PM Modi says India has kept fiscal deficit, price rise in check

Fiscal deficit and price rise are under check, said Prime Minister Narendra Modi on Thursday, adding that enhancing the investor confidence is also in view of the government in a bid to further strengthen the country's economy.

"We have kept the fiscal deficit in check. Price rise is also under check and there is macro-economic stability. Investor confidence should increase, the country's economy should be strengthened, for this, we have also taken several steps," the Prime Minister said in a reply to the Motion of Thanks on the President's Address in the Lok Sabha.

"We are working on labour reforms and that too after consulting the labour unions, among the things that will drive India's progress in next-generation infrastructure. In the earlier days, infrastructure creation brought 'economic opportunities' for a select few. Not anymore. We have made this sector transparent and are working to boost connectivity," he stressed.

India has taken many initiatives in industries, irrigation, social infrastructure, rural infrastructure, ports, and waterways, the Prime Minister said.

"In the coming days, we will move ahead with infrastructure projects worth Rs 100 lakh crore. The development of infrastructure will give impetus to the economy and boost employment," Modi said.