NEW DELHI: Promising reforms that will transform lives, Prime Minister Narendra Modi today said the Government will not eliminate all subsidies but will rationalise and target them to the needy.
He said unnecessary controls and distortions will be eliminated and promised efficiency in allocation of resources as well as creation of opportunities for citizens to progress.
“I am not arguing that all subsidies are good. My point is that there cannot be any ideological position on such matters. We have to be pragmatic. We have to eliminate bad subsidies, whether or not they are called subsidies.
“But some subsidies may be necessary to protect the poor and the needy and give them a fair chance to succeed. Hence my aim is not to eliminate subsidies but to rationalise and target them,” he said addressing the Economic Times Global Business Summit here.
He also took a dig at economists and corporates saying any dole for industries is called incentive or subvention while for farmer it is derogatorily called subsidy. (AGENCIES)
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