Prime Minister Modi announced the creation of a deregulation commission to reduce state involvement in governance at the ET Now Global Business Summit 2025. He asserted that reforms are now driven by conviction rather than compulsion, contrasting with past administrations. Key initiatives include the Goods and Services Tax, property rights enhancements, and a commitment to positive discourse in democracy, aiming to advance India’s status as a leading global economy.
Prime Minister Narendra Modi announced the establishment of a deregulation commission aimed at diminishing the state’s involvement in governance and enhancing the ease of doing business. Speaking at the ET Now Global Business Summit 2025, he asserted that reforms under his administration are propelled by conviction rather than compulsion, contrasting his approach with that of the previous Congress-led government.
During his address, Modi commended the transformative impact of the National Democratic Alliance (NDA) government, which has reoriented attitudes toward business from fear to ease of operation. Key reforms, such as the implementation of the Goods and Services Tax (GST) and the recently updated Jan Vishwas 2.0 Act, reflect this shift by eliminating numerous compliance hurdles.
Modi expressed his belief in less governmental interference in societal affairs and emphasized that the new deregulation commission would help facilitate this vision, promoting accelerated progress during his third term. He also thanked voters from Odisha, Maharashtra, Haryana, and New Delhi for their support of the Bharatiya Janata Party (BJP), highlighting increased global confidence in India.
Highlighting advancements in property rights, the Prime Minister pointed to the Svamitva Yojana initiative, where drone-assisted surveys in over 300,000 villages have led to the distribution of various property cards. This effort has unlocked property values approximating ₹100 lakh crore, providing rural residents with access to credit.
Modi criticized the previous UPA government’s slow pace in implementing reforms, claiming that since coming to power in 2014, the BJP has ushered in a significant wave of change. He noted, “Congress speed of development and Congress speed of corruption, the country was watching…what would have happened if it had continued?”
The Prime Minister urged a shift away from the notion that negativity is synonymous with democracy, suggesting that positive discussions should also be embraced in order to foster a healthy democratic environment. He asserted that through comprehensive reforms, India transitioned into the world’s fifth-largest economy and expressed confidence in achieving the status of the third-largest economy in the near future.
Modi acknowledged that past administrations only enacted reforms under external pressure, stating, “Today, India is doing this kind of reform out of conviction.” He remarked on the slow progression of justice reform, but noted that tangible improvements were apparent within months of implementing the Bharatiya Nyaya Sanhita, showcasing the urgency for change.
In conclusion, Prime Minister Modi’s recent statements highlight a significant shift in governance philosophy, aiming to minimize the state’s role and foster a business-friendly environment. The introduction of a deregulation commission, alongside various reforms, signifies a strategic move towards enhancing efficiency and encouraging economic growth. The emphasis on conviction-driven reforms is positioned to reshape India’s economic landscape.
Original Source: www.hindustantimes.com
