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PM addresses Economic Times Global Business Summit

Published By : Admin | February 23, 2018 | 21:52 IST
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The Prime Minister, Shri Narendra Modi, today addressed the Economic Times Global Business Summit in New Delhi, on the theme: New Economy – New Rules.

Noting that the Union Government is going to complete four years of assuming office in a few months, he said that a definite change is now visible. He said this change in the economic and social content, represents the essence of the New Rules for the New India and the New Economy.

The Prime Minister said that within the last four years, the discourse has changed from India being a “Fragile Five” economy, to the target of India becoming a “Five Trillion Dollar” economy. The Prime Minister presented facts and figures to indicate how India is playing a key role in the entire world’s growth. He said that in nominal terms, India’s share of the world GDP has risen from 2.4% in 2013, to 3.1% in 2017. He said India is performing better on various macro-economic parameters.

The Prime Minister said that this change has come about due to a new approach and a new work culture. He said India’s competitiveness is being validated by the entire world today.

Shri Narendra Modi recalled that when he had last attended this Global Business Summit, GST was still, just a possibility. Today, he added, it is a reality, which has delivered a better tax compliance system and a better revenue system. The Prime Minister mentioned other reforms such as the Insolvency and Bankruptcy Code.

The Prime Minister said that speed, scale and sensitivity are important to ensure the success of the Government’s initiatives. He gave some examples of the increase in pace in the infrastructure sector.

The Prime Minister said that there is unprecedented investment being made today in infrastructure, agriculture, technology, health sector, and education sector.

The Prime Minister mentioned the initiatives taken in the health sector, such as Mission Indradhanush, Jan Aushadhi Stores, and the Ayushman Bharat scheme.

Talking about the Digital India Mission, the Prime Minister said that the trinity of 100 crore bank accounts, 100 crore Aadhaar cards and 100 crore mobile phones, would create a unique ecosystem, not seen anywhere else in the world. He also spoke of initiatives taken for the MSME sector.

The Prime Minister recalled that in his last address at the Economic Times Global Business Summit, he had spoken of Housing for All,Power for All, Clean Cooking for All, Health for All,and Insurance for All. He outlined the steps that have been taken in this regard in house construction, Saubhagya Yojana, Ujjwala Yojana, and insurance. Saying that the Government’s initiatives are aimed at empowering the poor, the Prime Minister also mentioned the construction of toilets, distribution of loans through the Mudra Yojana, and distribution of soil health cards.

The Prime Minister mentioned the announcement in the recent Union Budget, on MSP.

The Prime Minister appealed that those entrusted with the responsibility of ensuring rules and ethics in various financial institutions, should work with full dedication – especially those who are responsible for supervising and monitoring. He made it clear that the Government would take strict action against irregularities in financial matters. He said that the illegal accumulation of people’s money is unacceptable, and this is the basic mantra of “New Economy – New Rules.”

 

 

 

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Prime Minister Narendra Modi Chairs Second High-Level Meeting with Secretaries of Government of India
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Prime Minister Shri Narendra Modi chaired the second high-level meeting with Secretaries to the Government of India at his residence at 7, Lok Kalyan Marg earlier today. He reviewed the future action agenda of Ministries and Departments dealing with Finance and Economy, Commerce and Industry, and Technology sectors. The meeting focused on accelerating progress towards the goals of Viksit Bharat.

Prime Minister called for a strong focus on team building across Ministries and Departments, urging officers to work with a shared sense of purpose. He emphasised the need to break both horizontal and vertical silos within the Government so that departments function in close coordination and deliver integrated outcomes.

Highlighting the importance of citizen-centric governance, Prime Minister said that the people of India must remain at the centre of governance. He reminded that every decision and policy should be guided by the interests and aspirations of the common citizen.

Prime Minister stressed that while India is making significant investments in infrastructure, equal priority must be given to developing indigenous technologies. He underscored the importance of technological self-reliance and building domestic capabilities in critical sectors.

Prime Minister underlined that energy security is closely linked with national security, economic stability and citizens’ welfare. Prime Minister said India must achieve self-reliance in the energy sector through innovation, diversification and accelerated capacity creation.

Emphasising that reforms are not merely a fashionable term but a continuous necessity for effective governance, Prime Minister stressed the need to reform processes, improve work culture and strengthen institutional efficiency.

Prime Minister said that growing use of technology must be accompanied by a strong focus on cybersecurity to safeguard digital systems and infrastructure. He stressed the need for constant vigilance against emerging cyber threats. He called for encouraging greater participation of young innovators and entrepreneurs in the cybersecurity ecosystem and emphasised that it should evolve into a nationwide movement.

Prime Minister also emphasised the importance of proactive communication on strategic sectors where the country is undertaking major initiatives, to counter misinformation and unfounded fears surrounding such efforts.

Prime Minister says that new academic courses should be planned in partnership with industry to equip the workforce with skills required by emerging and future industries. He also observed that a government must always remain youthful, dynamic and forward-looking, continuously adapting to new challenges and opportunities with agility and innovation.

The meeting featured detailed discussions by Secretaries on the progress, priorities and implementation issues across their respective domains. The meeting was attended by the Cabinet Secretary, Secretaries of key Ministries and Departments, and senior officials from the Prime Minister’s Office.