सबल विदेश नीति, सक्षम अर्थव्यवस्था

 सबल विदेश नीति, सक्षम अर्थव्यवस्था

मोदी के प्रयासों से भारत निवेश और व्यापार के लिए आकर्षक जगह बना

भारत की विदेश नीति का एक प्रमुख लक्ष्य है भारतीय अर्थव्यवस्था का विकास। भारत 2032 तक 10 ट्रिलियन डॉलर की अर्थव्यवस्था बन कर 175 करोड़ रोजगार के सृजन का लक्ष्य प्राप्तस करना चाहता है तो विदेश नीति को घरेलू आर्थिक सुधारों के साथ जोड़ना जरूरी है। तभी हम विदेशी पूंजी को बड़े पैमाने पर आकर्षित कर पाएंगे। प्रधानमंत्री नरेंद्र मोदी इस दिशा में निरंतर प्रयास कर रहे हैं। उन्होंने विश्व के महत्वपूर्ण नेताओं के साथ जो व्यक्तिगत घनिष्ठता स्थापित की है, उसने भारत को नया आत्मविश्वास प्रदान किया है। यहां तक कि विश्व की दो बड़ी शक्तियों अमेरिका और चीन के साथ संतुलन स्थापित करने में भी भारत के हित को ध्यान में रखा गया है।

यात्राओं का असर

अभी जी-20 शिखर सम्मेलन में चीन और अमेरिका के आपसी संबंध तनावपूर्ण दिखे, लेकिन भारत के प्रति दोनों का रवैया मैत्रीपूर्ण था। पश्चिमी अर्थव्यवस्थाओं में कई प्रकार की समस्याएं उभर कर आ रही है। वैश्विक अर्थव्यवस्था में अगर फिर 2008 जैसा संकट आया तो पश्चिमी देशों की सरकारे अपनी वित्तीय संस्थाओं को संभाल नहीं पाएंगी। मोदी जी ने वैश्विक स्तर पर लोगों के मन से यह शंका पूरी तरह निकाल दो है कि भारत आने वाले समय में आर्थिक शक्ति के रूप में नहीं उभर पाएगा। उन्होंने भ्रष्टाचार, पारदर्शिता, व्यापार का सरलीकरण और आर्थिक सुधारों की प्रतिवद्धता को लेकर सभी का भ्रम दूर कर दिया है। सरकार ने कर प्रणाली में सुधार के साथ-साथ कॉरपोरेट कानूनों में बदलाव भी किया है। संसाधनों के निष्पक्ष आवंटन, परियोजनाओं को समयबद्ध सरकारी अनुमति और प्रशासनिक बाधाओं को खत्म करने के लिए महत्वपूर्ण कदम उठाए गए है

मोदी सरकार ने मेक इन इंडिया, डिजिटल कट इंडिया, स्मार्ट सिटी, स्वच्छ भारत, स्वच्छ गंगा, नी जीएसटी जैसी नई परियोजनाएं व नीतियां शुरू बदी कर देश के विकास की नई रूपरेखा तैयार की यह है। रुकी हुई परियोजनाओं के पुनर्संचालन व आने विदेशी निवेश संबंधी नीति को उदार बनाकर नहीं भारत में निवेश आसान बना दिया गया है। र्शता, विश्व व्यापार क्षेत्र में द्विपक्षीय व्यापार संबंधों व सुधारों समझौतों का महत्व अब बहुपक्षीय समझौतों से न दूर ज्यादा हो गया है। बहुपक्षीय व्यापार संगठनों सुधार पर सभी देशों को एकमत करना कठिन होता बदलाव जा रहा है। इसलिए आसियान, ब्रिक्स और वंटन, अफ्रीकी देशों के संगठन जैसे छोटे-छोटे समूहों अनुमति और द्विपक्षीय मुक्त व्यापार समझौतों को भारत करने के के आर्थिक एवं सामरिक हितों को बढ़ावा देने के लिए अधिक महत्व दिया जा रहा है।

