New Delhi, Feb 27 (PTI) Prime Minister Narendra Modi on Friday urged industry to step up investment and innovation and called on financial institutions to offer practical solutions to strengthen market confidence and support growth.
Addressing a post-Budget webinar on “Technology, Reforms and Finance for Viksit Bharat”, Modi said when the government, industry and knowledge partners work together, “reforms translate into results” and “announcements on paper turn into achievements on the ground”.
Highlighting the government’s focus on infrastructure over the past decade, he said public capital expenditure has risen from about Rs 2 lakh crore 11 years ago to over Rs 12 lakh crore in the Union Budget 2026-27.
The high capex allocation, he said, is a signal to the private sector to come forward with renewed vigour and take advantage of the announcements made in the 2026-27 Budget.
“India Inc should come forward with fresh investment and innovation; financial institutions should help design practical solutions and improve market confidence,” the prime minister said.
Modi said India has shown strong resilience in the past decade, attributing it to conviction-driven reforms. He said the government has also simplified processes and improved ease of doing business.
He suggested developing a “Reform Partnership Charter” to institutionalise collaboration among the government, industry, financial institutions and academia, calling it an important step towards achieving the goal of Viksit Bharat by 2047.
Observing that the Union Budget is often evaluated on different parameters, Modi said the national Budget is not a “short-term trading document” but a policy roadmap, and its effectiveness should be assessed on “solid and substantive parameters”. PTI