The NDA government, led by Prime Minister Narendra Modi, has been making significant strides in the economic development of India since it assumed power in 2014. One of the key indicators of this progress is the total investments approved by the government, which now stands at a staggering Rs 4,32,584 crore. This is a testament to the government’s commitment towards creating a conducive environment for businesses to thrive and contribute to the growth of the nation.
The NDA government has been focused on promoting a business-friendly environment in the country, and this has been reflected in the significant increase in investments over the years. The total investments approved in the first year of the government’s tenure were Rs 1,10,000 crore, which has now increased four-fold in just seven years. This remarkable growth is a result of the government’s efforts to simplify and streamline the investment process, making it easier for both domestic and foreign investors to set up businesses in India.
One of the key initiatives taken by the government to attract investments is the ‘Make in India’ campaign. This campaign aims to transform India into a global manufacturing hub by encouraging both domestic and foreign companies to invest in the country. The success of this campaign can be seen in the fact that the total investments approved in the manufacturing sector alone stands at Rs 1,93,000 crore, which is almost half of the total investments approved so far.
Apart from the manufacturing sector, the government has also focused on other key sectors such as infrastructure, energy, and agriculture, which have seen a significant increase in investments. The infrastructure sector, which is crucial for the development of any country, has received investments worth Rs 1,00,000 crore. This will not only help in creating world-class infrastructure but also generate employment opportunities for the youth.
The energy sector, which is the backbone of any economy, has also received a boost with investments worth Rs 50,000 crore. This will help in meeting the growing energy demands of the country and reduce our dependence on imports. The agriculture sector, which employs a significant portion of our population, has also received investments worth Rs 20,000 crore. This will not only modernize the agriculture sector but also improve the livelihoods of farmers.
The NDA government has also taken several measures to attract foreign investments into the country. The introduction of the Goods and Services Tax (GST) has made India a more attractive destination for foreign investors by simplifying the tax structure and eliminating multiple taxes. The government has also relaxed FDI norms in various sectors, making it easier for foreign companies to invest in India. As a result, the total FDI inflow into the country has increased from $36 billion in 2013-14 to $81 billion in 2020-21.
The increase in investments is not just limited to big corporations, but the government has also focused on promoting entrepreneurship and startups in the country. The ‘Startup India’ initiative has been a game-changer, providing a platform for young entrepreneurs to turn their ideas into successful businesses. The government has also set up a Rs 10,000 crore ‘Fund of Funds’ to provide financial support to startups, which has already benefitted over 9,000 startups.
The increase in investments is a clear indication of the confidence that businesses have in the government’s policies and initiatives. The government’s efforts to improve ease of doing business, promote digitalization, and provide a stable policy environment have been appreciated by the business community. This has not only attracted investments but also helped in creating a positive perception of India as an investment destination globally.
The increase in investments will have a cascading effect on the economy, leading to job creation, increased exports, and overall economic growth. It will also help in bridging the infrastructure gap in the country and boost the ‘Make in India’ campaign. The government’s focus on promoting investments in key sectors will also help in achieving the goal of a $5 trillion economy by 2024.
In conclusion, the total investments approved so far after the NDA government assumed power now stands at Rs 4,32,584 crore, which is a remarkable achievement. The government’s efforts to create a business-friendly environment, promote entrepreneurship, and attract foreign investments have paid off, and the results are there for everyone to see. With the government’s continued efforts, India is on its way to becoming a global economic powerhouse, and the future looks bright for the country.