 पिछले दो वर्षों में मोदी जी ने 42 से अधिक देशों का दौरा किया, जिनमें हर द्विपक्षीय वार्ता के केंद्र में आपसी आर्थिक विकास को रखा। उनकी पहल से भारत, बांग्लादेश, भूटान, नेपाल में एकीकृत परिवहन नीति बनी। उत्तर- पूर्व से म्यांमार तक सड़क परियोजना प्रारंभ हुई जिससे पूर्वोत्तर क्षेत्र का तेजी से विकास होगा। द्विपक्षीय पहलकदमियों के तहत मोदी सरकार ने बांग्लादेश के साथ वर्षों से लंबित भूमि सीमा विवाद समझौता और सामुद्रिक सीमा समझौता किया। अफगानिस्तान में भारत द्वारा समर्थित विकास परियोजनाओं को गति प्रदान की। भारत द्वारा चाबहार बंदरगाह के निर्माण का त्रिपक्षीय समझौता (भारत-अफगानिस्तान-ईरान) आनेवाले समय में बहुत महत्वपूर्ण होगा।

 भारत-जापान संबंध लगातार मजबूत हो रहा है। जापान हमारे आधारभूत ढांचे के निर्माण में विशेष सहयोगी है। जर्मनी की चांसलर एंजेला मर्केल के साथ प्रगाढ़ संबंधों के चलते जर्मनी भारत की तकनीकी और पूंजीगत जरूरतें पूरी कर रहा है। जर्मनी का नदियों के संरक्षण का अनुभव हमारे गंगा सफाई अभियान के लिए आवश्यक है। फ्रांस के साथ साझा कार्यक्रम के  तहत हमने सौर ऊर्जा समझौता किया है, जिसका मुख्यालय गुरुग्राम, हरियाणा में बनाया गया है। मोदी जी ने मध्य एशिया के साथ भी रिश्ते बेहतर किए हैं। उज्बेकिस्तान, तुर्कमेनिस्तान, कजाखिस्तान और ताजिकिस्तान जैसे देश हमारी ऊर्जा जरूरतों के लिए अहम हैं। अफ्रीकी देशों के साथ आदान-प्रदान बढ़ाने की दृष्टि से दिल्ली में पिछले साल इनका सम्मेलन आयोजित किया गया था, जो बेहद सफल रहा। मोदी जी ने एक दूरदर्शितापूर्ण कदम उठाते हुए अनिवासी भारतीयों को देश की विकास प्रक्रिया से जोड़ा।

 मोदी जी की विदेश नीति के कई सार्थक आर्थिक परिणाम प्राप्त हो रहे हैं। 2015 में भारत विश्व में सबसे ज्यादा एफडीआई प्राप्त करने में सफल हुआ है, जिससे विकास की कई बाधाएं दूर हुई। हमें लगभग 200 अरब डॉलर निवेश का आश्वासन अलग-अलग देशों से प्राप्त हुआ है। 2014 में भारत का कुल आयात-निर्यात क सकल घरेलू उत्पाद का 46 प्रतिशत था, जिसे अगले दशक में दोगुना करने का लक्ष्य है। । 2019 तक हम विश्व के अग्रिम स्टार्टअप वाले . देश बन जाएंगे और व्यापार के क्षेत्र में सरलता - की दृष्टि से 50 वें पायदान के ऊपर आ जाएंगे। देश में 60 फीसदी डिजिटल पेनीटेशन हो । जाएगा। 2022 तक हमारे उद्योग जगत का सकल घरेलू उत्पाद में योगदान 15 पर्सेट से बढ़कर 25 पर्सेट हो जाएगा।

