NEW DELHI: Prime Minister Narendra Modi said India has become a global focus due to its people’s innovative spirit and a strong push for next-generation reforms. Writing on LinkedIn, he said India has “boarded the Reform Express,” driven by its young population and reform-oriented governance. He noted that 2025 will be remembered as a landmark year, building on reforms of the past 11 years to modernize institutions, simplify governance and ensure inclusive, long-term growth.
Key reforms include the rollout of GST 2.0 with a simplified two-slab structure of 5% and 18%, boosting demand and easing compliance; zero income tax for individuals earning up to Rs 12 lakh; and replacement of the Income Tax Act, 1961 with the Income Tax Act, 2025, creating a transparent, technology-driven tax system. The definition of small companies has been expanded to those with turnover up to Rs 100 crore, reducing compliance burdens, and 100% FDI in insurance has been permitted to improve coverage and competition.
The government introduced the Securities Market Code Bill to strengthen SEBI governance and investor protection, and passed five major maritime laws to cut logistics costs and replace outdated colonial-era Acts. Under Jan Vishwas, 71 obsolete laws were repealed to reduce criminalization. To improve ease of doing business, several Quality Control Orders (QCOs) were revoked or suspended, lowering costs and boosting exports.
Historic labour reforms merged 29 laws into four codes, improving worker security, wages, female participation and formal workforce coverage. India also signed trade agreements with New Zealand, Oman, the UK, and operationalized its first FTA with developed European economies under EFTA.
Modi highlighted the SHANTI Act to support clean energy and safe expansion of nuclear technology for AI-era energy needs, healthcare, agriculture and industry, with greater private sector participation. Rural employment has been strengthened through the Viksit Bharat–GRAM G Act, 2025, increasing guaranteed work from 100 to 125 days. In education, a single higher education regulator, the Viksit Bharat Shiksha Adhishthan, will replace multiple bodies.
He said the reforms prioritize facilitation over regulation, are empathetic and consultative, and aim to build a self-reliant, developed India (Viksit Bharat). Modi urged investors and partners worldwide to continue trusting and investing in India’s growth story. (IANS)
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