Through MUDRA bank small traders and businessmen are being funded: PM Modi
Updated: Nov 24, 2015 04:38:52pm
New Delhi, Nov 11 (KNN) Wooing the foreign investors to invest in India, Prime Minister Narendra Modi apprised them about the Mudra Bank saying that through the new bank, small traders and businessmen are being funded.
Pointing that one of the key strategies of his government is to make money reach marginalized, he said, “With this objective, we opened 190 million new bank accounts. Through them, we are trying to ensure direct transfer of benefits to the poor. This targeting is also bringing discipline in Government expenditure. We have also launched new insurance and pension schemes.
Through a new Bank, called MUDRA, we are funding the small traders and businessmen. We have set time bound goals for providing access to housing, water, electricity and sanitation for all. Thus, India is now the next frontier of economic revolution. Our changing paradigm has created new opportunities for global investor community,” he said.
He told the global investors that the opportunities range from building 50 million affordable houses to setting up 100 smart cities; modernization of railway network and re-development of railway stations to setting up new railway corridors; generation of 175 GW of renewable energy to transmission and distribution networks. Construction of National Highways, bridges and Metro rail networks.
He said the campaigns like Digital India and Skill India are designed to prepare the people to take part in this process.
“We have witnessed massive growth in the number of start-ups in the recent past. Some of these have begun to challenge established global players. To tap this energy fully, we have recently launched the Start-up India Campaign. Start-up India, Stand up India,” he said.
However, there were a number of regulatory and taxation issues which were adversely impacting on their sentiments. “We have taken very decisive steps to remove many of long the pending concerns”,” he said.
Stating that Singapore is also an important and valuable friend of India in the global outlook, he said, “We regard Singapore as an essential ally in the implementation of our Look and Act East Policy.” (KNN Bureau)
Pointing that one of the key strategies of his government is to make money reach marginalized, he said, “With this objective, we opened 190 million new bank accounts. Through them, we are trying to ensure direct transfer of benefits to the poor. This targeting is also bringing discipline in Government expenditure. We have also launched new insurance and pension schemes.
Through a new Bank, called MUDRA, we are funding the small traders and businessmen. We have set time bound goals for providing access to housing, water, electricity and sanitation for all. Thus, India is now the next frontier of economic revolution. Our changing paradigm has created new opportunities for global investor community,” he said.
He told the global investors that the opportunities range from building 50 million affordable houses to setting up 100 smart cities; modernization of railway network and re-development of railway stations to setting up new railway corridors; generation of 175 GW of renewable energy to transmission and distribution networks. Construction of National Highways, bridges and Metro rail networks.
He said the campaigns like Digital India and Skill India are designed to prepare the people to take part in this process.
“We have witnessed massive growth in the number of start-ups in the recent past. Some of these have begun to challenge established global players. To tap this energy fully, we have recently launched the Start-up India Campaign. Start-up India, Stand up India,” he said.
However, there were a number of regulatory and taxation issues which were adversely impacting on their sentiments. “We have taken very decisive steps to remove many of long the pending concerns”,” he said.
Stating that Singapore is also an important and valuable friend of India in the global outlook, he said, “We regard Singapore as an essential ally in the implementation of our Look and Act East Policy.” (KNN Bureau)
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