The ten big policy plays: Key economic initiatives India has seen under Modi from 2014 to 2024

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The goods and services tax, the bankruptcy code, PM-Kisan — key economic initiatives India has seen over the past 10 years. The last decade has also been marked by big social interventions, beginning with the financial inclusion drive launched soon after the NDA came to power in 2014. The results of these measures will serve as the launch pad for achieving developed economy status in 2047. A look at some of the transformative policy changes over the decade.

2014: Pradhan Mantri Jan Dhan Yojana
The government announces the Pradhan Mantri Jan Dhan Yojana scheme to drive financial inclusion

2015: Insolvency and Bankruptcy Code
The Insolvency and Bankruptcy Code bill, which lays the foundation for faster and more efficient insolvency resolution, introduced in Lok Sabha

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2016: Demonetisation
On November 8, the Prime Minister announces demonetisation of Rs 500 and Rs 1,000 notes to promote cashless transactions and curb the shadow economy

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2017: Good and Services Tax
The government implements one nation-one tax to simplify the tax regime

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2018: Pradhan Mantri Jan Aarogya Yojana
The health assurance scheme is started to provide health cover of Rs 5 lakh per family per year for secondary and tertiary care hospitalisation

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2019: PM-KISAN
The government launches PM-Kisan Samman Nidhi to transfer Rs 6,000 per annum as minimum income support to farmers

Allocations – FY19: Rs 1,241 cr
FY20: Rs 48,714
FY21: Rs 60,990
FY22: Rs 66,825 cr
FY23: Rs 58,254 cr
FY24: Rs 60,000 cr

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2020: New Income Tax Regime
The government introduces a new tax regime for individual taxpayers with no exemptions, running parallel with the old tax regime

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2021: PM Gati Shakti
The government launches Gati Shakti to push for the coordinated implementation of infrastructure connectivity projects

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2022: Developed India@2047
The Prime Minister sets 2047 as the target for making India a developed economy, to mark the 100th year of the country’s independence

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2023: Sun, Moon & Stars
India successfully lands Chandrayaan-3 on the moon and launches its first mission dedicated to observe the sun

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OTHER KEY DEVELOPMENTS:

  • India hosts G20 ?India announces it will release a
  • National Data Governance Policy

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