 भ्रष्टाचार और काला धन

 ■ पहले जिन विषयों पर हम बचाव की मुद्रा में थे, उन पर चल रही विश्वस्तरीय चर्चाओं में मोदी जी की पहल साफ नजर आ रही है। जी-20 सम्मेलन में मोदी जी ने स्पष्ट शब्दों में कहा कि भ्रष्टाचार और कालेधन पर जीरो टॉलरेंस होना चाहिए। हमे विनीय चोरों की शरणस्थली टैक्स हैवन समाप्त करने हैं और इनको बढ़ावा देने वाली विश्व की कठिन कर संरचना और बैंकिंग प्रणाली को पारदर्शी बनाना है। मोदी जी की ऐसी पहलकदमियों को पूरी दुनिया का समर्थन मिल रहा है।

गोपाल कृष्ण अग्रवाल,
आर्थिक मामलों पर भाजपा के राष्ट्रीय प्रवक्ता

Economic Implication of PM Modi's Foreign Policy

Economic Implication of PM Modi's Foreign Policy

By Gopal Krishna Agarwal,

There is no doubt that Prime Minister Narendra Modi has been able to leverage India’s economic advantages to improve international relations and vice versa. His government has recognized that the country’s leverage is dependent primarily on the size of the Indian economy, its growth trajectory, and the ability of the strong government at the center to address challenges.

India’s ambition to become a $10 trillion economy and to create 175 million jobs by 2032 will depend on internal reform initiatives. Linking India’s Foreign policy to domestic transformation, his policy seeks to attract foreign capital. The policies are geared toward regional stability, peace, and prosperity. Some important issues such as climate change, conservation of water resources, renewable energy, robust economy defense procurement, and manufacturing, which have simultaneous risks and opportunities, are Modi Ji’s vision for a modern India.

Along with this the personal rapport established by PM Narendra Modi with international readers has significantly enhanced India’s profile and given it a confidence never seen before even to the extent of balancing superpower to our own advantages, as can be seen from the recent G20 Summit. There was visible tension between the US & China, but both were at ease and supportive of India’s concerns. India Cushions itself from not becoming marginalized in the larger US-China context. Beijing has committed S20 billion in investments in India in many Industries. The US is also supportive of all-over initiatives.  

Modi ji has been successful in overcoming doubts in the minds of the international community that India will realize its true potential of economic power. He has removed apprehensions with regard to corruption, transparency, ease of doing business, and commitment to reform in tax laws, corporate law, resource allocation, government clearances, removal of bureaucratic hurdles,s, and retrospective taxation. Two major apprehensions under the UPA regime. Policy paralysis and large-scale corruption have been effectively checkmated.  The government has embarked on economic growth with initiatives such as Make in India; Digital India; Smart Cities: Clean India; Clean Ganga;  Ease of Doing Business, Tax reforms such as GST; Bankruptcy law; and project clearances & revival of stalled projects. India has become one of the most open economies with regard to FDI policy.

In the International Business arena; over the years, bilateral trade relations and agreements have gained enormous significance than multilateral pact such as WTO, GATT, etc. It is becoming more and more difficult to bring developing countries to common agreeable points at multilateral platforms and therefore small trade blocs such as ASEAN, SAARC, BRICS AFRICAN Nations and bilateral free trade agreements (FTAs) have gained prominence.

Modi ji has very well leveraged this to India’s economic and strategic advantage. Over the span of two years, He has visited more than 42 countries and held bilateral talks, focused on and nurturing new developmental and economic blocs. His initiatives for Act East Policy, connecting Bhutan Bangladesh India Nepal (BBIN) through GPS and common licensing policy building a road corridor from North East to Myanmar, etc., are commendable.

