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Multiple Reforms introduced to ensure all round development.
India is embarking on ushering in game-changing reforms through the use of Jan Dhan, Aadhar and Mobile (JAM), a unique combination of three to implement direct transfer of benefits. This innovative methodology will allow transfer of benefits in a leakage-proof, well-targeted and cashless manner. There would be cut in subsidy leakages but not in subsidy themselves.
NDA Government has built a national consensus and introduced a Bill to amend the Constitution to implement the Goods and Services Tax (GST). The GST will put in place a state-of-the-art indirect tax system by 1st April, 2016. This will create a unified and common domestic market by replacing a confusing array of taxes and preventing their cascading effects.
The Government has started a unique scheme called Sansad Adarsh Gram Yojana, encourage MPs to take ownership of a village in their constituency and develop this as a model village. It motivates parliamentarians to ensure holistic development of their constituency rising above specific schemes.
The Government has approved the MoPNG proposal to supply pooled Natural Gas at uniform delivered price to all grid connected gas based fertilizer plants for urea production. It has also approved the scheme for utilization of stranded gas based power generation capacity which was a joint proposal from MoPNG and Ministry of Power and will help in revival of 16000 MW stranded gas based power plants.
With the easing of investment caps and controls, India’s high-value industrial sectors – defence, construction and railways – are now open to global participation. Policy in Defence sector has been liberalised and FDI cap raised from 26% to 49%.Portfolio investment in Defence sector permitted upto 24% under the automatic route.100% FDI allowed in Defence sector for modern and state- of- the- art technology on case to case labels.100% FDI under automatic route permitted in construction, operation and maintenance in specified Rail Infrastructure projects