PM Modi's trust on industrialists called them wealth creators in CII conference; Congress had targeted Ambani-Adani

Amidst the continuous targeting of some big industrialists by the Congress, Prime Minister Narendra Modi has expressed trust in private industries in building a developed India. Describing industrialists as "wealth creators" at the CII conference, Prime Minister Modi called them the driving force in India's development journey.

PM Modi said that I consider the industry, and also the private sector of India, as a powerful medium to build a developed India. Referring to achieving new heights of development in the last 10 years, he said that this year's budget will open new avenues of progress and create new opportunities.

Addressing the industrialists present at the CII conference, Prime Minister Narendra Modi dismissed the apprehensions that the BJP would not be able to make big decisions due to the lack of an absolute majority. The Prime Minister made it clear that his government has no lack of political will and is working to ensure a comfortable and better life for the citizens of the country.

According to the Prime Minister, the speed and stability with which India is developing amidst the current international uncertainties is an exception in the whole world. He said that when all the countries are struggling with slow development and high inflation, India is the only country with fast development and low inflation.

Comparing the performance of the economy during the 10 years of the UPA government with his 10 years, the Prime Minister said that the last budget of the UPA government in 2013-14 was Rs 16 lakh crore, which has increased three times to Rs 48 lakh crore today. Similarly, during the UPA government, the capital expenditure increased from Rs 90 thousand crore in 2004 to Rs 2 lakh crore in 2014. Capital expenditure has increased more than five times in the last 10 years and has reached more than 11 lakh crores.

PM Modi said that the budget for railways and highways has increased eight times, the budget for agriculture has increased four times and the budget for defense has increased more than double compared to the 10 years of the UPA government. Prime Minister Modi called the increase in the budget important, citing the reduction in taxes in the last 10 years.

Prime Minister Modi said that budget discussions often get limited to a few major issues, but this time such provisions have been made in the budget, which will open new paths of progress. The PM referred to increasing the allocation for nuclear power generation, creation of digital public infrastructure in the agriculture sector, giving land-Aadhar cards to farmers to give land numbers, and arrangement of venture capital of Rs 1000 crore for the space sector.

Along with the announcement of the Critical Mineral Mission in the budget, PM has also announced to start the auction of the first phase of off-shore mining soon.