‘I am busy for 100 days, but on the next day of oath…’, PM Modi told RBI the plan for the next term
Today has completed 90 years of the formation of the Reserve Bank of India (RBI). On this occasion, a special program was organized in Mumbai, in which Prime Minister Narendra Modi also participated. PM Modi once again gave the slogan of ‘Developed India’ and said that the Reserve Bank of India is going to play an important role in taking the country to this point.
PM Modi said in his address that RBI has played an important role in bringing India’s banking system and economy back on track in the last 10 years. However, he said that whatever work has been done so far in improving the banking system and economy is only a trailer, the entire film is yet to be made.
How the face of the banking system changed
PM Modi said that when he participated in the 80th Foundation Day of RBI in 2014, the situation was completely different at that time. The banking sector was surrounded by challenges. Be it NPA, or lack of stability of the system. Due to which people were worried about the future of the banking sector. Due to poor banking system, the economy was also not getting support. Due to which the country was facing double blow. But the situation has changed in the last 10 years and this has been done jointly by RBI and the government.
PM Modi said, ‘Many countries are still in trouble due to the Corona crisis, while India is now continuously making new records. RBI can now take it to a new height. RBI can play the role of global leadership. I am saying this from 10 years of experience.’ India will work as an engine for the global economy. There are many sectors in India, RBI should explore the possibility of growth in them.
Strength of global leadership in RBI
He said that at present the corporate debt in many countries in the world has become more than the economy of that country. Due to which it impacts other countries also. The central bank will have to think about this also.
He said that the target is fixed for the next 10 years, how to fulfill the needs of corporates and street vendors, Reserve Bank is a very good institution for this, everyone will contribute in making a developed India, and how to include every section in it. , its work can be done by RBI at best.
RBI has done an excellent job in reducing and controlling inflation. Despite the Corona crisis and global challenges, the inflation rate remained within a range. We thought about our financial risk during Corona and also thought about the common man.
How to help new sectors
Many new sectors have been formed in the last 10 years. Green energy sector, solar sector. Due to which people are getting employment, work has been done on indigenous 5G, they are coming into the role of exporter in defence. But new sectors need loans. RBI needs to think ‘out of the box’ on how to help this. The way we have given benefits to the MSME sector during Corona.
Ayodhya mentioned in PM Modi’s speech
To ensure that the new sectors being formed in the country get adequate credibility, a provision of Rs 1 lakh crore has been made in the budget for innovation. We have to identify such people, because experts will be needed in every sector. There is also a need to provide credit to the space sector. Tourism sector is growing in the country, the whole world wants to come to India, Ayodhya is going to become the world’s largest religious capital in the coming years. We should think about it now. You people should think about how to support him.
PM Modi finally said, ‘Right now I am busy in elections for 100 days. You guys make preparations in the meantime. India’s self-reliance has to be increased in the next 10 years. There is also a need to work on how global fluctuations have less impact on the Indian economy, and how to help new sectors. You should keep it in mind, because from the second day of taking the oath, all the fuss is going to start happening.
