India Proud Of Success In Fintech Sector: PM

Narendra Modi: India is bound to become the third-largest economy during my third term, and that I will work three times harder, at three times the speed and with three times the scale

PM Narendra Modi: after addressing the Nation on the occasion of 78th Independence Day at Red Fort, in Delhi on August 15, 2024.

FinTech BizNews Service 

Mumbai, August 15, 2024: Numerous financial policies are being continuously developed to advance the nation and the country's trust in these new systems is steadily growing. If there was any country that has swiftly improved its economy amidst the global covid pandemic, it is Bharat. Various under-privileged sections of society like the cattle-rearers, fishermen, street vendors are now connecting with banks and are achieving new heights, and becoming partners in the path to development. “Multiple reforms were implemented to strengthen the banking sector. And today, as a result, our banks have secured their place among the selected strong banks in the world. Strong banking system becomes the greatest strength to meet the needs of the common poor, especially middle-class families. We have successfully doubled the per capita income of individuals. We have made significant strides in setting new records in employment and self-employment. India is proud of its success in the ‘Fintech’ sector. Banks are the biggest support for our MSMEs,” said the Prime Minister Narendra Modi today while addressing the Nation from the ramparts of the Red Fort on the 78th Independence Day on Thursday.

Following are the highlights from his speech delivered to the nation on Thursday.

1. General

• We have only one resolve - Nation First. For us, national interest is paramount.
• Bharat's reputation has enhanced globally, and the world's perception of Bharat has shifted.
• If 140 crore citizens of my country, 140 crores of my family members set out with a resolution, determine a direction and march forward step by step, shoulder to shoulder, no matter how great the challenges, how intense the scarcity or the struggle for resources, we can overcome every challenge and build a prosperous Bharat and achieve the goal of a ‘Viksit Bharat’ by 2047.
• The commitment to live for the country can create a Viksit Bharat.
• Every citizen's dream & resolution is evident in the commitment of Viksit Bharat 2047.
• In today’s India, there is no place for a Mai-Baap culture.
• When the people of this nation possess such broad thinking and grand dreams, when their resolve is reflected in these words, it strengthens a new resolve within us.
• I extend my deep respect to the greats who are protecting the country with full dedication and commitment for national defence and nation building.
• Our patriotic zeal and faith in democracy have become an inspiration for the world.
• We have moved from the stale status-quo mindset to one of growth and reforms.
• Our path of reforms has become a blueprint for growth.
• This is a ‘Golden Era for Bharat’ in terms of opportunities, despite gloomy global conditions.
• We must not let this opportunity slip away. If we seize this moment and move forward with our dreams and resolutions, we will fulfil the nation's aspirations for a 'Swarnim Bharat' (Golden India) and achieve our goal of a developed Bharat by 2047.
• A new and modern system is being established in every field, be it the tourism sector, MSMEs, education, healthcare, transport, agriculture, or the farming sector.
• We aim to advance in line with our country’s unique conditions while adopting the best practices from around the world.
• Every sector requires modernization and innovation, with an emphasis on integrating technology.
• Less government interference in the lives of ordinary citizens is an important part of our vision of Viksit Bharat 2047.
• At least two annual reforms in each of the 3 lakh institutions operating across the country are mandated, then it could result in around 25-30 lakh reforms annually leading to increased confidence of common man.
• Our aim is to accelerate progress in every sector, focusing on three key areas. Firstly, we must create new opportunities across all sectors. Secondly, we should work towards strengthening the supporting infrastructure required for evolving systems. And thirdly, we must prioritize and enhance the basic amenities for our citizens.
• Natural catastrophes are becoming a huge cause of concern for us.
• I express my deepest condolences to all those affected by recent natural disasters and assure that the nation stands with them in this hour of crisis.
• Compassion is central to our approach. We are moving forward with both equality and compassion at the core of our work.
• We are here to serve each of you, every family and every region.
• To pursue the dream of a developed India, from the ramparts of the Red Fort today, I bow my head in gratitude and thank the crores of countrymen for blessing us and choosing us to serve the nation.
• I assure you all that we have to move forward to new heights, with a new zeal.
• We are not amongst those who watch from the sides and revel in the glory of small achievements. 
• We are from a culture of seekers of new knowledge and resilience; the go-getters who relentlessly aspire for higher achievements.
• We want to scale newer heights of development and we wish to inculcate this habit among our citizens.
• There is a certain section of people who cannot think beyond their own welfare and do not care about the well-being of others. Such individuals, with their distorted mindset, are a concern. The country must avoid these people, who are mired in despair.
• These pessimistic elements are not merely hopeless; they are nurturing a negative mindset that dreams of destruction and seeks to undermine our collective progress. The country needs to recognize this threat.
• I want to assure my fellow citizens that with our good intentions, integrity, and dedication to the nation, we will win over even those who oppose us.
• We will leave no stone unturned in fulfilling our commitments, changing the destiny of 140 crore citizens, securing their future, and realizing the nation's dreams.
• Corruption at all levels has shattered the common man’s faith in the system.
• I want to create an environment of fear for the corrupt, so the tradition of looting the common citizen comes to an end.
• The attempt to sow such seeds in society, the glorification of corruption, and the continuous efforts to increase the acceptance of the corrupt have become a significant challenge for a healthy society and a matter of great concern.
• The Constitution has been instrumental in fortifying Bharat's democracy for the last 75 years. It has safeguarded the rights of our dalits, the oppressed, the exploited and the deprived sections of the society.
• It is crucial for citizens to focus on the duties enshrined in the Constitution as we celebrate 75 years of our Constitution.
• The responsibility of abiding by the duties extends beyond just the citizens to various institutions of the country.
• When we all fulfil our responsibilities collectively, we naturally become guardians of each other’s rights.
• By performing our duties, we inherently protect these rights without needing any additional effort.
• Dynastic politics and casteism are causing significant harm to the democracy of Bharat.
• We must align our aspirations and our efforts to ensure that the 21st century, destined to be the century of Bharat, becomes a ‘Swarnim Bharat’ (Golden India), and make ‘Viksit Bharat’ in this century and advance towards fulfilling those dreams.
• I live for you, I live for your future, I live for the bright future of Mother India.
• Development of modern infrastructure & Ease of Living should be focused to catapult our economic growth and development.
• In the past decade, we have witnessed humongous infrastructure development by providing state of art railways, airport, ports, and robust roadways network to ensure government connectivity.
• I urge all elected representatives, regardless of party or state, to take steps on a mission mode to ensure Ease of Living.
• India is bound to become the third-largest economy during my third term, and that I will work three times harder, at three times the speed and with three times the scale so that the dreams we have for the nation are realized sooner.

