There is no shortage of political will in the government to fulfil the aspirations of citizens, Prime Minister Narendra Modi assured industry leaders on Tuesday, stressing that he believes wealth creators like them are the chief driving force of India’s growth story and a fit medium for helping the country make the transition to a developed economy.
Speaking at a post-Budget interaction hosted by the Confederation of Indian Industry (CII), Mr. Modi emphasised that total government expenditure has risen three times since the UPA’s last Budget to ₹48 lakh crore, capital expenditure allocations have risen over five times, outlays on railways and highways had risen eightfold, while the agriculture Budget was up four times.
“So there is a record increase in the Budget for every sector, and at the same time, this has been done after bringing about record cuts in taxes… The issue is not just about raising Budget allocations or cutting taxes, but also about good governance,” the Prime Minister said.
He also stressed that India would have been on much higher ground now, had it not been for shocks to the economy over the past decade such as a once in a century pandemic, the wars between various countries, and natural disasters like cyclones, droughts and earthquakes within India.
Noting that past governments’ Budgets had many big announcements to show that all was well with the economy, while those plans were not implemented on the ground, Mr. Modi said the Budgets before 2014 suffered the same condition as a weak person who looks healthy due to a swelling caused by a disease.
“If his clothes start shrinking relative to his earlier size, can we call that person healthy? Can we believe he is strong… even if he looks healthy in appearance, in reality, he remains weak,” he asserted.
“Today, the whole world’s eyes are on India and all of you. Today, India’s policies, its intent, its decisions, and the investments happening in India are becoming the basis of the whole world’s progress. Investors from all over the world are keen to come here. World leaders are full of positivity for India. For India’s industry, this is a great opportunity, a golden chance. We should not lose this chance,” Mr. Modi emphasised.
