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Prime Minister Narendra Modi on Friday vowed that he will transform the way people live in India by implementing economic reforms that will actually deliver results especially to the poor in a much better way. Here are top 10 points in PM Narendra Modi speech about the achievements of the NDA government and the road ahead:
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1. PM Narendra Modi: Entrepreneurship is one of India's traditional strengths. It was sad to see it was neglected in the last few years. 'Business' and 'profits' had become bad words. We have changed that. We need to value enterprise and hard work, not wealth.
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2. PM Narendra Modi: True reforms are those which result in transformation of the lives of citizens. As I have said before, my goal is 'reform to transform'.
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3. PM Narendra Modi: The quality of life of the common citizen has to be improved. If a government is progressive, and runs an honest and efficient administration, the biggest beneficiaries are the poor. I know from my experience, that poor governance hurts the poor more than it hurts others. Therefore, improved governance is as important as economic reform.
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4. PM Narendra Modi: We have ended the era of high level corruption… We have ended political interference and crony capitalism in nationalised banks. The benefits of improved governance and reduced corruption are lasting and profound
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5. PM Narendra Modi: Over 200 million unbanked people have been brought under the banking system under the Jan Dhan Yojana and these accounts today have a balance exceeding Rs 30,000 crore. A new and comprehensive programme of crop insurance has been introduced and soil health cards issued to farmers.
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6. PM Narendra Modi: We inherited a struggling economy, just recovering from a currency crisis. In less than two years, we have taken India to the top of global league tables of foreign investment and growth. Since the NDA Government took office, growth has increased and inflation has decreased. Foreign investment has increased and the fiscal deficit has decreased. And despite a slow-down in global trade, the balance of payments deficit has also decreased.
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7. PM Narendra Modi: FDI in India has increased by 39 per cent in the last 18 months, at a time when global FDI has fallen.
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8. PM Narendra Modi: The global economy is going through a period of uncertainty and in a connected world actions of one country affect another. While there is economic stagnation in many parts of the world, India has been the fastest growing large economy during the last four quarters. It contributed 7.4 per cent of global GDP in purchasing power terms and 12.5 per cent to global growth, 68 per cent higher than its share.
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Prime Minister expressed happiness saying the government's efforts to promote khadi were bearing fruit as various state- owned institutions were using products made from the fabric. (Express photo)
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10. PM Narendra Modi: There is a need to improve the use of natural and human resources. This means increasing the efficiency in allocation of resources. It means greater managerial efficiency. It means removing unnecessary controls and distortions.