Bilateral initiatives

Quickly ratified the long pending Land Border Dispute Agreement (LBA) and the Maritime Boundary dispute with Bangladesh. The government has been wise to fast-track India’s developmental projects in Afghanistan. India’s participation in the development of the Chabahar port and a trilateral pact to build a land transit and trade corridor through Afghanistan are stepping stones for bigger future involvement. His visit to Iran shows an understanding of the changing context of Iran, which is now a stable and resourceful country and important for our energy security. India- Japan relations are at an all-time high in the joint statement of India and Japan 2025- India side expressed hope to attract $5.5 billion of investments and support in our infrastructure development. Building Good rapport with the German Chancellor Internationally, Germany is the key provider of high-end technology and has surplus capital investment. Even for the National Mission for Clean Ganga (NMCG), we can learn a lot from the river Rhine experiment; In Partnership with France, India has established the International Solar Alliance with head office in Gurugram (Haryana). This alliance has the membership of 120 countries for better harnessing of the solar power potential. Modi ji's reconnecting to Central Asia is crucial; Uzbekistan has strong cultural ties. Turkmenistan is rich in energy there is huge hydro potential in Kazakhstan and Tajikistan has historical significance.

Arica offers India a massive opportunity to expand its global economic footprint. The continent is an important market for the Indian economy. The 54 African states have a combined GDP which is slightly larger than that of India. The third India Africa Summit in New Delhi in November 2015 had a focus on this engagement. Another important visionary step was leveraging powerful Indian diaspora across the world, in the process empowering them in their own countries, as well as coordinating with them for advocacy and influence for better diplomatic and economic relations with India PM Narendra Modi’s visit to United Arab Emirates (UAE), Seychelles, Mongolia, and Fiji has given fillip to Indian exports, Direct connect with  NRIs was very innovative, the first such gathering of 15000 NRIs was at New York’s iconic Madison Square Garden in Beijing he attracted a crowd of about 5000 people at Wembley Stadium over 60000 people gathered, Similar was the case in Australia, Inward remittance flows to India, according to the World Bank, totaled S72 billion in 2015, Making India the largest remittance-receiving country which is about half of our current account deficit. 

Some positive results of Foreign Policy initiatives India is the world’s top destination for FDI flows in 2015, helping overcome many of its key growth constraints, particularly technology, energy, and infrastructure attracting investment commitments of close to S20 billion from foreign investors. In 2014 India’s total exports were 20.7 percent and imports were 25.2 percent of GDP. Total trade was 46 percent of GDP, suggesting a moderate degree of integration with the rest of the world. India plans to double its aggregate global trade over the next decade. Our target for 2019 is to become the top start-up destination in the world, achieve a top 50 ranking in the global ease of doing business, achieve 60 percent digital penetration, and increase the share of manufacturing from 16 to 25 percent of GDP by 2022.

Currently, complex project financing services are undertaken abroad. We have to develop the capacity to perform international financial services domestically by introducing some innovative Structured Financial Products. Recently The Reserve Bank of India (RBI) has introduced ‘Masala bonds’. We have been strengthening the institutional structure for both commercial and strategic engagement with the rest of the world. India has been advocating governance reforms in the International Monetary Fund (IMF), The World Bank, the Asian Development Bank, the African Development Bank, and the inter-American Development Bank An ongoing negotiation for the Regional Comprehensive Economic Partnership (RCEP) is a case in point. The Minister of Commerce has merged two bodies that handle anti-dumping and import safeguard actions in the Director General of Trade Remedies (DGTR) for improved and coordinated negotiations. India’s vigorous quest for Nuclear Suppliers Group (NSG) membership and becoming a member of the Missile Technology Control Regime (MTCR) are also very significant. Modi ji has been leading the international debate on many issues- tax information exchange, transparency, corruption we were mostly defensive earlier at the G20 summit, He said, that G20’s efforts should be for zero tolerance for corruption and black money. Zero barriers and full commitment to action.

Fitting corruption black money and tax evasion were keys to effective financial governance. We need to eliminate safe havens for economic offenders, track down and unconditionally extradite money launderers, and break down the web of complex international regulations and excessive banking secrecy that hide the corrupt and their deeds, “PM Modi said. This is the position of strength that we have gained at international forums. 

