Finally India gets an accountable, responsive and efficient “CEO” on the Job 21 hours a day seven days a week constantly engaging with the people. Narendra Modi has arrived to fulfill the aspirations of 130 crore Indians. In its first year the government had to initiate massive re-structuring to create an efficient. scam-free, dynamic and responsive administration inherited from UPA’s indecisive , paralytic and a corrupt regime.
The very first cabinet meeting cleared the setting up of a Special Investigation Team for the black money stashed abroad. The planning commission has been dismantled to set up the NITI Ayog with significant participation from leaders of all 29 states and Union territories. The move augmented better center-state coordination in policy formulation and evolve a shared vision of national development. The government effectively managed legislative business with the passage of nearly 30 important bills in the parliament and the historic indo-bangladesh land boundary agreement bill 2015 cutting across party lines aims to bring peace on india’s north-eastern borders.
It also managed to kick start nearly 30% of the projects held up during the 10 year UPA government for various reasons. The Project Monitoring Group set up in the Cabinet secretariat cleared 186 projects worth 6.8 Lakh crore and several more are in the process of resolution. The E-auction of Spectrum fetched over 1.9 lakh crores to the exchequer. The coal block e-auction generated rupees 2.52 Lakh crores and the entire proceeds would be given to states; this will enable eastern states to develop at par with rest of the country. Allowing 100 per cent FDI in railway will boost its expansion plans. In the defense sector, foreign investment up from 26 to 49 % under government route (FIPB). FDI to India doubled to US$ 4.48 billion in January 2015, the highest inflow in last 29 months, from US$ 2.18 billion in January 2014
The Pradhan Mantri Jan-Dhan Yojana is a National Mission for Financial Inclusion of rural as well as urban households. Over 14 crore accounts have been opened so far. Modi also launched the MUDRA Bank which will provide credit of up to Rs 10 lakh to small entrepreneurs and act as a regulator for ‘Micro-Finance Institutions’ (MFIs). The initiative aims at Generating employment and promoting self-employment. He launched the country’s biggest-ever cleanliness drive that is expected to cost over Rs 62,000 crore, asserting that the “Swachh Bharat” mission is “beyond politics” and inspired by patriotism. The Universal insurance schemes have been implemented with huge success.
Exhorting people not to regress to 18th century mindset Shri Narendra Modi made an emotional pitch to end discrimination against the girl child. He launched twin programmes of “Beti bachao, beti padhao” and “Sukanya Samriddhi account” in a bid to encourage birth and education of girls and tackle the abysmally low child sex ratio of 918 girls for 1000 boys.
Under the Atal Pension Yojana the Government has decided to work towards creating a universal social security system for all Indians, specially the poor and the under-privileged, to address longevity risks and to encourage workers in the unorganized sector to voluntarily save for their retirement.
Agriculture, which contributes 14 per cent to the gross domestic product and employs 55 per cent of the population, gets priority. The government has set a target of Rs 8 lakh crore for agriculture credit during 2015/16. It has decided to continue the Interest Subvention Scheme and raise corpus of Rural Infrastructure Development Fund to Rs 25,000 crore. Shri Narendra Modi launched the Soil Health Card Scheme. Basic information and crop wise recommendations for fertilizers’ usage will help farmers take informed decisions to improve productivity. Farmers will be able to seek aid even if 33 percent of their crop is damaged, as opposed to more than 50 percent. “The amount of compensation has been increased to 1.5 times. If earlier a farmer was getting Rs 1 lakh, he will get Rs. 1.5 lakh… a 50 per cent increase,” “Banks, insurance companies, central and state governments will help restructure loans to get farmers out of the crisis situation.
On the economic front the modi government performed exceedingly well. Fiscal defecit as per % of GDP has come down from 4.4 to 4.1 , Investments (Gross fixed capital in % from, -0.3 in 2013 to 4.1 in 2015 , Rupee slightly over valued but stable against the dollar , Current Account deficit as % of GDP from 4.7 down to 1.3 , Annual inflation rate from 6.8 % last year to 5.2. Containing food inflation also seemed to be the focus with the government announcing Price Stabilization Fund of Rs 500 crore to mitigate the risk of price volatility in agricultural produce. Many international and national rating agencies forecast a positive outlook for Indian economy. Moody’s raises India outlook to ‘positive’, edges toward ratings upgrade. Credit rating agencies Standard & Poor’s and Fitch both rate the country’s outlook as “stable”. India’s growth rate is expected to rise to 7.5 percent this year and next, making it one of the fastest growing economies in the world, according to the IMF’s latest economic health check.
The successful test firing of AGNI-III ballistic missile, Indian Navy’s first Scorpene submarine , first made-in-India nuclear-powered submarine INS Arihant. and the first of P15-B stealth destroyers INS Visakhapatnam are some of the quick completion initiatives undertaken from long pending projects. The purchase of 36 fly away rafales from france adds might to the air force. The successful launch of chandrayaan and launch of PSLV C23 puts India into the elite club of countries .At heart Modi’s “Make in india“ campaign is the thrust on Indigenous defense production capabilities. Over 60% of defense requirements are met by imports . This will change and the government aims to transform the country into a manufacturing powerhouse and advocates boosting of exports, and incentivize import substitution. The number of tourists visiting India thereby creating employment and revenues for the state has gone up by 6 Lakhs compared to previous year’s data. Banks which tended to favor large corporations in organized sector with big loans have been urged to facilitate capital for small businesses who are the biggest employers in India.
The government has begun the process to accord Indian citizenship to over 7000 Pakistani Hindu migrants who have been living in India as refugees for many years.