NEW DELHI, May 7: As one of the fastest growing economies in the world, India has reclaimed its pivotal position among the BRICS countries by taking several administrative and governance reforms while more such measures will be unveiled in the next four years by the NDA Government, Prime Minister Narendra Modi has said.
In an interview with the TIME magazine, Mr Modi said, in the last 10 months, the India has reclaimed its position in the BRICS (Brazil, Russia, India, China, South Africa). Internationally, whether it is the IMF, the World Bank, Moody’s or other credit agencies, they all are saying in one voice that India has a great economic future. It is progressing at a fast pace and has again become a factor of growth and stability in the International economy system. India is one of the fastest economies in the world, he said.
The Prime minister said the whole world is once again excited about India and the opportunities the country represents. Mr Modi said the biggest reform since India’s independence is coming up by way of the Goods & Services Tax which is expected to be rolled out from the fiscal 2016. He said another example of reform is increase in the foreign direct investment cap in the insurance to 49 per cent. This was stuck for the last 7-8 years and was not making any progress. We ensured that it was passed by Parliament within first year of our Government.
The Prime Minister said what his Government has done in the last one year is precisely as per the plan that was chalked out at the beginning of its tenure. And in the next four years, we have step-by-step measures that would unfold as we go along, he said adding that several focused administrative reforms have been initiated.
These include ease of doing business; making Government more accountable; technology and governance improvement and reforms at different levels of governance- state and local. We have essentially taken the reform process to an entirely different level where both the federal and state level respond through a policy based and administrative reform system, the Prime Minister said asserting that his Government is moving very rapidly to fulfill the expectations of people.
He said when his Government took over last year there was a popular perception that the corruption had spread in the system and nothing seemed to be happening besides it was believed there was no leadership and the Government at the centre was weak.
That was the context and background in which I was elected. My election, my Government’s coming into power last year in 2014 should be viewed in the context of development over the last 10 years. So you need to see 10 years of the last Government versus 10 months of my Government. (UNI)
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