Speaking at the India Economic Summit 2016, Gita Gopinath, Professor of Economics, Harvard University said that India is a bright spot, however, the turnaround in commodity prices could pose challenges. She even said that low commodity prices are a boon for India. Gopinath also added that 7th Pay Commission increases have greater potential to push inflation higher. When asked about GST she said, “GST is a great outcome and a transformational event for India.” She further said that there should be less slabs in GST and also the exemption list should be pruned. “Job creation in India is slow and Narendra Modi-led governmemt needs to focus majorly in Skilling. Investments are yet to see pick-up, therefore job creation in India is slow,” she advised. When asked about Aadhar she said, “Aadhar has the potential to transform people’s life.”
Meanwhile, the Modi government is also trying to publicise its reforms on an international scale. Recently, Minister of External Affairs Sushma Swaraj spoke about government’s various reforms at UNGA. She said, “I am happy that the 17 goals adopted by this Assembly are matched by the development vision of my Government, which is geared towards the achievement of these same objectives. Under the Swachh Bharat Mission (Clean India Campaign), more than 400,000 toilets have been constructed in schools. The Beti Bachao Beti Padhao (Educate the Girl Child, Save the Girl Child) programme has become a nation-wide mission.
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“The Make in India brand is receiving international acclaim. Almost 250 million bank accounts have been opened for the poor under the Jan Dhan Yojana, the largest financial inclusion programme the world has ever seen. Digital India is transforming the country. Under the Skill India initiative, a number of programmes are underway to enable youth to reap the demographic dividend. These initiatives have added a new dimension to India’s growth story, making it the fastest growing major economy in the world at a time of slow global growth,” Swaraj said.