Prime Minister Narendra Modi on Friday stressed the need for nurturing an atmosphere where the economy is primed for growth and growth promotes all-round development. Addressing a business summit in New Delhi, Mr. Modi said, the development should be employment generating and the employment enabled by skills. He said, elimination of poverty is fundamental to his government.

Mr. Modi said, a series of scams from telecom to coal in the past, had paralysed the country's economy and the new government has to repair the damage that had happened. The Prime Minister said that India can no longer afford flight of capital and labour. He said, inflation has been controlled through firm measures.