New Delhi, Feb. 28 -- India continues to ride the "Reform Express" to increase participation from industry and financial institutions in infrastructure and emerging sectors, Prime Minister Narendra Modi said on Friday, emphasizing the need to strengthen the bond market and foreign investment framework. Addressing the first post-budget webinar on "Technology Reforms and Finance for Viksit Bharat", the Prime Minister stated that the government is further simplifying the foreign investment framework to make the system more predictable and investor-friendly. He underscored the need to further simplify the buying and selling of bonds as enablers of long-term growth. "There is need to ensure predictability, deepen liquidity, and introduce new instruments to manage risk effectively and attract sustained foreign capital," he said, urging stakeholders to learn from global best practices to help strengthen the bond market and foreign investment framework. The Prime Minister's comments indicated the intent behind the upcoming financial sector reforms proposed in the Union budget for 2026-27. Presenting the budget in Parliament on February 1, finance minister Nirmala Sitharaman proposed the next level of reforms in the financial sector, having achieved strong balance sheets for Indian banks that now cover over 98% of Indian villages. "I propose setting up a 'High Level Committee on Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth, while safeguarding financial stability, inclusion and consumer protection," Sitharaman said in her speech. Her proposals include equipping non-banking financial companies (NBFCs) with the latest technology, restructuring the Power Finance Corporation (PFC) and Rural Electrification Corporation (REC), and introducing a market-making framework with suitable access to funds and derivatives on corporate bond indices. On Friday, the Prime Minister called for further simplifications to the foreign investment framework to attract sustained foreign capital and improve long-term financing. The strategy includes developing more active bond markets, simplifying bond trading processes, and strengthening project sanction methodologies through rigorous cost-benefit analysis and life-cycle costing. "These steps aim to makethe system more predictable and investor-friendly while managing risk effectively," he added. Emphasising that the national budget is a policy roadmap rather than a short-term trading document, Modi called for a collective effort to realize the goal of a developed India by 2047. He said the budget's effectiveness should be assessed through concrete parameters, such as expanding infrastructure, simplifying the flow of credit, improving the ease of doing business, and increasing transparency in governance. "Budget decisions related to these aspects provide permanent strength to the economy," he said....