Key achievements(May 25, 2015,16 ) of Narendra Modi Government by GovtExams.co.in which are as listed below
- New law against back money, old 500 and 1000 notes are banned and release new 500 and 2000 notes(November 2016).
- Narendra Modi Government Jan Dhan Yojana It’s more than 15 crore bank accounts opened. Over 10 crore RuPay debit cards issued, with life cover, pension for financial inclusion.
- Corporate sector adopts prime minister’s ‘Swachch Bharat’ mission with promise of total sanitation by 2019. It is started to see that health and hygiene issues of the poor do not affect the working capacity and output of the poor and laborers.
- Cooking gas now under direct-cash-benefit transfer scheme, with potential saving of $5 billion annually in subsidies, plus Diesel prices deregulated.
- Narendra Modi (government) Foreign equity in rail infrastructure allowed, without limit and also The Indian Railways, on which the common man travels, is being changed for the better.
- Foreign equity cap in defense raised to 49 percent to 74 percent in case of technology transfer.
- Fast-tracking of defense purchases 36 Rafale fighters being bought, orders for several long-pending purchases placed.
- Foreign equity cap in insurance and pension sectors increased to 49 percent overall.
- Nod for IPOs/FPOs by banks to raise funds, as long as government equity remains 52 percent or over
- Nod for real estate and infrastructure investment trusts, with tax benefits.
- Cabinet nod for Prime Minister’s 100 Smart Cities Project.
- $130 billion proposed spending on railways over five years on schemes including high-speed trains.
- Definitive steps forward in introducing pan-India goods and services regime.
- Successful conclusion of two rounds of coal block auctions, more lined up.
- Impasse in mining sector ended with passage of new bill for regulation and development.
- Successful conclusion of auctions for telecom spectrum for mobile telephony and broadband.
- Launch of ‘Make In India’, ‘Digital India‘ and ‘Skill India‘ initiatives with focus on defence and electronics, primarily to create jobs.
Another Points of achivements
- Mudra bank launched with Rs 20,000 crore corpus to extend loans of between Rs 50,000 and Rs 10 lakh to small entrepreneurs 61% of whom are SCs, STs, OBCs and Minorities.
- Commencement of divestment programme in public sector companies.
- Disbanding of various ministerial groups for faster decision-making.
- Adoption of 14th Finance Commission recommendation on far-reaching changes in sharing of revenues between the center and the States.
- Single-window scheme for various clearances to steel, coal and power projects.
- Price stabilization fund set up for agri-commodities to check inflation.
- Warehouse Infrastructure Fund with Rs 5,000 crore corpus to increase shelf-life of farm produce (replace if possible).
- Clarity in tax treatment on income of foreign fund whose fund managers are located in India , as also on transfer pricing for resident and non-resident tax payers.
- Panel set up under law commission chairman on issue of minimum alternate tax.
Some Other Achievements of Narendra Modi Government
- In the very initial months of our Government, we took up the task of providing toilets in all schools. Don’t children of the poor study in these public schools?
- The so-called pro-poor have been just repeating that there is leakage in subsidy. So we used technology to ensure that LPG subsidy reaches the targeted person directly.
- We have launched the Pradhan Mantri Krishi Sinchai Yojana which the Congress did not think of in sixty years.
- They planned to see that by 2022, no family remains without a roof over its head.
- The Soil Health Card scheme has been launch to enhance farm productivity and reduce expenses, thereby enhancing the farmer’s income.
- We have come out with a comprehensive social security scheme for the poor and marginalised old and those with low-income levels.
- We provided for reservation of women in the police forces of Union Territories. This was done even when there were no elections around the corner.
Finally we can say that to Increase government spending on various schemes need to find innovative ways.
- Promote ease of doing business, action awaited to club together some 35 central laws pertaining to labor into just four new legislations.
- Challenges in agriculture remain, notably in ushering a second Green Revolution to enhance productivity further.
- – Create a national common market for farm commodities and Agricultural Produce Market Committees should be just one among numerous options to sell farm produce.
- Public Sector Banks need a combination of fresh capital infusion, consolidation and freedom to hire talent and stronger mechanisms to address the issue of stressed assets.
- Issue of minimum alternate tax yet to be resolved for past cases.
So we can say that Narendra Modi recognized weaknesses in present public-private partnership model, the promised institution could be set up fast to remove impediments, notably the rigidness of contractual terms, and carving out of mechanisms for early redressal of disputes.