New Delhi, February 27: Prime Minister Narendra Modi addressed a post-budget webinar on “Technology, Reforms, and Finance for a Developed India” via video conferencing on Friday. In his speech, he highlighted the strong tradition of holding post-budget webinars over the past few years, which play a crucial role in effectively implementing the budget.
Modi noted that budgets are often evaluated based on various metrics—sometimes through stock market movements or income tax proposals. However, he emphasized that the national budget is not a short-term trading document but a comprehensive policy roadmap. Therefore, its effectiveness should be assessed using solid, long-term standards. Policies that expand infrastructure, ease credit access, promote ease of doing business, enhance governance transparency, and simplify people’s lives provide sustainable strength to the economy.
The Prime Minister clarified that no budget should be viewed in isolation. Nation-building is a continuous process, and each budget represents a step toward the larger goal of creating a ‘Developed India’ by 2047. He urged that every reform, allocation, and change should be seen as part of this long journey, which is why these post-budget webinars are extremely important.
He expressed hope that the webinars would not be limited to exchanging ideas but would evolve into effective brainstorming sessions. Collective discussions among industry, academia, analysts, and policymakers can lead to better implementation of plans and more accurate outcomes.
Modi stated, “A quarter of the 21st century has passed, and India’s development journey is at a critical juncture. Over the past decade, India has shown extraordinary resilience, which is not a coincidence but a result of reforms. The government has simplified processes, improved the ease of doing business, promoted technology-based governance, and strengthened institutions.”
He mentioned that the country is still on the ‘Reform Express.’ To maintain this momentum, there must be a focus not only on policy intent but also on delivery excellence. The impact of reforms should be evaluated based on ground realities, not just announcements. He advocated for the extensive use of AI, blockchain, and data analytics to enhance transparency, speed, and accountability, along with continuous monitoring through grievance redressal systems.
The Prime Minister pointed out that the government has paid special attention to infrastructure over the past decade. India’s development is possible through the construction of solid assets like highways, railways, ports, digital networks, and power systems. He noted that 11 years ago, the budget provision for public capital expenditure was about ₹2 lakh crore, which has now increased to over ₹12 lakh crore.
He stated that such large-scale government investment sends a clear message to the private sector. It is now time for industries and financial institutions to step forward with renewed energy. Greater participation in infrastructure, innovation in financing models, and strong collaboration in emerging sectors are essential. He emphasized strengthening the project approval process and evaluation systems, prioritizing cost-benefit analysis and life cycle costing to prevent delays and waste.
The Prime Minister further mentioned that the government is simplifying the foreign investment framework to make it more investor-friendly. Efforts are being made to make the system more predictable. Steps are being taken to activate the bond market to strengthen long-term finance and simplify the bond buying and selling process.
He remarked that bond market reforms should be viewed as enabling tools for long-term growth. This requires clarity in forecasting, adequate liquidity, new financial instruments, and risk management. He urged the industry and experts to draw lessons from global best practices and provide concrete suggestions.
Modi proposed that a clear ‘Reform Partnership Charter’ should be prepared among the government, industry, financial institutions, and academia. This shared commitment could become a significant document in the journey toward a developed India. He emphasized that the success of any policy depends on its effective implementation, in which all stakeholders play a crucial role.
In conclusion, the Prime Minister appealed to all stakeholders—financial institutions, markets, industries, professionals, and innovators—to fully leverage the new opportunities presented in the budget. He stated that now is not the time for discussion but for rapid and straightforward implementation on the ground. Only through collective participation and cooperation can announcements turn into real achievements, making the dream of a ‘Developed India’ a reality soon.
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