'New India' is moving ahead with new policies and strategies: PM

Prime Minister Narendra Modi said on Thursday the "new India" is moving ahead with new policies and strategies, and his government is working proactively in matters of technology and infrastructure, shunning the "reactive approach" of the past.

In a video address to a 'Rozgar Mela', Modi asserted the 'Mudra' loan project for small and micro enterprises has created over 80 million new entrepreneurs, and the government's policies and strategies have opened the doors to new possibilities.

He also took a swipe at those who "consider themselves big economists" and gave "loans on phone" to big businessmen but are "ridiculing" the scheme.

Though he named no one, his swipe was apparently aimed at Congress veteran and former finance minister P Chidambaram who recently questioned the 'Mudra' scheme and wondered what kind of businesses can be started with a loan of Rs50,000.

Modi said Rs 2.3 trillion loan has been given under the scheme with 70 per cent of beneficiaries being women.

Microfinance does a lot in strengthening grassroots economy but some people who consider themselves big economists never realised this and they don't understand the capabilities of the common man, he said.

The massive infrastructure work going on is creating huge employment and self-employment opportunities, he said.