PM Narendra Modi urges India Inc investment push

With the government having done much of the heavy lifting through an aggressive capex push in recent years, Prime Minister Narendra Modi on Sunday said it is now time for the private sector to step up, invest boldly and drive the next phase of innovation-led, globally-competitive growth.

- AGENCIES

Modi said his government has used its years in office to plug the “structural gaps left behind by earlier administrations”, pursue bold reforms and lay the foundations for a developed India.

Asserting that the just-unveiled annual budget marks the “next level” of that journey, he said the FY27 Budget sharply scales up capital expenditure to Rs 12.2 lakh crore -- a five-time increase compared to 2013 -- reinforcing the government's strategy of prioritising infrastructure creation, logistics expansion and investment in sunrise sectors to drive long-term growth.

It lays emphasis on spending on rail, roads, digital and energy infrastructure, alongside measures to ease compliance and improve the credit flow as the central lever for job creation and economic momentum, the prime minister said.