PM launches National Portal for Credit Linked Government schemes - Jan Samarth Portal
“This is a moment to infuse the dreams of our freedom fighters with new energy and dedicate ourselves to new pledges”
“Increased public participation has given impetus to the development of the country and empowered the poorest”
“We are witnessing a new confidence among the citizens to come out of the mentality of deprivation and dream big”
“21st century India is moving ahead with the approach of people-centric governance”
“When we move with the power of reform, simplification and ease, we attain a new level of convenience”
“World is looking at us with hope and confidence as a capable, game changing, creative, innovative ecosystem”
“We have trusted the wisdom of the common Indian. We encouraged the public as intelligent participants in Growth”

Prime Minister Shri Narendra Modi inaugurated iconic week celebrations of the Ministry of Finance today. This week is being celebrated as part of the ‘Azadi Ka Amrit Mahotsav’ (AKAM) from 6th to 11th June 2022. He also launched the National Portal for Credit Linked Government schemes - Jan Samarth Portal. He also inaugurated a Digital Exhibition which traces the journey of the two Ministries over the past eight years. The Prime Minister also released a special series of ₹1, ₹2, ₹5, ₹10 and ₹20 coins. These special series of coins will have the theme of the logo of AKAM and will also be easily identifiable to visually impaired persons.

Addressing the gathering, the Prime Minister said whoever took part in the long struggle for independence, added a different dimension to this movement, and augmented its energy. Some adopted the path of satyagraha, some chose the path of weapons, some faith and spirituality, and some intellectually helped to keep the flame of freedom burning bright, today is the day when we acknowledge all of them.

Today when we are celebrating 75 years of independence, the Prime Minister stressed, it is the duty of every countryman to make a special contribution to the development of the nation at their own level. This is a moment to infuse the dreams of our freedom fighters with new energy and dedicate ourselves to new pledges, he said.

The Prime Minister noted that India has also worked on different dimensions in the last eight years. The public participation that increased in the country during this period has given impetus to the development of the country and empowered the poorest of the country's citizens. The Prime Minister remarked that Swachh Bharat Abhiyan gave an opportunity to the poor to live with dignity. Facilities like pucca houses, electricity, gas, water and free treatment increased the dignity of the poor and improved facilities. The scheme of free rations during the Corona period freed more than 80 crore countrymen from the fear of hunger. “We are witnessing a new confidence among the citizens to come out of the mentality of deprivation and dream big”, he said.

The Prime Minister said the country has borne the brunt of government-centric governance in the past. But today 21st century India is moving ahead with the approach of people-centric governance. He said earlier it was the responsibility of the people to go to the government for availing benefit of the schemes. Now emphasis is on taking governance to people and free them from the rigamarole of doing rounds of different ministries and websites. Launch of National Portal for Credit Linked Government schemes - Jan Samarth Portal is a major step in this direction. This portal will improve the lives of students, farmers, businessmen, MSME entrepreneurs and will help them in realizing their dreams, he added.

The Prime Minister said that any reform, if its objectives and goals are clear and there is seriousness in its implementation then good results are assured. The Prime Minister emphasized that the youth of our country have been kept at the heart of the reforms the country has undertaken in the last eight years. This will help them to show their potential. “Our youth can easily open the company they want, they can start their enterprises easily, and they can run them easily. Therefore by reducing more than 30 thousand compliances, abolishing more than 1500 laws, and decriminalizing several provisions of the Companies Act, we have ensured that Indian companies not only move ahead but also achieve new heights”, he added.

The Prime Minister said that the in reforms Government is focused on simplification. GST has now replaced the web of many taxes at the centre and the state. The country is also seeing the result of this simplification. Now it has become normal for GST collection to cross one lakh crore rupees every month, he said. He said that the GeM portal has brought in new ease for procurement in government and made selling to the government very easy. Purchase figure for the portal has crossed 1 lakh crore, the Prime Minister informed. He also talked of portals that are bringing ease of doing business. He talked about Invest India Portal for information regarding investment opportunities, Single window clearance portal for business formalities. ‘In this series this Jan Samarth Portal is going to help the nation's youth and startup ecosystem’ the Prime Minister pointed out.

“Today when we move with the power of reform, simplification and ease, we attain a new level of convenience … We have shown in the last 8 years that if India collectively decides to do something then India becomes a new hope for the world. Today the world is looking at us not just as a big consumer market but looking at us with hope and confidence as a capable, game changing, creative, innovative ecosystem” , the Prime Minister said.

The Prime Minister said a large part of the world expects India to solve problems. This is possible because in the last 8 years we have trusted the wisdom of the common Indian. “We encouraged the public as intelligent participants in Growth. We have always found that whatever technology is deployed for good governance is not only adopted by people but also appreciated by them”, the Prime Minister said referring to the achievement of UPI.

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Bharat's Blueprint for Global Economic Leadership
December 30, 2024

India's journey as an economic powerhouse continues to capture the world's attention. Powered by a dynamic workforce, an entrepreneurial spirit, maturing capital markets, and a booming digital ecosystem, the nation has not only built a resilient economic model but has also emerged as a key player on the global stage. The year 2024 stands as a symbol to India’s remarkable achievements in economic resilience, strategic reforms, social development, and international partnerships.

