Union minister Anurag Thakur has claimed that India is ahead of Silicon Valley in IT, citing that the Covid vaccination certificate is available online in India. At the same time, it is still only available on paper in the rest of the world.
India is moving towards becoming a digital economy with the roadside vendors, all doing their business with the help of the internet, he stated.
He also claimed that since 2014 digital transactions worth 12.62 lack crore have been recorded in the country. However, nine years ago, when the opposition government was in power at the centre, inflation was 12% and “corruption was rampant, ” said Sunday.
He further compared India with the United States, saying that the US is struggling with an inflation rate of 8.3% while India’s inflation rate is 5.7%.
Recently, several reports praised India for performing better than many global economies while also saying that the country needs to improve its labour markets and access to land, said IMF officials.
IMF stated that India’s growth rate is 6.8 % for the current fiscal year, while 6.1 for the following financial year has been estimated.
On the other hand, the executive chairman of the World Economic Forum (WEF), Klaus Schwab, praised India’s leadership in a divided world and said India is a bridge.
Meanwhile, India’s lower house of Parliament election will be held at the beginning of 2024. As a result, the ruled party wants to function unitedly and effectively to retain power.