AMN /MUMBAI
Prime Minister Narendra Modi today reiterated that his government’s fight against corruption and black money has been going since the day they assumed office.
Addressing a public rally at the Bandra Kurla Complex in Mumbai this evening, he assured people that this battle won’t end till they win it. Mr Modi said, the government took a big decision against black money and corruption on November 8 and 125 crore Indians endured pain but did not stop supporting me. He said, there were efforts to mislead and even intimidate people but they supported the government in its fight against this menace.
Hitting out at parties opposing demonetisation, the Prime Minister said, this is not a simple battle. Mr Modi also warned of ruin for the dishonest after the expiry of December 30 deadline for depositing scrapped currency. He said, dishonest people should not underestimate the mood of the country against corruption. He said that after December 30, the troubles of honest people will start to reduce and the problems of dishonest people will begin to increase. He was addressing the rally after laying the foundation stones for two Mumbai Metro projects, the Elevated Railway Corridors Project and the Mumbai Trans Harbour Link project at the MMRDA grounds.
Earlier Inaugurating the newly-built campus of SEBI’s National Institute of Securities Management in Raigad district of Maharashtra, Mr Modi said, there will be only short term pain due to the demonetisation of high-value notes, but the gain will be long term. The Prime Minister said, his aim is to make India a developed country in one generation. He said, the NDA Government is committed to following sound and prudent economic policies to ensure that India continues to have a bright future in the long run.
Speaking on India’s economic transformation and role of financial markets, Mr Modi pitched for higher tax contribution by market participants. He said, people who profit from financial markets must make a fair contribution to nation building through taxes. The Prime Minister said, SEBI should work for closer linkage between spot markets like e-NAM and derivatives to benefit farmers. He said, world class security and commodity markets are key to India’s growth and emphasized to make country’s financial markets more relevant to the new era. Mr. Modi said, the government is very keen to encourage start-ups and stock markets are essential for the start-up ecosystem.
The Prime Minister said, the government will not take decisions for short term political gains and will ensure India has a bright future. He said, the government will not shy away from taking tough decisions. Mr Modi also said, in less than 3 years, the government has transformed the economy. He said, in 2012-13, fiscal deficit had reached alarming levels, currency was falling sharply, inflation was high and current account deficit was rising. Mr. Modi said, in the time of global slowdown, India is being seen as a bright spot with growth projected to be highest in the world. He also said, Goods and Services Tax will soon be a reality. Mr Modi said, Foreign Direct Investment in the country is at record levels.