(Image source from: PM speech aims at Economy coupled with development})
Prime Minister Narendra Modi while addressing the Economic Times Global Business Summit in New Delhi, spoke about the feasibility of the business in India as his government is emphasizing more on transparent and efficiency to bring up the revenue and to cut down the wastage and delay.
In his speech he first came across the reformation process and its results in various sectors. He lauded the gas subsidy program as the largest of world. He said that nearly one third of the total household are benefitting out of the cash transfer program. The success is making way for direct cash transfer scheme for many other programs.
Expenditure Management Commission is expected to suggest ways to put down the wastage in government expenditures. And this will ultimately encourage productivity in the government offices and programmes.
He expressed confidence in his government’s stringent steps for reformation is giving the output, while coming across the inflation levels and deregulated price levels. He said that last year inflation was 15% and in last month it stood at 3.1%. and encouraged the RBI to cut the interest rate.
While speaking on the GST, he connoted that it was pending from a decade period and consensus building among the states really is breakthrough after Independence. Now states are more empowered to participate in the discussions and can play constructive role in developing India.
He came across the flagship inclusiveness program Pradhan Mantri Jan Dhan Yojana, which created 100 million bank accounts within 4 months and said this became real because of bankers support and stakeholders active participation. Now India is nearly a 100 percent bank account holder’s nation. He also said that earlier debate on social unity was there now it is time for debate on financial unity.
He supported the move to amend cap of FDI in insurance and defence sectors investment. Constitution amendment for land acquisition method encourages the business class and the government committed to give rightful price and compensation to the farmers and land sellers.
Transparence and efficiency in governance is needed so as to improve the ease of doing business. Public Sector Banks will have total autonomy without any interference. Biometric attendance like corporate and private offices makes the staff of government also efficient. He also said that PDS distribution system should be updated so as to nullify the corruption. He insisted for the computerization from the fci go-down to ration shop to consumer.
National Institute for Transforming India (NITI Aayog) is designed for cooperative federalism, where every state can take part formulating the plans and developmental activities. He said that cooperative competitive federalism is needed to guide the states in a better direction constructively. He expressed confidence that trust and partnership between centre and the states shall emerge from cooperation only.
We have done a lot so far and more will be done in future. Reforms must be a concrete objective to develop every corner of the nation. Reforms may not be apparent for one and all but the government committed to encourage every section of the society.
Health assurance for every citizen is his dream and he wanted to make it true, regarding this he mentioned Swachch Bharat Campaign which can keep India clean and healthy. And during the freedom movement the mantra was Satyagrah the warrior is satyagrahi. The mantra new age India will be swachchagrah warriors will be swachagrahi
Clean Ganga program not only linked with environment, water, and religion This is an economic activity because Gangetic plains accounts for 14 of the human population in India, Modern economy can be started there.
Lab to land agriculture is important for uplifting the agriculture sector, so that rates come down farmers can benefit a lot. Everything should be concentrated on the real development. But for moksha devotees do chardham yaatra, in government works chattish dham to moksh. He committed to simplify the processes as well as max governance and minimum government.
India should go from $2 trillion economy to $20 trillion economy, should we not environment for creating this. Digital India and Skill India are attempts in this direction, skill India will harness the demographic dividend for improving standards.
India’s core philosophy is Sarva Mangala Mangalya and Sarve Bavanthu Sukinah:, a call for global welfare, global cooperation and balance living.India can be a role model of growth and cohesiveness. India should no longer be listed with least developed.
His speech was fully concentrated on the futuristic aims and changes in the governance for benefiting every stake holder. His focus on social development is coupled with economical development also. He is fully promoting India in the International arena.
AW: Kannamsai
