Ease of Living Becoming a Reality in the Lives of Millions of Indians

Published By : Admin | March 14, 2019 | 14:29 IST

“NDA Government is honoured to have undertaken numerous steps for the wellbeing of the middle class. From a friendlier tax system to better healthcare, quality education to more opportunities, no stone is being left unturned to ensure Ease of Living.”
- PM Narendra Modi

Higher cost of living, caused by rising rate of inflation, puts undue burden on the poor and middle-class population adversely affecting their purchasing power and savings. Modi government amended the RBI Act making the primary objective of the monetary policy to maintain price stability (“inflation targeting”), while keeping in mind the objective of growth.

Consequently, the average consumer price inflation (CPI) was 4.6% in the NDA era as compared to 10.1% during the UPA era - easing the burden on the poor and middle-class. In January 2019, India’s CPI based inflation eased to 19-month low of 2.05%.

Furthermore, higher indirect taxes are regressive as they cause higher prices of goods, burden of which ultimately falls on the people. Moreover, indirect taxes are borne by all, including the poorest of the poor. With GST reforms, indirect taxes have been rationalised making India ‘One Nation, One Market’. 95% of the items fall in or below 18% tax slab. Most common items of daily use are either exempt from GST or brought under the 5% tax slab.

Eating out is more inexpensive under the GST regime. Taxes that used to range anywhere between 15-20% earlier are a thing of history. Today, there is only a 5% GST on eating out.

With elimination of checkposts, trucks carrying goods are travelling faster, reducing logistics costs and delays. Small traders benefitted with the end of multiplicity of taxes while registration filing, assessment, refund are online under GST replacing inspector raj with a transparent system. Consequently, due to the GST reforms by Modi government, overall reduction of prices has ultimately benefited the end consumer.

The big move to ensure that people with net taxable income up to Rs. 5 lakh incur no tax liability, has benefited crores of taxpayers. Nowadays, getting an income tax refund is no longer a matter of years but of just a few days. Furthering the effort to Ease of Living, Modi government, as announced in interim budget, is working on giving refund in 24 hours. Easing the lives of taxpayers, 99.54 per cent of income-tax returns were accepted as they were filed in the current year.

Pension provides security in second innings of the life. The time taken for processing pension papers reduced with the simplification of pension claim procedure by Modi government. Jeevan Pramaan Aadhaar-linked Digital Life Certificates have provided Ease of Living to pensioners by doing away with requirement to be physically present before the certification authority. About 2.5 crore pensioners have availed this facility since 2014.

Efforts like Atal Pension Yojana, PM Vaya Vandana Yojana are steps taken for benefits to old age people with minimum investment, maximum benefits for Ease of Living.

Unlike earlier times, obtaining a passport is no more a hassle. There has been rapid increase in the number of Passport Service Kendras from 77 in 2014 to 490, which has made delivery of passport services easy and convenient.

Apart from these, with Digital India initiative and push for digital transactions, seamless transactions have eased the process of payment of utility bills and many different kinds of payments. For the first time, as on January 2019, the volume of UPI transactions crossed 672.75 million with an amount of more than Rs. 1.09 lakh crores transacted.

When a government caps cardiac stent prices and knee implants, slashing prices by 50-70%, it means more people can afford stents to tend to their ailing hearts and knees.

If generic medicines are available, sometimes at far lesser price than the market price across around 5,000 Jan Aushadhi stores, then the medicinal expenses of people vastly come down.

Home loans became much more inexpensive than before. For example, in November 2013, the SBI home loan interest rate was around 10.30%, which, in 2019 stands at around 8.5%. If you consider a home loan of Rs. 20 lakhs over 20 years, savings due to lower interest rates would be about Rs. 26,000 per year & about Rs. 5 lakhs over full tenure.

Similarly, even education loans have become more affordable.
Many people put their life’s savings into buying an apartment. Sometimes they ended up feel cheated by builders. Some builders would delay delivery or even change plans without consent. Real Estate Regulation Act – RERA, was passed to empower homebuyers and reform the real estate sector.

Now, builders are required to create a separate escrow account in which significant part of the amount received from the buyers will have to be deposited, thus ensuring that the money is not diverted elsewhere. The withdrawals will depend on the extent of work completion and will only be allowed to cover the cost of construction and the cost of land.

