‘Reforms A Conviction, Not Compulsion'

Scrapping Of Retro Tax To Strengthen Trust Between Govt, Industry: PM

New Delhi: Prime Minister Narendra Modi said on Wednesday that his government was able to undertake difficult reforms because it is acting out of conviction rather than due to compulsion, and would not flinch from taking the biggest risk in the interest of the nation.

Addressing the annual session of the Confederation of Indian Industry (CII), the PM also said that abolition of retrospective taxation will strengthen the trust between the government and the industry, adding that the government had rectified a mistake of the past.

“We have taken bold decisions. Reforms continued even during pandemic. The government is doing reforms not out of compulsion but out of conviction,” the PM said, while elaborating on the raft of bills approved in the monsoon session of Parliament, which he said will boost the government’s efforts. He also urged industry to take advantage of the growth, which was picking up pace, and increase its risk appetite.