Union Cabinet approves India-UAE pact on economic corridor
The aim of the IGFA is to enhance the bilateral relations and to further strengthen the relations between the two countries in the ports, maritime and logistics sectors.
Prime Minister Narendra Modi today claimed that his government has brought in several reforms which have furthered ”Ease of Doing Business”.
In a tweet, Modi said many outdated laws which slowed growth have been removed. With the Mantra of Reform, Perform and Transform, India has emerged as the fastest-growing major economy in the world.
”Guided by the principle of ‘Reform, Perform and Transform’ the Government of India has brought in several reforms which have furthered ‘Ease of Doing Business.’ At the same time, many outdated laws which slowed growth have been removed,” he tweeted.
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Modi shared the details of reforms during the last eight years in the field of Ease of Doing Business and for spreading widespread prosperity and encouraging entrepreneurship. He shared a MyGov tweet thread and articles from his website and Namo App.
The Indian economy grew by 8.7 per cent in the year ended March 2022, the fastest among the major economies across the world.
The real GDP or Gross Domestic Product (GDP) at Constant (2011-12) Prices in the year 2021-22 is estimated to attain a level of Rs 147.36 lakh crore, as against the first revised estimate of Rs 135.58 lakh crore for the year 2020-21, released on 31st January 2022. The growth in GDP during 2021-22 is estimated at 8.7 per cent as compared to a contraction of 6.6 per cent in 2020-21, as per the latest data released by the National Statistical Office (NSO).
The tweet highlighted that India has achieved its highest-ever merchandise and services exports.
India achieved an all-time high annual merchandise export of $417.81 billion in FY 2021-22, an increase of 43.18 per cent over $291.81 billion in FY2020-21 and an increase of 33.33 per cent over $313.36 billion in FY2019-20, as per the Ministry of Commerce & Industry data.
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