With aspirations of homes, education, health and an easier daily life being fulfilled, Ease of Living is becoming a reality in the lives of crores of Indians after the advent of the Modi government.

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୭୭ତମ ସ୍ବାଧୀନତା ଦିବସ ଅବସରରେ ଲାଲକିଲ୍ଲା ପ୍ରାଚୀରରୁ ପ୍ରଧାନମନ୍ତ୍ରୀ ନରେନ୍ଦ୍ର ମୋଦୀଙ୍କ ଅଭିଭାଷଣର ମୂଳ ପାଠ

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୭୭ତମ ସ୍ବାଧୀନତା ଦିବସ ଅବସରରେ ଲାଲକିଲ୍ଲା ପ୍ରାଚୀରରୁ ପ୍ରଧାନମନ୍ତ୍ରୀ ନରେନ୍ଦ୍ର ମୋଦୀଙ୍କ ଅଭିଭାଷଣର ମୂଳ ପାଠ
How Varanasi epitomises the best of Narendra  Modi’s development model

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How Varanasi epitomises the best of Narendra Modi’s development model
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"Building Atmanirbhar Bharat Through Comprehensive Job Creation"
February 24, 2024

One of the most effective pathways of aspirational and practical self-actualization for citizens of a nation is employment generation at scale and expanse. Prime Minister Narendra Modi’s government has been cognizant of this need and has moved the needle comprehensively so that job creation today is happening across the spectrum: in the formal and informal sectors, through direct and indirect opportunities, in conventional and unconventional fields, and via self-employment and the opening up of multiple avenues for gigs, start-ups and novel entrepreneurship.


Government Initiatives
If on the one hand, Bharat is seeing the exponential growth in the number of start-ups and a conducive environment has made it one that has the largest number of unicorns, on the other hand a record number of Mudra loans sanctioned have fuelled unprecedented women-led growth, and the Agniveer scheme that aims to recruit youth into the Armed services has seen adoption in record numbers. According to a Harvard University research, India is among the top quartile of fastest-growing countries till 2029 and is undergoing a historic transition towards becoming a more formalized and technologically advanced, digitally evolved nation.


In the three years between 2017-18 and 2020-21, total employment increased by 8.4 crore which is a manifestation of several key factors such as demonetisation, rationalisation of taxes, the introduction of the Goods and Services Tax (GST), digital inclusivity and digitisation of financial transactions, inclusion of skill development and vocational training in the National Education Policy, increasing the number of Industrial Training Institutes (ITIs), a fillip to the hitherto marginalized segments such as rural and tribal populace, and effective incentivization for a highly labour dominant unorganized sector. An example is how PM Street Vendor’s Atmanirbhar Nidhi (PM SVANidhi), has benefitted more than 56 lakh rehri or street vendors from June 2020 to November 2023.


Formalisation
Immense positive impact can be seen in the nation’s formal employment sector. India is the 5th largest economy in the world with 1.12 crore net additional employment created between 2015 to 2018. This is a result of the confluence of progressive, pro-industry policy decisions, leveraging of advancements in technology, reforms to ease business investment, and a focus on skilling. An example of how this translates on the ground is that with the PM MUDRA Yojana More than 15 crore people have been employed in the MSME sector out of which 3.4 crore are women.


In the IT Industry alone, around 20 lakh people have been employed between 2013-14 and 2021-22. Indirectly, about 6.24 crore jobs were created between 2014 and 2019 in India’s digital economy. When it comes to a boost in employment generation across sectors, let’s take the example of tourism – a revamped and increasingly attractive tourism and hospitality industry led to 1.9 crore indirect jobs being created in the tourism sector between 2017 and 2020. The overhaul in the hospitality sector has led to the creation of many such jobs directly, and indirectly; India is among the most visited countries in the world and has been experiencing a growing influx of tourists. This has led to business incentivization and a boost to local artisans, transport providers, and hotels and restaurants within the larger hospitality service industry. In Air transport alone, for every Rs. 100/- invested in the sector, 610 indirect jobs are generated.


