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Prime Minister Narendra Modi Urges Financial Discipline, Cautions Against Populism

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In a recent interview, Prime Minister Narendra Modi emphasized the importance of financial discipline in the face of what he referred to as a “global debt crisis,” expressing concern for developing nations. PM Modi warned against “irresponsible” financial policies and populist measures, asserting that while they may yield short-term political gains, they ultimately exact a “great social and economic price.”

PM Modi revealed that he has urged state governments to exercise caution in their financial policies, recognizing the long-term consequences of populism. He stressed that the poorest and most vulnerable members of society often suffer the most as a result of such policies.

His remarks align with the BJP’s opposition to what they call the ‘freebie culture’ promoted by opposition parties, particularly in the run-up to elections.

PM Modi also reflected on the stability and decisive mandates that have characterized the Indian government since 2014. He expressed optimism about India’s future, predicting that by 2047, the nation would become a developed country with an inclusive economy, innovative initiatives, improved health and education, and reduced corruption, casteism, and communalism.

He highlighted India’s rapid economic ascent, from the 10th largest economy to the fifth largest in less than a decade, showcasing India’s determination and potential.

Furthermore, PM Modi sees the period until 2047 as a significant opportunity for Indian growth, urging the current generation to lay a foundation for prosperity that will be remembered for centuries to come.

These comments come ahead of India hosting the G20 Summit, underscoring the country’s growing global prominence and influence.