Prime Minister Narendra Modi on Tuesday said that it is necessary to accelerate environment-friendly projects and stressed that green financing is the need of hour to meet the target of net-zero carbon emissions by 2070.
Speaking at a post-budget webinar on ‘Financing for growth and aspirational economy’, Modi said that India has set a target of net-zero carbon emissions by the year 2070. To speed up work on this, it is necessary to accelerate environment-friendly projects.
On startups, Modi said that they can grow only when the government encourages entrepreneurship, lay stress on innovation, focus on new business areas.
“The financing sector needs to look at new futuristic ideas, innovative financing of initiatives and sustainable risk management,” he said.
The prime minister added that in the Budget 2022-23, the government has taken many steps to continue the momentum of rapid growth and said that by encouraging foreign capital flows, reducing tax on infra investment, creating institutions like NIIF, Gift City, new DFIs, government has tried to accelerate financial and economic growth.
He also touched upon India’s digital currency plans and said that plans for central bank digital currency reflect our vision.
PM Modi said that there is a need to identify 8-10 sectors where India can be among the top-three and said that it’s essential for financial institutions to support such companies. He also underscored the importance of building digital highways to rural India, tailoring financial inclusion products to suit rural needs.
-with PTI inputs