10 policies undertaken by the Modi government that will go a long way in improving our economy.

    The Modi Government has spent three years in power against the promise of bringing “acche din“. The BJP enjoys an absolute majority and has thus been able to put forth many policies to practice. Here is a look at some of the game changing decisions taken by the Modi government.

     

    1. Demonetisation

    Regarded as the most radical decision taken by the Modi government, demonetisation sparked a lot of debate countrywide. Two of the highest valued currency notes were removed from being legal tender bringing the market to a stiff standstill. The idea was to curb the untaxed or black money circulating within the economy and to promote cashless transactions. Although there was difficulty in the initial stages, the economy recovered by the end of the quarter. The high cash flow in the market was also kept in check. It was a bold and beautiful move.

     

    2. Make in India

    Soon after taking charge, PM Modi launched the campaign to attract foreign investment and build brand India. Since then, the government has gradually eased restrictions for foreign investors and opened nearly 90 per cent of the country’s industrial base, including the defense sectors and the railways. Further, the move was to give an impetus to manufacturing in India and support local entrepreneurs.

     

    3. Goods and Services Tax

    The government’s mega reform to do away with a tangle of taxes and levies and club them under one tax kicked in on July 1. It is an attempt to check revenue leakages and diminish the cascading effect of existing taxation policies. GST will bring lots of economic benefits in the future. Taxation process is relatively simpler with a clear audit trail. It brings everyone under the scanner of the government. It also tends to bridge the gap between the goods and service sectors. Business is set to grow and corruption to lessen.

     

    4.Swachh Bharat Abhiyan

    A pet project of the Prime Minister, Swachh Bharat Abhiyan aims to clean India by personally promoting healthy habits. The PM and various renowned celebrities were seen with brooms on the street, setting an example for the common people. Not just stopping with cleaning the locality, the government has taken initiatives such as building more toilets, waste management, and waste segregation. Cleanliness is a lifestyle idea and as it grows in the minds of people it will definitely lead to a tidy and healthy surroundings. A cess too is being collected in the name of Swachh Bharat, ensuring contribution of every citizen towards Cleaner India.

     

    5.Jan Dhan Yojana

    Crores of bank accounts have been opened as part of the scheme to give every household in India citizen easy access to banking facilities and set up accounts at zero balance. It even made a Guinness world record. The idea behind the scheme is to map the entire population on the banking network. It is an attempt to promote a credit based economy. The scheme has proven a big boost in moving towards direct subsidy transfer.

     

    6.Yemen Evacuation

    This was one of the biggest evacuations during the times of war since the Gulf War I. Gen. (Retd) V.K. Singh personally oversaw the operation. The External Affairs Minister headed by Sushma Swaraj earned laurels for helping the Indians living abroad, be it for rescuing Kerala nurses from war-torn Libya or bringing back differently-abled Geeta from Pakistan. A sense security has been established in citizens that the country cares for them.

     

    7.LPG subsidy reforms

    Initially started as a ‘Give It Up’ campaign, the Petroleum and Natural Gas Ministry headed by Dharmendra Pradhan barred LPG subsidy to customers who earn more than Rs. 10 lakh per annum. The amount saved was used to give over five lakh new LPG connections to those who still use firewood or kerosene stoves for cooking. A ton of subsidy money regularly being wasted on people who did not need it was saved by the decision. The same money could be put to productive and income generating ventures.

     

    8.Bankruptcy code

    The Modi Government is the first of its ancestors to look into matters of the RBI and banking sector. At a time when bankers were grappling with a huge rise in non-performing assets and government eyeing to create more entrepreneurs, the amendment of existing bankruptcy laws was necessary. With the support from Congress, the law was passed in Rajya Sabha during the Budget Session, laying out strict NPA and loan disbursement norms.

     

    9.Digital India

    This flagship program of Ravi Shankar Prasad’s Communications Ministry aiming to create a knowledge economy is traveling on the right path. Every minister and every ministry are now on Twitter. A slew of e-governance measures; like digital locker and feedbacks through mygov.in in addition to schemes like free e-learning, e-aadhar and other registrations being converted to the online mode; is a huge step forward in terms of making our country technically capable.

     

    10. Foreign Policy

    The numerous and limelight grabbing foreign trips of Narendra Modi has brought a wave of investments for the country. The tie-up with Japan for a bullet train and Google for super fast wifi are among the many trade deals being made. Modi is one of the most active PM so far and his continuous foreign visits are building goodwill for the country. Big companies are ready to invest on a large scale to improve the living standard in India.

     

    A lot of promises were fulfilled, a lot remain. Only time will tell if the Modi government lives up to its claim of bringing good days to fore. The signs do seem positive.

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