Highlighting the achievements from ‘Pradhan mantra Garib Kalyan Yojana’ and ‘e-Shram portal’, Union Finance Minister Nirmala Sitharaman said that Prime Minister Narendra Modi doesn’t believe in the principle of ‘entitlement’, but instead in empowering the people. She was speaking at the 96th and 97th Annual Day celebrations of Shri Ram College of Commerce.
Addressing the event, Ms Sitharaman said, “Prime Minister Narendra Modi doesn’t believe in the principle of ‘Entitlement’. He strongly believes in ’empowering’ people, giving them the choice of what they want to do, spending on fundamental things that give them the power to decide where they want to be, and providing them with access to resources and essential facilities like housing, roads, drinking water, toilets, etc”.
The Union Finance Minister said that during the COVID-19 pandemic, free food grains were provided to 80 crore people under PM Garib Kalyan Anna Yojana.
“We launched PM Garib Kalyan Anna Yojana to ensure that nobody remains hungry. When migrant workers were going back, we mapped out the districts where they were going in significant numbers and converged programs of various ministries so that employment could be provided to them in their own respective villages. Rs 50,000 crores were allotted to provide employment for 125 days to them in their respective villages under PM Garib Kalyan Rozgar Yojana,” she said.
Ms Sitharaman added that more than 400 different types of jobs got registered on the e-Shram portal.
“Through the eShram portal launched by the Modi government, many unorganized sector workers got registered in the portal and got to choose the nature of the work they want to do as per their respective skills. Even the option of skill upgradation was provided to them. More than 400 different types of jobs were registered on the e-Shram portal. Around 29 crore people are registered on the portal out of which more than 50 per cent are women,” she added.
She further said that it is the people who deserve the credit for India becoming the third largest economy.
“There are a lot of people who say that it is a given that India will become the world’s third-largest economy and that we don’t need to take credit for it… It is for the people of India who should get the credit and feel proud about it. It is the people of India who moved the Indian Economy from 10th position to 5th and will take it to the 3rd position as well. To say that it can be a fait accompli and that there’s no effort of the people is to undermine the efforts of our entrepreneurs, farmers and other sections that are pushing India upwards,” Ms Sitharaman said.
The Finance Minister emphasized the substantial increase in Foreign Direct Investment in India in the last nine years.
“Total FDI inflows in the country in the last 23 years (April 2000-March 2023) was USD 919 billion. Whereas, the total FDI inflow received in the last 9 years (April 2014- March 2023) was USD 595.25 billion which amounts to nearly 65 per cent of the total FDI inflow in the last 23 years. It reflects a policy, it reflects policy continuity, and macroeconomic environment which favors investment and people come without hesitation,” she said.
She also highlighted the economic concept of ‘Nudge Theory’ has been used by the Modi government is ideas such as ‘Beti Bachao Beti Padhao’, PM SVANidhi and Vishwakarma Yojana.
“Nudge Theory, given by economist Richard Thaler, has been used by the Modi Govt in various initiatives to make a difference in the economy. Nudge Theory is being used as a tool to promote economic activity tailored to India’s requirements,” Ms Sitharaman said.
She added, “Examples of its usage can be seen in the ‘Beti Bachao, Beti Padhao’ Scheme which has improved the sex ratio; to give subsidized loans to women under Stand-up India; and nudging people to give up their LPG cylinder subsidy.PM SVANidhi Scheme was launched to give credit facilities to street vendors reducing their dependence on middlemen and the same has been applied in PM Vishwakarma Yojana”.
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