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PM addresses post-budget webinar on ‘Financing for Growth & Aspirational Economy

Published By : Admin | March 8, 2022 | 11:57 IST
“Government has taken many steps for maintaining the momentum of high growth in this budget”
“We have done many fundamental reforms and made new schemes to strengthen MSMEs. The success of these reforms is dependent on strengthening their financing”
“Our Financing Sector will also have to consider innovative financing and sustainable risk management of new futuristic ideas and initiatives”
“India’s aspirations are also linked with natural farming and organic farming”
“it is necessary to accelerate environment friendly projects. Study and implementation of green financing and such new aspects is the need of the hour today”

The Prime Minister, Shri Narendra Modi today addressed post-budget webinar on ‘Financing for Growth & Aspirational Economy. This is tenth such post-budget webinar addressed by the Prime Minister.

At the outset the Prime Minister greeted on International Women's day and noted that India has a woman Finance Minister who has given such a progressive budget.

The Prime Minister said that Indian economy is once again picking up momentum after once-in-a-century pandemic and this is reflection of our economic decisions and strong foundation of economy. He said that the government has taken many steps to maintain the momentum of high growth in this budget. “By encouraging foreign capital flows, reducing tax on infrastructure investment, creating institutions like NIIF, Gift City, new DFIs, we have tried to accelerate financial and economic growth”, he said. “The country's commitment to the widespread use of digital technology in finance is now reaching the next level. Be it 75 Digital Banking Units or Central Bank Digital Currency (CBDCs) in 75 districts, they reflect our vision”, he added.

Mentioning the Aatmanirbhar Bharat Abhiyan, the Prime Minister emphasized the need to mull over the ways of reducing dependence on other countries by exploring different models of financing the related projects. He gave example of PM Gatishakti National Masterplan as one such step.

In the direction of balanced development of the country, the Prime Minister reiterated priority of the schemes such as Aspirational Districts Programme or the development of eastern India and the North East.

The Prime Minister stressed the link between India’s aspirations and strength of MSME. “We have done many fundamental reforms and made new schemes to strengthen MSMEs. The success of these reforms is dependent on strengthening their financing”, he said.

The Prime Minister insisted that Industry 4.0 is not possible till the country moves ahead in the fields like fintech, agritech, meditech and skill development. Help of financial institutions in such areas will take India to new heights in industry 4.0, said the Prime Minister.

The Prime Minister talked at length about the vision of finding sectors where India can figure in top 3 countries. He asked whether India can emerge among top 3 countries in the sectors like constructions, startups, recently opened up sectors like drones, space and geo-spatial data. For this, he said, it is imperative that our industry and start up get full support of the financial sector. The expansion of entrepreneurship, innovation and search for new markets among the startups will happen only when there is deep understanding of these ideas of future among those who finance them. “Our Financing Sector will also have to consider innovative financing and sustainable risk management of new futuristic ideas and initiatives”, Shri Modi emphasized.

The Prime Minister stressed that a big base of Indian economy is rural economy. Government is taking steps like strengthening SHGs, Kisan Credit Cards, Farmer Producer Organisations, and Common Service Centers. He asked the gathering to keep rural economy in the centre of their policies.

He said India’s aspirations are also linked with natural farming and organic farming. “If someone is coming forward to do new work in them, then it is necessary to think about how our financial institutions can help him”, he added.

Referring to the work and investment in the health sector, the Prime Minister emphasized that in order to tackle the challenges relating to medical education, it is critical to have more and more medical institutions. “Can our financial institutions and banks can prioritize this in their business planning”, the Prime Minister asked.

The Prime Minister touched upon environmental and ecological dimension of the budget. He reiterated India’s goal of net-zero by 2070 and said that the work in this direction has already started. “To speed up these works, it is necessary to accelerate environment friendly projects. Study and implementation of green financing and such new aspects is the need of the hour today”, he said.

 

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PM to visit Andhra Pradesh and Karnataka on 1 August
July 31, 2026
PM to lay the foundation stone, inaugurate and dedicate to the nation multiple development projects worth over ₹17,900 crore in Bhogapuram in Vizianagaram, Andhra Pradesh
PM to inaugurate the Alluri Sitarama Raju International Airport at Bhogapuram
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Viveka Smaraka commemorates Swami Vivekananda's historic visit to Mysuru in November 1892
Viveka Smaraka to Inspire Youth Through Value-Based Education, Leadership and Personality Development

Prime Minister Shri Narendra Modi will visit Andhra Pradesh and Karnataka on 1 August 2026. At around 11 AM, the Prime Minister will undertake a walk-through of the passenger terminal building of Alluri Sitarama Raju International Airport at Bhogapuram in Vizianagaram district, Andhra Pradesh. At around 11:30 AM, he will inaugurate the airport and lay the foundation stone, inaugurate and dedicate to the nation multiple development projects worth over ₹17,900 crore in Bhogapuram. He will address the gathering on the occasion. Thereafter, at around 3:30 PM, the Prime Minister will inaugurate the Swami Vivekananda Cultural Youth Centre - Viveka Smaraka at Sri Ramakrishna Ashrama in Mysuru. He will also address the gathering on the occasion

PM in Andhra Pradesh

Prime Minister Shri Narendra Modi will inaugurate the Alluri Sitarama Raju International Airport at Bhogapuram, Andhra Pradesh. Developed under the Public-Private Partnership (PPP) mode at a cost of over ₹5,640 crore, the Greenfield airport has been designed to handle 6 million passengers annually.

