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| We Inherited Derailed Passenger Tra |
| We Inherited Derailed Passenger Train, Will Soon Turn it Into Bullet Train: Minister Jayant Sinha on Economy
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| INDIA
, 13-June-2015
12:9:17 PM |
| Drawing parallels between the economy and a train, Minister of State for Finance Jayant Sinha today said the Modi government inherited a derailed passenger train, but has already converted it into a 'Rajdhani' and would soon make it a bullet train.
He also expressed confidence that the Indian economy would continue to grow at 7-9 per cent and double in size to US $4-5 trillion in a decade.
"The economy that the current government inherited had toxic macro-economic parametres and the present government has tried to change those parametres.
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"The train of development which we inherited was a derailed one and we have put it back on track. We have made the passenger train into a Rajdhani train and in some time, we will convert it into a bullet train," the minister said.
"The Indian economy today is a $2 trillion economy. All the actions that our government is taking will enable us to be able to get on the path of sustainable growth of 7 per cent, 8 per cent or 9 per cent," Mr Sinha said at an event in Mumbai.
"And if we are able to sustain this growth rate... for a decade... our $2 trillion economy will become $4 trillion or $5 trillion economy, making us the third largest economy in absolute terms," he said.
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