India’s economy a bright spot due to good policies: Modi

New Delhi, March 28 (IANS) Prime Minister Narendra Modi on Monday said that India's economy was a bright spot in the world due to his government's good policies and not good fortune.

Addressing 'Bloomberg India Economic Forum 2016' meeting here, he said that the Indian economy was doing well despite various problems and bad weather conditions that impacted agriculture.

"We have not been lucky with the global trade. We have not been lucky with the weather. But the fact remains that the Indian economy is doing well as a result of effective management," he said.

The prime minister took a dig at the opposition parties, without naming any, saying there were people who remained confused as to how this could be possible.

Outlining his government economic policies, Modi said all possible efforts were being made to achieve higher growth rate in all sectors.

The prime minister said he was confident that despite adverse situations, the government would be able to achieve the desired results.

He said investments during the third quarter of the current fiscal had been a "record" in sectors like agriculture and others.

"This is a concrete evidence that 'Make in India' initiative of the government is having a good impact," he said.

During his speech, which was shown live in various countries, Modi spoke in detail about India's rural economy, saying that once it improved it would have a good effect on other sectors as well.

Stressing on good irrigation and quality seeds, Modi said that the central government had its focus on the problems of the farmers.

"We plan to double farmers' income in the years to come, he said, adding that the government was investing in cold storages and trying to reduce post-harvest losses of the farmers.

"We will ensure that higher share in profits (from farm produce) goes to the farmers," he said.

"I am sure that we will achieve the target of doubling the income of farmers," the prime minister said.

He also criticised the previous central government for its failure to implement the Food Security Act in totality and not doing much through the Mahatma Gandhi National Rural Employment Guarantee Act scheme.

Modi said that his government was performing well in these fields.

He said he would be able to transform the country with public support.

"There will be difficulties, but it's doable and we will do it," the prime minister added.