Modi asks financial institutions to come up with futuristic ideas to fund emerging economic needs: The Tribune India


PTI

New Delhi, March 8

Prime Minister Narendra Modi on Tuesday asked financial institutions to come up with innovative and futuristic financing and risk management ideas to finance the emerging needs of the economy.

Stating that implementing green finance is the “need of the hour” to achieve the goal of net zero carbon emissions by 2070, Modi said financial assistance should be extended to environmentally friendly projects. ‘environment.

“Our finance sector will have to look at new ideas and futuristic initiatives and think about innovative financing ideas and sustainable risk management,” Modi said during a post-budget webinar on “Financing for Growth and ambitious economy”.

He also stressed the need to identify eight to 10 sectors where India can be among the top three globally and called on financial institutions to expand credit support.

Modi also pushed bureaucrats to come up with “workable solutions” to implement the 2022-23 Union budget proposals.

He said the country is investing heavily in health infrastructure and asked banks to explore the possibility of prioritizing credit in this sector.

Modi also said that if banks give priority financing to exporters, it will make them stronger and help them in the Atma Nirbhar Bharat scheme.

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