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CPCT MOCK TEST 4 Koushlya Devi Institute Dhar, Deepak Gaykwad sir

created Jan 13th, 13:04 by Deepak Gaykwad


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543 words
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Speaking at The Economic Times Global Business Summit last Friday, Prime Minister Narendra Modi outlined an economic philosophy in which the government empowers the people to use there own native intelligence, creativity and entrepreneurship to create jobs and incomes, and pull themselves out of poverty and into prosperity. In this vision, the government is the enabler and the people themselves the change agents. The shift in emphasis from the philosophy of the previous UPA regime is unmistakable. The UPA presented itself as the provider, and not just the enabler. This view outlined by the PM is fully shared by his ministerial colleagues who spoke at the summit, all five of them articulated the same vision. Yes, the PM had unveiled his economic vision at GBS last year, where he announced his ambition to see India grow into a 20 trillion dollars economy. Yet, there is a shift in nunace. While the government is primarily the enabler, it will continue to play caregiver for the poor and the disempowered. Subsidies will continue, but will be better targeted. The Aadhaar project initiated by the previous government will help uniquely tab bank accounts of the deserving poor, to which the subsidy would be transferred, protecting against leakage and, further allowing a competitive market to function for the products whose prices were earlier distorted by subsidy and have now been freed up. The PM used his speech to signal his pro-poor bias, by putting subsidy on par with outlays or tax breaks for industry, and ribbing the assembled industrialists and poilcy wonks on the eitist bias inherent in calling what the poor and the farmers receive as subsidy while terming concessions to industry as incentives. All this is welcome Equally welcome is another feature of the Prime minister's vision India's growing and benign influence on the world economy. It is not just that india's sustained high growth in stagnant globe will help all other economies, but also that Indian initiatives like this will make a qualitative change to the quality of the around the world. Consumer's are common man. whose purchasing power is reduced by increasing service tax. In the last budget, it has further reduced purchasing power of common man. Government has failed to generate additional income/revenue. did not stop extending subsidies to rich, billionaire, never instructed banks to raise capital from stock market when stock market was at peak, never took timely decision on loss making. This view outlined by the PM is fully shared by his ministerial colleagues who spoke at the summit, all five of them articulated the same vision. Yes, the PM had unveiled his economic vision at GBS last year, where he announced his ambition to see India grow into a 20 trillion dollars economy. Yet, there is a shift in nunace. While the government is primarily the enabler, it will continue to play caregiver for the poor and the disempowered. Subsidies will continue, but will be better targeted. The Aadhaar project initiated by the previous government will help uniquely tab bank accounts of the deserving poor, to which the subsidy would be transferred, protecting against leakage and, further allowing a competitive market to function for the products whose prices were earlier distorted by subsidy and have now been freed up.

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