A family is the basic unit of society. Positive impact in the lives of households has a direct bearing on the development of the nation. In the five years of PM Modi, each member of the typical family has witnessed improvement in their quality of life. In the last five years, from a new born child to a grandparent, there are substantial takeaways for every age group. The cumulative impact on a family, hence, comes out to be much greater and translates into ‘ease of living’.
For better understanding, we take an instance of a family from an economically weaker section of the society. The members of the family include a father, a mother, a son, a daughter and 2 grandparents.
In the pre-2014 era, the father and motherwould have struggled hard while still wanting their children, a son and a daughter to have a good life. However, much of their earnings would have gone into monthly expenses due to high rate of inflation, leaving them little scope for savings for the future. They would aspire for a house of their own. The grandparents had a home in a Tier-II town but they had moved to live with their grandchildren. The grandfather suffered from knee pain, for which the doctor advised him a knee transplant. However, owing to the cost of the knee implants running in lakhs, the family was unable to afford the treatment.
Since the Narendra Modi led Government came to power in 2014; things have turned better for them. The Modi Government has touched the life of each and every member of the family in various ways.
Reduced Financial Burden on Father’s Shoulders
The father wanted to secure his family’s future by purchasing a home in Delhi. However, with his income he was unsure if he will be able to afford the monthly EMIs. Things changed when PM Modi announced Pradhan Mantri Awas Yojana (PMAY) with affordable housing coming within reach. With credit linked subsidy it became all the easier for the father to own a house to secure his family’s future.Now with zero tax liability for net taxable income of Rs. 5 lakh, the father will additionally be able to escape his tax liability by making investments as well.
He plans to invest a part of his savings in Sukanya Samriddhi Yojana and secure funds for daughter’s higher education.
Empowering the Woman of the House
Earlier, the mother would find it difficult to make the ends meet with the limited household budget at her disposal. With the introduction of GST, the tax on a number of daily commodities has come down. Decline in retail inflation has also helped her save additional money. Now, she is able to manage household funds comfortably. She even saves some money and keeps it aside for the future.
The mother wanted to own a small garment boutique of her own and add to the income of the family. She was forced to compromise on her dream due to paucity of funds. However, with MUDRA Yojana– the collateral-free credit scheme that was introduced by the Modi government to help create livelihoods, the mother finished the requisite paperwork within a day and bought an automated sewing machine along with necessary raw material. MUDRA loan allowed her to start a boutique out of her home. Now, she is able to offer newer designs that she learns using her mobile data pack, the cost of which has plunged in the last 5 years. She also enrolled herself in the Pradhan Mantri Kaushal Vikas Yojana to reskill herself and acquaint herself with latest trends and techniques.
Better Life and Savings for Senior Citizens
With the cost of knee implants being slashed drastically, the grandfather was able to get his knee surgery done. The grandmother who was suffering from cardiac related issues is able to save money on medicines by purchasing them at affordable prices from Jan Aushadhi Kendras. Both the grandparents feel happier and healthier. With the launch of UDAN that has made air travel cheaper, both the grandparents are also able to visit their home in the other city more often.
More Opportunities for Bright Young Minds
The sonwho is a bright student, aspires to qualify the IIT-JEE exam. With 7 new IITs being announced, he is positive about securing admission in an IIT. As a second option, he wishes to hone his technical skills which he could use to open his own start-up one day. He feels more optimistic and certain about his future. He is motivated to work even harder to achieve his dreams because now he knows that the government is working in his favour and not against him.
With a PM who comes from a humble family, there is little to dispute that he has always kept constraints and interests of common Indian as one of the critical drivers of policymaking.