वर्तमान परिपेक्ष्य में व्यक्ति एवं सामाजिक जीवन में गौसेवा का महत्व

प्रिय बन्धुवर,

सादर प्रणाम

देश में एक बहुत बड़ा वर्ग है जो गौसेवा के लिए समर्पित है और यह धार्मिक दृष्टिकोण पर आधारित है, और दूसरी तरफ कुछ लोगो का मत आर्थिक दृष्टिकोण पर है। इस विषम परिस्थिति का सामंजस्य परिपक्वता से ही होता है जिसमें वैचारिक समरसता की आवश्यकता है। यह सक्षम सामाजिक नेतृत्व द्वारा ही संभव है। जितना इस विषय का राजनितिकरण होगा उतनी ही समस्या और उलझ जाएगी।

पहले कुछ बौद्धिक एवं मीडिया के लोगो ने राजनेतिक उदेश्य से गौसेवा और दलितों के एक वर्ग के कार्यो में विरोधाभास के भावों को उजागर करने का प्रयास किया जिसका दूरगामी परिणाम घातक है। समाज के ज्यादातर कार्यों एवं क्षेत्रों में कुछ न कुछ विरोधाभास तो अवश्य होते है। समाजशास्त्रियों को चाहिए कि इन्हें समन्वित कर के सभी के लिए साथ चलने का मार्ग प्रशस्त करें।

इन्हीं परिस्थितियों का परिणाम हमें नोएडा में भी देखने को मिला। जिसके तहत कुछ पत्रकारों ने विशेषकर दैनिक जागरण के प्रत्रकार ने गौशाला की कुछ समस्याओं को गलत ढंग से पेश किया। समस्याएं अपनी जगह ठीक है। गौशाला प्रबंधन उनका निस्तारण करने में प्रयासरत है। प्राधिकरण भी यथायोग्य सहयोग कर रहा है। हमें विश्वास है कि हम अपने गौसेवा के उद्देश्य में बिना विचलित हुए आगे बढ़ते रहेगें।

आपका सहयोग एवं मार्गदर्शन हमें सतत आगे भी प्राप्त होता रहेगा।

नोएडा प्राधिकरण बाडों से निकले गोबर, गौमूत्र और गंदे पानी के निकासी के लिए नीलियों का निर्माण कार्य शीध्रता से संपन्न करेगें। गौशाला में रोज निकलने वाले गोबर के निस्तारण का भी आश्वासन पाधिकरण ने दिया है। बाडों के बीच में कच्ची मिट्टी पर इंटरलाकिंग टाईल्स भी लगाने का हमने उनसे निवेदन किया है और तालाब की खुदाई भी करवाना है। हमलोग अपनी तरफ से भी इनसभी कार्यो को आगे बढाएगें।

गोपाल कृष्ण अग्रवाल

BJP Welcomes New FDI Policy of the Modi Government

Opening of FDI in key sectors like pharma, defense and civil aviation will give big boost to the economy by fulfilling capital requirements of the industry and help in job creation through manufacturing in these sectors.

In defense it will help in promotion of exports and self reliance in defense procurement.

In Pharmaceuticals industry which is already catering to African continent and many other third world countries and has also setup its base in US and European nations, it will help in building the multinational character for the industry.

In civil aviation the government has recently announced new civil aviation policy. The policy identifies around 350 places for setting up civilian airports, providing air connectivity. With the opening of FDI in civil aviation, several brownfield airports will start operations, increasing air connectivity network throughout the country. We already have good connectivity through roads, railways and water ways, this additional air connectivity will catelize large scale economic activity throughout the country.

Our farmers in the rural area need alternative employment opportunity and enhancement of their income. Further capital and technology is animal husbandry will help in enhancing income of the rural economy.

There are some reservation with regard to FDI in single and multi brands retail sector but these apprehension be well taken care off.

We already have strong FDI flows of more than $ 55 billion in 2015-16, up from $ 36 billion in 2013-14. By simplification and opening up of the FDI in these sectors, government is set to boost FDI flows further. At present we have large quantity of FIIs inflows which is hot money, with the increasing proportion of FDI’s inflows, the quality of money invested in India will improve.

