New Delhi: Prime Minister Narendra Modi highlighted India's fiscal discipline as a beacon for the international community, especially in the face of global uncertainties. He pointed out India's exceptional performance in terms of growth and stability amidst a backdrop of low global growth and high inflation.
"India is demonstrating robust economic growth and stable inflation rates in a challenging global environment. Our fiscal discipline during the pandemic serves as an example for the world," PM Modi declared.
He made these remarks during his opening speech at the 'Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference' hosted by the Confederation of Indian Industry (CII) at the Vigyan Bhawan in New Delhi on Tuesday.
PM Modi also mentioned India's steady rise in global exports of goods and services, noting that India's share in global economic growth has climbed to 16 per cent, despite facing major global disruptions such as the pandemic, natural calamities, and conflicts. He further highlighted the significant increase in India's foreign exchange reserves.
"India's exports of goods and services are on the rise, and our country's contribution to global economic growth has reached 16 per cent," PM Modi stated.
He also addressed the manufacturing sector in the budget, emphasizing the importance of 'Make in India', the simplification of foreign direct investment (FDI) regulations across sectors, the development of multi-purpose logistics parks, and the promotion of Production Linked Incentives (PLI) for 14 sectors. The budget announced the establishment of investment-ready parks in 100 districts across the country, which will serve as new centers for 'Viksit Bharat'. "These 100 cities will emerge as key nodes of 'Viksit Bharat'," he added.
PM Modi also highlighted key budget measures that will contribute to the country's future development, including increased funding for nuclear power, the Digital Public Infrastructure for agriculture, the introduction of Bhu-Aadhar card for land parcel identification of farmers, a Rs 1000 crore venture capital fund for the space sector, the critical mineral mission, and the upcoming auction of offshore mining blocks.
"These measures will pave the way for new progress," PM said.
The conference was attended by over 1000 participants from various sectors including industry, government, the diplomatic community, and think tanks, both in person and remotely through CII centers across the country and abroad.
