Growth not by accident, says Modi

In what appeared to be an answer to critics who alleged a lack of big-bang reforms in the past 17 months, the PM said the NDA government’s reforms were far broader, and far deeper, than was generally recognised. “My appeal to all of you is to think beyond conventional remedies. We should not limit our idea of reforms to a few standard notions,” said Mr Modi.

The Prime Minister asked if the aim of government should be to impress experts and score points in some intellectual discussions. “Or to achieve ranks in some international league table? Again, my answer is clear... Reform is that which helps all citizens, and especially the poor, achieve a better life. It is Sabka Saath, Sabka Vikas,” the PM said, adding that “reforming to transform is a marathon, not a sprint”.

Mr Modi listed Jan Dhan Yojana, Pradhan Mantri Mudra Yojana, new social security schemes, the soil health card, the housing for all programme and the Universal Account Number for employees among the reforms launched to bring the poor into the economic mainstream and to bring about a transformation.

He pointed out changes in interest rates were debated for months and tonnes of newsprint and hours of television were spent on it. “But are they important to a person locked out of the banking system? To a person who has no prospect of ever lending or borrowing from a bank?” he asked. The PM said the NDA government, through the Jan Dhan Yojana, had brought 190 million people into the banking system.