One Nation One Market
September 26, 2016
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It has been 7 decades since we got independence and Sardar Patel united various provinces to make a United India. Political union became a reality, but India did not become one market. NDA Government is working with the aim of uniting India’s markets, to empower our producers & strengthen our consumers. It is with this vision that the NDA Government, led by PM Narendra Modi has taken multiple initiatives to truly achieve One Nation, One Market.

e-NAM

Agriculture marketing is administered by the States as per their agri-marketing regulations, under which, the State is divided into several market areas, each of which is administered by a separate Agricultural Produce Marketing Committee (APMC) which imposes its own marketing regulation (including fees). This fragmentation of markets, even within the State, hinders free flow of agri commodities from one market area to another and multiple handling of agri-produce and multiple levels of mandi charges ends up escalating the prices for the consumers without commensurate benefit to the farmer.

e-NAM addresses these challenges by creating a unified market through online trading platform, both, at State and National level and promotes uniformity, streamlining of procedures across the integrated markets, removes information asymmetry between buyers and sellers and promotes real time price discovery, based on actual demand and supply, promotes transparency in auction process, and access to a nationwide market for the farmer, with prices commensurate with quality of his produce and online payment and availability of better quality produce and at more reasonable prices to the consumer.

GST

We had a multitude of taxes across the country. One country had multiple tax rates and multiple rules. Often, the producers ended up paying more and so did the consumers. This will all change with the advent of GST. With GST, there will be one tax rate in the entire country.

GST is a single tax on the supply of goods and services, right from the manufacturer to the consumer. Credits of input taxes paid at each stage will be available in the subsequent stage of value addition, which makes GST essentially a tax only on value addition at each stage. GST will ensure that indirect tax rates and structures are common across the country, thereby increasing certainty and ease of doing business. A system of seamless tax-credits throughout the value-chain, and across boundaries of States, would ensure that there is minimal cascading of taxes. The subsuming of major Central and State taxes in GST, complete and comprehensive set-off of input goods and services and phasing out of Central Sales Tax (CST) would reduce the cost of locally manufactured goods and services. This will increase the competitiveness of Indian goods and services in the international market and give boost to Indian exports. Because of efficiency gains and prevention of leakages, the overall tax burden on most commodities will come down, which will benefit consumers.

One nation, One grid, One price

Transmission capacity in India has been inadequate and unevenly distributed, leading to constraints in supplying power from surplus States to deficit States. States in South India, especially in the peak summer months, would face shortage of power due to congestion in transmission lines. This would result in double-digit prices for these States. NDA Government increased Available Transfer Capacity (ATC) by approximately 71% from 3,450MW in 2013-14 to 5,900MW. This has significantly reduced prices.

The information regarding price and availability of surplus electricity on the grid is being provided to the public through the mobile app, “Vidyut Pravah”. This app also provides the amount of electricity being purchased by States, and whether any shortage has been declared by said State. As per the Vidyut Pravah app, we find that the electricity rates for all States are uniform on many occasions. This is the culmination of multiple steps, which have been taken by the Government.

This increase in transmission capacity has also made it possible for many States to purchase short term power requirement from the National Grid. The Government launched “DEEP (Discovery of Efficient Electricity Price) e-Bidding & e-Reverse Auction portal” for procurement of short-term power by Distribution Companies (DISCOMs). This competitive procurement helps reduce procurement prices thereby benefitting ultimate customers.

UAN

Earlier when a person joined a new job for the first time, he got an EPF account opened by the employer where his provident fund money was deposited. His Provident Fund money was deposited in this account and when the employee left his job, this process began with a new EPF account. This not only needed high transaction costs & filling of multiple forms, but also made employees dependent on their previous employers for validation. With UAN, the employer has no role in the employees transactions and direct communication happens between EPFO and the employer. UAN remains constant & uniform through the employees lifetime & the PF money deposits will be linked to this UAN, leading to easy withdrawals.
These initiatives will go a long way in integrating India’s market while making life easier for the citizens.

 

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Infrastructure and connectivity act as arteries for development and growth of any nation. It is evident that infrastructure development has been given priority by the NDA government under PM Narendra Modi. For fulfilling the dream of New India, the NDA government is focussing on development of railways, roadways, waterways, aviation or affordable housing.

Railways

The Indian rail network is one of the largest railway networks in the world. The pace of track renewal, elimination of unmanned level crossings and commissioning of broad gauge lines has significantly improved during NDA government under PM Modi.

