Formalizing Industrial sectors, Modi-led govt launches reforms to make India a five trillion dollar economy

New Delhi, December 20: "We have brought number of reforms to lay a strong foundation to make India a five trillion dollar economy", affirmed PM Narendra Modi while addressing the annual conference of industry body Assocham in New Delhi today. "In the last five years, the country has strengthened itself so much that such goals can be set and achieved", he said urging entire country to come together and fulfill their duties to achieve the target.

 

 

The Prime Minister said, five years ago, the Indian economy was running towards destruction and his Government has changed that and brought discipline and positivity. He said that the Modi-led government is not afraid of any challenges. "India has now a government which listens to farmers, labourers and corporate world", he added.

 

"It is due to the steps taken by the NDA government, now 13 banks have returned to profit. Banks are now expanding their nationwide network and are moving towards establishing their global reach", Modi affirmed assuring people associated with banking and corporate sector that the old weaknesses had been ironed out and they should take decisions bravely, invest openly and spend well.

Modi-led government is striving to formalise and modernise the economy. It is working dedicatedly to end inverted duty and in the last few budgets, it has been considered. "Due to this, the cost of manufacturing in India is gradually reducing. Now a company gets registered in just a few hours and not weeks", he added.

 

The Prime Minister said, to bring transparency, efficiency and accountability in the tax system, government is heading towards faceless tax administration. Congratulating the Industry body, Modi said, the theme that ASSOCHAM have set for the centenary celebrations is associated with the goals and dreams of the country and countrymen.