Infromal Sectors
The winds of change can also be seen in the disruptive as well as informal sectors. Providing security and stability to the unconventional health and wellness, since 2014, about 5.65 lakh practitioners have been provided employment under Ayurveda, Yoga, Naturopathy, Unani, and Homoeopathy (AYUSH). The introduction of several new reforms, an increase in FDI, which have further helped in improving the ‘ease of doing business’ along with low data costs, improvised processes and ready adoption have created a thriving new ecosystem for employment – the gig and platform economy. Gig-economy jobs grew year-on-year by 13% and over 29.20 crore people have registered so far on the E-Shram portal. From 2016 to May 2022, ‘Hunar Haat’ has created employment avenues for over 10.5 lakh artisans and talented Vishwakarmas.


The continuing chain of beneficiaries in the government’s Gati shakti model include processes that act as catalysts for indirect job creation in sectors such as transport, logistics, mobility, food, consumer goods and manufacturing products. Up to 2021-22, 53,696 km of roadways were created which generated 21.8 crore man-days of employment. As mentioned before, round 6 crore people employed in unorganized sector between 2017-18 and 2019-20 have benefited from the SVANidhi Yojana – making PM Modi’s vision of Sabka Saath, Sabka Vikas, Sabka Vishwas aur Sabka Prayas a quintessential facet of employment for all.


People-first policies such as the flagship program for equitable housing, the PM Awas has created 2.39 crore indirect jobs up to 2022. Another great example of the ripple effect of employment generation can be seen in the form of Production Linked Incentive (PLI) schemes which enable the expansion of existing industries into larger ones, while promoting the creation of new ones. As an example, 5 lakh incremental jobs have been created in the mobile manufacturing sector due to PLI. As per the Economic Survey 2023, PLI schemes are slated to create 60 lakh jobs. In addition, India’s fintech adoption rate of 87% as against the world average of 64% has enabled the creation of an ecosystem that is touching the lives and livelihoods of all – including the self-employed and small business owners.


To this end, Rozgar Melas that aim to provide 10 lakh jobs in less than two years, and that meld employment opportunities and unique talent have been a boon for the economy. Rozgar Mela is a key step towards the fulfilment of the commitment to accord the highest priority to employment generation in the country. On 12th February, 2024, PM Modi distributed more than 1 lakh appointment letters to newly inducted recruits and also lay the foundation stone of Phase I of the Integrated Complex “Karmayogi Bhavan” to promote collaboration and synergy amongst various pillars of Mission Karmayogi. “Rozgar Melas are playing a crucial role in enhancing the contribution of our Yuva Shakti in nation building”, said PM Modi. Rozgar Mela will be held at 47 locations across the country this year with recruitments taking place across central government departments and state governments/UTs supporting this initiative. These melas ascribe gainful opportunities to the youth, the Amrit Generation, and create pathways for their direct participation in national development. Similarly, under the Prime Ministers Employment Generation Programme (PMEGP), over 43.77 lakh people have got employment and the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) has led to the placement of over 24.51 lakh candidates.


As policy making becomes efficient, so do its representative tools; more than 19.9 lakh people have been placed in jobs through employment exchanges between 2017-2022. The government has incessantly been taking many measures to tackle unemployment issues and stem the unemployment rate. The Amrit generation is benefitting from a multi-pronged approach; if on the one hand, Scheme of Fund for Regeneration of Traditional Industries (SFURTI), has benefitted around 2.94 lakh from 2014-15 to December 2022, on the other hand, over 1.80 lakh new job-creators and entrepreneurs are now operating under the Stand-Up India scheme.


New India – Naya Bharat – is one that thrives on a developed mindset with the aim of making the country Atmanirbhar, and a Vishwa Mitra – one the world leans on. As an example of this commitment, in the current financial year, Khadi has achieved a historic milestone by generating over 9.54 lakh new jobs. Be it our push towards renewable energy, creating a decarbonized energy sector which ranks India is 4th globally or the reduction of unemployment rate in rural areas, (decreased from 5.3% in 2017-18 to 2.4% in 2022-23) the commitment of PM Modi’s government to decisively mitigate unemployment stays foremost.


A spurt in the employment index is predicated on employment mobility to higher productivity jobs, rising job rates in secondary and tertiary sectors, promotion of women as economic catalysts and the increased formalisation of the unorganized, informal sector. PM Modi’s government has consistently come good on all the parameters which is the reason why milestone, upon milestone, Bharat’s journey towards becoming Atmanirbhar and the world’s third largest economy, is only a matter of time.