The big-ticket reforms in MSME and agriculture sector, coupled with the moves to encourage increasing private sector participation, indicate a pathway for rapid growth in a post-COVID scenario.

Prime Minister Narendra Modi has been consistently pursuing policies that promise overall development of India. Continuous development across dimensions is the only route that will help India achieve its goals. However, with limited pool of natural resources and imminent challenges including water security and climate change, our policies and actions need to be cautious and not encroach the natural ecosystem required for life to sustain. Therefore, India adopted the ‘Resource Efficiency Approach’ which is markedly different from the unsustainable resource maximisation route. In its bid to achieve 2030 Sustainable Development Goals (SDGs), India is aligning its policies with various social, economic and environmental dimensions. By choosing to the meet the resource needs of the country, at the least possible cost to the environment, India has embarked upon the sustainable development pathway for past 6 years.

To arrive at any conclusion related to PM Narendra Modi’s economic policies, once has to rewind to the 2012-13 period, when rupee was at a marked low on account of taper tantrum and India had been dubbed as one of the ‘fragile five’ economies of the world. Policy paralysis had punctured investor confidence and Indian businesses, both big and small, stared into impending distress and despair.

Financial sector reforms have been an integral part of the Modi Government. This approach emanates from the understanding that the sector is the ultimate driver of individual and collective goals. The past six years have witnessed implementation of long-overdue steps, tax optimisation to rationale being a key component behind existence or removal of archaic laws.

Once known as the land of milk and honey, India has abundant natural resources, production capacity, a large domestic market and a vibrant democracy that helps ideas take appreciable form. On August 15, 2019 when PM Narendra Modi shared his vision for a USD 5 trillion economy, he mentioned about his Government’s will to provide an enabling environment and infrastructure to ensure India’s per capital increases in a short-span.