Prime Minister Narendra Modi on Saturday said that the land that gave the world the concept of zero, is now becoming the land of infinite innovations, adding that India was not only innovating but also “Indovating,” meaning innovating the Indian way.
PM Modi highlighted that India is creating solutions that are affordable, accessible, and adaptable, and offering these solutions to the world without gatekeeping.
“When the world needed a secure and cost-effective digital payment system, India developed the UPI (Unified Payments Interface) system,” he said.
PM Modi said that Professor Carlos Montes was impressed by the people-friendly nature of UPI technology and mentioned that today, countries like France, UAE, and Singapore are integrating UPI into their financial ecosystems.
He also mentioned that many countries are signing agreements to connect with India’s digital public infrastructure, India Stack.
“During the COVID-19 pandemic, India’s vaccine demonstrated the country’s quality healthcare solutions to the world,” PM said.
The Prime Minister highlighted that the Aarogya Setu app was made open source to benefit the world.
He emphasized that India is a major space power and is helping other countries achieve their space aspirations.
PM Modi stated that India is working on AI for public good and sharing its experience and expertise with the world.
Mentioning that ten years ago, filing an ITR was a difficult task for an ordinary person but today, it can be done in a few moments, and refunds are credited to accounts within days, the Prime Minister highlighted that the process of simplifying income tax laws is ongoing in Parliament.
He added that income up to Rs 12 lakh has been made tax-free, benefiting the salaried class significantly and emphasized that the budget has helped young professionals fulfill their aspirations and increase their savings.
PM Modi stated that the goal is to provide ease of living, ease of doing business, and open skies for the country’s people and their aspirations.
He noted that many startups are benefiting from geospatial data, which previously required government permission to create maps.
“The government has changed this, allowing startups and private companies to make excellent use of this data,” PM Modi said.
