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By Pratap Chandra Sarangi (Minister of State for Micro, Small and Medium Enterprises and Animal Husbandry, Dairying and Fisheries)
Under the able and visionary leadership of Prime Minister Narendra Modi, the government is continuing to script glorious success stories to build a new India, which is inclusive and progressive, bold and confident and above all determined and focused to lead the countrymen on the path of resurgence. After years of inertia and sluggishness during Congress rule, the country has been experiencing great new momentum in rediscovering its own destiny. Youth are upbeat with new vigour and enthusiasm; women and other poor and vulnerable sections are leading a life of dignity and honour; minorities are feeling reassured of their rights and privileges; the professionals and entrepreneurs are reaping the benefits of an expanding economy and above all the common man is living with pride and optimism.
“SabkaSaath, SabkaVikash and SabkaVishwas” philosophy of the Government has been at the core of this astounding success story.
The strong edifice for building this new India could be possible only with a resurgent economy. Though the economy is showing signs of temporary slow down due to cyclical effects certainly it has the innate capacity to recover and rebound. Today, India continues to be one of the fastest-growing economies in the world - well on its path to become US Dollar five trillion economies by 2024 as envisioned by Prime Minister. The Government is committed to building a beautiful architecture of a new resurgent economy with a congenial enabling ecosystem in place.
The World Bank Ease of Doing Business Report now places India at 63 among 190 countries which is almost a quantum leap of 67 ranks in the last three years. This is the highest jump in the ranks by any country since 2011. It has also acknowledged the steady progress of India by placing it in the top ten improvers for the third time in a row. The Government has been focusing to ensure that the high trajectory is maintained in tax revenue through and through. Export orientation and import substitution with a focus on employment growth are at the core of the Government's focus. The Government has launched a new Export Credit Insurance Scheme called "NIRVIK" for exporters. All these bear testimonies to the fact that the economy is on a firm path to ensure the prosperity and well-being of the people.
The government is well aware that new entrepreneurs are the main harbinger of economic prosperity in any country. The initiatives taken by the Government to boost the start-ups have shown 21,778 start-ups being recognized under the Start-up India initiative scheme. The efforts of the Government to protect the interest of domestic producers and encourage manufacturing at home have been unparalleled. So much so that the Government led by the Prime Minister successfully laid out India's stand-in Regional Comprehensive Economic Partnership (RCEP) as the country's key concerns remained unaddressed.
The Government has also been focusing on the MSME sector which is the backbone of any economy. A number of handholding support given to the MSMEs through provisioning of access to credit and market has got salutary impact on the growth of the MSME sector. Ensuring sanctioning of bank credit within 59 minutes to MSMEs and GST refunds within 60 days from the date of application has been truly revolutionary.
Prime Minister Narendra Modi believes in holistic growth. Our special focus has always been on the farmer’s welfare and growth. Doubling farmers’ income has been the renewed focus of the Government, for which higher Minimum Support Price has been fixed besides other comprehensive measures being taken in Fisheries, Animal Husbandry, and Dairying sector.
The growth story of India has been duly acknowledged and recognized by the global community. The world looks up to Narendra Modi as a global leader of great standing. Such is the aura and mesmerizing grace of the Prime Minister that the people are fortunate enough to bask in his reflected glory and the country is in the best of hands, fully assured of reaching the zenith of prosperity in the coming years.