Railways recorded its best-ever safety record with less than 100 accidents in a year in 2017-18. Data reveals that 118 railway accidents were recorded in 2013-14 which have declined to 73 in 2017-18. 5,469 unmanned level crossings have been eliminated, with average pace of elimination at 20% more than that of 2009-14. All unmanned level crossings on broad gauge routes targeted to be eliminated by 2020 for better safety.

Bringing railways development on track, there is a 50% increase in track renewal, from 2,926 km during 2013-14 to 4,405 km during 2017-18. Broad gauge commissioned during 4 years of NDA government under PM Modi (9,528 km) is much greater than that commissioned during 2009-14 (7,600 km).

For the first time Northeast India is fully integrated with the rest of India with the entire network converted to broad gauge. It brought Meghalaya, Tripura and Mizoram on the rail map of India after 70 years of independence!

For developing New India, we need advanced technology too. The bullet train, planned from Mumbai to Ahmedabad, will reduce travel time from about 8 hrs to 2 hrs.

 

Aviation

Rapid progress is happening in civil aviation sector too. Promising affordable air travel under UDAN (Ude Desh ka Aam Nagrik), 25 operational airports have been added in just 4 years, as opposed to 75 airports between Independence and 2014. Regional air connectivity to unserved and underserved airports at subsidised fare of Rs 2,500 per hour has helped to fulfil dream of many Indians to travel by air. Thus, for the first time more people travelled in airplanes than in AC trains.

With passenger traffic growth in the range of 18-20% in the past three years, India has emerged as the world’s third largest aviation market. Number of domestic air passengers crossed 100 million in 2017.

 

Shipping

India is also taking rapid strides in the shipping sector under PM Narendra Modi’s government. Accelerating port-led development, the turn around time at major ports have been reduced by a third, from 94 hrs in 2013-14 to 64 hrs in 2017-18.

Consider the cargo traffic at major ports. It declined from 570.32 MT in 2010-11 to 545.79 MT in 2012-13. However, under the NDA government it improved to 679.367 MT during 2017-18, a whopping increase of more than 100 MT!

Inland waterways significantly reduce the transportation costs and boost the economy apart from reducing carbon foot print. 106 national waterways were added in the last 4 years compared to 5 national waterways in the last 30 years.

Road development

Expansion of highways with multi-modal integration has been taken up under transformative project Bharat Mala Pariyojana. National highway network expanded from 92,851 km in 2013-14 to 1,20,543 km in 2017-18.

Setu Bharatam project for safer roads, with total outlay of Rs. 20,800 crores, envisages building of railway overbridges or under passes to make all National Highways free of railway level crossings.

The pace of road construction has almost doubled. Speed of highways construction was 12 km per day during 2013-14 which stood at 27 km per day as of 2017-18.

 

Development of India’s longest ever tunnel, Chenani-Nashri, in Jammu as well as India’s longest bridge, Dhola-Sadiya, for enhanced connectivity to Arunachal Pradesh are testimony to the commitment to take development to hitherto untapped regions. Building of bridges over Narmada at Bharuch and Chambal at Kota have also improved road connectivity in the regions.

Roads act as catalysts for rural development. Considering its importance, almost 1.69 lakh kms of rural roads have been built in 4 years. Average speed of road construction improved from 69 km per day in 2013-14 to 134 km per day in 2017-18. Presently, rural road connectivity is more than 82%, as against 56% in 2014, making villages become a part of India’s development trajectory.

Tourism has immense potential for employment generation. To enhance pilgrimage experience along with a boost to the tourism sector, Char Dham Mahamarg Vikas Pariyojana was launched. It seeks to make journey safer, faster and more convenient. It entails development of around 900 km of national highways at an approximate cost of Rs 12,000 crore.

With boost to the infrastructure, more movement of freight takes place and adds strength to the economy. Due to efforts of the NDA government, highest ever freight loading (1,160 MT) was recorded in the year 2017-18.

Urban transformation

For urban transformation through Smart Cities, around 100 urban centres have been chosen to ensure improved quality of living, sustained urban planning and development. Various development projects in these cities will positively impact almost 10 crore Indians. These projects will cost Rs. 2,01,979 crores.

Around 1 crore affordable houses have been built under the Pradhan Mantri Awas Yojana in both rural and urban areas. To benefit the middle and neo middle classes, housing loans up to Rs 9 lakh and Rs 12 lakh are eligible for interest subvention of 4% and 3%.