Narendra Modi says consumption and demand approaching pre-COVID-19 levels, economy fast preparing to bounce back

Narendra Modi cited rise in electricity demand and fuel consumption among others to point to recovery.

Press Trust of India June 18, 2020 17:50:06 IST
Narendra Modi says consumption and demand approaching pre-COVID-19 levels, economy fast preparing to bounce back

New Delhi: Prime Minister Narendra Modi on Thursday said business activity in India is returning to normal levels with consumption and demand fast approaching pre-COVID levels.

A protracted lockdown imposed to curb spread of coronavirus has resulted in severe disruption of industrial production and consumer spending, with GDP growth forecast to contract sharply.

Narendra Modi says consumption and demand approaching preCOVID19 levels economy fast preparing to bounce back

File photo of Narendra Modi. ANI

Speaking at the launch of commercial coal mining, Modi said business activity was fast returning to normal levels.

"Consumption and demand are now reaching pre-COVID levels," he said.

He cited rise in electricity demand and fuel consumption among others to point to recovery.

"These indicators point to Indian economy fast preparing to bounce back," he said. "India has come out of big crises in past and it will come out of present one as well."

India's growth and success is guaranteed, he said propagating his idea of making the country self-reliant by cutting imports.

"Just until a few weeks back, we used to import N-95 face masks, corona testing kids, personal protective equipment (PPE), and ventilators. But now we have become self-reliant and are also in a position to export some medical equipment," he said.

Updated Date:

also read

Endless funerals, people pleading for oxygen; India must etch horrors of COVID-19 in its memory, writes TM Krishna
India

Endless funerals, people pleading for oxygen; India must etch horrors of COVID-19 in its memory, writes TM Krishna

We are facing our worst moment in modern history, struggling to stay afloat. If we do not show courage and honesty to speak for justice now, we may never be able to recover compassion.

'Curtail election victory celebrations to contain COVID-19 spread': Deve Gowda writes to Narendra Modi
India

'Curtail election victory celebrations to contain COVID-19 spread': Deve Gowda writes to Narendra Modi

The JD(S) supremo in the letter to the prime minister also suggested banning all public gatherings for six months, postponing all byelections, and capping vaccine prices

COVID-19 in India: Leaders are accountable for near-collapse of the State, apocalypse must matter
India

COVID-19 in India: Leaders are accountable for near-collapse of the State, apocalypse must matter

Had the nationalist leadership taken the savage epidemic of 1918-1919 seriously, India might have been one with a political culture that put lives first