PM Modi bats for infrastructure development for economic growth

New Delhi: Prime Minister Narendra Modi on Sunday appealed all the state to enhance of speed of capital expenditure and infrastructure development to maximize economic growth.

Modi, while speaking at the third meeting of the Governing Council of Niti Aayog, said that the long, medium and short term action plans of the think-tank will surely benefit all the states of the country.

"Niti Aayog is working on a 15-year long term vision, seven-year medium term strategy, and three-year action agenda," he said at the meeting which was joined by chief ministers of several states, union ministers and a few senior officials.

PM Modi further asserted that the vision of 'New India' can only be materialised by combined efforts and cooperation of all the states.

"Team India" has gathered here to hold proper discussion over the methods to prepare the country for changing global trends, said the PM, adding, "It is our responsibility to keep the India of 2022 in mind – the 75^th anniversary of Independence - and ensure the ways which can lead the country towards its goals."

Patting Niti Aayog's back for taking steps for transforming India, the prime minister appealed the government, private sector and civil society to work in collaboration to speed up development. He clarified that the Aayog's strength is in its ideas and not in administrative and financial control.

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Pointing out that the Chief Ministers of the states have to come to the Aayog seeking approval of budgets or plans, PM Modi said the body has stopped relying on government inputs and has hired a number of outside specialists, experts and young professionals.

States need "to speed up capital expenditure and infrastructure creation," he said.

Blaming poor infrastructure for the slow economic growth of the country, the Prime Minister said more expenditure on basic infrastructure such as roads, ports, power and rail would help in speeding up the growth.

Commenting on the change in the date of budget presentation, the PM said the move ensures timely availability of funds at the beginning of the financial year.

"Earlier, budgeted scheme funds were generally not approved by Parliament till May, after which they would be communicated to states and ministries. By that time, the monsoon arrived. Hence, the best working season for schemes was typically lost," he added.

Talking about the Goods and Services Tax (GST), he said the consensus on the new indirect tax regime will go down in history as a great illustration of cooperative federalism.

"GST reflects the spirit of 'One nation, One aspiration, One determination'," he added.

He also called for carrying forward the debate and discussion on simultaneous Central and state elections.

The meeting held at the Rashtrapati Bhavan was attended by several chief ministers, including from non-BJP ruled states like Punjab Chief Minister Captain Amarinder Singh, Bihar's Nitish Kumar, Tripura's Manik Sarkar and Karnataka's Siddaramaiah.