New Delhi: Prime Minister Narendra Modi on Sunday said that political stability and political predictability restored investor confidence in India. He added that his government remained committed to reforms, which have been time and again shown in letter and spirit.
Speaking to news agency PTI, the PM observed that this year’s Budget reflected India’s yearning to be a developed nation. He added that this year’s budget was not a ‘now or never’ moment born out of compulsion, but a ‘we are ready’ moment, which was born out of preparation and inspiration.
Government committed to reforms: PM Modi
“The political stability and political predictability restored investor confidence in India. Reform is the commitment of the govt, something it has shown in letter and spirit. This year’s budget reflected India’s yearning to become a developed nation,” PM Modi said further.
He added, “Budget is not a ‘now or never’ moment born out of compulsion but a ‘we are ready’ moment born out of preparation, inspiration. Stronger manufacturing, services, and MSMEs enable India to negotiate trade pacts from a position of strength.”
‘Government has a duty to modernise the defence sector’
Govt will do whatever it takes to support the country’s defence forces and strengthen them. It has a duty to modernise the defence sector in line with current realities,” the PM pointed out while referring to the defence budget. Hitting out at the previous UPA Government, thePM noted, “During UPA rule, talks would begin and then break down; a little real substance was achieved despite long negotiations.
Pointing about private sector, he added, “The private sector is critical for the next phase of economic transformation, requests ‘decisive response from them. It must focus less on protecting margins and invest aggressively in R&D, supply chain, and quality.” “India is a digital leader in the world. It was made possible by fundamental reforms in how people transact via the UPI platform,” the PM observed.