NEW DELHI: Two days after former RBI governor Raghuram Rajan’s remark that the country is
‘dangerously’ close to Hindu rate of growth, Prime Minister Narendra Modi, asserted, albeit indirectly, that India is moving forward with new capabilities.
The PM said India in today’s time is considered a bright spot in the global economy and has attracted the highest FDI in 2021-22. Speaking at a post-Budget webinar on ‘Enhancing Efficiency of Financial Services for Creating Growth Opportunities’ on Tuesday, Modi claimed the banking system has come into profit after being on the verge of collapse 8-10 years ago.
“In the era of ‘Industry 4.0’, platforms developed by India are becoming models for the world”. Modi made a fervent appeal to India investors to increase investment taking advantage of opportunities created by the Budget 2023-24.
“I would also call upon the private sector of the country to increase their investment just like the government so that the country gets maximum benefit from it,” he said. He added that the increase in the tax base has come as a proof that people have faith in the government believing that their taxes paid are being properly utilised for nation building. Around 1.20 crore MSMEs have received the supports from the government during the pandemic, he noted.