New Delhi: Prime Minister Narendra Modi on Friday asked the industry to innovate and come up with new investments. He also urged financial institutions to adopt innovative models to enhance infrastructure financing, while enhancing the quality of project approval and evaluation.In a post-Budget webinar, after listing the steps taken by the government over the past decade on infrastructure, the Prime Minister said: “The world of industry will have to come forward with new investments and innovations. Financial institutions and analysts will have to help prepare practical solutions and boost market confidence. When government, industry and knowledge partners move together, reforms turn into results.”He urged stakeholders to take advantage of the new opportunities provided by the budget.
Prime Minister Modi says India’s rapid reform is accelerating growth and investment
Modi said the government has eased operations, developed technology-driven governance solutions and is pushing a wave of reforms. “To sustain this momentum, we must focus not only on policy intent but also on excellence in implementation. Reforms should be evaluated not by announcement, but by their impact at the ground level. “We must increase transparency, speed and accountability through extensive use of artificial intelligence, blockchain and data analytics, and alongside this, we must also conduct continuous monitoring of impact through grievance redressal systems,” he said.
The Prime Minister said that every budget is a step towards a greater goal, which is to develop the country. “Every reform, every customization, every change should only be seen as part of this long journey.”Seeking inputs on further measures, he said bond market reforms are needed for long-term economic growth. “…We have to ensure predictability, deepen liquidity, bring in new instruments, and manage risks effectively. Only then will we be able to attract sustainable foreign capital.”