India’s GDP Soars: A Win For PM Modi’s GDP plus Welfare

Published By : Admin | December 1, 2023 | 21:12 IST

Exceeding all expectations and predictions, India's Gross Domestic Product (GDP) has demonstrated a remarkable annual growth of 7.6% in the second quarter of FY2024. Building on a strong first-quarter growth of 7.8%, the second quarter has outperformed projections with a growth rate of 7.6%. A significant contributor to this growth has been the government's capital expenditure, reaching Rs. 4.91 trillion (or $58.98 billion) in the first half of the fiscal year, surpassing the previous year's figure of Rs. 3.43 trillion.
India has emerged as an outstanding performer among major economies, showcasing resilience in the face of a globally uncertain environment characterized by risks related to geopolitical conflicts, fluctuating energy prices, and concerns about a potential recession.
This impressive milestone further substantiates the country’s unique development paradigm. A paradigm, that has been a hallmark of Prime Minister Narendra Modi’s government in the last 9 years, set to leave an inspiring trail for other developing nations to follow.

What is PM Modi’s GDP Plus Welfare model?
GDP, in itself, has been an incomplete measure of development as it overlooks inequality amid growth. However, once PM Modi assumed service of the nation in 2014, growth intertwined with welfare to revolutionize the Indian economic experience. The fruits of the shift are visible today as India continues to be the fastest growing major economy even as the global headwinds don’t show much promise.
PM Modi’s GDP Plus Welfare model has worked wonders for a country that had been long deprived of even basic amenities of life. This success can be attributed to a departure from the previous governments’ approach to welfare, which primarily involved handouts, loan write-offs, or the distribution of consumer goods. Taking a leaf out of his development initiatives in Gujarat, PM Modi focused on building fundamental public infrastructure first, empowering individuals to act as agents of change. We have seen this approach in government schemes like SAUBHAGYA, Jal Jeevan Mission, PM Awas Yojana, and PM Gram Sadak Yojana, among others. Today we have achieved 100% electrification of villages while over 13.7 crore tap water connections make water available to 70% of our families from only 17% about a decade ago. In addition, PM Modi’s government has sanctioned over 4 crore houses towards its guarantee of Housing for All. The Swachh Bharat Mission has successfully constructed over 11.7 crore toilets, contributing to improved sanitation nationwide. In 2014, barely half of the villages had all-weather road connectivity, but today, the number has surged to over 99%.
Going beyond the fundamental needs, the government since 2014 has taken transformative measures to augment economic activity in every possible way. In manufacturing, for example, initiatives like Make in India, Production-Linked Incentive schemes, along with labor reforms have greatly energized overall industrial sentiment. Today as the data suggests manufacturing has achieved a real GVA growth of 13.9% in Q2 of FY2024 against 4.7% in Q1. PMI Manufacturing continues to expand, reaching 55.5 in October 2023.
The services sector has also performed well registering a jump of 5.8%, driven by robust financial, public administration and professional services. The construction sector, in particular, is performing exceptionally well, jumping from 7.9% in Q1 to 13.3% in Q2 as the government increased its capex by over 40%.
In addition, schemes like PM Fasal Bima Yojana, PM KISAN, Paramparagat Krishi Vikas Yojana, PM Krishi Sinchayee Yojana, and e-NAM are actively supporting, modernizing and changing the face of Indian agriculture.
PM Modi has been heavily committed to charting the trajectory for Bharat to become a developed country by 2047. His further push towards building long-term infrastructure finds momentum via AMRUT, Smart Cities, Vande Bharat trains, industrial and freight corridors along with Sagarmala and Bharatmala. These bona fide interventions are powered by PM Gati Shakti and National Infrastructure Pipeline that aim to simplify and integrate planning, and funding of infrastructural activity in the country respectively.
Whether it is about building a road for connectivity or restoring an individual’s dignity through toilets, PM Modi’s government has pursued a diverse blend of welfare and GDP spending. Each government initiative focuses on building sustainable assets that not only result in extensive connectivity, robust infrastructure, rural and urban renewal but also generate jobs and aid human capital development. These programs constitute the foundation for 21st-century India, molding the vision of New India, rapidly progressing towards the realization of the goal of becoming a 'Viksit Bharat' (Developed India). All of this transcends the concept of transactional welfarism. It is about creating a virtuous cycle of economic demand via empowerment of individuals cutting across lines of caste, class, community, religion and gender. It is about establishing conditions for growth that are both sustainable and egalitarian. embodying the principle of 'Sabka Saath, Sabka Vikas, Sabka Vishwas aur Sabka Prayas' as stated by the Prime Minister.
PM Modi’s inclusive developmental paradigm stands vindicated today. Along with the growth in our GDP, the government has been able to lift 13.5 crore people out of poverty— an unprecedented achievement. Globally, the model has ensured that India maintains its developmental streak even as countries like China show vulnerability. PM Modi’s GDP plus Welfare model is indeed a formidable recipe for a formidable India—an India which is Aatmanirbhar and Viksit.

