Prime Minister Narendra Modi on Tuesday stressed that environment-friendly projects need to be accelerated to achieve the target of net-zero carbon emissions by 2070.
Addressing the inaugural plenary session of the post-budget webinar on 'financing for growth and aspirational economy ', PM Modi said: "Green financing is the need of the hour today."
"India has set a target of net-zero carbon emission by the year 2070. Work for this has already started in the country. To speed up these works, it is necessary to accelerate environment-friendly projects," he added.
Our Startups can grow only when we encourage entrepreneurship, lay stress on innovation, focus on new business areas, he said while adding that the financial sector needs to look at new futuristic ideas with innovative financing of initiatives and sustainable risk management.
Further talking about the Micro, small and medium enterprises (MSMEs), PM Modi said, "India's aspirations today are linked to the strength of our MSMEs. We have done many fundamental reforms and made new schemes to strengthen MSMEs."
He added that the success of these reforms is dependent on addressing the issues concerning the financing of the ideas.
"India's aspirations are related to organic and natural farming. If someone is coming forward to do new work in these areas, then it is necessary to think about how our financial institutions can help," he stated.
He further said that today the country is running a self-reliant India campaign. The dependence of our country on other countries should be minimized, he said, adding that it is necessary to brainstorm about different models of financing the projects.
"In the Budget, the government has taken several steps to continue the momentum of rapid growth. By encouraging foreign capital flows, reducing tax on infrastructure investment, creating institutions like NIIF, Gift City, new DFIs, we have tried to accelerate financial and economic growth," he stated.
Extending his greetings on International Women's Day, he said, "As we hold discussions regarding Budget today, it is a matter of pride that India has a woman finance minister who presented a progressive budget.
( With inputs from ANI )
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