‘Modinomics’ transformed India: Rajnath Singh in Kolkata

Union Defence Minister Rajnath Singh on Wednesday (September 16, 2026) said that “Modinomics” has transformed India, adding that before 2014, India did not have the necessary leadership to tap into the full potential of both manpower and brainpower.

Addressing a press conference in Kolkata, Mr. Singh said: “Over the last 12 years, 25 crore people have been brought out of poverty, while more than 94 crore people have come under the Social Security Net.”

“PM Modi provided an ecosystem for both these powers to work to their full potential,” the Defence Minister said.

The Minister added that in August 2026 alone, UPI recorded 23.66 billion transactions, with a total transaction value of approximately ₹29.88 lakh crore. He said that such UPI payments have increased the digital accessibility of street vendors and connected them with the formal financial system.