Ministry of Defence

• We are becoming self-reliant in the defence sector.
• India has gradually emerged and is establishing itself as an exporter and manufacturer of various Defence Equipment.
• When our armed forces conduct Surgical Strikes, our heart fills with pride and our heads are held high.
• 140 crore Indians today feel proud and confident of episodes of valour of our armed forces. 

Ministry of Agriculture & Farmers' Welfare

• Transformation in the agriculture sector is the crucial need of the hour.
• I am grateful to all the farmers who have chosen the path of natural farming and taken a resolve to serve our Mother Earth.
• Substantial schemes with significant provisions were introduced in this year’s budget to promote and support organic farming.
• We must strengthen the nutrition of the world and also support the small farmers of India.
• India and her farmers have the potential to create a global food basket of organic food.
• Sixty thousand ‘Amrit Sarovars’ (ponds) have been revived and replenished.

Ministry of External Affairs

• G-20 was never held in such a grand manner before.
• Bharat has the capability to organize major international events and possesses unparalleled hospitality.
• External challenges, in particular, are likely to escalate.
• I want to convey to such forces that the development of Bharat does not mean a threat to anyone.
• We are the land of Buddha, and war is not our path. Therefore, the world need not worry.
• I hope that the situation in Bangladesh soon returns to normalcy, especially given our proximity as a neighbouring country.
• The primary concern of our 140 crore citizens is to ensure the safety of Hindus, the minorities in Bangladesh.
• Bharat has always desired that our neighbouring countries pursue a path of contentment and peace.
• Our commitment to peace is deeply rooted in our culture.

Ministry of Communication

• Optical fibre networks have already been installed in two lakhs Panchayats.
• India is already working in mission mode for 6G and we shall surprise the world with our progress.

Department of Space

• Space sector is opening up a new future for us.
• India is seeing a surge in startups in the space sector.
• Today, private satellites and rockets are being launched in our own country.
• The success of Chandrayaan mission has piqued a new atmosphere of interest in science and technology in our schools and colleges.

