India is witnessing an all-round transformation. The economy and its different sectors have become vibrant and are buzzing with activity as the country marches ahead to implement the vision, and mission of Prime Minister Narendra Modi, to usher in a period of positive change with the promise of a better life for all.
While corruption had reached its zenith, various institutions were devalued and irreparably undermined. There was a yawning fiscal deficit, a revenue deficit, current account deficit, trade deficit and worst of all, a trust deficit. It was in these circumstances that the NDA was voted to power with a massive mandate. Now, it is time for some stocktaking as the NDA government completes two years in office, on May 26.
PM COMES OUT WITH OUT-OF-BOX IDEAS
Undeterred by the obstacles created by the opposition, the Prime Minister has come out with several out-of-the-box ideas and has been the driving force behind the launch of many innovative schemes by the government-be it Swachh Bharath, Make In India, Digital India, Skill India, Startup India, Beti Bachao Beti Padhao (which seeks to ensure gender balance), Mudra Bank, financial inclusion and social security measures, etc. An example of the out-of-the box idea is the decision to promote 100 per cent neem-coated urea production to increase soil fertility capacity and prevent its diversion for non-agricultural use. The highest-ever urea production of 245 lakh MT in the country was recorded in 2015-16.
ECONOMY REVIVED AND INVESTMENT INCREASED
Even as the world economy slowed down, India's economy began to revive. A recent UN publication World Economic Situation and Prospects Report noted that India’s economy was slowly gaining momentum, with an expected GDP growth of 7.3 and 7.5 per cent in 2016 and 2017, respectively. This in itself speaks volumes of how efficiently the economy is being managed.
India’s standing has gone up internationally and the FDI increased by 48 per cent, while manufacturing picked up from 1.7 per cent in June 2014 to 12.6 per cent in 2016. Inflation has been controlled while India’s Foreign Exchange reserves have touched a record high of $363.12 billion.
INDIA’S IMAGE BOOSTED GLOBALLY
On the foreign policy front also, India is witnessing a sea-change with Prime Minister Modi establishing a personal rapport with world leaders like the United States President Barack Obama and Japanese premier Shinzo Abe, even as he directly connected with the Indian diaspora and encouraged them to be partners in the nation's development story.
Major powers have extended support to India's claim for a permanent membership in the United Nations Security Council and also agreed to facilitate its entry into the Nuclear Suppliers Group. Australia and Canada have agreed to supply uranium to India, even as investments started flowing into different sectors in the country. The appointment of veteran banker K.V. Kamath as the first President of the New Development Bank of BRICS nations is another feather in the cap for the Indian government.
WELFARE, DEVELOPMENT GO HAND-IN-HAND
One of the most laudable achievements has been the approval of OROP (One rank One Pension) scheme for ex-servicemen, an issue that defied resolution for years. Till the end of March, more than 15.9 lakh pensioners were given the first installment. The scheme's implementation is estimated to cost the exchequer Rs 8,000- Rs 10,000 crore. A look at infrastructure development shows the gradual turnaround being achi-eved in this all-important sector.
The Narendra Modi government has already unlocked Rs 3.5 lakh crore of the Rs 3.8 lakh crore road projects which remained stuck during the previous Congress-led UPA regime. As a result, road construction has risen from 8.5 kms/day to 11.9 km/day in 2014-15 and 16.5 km in 2015-16. Similarly, the construction of national highway projects went up from 3,500 km in 2013-14 to 10,000 km in 2015-16.
COOPERATIVE FEDERALISM
In a watershed decision, the government accepted recommendations of the 14th Finance Commission to transfer 42 per cent of taxes to states from the divisible pool and five per cent to local bodies, reflecting the spirit of cooperative federalism. It should also be mentioned here that in Mr Modi, we have a hands-on, pro-active Prime Minister who reaches out to the people immediately in the aftermath of natural calamities like Hudhud cycl-one, Chennai floods or major tragedies like the one witnessed in Kollam recently.
INTRODUCED BANKING FOR THE UNBANKED
Another important scheme, Pradhan Mantri Jan Dhan Yojana has led to the opening of 21.56 crore accounts and deposits to the tune of '35,600 crore, while a stupendous number of 9.41 crore policies were taken under the Pradhan Mantri Suraksha Bima Yojana. The other major initiative of the NDA government, ‘Housing for All by 2022’, seeks to provide two crore shelters in urban areas and four crore in rural areas, while the Smart Cities and AMRUT schemes are set to change the urban landscape in the country.
Under our PM, decision-making has replac-ed the policy paralysis witnessed during the UPA regime. As is evident, the NDA government believes in bringing the states on board as partners in development in a true ‘team India’ spirit. From the course charted by this government, it is clear that the country is in the hands of not only a good administrator, but a reformer, performer and a transformer.
— (Author is Union Minister for Urban Development, Housing and Poverty Alleviation & Parliamentary Affairs)
