Red-tapism, corruption history, says PM Modi; invites investors

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Updated: November 4, 2019 3:51:04 AM

The PM said India has stopped working in a “routine, bureaucratic manner”, and pointed out the “leakages” in service delivery.

pm modi, pm narendra modiThe PM also pointed to the decision to cut corporate tax rates, the “economic integration” achieved with GST and pitched India as an attractive destination for investment.

Inviting global business to invest in India, Prime Minister Narendra Modi on Sunday said the “corrupt are running for cover” in the country and that middlemen in the corridors of power are “history”.

Addressing an event to mark the golden jubilee of the Aditya Birla Group’s presence in Thailand, Modi said: “Red-tapism is falling. Cronyism is falling. Corruption is falling. The corrupt are running for cover. Middlemen in the corridors of power are history.”

The PM also said India has stopped working in a “routine, bureaucratic manner”, and pointed out the “leakages” in service delivery. “India has seen many success stories in the last 5 years in various sectors. The reason for this is not only the governments. India has stopped working in a routine, bureaucratic manner,” he said.

Modi’s comments come a day after German Chancellor Angela Merkel told the Indo-German Chamber of Commerce in New Delhi that “many medium-sized business owners” from Germany face “hurdles” in finding their way through the “bureaucratic labyrinth” in India, and that she had discussed the issue with the Prime Minister.

Referring to “some positive changes”, Modi said: “In today’s India, many things are rising and many are falling. ‘Ease of Doing Business’ is rising and so is ‘Ease of Living.’ FDI is rising. Our Forest Cover is rising. The number of patents and trademarks are rising. Productivity and efficiency are rising. Pace of infrastructure creation is rising. Number of people getting top quality healthcare is rising. At the same time, Number of taxes are falling. Tax rates are falling. Red-tapism is falling. Cronyism is falling. Corruption is falling. The corrupt are running for cover. Middlemen in the corridors of power are history.”

The Prime Minister also provided the examples of Jan Dhan Yojana and Swachh Bharat Mission to highlight India’s “success stories”. “Transformative changes are arising due to ambitious missions undertaken. When these ambitious missions are energised by the partnership of people, they become vibrant mass movements. And, these mass movements achieve miracles. Things that were supposed to be previously impossible have now become possible,” he said.

Referring to service-delivery leakage as a “big problem” that India faced, Modi said: “The poor suffered most due to this. You would be shocked to know that for years, money was spent on the poor which did not really reach the poor. Our government ended this culture thanks to DBT.”

The PM also pointed to the decision to cut corporate tax rates, the “economic integration” achieved with GST and pitched India as an attractive destination for investment. Modi said India received $286-billion FDI in the last five years which, he said, is almost half of the total FDI in India in the last 20 years.

“All of what I have said just now makes India one of the world’s most attractive economies for investment,” he said.

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