New Delhi: True reforms are those which result in transformation in the lives of citizens, noted Prime Minister Narendra Modi at The Economic Times Global Business Summit here on Friday.
“We have to improve the use of our natural and human resources to increase the value addition we can get from them. We should create new opportunities for citizens to progress and also give them a choice of opportunities, which is like oxygen to aspiring citizen, and we are keen that this is never in short supply,” he said.
“If a government is progressive, and runs an honest and efficient administration, the biggest beneficiaries are the poor. Poor governance hurts the poor more than it hurts others,” said Prime Minister Modi.
Stating that India’s policies must be such that they make a positive contribution to the rest of the world, the Prime Minister pointed out that for the last four quarters, India has been the fastest growing large economy in the world.
“At a time when global FDI has fallen, FDI in India has increased by 39 percent in the last 18 months,” he said.
Raising concern over climate change, and stressing on the need for protecting the planet as one of the most important tasks, he said, “We are committed to reducing the emission intensity of our GDP by 33% by 2030 even while growing at a fast pace.”
Since this Government took office, growth increased and inflation decreased; foreign investment has increased and fiscal deficit decreased, said the Prime Minister.
“India’s highest ever urea fertiliser production was achieved in 2015. India’s highest ever production of ethanol as blended fuel, benefiting sugar cane farmers, was in 2015; the highest number of new cooking gas connections to the rural poor was achieved in 2015; India’s highest ever output of coal was achieved in 2015; and Shipping Corporation of India that made a loss of Rs. 275 crores in 2013-14, made a profit of Rs. 201 crores in 2014-15,” the Prime Minister noted.