Raigad (Maharashtra): Prime Minister Narendra Modi on Saturday
articulated that demonetisation is only short term pain for long
term gain, adding that the present regime would not shy away from
taking difficult decisions that are in the interest of the country.
articulated that demonetisation is only short term pain for long
term gain, adding that the present regime would not shy away from
taking difficult decisions that are in the interest of the country.
"Demonetisation is only short term pain for a long term gain.
We will continue with sound economic policies to ensure India’s
bright future in the long run," he said.
We will continue with sound economic policies to ensure India’s
bright future in the long run," he said.
Speaking at the inaugural function the National Institute of Securities
Markets (NISM) in Raigad, Prime Minister Modi said that India is
being seen as bright spot and to see how far India has travelled
one should look back to 2012-13 when the currency was falling sharply.
Markets (NISM) in Raigad, Prime Minister Modi said that India is
being seen as bright spot and to see how far India has travelled
one should look back to 2012-13 when the currency was falling sharply.
"India has earned a good name for its well regulated securities markets,
" Prime Minister Modi said.
" Prime Minister Modi said.
The Prime Minister Modi also expressed the view that public investment
has increased in the last three years and progress has been made in ease
of doing business.
has increased in the last three years and progress has been made in ease
of doing business.
"Constitutional amendments on GST that remained pending for years
has been passed and the long awaited GST will soon be a reality," he said.
has been passed and the long awaited GST will soon be a reality," he said.
"For financial markets to function successfully, participants need to be
well informed," he added.
well informed," he added.
Prime Minister Modi further said that those who profit from financial
markets must make a fair contribution to nation-building through taxes.
markets must make a fair contribution to nation-building through taxes.
Highlighting the progress made by the Indian economy the Prime
Minister said, " SEBI should work for closer linkage between spot
markets like e-NAM and derivatives markets to benefit farmers.
The country has made progress and improved the ease of doing
business as foreign direct investment(FDI) has now reached record levels."
Minister said, " SEBI should work for closer linkage between spot
markets like e-NAM and derivatives markets to benefit farmers.
The country has made progress and improved the ease of doing
business as foreign direct investment(FDI) has now reached record levels."
The Prime Minister asked stock markets to raise capital in innovative
ways for projects in agriculture.
ways for projects in agriculture.
"Government is very keen to encourage start-ups as stock markets
are essential for the start-up ecosystem," he added.
are essential for the start-up ecosystem," he added.
Earlier, Prime Minister Modi arrived in Raigad to inaugurate the new
campus of the National Institute of Securities Markets in Panvel.
campus of the National Institute of Securities Markets in Panvel.
During his one-day-visit to the state, the Prime Minister will also lay
the foundation stone for the grand memorial of Maratha warrior
king Chhatrapati Shivaji Maharaj on an island in the Arabian Sea
off Mumbai and a metro project in Pune.
the foundation stone for the grand memorial of Maratha warrior
king Chhatrapati Shivaji Maharaj on an island in the Arabian Sea
off Mumbai and a metro project in Pune.
ANI
