Innovating financing of initiatives would help achieve the goal
During the inaugural plenary session of the post-budget webinar on Tuesday, PM Modi said that environment friendly projects need to speed up to achieve the target of net-zero carbon emission by 2070.
According to a report by ANI, the session was based on financing for growth and inspirational economy. PM Modi emphasized on startups and said that encouraging entrepreneurship would stress on innovation, which would in turn, help in achieving the target.
“The financial sector needs to look at new futuristic ideas with innovative financing of initiatives and sustainable risk management”, he said.
Discussing the MSME (Micro, Small and Medium Enterprises) sector, he said that since India’s aspirations are linked to the strength of the MSME, the government has launched several fundamental reforms and schemes to strengthen the sector, further.
However, the success of these reforms would depend on addressing the issues related to financing of the ideas, such as those related to organic and natural farming.
He further said that since the country is running a self reliance campaign, the dependence on other countries should be reduced. Hence, it is crucial to think about the various models of financing the projects.
“In the Budget, the government has taken various steps to promote financial growth by encouraging foreign capital flows, and reducing tax on infrastructure investment”, said PM Modi.