'India will be developed nation by 2047': Modi

Addressing a post-Budget webinar on ‘Unleashing the Potential: Ease of Living Using Technology’, Modi said the government wants to reduce the cost of compliance of small businesses, and asked the industry to formulate a list of compliances that can be pruned. “We want to reduce the compliance cost of small businesses. Can you (industry) formulate a list of unnecessary compliances that can be pruned. We have finished 40,000 compliances,” Modi said. He also said technologies like 5G and AI (Artificial Intelligence) are leading conversations now and poised to transform areas like medicine, education, agriculture, and many other sectors. The prime minister exhorted stakeholders to identify 10 problem areas facing the common man which can be solved using AI. He said 21st century is technology-driven, and one can't restrict it to just digital, internet technology.