India seen as bright spot with growth projected to be highest in world: PM Modi

Prime Minister Narendra Modi during his visit to Maharashtra state on Saturday said that India is being seen as a bright spot with growth projected to be highest in the world, PTI reported. 

"This is time of slowdown in global economy. India is being seen as a bright spot with growth projected to be highest in world," the news agency said quoting Modi as saying during the inaugural ceremony of new campus of National Institute of Securities Markets in Mumbai.

Modi is on his day visit to the state in order to lay foundation stone for the grand memorial of Maratha warrior king Chhatrapati Shivaji Maharaji and the metro rail projects in Mumbai and Pune. 

On the country's economy, Modi said, "In less than three years, government has transformed economy, cut fiscal deficit, current account deficit (CAD) and foreign exchange reserves have grown, inflation is lower." 

ALSO READ: PM Narendra Modi performs 'bhoomipujan' of Chhatrapati Shivaji's statue

Meanwhile, the Prime Minister Office of India's (PMO India) Twitter handle tweeted Modi as saying,"Financial markets can play an important role in the modern economy."