AMN /
Prime Minister Narendra Modi said the people’s welfare should be the basic foundation of any economic reform and the true reforms are those which lead to transform their lives.
Addressing the ET Global Business Summit in New Delhi, Mr. Modi called for creating new opportunities for citizens to progress saying opportunity is like an oxygen to the aspirational citizen. Mr. Modi stressed the need to increase the quality of life of the common citizen particularly the poor.
Saying that the NDA government has ended the era of high level corruption and crony capitalism, the Prime Minister added if a government is progressive, and runs an honest and efficient administration, the biggest beneficiaries will be the poor. He said poor governance hurts the poor people more than it hurts others.
Mr. Modi mentioned Global economy is passing through period of uncertainty and India’s policies must be to make a positive contribution to the rest of the world. He said during the last four quarters, the country has been the fastest growing economy in the world and FDI has increased by 39 percent in the last 18 months. He said since his government took office, growth has increased and inflation has decreased. He said said the highest ever urea, coal out put and electricity generation was achieved in 2015.
Asserting India’s commitment for climate change, the Prime Minister said New Delhi is committed to reduce the emission intensity of by 33 percent its GDP by 2030.
On subsidy, Mr, Modi said the government’s aim is not to eliminate it but to rationalize it.