A Rising Economic Superpower

India's economy has steadily gained recognition as a force to reckon with. According to Jefferies, India is on track to become the third-largest economy by 2027, a milestone driven by strengthening institutional frameworks and improved governance. Today, India is already the fifth-largest equity market, with projections suggesting that the nation will reach a market capitalization of $10 trillion by 2030. This upward growth underlines India’s transformation into an economic giant, fueled by strategic reforms and an unrelenting focus on innovation.

Governance Redefined: The PRAGATI Initiative

India’s governance model has also undergone a radical shift, setting benchmarks for proactive and accountable administration. The Pro-Active Governance and Timely Implementation (PRAGATI) initiative, backed by technology and the active involvement of PM Modi, has bridged long-standing gaps in federal and regional governance.

 PM Modi at the ‘PM Gati Shakti Anubhuti Kendra’

A collaborative study by Oxford University and the Gates Foundation highlights the success of PRAGATI in accelerating 340 stalled projects worth $205 billion. The initiative’s ability to fast-track critical projects after decades of delays exemplifies India’s commitment to efficient governance and accountability.

Thriving Amid Global Challenges

Despite an uncertain global economic environment, India continues to outpace other major economies in growth. The World Bank determines India’s resilience as it remains the fastest-growing major economy. Strategic free trade agreements (FTAs) have further bolstered this resilience, creating new opportunities in a changing global context.

In a historic move, India signed an FTA with the European Free Trade Association (EFTA), securing a binding commitment of $100 billion in investments and the creation of 1 million direct jobs. This landmark agreement has positioned India as a pivotal point for global trade and investment, reflecting its rising prominence in international markets.

A Services Factory to the World

India’s ascent as a global services hub is another remarkable achievement. Over the past 18 years, Global Capability Centres (GCCs) have propelled India’s rise in global services exports. Goldman Sachs reports that India’s share of global services exports climbed from under 2% in 2005 to 4.6% in 2023.

This transformation is complemented by India’s rise in innovation rankings. In 2022, the country jumped 14 spots on the Global Innovation Index (GII), reflecting its expanding influence in the global services and technology sectors.

 

PM Modi at the Robotics Gallery in the Science City, Gujarat

 A Data-Driven Future

India is also setting benchmarks in the data centre (DC) industry, a critical driver of the digital economy. According to a CBRE report, India leads the Asia-Pacific region (excluding China) with a DC capacity of 950 MW, projected to exceed 1,800 MW by 2026. The sector has attracted $40 billion in investments between 2018 and 2023, with Mumbai and Chennai accounting for 68% of India’s DC stock.

Additionally, Tier-2 cities like Kochi and Jaipur are emerging as new data center hubs, exemplifying India’s balanced approach to economic development across regions.

Human Development and Digital Transformation

Economic resilience is incomplete without social progress, and India has made remarkable strides in human development. The United Nations reports a surge in India’s gross national income (GNI) per capita by 6.3%, reaching $6,951 in 2022. Life expectancy has also risen significantly, standing at 67.7 years in 2022 compared to 62.7 years in 2021.

India’s digital revolution has played a pivotal role in uplifting millions out of poverty. As highlighted by the President of the UN General Assembly, approximately 800 million Indians were lifted out of poverty in the last six years through the expansion of digital infrastructure and access to smartphones. By prioritizing financial inclusion and digitalization, India has created a robust foundation for sustainable development.

PM with the beneficiaries of Pradhan Mantri Awas Yojana

 Swachh Bharat Mission: A Public Health Revolution

The Swachh Bharat Mission (SBM) has been a cornerstone of India’s social development, transforming public health outcomes. Since 2014, over 117 million toilets have been built with a public investment of ₹1.4 lakh crore.

PM Modi taking part in the cleanliness activities under the Swachh Bharat Abhiyan

A study published in Nature reveals that a 10% increase in district-level toilet access under SBM corresponds to a 0.9-point drop in infant mortality rates (IMR). The large-scale construction of sanitation facilities has helped avert 60,000–70,000 infant deaths annually, showcasing how targeted social programs can deliver significant public health benefits.

India's Journey: Pioneering Growth and Shaping a Global Future

India’s rise as an economic powerhouse is a symbol to its transformative journey of innovation, resilience, and inclusive development. Through strategic reforms, technological advancements, and focus on social progress, the nation has redefined its identity on the global stage.

From being a hub for global services to leading the digital revolution, India has emerged as a symbol of determination and forward-thinking governance. Initiatives like Swachh Bharat and PRAGATI not only showcase India’s commitment to improving lives but also inspire other nations to emulate its success.

As India strides toward its vision of becoming a developed nation by 2047, the foundation laid today promises a future marked by prosperity, inclusivity, and sustainable growth. The world is not just witnessing India's progress but is increasingly looking to it as a partner and pioneer for global challenges ahead.