With bullion market transaction of Rs 30,000 crore during Diwali and GST revenue of Rs 1,72,003 crore, India’s economy is booming. UPI digital transactions have grown by approximately 11 billion, and analysts expect them to reach 20 billion in the next years. During the pandemic, Modi’s digital economy allowed financial firms estimate a 7% GDP growth in Q1 2024.
India’s economy is expanding. Statistics show that the bullion market turned over Rs 30,000 crore (Rs 27,000 crore for gold and Rs 3,000 crore for silver) during Diwali. On Diwali’s first day, over 41 tonnes of gold and 400 tonnes of silver were traded. By October, GST collection hit a record Rs 1,72,003 crore. This rise in GST collection shows the economy is flourishing. UPI transactions totaled Rs 17.16 crore in October. UPI is so handy for small sellers in India that digital transactions have grown by about 11 billion, and experts believe they will reach 20 billion in the coming years.
After demonetisation in 2016, Modi promoted digital economy with technologies like ‘UPI’. Digital transactions rose during the pandemic, benefiting the country. India may have surpassed $1,000 billion in digital transactions faster than the US and China. Reason: India’s UPI system is technologically advanced and user-friendly.
Remember the Corona crisis, which destroyed the global economy. Many economies have yet to recover from the pandemic. Indian economy was also impacted hard by the crisis, but it has rebounded and is growing faster. Some financial firms forecast a 7% GDP growth rate for India in Q1 2024. This must be eye-opening for self-proclaimed economists who prematurely worry about the economy.
Unfortunately, some politicians choose to play dirty politics despite the country’s economic prospects. Some congregations have been distributing fake material to discredit the Modi government and the Bharatiya Janata Party for months.
India’s Narendra Modi and G-20 summit success was lauded worldwide. However, the Opposition politicized issues so low that they forgot they were abroad and proceeded to lie about religious unity in India. They claimed minorities are insecure in the country. Some worldwide superpowers, already intimidated by India’s rapid progress, joined the race to promote misleading narratives about India’s minorities’ vulnerability through numerous publications and other international platforms.
After taking power in 2014, Modi fought Pakistan-sponsored terrorism with vigor. The Modi government bravely entered Pakistan to dismantle terrorist bases. Pakistan had organized sympathizers in Jammu & Kashmir. Pakistani sympathizers in Kashmir were shocked by Article 370 and 35(A)’s repeal in 2019. Support from these folks (read sleeper)
cells), who have yet to be dealt with, that terrorism persists. I believe our military and intelligence agencies will stop these attacks.
I find it amusing that Uddhav Thackeray and his close aide Sanjay Raut continue to trash Modi through their articles on Kashmir Valley terrorist attacks. Rahul Gandhi, Congress’s prince, made a ridiculous claim that India’s GDP has fallen to 5% or less due to bad policies. Interestingly, several financial agencies, including the IMF, expect India to expand 7%.
Foreign Direct Investments have grown during the past 9 years. Increased exports are also seen. Uddhav Thackeray, who once advocated “Hindutva ideology” but later collaborated with the Congress and Sharad Pawar to become chief minister, joined the Opposition to propagate propaganda against Narendra Modi and the Bharatiya Janata Party.
After a long recession, the housing sector is recovering.
RERA gave this industry the boost it needed. The Modi government made various decisions to achieve ‘Atmanirbhar Bharat’. Under the central government’s ‘Vocal for Local’ policy, small businesses receive numerous perks to encourage local purchases. Prime Minister Narendra Modi’s Mann Ki Baat campaign led to record Khadi sales on Gandhi Jayanti on October 2. While the economy is thriving, opponents like Uddhav Thackeray and Sanjay Raut appear to be interested solely in filthy politics, so we must let them have it.
Conclusion
While India’s economy is growing, the bullion market made Rs 30,000 crore over Diwali. The country’s GST collection reached a record Rs 1,72,003 crore in October, suggesting a strong economy. Since 2016, the UPI system has increased digital transactions by approximately 11 billion, with analysts anticipating 20 billion in the coming years. The Modi government’s digital economy promotion helped the country recover from the Corona crisis. In the first quarter of 2024, financial institutions expect India’s GDP to expand 7%, up from the previous year. Some leaders continue to defame the Modi government and Bharatiya Janata Party using bogus information.
Sleeper cells in Jammu & Kashmir support Pakistan-sponsored terrorism, despite the Modi government’s efforts. Exports and foreign direct investment have expanded dramatically over the last nine years. The Modi government’s ‘Atmanirbhar Bharat’ initiative and RERA are helping the housing sector recover.
