Salient Points of PM Modi’s remarks at the inauguration of National Institute of Securities Markets campus at Patalganga on 24th Dec, 2016

• India is being seen as a bright spot. Growth is projected to remain among the highest in the world

• India’s place as the fastest growing large economy has not come about by accident

• In 2012-13 fiscal deficit had reached alarming levels.Currency was falling sharply.Inflation was high. Current account deficit was rising

• In less than 3 years, this government has transformed the economy

• Financial markets can play an important role in the modern economy

• However history has shown that financial markets can also do damage if not properly regulated

• For financial markets to function successfully, participants need to be well informed

• India has earned a good name for its well regulated securities markets

• Government is very keen to encourage start-ups. Stock markets are essential for the start-up ecosystem

• Our markets should show that they are able to successfully raise capital for projects benefiting the vast majority of our population

• SEBI should work for closer linkage between spot markets like e-NAM and derivatives markets to benefit farmers

• Those who profit from financial markets must make a fair contribution to nation-building through taxes

• My aim is to make India a developed country in one generation