Ministry of Social Justice and Empowerment

• We chose the path of reforms to bring about change in the lives of the poor, the middle class, the underprivileged, our growing urban population, the dreams and resolutions of the youth & their aspirations.
• When political leadership is determined to bring empowerment and is resolute towards development, then the government machinery also starts enabling and ensuring robust implementations.
• When every citizen starts participating actively towards ensuring empowerment and development, then the outcomes are bound to be valuable for the nation.
• Last mile connectivity has ensured every village and even forest zones get a school, modern hospitals and Arogya mandirs are built in faraway geographies to provide affordable healthcare to the marginalised through Ayushman Bharat schemes.
• When the mantra of saturation is embraced, the true essence of "Sabka Saath, Sabka Vikas" is realized.
• When we lift 25 crore people out of poverty, it reinforces our belief that we have maintained our momentum, and our dreams will soon be fulfilled.
• When my specially-abled brothers and sisters start communicating in the Indian sign language, or benefit from the campaign of inclusive and accessible nation through Sugamya Bharat, s/he feels respected and enjoys dignity as a citizen of the country.
• It is amazing to see our sportspersons come out in flying colors in Paralympics.
• Equitable decisions with high sensitivity towards our ostracized transgender society were undertaken by bringing amendments and introducing new laws for their incursion into the mainstream and ensuring dignity, respect and equality for all.
• We have embarked onto the ‘Trividh Marg’ (three-way route) and are seeing a direct benefit of the spirit of service to all.
• It is our duty to make every effort to include the neglected regions, the marginalized communities, our small farmers, tribal brothers and sisters in the forests, our mothers and sisters, our laborers, and our workers, ensuring they are uplifted and empowered.

Ministry of Education

• 75,000 new seats will be introduced in the medical sector in the next 5 years.
• Through the new education policy, we want to transform the current education system in line with the requirements of the 21st century.
• We will revive the spirit of ancient Nalanda University, positioning India as a global education hub by promoting higher learning and research.
• We have to prepare future ready skilled resources in India to meet the expectations of the fast-paced development.
• We want to develop an education system so that the youth of our country don’t need to go abroad. Our middle-class families need not spend lakhs and crores of rupees. Not only that, we also want to create such institutions that attract people from abroad to come to Bharat instead.
• India’s talent should not be hindered because of language. The strength of the mother tongue empowers even the poorest child in our country to fulfil their dreams.
• ‘National Research Foundation’ was created, providing it with a legal framework to develop a permanent system that continuously strengthens research.
• It is a matter of great pride that we have decided to allocate one lakh crore rupees for research and innovation in the Budget so that the ideas of our country’s youth can be realized.

Ministry of Tribal Affairs

• Youngsters, farmers, women and tribals, everyone fought continuously against slavery.
• We are leaving no stone unturned to ensure that the benefits of PM Jan Mann schemes reach each of tribal brethren at various remote settlements in villages, hills and forests.
• As we approach the 150th birth anniversary of Bhagwan Birsa Munda, let us draw inspiration from his legacy.

Ministry of Women & Child Development

• We have launched the National Nutrition Mission with special focus on the first generation of Viksit Bharat.
• 10 crore women have become a part of women self-help groups in the last decade.
• Women become guarantors and custodians of social transformation when they are financially empowered.
• One crore mothers and sisters joined women self-help groups and are becoming ‘lakhpati didis’.
• Funds allocated to women self-help groups will be increased from 10 lakhs to 20 lakhs.
• Till date, a total of nine lakh crore funds has been channeled via banks to these self-help groups.
• The paid maternity leave was extended from 12 weeks to 26 weeks for working women by our Government.
• Women are taking on leadership roles. Today, in many areas—be it our defence sector, the Air Force, the Army, the Navy, or our space sector—we are witnessing the strength and capabilities of our women.
• As a society we should seriously dwell upon the atrocities being meted out to our mother, sisters and daughters.
• Crimes against women should be investigated without any delay. Those committing such demonic acts must be booked prima facie to reinstate the trust on the government, judiciary and civil society.
• The need of the hour is that there should be a wide discussion about the criminals who get punished so that even those who commit such sins fear the consequences including hanging to death. I feel that it is very important to create this fear.

Ministry of Health and Family Welfare

• India must tread the path of ‘Swasth Bharat’.
• India achieved the fastest vaccination drive of crores of population against Covid.

Ministry of Environment, Forest and Climate Change

• India’s focus is now on green growth and green jobs
• Green jobs are imperative in India's efforts to combat climate change.
• India commits to become a global hub through the Green Hydrogen Mission.
• India was a pioneer in banning single-use plastics and to significantly advance our renewable energy efforts.
• India has been the only country among the G20 nations to meet its Paris Accord goals, ahead of time.
• We have met our renewable energy targets and are ambitiously working towards reaching the target of 500 GW of renewable energy by 2030.

Ministry of Commerce and Industry

• “Vocal for Local” has become a new mantra for economic development.
• “One District One Product” is the new wave now.
• Bharat will become an industrial manufacturing hub and the world will look up to it.
• We must embrace the call of "Design in India" and move forward with the dream of "Design in India and Design for the World."
• State governments should establish clear policies to attract investments, offer assurances of good governance, and ensure confidence in the law-and-order situation.
• India's commits to become a global leader in semiconductor production
• India must leverage its rich ancient legacy and literature to come up with Made in India gaming products.
• Indian professionals must lead the global gaming market, not just in playing but also in producing games.
• Indian standards should aspire to become international benchmarks.
• Bharat's contribution to global growth is substantial, our exports are continuously rising, our foreign exchange reserves have doubled, and global institutions have increasingly placed their trust in Bharat.
• We are proud that our toy industry has also become a name to reckon with in the global market. We have started exporting toys.
• There was a time when mobile phones were being imported, but today India has a large hub of manufacturing ecosystem of mobile phones and we have started exporting them all over the world. Such is the prowess of India.                                                                                                      Ministry of Railways
• Government is committed to make its railways a net-zero carbon emitter by 2030.

