Need Of The Hour Is To Grow At 9-10% In Next 30 Years To Eradicate Poverty: Pankaj Patel, FICCI President
.png)
“It’s a positive affirmation that the all-round multi-sector reform agenda of the government is yielding results now. The credit rating agency, Moody’s also praised the government’s efforts, to broaden the tax base, and tackle the non-performing loans and said that this will provide stability and enhance India’s high growth potential”, said Pankaj Patel, President of FICCI, praising the government’s policies and efforts in the recent years. “They just also praised the demonetization policy for helping reduce corruption, increase the size of the formal economy and improve tax collection. This is a recognition of India’s macroeconomic reforms. 2017 has been a historic year with GST finally coming into force. Not just this, the steps taken to help the business adjust the user-feedback system, helping resolve bottlenecks, relaxing deadlines for filing returns, cutting tax rates, are all indicative of government’s commitment to involve all stakeholders in its development agenda”, added Patel.
Patel also added, “’Sab ka saath, sab ka vikaas’ is not just a slogan, but it is actually being practiced here.” Speaking to PM Modi, Patel said, “Sir, you had earlier given the slogan of India First and it is indeed the passion and spirit with which we need to work. It speaks volumes about the commitment that the government has shown for furthering the growth and the development of the nation. FICCI stands united in this goal for nation’s progress”. “There have been several milestones in the past 3 years in the Indian economy that have put us on the front path to progress. There is a fiscal deficit target which has been taken up very seriously, there’s a ranking improvement in ease of doing business. We are on the top 100 and moving forward. FDIs have been historically high. Use of digital technology in governance is another factor which is ultimately going to make a huge difference going forward”, added Patel.
“The banking sector reforms and the reforms with the bad loans are also worth praising. The youth of India have a new spring in their step, with the initiative of Start-up India, Stand up India. We expect growth to cross 7% soon but the need of the hour is to grow at 9-10% the next 30 years. This is imperative if we have to bring people out of the poverty line”, said Patel. “FICCI has submitted an analysis of export development to the Ministry of Commerce earlier to develop our exports, and I am sure action is being taken to help grow further. The future is ours, there is optimism in the air. Recently the index of consumer expectation in November 2017 showed a historical upswing. The voice is very clear, unambiguous and devoid of any confusion and the vision is bright. All of us share our enthusiasm as we move towards the reform of the 3 Ls, Land, Labour and Legal”, added Patel.
“Prime Minister, India is ready, lead us to the US $20 trillion inclusive growth global economy. As the world move towards more inward looking economies, there is an upheaval and it will affect the way international trade takes place today. Sir, India under your leadership has been globalizing rapidly. We look forward for your guidance for India to pave a new path within these disruptive changes and emerge victoriously as we have always been. FICCI would be happy to partner with the government to brainstorm and arrive at appropriate solutions for our nation”, said Patel, addressing the Prime Minister who was present. “FICCI as an organization works with our principal stakeholders, whether it be industry members, government, state associations, civil society, academia, social experts, start-ups and technology pioneers. We are focusing on being a member-driven organization and would like to ensure greater accountability to remain relevant. We need to focus on brilliance and eminence in our leadership approach to create accelerated development and growth. FICCI wholeheartedly supports governments vision of 2022 for a new India which would be built on four pillars of development for all, an India free of hunger, illiteracy, communalism and fear of terrorism, an India where individual enterprises can blossom and an India which is leading the farmers of the nation”, added Patel.
“FICCI has built productive partnerships with the Ministry of Human Resources Development, Urban Development, Renewable Energy, Environment, Skill Development, Science and Technology and Sports. We are collaborating with ISRO, ICMR and DRDO to facilitate commercial development of Indian technology. FICCI has formed a taskforce with ISA under FICCI’s chairmanship for coordinated solar innovation. FICCI participated in the Global Entrepreneurship Summit in Hyderabad, and over 120 women entrepreneurs from FICCI participated in that summit”, said Patel, highlighting some of the recent developments of FICCI. “FICCI has launched a new initiative to promote Dalit enterprise in keeping with Mahatma Gandhi’s vision. FICCI will continue to lead the way as a voice of policy change, will continue to support our vision of rapid, inclusive and sustainable growth that encompasses health, education, livelihood, governance and skill development. In this vision to create a new India, FICCI assures you of full faith and strength”.
This was followed by an enthralling speech by Prime Minister Narendra Modi, where he talked about the highlights of the achievements by his government, the various schemes of the government in alleviating poverty, benefits of the GST regime, the boost to start-ups given by the government, and even the recent decision to change the policy around the classification of bamboos.
“In the Global Innovation Index, India has jumped 21 ranks. There has been a 70% increase in FDI. 75% per cent of the total foreign funds in the construction sector in the last three years. Passenger vehicle growth in November was more than 14%. Commercial vehicle growth saw 50%. Three-wheeler growth was 80% and two-wheeler growth more than 23%. The government is also working towards giving each poor person a house of their own by 2022. There is a lot of work being done in laying gas pipelines. This is helping the city gas distribution systems. I would like to congratulate the FICCI for its 90 years of operation. Ninety years ago, along with normal duties and responsibilities, national duties and responsibilities were carried out and we are doing so now.'', said Prime Minister Modi.
_20240920205457_original_image_22.webp)
