Prime Minister Narendra Modi (File photo)
NEW DELHI: Prime Minister Narendra Modi on Tuesday shared his vision on ‘Getting Growth Back’ with India Inc during an address at the annual session of industry body CII (Confederation of Indian Industry).
The address comes at a time when companies are resuming operations following relaxations and gradual easing of the nationwide lockdown, which was imposed on March 25 to curb spreading of coronavirus infections.
Here are key things to know about PM Modi‘s address amid the ongoing Covid-19 crisis:
* We’ve to take tough steps to fight coronavirus and also take steps to take care of economy: PM Modi at CII’s annual session
* Yes, we will definitely get our growth back, PM Modi said and expressed his believe that the industry leaders will help in getting the economic growth back on track.
* Intent, inclusion, investment, infrastructure and innovation needed to bring economic growth back: PM Modi
* For private enterprises, we’ve been always encouraging to build a better ecosystem: PM Modi
* Reforms are not random or scattered decisions, they are systemic, planned, integrated, inter-connected and futuristic process: PM Modi
* In around Rs 200 crore of purchases done by the government, global tenders have been removed to boost small-scale industries: PM Modi
* World is looking for a trusted, reliable partner and the Indian industry should make the most of it: PM Modi
* PM Modi termed the current situation as “rise to the occassion” and asked the industry leaders to come out as “champions of indigenous inspiration”.
* PM Modi also pitched for ‘Made in India’ and ‘Made for the world’ products to reduce the country’s import.
* I request you (industry leaders) to come up with detailed study on every sector. We will together hold discussions to make better reforms for building a better future: PM Modi
* The Prime Minister delivered the inaugural address at the annual session of the CII to mark 125 years since its inception in 1895. PM Modi also congratulated the institution for making timely changes for the better functioning.
* Earlier on Saturday, the home ministry had stated that ‘Unlock-1’ will be initiated in the country from June 8 under which the nationwide lockdown effectuated on March 25 will be relaxed to a great extent, including opening of shopping malls, restaurants and religious places. However, strict restrictions will remain in place till June 30 in the containment zones.
* Various rating agencies and economists have projected a sharp fall in GDP growth for India this fiscal due to the Covid-19 crisis and the subsequent lockdown.
* The government has so far unveiled an over Rs 20 lakh crore stimulus package to save the lockdown-battered economy, which focuses on tax breaks for small businesses as well as incentives for domestic manufacturing and other segments.
(With PTI inputs)