PM Modi eyes 2024 I-Day speech; attacks corruption, dynastic politics

New Delhi: In his last Independence Day address from the rampart of the Red Fort of his second term, Prime Minister Narendra Modi attacked corruption, dynastic politics and appeasement keeping the 2024 general elections in mind.

He told the country he would return to this rampart on Independence Day next year and present the roadmap for the next five years.

Modi said that corruption has badly affected India's capabilities and the country has to resolve to not tolerate it in any form.

"It is Modi's life-long commitment to keep fighting against corruption...My government weeded out 10 crore fake beneficiaries of welfare schemes, seizure of ill-gotten assets rose by 20 times," he said.

He also said that the politics of appeasement has inflicted the most harm on social justice.

Modi, addressing his 10th independence day speech, said that democracy has been affected by the ills of nepotism and alleged that dynastic parties work with the mantra of "party of the family, by the family and for the family".

"Fellow citizens" become "family members"

In a switch from addressing the people of India as "my fellow citizens", Modi addressed the nation as his "family members" while speaking from the ramparts of the Red Fort on the 77th Independence Day.

Addressing the nation on Independence Day for the 10th consecutive time as prime minister, Modi said global experts are saying that India will not stop now.

"All rating agencies lauding country," he said.

Youth power

Modi said decisions and actions taken during the "Amrit Kaal" -- the period until 2047, the centenary of India's Independence -- will impact the millennium to come.

He said India is out of the "slave mentality" and marching ahead with new confidence and resolve.

"We are fortunate to live in the 'Amrit Kaal' of independence. The decisions we make in this 'Amrit Kaal', our actions and sacrifices, would pave the way for a glorious history spanning the next millennium," PM Modi said.

"The events of this era will impact the next millennium," he said.

The prime minister said India has "demography, democracy and diversity".

"These three have the capacity to fulfil all dreams... While other countries are growing old, India is young. We have the highest number of youths in the world," Modi said.

PM Modi on inflation

Modi said the government will be taking more measures to tackle inflation so as to minimise the burden of price rise on people.

He said the world is grappling with high inflation, and when India imports goods, it also imports inflation.

"The world is yet to fully recover from the impact of Covid pandemic. The war has created yet another problem. The world is grappling with the problem of inflation. Inflation has gripped the global economy," the prime minister said.

Further, he said when India import goods from other countries, "unfortunately" it also imports inflation.

Modi said the government has taken several steps to keep inflation under control, and some success has been achieved.

"But we cannot be satisfied (just) because our situation is better than the world. We have to take more steps to minimise the burden of price rise on our people. We will definitely take the steps. My efforts will continue," he said.

The Prime Minister's assertion also comes a day after retail inflation jumped to 7.44 per cent in July, primarily driven by costlier tomatoes and vegetables.

For the first time in the current fiscal, retail inflation breached the Reserve Bank of India's comfort level of 6 per cent.

The Consumer Price Index (CPI) based inflation surged to 7.44 per cent in July, much higher than 4.87 per cent in June.

Retail inflation stood at 6.71 per cent in July 2022 and the previous high was recorded at 7.79 per cent in April 2022.

RBI has the mandate to keep retail inflation in the range of 2 to 6 per cent and after remaining above the upper limit for most of the 2022-23 financial year, inflation was in the central bank's comfort zone this fiscal till June.

While unveiling the bi-monthly monetary policy last week, RBI Governor Shaktikanta Das had warned of a substantial increase in headline inflation in the near-term and revised upwards the inflation forecast for the second quarter to 6.2 per cent.