Raigad
(Maharashtra): Prime Minister Narendra Modi on Saturday articulated that
demonetisation is only short term pain for long term gain, adding that the
present regime would not shy away from taking difficult decisions that are in
the interest of the country.
"Demonetisation
is only short term pain for a long term gain. We will continue with sound
economic policies to ensure India’s bright future in the long run," he
said.
Speaking
at the inaugural function the National Institute of Securities Markets (NISM) in
Raigad, Prime Minister Modi said that India is being seen as bright spot and to
see how far India has travelled one should look back to 2012-13 when the
currency was falling sharply.
"India
has earned a good name for its well regulated securities markets," Prime
Minister Modi said.
The
Prime Minister Modi also expressed the view that public investment has increased
in the last three years and progress has been made in ease of doing
business.
"Constitutional
amendments on GST that remained pending for years has been passed and the long
awaited GST will soon be a reality," he said.
"For
financial markets to function successfully, participants need to be well
informed," he added.
Prime
Minister Modi further said that those who profit from financial markets must
make a fair contribution to nation-building through taxes.
Highlighting
the progress made by the Indian economy the Prime Minister said, " SEBI should
work for closer linkage between spot markets like e-NAM and derivatives markets
to benefit farmers. The country has made progress and improved the ease of doing
business as foreign direct investment(FDI) has now reached record levels."
The
Prime Minister asked stock markets to raise capital in innovative ways for
projects in agriculture.
"Government
is very keen to encourage start-ups as stock markets are essential for the
start-up ecosystem," he added.
Earlier,
Prime Minister Modi arrived in Raigad to inaugurate the new campus of the
National Institute of Securities Markets in Panvel.
During
his one-day-visit to the state, the Prime Minister will also lay the foundation
stone for the grand memorial of Maratha warrior king Chhatrapati Shivaji Maharaj
on an island in the Arabian Sea off Mumbai and a metro project in Pune.
ANI
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