Linking Faith With Economy Was Symbol Of Colonial Minset: PM Modi On ‘Hindu Rate Of Growth’

Addressing the 23rd Hindustan Times Leadership Summit, Prime Minister Narendra Modi on Saturday (6 December) slammed narratives that associate India's past economic performance with the Hindu faith, NDTV reported.

“Today, India is the world’s fastest-growing major economy. Some call India the global growth engine, others call it a global powerhouse. There is no shortage of such praise today. But friends, has anyone ever read or heard India’s current rapid growth being called a ‘Hindu rate of growth’? When the economy is growing so fast, does anyone say that? The term ‘Hindu rate of growth’ was used when India was struggling to achieve even 2–3 percent growth," PM Modi said.

"Linking a country’s economic performance to the faith of its people was no coincidence. It was in fact a symbol of the colonial mindset. An entire society was reduced to a synonym for poverty," he added.

The Prime Minister stated that even in a divided global environment, India continues to act as a connecting force.

"We are at a juncture, where 1/4th of the 21st century has passed, and the world has seen many ups and downs - financial crisis, global pandemic, etc. These situations in some way or the other challenged the world... today the world is full of uncertainties, but amid this, our India is appearing in a different league. India is full of self-confidence," said PM Modi.

"When the world talks about slowdown, India writes stories of growth. When the world faces trust crisis, India becomes a pillar of trust," he added.

He criticised past governments for lacking confidence in the country’s own citizens.

The Prime Minister said his government changed this approach by allowing self-attested documents to be accepted as valid proof.

He described public trust as the most important foundation of any government.

"We have to make the country rid of the colonial mindset from every corner. I want to take the citizens forward with the vision for the next 10 years," the PM said.

He announced wider use of self-attestation to simplify procedures and reduce bureaucratic hurdles.

He said these steps fall under the Jan Vishwas Bill, which removes criminal penalties for minor compliance issues.

The Prime Minister highlighted the role of collateral-free loans, stating that Rs 37 lakh crore has reached small traders, street vendors, and weaker income groups.

"Even those demanding just Rs 1,000 are receiving loans without guarantees. This is governance that trusts its people," he declared.

Turning to the issue of unclaimed funds, the Prime Minister revealed startling — Rs 78,000 crore lying idle in banks, Rs 14,000 crore with insurance companies, Rs 3,000 crore in mutual funds, and Rs 9,000 crore in dividends.

He said district-level drives have been started to help people recover these amounts, and significant sums have already been returned.

He said the effort reflects the government’s focus on restoring public confidence by ensuring people receive their own money.

PM Modi appealed to citizens to shed what he described as "Macaulay's slavery mindset" by 2035, setting a ten-year target to overcome colonial legacies.

With folded hands, he sought public support for this vision and urged the nation to chart its own independent path despite challenges.

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