 "Indian Prime Minister Narendra Modi in US. (Photo: @MEAIndia)")
Prime Minister Narendra Modi on Monday elucidated his positions on a number of issues to Business Standard. He emphasised tax reforms and said that job creation remains a priority for him. The interview was conducted in two phases. In the first phase, the Prime Minister answered questions Business Standard had sent to him for the interview. In the second phase, he met a group of editors to answer their questions. Here are the top 10 quotes of PM Modi from the interview:
On Cabinet Expansion
Reshuffle will be largely aimed at expanding the council of ministers. The expansion will also reflect the priorities and the focus of the Union Budget that the government presented earlier this year.
Reshuffle will be largely aimed at expanding the council of ministers. The expansion will also reflect the priorities and the focus of the Union Budget that the government presented earlier this year.
On Governance
We have already cut down the time the government used to take before a proposal would be finalised before being presented to the Cabinet. We have focused on improving the ease of doing business and our rank has already gone up several notches. The number of departments and ministries a file has to move before a decision is taken has to be cut down.
On Jobless Growth
Our employment statistics have limited coverage and are not very reliable. We have given self-employment loans to 34 million entrepreneurs. Many of them are from the Scheduled Castes, Scheduled Tribes, OBC and women. The Make in India movement is gathering steam and will also begin to show substantial employment growth. The re-orientation of our incentives towards employment, instead of capital investment, will produce major effects in due course.
On NITI Aayog
NITI Aayog does not act as an arm of the central government but rather acts as a body which is common to the Centre and the states. NITI Aayog will continue to work closely with the states in evolving a healthy cooperative and competitive federalism.
On Public Sector Banks
You must have heard of the Banks Board Bureau that has now begun functioning. This bureau would create the distance that you are talking about between the management of public sector banks and the owners. This is a big reform measure and would also help professionalise the banks' managements.
On Subsidies
It is a primary responsibility of government to look after the poor and handhold them. We have focused on targeting subsidies through fool proof direct benefit transfers using modern technology and thereby preventing leakages of subsidies. This has been implemented only in a few areas so far, but has already yielded over Rs 35,000 crore of savings.
Excluding the rich from subsidies through legal measures is good for the exchequer. When this happens, it is not just a financial saving, it is part of a social revolution among the citizens, an act of nation building. Its significance is not in terms of value but in terms of values.
On GST
I will always remain hopeful. We are trying to take everyone on board. Those who say we are not having a dialogue with the Opposition parties are mistaken. We are in touch with them.
I will always remain hopeful. We are trying to take everyone on board. Those who say we are not having a dialogue with the Opposition parties are mistaken. We are in touch with them.
On Tax Reforms
We need to move from a situation where only a few people pay direct taxes, and many escape, to a situation where many people pay a moderate amount. We have to make processes simple. Therefore, it is critical that forms, procedures and rules support honest citizens and make it easy to comply with tax laws. We are starting a pilot in seven mega cities where the entire process of assessment, including scrutiny, will be electronic.
On Swachh Bharat
The question of 'swachhta' – cleanliness – should not be asked of the government, but from one’s own self. Ever since Business Standard began getting published, it would never have asked any political leader a question on cleanliness. Today, it is asking the Prime Minister a question on the subject. I would like to see Business Standard publishing one news report daily which focuses on 'swachhta'. It should generate greater awareness, mount a campaign on the subject of cleanliness.
On Two Years of Government
All key economic indicators — inflation, growth and current account deficit are far better. Today, it is acknowledged as the strongest not only in BRICS but as the bright spot globally. The change from pessimism to confidence, justified by facts, is a major achievement. We have eschewed populism and stuck to a path of fiscal prudence.
Sweeping liberalisation of FDI covering sectors ranging from defence to railways and insurance and civil aviation has paved way for the massive inflow of equity FDI in recent months.
Another important aspect of our policies has been the emphasis of innovation and re-kindling our native entrepreneurial spirit. Through programme like Start-up India, Mudra and Stand-up India we are fostering a new generation of entrepreneurs.
