'Indian Economy Picking Up Pace, Reflecting Reforms of Our Govt': PM Modi

Indian economy is picking pace after the pandemic, reflecting the fundamentals and reforms of our government, Prime Minister Narendra Modi said during a webinar on 'Financing for Growth & Aspirational Economy' on Tuesday, 8 March.

(Photo: Screenshot/Youtube)

Indian economy is picking pace after the pandemic, reflecting the fundamentals and reforms of our government, Prime Minister Narendra Modi said during a webinar on 'Financing for Growth & Aspirational Economy' on Tuesday, 8 March.

Talking about this year's Budget, PM Modi said that the government has taken steps to maintain economic growth momentum, "By encouraging foreign capital flows, reducing tax on infra investment, creating institutions like NIIF, Gift City, new DFIs, we have tried to accelerate financial and economic growth."

PM Modi said that there is a need to identify 8-10 sectors where India can be among the top three. "It's essential for financial institutions to support such companies," he said.

"Our startups can grow only when we encourage entrepreneurship, lay stress on innovation, focus on new business areas. The financing sector needs to look at new futuristic ideas, innovative financing of initiatives and sustainable risk management," he added.

PM Modi also underscored the importance of building digital highways in rural India and "tailoring financial inclusion products to suit rural needs."

PM Modi also said that India had set a target of net-zero carbon emissions by the year 2070. "To speed up work on this, it's necessary to accelerate environment-friendly projects."

He also extended his greetings on International Women's Day.

"As we hold discussions regarding Budget today, it is a matter of pride that India has a woman finance minister who presented a progressive budget," he said.