Rising aspiration India's greatest asset: FM Jaitley launches 'Axis Dil Se' initiative

Finance Minister Arun Jaitley on Tuesday launched Axis Dil Se - a CSR initiative to transform over 100 schools in the 'most beautiful yet disadvantaged part of India', Leh and Kargil.

Addressing the gathering, Jaitley lauded the efforts of Axis bank in their new initiative to bring education to these areas, adding that India's greatest asset is the rising aspiration of the people.

"This is a very important initiative taken by Axis Bank. Education is a great leveller, which can be provided by state or corporate assistance only. In developed economies, corporate charity is important, a trend which has recently been developing in India," he said.

"Initially, it was taken with some level of resistance and was seen as a tax. However, the recent past has seen a drastic change in thinking. While there are different forms of expenditure, choice of destination for the same is also important. Education is something that comes with medium-term feedback itself. Hopefully the new initiative will help broaden the horizon of development in the region," added Jaitley.

Terming the region around Leh and Kargil to be the 'most beautiful yet most disadvantaged area' in India, Jaitley claimed that the new initiative can help bring problems faced by the people in this region to the forefront.

"The state of Jammu and Kashmir has three regions, Leh and Kargil being the third sub-section. While the other two regions are more aggressive with their claims, this area needs more attention. Everything is costing more, and income-generation capability is low. The conflicts in the area come as an added disadvantage," said Jaitley, urging other firms to follow the path laid out by Axis Bank and take up similar initiatives.

Meanwhile, Axis Bank launched its CSR project which is targeted towards the upgradation of over a 104 schools in the areas surrounding Leh and Kargil in Jammu and Kashmir.