Indian economy now in 'Fabulous Five' from Fragile Five in 2014: Defence Minister Rajnath Singh
Defence Minister Rajnath Singh on Friday stated that the Indian economy has now improved to 'Fabulous Five' from the 'Fragile Five' before 2014. The minister also added that the Indian economy is one of the fastest-growing large economies now.
Speaking at the 'Manorama News Conclave 2024' in Thiruvananthapuram, the minister said, «India's economy has undergone unprecedented changes. Before 2014, India's economy was among the 'Fragile Five'. Today it is being recognised all over the world as one of the 'Fabulous Five'. The Indian economy has become one of the fastest-growing large economies today».
The minister also added that the government has taken various steps to improve the ease of doing business in the country, he added that because of the efforts by the government now the process to get environment clearance has reduced to less than 75 days from 600 days earlier.
«The ease of doing business in the country has improved manifold. To ensure, ease of doing business, more than 40,000 compliances have either been scrapped or simplified. Whereas earlier it used to take 600 days to get environmental clearance, it now takes less than 75 days» said Singh.
Highlighting the progress by the country on the 5G roll out the minister mentioned that the Vice President of telecom company Ericsson also hailed India's 5G efforts and stated that India has left behind many European countries.
Minister said «The VP of a renowned telecom company, Ericsson, has stated that India has left behind many European countries in the 5G
