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PM Modi addresses the Annual Session of the (CII)

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New Delhi: Prime Minister Narendra Modi is addressing the annual session of Confederation of Indian Industry (CII) through video conferencing. He is speaking on ‘Getting Growth Back’ as Unlock-1 has been announced. The Centre is now focusing on bringing the economy back on the recovery track by gradually allowing businesses to start operations.  

International rating agency Moody’s on Monday downgraded India’s sovereign rating by a notch to Baa3, the lowest-invetment grade rating, from Baa2 with a negative outlook citing prolonged period of slow glowth that it expects to continue beyond the Covid-19 pandemic. India’s GDP growth in the fourth quarter of FY20 and for the entire financial year fell to an 11-year low of 3.1% and 4.2% respectively. Here are the key highlights of his speech.

  1. PM Modi congratulates CII on its 125th anniversary.
  2. We need to take care of the economy as well as save lives of people from coronavirus. In this situation, CII has prioritises getting growth back, which is commendable, says PM Modi.
  3. I don’t have any doubt on India’s capabilities of crisis management and industry leaders. India will get its growth back, says PM
  4. India has put behind lockdown and has entered unlock phase-1. Most of the economy has opened up and the remaining part will open from June 8.
  5. We have taken decisions that will help India in getting its growth back. 
  6. During lockdown government has given nearly 8 crore free gas cylinders to the poor
  7. Making India self-reliant five things are necessary-intent, innovation, investment, inclusion, infrastructure, says PM Modi
  8. For us, reforms mean having the courage to take decisions
  9. With the change in APMC act farmers can now sell their produce at any state of his choice. Farmers can also trade their produce through electronic trading system. We are also doing labour reforms and opening up sectors for private enterprises
  10. India is the third country in the world which has the biggest coal reserve but still we are importing coal from out side because of our policies. But now we are bringing reforms in the coal sector. we have opening up the sector for private sectors for exploration and mining
  11. Out energy sector will now bring many opportunities for private sector and create jobs for people
  12. MSME sector has a nearly 30% contribution in our GDP. Now we have changed the defination of MSMEs which will help them grow along with maintaining their MSME status
  13. There will be no global tenders in government projects worth up to Rs 200 crore, which will help MSMEs
  14. India has sold medical supplies to more than 150 countries in the times of pandemic, which has increased the world’s trust on India
  15. The government is with you, PM Modi says India Inc


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