Industry must invest, innovate; take advantage of Budget announcements: Modi

New Delhi: Prime Minister Narendra Modi on Friday asked the industry to come forward with investment and innovation, and exhorted financial institutions to help them with practical solutions and strengthen market confidence. Addressing a post-Budget webinar on 'Technology, Reforms and Finance for Viksit Bharat', Modi said when government, industry and knowledge partners come together, "reforms translate into results", and "announcements on paper turn into achievements on the ground". In the last one decade, the government has laid emphasis on infrastructure, he said, adding that public capex has increased from Rs 2 lakh crore 11 years ago, to over Rs 12 lakh crore in the Union Budget 2026-27. This high capex allocation is a signal to the private sector to come forward with new vigour, Modi said, adding that the industry should take advantage of all the 2026-27 Budget announcements. "India Inc should come forward with fresh investment, innovation; financial institutions should help design practical solutions and improve market confidence," Modi said.

Over the past decade, India has demonstrated extraordinary resilience, the PM said, adding that this has not happened by chance but due to conviction-driven reforms. The government has also simplified processes and made ease of doing business much simpler. "My suggestion is that we should develop a clear 'Reform Partnership Charter' which will have collaboration between government, industry, financial institutions and academia. This charter will become an important document in the goal to achieve Viksit Bharat by 2047," he said. Observing that the Budget is often evaluated on different parameters, Modi said "the national Budget is not a short-term trading document. It is a policy roadmap. Therefore, the effectiveness of the Budget should also be assessed on solid and substantive parameters".