New Delhi: At a time when the nation is witnessing a slow economy with the GDP at a six-year low, Prime Minister Narendra Modi in Rajya Sabha on Thursday said that the fundamentals the Indian economy are still strong and have the inherent quality to move ahead. Also Read - 'Unprecedented Peace in Northeast,' Claims PM Modi in Rajya Sabha as Opposition Charge of Unrest

“The core principles of the Indian economy are still strong and have the inherent quality to walk ahead. The youth wants us to think on a wider and bigger scale and hence, we’ve set the target for a $5 trillion economy,” PM Modi said. Also Read - J-K Has Witnessed Numerous Developments Post Abrogation of Article 370: PM Modi in Rajya Sabha

He also stated that the consequence of talking about a 5 trillion dollar economy is that those who oppose it also have to talk about 5 trillion dollars. Time has come for all of us to change our mindset,” he added.

Saying that small cities are massively contributing to the growth and development of the nation, PM Modi said his government has tried to work on the economical eco-system of these small cities.

“Today, digital transactions are being seen the most in smaller cities and Tier-2, Tier-3 cities are moving forward as far as the construction of modern infrastructure is concerned,” he added.

He also stated that the Tier-II and Tier-III cities are contributing heavily to sports, start-ups and other sectors.

“We’ve stressed on Make in India and we can see positive results. FDI numbers are proving its effects. We merged banks and now it will strengthen the banking structure for the future. GST was changed several times. GST is a major achievement for India’s federal structure,” he added.