Prime Minister Narendra Modi has congratulated the people for achieving 7.8 per cent first quarter GDP growth rate. At the same time, he held up a mirror to the opposition which had been making dire prediction about an “economic tsunami”. Modi said, those who want to push India into the abyss of despair, have failed.
The world’s two top economies – China (4.3 pc GDP) and the US (2.1 pc GDP) are struggling. In India, the service sector recorded 10 pc growth while the manufacturing sector registered 9.2 pc growth in the first quarter. By all indications, this is a good sign for the economy. Congress president Mallikarjun Kharge described the GDP figures as a “PR stunt”. He questioned why unemployment figures have crossed 40 per cent if the economy is in good condition.
Commerce Minister Piyush Goyal said, this is a case of calling the grapes sour. One of my friends sent me a video of Rahul Gandhi where he was telling reporters “The economy is dead” repeatedly. In that video, Rahul was so enamored of his comment that he asked the reporter, ‘why do you look surprised’? Modi, in his video posted from Bishkek, Kyrgyzstan, lashed out at the negative outlook behind the ‘Jhooth Ki Goonj’ (echo of lies).
It is a fact that the Gulf war has raised prices of fuel and natural gas, disturbed supply chains, and impacted the economic progress of almost all countries. We, in India, could have faced a serious crisis. Modi may have worked hard, and we registered the world’s best first quarter GDP numbers. India is now the world’s faster rising economy. This was possible because Modi’s government shifted focus on manufacturing to meet the requirements of the world, promoted promotion linked incentives, signed free trade agreements with 40 countries, and provided support to MSMEs.
The effects are there for all to see. This is bolstered by the fact that this year’s August GST collection was Rs 2 lakh crore, compared to Rs 1.74 lakh crore collected in August last year. If people try to reject figures and describe them as PR stunt, then the only thing one can say is, it is indicative of a negative mindset Had the world not faced two big wars in Ukraine and the Gulf, had Covid not wasted two full years, imagine where Indian economy would have been now?
Modi gave credit for this to the hard work and skill of the people of India, but one must not forget: this could not have been possible without a strong leader and a stable government.
Semiconductor chips: Earlier India was importer, now it exports
IT Minister Ashwini Vaishnaw explained how India’s GDP growth rate is rising. He said, there is a big demand for semiconductor chips around the world. India had been importing 99 pc of its semiconductor chip requirements, but now it has started exporting.
This is a big change. The world market for semiconductor chips is in the region of more than Rs 40 lakh crore. Modi government launched Semicon 2.0 and Rs 1,27,000 crore will be invested on this. Minister Ashwini Vaishnaw said, India will set up the entire supply chain for semiconductor chips. Earlier, the aim was to train 85,000 engineers within 10 years, but this target has already been achieved within four years.
Vaishnaw explained how our students have prepared designs for semiconductor chips to be made in India. The minister has asked for comments from students and he has promised to upload an explainer after studying those comments. This is a nice way of involved skilled young talents in making chips and recognize their intelligence. One must understand why it is necessary to involve young minds in the making of semiconductor chips.
Earlier, India used to import chips from China, US, Taiwan, Singapore and South Korea. We imported Rs 15 lakh crore worth chips between 2017 and 2025. Ashwini Vaishnaw prepared a solid plan, production has already started and the aim is to make India self-reliant in semiconductor chips. Under Semicon India, 12 semiconductor projects have been cleared in six states. Three semiconductor plants have already started working in Sanand, Gujarat. India has begun exporting semiconductor chips to Malaysia.
CJP protest : Happy ending, but Picture Abhi Baaki Hai
The Supreme Court, at the request of the Centre, used its extraordinary powers to direct cancellation of all FIRs filed against young protesters during the Jantar Mantar agitation. In response, Cockroach Janata Party told the apex court yesterday that it is withdrawing its call for a march on September 5 from India Gate to Delhi Police HQ.
The apex court bench praised CJP’s stand. The bench also made it clear that FIRs filed against more than 2,800 protesters having past criminal records will remain. The Centre promised the apex court that it will prepare a policy within 90 days for providing compensation to the families of those students who committed suicide after the NEET-UG exam was cancelled. At the Supreme Court yesterday, Saurav Das of Cockroach Janata Party said ‘thank you’ to the Chief Justice with folded hands.
Chief Justice Surya Kant extended his best wishes. With this, CJP’s confrontation with the Centre has come to an end. Both the ministers, J. P. Nadda and Jitendra Singh, have fulfilled their promises given to the student leaders. CJP decided to call off its September 5 march in Delhi.
In Bollywood movies, there is this famous dialogue “Jo Ladhai Tumne Shuru Ki Thi, Who Humne Khatm Kar Di’ (We finished the fight that you started). A happy ending, but ‘Picture Abhi Baaki Hai’.