|
New Delhi: Prime Minister Narendra Modi said on Tuesday that India has emerged as the centre of global attention due to the innovative zeal of the country’s people as he listed the reforms undertaken by his government, especially this year. “Today, the world sees India with hope and confidence. They appreciate the manner in which the pace of progress has been accelerated with next-generation reforms, which are cross-sectoral and amplify the nation’s growth potential,” the Prime Minister wrote in an article published on LinkedIn. “I have been telling many people that India has boarded the Reform Express. The primary engine of this Reform Express is India’s demography, our young generation, and the indomitable spirit of our people,” he said. PM Modi further stated that 2025 will be remembered as a year for India when it focused on reforms as a continuous national mission, building on the ground covered over the past 11 years. The country modernised institutions, simplified governance, and strengthened the foundations for long-term, inclusive growth. “We moved ahead decisively…with higher ambition, faster execution and deeper transformation. The reforms have been about enabling citizens to live with dignity, entrepreneurs to innovate with confidence and institutions to function with clarity and trust,” he said. Citing a few examples of the reforms that his government has undertaken, PM Modi said that GST 2.0 has been implemented as a clean two-slab structure of 5 per cent and 18 per cent. This has eased the burden on households, MSMEs, farmers and labour-intensive sectors. The purpose is to ensure dispute reduction and better compliance. This reform has boosted consumer sentiment and demand. Sales have grown in the festive season, he pointed out. Citing other decisions, he said that, in a first, individuals earning up to Rs 12 lakh a year faced no income tax at all. The obsolete Income Tax Act of 1961 has been replaced with the modern and simple Income Tax Act, 2025, bringing unparalleled relief for the middle class, the Prime Minister observed. Together, these reforms mark India’s move towards a transparent, technology-driven tax administration, he added. Mentioning the reform boost to small and medium businesses, the Prime Minister highlighted that the definition of “small companies” has been expanded to include firms with turnovers up to Rs 100 crore. This will result in reducing the compliance burdens and associated costs for thousands of companies. The reform to permit 100 per cent FDI in Indian insurance companies will give a fillip to insurance penetration and security for the people. Apart from enhanced competition, it would offer better insurance choices and improved service delivery for the people, he contended. PM Modi further stated that the Securities Market Code Bill has been introduced in Parliament. It will enhance governance norms in the SEBI, also enhance investor protection, reduce compliance burden and enable a technology-driven securities market for a Viksit Bharat, he added. He also highlighted that in a single Parliament session, the Monsoon Session, five landmark maritime legislations were passed: the Bills of Lading Act, 2025; the Carriage of Goods by Sea Bill, 2025; the Coastal Shipping Bill, 2025; the Merchant Shipping Bill, 2025; and the Indian Ports Bill, 2025. These reforms simplify documentation, make dispute resolution easier and reduce logistics costs. Outdated Acts dating back to 1908, 1925 and 1958 have also been replaced, he said. PM Modi also drew attention to Jan Vishwas, which ended the era of criminalisation with the scrapping of hundreds of outdated laws. As many as 71 Acts have been repealed through the Repealing and Amendment Bill, 2025. He further highlighted that to boost ease of doing business, a total of 22 QCOs were revoked across synthetic fibres, yarns, plastics, polymers, and base metals, while 53 QCOs were suspended in various steel, engineered, electrical, alloy, and consumer end product categories, covering a broad spectrum of industrial and consumer materials. This will increase India’s share of apparel exports; lower production costs in diverse industries like footwear, automobiles, and ensure lower prices for domestic consumers for electronics, bicycles and automotive products, PM Modi said. Citing the historic labour reforms, PM Modi said labour laws have been reshaped, merging 29 fragmented laws into four modern codes as part of the reforms process. India has created a labour framework that secures the interests of workers while boosting the business ecosystem. The reforms focus on fair wages, timely payment of wages, smoother industrial relations, social security and safer workplaces. They ensure greater female participation in the workforce. Unorganised workers, including contract workers, are brought under the ESIC and EPFO, expanding the coverage of the formal workforce, PM Modi pointed out. The Prime Minister also highlighted the trade deals inked with New Zealand, Oman, and the UK. These will add to investments, boost job creation and also encourage local entrepreneurs. They reinforce India’s position as a trusted and competitive partner in the global economy. The FTA with the European Free Trade Association, comprising Switzerland, Norway, Iceland and Liechtenstein, has been operationalised. This marks India’s first FTA with developed European economies, he added. The Prime Minister also stated that the SHANTI Act is a transformational step in India’s clean-energy and technology journey. It ensures a strong framework for the safe, secure and responsible expansion of nuclear science and technology, and enables India to meet the rising energy demands of the AI era, like powering data centres, advanced manufacturing, green hydrogen and high-technology industries. It also promotes the peaceful application of nuclear technologies in healthcare, agriculture, food security, water management, industry, research and environmental sustainability, supporting inclusive growth and improved quality of life; opens new pathways for private sector participation, innovation and skill development; and creates opportunities for India’s youth to lead in frontier technologies and next-generation energy solutions, PM Modi said. This is an opportune moment for investors, innovators and institutions to partner with India, to invest, innovate and build a clean, resilient and future-ready energy ecosystem, he said. The Prime Minister further stated that Viksit Bharat- G RAM G Act, 2025, Rozgar Guarantee framework raises employment guarantee from 100 to 125 days. This will result in increased spending towards strengthening village infrastructure and livelihoods. The aim is to turn rural work into a means to ensure higher incomes and better assets. PM Modi also mentioned that the Education Reforms Bill has been introduced in Parliament, and a single, unified higher education regulator will be established. Multiple overlapping bodies like the UGC, the AICTE, and the NCTE will be replaced with the Viksit Bharat Shiksha Adhishthan. What makes the reforms of 2025 significant is not only their dimension but also their underlying philosophy. Our Government has prioritised collaboration over control and facilitation over regulation in the true spirit of a modern democracy, he observed. The Prime Minister further stated that these reforms were designed with empathy, recognising the realities of small businesses, young professionals, farmers, workers and the middle class. They were shaped by consultation, guided by data and anchored in India’s constitutional values. “These reforms are aimed towards building a prosperous and self-reliant India. Building a Viksit Bharat is the polestar of our development trajectory. We will continue pursuing the reform agenda in the coming years,” he added. The Prime Minister urged everyone in India and abroad to deepen their bond with the India growth story. “Keep trusting India and investing in our people!” he said. IANS |
