Business News | Taxpayers Are Respected when Projects Are Completed in Stipulated Time, Says PM Modi

New Delhi [India] June 23 (ANI): Prime Minister Narendra Modi said on Thursday during the inauguration of Vanijya Bhawan that taxpayers are respected when projects are completed within the stipulated period.

He also launched a one-stop portal 'Niryat' for foreign trade needs.

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"When government projects are completed on time, schemes reach the target, they are nothing but giving respect to the country's taxpayers. Under PM Gati Shakti national master plan, we now have a modern platform...Keeping into consideration the aspirations of new India, this building will have to give a push to all aspects of development," Modi said.

Further, he said the benefits of the government schemes reaching all sections of people, without any form of discrimination, can only ensure 'Sabka Vikas' or welfare for all.

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Giving reference to the previous governments, he said that projects were earlier announced for the sake of "political interest" but there were no guarantees about their execution.

"They were not serious about the completion of the projects. This new building (getting completed on time) is an example of how we have changed the mindset," Modi said.

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Further, he reiterated that this government has removed over 32,000 non-essential compliances, which is key to promoting 'Ease of Doing Business' in the country.

Talking about the Gem portal, a short form of one-stop Government e-Market Place, in which 45 lakh small businesses are currently registered, he said order value in the platform has risen from 9,000 crore to now over 2.25 lakh crore.

Counting on the benefits of the ease of doing business in the country, he said there were less than 500 registered FinTech start-ups in the country till 4 years ago, which has now risen to over 2,300.

During the same period, recognized start-ups per year have risen from 8,000 to over 15,000 units.

Moreover, he added that exports are vital to a country's progress and initiatives like 'Vocal for Local' have also accelerated the country's exports, he said. Despite global disruptions last year, India exported a total of $670 billion or Rs 50 lakh crores.

In that context, Modi urged the exporters to not just set a short-term export target but a long-term as well, that too with a proper roadmap to reach the feat, citing that exports play a crucial role for developing nation to become a developed one.

In the last eight years, India has also been continuously increasing its exports, achieving export goals. Better policies to increase exports, ease the process, and take products to new markets have helped a lot, he added. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)