'Earlier govts used to sell dreams to people, we fulfil them'

Finance Minister Nirmala Sitharaman on Thursday said India is in a unique position of being optimistic and positive about its future growth when the global economy is struggling, and asserted the Modi government has transformed governance by delivering on its promises.

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Speaking during the debate on the no-confidence motion in Lok Sabha, she said developed countries such as the US and the UK, and the Eurozone are facing challenging times, while big economies such as China are also facing their own issues related to consumer demand and wage stagnation.

“In 2022, there was only three per cent growth in the global economy. The World Bank has said in 2023, it will decline to 2.1 per cent,” she said. “In this background, look at the Indian economy… In 2013, Morgan Stanley called India a fragile economy. Same Morgan Stanley has upgraded India, just in nine years, the fragile economy came out because of our government’s policy. There was improvement despite Covid,” she said.