Question

Essay on concept of new India

Answer 1

The ranges of stories like Resurgent India, Digital India, Inclusive India, Incorruptible India, Investor-friendly India, TransformationalIndia, Clean India, Skill India, Transparent India, Transforming India, Emerging India, Caring India, and Communicating India are in the process of shaping India as a ‘New India. Resurgent India the demonetisation drive of Rs. 500 and Rs. 1000 notes in November 2016 impacted positively on the economy and it also provided a logical climax to the series of initiatives taken towards to curb the three-pronged menace of black money, counterfeit currency and corruption. Setting up of a SIT collaborated with Swiss Bank to deal with investigations on individual cases of tax evasion and Income Declaration Scheme (IDS), which mobilised tax revenue of nearly Rs. 65,000cr.The demonetisation drive and the initiative of purging the economy from the toxic black cash provides a space for the Government and the Central Bank to cut tax rates and interest rates respectively, prompting up investments while being on track to attain the fiscal deficit and growth targets. The initiative of Digital India was most successful after the demonetisation which inculcates a behavioural change in the people by prompting cashless transactions and converting India into a less cash society, thereby seeking to increase transparency and accountability. In order to make Digital India as a successful initiative, the government has taken the effort to boost the Digital Payments ecosystem and launched the BHIM app in which 1.5 crore people have registered within 2 months of its launch. To facilitate digital transactions among people, over 30 crore Rupay debit cards had been issued by the government including those issued to Jan Dhan account holders.Around 12.5 lakh people who preferred to do digital transactions have won under the LuckyGrahak Yojana while 70,000 traders bagged prizes under the Digidhan Vyapar Yojana.The Pradhan Mantri Garib Kalyan Yojana provided an opportunity to tax evaders to declare their undisclosed income and the funds of which would be channelized for the welfare schemes for the poor.The opening of saving accounts under Pradhan Mantri Jan Dhan Yojana (PMJDY) make possible to channelize the LPG subsidy to the targeted beneficiaries under the Direct Benefits Transfer (DBT) scheme or PAHAL scheme.DBT is the largest scheme of its kind in the world with more than 160 million registered beneficiaries which has a great potential to emerge as global best practice in benefit transfers to poor households.Since the implementation of DBT, the Government has managed to save nearly Rs. 22,000cr on LPG subsidy.The initiatives like demonetisation, PMJDY, DBT have made the government to achieve the goal of universal financial inclusion and bringing every citizen into the formal banking net.Under the PMJDY, around 28.13cr accounts have been opened so far which gives a much-needed boost to move towards a cashless economy and realise the dream of 'financial untouchability' in the country.