Prime Minister Narendra Modi today said that the government is working with the vision of a self-reliant India and has accelerated the pace of reforms. He said the country has consistently demonstrated its commitment to reforms, financial discipline, transparency, and inclusive growth over the past 10 years. Talking about the importance of MSMEs in the economy, Mr Modi said MSMEs play a transformative role in the economic growth of a country. Mr. Modi was addressing post-budget webinars held on MSME as an Engine of Growth; Manufacturing, Exports and Nuclear Energy Missions; Regulatory, Investment and Ease of doing business Reforms. The Prime Minister pointed out that stable policy and a good business environment are pivotal for development.
Highlighting the various measures taken to facilitate ease of doing business in the country, Mr Modi said the government implemented the Jan Vishwas Act and introduced the concept of simplified income tax by reducing compliances. He added that the government is working on the Jan Vishwas 2.0 Bill. He said important steps have been taken to promote manufacturing and exports in the Budget. The Prime Minister also said that consistency and the assurance of reforms have brought new confidence to the industry. He noted that the government’s efforts have reduced the impact of COVID on the economy, which has helped India become a fast-growing economy. He said countries across the world want to strengthen their economic partnership with India.
He urged the industry leaders not to be mere spectators, but to seek opportunities in the global supply chain. He said the focus must be laid on manufacturing innovative products that have global demand to push exports. He observed that the production-linked incentive scheme has led to an investment of over one lakh 50 thousand crore rupees with the production of over 13 lakh crore rupees.
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