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India is now world's fastest growing country: Modi
Burnpur (West Bengal), May 10
In a veiled dig
at the erstwhile Congress-led UPA regime for scams, Prime Minister
Narendra Modi on Sunday said the policy changes initiated by his
government have led to India becoming the world's fastest growing
country.
"During the months of February, March and April (2014)
the only news that came were scams... coal scam, submarine scam, scams
on the air, water and land," said Modi at a function where he dedicated
to the nation the Rs.16,000-crore revamped and modernised IISCO Steel
plant at industrial town of Burnpur in West Bengal's Burdwan district.
"It
has been a year of this new government, and today we don't have news
about the coal scam, rather about coal auction," said Modi at the
concluding engagement of his two-day maiden visit to the state since
becoming the prime minister.
"We have news about the government exchequer getting Rs.3 lakh crore instead of the coal scam of Rs.1.74 lakh crore," he added.
Modi
said the government's decision to auction coal has led to states
getting richer and using the royalty money from the mines for the
welfare of the people.
"Earlier, a leader would send a letter,
saying give the coal mine to someone and without any procedures it was
given. The government exchequer did not get a single penny. But we have
shut that all and initiated auction."
"We also decided that the
money from the auctions will not go to Delhi but to that state's coffers
so that the government can initiate welfare of that state," said Modi.
Modi
said West Bengal, Jharkhand, Chhattisgarh and all the states having
coal deposits were reaping benefits of the coal auction.
He said a foundation was set up from the mines royalty for the welfare of the states.
"Most of the coal and minerals are in tribal areas, while the minerals were extracted, the tribal remained bereft of welfare."
"So,
we have decided to set up a foundation from the money we get from the
royalties of the mineral. That money will be used for welfare of the
districts," Modi said.
The prime minister also expressed anguish over India importing steel.
"The
irony is we kept exporting iron ore and imported steel. The country
cannot run if we export wheat and buy back bread from foreign countries.
If we have iron ore, we will produce steel," he asserted.
Modi
also said the Centre was working on developing the three main resources
for funds - agricultural productivity, mineral resources and human
resources.
"We have endeavoured to develop skill of our people,
value addition of our mineral resources and increase agricultural
productivity by improving fertility and providing assistance to
farmers."
"A year ago the entire world had written off India but
now within a year the entire world, be it the IMF, the World Bank or the
credit rating agencies, they are unanimously saying India is the
fastest growing country in the world," Modi added.