Mumbai: PM Narendra Modi on Saturday inaugurated a new campus of Sebi-run National Institute of Securities Markets (NISM) at Patalganga in neighbouring Raigad district near Mumbai, and said that he will not shy away from taking difficult decisions if they are in country’s interest.
Addressing a gathering, Modi said that the demonetization is a short-term pain, but it will benefit in long-term.
Highlights of his speech:
In less than 3 years, government has transformed economy, cut fiscal deficit, CAD; foreign exchange reserves have grown, inflation is lower.
- Long awaited GST will soon be a reality; FDI is at record levels.
- Financial markets can play an important role in the modern economy. However history has shown that financial markets can also do damage if not properly regulated.
- Government will continue to follow sound and prudent economic policies. We will not take decisions for short-term political point scoring.
- Will not shy away from taking difficult decisions if they are in country’s interest.
- Stock markets need to raise capital in innovative ways for projects in agriculture.
- We have a long way to go, our stock markets needs to raise capital in innovative ways for agricultural sector.
- The true measure of success is the impact in villages, not the impact in Dalal Street or Lutyens’ Delhi.