Union Minister Hardeep Singh Puri lauded the findings of a State Bank of India (SBI) report, highlighting the substantial job creation under the Modi-led government compared to the previous UPA administration.
Speaking to ANI, Puri emphasized that while only 2.9 crore jobs were created during the UPA's ten-year rule, the Modi government has generated 12.5 crore jobs over the past decade.
"The Chief Economist of SBI has released a report indicating that in the last 10 years under the Modi Government (2014-24), a total of 12.5 crore jobs were created," Puri stated. He contrasted this with the previous decade, noting, "From 2.9 crore jobs created between 2004 and 2014, we have now moved to 12.5 crore jobs in 2014-2024."
Puri also highlighted India's economic advancements, stating that the country has ascended from being the 10th or 11th largest economy to the world's fifth largest. "We are on the way to becoming the 3rd largest economy. If you look at housing, infrastructure, the value of mobile phones you are exporting, the urban transport system... Over the 10-year period, you have moved 250 million out of multi-dimensional poverty," he said.
He further mentioned that the formal sector has created 12.5 crore jobs, with an additional 20 crore people registered on the Udyam Registration portal of MSME. Puri expressed confidence in India's economic growth trajectory, stating, "The economy is currently growing at anything between 7.5 per cent and 8 per cent plus. If you sustain this growth, you are moving from a 3.9 trillion dollar economy to a 5 trillion dollar economy in the next 2-3 years and then from there to 7.5 and 10 trillion dollar economy. Two things will happen: Per capita income will grow many times."
Puri concluded by affirming that sustaining a growth rate of 7.5-8 percent will enable India to achieve a USD 5 trillion economy within the next few years, leading to significant increases in per capita income.
