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50 Days of Modi 2.0: NDA’s Second Term Indicates Huge Transformation For Next 5 Years
Read to know why the first 50 days of PM Modi's second term is considered to be transformative for the next five years in India.
New Delhi: Prime Minister Narendra Modi has entered into a hectic pace ever since he has taken charge as the country’s Prime Minister for the second consecutive term on May 30. In the first 50 days of Modi 2.0, the country has witnessed developments in a wide range of fields starting from domestic to international relations, from farmers to traders and from start-ups to industries.
Multiple manifesto promises such as pension schemes for farmers, small traders and unorganised workers, an extension of PM-KISAN to all farmers and setting up of a Jal Shakti ministry have already been fulfilled.
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Here are some of the indicators that will ensure a huge step up for India in the next five years:
Tainted bureaucrats removed:
Surgical strikes against corruption in the form of removal of tainted bureaucrats across many departments have happened, along with a cleanup of Jammu and Kashmir Bank, the key to security in the state. On June 18, the Finance Ministry’s Revenue department issued a statement ordering the compulsory retirement of 15 officials. The retirement was ordered under Rule 56 (j) of the General Financial Rules of Central Government Services. This was the second major crackdown by Modi government 2.0 within a week of coming into power against bureaucrats and officials indulging in alleged corruption practices.
Budget $5 trillion economy:
The budget has catered to every section of society. Presenting the first Budget of the Modi government in its second term, Finance Minister Nirmala Sitharaman said that the Indian economy, which stood at USD 1.85 trillion five years ago, has currently reached USD 2.7 trillion, and is within the capacity to reach USD 5 trillion in the next few years.
Besides laying a roadmap for doubling farmer income, the budget also talks of electric vehicles and the mission of taking electricity and cooking gas to every home. There is also the end of angel tax and the beginning of a faceless, seamless tax assessment interface. Moreover, the ‘Naari Tu Narayani’ focuses on urban development and a renewed Gram Sadak Yojana.
Modi government has also devised Labour reforms and stronger laws against frauds who dupe the poor. To curb cases of child sexual assault, the death penalty has been imposed. Most of the measures taken by the government are pro-people in the last fifty days.
Prime Minister Modi was one of the most sought-after leaders for pull-aside meetings in the recent G20 Summit. He held bilateral and plurilateral meetings with many leaders, including US President Donald Trump, Russian President Vladimir Putin and China’s Xi Jinping. The topic of the G20 Summit was ‘Human-Centred Future Society’. This was Modi’s sixth G20 Summit which was held on June 28-29 in Japan’s Osaka.
Prime Minister Modi strongly articulated India’s position against terror at the SCO Summit in Bishkek of Kyrgyzstan. During the 19th Shanghai cooperation organisation or SCO summit, India sought global cooperation on the issue of terror and raised issues on trade and connectivity. This was also Modi’s first multilateral engagement post his re-election.
Besides, Modi also visited Sri Lanka and Maldives and showed his strong belief in Neighbourhood First policy.
International Yoga Day:
PM Modi also led the world in celebrating International Yoga Day on June 21. He later thanked the world leaders for their enthusiastic participation in the fifth International Day of Yoga.
A 25 per cent corporate tax has been fixed for companies with an annual turnover up to Rs 400 crore. Earlier, the threshold used to be Rs 250 crore. This will cover 99.3 per cent of all companies.
Besides, the government has decided to set up Credit Guarantee Enhancement Corporation (CGEC) in 2019-20 to deepen markets for long-term bonds with a specific focus on the infrastructure sector.
Moreover, a total sum of Rs 350 crores has been allocated towards the GST-registered MSMEs for FY 2019-20 for 2% interest subvention on fresh or incremental loans.
If the first fifty days are an indication, then Modi 2.0 will be a transformative five years for India.