Modi says 500 million people lifted out of extreme poverty in 10-12 years, cites World Bank report

Mumbai: Prime Minister Narendra Modi on Tuesday said that India has maintained the fastest growth rate in the world despite challenging global circumstances, and that has helped bring 500 million people out of poverty.

"Today, India is being widely discussed around the world for two reasons - first, for consistently growing at the fastest rate in the world even in difficult global circumstances; and second, in just 10-12 years, 500 million people in India have risen above extreme poverty. Many generations in the country have grown up amid promises and claims of removing poverty. Our government is eradicating poverty on the ground," said the PM while referring to a recent World Bank report.

Modi made these remarks after inaugurating the Pune Metro Line 3 virtually on Tuesday. According to him, the country's growth rate and lifting people out of poverty are interrelated. "India's economy is growing rapidly. We are spending more from the budget on people. Earlier, money that used to leak due to scams and nepotism is reaching beneficiaries directly. When money is invested in roads, railways, airports, ports, metros, and the government increases investments in electricity, water, gas pipelines, then it generates job opportunities and improves people's lives."


The PM said that his government is keen to transform hundreds of small cities into hubs of economic activity, and with this in mind, the Centre is providing assistance of ₹1 lakh crore for the Urban Challenge Fund.

Modi said that his government's focus is building Metros throughout the country to ensure ease of living and ease of transportation for the middle class. "In the past 12 years, Metro transport has been transformed. In 2014, there were 248 km of Metro routes, which have now expanded to nearly 1,200 km... More than ₹2.5 lakh crore is being invested in Metro infrastructure alone in Maharashtra. This money is going into the pockets of labourers, giving employment to engineers. It creates more jobs in shops and factories."