PM Narendra Modi at ICSI event: Growth rate has fallen, but government committed to reverse it

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New Delhi | Updated: October 28, 2017 1:25:34 PM

Prime Minister Narendra Modi today inaugurated the Golden Jubilee Year Celebrations of Institute of Company Secretaries of India (ICSI) at Vigyan Bhawan in New Delhi.

Prime Minister Narendra Modi inaugurates Golden Jubilee Year Celebrations of icsi, ICSI golden jubilee prime minister narendra modi, golden jubilee icsi news, ICSI narendra modi addresses 2017 golden jubilee ceblebrations, Institute of Company Secretaries of IndiaPrime Minister Narendra Modi today inaugurated the Golden Jubilee Year Celebrations of Institute of Company Secretaries of India (ICSI) at Vigyan Bhawan in New Delhi.(ANI)

Prime Minister Narendra Modi on Wednesday asserted that the economy has plunged in April-June quarter but insisted that Centre is committed to reverse the decline. “After achieving average growth of 7.5 per cent over 3 years, we accept that growth rates came down April-June but government is committed to reverse it,” PM Modi said while speaking at an event held to celebrate the inauguration of Golden Jubilee Year of the Institute of Company Secretaries (ICSI) in Delhi.

Speaking at the event, PM Modi said, government formed SIT on black money in first cabinet meet itself. “There are some people who sleep well only after they spread a feeling of pessimism all around. We need to recognise such people” PM Modi said. He said after demonetisation the cash to GDP ratio has come down to 9 per cent, before November 8, 2016 it was 12 per cent. Attacking the previous government, the prime minister said, “During 6 years of the previous government there were 8 instances when GDP was at or below 5.7 per cent.” Modi also took a dig at the economists, he said, “at a time India was made member of a GRP in context of international economy, it was in fragile 5. How did it happen when big economists were there?”

“I have told the GST council to review the problems being faced by traders and we are willing to make changes as per the suggestions,” PM Modi added. The prime minister also assured that the steps taken by the government will put the country in a new league of development. Modi also said that there has been an increase in auto sales, air traffic, air freight and telephone subscribers.

Modi also congratulated the institute and the people associated with it. The prime minister also launched the motto song of the institute sung by Shaan and Babul Supriyo. The institute was initially set up as not-for-profit organisation on October 4, 1968. Then in 1980, ICSI was converted into a statutory professional body under an Act of Parliament — The Company Secretaries Act 1980.


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