Ministry of Jal Shakti

• Every family today is embracing a clean environment and encouraging dialogue on cleanliness.
• Every citizen is behaving responsibly and checking on each other to ensure a social change towards clean habits and environment.
• Today, 12 crore families are receiving hygienic tap water supply through Jal Jeevan Mission in a short duration.

Ministry of Housing and Urban Affairs

• Four crore pukka homes have given a new lease of life to the poor.
• Three crore new homes have been promised in an effort to further this national agenda.

Ministry of Animal Husbandry

Along with striving for comprehensive development, fulfilling the needs and aspirations of our fishermen and livestock keepers has been a part of our policies, our intentions, our reforms, our programs, and our work style.

 Ministry of Culture 

• Today, we honour the brave freedom fighters who fought for our nation’s freedom. Our country remains forever indebted to their sacrifice and service.
• Independence Day is a festival to remember their grit, resolve and patriotic virtues. It is due to these Bravehearts that we have the good fortune of breathing freely on this festival of independence. This country is deeply indebted to them.
• Today, the entire nation is united under the Tricolour — every house is adorned with it, with no distinctions of caste, creed, higher-class, or lower-class; we are all Indians. This unity is a testament to the strength of our direction.

Ministry of New and Renewable Energy

• India has achieved more in the renewable energy sector than G 20 Nations collectively. 
• India is working hard to become self-reliant in the energy sector.
• The PM Surya Ghar Free Electricity Scheme is set to provide new strength, and its benefits will be felt by the average families in our country, particularly the middle class, when their electricity bills become free. Those who generate electricity from solar energy under the PM Surya Ghar Yojana, can also reduce their fuel costs.
• The demand for electric vehicles is on the rise

Ministry of Power

• When a common man hears from the ramparts of the Red Fort that electricity will be provided to 18,000 villages in Bharat within a specific timeframe and that promise is fulfilled, their confidence is strengthened.
• There are still 2.5 crore Indian families living in darkness without electricity.

Ministry of Road Transport and Highways

• We have constructed roads connecting the remotest of villages and borders to bring these regions to the mainstream.
• Through these robust infrastructure networks, we have been able to fulfill the needs of the Dalits, victimized, exploited, deprived, backward, tribals, indigenous, aboriginals and inhabitants of forests and hills and far away border areas.

Ministry of Youth Affairs & Sports

• The aim is to train India's youth and become the skill capital of the world.
• 1 lakh youth should be inducted into the political system, specifically those with no history of politics in their families.
• Given the challenges of sustaining an entire family on small plots of land, we are making comprehensive efforts to equip the youth with the skills needed to secure new jobs and create additional sources of income.
• On behalf of 140 crore fellow countrymen, I extend my congratulations to all the athletes and players of our nation who represented India in the Paris Olympics.
• I also convey my heartfelt best wishes to all our Paralympic athletes.
• Our goal is clear: to host the 2036 Olympics on Indian soil. We are preparing for this and making significant progress towards it.

Ministry of DONER

North East India is now a hub for medical infrastructure and this transformation has helped us touch the lives by delivering accessible healthcare till the last mile.

Ministry of Skill Development

• Government is actively taking steps to promote the skill development of our youngsters.
• We have earmarked a huge fund in this year’s Budget for Skill India Programme.
• Internships for youth, emphasized in this budget, helps gain experience, build their capacity and showcase their skills in the market.
• Bharat’s skilled manpower will make their mark in the global job market. We are moving forward with that dream.

Ministry of Law & Justice

• The current Civil Code resembles a Communal Civil Code, one that is discriminatory.
• Laws that divide our nation based on religion and foster discrimination have no place in modern society.
• After 75 years of a Communal Civil Code, it is crucial to move towards a Secular Civil Code.
• It is our collective responsibility to realize the vision of the framers of our Constitution.
• We should welcome diverse opinions and perspectives regarding the secular civil code.
• India should come forward to embrace the concept of "One Nation One Election".
• Over 1,500 laws were eliminated to ensure citizens are not trapped in a web of legal complexities.
• We have replaced the centuries-old criminal laws with new criminal laws known as Bharatiya Nyaya Sanhita, whose idea at core is to ensure justice for citizens as against British ideology of reprimand and punishment.