Saved Indian economy that was heading towards disaster: PM Narendra Modi

Saved Indian economy that was heading towards disaster: PM Narendra Modi

The central government has "saved" the Indian economy that was heading towards a disaster five-six years ago, Prime Minister Narendra Modi claimed on Friday. He said his government has not just stabilised the economy but also tried to discipline it.

"Five-six years back our economy was heading towards disaster. Our government has not only stabilised it, but also made efforts to bring discipline to it. We have paid attention to fulfilling the decades old demands of the industry," Prime Minister Narendra Modi said in a speech at the inaugural session of '100 years of Assocham (Associated Chambers of Commerce and Industry of India)'.

PM Modi's comment comes at a time when India's GDP growth rate has been declining for six consecutive quarters, prompting many to call growth recession. In the last quarter, India's GDP growth rate was 4.5 per cent.