For India to open up for economic development a proper ecosystem has already been put in place by the government. We now have a strong foundation of robust economic parameters like low inflation, stable currency, large foreign exchange reserves and transparent, corruption free and responsive governance.

It is not without reason that India is now the fastest growing economy of the world and is attracting the highest FDI. All because of the focused and committed approach of the Modi government for all round economy of the country. Over the last two years we have seen that there is a new initiative by the Prime Minister at regular intervals.

Gopal Krishna Agarwal

National Spokesperson BJP

gopalagarwal@hotmail.com  

Laying Foundation For a Better tomorrow

Gopal Krishna Agarwal,

National Spokesperson on Economic Affairs, BJP

 Prime Minister Narendra Modi's recent trip to America has elevated Indo-US ties to new heights, especially economic partnership. The confidence exhibited at the India-US business conclave earlier this week is a case in point.

His government has recently completed two years in office. Going by the reports of various international think tanks and international institutions, the Modi government has set India on the fast track to growth by introducing a raft of measures to boost the economy.

Recent data from the Central Statistical Organisation (CSO) points towards the fact that the Centre's focused approach over the last two years is bearing great results. Some people have expressed their reservations on these economic growth figures. But apart from a few well-reasoned arguments, most of the criticism is politically motivated. It should be borne in mind that the GDP now is being calculated using the globally accepted Gross Value Added (GVA) method.

With the growth rate nearing 8 percent in the last quarter of 2015-16, there is no doubt that the economy, which was left in complete shambles by the previous UPA government, is on the fast track to recovery. All fiscal parameters are on target, whether it is revenue collection or expenditure or fiscal deficit at 3.9 percent of GDP.

Per capita income has also risen to Rs 93,293 from Rs 86,879 last year. Experts believe that the economy could grow in the range of 8-8.2 percent in 2016-17. This would be backed by agriculture sector growth surpassing the 3-4 percent mark depending on the monsoon.

All these achievements are the result of the Modi government's tireless efforts. Flagship initiatives like UDAY, PAHAL, and renegotiating Mauritius tax treaty, the revival of held-up projects in roads and rural infrastructure, are showing extremely encouraging results.

These initiatives have created the requisite infrastructure and demand in the economy to attract domestic and foreign investment. Corruption-less and transparent governance in the last two years has added more than Rs 4 lakh crore to the government treasury on account of spectrum allocation, coal block, and mineral auctions, etc.

1 would like to highlight some of the key areas of focus for the government. The first focus is towards dealing with corruption and crony capitalism. Over the past 20 years, the world has been reeling under the thumb of crony capitalists. To the uninitiated, crony capitalism is a nexus between businessmen, obliging bureaucrats, and politicians. It undermines the state, distorts resource allocation and is against the spirit of equal entrepreneurship opportunities.

Through a fair judicial system, efficient regulation and transparency in political funding, one can bring positive results over a long period of time. Immediate steps to tackle this menace include the careful and transparent process of transfer of government resources into private hands, management of state-owned banks, especially their debts and NPAs, control of parking and stashing of illegal money abroad.

On this count government has been very focused and successful in its approach. In its recent edition, The Economist stated: "Encouragingly, India seems to be cleaning up its act. In 2008 crony wealth reached 18 percent of GDP, putting it on a par with Russia.

Today it stands at 3 percent, a level similar to Australia. A slump in commodity prices has obliterated the balance sheets of its wild west mining tycoons. The government has got tough on graft, and the central bank has prodded state-owned lenders to stop giving sweetheart deals to Moghuls. The pinups of Indian capitalism are no longer the pampered scions of its business dynasties."

A point of caution is that we have to be very careful with the public-private partnership model. Under this system, crony capitalists have devised a mechanism of transferring government resources in a non-transparent manner. A case in point is the DND project in Noida.

