Prime Minister Narendra Modi praised Bharat’s fiscal discipline, calling it a role model for the world amidst global uncertainties. He highlighted Bharat’s exceptional growth and stability during his inaugural address at the ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ organized by the Confederation of Indian Industry (CII) at Vigyan Bhawan in New Delhi on Tuesday.
“Bharat is showing high growth and low inflation in a low-growth and high-inflation global scenario. Bharat’s fiscal prudence despite the pandemic is a role model for the world,” said PM Modi.
PM Modi also noted Bharat’s increasing contribution to global goods and services exports and emphasised that Bharat’s share in global growth has reached 16 percent despite significant global shocks like the pandemic, natural disasters, and wars. Additionally, he pointed out the robust growth in Bharat’s foreign exchange reserves.
“Bharat’s contribution to the global goods and services export is increasing continuously and Bharat’s share in global growth today has reached 16 percent,” he reiterated.
In his speech, PM Modi addressed key aspects of manufacturing highlighted in the Budget, including the Make in Bharat initiative, simplification of FDI rules in various sectors, and the introduction of multi-purpose logistics parks. The Budget also announced plug-and-play investment-ready parks for 100 districts, which PM Modi believes will become new hubs for Viksit Bharat.
He also underscored significant budgetary announcements that promise to propel the country’s future growth, such as increased allocation for nuclear power generation, Digital Public Infrastructure for agriculture, the Bhu-Aadhar card for assigning numbers to land parcels of farmers, a Rs 1,000 crore venture capital fund for the space economy, the Critical Mineral Mission, and the upcoming auction of offshore blocks for mining.
“These new announcements will open new avenues of progress,” PM Modi remarked.
The conference was attended by over 1000 participants from industry, government, the diplomatic community, and think tanks, with many others joining from various CII centres across the country and overseas.
PM Modi also called on the industry to compete with the government in creating jobs and investments, urging them to adopt the motto “Make Viksit Bharat your motto and work towards it.”
