Govt has no business to be in business: PM on economic policy | Latest News India - Hindustan Times
close_game
close_game

Govt has no business to be in business: PM on economic policy

By, Hindustan Times, New Delhi
Feb 10, 2022 12:35 AM IST

Modi, who was speaking to news agency ANI, also highlighted foreign investments and the robust response to pro-business government schemes as indicators of the strength of the Indian economy and the direction where it was headed.

The government’s job is to care for the poor, ensure food, toilets, houses, and supply of clean drinking water, and has “no business to be in business”, Prime Minister Narendra Modi said on Wednesday.

PM Narendra Modi during an interview with ANI. (ANI)
PM Narendra Modi during an interview with ANI. (ANI)

Modi, who was speaking to news agency ANI, also highlighted foreign investments and the robust response to pro-business government schemes as indicators of the strength of the Indian economy and the direction where it was headed.

Hindustan Times - your fastest source for breaking news! Read now.

“The government’s job is to care for the poor, to ensure food, toilets, houses, clean drinking water, drinking water, roads for people. The government’s job is to care for the poor if they are sick,” Modi said.

“The job of the government is to see how the produce of small farmers reaches markets. My priority is to provide all this. If somebody calls it Samajwad (socialist), it is acceptable to me,” he added, responding to questions about the economic principles of his Bharatiya Janata Party.

The BJP’s principal challenger in UP is the Samajwadi Party, which counts economic socialism as its mainstay principle. Modi attempted to draw a distinction between the two.

“If you listen to our economic principles since the days of Jana Sangh, we have faith in the people, on their capabilities and the government policies should give them opportunities. We are making such policies that they get the maximum opportunity. This is our view that government has no business to do business. How does it connect with socialism? This is against socialism,” he added.

“Why is it that India has the highest volumes of FDI, FII? Why is it that when the pandemic struck, countries dialled India for medicines? We have now even brought PLI (production linked incentive) schemes that have drawn very good response,” he added.

The Modi government recently executed the significant disinvestment of Air India, which was a major drain on the financial resources of the exchequer. The administration has lined up several other big ticket disinvestment plans, including by selling stake in the Life Insurance Corporation (LIC) of India, although the move has been criticised by the opposition parties.

Countering the Prime Minister, Congress spokesperson Randeep Surjewala tweeted: “Today’s king got the reins of a prosperous country with a fast growing economy and democratic values in 2014. He hurt democracy every day... His decisions damaged the country.”

Unveiling Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch now!

Get Current Updates on India News, Election 2024, Arvind Kejriwal News Live, Bihar Board 10th Result 2024 Live along with Latest News and Top Headlines from India and around the world.
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Thursday, March 28, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On