Mumbai, Dec 24 (UNI) Prime Minister Narendra Modi today inaugurated SEBI's National Institute of Securities Market (NISM), a state-of-the-art academic institute at Patalganga in neighbouring Raigad district here. Speaking at the inaugural function PM Modi said "The Government will take all the strong decisions for the sake of the country, demonetisation is one of them". He further said that demonetisation was 'short-term pain and long-term gain'. "People suffered from the demonetisation, but still they have been supporting the decision taken by the Government", he said. To make sound and efficient economy policy, the Government would not take short term policy decision, he expressed. On inflation, Prime Minister recalled 2012-13 year of the UPA-II when Indian currency was falling freely against US dollar, foreign investors were moving out of the Indian market and fiscal deficit was high. "Today inflation is less than four per cent" he said. Appreciating the Securities and Exchange Board of India (SEBI) role, PM Modi said the organisation was playing vital role to promote healthy security market as a regulator. The NISM is a state-of-the-art academic initiative of the watchdog Securities and Exchange Board of India (SEBI). It is spread across 70 acres and performs a wide range of capacity building activities at various levels aimed at enhancing the quality standards and increasing public participation in the securities markets. The NISM campus has been constructed at a cost of around Rs 400-crore through the Public-Private Partnership (PPP) route. Former Prime Minister Manmohan Singh had laid its foundation stone in 2013. UNI ST NV PS SNU 1441