India emerges as the fastest growing economy

What?

             Say it Modi miracle or just the right timing; India has been confirmed as the fastest growing economy in the world. India has registered an economic growth of 7.5% in 2015 as compared to 6.9% of that of China.

Why?

            Because of the new FDI reforms, it has helped India to bring in more than 50% FDI than before. Along with the FDI reforms the slash in oil prices have also helped India to boost its growth as India is one of the major oil consuming nations of the world. The growth figures are a political victory for PM. Narendra Modi.

How?

             He came to office in May 2014 promising to sweeping changes to economy and pro-business policies.

In 2 years his government has passed a series of economic reforms-

Reforms under Modi: (Completed)

1. Allowing more than 50% Foreign Investment in India's aging Railway

2. Allow foreign investment in construction projects

3. Open the coal mining sector to foreign/private investment.

                

             These and many other reforms have made India a haven for Foreign Investors making India the fastest growing economy of the world.

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