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India witnessing massive growth in economy, changes visible on the ground: PM Narendra Modi at Republic Summit

PM Modi said, “When BJP came to power in 2014, India was sure that the country will not witness the transformation and that is now visible on the ground. The country is not witnessing change, we are doing great in terms of economy.”

Prime Minister Narendra Modi participated in the Republic Summit on 26th April 2023. Addressing the summit, he underlined the eagerness of India to transform as the summit’s theme was the time of transformation which refers to the Amrit Kaal that is between 2022 and 2047 – from the 75th anniversary of India’s independence to the centenary year of India’s independence. PM Modi said that the participation and contribution of every Indian are of utmost importance for realising the dream of a developed Bharat.

Prime Minister Narendra Modi started by praising the improved Hindi conversation skills of Arnab Goswami and congratulated Republic TV which is about to complete its six years soon. PM Modi also praised Republic TV for its commitment towards ‘Nation First’ despite various hurdles.

During his address, PM Modi recalled his previous address at the Republic Summit 2018 with the theme ‘India’s Moment’ and thanked the organisers for inviting him to the summit that revolves around the topic of ‘time of Transformation’. PM Modi said that the speed of expansion and development of the economy is one of the most important parameters to measure the transformation.

PM Modi said, “When BJP came to power in 2014, India was sure that the country will not witness the transformation and that is now visible on the ground. The country is not witnessing change, we are doing great in terms of economy.”

He said, “In the last 9 years, India took a leap from the 10th largest economy to the 5th largest economy, jumping to 3.5 trillion economy. And India did it despite the pandemic challenges. First order impact of any policy is visible. But second and third-order impacts of policies take time to manifest. We need to go back to a few decades to compare these policies. License Raj economy policy adopted after independence made the government a controller, prohibiting private players and MSMEs from flourishing.”

He added, “As a result, we went on to become poor. The second-order and third-order impacts of this policy were graver. It affected the manufacturing sector, reduced jobs, killed innovations, caused a brain drain and crushed entrepreneurial abilities in the country. We have prioritized not only first-order impacts but also focus on second and third-order impacts.”

PM Modi said, “In the PM Awas Yojana, we have given houses to 3.75 Cr families, half of which are registered in the names of women. This is the first impact. The schemes created employment opportunities in rural areas. Persons having their own house have different confidence. They tend to take risks. Recently, the MUDRA scheme completed 8 years. It has given more than 40 Cr loans. 70% of them are given to women. We are seeing a change in society due to these schemes which have ensured a strong role of women in the decision-making process of households. These are second and third-order impacts.”

PM Narendra Modi also underlined how first, second, and third-order impacts of the PM Swamitva Yojana. He said, “Property cards are given to people after resolving disputes. This not only empowered people holding their properties but also saved many efforts of policemen. Direct benefit transfer schemes ensured the security and dignity of the poor. Those who were referred to as the hurdle in development are now becoming wheels of development.”

Prime Minister Narendra Modi further said, “We have also changed the mindset of power. We have made a mindset of service. We have abandoned appeasement and focussed on the contentment of the people. We are working in the direction of prohibiting the poor from becoming poorer. For example, Ayushman Bharat Scheme saved 80000 Cr rupees for poor people so far. This is not the only scheme of this kind. There are similar schemes for insurance, accident cover, crop insurance, generic medicine, free vaccination, and food security during the COVID-19 pandemic. One Nation One Ration and Jan Dhan-Mobile Phone-Aadhar trinity is an important part of this shield. A recent paper from IMF has concluded that despite the pandemic, extreme poverty in India is on the verge of vanishing. This is the transformation that is brought through these schemes.”

PM Modi said, “I had once called MNREGA a live monument of the failure of UPA governments. Earlier, very few permanent assets were developed by spending money on MNREGA. After 2014, we made so many permanent assets through MNREGA including houses for the poor, livestock sheds, lakes, canals, etc. Also, we ensured that the people working in this scheme get their payments because we incorporated direct benefit transfers. This saved Rs 40000 Crores from going into the wrong hands.”

Exploring Atmanirbhar Bharat Abhiyan he said, “Earlier, it was a trend that any advanced technology would come to India after a few decades. We changed this trend. For this, we freed technology-related businesses from government clutches, focussed on developing technologies in India, and were involved in futuristic technology with a mission mode. Our advancements in 5G developing our own technology is its live example. No one can forget the vaccine story during the COVID-19 pandemic. Despite various speculations about getting vaccines from other developed countries, we chose to become self-reliant. I risked a big political capital while taking the decision of going for Made in India vaccine. I did it only for my countrymen. There were people who denied Made in India vaccine. I don’t know why these people were batting for foreign vaccines.”

Detailing India’s journey to become a digital economy, PM Modi said, “Our Digital India Mission is also a topic of discussion in the global diaspora. I have seen it in G-20. People even asked us “Do you want food or data?” But now, your bank is at your fingertips. There were some pseudo-intellectuals who asked how the poor will buy tomatoes and potatoes with digital payments, and how digital payments will take place at a fair in a rural area. Isn’t it happening on every tea stall now? It is benefitting people so much. Still, there are a few people who have problems with Modi.”

Emphasising on government’s strict approach against corruption, he said, “Let me tell you, this so-called dissent is because Modi closed the doors of corruption for some people. We have integrated an institutionalized approach against corruption. Why won’t they spew venom against me whose corrupt income is now stopped? For example, we have removed 10 Cr names of fake beneficiaries from various schemes for which Congress was giving money. These people were never born. We did this by giving constitutional status to Aadhar and then connecting it to Direct Benefit Transfer ensuring zero commission and zero corruption. This single step ensured transparency in dozens of schemes. Similarly, government procurement is also made transparent. The taxation system is also made faceless. Taxpayers will not come across any officer. GST is also prohibiting black income in many ways. We are working honestly. Therefore some people are aggrieved. They will blame me for this because they want to destroy the honest system once again. They are not succeeding in their plans because they don’t realize that they are fighting against a common man. Let all the corrupt and dynasty come together, I will not stop my work. I need your blessings countrymen.”

PM Modi concluded, saying, “If everyone puts his efforts into this Amrut Kaal, we will soon accomplish our dream of a developed Bharat. My best wishes to Republic for its upcoming global media network. An increasing number of honest Indians is a guarantee of Bhavya Bharat. Thank you.”

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