New Delhi: Prime Minister Narendra Modi today inaugurated the Delhi Economics Conclave in the national capital.
Speaking on the occasion, he said that 'transforming Indian economy is a marathon, not a sprint'.
The Prime Minister also said that the government has for the first time entered into a monetary framework with the Reserve Bank of India (RBI) to curb inflation.
"We embarked on a course of fiscal consolidation. We entered for the first time into a monetary framework agreement with RBI to curb inflation. By all economic indicators, India is doing better now than when we took office 17 months ago. We have taken a slew reforms to put economy on the growth path. Major steps have been taken to improve efficiency, including clear performance measures and accountability mechanisms," he said.
"Maximum value for every rupee spent, maximum empowerment for our poor, maximum technology penetration among masses," Modi added.
The theme of the conclave this year is Realising India's JAM -- Jan-Dhan, Aadhar, Mobile vision. This is the first time that the Prime Minister inaugurating the Delhi Economics Conclave ever since it began in 2010.
The day-long conclave will deliberate on topics like India and international experience in cash transfers, benefits and risks of biometric authentication-evidence from social programs in India, Financial Inclusion and Direct Benefit Transfer scheme.
On development in the banking sector, Modi said that 19 crore people were brought under the banking system in 19 months.
"Accounts opened under Jan-Dhan yojana have a total balance of almost Rs 26,000 crore today. For me, JAM (Jan-Dhan, Aadhaar, Mobile) Vision is just about achieving maximum," Modi.
He also emphasised that India should be known as a job creater nation, not a job seeker nation.
The conclave is being attended by Finance Minister Arun Jaitley, RBI Governor Raghuram Rajan, MoS for Finance Jayant Sinha, Chief Economic Advisor Arvind Subramanian and Niti Ayog Vice Chairman Arvind Panagariya, among others.
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