Prime Minister Narendra Modi stated on Sunday that India will soon start a $1.35 trillion national infrastructure plan to bolster the country's economy as part of the country's Independence Day celebrations.
Modi spoke to the nation from New Delhi's 17th century Mughal-era Red Fort on the 74th anniversary of India's freedom from British domination, wearing a flowing bright saffron-colored turban. He said that the infrastructure plan would provide jobs for millions of Indian youth.
“It will assist local manufacturers in becoming more globally competitive, as well as develop the potential for new future economic zones in the country,” he said.
The coronavirus pandemic wreaked havoc on India's economy, which shrank by 7.3 percent in the fiscal year that ended in March. Economists are concerned that there will be no similar recovery to that experienced in the United States and other big countries.
Modi also enumerated his government's accomplishments since 2014 and praised India's coronavirus immunization effort during his 90-minute speech.
“We are proud that we were able to obtain COVID-19 vaccines without having to rely on another country. Consider what would have occurred if India had not developed its own vaccine, he remarked.
India has administered more than 500 million vaccine doses, but the country's vaccination campaign has been hampered by its poor pace. So far, approximately 11% of eligible adult Indians have been fully vaccinated.
Modi started his speech by applauding India's athletes who competed in the just-completed Tokyo Olympics. At the games, India earned one gold, two silver, and four bronze medals.
India's Independence Day falls a day after Pakistan's. The brutal partition of British India in 1947 resulted in the formation of two separate states.
Hundreds of thousands were killed as a result of the procedure, which caused some of the world's bloodiest community strife. It sparked one of the world's greatest human migrations, with 12 million people fleeing their homes.
On Saturday, Prime Minister Narendra Modi declared August 14 as Partition Horrors Remembrance Day.
