Prime Minister Narendra Modi in his Lok Sabha speech on Wednesday (10 February) endorsed the contribution of the private sector in nation building warned against demonising it for political ends.
Prime Minister Modi said that wealth creators are necessary to ensure employment which in-turn will ensure that wealth reaches poorer sections of the society.
Prime Minister Modi also said that the culture of abusing the Private Sector is no longer acceptable and while such a rhetoric may have fetched votes in the past but such times are now gone.
"To use improper words against the private sector may have got votes for a few people in the past but those times are gone. The culture of abusing the private sector is not acceptable any longer. We cannot keep insulting our youth like this", said Prime Minister Modi.
He added that terming the private sector wealth creators as cheats needs to stop and that IAS Officers cannot run everything in the country.
"Will the Babus do everything? If one becomes IAS will he/she do everything like running fertiliser industries, chemical industries or flying a plane...what are we going achieve by handing over our country to Babus. If Babus belong to our country, so do the youth (who work in the private sector)", said Prime Minister Modi.
Prime Minister Modi's comments come at a time when India's top industrialists like Mukesh Ambani and Gautam Adani have been targeted by anti-farm law protesters. This has included vandalism of over 1,500 Jio mobile towers in Punjab.
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