Tuesday, June 28th, 2022 08:02:32

Centre accelerate financial and economic growth by encouraging foreign capital flows and reducing tax on infra investment, says PM Modi

Updated: March 8, 2022 2:00 pm

Prime Minister Narendra Modi today underscored the importance of building digital highways to rural India, tailoring financial inclusion products to suit rural needs. He said, Indian economy is picking up pace after pandemic which  reflects fundamentals and reforms of  the government. He said the Union Budget 2022-23 has introduced many reforms to make sure this momentum is maintained. Addressing Post-Budget Webinar on Financing for growth and aspirational economy, Prime Minister added that the centre has tried to accelerate financial and economic growth by encouraging foreign capital flows and reducing tax on infra investment.

He said the country’s startups can grow only when entrepreneurship should be encouraged and stress on innovation and  focus on new business areas. Mr. Modi emphasized  that the financing sector needs to look at new futuristic ideas, innovative financing of initiatives and sustainable risk management. He also asked to identify 8 to 10 sectors where India can be among the top three.

Prime Minister highlighted the  country’s commitment to the widespread use of digital technology in finance is now reaching the next level. He added that  75 Digital Banking Units in 75 districts and Central Bank Digital Currency reflect government’s vision.

Mr Modi also said India has set a target of net-zero carbon emissions by the year 2070 and it is necessary to accelerate environment-friendly projects to speed up work on this.

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