Big Focus Is On MSME Sector As It Generates Crores Of Jobs: PM Modi

Prime Minister Narendra Modi on Tuesday said that the government has a big focus on the MSME sector as it generates crores of jobs.

“The manufacturing ecosystem has transformed in the last 10 years, our big focus is on the MSME sector as it generates crores of jobs,” PM Modi said.

“Today India has 1.40 lakh startups and 8 crore people have started their business with MUDRA loans, PM Modi said at the CII post-budget conference.

Our govt has clear intent and commitment, we are working with full focus on Viksit Bharat, Modi said.

He also said that in his third term, India is to become the third-largest global economy.

PM Modi said that the size of the budget has increased 3 times to Rs 48 lakh crore in 10 years of the NDA government.

He added that the government has taken India to new highs even after battling the pandemic.

“India is growing at 8%, that day is not far when we will become the third largest economy globally,” PM Narendra Modi said.

He added that Capex has grown more than 5 times to over Rs 11.11 lakh crore in 10 years.

As many as 25 crore people lifted out of poverty in the last 10 years, we are focusing on ease of living, skill development, and employment, the PM said.

India is the only country with high growth, and low inflation; it has a 16% share in global growth, he said.

The speed and scale with which the government is building infrastructure is unprecedented, PM Modi highlighted.

Govt has made a record increase in the allocation of ministries in the past 10 years, while tax rates have been reduced to record lows, the Prime Minister said.

PM Modi added, “… During the pandemic, we used to have discussions and the centre point of those discussions used to be ‘getting growth back’. I then said that India will run on the path of development very soon. Today, India is growing at the speed of 8%…”

The journey towards ‘Viksit Bharat’ is not just of the sentiments, but of confidence, PM Modi added.

The PM was addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ at Vigyan Bhawan, organised by the Confederation of Indian Industry (CII)), in the national capital, outlining his government’s larger vision for growth and the role of industries in this endeavour.