The second important issue is the management of overall debt. The world has been witness to China's financial problems and its debt bust. The Chinese Debt/GDP ratio has increased to 260 percent from 150 percent in a decade. The latest issue of Economist says that its problem loans have doubled in two years.

Hungry for profits in a slowing economy, plenty of Chinese banks have miscategorised risky loans as investments to dodge scrutiny and lessen capital requirements, according to The Economist. "These shadow loans were worth roughly 16 percent of standard loans in mid-2015, up from just 4 percent in 2012."

There are many lessons India could learn from China. The Modi government has learned them well. Instead of pushing the problem under the carpet, the Modi government has tackled it head on. The ongoing clean-up of bank balance sheets will help spur economic growth and improve the lenders' profitability. "Prompt actions are being taken on willful defaulters," said Jayant Sinha, Minister of State for Finance.

"One of the key considerations in a situation like this, the banks should be empowered and consequently protected so that they can bring about prudent settlements," said Union Finance Minister Arun Jaitley. "The overall operational profit of public sector banks last year was quite significant. It was in excess of Rs 1.4 lakh crore. It is on account of provisioning that the overall the PSBs declared a net loss of Rs 18,000 crore

The government has already enacted the Bankruptcy and Insolvency Code. Another set of amendments to the debt recovery legislation and securitization legislation are before Parliament. The government is also considering setting up of Stressed Asset Management Funds.

The focused approach is not limited to empowering and supporting banks to deal with NPA menace, but the government agrees that the bad loan situation has also arisen on account of certain sectoral stresses like held up road construction, blocked environmental clearances, and dumping, among others.

The government is doing everything to restart held up projects, clearances, anti-dumping measures and do away with policy paralysis. The government has gone even further ahead and implemented the recommendations of the Nayak Committee Report like the setting up of a Bank Board Bureau.

The third important initiative is the ease of doing business. These initiatives have helped in catalysing private investments. Some of the initiatives include easy exit policy for genuine investors, repealing of about 1000 redundant laws and more to come, faster and transparent project clearance policy and better dispute resolution mechanism in the tax department where thousands of crores of individual and government resources are blocked.

There has been a reduction in the cost of collection of direct taxes from 1.36 percent in the year

2001-2 to 0.59 percent in 2014-15. The government has also initiated premature retirement and the removal of inefficient and corrupt employees from various departments. And finally, targeted and focused approach to ending corruption and black money, giving one-time compliance window to declare illegal foreign and domestic assets.

Some areas, which require flagging for the future, are labor reforms, disinvestment reforms, especially for loss-making PSUs, lowering of interest rates as demanded by business community with inflation, particularly of food items looming large, and land acquisition issues and above all the passage of the Goods and Services Tax Bill.

Narendra Modi's philosophy of economic development is growth through empowerment. The government has not only been successful in generating resources for the benefit of the weaker sections but also spending this money to reach the target beneficiaries in a transparent manner.

With the use of JAM and direct benefit transfer (DBT), the government has plugged leakages and created additional revenue for social security. The government has given them social security and also generated widespread demand to boost the economy. The resources at the command of the government are being utilized to build rural infrastructures like toilets in rural areas, electricity to each and every household, housing for by 2022, irrigation and rural roads.

Employment opportunities for the weaker sections are being enlarged through Skill India, Startup India Stand-up India and by easy access to loans under MUDRA Bank. The real game changer in the near future will be the doubling of farmers' income through reduced cost, better national market access facilities, risk mitigation through user-friendly crop insurance cover, soil health card, efficient irrigation like drip irrigation, neem coated urea and digitization and reforms of land records, etc.

Truly this government is focusing on the development of all sections of the society across cast, creed, religion and geography. As a result of this focused approach, India has become one of the fastest-growing major economies in the world and has been able to attract largest Foreign Direct investment (FDI). We are sure that the government will not sit on its laurels. There is much more in store.