Prime Minister Narendra Modi on Tuesday said that as India is headed to become the third largest economy soon, he was confident that the country will emerge as a global player in the sunrise sectors such as semiconductors, electronics manufacturing and green energy.
Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ at the Vigyan Bhavan here, PM Modi said new opportunities are emerging in sunrise sectors and India Inc. must capitalise on them.
"The whole world is looking at India today. India's policies and ethics and aims and investment is the basis for progress for the whole world,” the Prime Minister remarked.
PM Modi said that despite global headwinds, India is the only 'high growth, low inflation' country in the world in contrast to the “low growth, high inflation” other countries. India's fiscal prudence is a role model for the world," he added.
"The world today wants to invest in India, and world leaders are positive about India. This is a golden chance for Indian industry and we must not lose this opportunity," he told the captains of Indian industry.
“I sincerely believe that industry will help make India a global player in sunrise sectors. A confident India will become a global player,” the Prime Minister said.
“The wealth creators are the driving force for India's growth story,” he remarked.
Prime Minister Modi pointed out that the last Budget presented by the Manmohan Singh government in 2014 was only Rs 16 lakh crore. Ten years later, the Union Budget 2024 presented by us a few days ago is Rs 48 lakh crore, which is three times the amount.
The Prime Minister said that Budget 2024-25 would strengthen the momentum towards achieving Viksit Bharat.
He pointed out that the Budget would give further impetus to the manufacturing sector with schemes such as the industrial parks being created in 100 big cities with plug-and-play facilities for setting up industries. These parks will emerge as the industrial hubs nationwide powering the country to Viksit Barat.
He also pointed out that MSMEs, which are large creators of jobs, would get a big boost from the budget which had made it easier for them to get working capital and credit loans. Taxes for these small units had also been reduced, he added.
He also said that the country was embarking on a green energy roadmap which includes green hydrogen projects, electric vehicles and nuclear energy. Industry will benefit from our steps on small nuclear reactors, he added.
The Prime Minister said that the government was according high priority to critical minerals and very soon the first phase of bidding for offshore mining blocks would start.
He also said that the PM’s package in the budget was a holistic and comprehensive strategy that would benefit more than 4 crore youth in the country and create a skilled workforce that will be in demand both in India and abroad.
"The budget is focused on skill development, employment keeping in mind industry 4.0," the PM said.
He highlighted the incentives being offered to the industry under the internship scheme as he urged India Inc. to march shoulder to shoulder with the government towards achieving the goal of Viksit Bharat.
EAM Jaishankar calls on Singapore President, discusses bilateral cooperation in semiconductors, industrial parks and skilling
External Affairs Minister (EAM) S. Jaishankar called on visiting Singapore President Tharman Shanmugaratnam in New Delhi on Wednesday, holding discussions with the foreign dignitary on bilateral cooperation in several areas ahead of his scheduled meetings with President Droupadi Murmu and Prime Minister Narendra Modi on Thursday.
GRAP IV restrictions reimposed in Delhi-NCR as pollution levels surge
The CAQM had, on January 12, revoked Stage-3 restrictions after the AQI in Delhi improved due to rainfall. Stage-IV restrictions include a ban on all construction activities, the entry of non-essential polluting trucks into Delhi, and the mandatory shift of school classes, except for classes 10 and 12, to hybrid mode.
Govt contemplating to curb dependency on import of fish from outside: Minister Sudhangshu Das in Assembly
The state fishery minister Sudhangshu Das on Wednesday informed the assembly that the government is contemplating to increase local fish production and curb the dependency on imports from outside and neighbouring Bangladesh.
Major hike of salaries for Ministers, MLAs as bill passed in Tripura assembly
The bill proposes that the chief minister will now receive a monthly salary of Rs 97,000 with Rs 13,000 as sumptuary allowance while ministers and the Leader of the Opposition will get Rs 95,000 with an allowance of Rs 12,000 per month. The MLAs too will now draw Rs 93,000 as salary with Rs 12,000 as allowance.
'Govt working with dedication, spirit of service': PM Modi says during ISKCON Temple inauguration in Navi Mumbai
Prime Minister Narendra Modi on Wednesday said that India is a living land with a vibrant culture and the main foundation of "our spiritual culture is the spirit of service", which is the consciousness of this culture.
India's goods and services exports clock 6pc growth to scale $602bn mark in April-Dec
India's total exports of merchandise and services have clocked a 6.03 per cent growth to $602.64 billion during April-December of the current financial year from $568.36 billion in the same period of the previous financial year, the Commerce and Industry Ministry announced on Wednesday.
SC issues notice on Congress plea challenging amendments to Conduct of Election Rules
The Supreme Court on Wednesday agreed to examine a plea filed by senior Congress leader Jairam Ramesh challenging the amendment to the Conduct of Election Rules, 1961, which restricts public access to election materials, such as CCTV footage unless explicitly listed by the Election Commission of India (ECI).
Drugs worth Rs 9 crore seized in Assam, two peddlers from Manipur arrested
The Special Task Force (STF) of Assam Police on Tuesday seized over 1.128 kg of heroin worth Rs nine crore and arrested two drug peddlers from Manipur, officials said.