Railway Minister Suresh Prabhu believes crossing 8 per cent growth barrier should not be difficult, with the government policies like ‘Make in India’ and ‘Digital India’ being in place.
The Indian economy expanded by 7.6 per cent in 2015-16 to log the fastest growth among larger countries, while also outpacing China, mainly on account of good performance of manufacturing and farm sectors.
The growth numbers for the last fiscal, which reinforces India’s position as the world’s fastest-growing large economy, came on the back of a strong 7.9 per cent growth in the last quarter of the fiscal.
PM Modi unveils the logo of “Make in India” initiative dailysignal
According to Prabhu, consumption and investment are two components which are linked to boost growth, and both are very much dependent on psychology and sentiment.
PM Modi launching Digital India week narendramodi
Meanwhile, Suresh Prabhu has a reason to smile for his ministry, as it has got the top rating with 4.6 stars for the initiatives and connectivity through the country after people posted feedback on MyGov.in.