Addressing the 'Traders Sammelan' at Talkatora Stadium in New Delhi, PM Narendra Modi on Friday has emphasized the various advantages of his business policies which have improved the youth participation in trade and commerce.
"By promoting transparency in business, the youth have also started using innovative ways to promote their business. Otherwise, they used to tell their fathers that 'I am not going to run your business'. Today, the reverse is happening. They (youth) have started pumping new ideas and life into the business."
Drawing comparisons between the previous government's time-consuming processes and the BJP's push towards digital transactions, he said:
"Previously due to the interference of government agencies, youngster used to shy away from joining the business or they started their own jobs. Now, due to push towards the digital sector, amending significant laws and due to GST, lots of problems faced by the youth have been solved."
Speaking on the MUDRA scheme, he added that he has simplified the loan procedures by offering no-guarantee bank loans.
"Apart from this, they are helped by the MUDRA scheme. Due to this scheme, 4.5 crore new businesses have been sanctioned loans without any guarantee. Previously, even for certification, there were a lot of formalities required. I give money on based on trust."
Earlier, in the conference, he had lashed out at the Congress government for introducing what he said was a bad perception towards traders post-Independence.
"After independence, under Congress rule, a perception was made that whatever problems are there are being created is all because of businessmen. The hoarders of Congress took advantage of inflation. In the Congress regime, a perception was created that the traders were responsible for inflation. Am I right? The reality is that the trader receives the double blow of inflation," the Prime Minister said.
He also spoke about making it easier for businessmen to navigate several legal processes in India.
"Before the election in 2014, I had said that I will come and finish a law every day and you will be happy that in the last five years, 1,500 laws have been scrapped. My aim is 'ease of living'," he had declared.