Economic Times Global Business Summit
Broad theme of Global Business Summit 2020– ‘Collaborate to Create: Sustainable Growth in a Fractured World’.
Date: 6th March 2020
PM Modi’s statements include:
- With the MUDRA scheme, more than Rs 11 lakh crores of loans were disbursed to first-time entrepreneurs and youth without a bank guarantee.
- Insolvency and Bankruptcy Code was a step to bail out genuine businesses from the crisis.
- World’s largest health insurance scheme is being implemented by India.
- Six years ago, highway construction speed was 12 km per day, today it is 30 km.
- Six years ago, 600 km rail line was electrified, last year we did 5300 Km.
- Our airports are now handling over 34 crore passengers as against 17 crores six years ago.
- In India, trains getting late was routine. But for the first time, a culture has been brought where passengers are being refunded their money in case the train is late. This is just a start.
- Turnaround time at major ports 6 years ago was around 100 hours. Now it has come down to 60 hours.
- RERA virtually wiped out black money from real estate. IBC opened up new vistas for debt distressed businesses and brought back a lot of the money stuck in them.
- We brought Vivaad se Vishwas to bring in tax reform in India.
- In 2019, the country got nearly $48 billion in foreign direct investment. This growth has been over 16%.
- India attracted $19 billion of private equity investment last year, which was a growth of 53%.
- We are among the top countries which have the lowest corporate tax.
- Our policies are clear, fundamentals are strong. When we came in 2014, we were at number 11 in the global economy, today we are at number 5.
- India is one of the largest contributors to UN Peacekeeping Forces, our troops are protecting people abroad.
- The govt is trying to bring each section out of inaction. Using Direct Benefit Transfer, we changed the status quo. Several crores of money reached the right beneficiaries.
- We changed the status quo with 10 per cent reservation to EWS.