New Delhi, Aug 15 (IANS): Prime Minister Narendra Modi on Tuesday said that despite the world still struggling to recover from the ill effects of the Covid-19 pandemic which led to inflation, the Centre has tried to keep people of India insulated from it and will try to curb it completely.

"The world is still recovering from the impact of the coronavirus pandemic, which has led to high inflation. However we have tried to control price rise and will strive to completely finish inflation," Modi said in his 90-minute long address to the nation on Independence Day

He said that due to supply chain disruptions, several critical good had to be imported, which were costly.

"Unfortunately in the process, we also imported some inflation. We have tried to control it, but want to abolish it completely. I will strive to finish it," Modi added.

While touching upon other issues, the Prime Minister said that India is today a young nation, at a time when other countries are ageing.

"India has all the three factors -- democracy, demography and diversity -- which have the potential to realise the dreams of the country."

He said the youth from small cities are also making a lot of impact in various fields.

"I believe in Yuva Shakti. The country's youth has got India in the world's first three startup ecosystems," Modi noted.

He further added that India's biggest capability is trust in the government, in country's bright future and the world's trust in India.

Modi gave his personal guarantee that India will become the third largest global economy in next five years.