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Davanagere (Karnataka) [India], May 5 : Explaining why everybody says India is a bright spot in a troubled world, Union Communications, IT, and Railway Minister Ashwini Vaishnaw on Friday said this happened because of a "wise decision taken by a wise leader"."PM Modi is a leader who understands the grassroots, the realities of life, and understands the problem of poverty," the minister said while addressing the business community in Davanagere, Karnataka on Friday.At the start of his speech, the Union minister said, "We all know how the situation is with the world. How is India's situation in the context of this world's situation? What actions are being taken that we can confidently say that in 2047 India will become a developed country." He said, "First of all, I would like to share the situation of the world."The minister said the entire world is going through a very difficult phase. "The pandemic which happened once in a century and when it hit all the countries of the world had a choice how to respond to it," he said.Adding that he was speaking in terms of economics, the minister elaborated, "When the pandemic hit, the leaders of the big countries, which were rich and prosperous, took a kind of decision and in India, our leader PM (Narendra) Modi also took a different type of decision."He said he would share with the audience why the whole world is called India a bright spot now."In these rich countries, these people simply printed money and sent it out to everybody without thinking what would be the impact" the minister said, adding, "Their concern was that next election was important, if the country get into trouble, it doesn't matter. They were simply thinking election to election."The minister added, "The result was that in some countries where there was 1.5 per cent inflation, it was now 8 per cent at these places now. At some places, 10 per cent inflation which meant high inflation and low growth."The minister said this could be prevented and India is an example of a country which prevented it. He added that "the example is our leadership".The minister said, "PM Modi took the path of investment."The minister added, "When the pandemic hit, Prime Minister Modi said nobody will stay hungry even though this is a very difficult situation. The first thing he did was that he sent foodgrains to 80 crore people. The second thing he did for all the SMEs and hotel industries, travel industry and tourism industry was that he created a special package of about Rs 8 lakh crore to survive through this difficult period."On investment, Vaishnaw said, "Investment is very important. When we make an investment, we are laying the foundation. When we make an investment, new project is created, new job is created. When a new educational institute comes up, teachers' job will come, helper's job will come and lab technician's job will come."He added, "When these jobs are there, the society will progress ahead."Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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