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PM Modi addresses a vivacious crowd in Pataliputra, Bihar
May 25, 2024
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Prime Minister Narendra Modi graced the historic land of Pataliputra, Bihar, vowing to tirelessly drive the nation’s growth and prevent the opposition from dividing the country on the grounds of inequality.

As PM Modi further delved into his spirited address, he praised the dedication of BJP workers, attributing the party's success to their tireless efforts. He humorously noted the popularity of Maner ladoos, urging supporters to have them ready for June 4th. PM Modi also pointed out that the opposition's complaints about EVMs are the best indicator of NDA's impending victory. He confidently declared that new records would be set in Pataliputra and across the nation, echoing the sentiment, "Phir Ek Baar...Modi Sarkar!"

PM Modi highlighted the stark contrast between his vision and the opposition's focus. On one side, he is dedicated to building a Viksit and Aatmanirbhar Bharat by 2047, “working tirelessly to enhance national security and modernize infrastructure.” On the other side, “the INDI Alliance has no agenda but to criticize Modi and cater to their vote bank. The choice is clear: progress and development with Modi, or constant negativity with the INDI Alliance.”

PM Modi emphasized the importance of the upcoming election, not just for choosing MPs but for selecting the right PM. He underscored India's need for a strong leader who can showcase the nation's power on the global stage. Contrasting this vision, the PM highlighted the INDI Alliance’s plan to deliver five different PMs in five years, “The contenders? A parade of family members: sons and daughters from the Gandhi, SP, National Conference, NCP, TMC, AAP, fake Shiv Sena, and RJD families. Their aim is to play musical chairs with the Prime Minister's seat, driven by dynastic politics rather than national interest.”

In his address, PM Modi also underscored Bihar's historic role in championing social justice and the right to reservation for SC/ST/OBC communities. However, he revealed a bitter truth. “The RJD-Congress and their allies are betraying these very communities. The Constitution and Baba Saheb Ambedkar clearly state there should be no reservation based on religion. Yet, the RJD-Congress are conspiring to allocate SC/ST/OBC quotas to their vote bank, undermining constitutional principles,” he remarked.

PM Modi also exposed this betrayal, stating, “Every caste, including Yadav, Kurmi, Kushwaha, Kalwar, Teli, Suri, Kanu, Nishad, Paswan, Ravidas, and Musahar, has been robbed of their rightful reservation. These actions are not just unconstitutional but also a grave injustice to the children of Dalits, backward classes, and tribals, whose admission quotas have been unfairly reduced in favour of Muslims.” This, he emphasized, is a stark violation of the principles of social justice and the Constitution.

PM Modi shared his understanding of what it means to have one's rights taken away. This empathy drives his commitment to ensuring the poor receive their due. He reminded the crowd of the days “when Congress allowed grains to rot while refusing to feed the poor”, contrasting it with his own “policy of opening warehouse doors to every needy person, ensuring no mother stays awake worrying about feeding her child.”

PM Modi also announced plans to build more pucca houses, equipped with toilets, electricity, cheap gas cylinders, and tap water. He mentioned about the PM Suryaghar Yojana, which aims to reduce electricity bills to zero and install solar panels, allowing families to use free electricity and even earn by selling the surplus to the government.

As he concluded his speech, PM Modi urged everyone to visit local temples and seek blessings for a Viksit Bharat. He passionately encouraged the crowd to vote for the BJP, saying, "Let's ensure victory for a stronger, prosperous nation!"