Ongoing discussion on economy is good for democracy: VP Venkaiah Naidu

NewsBharati    07-Oct-2017
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New Delhi, October 7: Vice President Venkaiah Naidu has said that the ongoing discussion on Economy in the country is good for democracy. While addressing the gathering after inaugurating the International Conference on Technological Advancements in Railways, he said that revolutionary taxation and reformation is taking place in the country.

The Vice President quoted the World Bank President, Jim Yong Kim, who has described the recent slowdown in economic growth in India as an aberration, which is mainly due to temporary disruptions in preparation for the GST. He went on to recall the World Bank President’s statement that this aberration will get corrected in coming months and that the GST is going to have a hugely positive impact on Indian economy.

He also cited recent reports that indicated a significant increase in sales of cars, televisions and refrigerators as compared to last year showing an upswing in consumer spending.

Naidu said that with urbanization taking place at a rapid pace in India, the need for efficient and cost-effective transport is critical in ensuring faster mobility and sustainable development. He further said that new concepts such as ‘Transit Oriented Development’ should be tried out and promoted which will improve the lives of people living around the metro stations in a big way.

The Vice President said that the Indian Railways need to plan for a massive expansion very meticulously with forward looking, efficient technologies and innovative practices currently available across the globe and adopt them to serve our country’s aspiring population.

He further said that the IT revolution sweeping the world, to which India has also been a major contributor, is bound to improve the efficiencies in signaling, communications and safety and help in areas like intelligent transportation systems.

“The Indian ethos, we believe that science and technology are tools to improve the quality of life and we say “Bahujana hitaya, bahujana sukhaya” implying that we aim at the good of humanity at large and also care for the happiness of the entire population on this planet,” he added.

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