Prime Minister Narendra Modi stated that the country is benefiting from the "Reform Express" due to government simplification of processes, improved ease of doing business, and expansion of technology-led governance. He emphasized that the focus should not only be on policy intent but also on achieving excellent delivery to maintain this momentum. Addressing a post-budget webinar on "Technology, Reforms, and Finance for Viksit Bharat" today via video conferencing, Mr. Modi said that reforms should be evaluated not just by announcements but by their impact on the ground.
He emphasized the need to increase transparency, speed, and accountability through the extensive use of AI, blockchain, and data analytics. The Prime Minister stated that over the past decade, the government has placed a strong emphasis on infrastructure. He said that this decision was made thoughtfully, recognizing that India's development would only occur through the creation of solid assets such as highways, railways, ports, and digital networks.
The Prime Minister said that these assets will generate productivity for many decades to come. He explained that this is precisely why public capital expenditure is continuously increasing. He highlighted that 11 years ago, only two lakh crore rupees were allocated in the budget, but in the latest union budget, it has crossed 12 lakh crore rupees.
The Prime Minister said that the budget is often evaluated based on different parameters. Sometimes, the discussion revolves around stock market movements, while at other times, it focuses mainly on income tax proposals. Mr. Modi said that the truth is that the national budget is not a short-term trading document; it is a policy roadmap. He said, therefore, the effectiveness of the budget should also be assessed on solid and substantive parameters.
Mr. Modi said that the webinar shouldn't be limited to just a platform for exchanging ideas, but it should also be a brainstorming exercise. He said that when industry, academia, analysts, and policymakers think together, the implementation of schemes becomes better and delivers accurate results.
