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Govt will push economic reforms, maintain fiscal stability: PM Modi

While addressing a rally in Dahej at the inauguration of a ferry service, PM Modi affirmed that the economic reforms would continue and the government would maintain financial stability while initiating these measures.

“After the reforms and hard decisions, the economy of the country is on track and in the right direction… We will take all necessary steps to increase investments and bring in economic development,” Modi said, addressing a rally in Dahej. He said several economists have described the fundamentals of the economy as robust.

Modi’s remarks appeared to be a response to Congress vice-president Rahul Gandhi’s attack pointing out the economic slow growth, registering a three-year-low of 5.7% in June quarter.
 
“Looking at the recent figures, the production of coal, electricity, natural gas and other items has increased significantly. Foreign investors are making huge investments in the country. Foreign exchange reserves too have reached $400 billion,” Modi said.

In Vadodara, where he inaugurated projects worth Rs 3,600 crore, Modi made an indirect appeal to people of Gujarat to ensure that the government at the Centre and state remain the same. While Modi did not say this directly, he pointed out that the state had progressed well when there was conducive leadership in the Centre.

The PM said the state should not miss the opportunity to capitalise on a government in Delhi that does not dislike the state. He added that the state government had been putting project after project before the Centre.

“This creates opportunities and projects like the Ro-Ro ferry service become possible,” said Modi who had inaugurated the Ghogha-Dahej ferry service.

Modi highlighted how the camaraderie between Morarji Desai as PM and Babubhai Jasbhai Patel as the CM in Gujarat had ensured development. Modi said that but for the Central government led by Atal Bihari Vajpayee, the rehabilitation work after the Kutch earthquake would not have been completed even after 15 years.

Referring to GST, Modi said the number of traders joining the new indirect tax regime was increasing every day.

“Around 27 lakh additional people have registered for the indirect tax in the last few months... No businessman wants to indulge in tax evasion. But tax rules, system, tax officials and even politicians are forcing them to do it,” he said.

He assured traders that their past records would not be checked if they joined the new tax regime. “I assure you that no tax officials will be allowed to open past records of those who want to come into the mainstream,” the PM said, adding that GST had helped check corruption at state borders.

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