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OPINION | 6 min read

2 Years of Acche Din: Meenakshi Lekhi on NDA’s

Policy Initiatives

Meenakshi Lekhi
May 23, 2016, 3:08 am

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Engagement 3

(As the NDA government completes two years in power, The Quint brings for its readers
‘Modi@2’, a special series evaluating the performance of the current regime.)

The NDA government under the leadership of Shri Narendra Modi completes two years
in office. Way back in May 2014 what it inherited was a socio-economic climate of
hopelessness and a catastrophic spiral into economic gloom. Successive governments in
the past facilitated an import-driven regime to meet domestic consumption. Such a
policy framework not only depleted our foreign exchange reserves but took away
manufacturing and agricultural activity abroad. It is a no brainer that when we import
less, domestic economic activity gets its fair share of new jobs and business
opportunities.

It therefore, took some time to deal with a governance architecture which simply
needed drastic make-over resulting in a corruption free, efficient and a development
driven executive. Reform is a relatively slow but effective process wherein all
stakeholders participate in a constructive framework of blending skills, capital and
regulatory mechanisms to create jobs and businesses that propel economic prosperity.
The three Ds of Demand, Democracy and Demography are in favour of India.

People in large numbers throng Nagpur Municipal Corporation office to fill Pradhan Mantri Awas
Yojana forms on March 22, 2016. (Photo: IANS)

Reforms in Banking Sector

Among the many development driven initiatives, the key has been banking sector
reforms. With exceptions though, the sector was more or less a tool for crony capitalists
and anti-national forces to loot taxpayers’ money. Over Rs 10 lakh crore of non-
performing assets and bad loans exist on banks’ books. Credit was accessible only to a
select few.

For the first time in the history of independent India, the banks
are held accountable for their deeds. Wilful defaulters and
corrupt bankers are on the run. The Bankruptcy Bill has
strengthened the process of credit offtake and efficient usage of
taxpayers’ money in the banks.

The Jan Dhan Yojana saw opening of over 20 crore bank accounts. Never before in
economic history would 15 million bank accounts have been opened on a single day.
Never before has the Government of India organised a programme of such scale. The
primary goal being direct transfer of government subsidies to people, by linking the
unique identification (Aadhaar) card to PMJDY and getting beneficiaries to use the bank
account.

Direct Benefit Transfer has so far been extended to 42 schemes funded by the
government. PAHAL has become the largest direct cash transfer program of its kind in
the world, with nearly 15 crore beneficiaries. The PMJDY is also considered as the
world’s largest ‘Social Insurance Programme’ wherein poor families are covered with
subsidised premiums.
 BJP President Amit Shah giving away an LPG connection to a tribal woman under Pradhan Mantri
Ujjwala Yojana in Dahod district in Gujarat, May 15, 2016. (Photo: PTI)

Other Initiatives

The Pradhan Mantri Awas Yojana, launched on 25 June 2015, envisages construction of
about 2 crore houses to benefit primarily slum dwellers, urban poor and people from
economically weaker sections and lower income groups of society. In its first year alone,
2011 towns/cities in 27 states have been included under this mission. A total of over
4,25,000 houses have been sanctioned with a project cost of over Rs 24,600 crore.

The Make in India program is the centrepiece of the government’s drive to attract fresh
foreign investment and spur job creation. The programme seeks to transform India into
a global manufacturing powerhouse. Since its launch, the Hon. Prime Minister Shri
Narendra Modi has pulled out all the stops to court the international community about
their participation in the India story.

The Modi government’s economic initiatives has created fans and admirers
domestically, among business leaders as well as foreign leaders. The world is eager to
partner India in this initiative.

Make in India recognises ‘ease of doing business’ as an

important factor to promote entrepreneurship. A number of
initiatives have already been undertaken to ease business
environment. Steps are being taken to de-licence and de-
regulate the industry during the entire life cycle of a business.

India’s high-value industrial sectors – defence, construction and railways – are now
open to global participation. Policy in the defence sector has been liberalised and FDI
cap raised from 26 percent to 49 percent. Portfolio investment in the defence sector is
permitted up to 24 percent under the automatic route. Hundred percent FDI is allowed
in the defence sector for modern and state- of- the- art technology on a case to case
basis.

Hundred percent FDI under automatic route is permitted in construction, operation and
maintenance in specified rail infrastructure projects. A simplified tax system has been
formulated for ease of doing business. Basic customs duty on 22 inputs/raw materials
has reduced manufacturing cost in various sectors.
Falsehood by Anti-Modi Brigade

The anti-Modi cottage industry has got nothing to criticise the government with and
therefore resorts to rhetoric and false allegations. Just as they tried to frame him in the
false Ishrat Jahan case while he was Chief Minister of Gujarat, several attempts are
neing made to discredit him. “Rs 15 lakh to be deposited in every account” from the
black money brought back to India is another bit of falsehood used by the anti-Modi
brigade.

The fact of the matter is, in none of his rallies has Narendra Modi ever promised voters
that he’ll deposit Rs 15 lakh in every citizen’s account. He had claimed that ‘there is so
much money looted from India, that if all of it is brought back, then everyone’s share
would be approximately Rs 15 lakh’. His speech in Chhattisgarh during the 2014 rally is
available verbatim for all to see on YouTube. He has been misquoted for political
adventurism. Sections of the Left-controlled media are responsible for such a motivated
and malicious campaign against Shri Narendra Modi.

Snapshot

NDA’s Policy Initiatives

Jan Dhan Yojana: An ambitious financial inclusion programme launched in

August 2014 that provides an insurance cover to the poor.
PAHAL: Direct benefit transfer scheme for LPG launched in January 2015,
enabling automatic transfer of subsidy to respective bank accounts.
Pradhan Mantri Awas Yojana: Social welfare programme for urban poor
aimed at providing financial assistance for building houses.
Make in India: Launched by Prime Minister Modi to encourage international
companies to manufacture their goods in India.
Pradhan Mantri Ujjwala Yojana: A scheme that will provide free LPG
connections to BPL families for a period of three years.
Adhering to ‘Sabka Saath, Sabka Vikas’
Resolve

The NDA government under the leadership of Hon. Prime Minister Shri Narendra Modi
is developing national waterways to cut logistics cost, make Indian industry competitive
and help developing smart townships along the rivers. The cost of travelling by water is
substantially less compared to travelling by road or train. Going by road, the cost for
example is Rs 1.50 (per km); by railway, it is one rupee and going by water, it is only 25
paise.

One of the significant policy initiatives has been the prevention of Chinese goods into
the Indian markets. Anti-dumping duties on many items being imported from China
and other such countries has resulted in the surge in domestic manufacturing sector. By
promoting the domestic defence manufacturing sector the government could create
over 90 lakh jobs.The ‘Sabka Saath, Sabka Vikas’ slogan of BJP has its footprints in the
Modi government’s resolve to transform the lives of the poorest of the poor. The
Pradhan Mantri Ujjwala Yojana - Scheme for providing free LPG connections to women
from BPL households has been launched recently. Under the scheme, Rs 8000 crore has
been earmarked for providing five crore LPG connections to BPL households.

This is the first time in the history of the country that the Ministry of Petroleum and
Natural Gas would implement a welfare scheme benefitting crores of women belonging
to the poorest households. Meeting the aspirations and creating opportunities for the
people of world’s youngest country is an enormous task ahead for the government.
India has become world’s fastest growing economy and the party has just begun.

(The writer is a BJP MP in Lok Sabha and party’s national spokesperson. She can be
reached at @M_Lekhi)

Also Read: Modi@2: After Mobile App, Modi Releases His Own Song

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