The Narendra Modi government recently completed one year of its second term. AIR correspondent takes a look at the slew of measures and economic reforms introduced in last one year of the Modi government.<br />''<b>&nbsp;</b><b>&nbsp;</b><br />''The summer of 2019 witnessed a massive mandate clearly stamping the tough and direct reformative approach of the Narendra Modi government. To fulfill over 1.3 billion dreams , the Modi government covered several milestones in a short span of 12 months. Nurturing national sentiments on one hand, the nation en marched on its path of inclusive Vikas Yatra when the uphill task to embolden the economy was handed to Nirmala Sitharaman.<br />''&nbsp;<br />''As the first full time woman finance minister of the country, she announced slew of economic measures catering to needs of middle class , corporates , MSMEs , labourers&nbsp; and farmers in her two budgets . When the world was reeling under economic mayhem , Ms. Sitharaman's vision remained clear to push employment generation and stimulate the make in India and made for world initiative.<br />''&nbsp;<br />''Extending social security , pension benefit was extended to retail traders and shopkeepers. Corporate Taxes were slashed to one of the lowest in the world. Huge impetus to ensure supply of drinking water and electricity for every household with emphasis on Gaon , Garib and Kisan was laid down. 10 Banks were merged to address the issue of NPAs and provide better services to consumers.<br />''&nbsp;<br />''Finance Minister introduced simplified tax slabs and a Tax payer charter to put an end to the harassment of tax payers. Faceless appeals for taxation related matters made the process quick and transparent.<br />''&nbsp;<br />''Unique opportunity for settling long pending tax disputes has been offered through Vivad se Vishwas scheme. Even when the economy was masked due to Corona Virus, the Narendra Modi government through its preemptive and proactive response rolled out a package of 1 lakh 70 thousand crore rupees on the second day of nationwide lockdown. Direct cash relief was extended to over 40 per cent of the population. Around 66 percent of the population received extra food grains for three months. Through the Aatma Nirbhar Bharat Abhiyan stimulus of over 20 lakh crore rupees added new leaflets of historic reforms.<br />''&nbsp;<br />''The ambit of MSMEs was widened for all enterprises with turnover upto 250 crore rupees . Farmers were given freedom to sell their produce in any part of the country , even through digital platforms.<br />''&nbsp;<br />''<span style="color: #222222;">Salaried employees and employers were benefitted as government committed to bear the 24 percent EPF contribution on their behalf. Provisioning of 3 lakh crore collateral free loan for MSMEs , two lakh crore concessional credit for farmers and self reliant loan scheme for street vendors were few other major decisions by the government to heal the economy from to the viral contagion.</span><br />
News On AIR | June 3, 2020 11:13 AM
Modi govt covers several milestones in short span of 12 months