Modi slams critics over 7.8% GDP growth, says those behind 'Fragile Five' can't digest figures

Prime Minister Narendra Modi on Saturday attacked his political opponents over India's latest economic growth figures, saying those responsible for pushing the country into the "Fragile Five" were finding the 7.8% quarterly growth difficult to digest.

Speaking at the centenary celebrations of Shri Ram College of Commerce (SRCC) in Delhi, Modi contrasted India's economic performance with the situation he said prevailed when he visited the college in 2013, when he was Gujarat chief minister and a member of the opposition.

"Your seniors were sitting here in 2013, and at that time I was the Chief Minister, but I was also a member of the country's main opposition party," Modi said, adding that he had not used his 2013 visit to attack the then government despite being an opposition leader.

"Perhaps people were expecting me to launch a long, strong attack on the then Central Government and level a barrage of allegations. But, even though I was in the Opposition and a critic of the government of the time, I did not use this platform for that purpose. I presented a vision. I spoke positively," Modi said.

"Whatever I said then was my conviction. I have always lived those thoughts and dreams. I continued to follow that path, to dedicate myself wholeheartedly to the country and to have the passion to live for the nation," he added.

Modi said his 2013 address had become a wave and that its impact remained more than a decade later. He then listed what he described as the crises dominating headlines in 2013, including attacks on Indian soldiers along the Line of Control, a record current account deficit, inflation of around 10%, an industrial slowdown, corruption allegations in a helicopter deal and bomb blasts in Hyderabad.

"Growth was at the bottom, while inflation was at the peak. Scams were at their height, and the corrupt were moving around fearlessly. The economy was in distress. There was discussion everywhere about policy paralysis. The world was counting India among the 'Fragile Five.' Terrorists were operating unchecked, and Pakistan was out of control," Modi said.

"In other words, there was nothing but disappointment and despair. There was a time when the country was struggling on every front," he added.

'Fragile Five finding these figures difficult to digest'

Modi contrasted that with what he described as India's current economic and strategic position, saying the country was now the fastest-growing major economy.

"The 7.8 per cent quarterly growth has boosted the country's confidence. Those who became infamous for pushing India into the 'Fragile Five' are finding these figures difficult to digest," he said.

"The world was calling India one of the 'Fragile Five.' Today, the world is watching India become the fastest-growing major economy," Modi said.

He said the latest growth figure had come despite the ongoing war in West Asia and trade-related challenges.

"I know, and you also know, that those who became infamous for pushing India into the 'Fragile Five' are finding these figures difficult to digest. But all of you understand the data seriously," he said.

Modi also linked the growth figures to employment and accused critics of continuing to view India's economic performance negatively.

"Despite this, those for whom the glass was half empty in 2013 continue to think the same way even today. For them, the glass will always be half empty. I talk about the glass; I am not talking about anything remaining empty," he said.

Modi also took aim at critics of the government's infrastructure and development initiatives, calling them "Naraz Fufa" (aggrieved uncle) who oppose projects by asking why they are needed.

"But outside this campus, you will encounter a new world. You will meet two kinds of people. One kind consists of people who positively transform the strength of society into the strength of the nation. The second kind is made up of people who become the 'Naraz Fufa' whenever any work is started. Their favourite thing is to oppose everything. They have only one dialogue: What is the need for this?" he said.

He cited the construction of the world's tallest statue, the high-speed train, the introduction of UPI and the construction of the new Parliament building as examples of initiatives that had faced such criticism.

"When we were building the world's tallest statue, the 'Fufa' said, 'What is the need for this?' When we started working on the high-speed train, the 'Fufa' again said, What is the need for this? When we introduced UPI, these same 'Fufas' asked, Why UPI? When we built the new Parliament building, they again said, 'What is the need for this?'" Modi said.

He also cited a memorial for military personnel who had died in service.

"We built a memorial for our brave military heroes who dedicated their lives and made the supreme sacrifice for the country. The 'Fufa' came onto the field again and asked, 'What was the need for this?' But India gave an answer to all these 'Fufas.' No one can stop India from doing what is necessary for the country," he said.

Modi also highlighted his government's record on national security, saying terrorism had been pushed back and India's armed forces were now striking inside the territory of adversaries.

"Today, those spreading terrorism are on the back foot. If Pakistan indulges in any misadventure, India's armed forces enter their territory and strike," he said.

"Peace has increased from Jammu and Kashmir to the Northeast. The back of Maoist terrorism and Naxalism has been broken. The world that was once concerned about India's policy paralysis is today talking about India's policy dynamism," Modi added.

Modi said India's decision-making and infrastructure development had accelerated, citing railway electrification as an example.

"Today, India is moving forward with a different mindset. Work that used to take decades is now being completed in just a few years," he said.

He noted that India's first electric train ran in 1925 and SRCC was established in 1926, but less than 30% of India's railway lines had been electrified by 2014.

"In just 12 years, we have brought railway line electrification to nearly 100 per cent," he said.

"The speed that has come into India's policy-making and decision-making is being seen and understood by countries around the world. That is why they are expanding their partnerships with India," Modi said.

He said the opening of new markets and lower tariffs on Indian goods and services were creating opportunities for young Indians.

"This is creating a new sky of opportunities for India's youth. Compared to 2013, the country is economically and socially much more secure today. But seeing this, the restlessness of some people is increasing," he said.

Notably, Modi travelled by Delhi Metro to reach the SRCC campus in north Delhi, interacting with students and fellow passengers during the journey.

Earlier on Saturday, Modi praised SRCC's legacy in higher education and its contribution to public life in a post on X.

"In a short while from now, at 7 PM, I will be at Delhi University’s iconic Shri Ram College of Commerce (SRCC) to take part in its centenary celebrations. This college has distinguished itself over the years, making a mark for academic excellence, institution-building and for nurturing generations of leaders in business, public life and society," he said.

According to sources, a key focus of the visit was expected to be a direct interaction between Modi and Gen Z students, giving them an opportunity to share their views, aspirations and concerns with the prime minister.

(With inputs from ANI and PTI)