Prime Minister Narendra Modi on Saturday asserted that the Union Government considers the private sector as a very important partner in the journey of developed India.
Prime Minister Narendra Modi (Photo:ANI)
Prime Minister Narendra Modi on Saturday asserted that the Union Government considers the private sector as a very important partner in the journey of developed India.
“In India’s journey towards becoming a Viksit Bharat, our government sees the private sector as a key partner,” Modi said.
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The Prime Minister was speaking at the Global Business Summit 2025 organised by a premier English news channel of the country.
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He said the government has opened many new sectors for the private sector, such as the
space sector.
“Today many youths, many Startups are contributing in the space sector,” the Prime Minister said.
Modi further said the Union government has transformed the fear of business into the ease of doing business.
The Prime Minister said 25 crore Indians have risen out of poverty in just 10 years.
“Our government, focused on addressing the needs of the people, and as a result, 25 crore individuals have come out of poverty. We now have a Neo-middle class in the country,” he said.
The Prime Minister said to further support the middle class, “our government has raised the threshold for zero income tax liability from Rs 7 lakh to Rs 12 lakh.”
“We are providing loans on a large scale, and in addition, our bank profits are also increasing. Ten years ago, editorials on record NPAs would frequently be printed,” he said.
“But now, the headlines have changed to: ‘In the April-December period of the 2024-2025 fiscal year, public sector banks (PSBs) in India reported a net profit of Rs 1.29 lakh crore’,” the Prime Minister said
He said India missed the first three industrial revolutions but is ready to move forward with the world in the fourth.
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