The passenger terminal building has been designed to provide a modern, seamless and efficient travel experience. The airport incorporates advanced infrastructure, cutting-edge technologies and sustainable features to enhance operational efficiency and meet future aviation requirements.

The airport has been equipped with advanced technologies such as Artificial Intelligence (AI), Building Information Modelling (BIM), Airside 4.0 technologies, Airport Predictive Operations Centre (APOC), biometric passenger processing, automated baggage handling systems and intelligent operational monitoring solutions. These systems are expected to enhance operational efficiency, improve passenger convenience and safety, and optimise resource utilisation.

The project incorporates several sustainability features, including energy-efficient heating, ventilation and air conditioning (HVAC) systems, energy-efficient lighting, a 5 MW solar power plant, rainwater harvesting, smart building management systems, waste management initiatives, electric vehicle charging infrastructure, and environmental monitoring measures. The terminal has been designed in accordance with Green Building Standards and is registered with the U.S. Green Building Council (USGBC).

The airport's architectural design draws inspiration from the cultural heritage of Andhra Pradesh. The terminal's roof profile reflects the traditional Chuttilu cottages and the landscapes of the Araku Valley, while its flowing form symbolises the graceful movement of a flying fish, blending regional architectural elements with contemporary airport design. The airport is expected to provide a significant boost to tourism, trade, investment and employment generation in Andhra Pradesh while strengthening air connectivity in the region.

Prime Minister will lay the foundation stone of the ASIP Semiconductor Project at Visakhapatnam, being developed with an investment of over ₹460 crore. The facility is being developed by ASIP Technologies Pvt Ltd in partnership with APACT, Republic of Korea. It is Andhra Pradesh's first semiconductor manufacturing facility approved under the India Semiconductor Mission. The facility will manufacture around 96 million semiconductor chips annually and create high-skilled employment opportunities, while also fostering a robust ancillary ecosystem to support semiconductor manufacturing.

Prime Minister will lay the foundation stone for the Transmission System for Integration of Kurnool-IV Renewable Energy Zone (REZ) - Phase-I (4.5 GW), being implemented by POWERGRID through a Special Purpose Vehicle (SPV), with an investment of about ₹5,550 crore.

Prime Minister will also inaugurate the Transmission System for Kurnool Wind Energy Zone / Solar Energy Zone (Andhra Pradesh) – Part A & Part B, implemented at a cost of around ₹3,550 crore, and the Transmission Scheme for Solar Energy Zone in Ananthapuram (2,500 MW) and Kurnool (1,000 MW), implemented by POWERGRID at a cost of over ₹820 crore.

These transmission projects will enable the evacuation of power generated from the renewable energy zones in Kurnool and Ananthapuram and the transmission of power to beneficiaries across the country through the National Grid. They will facilitate the integration of a large quantum of renewable energy into the grid, improve the availability of clean power for demand centres, and contribute to India's energy transition and decarbonisation efforts by reducing dependence on fossil fuel-based power generation.

Prime Minister will dedicate to the nation and lay the foundation stone of National Highway projects worth over ₹1,880 crore. The projects to be dedicated include the four-lane access-controlled Greenfield highway from Recherla to Guruvaygudem section of NH-365BG, the four-lane access-controlled Greenfield highway from Guruvaygudem to Devarapalle section of NH-365BG, and the four-lane Tadipatri Bypass on NH-67. Prime Minister will also lay the foundation stone of the high-level bridge at Lingasamudram on the Penchalakona–Yerpedu section of NH-565. These projects will ease congestion in Vijayawada and several other cities, improve road safety, reduce travel distance and travel time between Visakhapatnam and Hyderabad, and promote regional connectivity.

PM in Karnataka

Prime Minister Shri Narendra Modi will inaugurate the Swami Vivekananda Cultural Youth Centre - Viveka Smaraka at Mysuru, Karnataka.

The Viveka Smaraka commemorates Swami Vivekananda's historic visit to Mysuru in November 1892 during his journey across India. During his stay, he delivered discourses, interacted with scholars and devotees, and received the patronage of Maharaja Sri Chamarajendra Wadiyar X, whose support enabled his journey to the Parliament of Religions in Chicago in 1893.

Established at the historic Niranjana Math, the Viveka Smaraka is spread across a built-up area of over 81,000 square feet and comprises a main building and an annex block. It houses a 4-D Experience Centre, an exhibition hall, an amphitheatre with a seating capacity of around 700, classrooms, conference rooms, a library, a reading room, a meditation and yoga hall, and a book stall. The centre also includes dedicated facilities for students preparing for competitive examinations.

Dedicated to the life, message and ideals of Swami Vivekananda, the Cultural Youth Centre aims to serve as a vibrant hub for value-based education, leadership development and personality building. It is expected to benefit more than 10,000 students from nearby educational institutions, as well as urban and rural youth, through lectures, workshops, short-term courses and capacity-building programmes inspired by Swami Vivekananda's philosophy of nation-building and character development.