India is set to surpass Japan and Germany to become the world’s third-largest economy by 2027, according to Union Minister Jyotiraditya Scindia. Speaking in Bhopal on Wednesday, the Minister also advised the Congress to reconsider its stance on Prime Minister Narendra Modi before making further criticisms.
- Economic Growth Under PM Modi’s Leadership
Scindia highlighted the decline in inflation since 2014, when it stood at 8.3-9%. Under PM Modi, inflation has been brought down to 4.5%, showing a significant improvement in India’s economic stability. He also pointed to the unemployment rate, which stood at 10% during the Congress-led UPA government, compared to a much lower 3% under the current NDA government. - India’s Future Economic Status
According to Scindia, India’s economy will continue to grow under PM Modi’s leadership and surpass Japan and Germany by 2027, establishing India as the third-largest economy in the world. He urged the Congress party to reflect on the past before making further critiques of PM Modi and the National Democratic Alliance (NDA) government. - Banking Sector Improvements
The Minister also reflected on the state of the banking sector during the Congress-led UPA era, citing a rise in non-performing assets (NPAs), which had reached 11%. In contrast, under PM Modi, the NPA ratio has been reduced to 2.6%, signaling a clean-up of bank balance sheets and a more stable financial environment. - Scindia’s Visit to Bhopal
Scindia had arrived in Bhopal to attend a wedding function. During his visit, he also met with Madhya Pradesh Governor Mangubhai Patel at Raj Bhavan and former home minister Narottam Mishra at his residence.
With these statements, Scindia emphasized that India’s economic trajectory is firmly set on a path of growth and stability, reinforcing the success of PM Modi’s policies in rejuvenating the country’s economy.
