The Union Minister of State for Skill Development and Entrepreneurship and Electronics and Information Technology Rajeev Chandrasekhar spoke of a New India that recognises the merit and youngsters have an opportunity to succeed.
Speaking at the seventh convocation of PES University in Bengaluru today the Union Minister stressed that the new India has the fastest growing economy, it has tax revenue collections exceeding the target, it has highest FDI inflow and an ecosystem conducive to growth.
Today young entrepreneurs without any clout or influence have created 104 Unicorns and 75000 more are in the pipeline.
The new India handled the pandemic with confidence and has turned around the Economy as against countries like China which is still under lockdown, USA facing high inflation, Europe dealing with economic disarray.
New India has invested 10 lakh crore rupees to create modern infrastructure and registered the world’s fastest 13.5 percent Economic growth.
Recalling the situation during his young days, the minister said that their generation lived under dysfunctional democracy when out of 100 rupees released from the Central Government only 15 rupees reached the beneficiaries, 97 percent of India’s banking system net worth was borrowed by nine families.
Those without influence or clout had no access to capital, there was no fund to invest in education and modern infrastructure and the economic growth was around three to four percent per annum.
Mr. Rajeev Chandrasekhar said that the new Generation is fortunate enough today to step into a world full of opportunity. It is fortunate to have an eco-system that encourages entrepreneurship and talent.