`India will emerge as biggest economy by 2030′

GVL Narasimha Rao also said that the Centre had taken up modernisation of 72 railway stations including Visakhapatnam and Anakapalli and had allocated Rs.7,000 crore to Andhra Pradesh.

Visakhapatnam: India will emerge as the biggest economy of the world by the year 2029-2030, according to BJP Rajya Sabha member and Member of Finance Standing Committee GVL Narasimha Rao.

Addressing a meeting on union Budget-2023-24 here on Sunday, he noted that the country had already improved from ninth place in the world to first position under the Modi government. “We are constructing 3.7 crore houses under the PMAY scheme and 50 crore people have insurance cover through Ayushman Bharat. The ceiling on income tax for employees has been enhanced to Rs.7 lakh and Rs.3. lakh crore were allocated to the states,” he pointed out.

He also said that the Centre had taken up modernisation of 72 railway stations including Visakhapatnam and Anakapalli and had allocated Rs.7,000 crore to Andhra Pradesh. Priority given to the MSME sector would benefit cities like Visakhapatnam and 5G labs were being set up in 100 engineering colleges across the country, he revealed. Besides, 50 cities would be developed as tourism hubs, he added.

Former MLA P. Vishnukumar Raju said the state government had kept the bills of contractors pending since long.