your password has been reset successfully, Please login again.

Know How Narendra Modi is Bringing Indian Economy Back on the Track

The Modi-led government is addressing all problems- monetary, social and environmental which are weakening the country’s growth.
BY Jaspreet Kaur
Feature Writer, BusinessEx
Sep 17,2019

Indian economy, which has enticed oodles of investors across the world, is trying to uplift itself in the adverse conditions. After the release of GDP this year, the economy is presumed to have slowed down massively, growing by 5 per cent only, lowest since the 4th quarter of the financial year 2013, according to the figures released by the government.    

GDP figures have been astonishing and raised questions as to how the economy will be coming back on the track. To repair the damage, Prime Minister Narendra Modi is planning out strategies to enable a positive growth in the economy. Further, the Modi-led government is addressing all problems- monetary, social and environmental which are weakening the country’s growth. 

Modi Government Aiming for a Better Economy 

Recently, the Indian government is taking initiatives to restore a positive and high-yielding economy. Alongside this, the government is trying to attain its motive of making India a $5 trillion economy. 


1. The merger of PSU Banks 


In the past, the public sector banks have faced monetary problems and further, the count of defaulters has raised in the market. Owing to this, the government has decided to integrate all PSU (Public Sector Undertakings) into four banks. 

With this move, banks can use capital optimally, lead effective operations and increase profitability.  

  1. FDI (Foreign Direct Investment) Policy 

 In a bid to shore up the business ecosystem, the Indian government has changed the FDI policy. To increase foreign participation, the regime relaxed local sourcing norms for foreign companies. This, in turn, has increased the interest of tech giant, Apple to foray in the country by next year. Further, the single-brand retail firms have been encouraged to set up online retailing stores besides initiating physical stores in the primary stage.

Besides this, the government has permitted 100 per cent FDI in the coal mining and contract manufacturing industry. Digital media is also brought to the attention and FDI has surged to 26 per cent. 

3.Reinforcing Textile and Realty Sector

In the past, the real estate sector has been badly hit and consequently, it has plummeted. To support the realty and textile sector, the government has eased regulations in the two industries. Introduction of RoDTEP, FTA and creating a window for mid-income housing are some of the moves taken by the central government recently. 

  1. E-mobility 

Owing to the rising air pollution in the country, the government is incentivizing companies to adopt the e-mobility concept. In Budget 2019, the government has allocated INR 100 crore for EV fund. Further, it has asked automobile companies to manufacture more electric vehicles to reverse the diminishing effects of pollution.   

To fix the economy, the government has made above-cited instrumental moves so far. 

Please add your Comment
SIMILAR Articles
April 03, 2020
The webinar unveiled important segments and tips that the entrepreneurs are overlooking in this dire ...More
By Jaspreet Kaur
March 31, 2020
Besides taking crucial business decisions, an entrepreneur is accountable for the welfare of his emp ...More
By Jaspreet Kaur
March 27, 2020
When opting work from home for all employees, there are a vast set of problems that an entrepreneur ...More
By Jaspreet Kaur
March 26, 2020
The Indian government has proclaimed a financial package covering various severely hit sectors in it ...More
By Jaspreet Kaur
March 23, 2020
the Indian government is stepping up and implementing strategies, over cautionary measures that it i ...More
By Jaspreet Kaur
March 19, 2020
As per the UN conference, the coronavirus outbreak may affect the global economy by $1-2 trillion in ...More
By Jaspreet Kaur
March 14, 2020
Women entrepreneurs are grabbing opportunity to make the most of it and embracing challenges that ar ...More
By Jaspreet Kaur
March 06, 2020
The Bengaluru-based commercial realty investment firm, Strata has received an offering of $1.5 milli ...More
By Jaspreet Kaur
March 04, 2020
Trell is a mobile application that helps the Indian users to share and ascertain personalized recomm ...More
By Jaspreet Kaur
February 24, 2020
Hyperlocal platforms are today helping kirana store owners to cope with the competition, initiated b ...More
By Jaspreet Kaur
February 21, 2020
The changing business ecosystem is speedily adapting innovation and seeks participating businesses t ...More
By Jaspreet Kaur
February 18, 2020
Edtech startup, PlanetSpark has raised INR3.2 crore in Pre-Series A funding round by Indian Angel Ne ...More
By Jaspreet Kaur