The small entrepreneurs and not the rich industrialists were the real champions of the Indian economic system providing employments to crores of people notwithstanding the fact that they have limited access to finances, Prime Minister Narendra Modi said on Saturday.
The PM was speaking at the inaugural function of three mega social security schemes — Pradhan Mantri Suraksha Bima Yojna, (PMBSY), Pradhan Mantri Jeevan Bima Yojna (PMJJBY) and Atal Pension Yojana (APY). He said though the larger industrial houses contributed significantly to the Indian economy the real show was run by the lesser entrepreneurs as they provided employment to about 14 crore people “despite their small resources and limited access to finance.”
In a prompt and witty response to an earlier statement of Bengal Chief Minister Mamata Banerjee who in her speech wondered as to why thousands of panchayats were still not covered by social welfare schemes the PM said “it is a 60 year legacy that the Chief Minister is talking about” adding “she has raised the issue here in front of me because she is confident that none other than this man (Modi) will do the unfinished work.”
Advocating centre-state cooperation for developing the country Banerjee had said “poor and the underprivileged constitute the foundation of this country and hence should not be left out of any scheme,” adding each panchayat should be covered by a bank.