From Fragile Five to First Five

India, as one of the world’s largest democracies, has continuously evolved and sought progress under the leadership of various heads of State. However, one leader who has stood out in recent times for his profound impact is Prime Minister Narendra Modi.

In 2014, India was one of the world’s ‘fragile five ‘caught in high inflation, low GDP growth, policy paralysis, and endemic corruption. India was then the world’s tenth largest economy. From the fragile five to the first five is an accomplishment, especially given the two lost Covid-19 years and trade dislocations due to the Russia-Ukraine war.

Since assuming office in 2014, PM Modi has spearheaded numerous initiatives and implemented transformative policies that have significantly propelled India’s development across various sectors. First and foremost, one cannot overlook the advancements made in the economic sector during PM Modi’s tenure. His government has introduced several crucial reforms aimed at boosting economic growth, such as the Goods and Services Tax (GST) and the Insolvency and Bankruptcy Code (IBC). The implementation of GST has streamlined the tax structure and enhanced ease of doing business, thereby attracting more domestic and foreign investments. Additionally, the IBC has helped address the issue of non-performing assets, improving the overall health of the banking sector. As a result of these reforms, India’s GDP has witnessed steady growth, making it one of the world’s fastest-growing major economies.

During Narendra Modi’s tenure as the Prime Minister of India, some of his top achievements include:

Swachh Bharat Abhiyan: The Clean India Mission was launched in 2014 as a nationwide campaign to promote cleanliness and hygiene practices. This initiative has helped in building millions of toilets and creating awareness about sanitation.

Goods and Services Tax (GST): In 2017, the GST, a comprehensive indirect tax reform, was implemented to replace multiple state and central taxes. This has simplified the tax structure, reduced corruption, and promoted ease of doing business.

Digital India: The Digital India initiative aims to transform India into a digitally empowered society. It includes initiatives like the Bharat Net project for broadband connectivity, digital literacy programs, and various e-governance initiatives to enhance public services.

Pradhan Mantri Jan Dhan Yojana (PMJDY): Launched in 2014, PMJDY is a financial inclusion program that aims to provide access to banking services for all individuals. It has led to the opening of millions of bank accounts, particularly for marginalized sections of society.

Make in India: This initiative was launched in 2014 to attract foreign investment and promote domestic manufacturing. It aims to boost job creation, infrastructure development, and the overall growth of the manufacturing sector. These are just a few key achievements of Narendra Modi’s tenure as Prime Minister. There are several other initiatives and policies that have been successfully implemented during his leadership. Furthermore, PM Modi’s focus on infrastructure development has been instrumental in transforming India’s physical landscape. The flagship projects such as the Bharatmala Pariyojana, the Sagarmala project, and the Pradhan Mantri Awas Yojana (PMAY) have played a crucial role in providing better connectivity, promoting coastal development, and ensuring affordable housing for all. These initiatives have not only created millions of jobs but have also enhanced the quality of life and facilitated inclusive growth across the country.

In addition to economic and infrastructural progress, PM Modi has also prioritized social welfare initiatives, particularly aimed at providing financial inclusion by ensuring that even the poorest of the poor have access to formal banking services. Similarly, the Pradhan Mantri Ujjwala Yojana has significantly expanded access to clean cooking fuel for millions of women in rural areas, promoting both health and environmental benefits.

These schemes have demonstrated PM Modi’s commitment to uplifting the disadvantaged and empowering every citizen of India. Another area where PM Modi has showcased remarkable leadership is in crafting India’s foreign policy. He has played an essential role in strengthening India’s position on the global stage and forging strong alliances with countries worldwide.

Through initiatives like the ‘Make in India’ campaign and the International Solar Alliance, PM Modi has positioned India as an attractive investment destination and a global leader in renewable energy. His collaborative approach has garnered international admiration, further enhancing India’s stature in the world.

Now, when the country enters its Amrit Kaal, it sets an ambitious target to achieve a 47 trillion USD economy in 2047 when it completes its 100 years of independence. It is possible today because India tremendously transformed its economic development approach in the past 9 years.

In this Amrit Kaal, the Indian economy is so strong due to its unique governance of which no one would have ever imagined a decade ago. What has changed, is the leadership approach in the past 9 years. Despite these achievements, it is essential to recognize that there is still much work to be done.

Challenges such as poverty, unemployment, and gender disparity persist, requiring continuous efforts and effective policy implementation. However, PM Modi’s track record demonstrates his unwavering commitment to addressing these issues and leading India towards a brighter future. In conclusion, under the leadership of Prime Minister Narendra Modi, India has made significant strides in various fields.

His economic reforms, infrastructure development, social welfare initiatives, and foreign policy advancements have laid a strong foundation for India’s continued growth. Through his vision, determination, and tireless efforts, PM Modi has not only transformed India’s domestic landscape but has also elevated its global standing.

As India continues its journey towards prosperity, the impact of PM Modi’s achievements will undoubtedly be felt for generations to come.