New Delhi: Prime Minister Narendra Modi said nearly 25 crore people had been lifted out of poverty over the past 10 years under his two successive governments during which the administration focused on the ease of living apart from skill development and employment generation. PM Modi reiterated India’s development trajectory stating that the country was the only major economy with high growth coupled with low inflation. India’s share in global growth has expanded to it has 16 per cent, the prime minister said while addressing a post-budget gathering at industry body CII.
Under the Modi administration, infrastructure building has attained unprecedented speed and scale, he said. His government had overseen a record increase in ministerial allocations over the past decade, while reducing tax rates to a record low, the PM said.
Speaking at post-budget conference of CII. @FollowCII.https://t.co/LeD1pTP7Ny
— Narendra Modi (@narendramodi) July 30, 2024
Ease of doing business
Highlighting the ease of doing business, the PM said India had 1.40 lakh startups. Nearly 8 crore individuals had started their own businesses with the backing of MUDRA loans, he said. India’s reputation as a destination known for its ease of doing business has received a boost from the eagerness of global investors to visit the country. He urged industry leaders to capitalise on this opportunity. “We should not let it pass,” he said.
India has already become a top mobile phone handset manufacturer and the government is also eyeing the auction of offshore mineral blocks, he said. The PM exhorted attendees at the CII conference to make India a leader in the sunrise sector. Sunrise sector is a term used to describe an industry or clutch of industries that are in a nascent stage and waiting to break out. In India, this includes space tourism and renewable energy production among other industries.
PM’s Viksit Bharat vision
The government’s focus on Viksit Bharat or making India a developed country will be realised through a fillip to manufacturing. This sector has taken major strides in the past decade with the government’s backing to the MSME sector, saidf the PM.
PM Modi reiterated his vision for Viksit Bharat, saying that while India received independence as a poor nation, it will “celebrate 100th year of Independence in 2047 as a developed country.”
Prime Minister Narendra Modi said that while taxes had hit a record low, 25 crore people had been lifted out of poverty over the past 10 years. Know more about what he said during the post-Budget conference at CII. Economy Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
