2024-08-16 10:11:43
New Delhi: Prime Minister Narendra Modi on Thursday said Indian banks are among the strongest banks globally due to his government’s major reforms.Addressing the nation from the ramparts of the historic Red Fort, the Prime Minister said a strong banking system strengthens the formal economy. He said earlier the banking sector was going through a tough phase but now the sector is growing.Modi said, “Just think what was the condition of our banking sector. There was no growth, no expansion and no confidence (in the banking system). Our banks were going through a tough phase… We did major reforms to strengthen the banking sector. Today, because of the reforms, our banks are among the strongest banks globally.”He stressed that a strong banking system is important to meet the needs of the middle class, farmers, homebuyers, startups and the MSME sector.
1, 2, 3… What will be the number of Indian economy by the end of Modi 3.0, IMF has given the data
Changes needed in farming
Modi also stressed the need for change in the agriculture sector and said that the government is making extensive efforts to improve the lives of farmers. He also expressed concern over the deterioration of soil health due to the use of chemical fertilizers. He said that the government has launched programs to promote natural farming and budget allocation for such agricultural methods has also been increased.
Modi expressed confidence that India can become the world’s organic food producer. He said that it is very important to bring changes in our agricultural system. This is the need of the hour. Modi said that his government is giving every possible help to farmers to adopt modern methods. He also described easy loans for purchasing drones as one such measure.