- Speaking extempore on his debut speech on Independence Day, PM Narendra Modi pledged to take India forward with inclusive and sustainable growth. He also said that:
- A new institution will replace the Planning Commission and foster cooperative federalism, facilitate public-private partnership and tackle better the economic challenges faced b the country.
- The poor will be empowered by facilitating better access to finance.
- States play a large role in making policies and decisions for the economy and have to be taken forward for India to progress.
- India should become the manufacturing hub and invited global manufacturers to come to India for manufacturing.
- The products so produced in India should have zero defects and have no negative impact on the environment.
- He called upon young entrepreneurs to build the brand of ‘Made in India’ and focus on domestic production of items of imports such as electronic goods and gadgets, so as to turn net exporters over time.
- Digital India – is targeted at telemedicine, broadband connectivity, quality education in village schools and delivery of governance and banking through mobile phones for the poor.
- He announced:
- Pradhan Mantri Jan Dhan Yojana which gives the poor a bank account with a debit card with a built-in insurance cover of Rs. 1 lakh.
- Mission ‘Skilled India’ for a countrywide network to develop a globally competitive workforce.
- His ideas and pro-industry stand was welcomed by the bigwigs of the industry who are exalted with his invitation to global manufacturers. They said:
- Turning India into a manufacturing hub will promote high economic growth and the govt should focus on ease of doing business, trade policy and taxation issues to facilitate the same.
- Policy intervention in design IP, Research & Development, taxation, predictability, infrastructure and labour laws are vital.
- The Digital India and Skill India schemes are all very crucial in delivering on ‘minimum government, maximum governance.
- Read at: http://www.thehindu.com/todays-paper/tp-business/industry-captains-hail-modi-for-probusiness-statements/article6322604.ece
- http://www.thehindu.com/todays-paper/future-lies-in-manufacturing-modi/article6322449.ece