With less than a year left for 2019 Lok Sabha Elections, India has shown the world its economic prowess, displacing France to become the sixth-largest economy. Meanwhile, back home, PM Narendra Modi’s growth economics is also reaching rural India. Finance Minister Arun Jaitley yesterday expressed confidence that India will surpass Great Britain to become world’s fifth-largest economy by next year, given the economic expansion continuing at the projected rate.
He also sought to showcase how the less privileged and rural India are getting access to the resources on priority. In the penultimate year before the 2019 general elections, Arun Jaitley yesterday sought to explain in eight points how Narendra Modi’s growth economics is delivering benefits to rural India.
Following India’s emergence as world’s sixth-largest economy, Arun Jaitley has explained how Modi’s growth economics is delivering benefits to rural India in 8 points.
Agricultural credit & Kisan credit cards
Following the successful implementation of ‘Jan Dhan Yojana’, delivery of credit to the weakest has become possible, Jaitley said. In the CY 2018, the agricultural credit to be disbursed is Rs 11 lakh crore. “The Kisan Credit Cards have been extended to fisheries and animal husbandry farms,” Arun Jaitley wrote on Facebook. Further, there have been large sanctions for research and education, Pradhan Mantri Fasal Bima Yojana, the interest subsidy for the short-term credit to be given to the farmers, Jaitley said.
Rural expenditure & better infrastructure
In 2018, the total amount to be spent for livelihood and infrastructure in rural areas, both from the Budget, extra-Budget and non-budgetary resources, is Rs 14.34 lakh crores, according to Arun Jaitley. “Each village will be connected with a pucca road. Target for pucca housing, each house to have electricity, each house to have a toilet, every poor family to have a gas connection,” Jaitley added.
MSPs are like a back support for farmers. “For fourteen agricultural crops, in what appeared impossible, the farmers will get an MSP for Kharif crops at 150% of the cost of production,” Arun Jaitley said.
More jobs, better life
According to Arun Jaitley, following the investments projected for this year alone will provide to rural India, 321 crore person-days of employment, 3.17 lakh kilometres of rural roads, 51 lakh rural homes, 1.88 crore toilets, 1.75 crore of new electricity connected households.
Food and Medical amenities
“The total amount sanctioned this year for the implementation of the low-cost food under the Right to Food programme is Rs.1,60,000 crores. Once the ambitious ‘Ayushman Bharat’ is implemented, hospitalisation for those 40% at the bottom of the ladder will be possible where the expenditure is up to Rs 5 lakhs a year for each year per family,” Arun Jaitley said.
“This benefits all – irrespective of religion, caste or community. The Congress provided India’s poor with slogan. Prime Minister Modi has given them resources. This will ensure faster growth and lead to a faster depletion in the poverty,” Arun Jaitley said further.