Prime Minister Narendra Modi pledged to unleash an “arsenal of reforms,” following on from his Independence Day announcement about the overhaul of the goods and services tax (GST) by Diwali and the passage of the Income Tax Bill, 2025, in the just-concluded Parliament session.
“It is not in my nature to be satisfied now that a lot of targets have been achieved. This is our thinking about reforms as well. We keep preparing for the future. We have to keep moving forward. I am going to come up with a new arsenal of reforms. We are working on several fronts for this,” Modi said in his address at The Economic Times World Leaders Forum in the Capital on Saturday.
The next-generation reforms will boost manufacturing, energise industry, boost consumption and increase jobs. Addressing an august gathering of industry captains, entrepreneurs and thought leaders, the Prime Minister underlined that, as part of this move, his government is repealing obsolete laws, simplifying rules and processes, making procedures and approvals digital, and decriminalising several offences.
PM Modi alleged that previous governments kept the people entangled in vote bank politics. They never looked beyond elections and were of the view that “cutting-edge technology” was the province of developed nations and that India would have to import what it needed. This was the reason why India was forced to lag behind several nations.
“We kept missing the bus,” the Prime Minister said. Now India is in position to “drive the bus.”
He reiterated his announcement that the next-generation GST reforms will be in place by Diwali.
“Missing the bus” happened in the case of the internet and communications technologies, he said.
“We were dependent on other nations for 3G, 4G. How long will we keep doing this?” Modi said. “So, in 2014, Bharat changed its approach. India decided not to miss any bus and will in fact sit in the driving seat. Hence, we have developed our whole 5G system in India. We built the 5G system very fast and distributed it across the country.”
Reforms are an integral part of government policy. “We are not here for incremental change but we are aiming to take a quantum jump. Reforms are not a compulsion for us, nor are they crisis-driven. It is our commitment, our conviction,” Modi said. The Prime Minister said that in the monsoon session of Parliament, his government’s commitment to reforms was visible when important legislation such as the Jan Vishwas Bill 2.0 was moved despite several hurdles created by the Opposition.
This will repeal 300 minor offences.
Atmanirbhar Bharat is the basis of Viksit Bharat, he said, adding that it’s based on three parameters—speed, scale and scope. Modi also cited EPFO data, which show that 2.2 million formal jobs were added in June alone, an all-time record.
“It is not in my nature to be satisfied now that a lot of targets have been achieved. This is our thinking about reforms as well. We keep preparing for the future. We have to keep moving forward. I am going to come up with a new arsenal of reforms. We are working on several fronts for this,” Modi said in his address at The Economic Times World Leaders Forum in the Capital on Saturday.
The next-generation reforms will boost manufacturing, energise industry, boost consumption and increase jobs. Addressing an august gathering of industry captains, entrepreneurs and thought leaders, the Prime Minister underlined that, as part of this move, his government is repealing obsolete laws, simplifying rules and processes, making procedures and approvals digital, and decriminalising several offences.
PM Modi alleged that previous governments kept the people entangled in vote bank politics. They never looked beyond elections and were of the view that “cutting-edge technology” was the province of developed nations and that India would have to import what it needed. This was the reason why India was forced to lag behind several nations.
“We kept missing the bus,” the Prime Minister said. Now India is in position to “drive the bus.”
He reiterated his announcement that the next-generation GST reforms will be in place by Diwali.
“Missing the bus” happened in the case of the internet and communications technologies, he said.
“We were dependent on other nations for 3G, 4G. How long will we keep doing this?” Modi said. “So, in 2014, Bharat changed its approach. India decided not to miss any bus and will in fact sit in the driving seat. Hence, we have developed our whole 5G system in India. We built the 5G system very fast and distributed it across the country.”
Reforms are an integral part of government policy. “We are not here for incremental change but we are aiming to take a quantum jump. Reforms are not a compulsion for us, nor are they crisis-driven. It is our commitment, our conviction,” Modi said. The Prime Minister said that in the monsoon session of Parliament, his government’s commitment to reforms was visible when important legislation such as the Jan Vishwas Bill 2.0 was moved despite several hurdles created by the Opposition.
This will repeal 300 minor offences.
Atmanirbhar Bharat is the basis of Viksit Bharat, he said, adding that it’s based on three parameters—speed, scale and scope. Modi also cited EPFO data, which show that 2.2 million formal jobs were added in June alone, an all-time record.
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