PM Modi: Need To Strike A Balance Between Saving Lives, Reviving Economy

Prime Minister Narendra Modi told industry leaders that a balance has to be struck between human lives and keeping the economy on track. PM Modi in a video-address to the Confederation of Indian Industry (CII) on the completion of 125 years of an eventful journey complimented them and remarked that such online events have become the new normal.

PM Modi hailed the contribution of Indian industry in meeting the challenges of the time and in striving to "get back our growth." He said that he had immense confidence in the crisis management, technology and talent of Indians as also their intellect. Similarly, he had great faith in farmers, MSMEs and entrepreneurs apart from industry leaders, PM Modi said. This is the reason why he believed that India would get its growth back.

PM Modi pointed out that India had entered the first stage of unlock India in which the country's economy had opened up. Other activities would soon resume, he said and added that this points to the determination of getting our economic growth back.

PM Modi observed that India had taken the right steps at the right time and this becomes obvious when India compares its situation with other countries.

The Prime Minister laid emphasis on Atma Nirbhar Bharat or self-reliant India. PM Modi said that the highest reality should be to get the economy back on rails. The government is taking all decisions to strengthen the economy.

PM Modi recalled how Pradhan Mantri Garib Kalyan Yojana benefited 74 crore beneficiaries. He also pointed out that migrants and the poor were being provided with financial assistance. These included women, the elderly and the differently abled, among other segments of the poor. More than eight crore gas cylinders reached the kitchens of the poor during this period, the Prime Minister pointed out.

PM Modi observed that the economy as also industry depended on five key principles namely intent, inclusion, investment, infrastructure and innovation. It is because of his government's thrust along these lines that India today is geared up to face challenges in the future, PM Modi pointed out. The government has an interconnected and integrated action plan in place for the future, he said.

PM Modi said that his government believed that reforms meant taking decisions and taking them to their logical conclusion. This could be seen in GST reforms, bank mergers and taking other key decisions at the right time. PM Modi also said that bureaucratic interference had come down hugely when it comes to industry functioning under the current government.

PM Modi said that a favourable ecosystem has been created for the private sector to thrive. Farmers who had been suffering for decades now get their due under the current government, he pointed out. They can sell their produce on their terms today, PM Modi said, without any restriction of movement, he added.