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World’s fastest growing has turned adversity reforms, by incentivising
major economy – why into opportunity. them.
growth is not just a number • All economic indicators • Reforms have protected
• There is a global pointing towards India’s the interests of all
consensus that India economic resurgence. stakeholders.
will remain the world’s • From MSMEs to MNCs,
fastest growing major all firms have witnessed Building a better economy
economy. expansion in output • Introduction of Goods
• High growth will lead and contributed to a and Services Tax (GST)
to greater resources historic rise in services, has led to greater
for the government and manufacturing and formalisation.
allow further expansion exports. • Sharp decline in NPAs
of welfare schemes and • Hiring sentiment at an and economic offences
infrastructure projects. all-time high in many due to strict action by
• High growth leads sectors, ensuring growth the government for
to the creation of converts to jobs. recovering dues.

new employment • IBC has salvaged the
opportunities. Reforms by conviction and situation for the Indian
• New opportunities lead to consensus banking and corporate
a steady rise in incomes • PM Modi has started a sectors.

and distribution of new trend of reforms by • India is rapidly
benefits of growth to conviction and consensus transforming into a
every section of society. by personally pushing ‘Digital Economy’.
many structural
Aatmanirbhar Bharat: reforms at a difficult * * *
turning adversity into stage.
opportunity • Cooperative federalism
• Robust economic means the Centre is
management by PM Modi encouraging states to
since the pandemic started voluntarily undertake

Creating a base for ‘Growthade’

• Record resource mobilisation of over Rs 1,60,000 crore through IPOs in 2021-23
• National highways increased from 91,287 km in 2014 to 1,45,155 km in 2022-23
• Presently (as on date), there are 148 operational airports in the country, which
include 137 airports, 02 Water aerodromes and 09 Heliports
• Extension for availing 15% tax rate for new manufacturing units till 2024, and
tax incentives by a year for start-ups, will give a boost to sectors that have
flourished in the last few years and created jobs
• Scheduled Commercial Banks (SCBs) gross non-performing assets (GNPA) ratio
fell to a seven-year low of 5.0% in September 2022
• The housing up-cycle continues

78 9 Years - Seva, Sushasan, Garib Kalyan