government’s apex.
In his address, Prime Minister Modi articulated, “The policies charted in the decade leading to 2014 were, in essence, steering the nation towards destitution. The White Paper, now laid out during the Budget Session of Parliament, articulates this reality.”
He expounded on the investor dismay, emphasizing that the global community was disheartened by the series of scandals and policy stagnation, posing an immense peril of eroding investor confidence. Now, with India’s economy standing robust, the government has candidly presented the entire narrative through the medium of the White Paper.
Prime Minister Modi emphasized that his administration’s hallmark has become the expeditious completion of projects, bolstering the national treasury through reinstating transparency principles and adopting cutting-edge technologies.
During the business summit, he reiterated, “Our government’s distinctive identity lies in the prompt completion of projects. Formerly, escalating project costs ensued due to delays. Take, for instance, the Eastern Dedicated Freight Corridor project initiated in 2008; costs surged from Rs 16,500 crores to surpass Rs 50,000 crores upon its completion last year. Similarly, the Bogibeel Bridge in Assam, launched in 1998, saw costs escalate from Rs 1100 crores to Rs 5,000 crores upon completion in 2018.”
He lauded the implementation of Direct Benefit Transfer (DBT) schemes, underscoring that the government saved a staggering Rs 3.25 lakh crore. “We eradicated 10 crore fictitious beneficiaries existing only on paper, terminating fund leaks. Direct Benefit Transfer played a pivotal role, safeguarding Rs 3.25 lakh crore from falling into the wrong hands. The GeM Portal for government goods procurement resulted in savings of Rs 65,000 crores, and diversification of oil procurement saved Rs 25,000 crores,” he asserted.
PM Modi reaffirmed his accountability not just to the present generation but also to future ones. Regarding the rooftop solar scheme, he stated, “This initiative for one crore houses will not only render electricity bills obsolete by harnessing solar energy but also enable residents to generate income by selling surplus electricity. LED bulbs distributed under the Ujala scheme contributed to savings of Rs 20,000 crores in electricity bills.”
Optimistic about India’s trajectory, Prime Minister Modi assured citizens of the nation’s ascent to become the world’s third-largest economy. He expressed confidence in significant decisions during the government’s third term, with plans underway to launch new schemes eliminating poverty and propelling development.
Highlighting citizen engagement, he disclosed that inputs from over 15 lakh people influenced efforts to reduce bureaucracy and propel the nation forward. The Prime Minister asserted, “The world places trust in India today,” noting international development experts’ discussions on India’s transformative journey over the last decade.
Concluding his address, Prime Minister Modi proclaimed, “New India will operate at unprecedented velocity. This stands as Modi’s guarantee.”
