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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.
"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.
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.
"India has earned a
good name for its well regulated securities markets
," 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.
"Constitutional
amendments on GST that remained pending for years
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.
Prime Minister Modi
further said that those who profit from financial
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."
The Prime Minister asked
stock markets to raise capital in innovative 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.
Earlier, Prime Minister
Modi arrived in Raigad to inaugurate the new 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.
ANI
