STATING that the Indian economy is once again picking up momentum after once-in-a-century pandemic and this is reflection of our economic decisions and strong foundation of economy, the Prime Minister Narendra Modi has exhorted Financing Sector to consider innovative financing and sustainable risk management of new futuristic ideas and initiatives. Addressing post-Budget Webinar, on ‘Financing for Growth & Aspirational Economy in New Delhi on Wednesday, the Prime Minister underlined the need for accelerating environment friendly projects, while opining that the study and implementation of green financing and such new aspects is the need of the hour today.

 

Beginning his address by greeting on International Women Day, Modi pointed out that India has a woman Finance Minister who has given a progressive budget. Noting the Government has taken many steps to maintain the momentum of high growth in this Budget, the PM said we have tried to accelerate financial and economic growth by encouraging foreign capital flows, reducing tax on infrastructure investment, creating institutions like NIIF, Gift City and new DFIs.

 

Underlining the country’s commitment to the widespread use of digital technology in finance reaching new levels, Mr. Modi cited 75 Digital Banking Units and Central Bank Digital Currency CBDCs) in 75 districts. Emphasising the need to mull over the ways of reducing dependence on other countries by exploring different models of financing the related projects, the PM batted for the Aatmnirbhar Bharat Abhiyan, citing PM Gatishakti National Master Plan as one such step. However, he reiterated the priority of schemes such as the Aspirational Districts Programme or the development of eastern India and the North East reiterated to hit the balanced development.