Quote

Ultimately, stable growth will ensure that urban and rural incomes increase and people's lives improve.

India's growth drivers are actually two growth drivers. One is consumption, which arises out of our demographic advantage. And the other is the investments. Because we need a lot of investment in the country.

Besides infrastructure, there is a huge opportunity in housing and urbanisation of cities - not only building new ones, but also renewing the infrastructure of old cities to make them more livable. This provides tremendous scope for large investments to fuel growth.

People understand what is good for them in the long run. In the long run, what is good for people is that India's economy continues to grow at clipping pace, 8% and above, that itself brings host of benefits to the people. It brings better roads, it brings better schools, brings more money to the communities, it brings more jobs.

If the economy grows, housing gets better, quicker.

I believe economic growth should translate into the happiness and progress of all. Along with it, there should be development of art and culture, literature and education, science and technology. We have to see how to harness the many resources of India for achieving common good and for inclusive growth.

Fortunately for India, it has got a growing economy. If it is doing the right things with taxation and focusing on the right areas for human development, it is going to have no problem, over a period of time, taking care of its own needs.

If we allow more development, it will bring housing affordability.

Urbanization is not about simply increasing the number of urban residents or expanding the area of cities. More importantly, it's about a complete change from rural to urban style in terms of industry structure, employment, living environment and social security.

India is now changing and regaining its lustre, and it is coming of age.