During his hour long speech on the economy, Prime Minister lashed out at critics of his economic policy, blaming them for 'spreading pessimism' over 'one quarter of slow growth' and said that growth rate hasn’t fallen to 5.7 for the first time. In UPA regime it had gone down below this level for 8 times. On the demonetization step, taken by the Government on November 8, 2016, the Prime Minister said the step had given positive steps.
Due to this, the cash to GDP ratio has come down to 9 per cent after demonetisation and that it was 12 per cent before November 9, 2016. On the investment front, Mr Modi said, “We have taken many decisions to boost investment and give pace to economic development and this process will continue. (UNI)