Since assuming office as the Prime Minister of India in 2014, Narendra Modi’s government has implemented several key policies that have had a significant impact on the nation’s development. This article aims to provide a comprehensive overview of some of the most notable policies introduced by the Modi government.
Demonetization
In November 2016, the Modi government made a bold move by announcing the demonetization of ₹500 and ₹1,000 currency notes. The objective was to curb corruption, black money, and counterfeit currency circulation. While the move faced criticism for its implementation challenges and short-term economic disruptions, it was seen as a significant step towards a cashless economy and formalizing the Indian economy.
Goods and Services Tax (GST)
The Goods and Services Tax (GST) was implemented in July 2017, replacing multiple indirect taxes with a unified tax structure. The GST aimed to simplify the taxation system, promote ease of doing business, and reduce tax evasion. Although its implementation faced initial challenges, the GST has streamlined the tax system, increased tax compliance, and facilitated interstate trade.
Pradhan Mantri Jan Dhan Yojana
The Pradhan Mantri Jan Dhan Yojana (PMJDY) is a financial inclusion program launched in August 2014. It aimed to provide access to banking services, insurance, and pension schemes to the unbanked population of India. Through this scheme, millions of people have been brought into the formal banking system, fostering financial inclusion and promoting saving habits.
Swachh Bharat Abhiyan
The Swachh Bharat Abhiyan (Clean India Mission) was launched in October 2014 with the objective of achieving a clean and open defecation-free India. This nationwide campaign aimed to improve sanitation, promote waste management, and enhance hygiene practices. The Swachh Bharat Abhiyan has led to the construction of millions of toilets, significantly reducing open defecation and improving overall cleanliness.
Make in India
The Make in India initiative was launched in September 2014 to encourage domestic and foreign investment in manufacturing and promote India as a global manufacturing hub. It aimed to boost job creation, increase the share of manufacturing in India’s GDP, and enhance the country’s competitiveness. The initiative has attracted investments and led to the growth of various sectors, including automobile, electronics, and defense.
Conclusion
Narendra Modi’s government has implemented several key policies that have aimed to transform various aspects of Indian society. From demonetization to the Swachh Bharat Abhiyan, each policy has contributed to the nation’s development and brought about significant changes. While these policies have faced their share of challenges, they have undoubtedly left a lasting impact on India’s growth trajectory.
