- Advertisement -
Prime Minister Narendra Modi on Saturday said that his government would not shy away from taking more tough steps to tackle black money, while speaking at the National Institute of Securities Markets (NISM) in Raigad.
Highlights:
- India is being seen as a bright spot. Growth is projected to remain among the highest in the world.
- India’s place as the fastest growing large economy has not come about by accident.
- In 2012-13 fiscal deficit had reached alarming levels. Currency was falling sharply, inflation was high and current account deficit was rising.
- In less than 3 years, this government has transformed the economy.
- Financial markets can play an important role in the modern economy.
- However history has shown that financial markets can also do damage if not properly regulated.
- For financial markets to function successfully, participants need to be well informed.
- India has earned a good name for its well regulated securities markets.
- Government is very keen to encourage start-ups. Stock markets are essential for the start-up ecosystem.
- Our markets should show that they are able to successfully raise capital for projects benefiting the vast majority of our population.
- We won’t shy away from taking tough decisions to tackle black money.
- The true measure of success is the impact in villages, not the impact in Dalal Street or Lutyens’ Delhi.
- SEBI should work for closer linkage between spot markets like e-NAM and derivatives markets to benefit farmers.
- Those who profit from financial markets must make a fair contribution to nation-building through taxes.
- My aim is to make India a developed country in one generation.
- Advertisement -
