Prime Minister Narendra Modi on Friday said reforms must be undertaken not to grab headlines, but to touch the lives of the poor.
"I would like to raise two issues. The first is reform for what? What is the aim of reform? Is it just to increase the measured rate of GDP growth? Or is it to bring about a transformation in society? My answer is clear. We must reform to transform," said Prime Minister Modi while inaugurating sixth Delhi Economics Conclave.
"The second question is reform for whom? My answer is clear. Reform is that which helps all citizens, and especially the poor, achieve a better life. It is Sabka Saath, Sabka Vikas," he added.
The Prime Minister also said that reform was not an end in itself.
"Reform for me, is just a way station on the long journey to the destination. The destination is transformation of India. Therefore, 'reform to transform'. And reforming to transform, is a marathon, not a sprint," he added.
Prime Minister Modi also said that his government has embarked on a course of fiscal consolidation.
"We have entered for the first time into a monetary framework agreement, with the Reserve Bank to curb inflation. Even while cutting the fiscal deficit we have substantially increased productive public investment," he added.
Making a reference to the Prime Minister Jan Dhan Yojana, he said "What we have done in the last 17 months is to bring one hundred and ninety million people into the banking system. This is more than the population of most of the countries in the world."
"The Accounts opened under the Jan Dhan Yojana today have a total balance of almost Rs. 26,000 crores or nearly four billion dollars. Clearly our financial inclusion reform has been transformational," he added.
Prime Minister also said that the financial inclusion was not just about opening bank accounts or enabling electronic payments, rather there was a need to harness entrepreneurial energy that the country has.
"This energy needs to be harnessed so that we become a nation of job-creators, rather than job seekers," he added.
"We inherited a system where cronyism and corruption were believed to be rampant in banking decisions and in appointments to public sector banks," Prime Minister Modi said.
Prime Minister Modi also said interference in banking decisions have ended as new process for appointments are being put in place under the Bank Boards Bureau.
"Credible and capable bankers have been appointed to head banks. For the first time since banks were nationalised 46 years ago private sector professionals have been appointed in key positions," he added.
Prime Minister Modi also said that the Agriculture was nation's mainstay in terms of providing livelihood.
"We have introduced a series of reforms. There was a tendency to divert subsidised fertiliser for the production of chemicals," he added.
He also said that the government has introduced a Soil Health Card nationally which tells every farmer the condition of his or her soil.
"It enables the farmer to choose the right quantity and mix of inputs. This greatly reduces wastage of inputs and increases crop yield besides protecting the soil. By reducing unnecessary chemical inputs, it is also good for health of consumers," he added.
Stressing on the housing program for all the Prime Minister said that it was one of the most ambitious in the world.
"It involves building twenty million urban houses and thirty million rural houses, totalling nearly fifty million. The programme will make sure no Indian is houseless," he added.
The Prime Minister also said that his government has introduced a Universal Account Number which will remain with an employee even when he changes jobs.
"This greatly improves labour mobility and makes life easier for employers and employees," he added.
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"We have started empowering the unorganised sector employees by giving them a Universal Identity Number and providing certain minimum social security benefits to them," he further said.
Prime Minister also emphasized on the Clean India campaign, saying it will impact not only the health and sanitation but also uplift the status and security of women and above all create a powerful sense of well-being.
"If this reform succeeds, as I am confident it will, India would have been transformed," he added.
Prime Minister Modi said that after coming to power his government had created a new institution the National Institution for Transforming India (NITI).
"My vision of NITI is very different from the Planning Commission. It is to be a collaborative forum for ideas and action where States are full partners and where Centre and States meet in a spirit of co-operative federalism," he added.
He further emphasized on the Make in India, saying the push to the program must be viewed in the context of the very slow growth in world trade.
"When I visited China, a state-to-state summit was also held. And states have been asked to create export promotion councils. Making the States think globally is yet another reform with potential to transform," he added.
Prime Minister further said that there was a change in levels of corruption in the country.
"For many years, economists and other experts have held corruption to be one of the main constraints on the growth of any developing economy. We have taken decisive steps to curb corruption," he added.
"We have recently abolished the system of interviews for lower level posts in government. We will rely on transparent written examination results to decide who will be selected," he further added.
