Speed Post News Network
New Delhi : Prime Minister narendra Modi delivered the inaugural address at the 125th Annual Session of Confederation of Indian Industries (CII) through video conference on June 2, 2020. The theme of this year’s annual conference is “Building India for a New World : Lives, livelihood, growth.”
Speaking on the occasion, PM Modi said such online events are becoming the new normal due to Corona. This is also the biggest strength of human beings that makes a way out of every difficulty, he added. He said, “On the one hand, we have to take strict steps to fight this Virus and save the lives of the countrymen, and on the other hand we have to stabilise the economy and speed it up.”
Referring to the theme of this year’s annual session, the Prime Minister praised the Indian industry for starting the discussion of “Getting Growth Back”. He urged the industry to go beyond it and said “Yes! We will definitely get our growth back.” He said that his trust in India’s Capabilities and Crisis Management, in India’s Talent and Technology, in its Innovation and Intellect of India, in the Farmers of India, MSME’s, Entrepreneurs makes him confident about getting the growth back, according to a PIB release.
The PM said Corona may have slowed down the speed of the growth, but today the biggest fact is that India has overtaken the lockdown phase and entered in the Un-Lock Phase one. A large part of Economy has opened in Un-Lock Phase one. A lot is going to open after June 8, 2020. Getting Growth Back has started, he added.
The Prime Minister emphasised that when Coronavirus was spreading in the world, India took the right steps at the right time. He said, “Today we get to know how widespread the effect of lockdown in India is, by comparing it with other countries.” He said, “Re-strengthening Economy against Corona is one of our highest priorities.”
The Prime Minister listed the steps taken by the Government in helping people during this crisis situation. Pradhan Mantri Garib Kalyan Yojana has helped a lot in providing immediate benefits to the poor. Ration has been delivered to about 74 crore beneficiaries under this scheme. Free ration is also being provided to migrant workers. During the lockdown, the government has delivered more than 8 crore gas cylinders to the poor – that too free. Fifty lakh private employees have got the Government contribution of 24% of EPF amount in their bank accounts, which amounts to Rs.800 Crore.
He listed 5 things which are very important to build a Aatmanirbhar Bharat and to bring India back on the path of rapid development, viz. Intent, Inclusion, Investment, Infrastructure and Innovation. These are reflected in the bold decisions taken by the Government recently, he added.
The PM said,“For us reforms are not any random or scattered decisions. For us reforms are systemic, planned, integrated, inter-connected and futuristic processes.” He listed out the initiatives of the Government to make an encouraging ecosystem for the private enterprises like Insolvency and Bankruptcy Code (IBC), Bank merger, GST and Faceless IT assessment.
The PM said that labour reforms are being done to increase employment opportunities, keeping the welfare of our workers in mind. Non-strategic sectors in which the private sectors were not allowed, have also been opened. Commercial mining is now allowed in the coal sector, he added.
The PM said the Micro, Small and Medium Enterprises (MSME) sector is like an economic engine of our country and contributes around 30% of the GDP. He said that a long time demand of the industry to update the definition of MSMEs has been fulfilled. Global tenders have been scrapped in government procurement of up to Rs 200 crore to benefit crores of associates working in MSMEs of the country, he added.
The Prime Minister stressed the need to invest for the creation of a Robust Local Supply Chain that strengthens India’s stake in the Global Supply Chain.