modi:   PM Modi asks financial institutions to come out with futuristic ideas to fund emerging economic needs | India News - Times of India

modi: PM Modi asks financial institutions to come out with futuristic ideas to fund emerging economic needs | India News – Times of India

[ad_1]

NEW DELHI: Prime Minister Narendra Modi on Tuesday said that the Indian economy is picking pace, thereby reflecting fundamentals and reforms of the government of India. He was speaking at a post-Budget webinar on ‘Financing for growth and aspirational economy’.
He asked financial institutions to come out with innovative and futuristic financing as well as risk management ideas to fund the emerging needs of the economy.
Stating that implementation of green financing is the ‘need of the hour’ to meet net-zero carbon emissions target by 2070, Modi said financial help should be extended to environment-friendly projects.
“Our financing sector will have to look into new futuristic ideas, initiatives and think of innovative financing and sustainable risk management ideas,” PM Modi said.
PM Modi on Tuesday underscored the importance of building digital highways to rural India, tailoring financial inclusion products to suit rural needs.
He also stressed on the need to identify 8-10 sectors in which India can be among the top three globally and asked the financial institutions to extend credit support. “We have opened drone, space and geospatial sectors. It has opened huge possibilities for our youth. We should work towards taking India among the top three countries in the world in such sectors,” the Prime Minister also said.
Modi also nudged the bureaucrats to come out with ‘actionable solutions’ to implement the 2022-23 Union Budget proposals.
He said the country is investing heavily in health infrastructure and asked banks to look into the possibility of prioritising credit to this sector.
He said that if banks extend funding on a priority basis to exporters, it will make them strong and help in the Atma Nirbhar Bharat programme.
He added that we have to be proactive in making sure that the Union Budget 2022-23 is implemented on time.
(With agency inputs)



[ad_2]

Source link

Leave a Comment

Your email address will not be published.