10 big achievements under 10 years of Modi govt

Synopsis

Narendra Modi as PM: In Budget 2014 finance minister Nirmala Sitharaman outlined the 10-year economic achievements of the BJP government. Sitharaman emphasized the government’s commitment to comprehensive GDP – Governance, Development, and Performance. She highlighted macroeconomic stability, robust investments, improved economy, increased average real income by 50%, moderate inflation, and effective program delivery.

​PM Modi
Finance minister Nirmala Sitharaman today presented the final Budget of Modi 2.0 government.

Union Finance Minister Nirmala Sitharaman today presented interim Budget 2024, equalling the record of former Prime Minister Morarji Desai, who as finance minister, presented five annual budgets and one interim budget between 1959 and 1964. This is her sixth Budget as the Finance Minister – five annual budgets and one interim budget – and last of Modi 2.0 government.

Besides delivering on high growth, finance minister Nirmala Sitharaman said, the government is equally focussed on a more comprehensive GDP – I.e., Governance, Development and Performance. “There is macroeconomic stability, investments are robust, economy is doing well, people are doing well, with greater aspirations for future, average real income has increased by 50%, inflation is moderate, people are getting empowered to pursue their aspirations, there is effective and timely delivery of programmes and large projects,” the finance minister said in her Budget speech.

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Sitharaman asserted that the Indian economy has undergone a significant and positive transformation over the past decade. Under the leadership of Prime Minister Narendra Modi, the government has, according to Sitharaman, addressed various aspects of inclusivity through structural reforms, programs aimed at benefiting the public, and the creation of employment opportunities.

In December, the Reserve Bank of India revised its GDP growth projection for the ongoing fiscal year, raising it to 7% from the earlier estimate of 6.5%.

The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls. A full budget will be presented by the new government.

The Budget Session of Parliament began on Wednesday as President Droupadi Murmu addressed a combined gathering of Lok Sabha and Rajya Sabha. This session, marking the final one before the Lok Sabha elections anticipated in April-May this year, is scheduled to have of eight sittings spread over 10 days. The primary focus of the budget session will revolve around financial matters related to the interim union budget for the fiscal year 2024-25.

In her Budget speech, finance minister Sitharaman outlined the 10-year economic performance of the Modi government. Here is what Sitharaman said.

  • Average income of people has increased by 50%
  • 25 crore people got freedom from multi-dimensional poverty in the last 10 years.
  • GST has enabled one nation, one market, one tax
  • Infrastructure build-up is being seen in record time
  • Direct transfer of Rs 34 lakh cr using PM Jan Dhan scheme has led to savings for government.
  • Inflation has been under check and has been within the policy band
  • PM SVANIDHI scheme gave credit assistance to 78 lakh street vendors
  • Crop insurance given to 4 crore farmers under PM Fasal Bima Yojana
  • Direct benefit to 11.8 crore per year under PM Kisan scheme
  • 30 crore MUDRA Yojana loans have been given to woman entrepreneurs
  • Female enrollment in higher education has gone up by 28% in 10 years

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William Murphy

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