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Indian policy of taming poverty with growth ‘a model for others’

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United Nations: India’s success in eradicating poverty through sustained economic growth will be a model for other developing countries, the UN’s Economic and Social Council (ECOSOC) was told.

“India’s success in sustaining robust economic growth to eradicate poverty will bring forth technologies and pathways to progress that can be shared with other developing countries to enable them to also achieve sustainable development,” India’s delegate Mansukh L. Mandaviya said on Monday.

Mandaviya, a Bharatiya Janata Party member of the Rajya Sabha from Gujarat who is also member of the Indian delegation to the UN, added that India’s success “will contribute in no small measure to the global achievement of the Sustainable Development Goals (SDG)”.

The SDG adopted at the summit of world leaders last month has set a target of eliminating poverty by 2030. Of 896 million people worldwide who lived on less than $1.90 a day — the international poverty level — 259.5 million or 29 percent were in India, according to statistics cited by the World Bank. Therefore, India’s success in eradicating poverty would contribute significantly to achieving the SDG.

To achieve this goal, Prime Minister Narendra Modi’s government “has renewed its efforts to return India to a high growth trajectory, promote job rich industrial development through rapid skill development of our young populace, promote financial inclusion, protection and welfare of the girl child, agricultural renovation, and a massive drive for improved sanitation,” Mandaviya said.

However, Mandaviya linked the high growth trajectory to the goals of protecting the environment and fighting climate change.

“Modi has spoken of achieving the same level of development, prosperity and well being without going down the path of reckless consumption and his belief is that by doing so, it doesn’t necessarily mean that our economies will suffer, but rather that they will take on a different character,” he said.

As “evidence of our seriousness for addressing the environmental sustainability of our growth”, Mandaviya cited India’s plans to add 175 gigawatts of clean and renewable energy, make its energy-use 33 to 35 percent more efficient by 2030, and create additional forest resources capable of absorbing 2.5 billion to 3 billion tonnes of carbon dioxide.

“Even though we did not create the (climate change) problem, India has every intention of being a part of the solution when it comes to climate change,” Mandaviya said.

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Now India is One of The Most Open Countries for FDI: Narendra Modi

Modi had conceptualised the summit as Gujarat Chief Minister in 2003 to position the state as an ideal investment destination after the 2002 riots.

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Prime Minister Narendra Modi on Friday said that his government had made doing business in India easier, cheaper, faster and smarter with his term accounting for almost 45 per cent of the Foreign Direct Investment (FDI) that the country received in the last 18 years.

Speaking at the inaugural function of the Vibrant Gujarat Global Summit 2019 here, he said India was now one of the most open countries for FDI with over 90 per cent approvals put on the automatic route.

“In the last four years, we have received FDI worth $263 billion. This is 45 per cent of the FDI received in last 18 years,” Modi told the gathering.

He said India was among the top 10 FDI destinations.

FDI
PM Speaks on FDI www.news.civilserviceindia.com

Modi, who is on a three-day visit to his home state to throw open his pet biennial Vibrant Gujarat Global Summit, said the India of today was a land of “immense opportunities” being the only place that offered democracy, demography and demand.

“Fifty cities in India are ready to build metro rail systems. We have to build 50 million houses. The requirement of road, rail and waterways is enormous. We want world class technologies to achieve our goal in a faster and cleaner way. India is thus, a land of immense opportunities.” he said.

The Prime Minister said the challenge for India, as in most emerging economies, was to grow horizontally as well as vertically to ensure that the benefits of development spread to regions and communities that have lagged behind while also meeting enhanced expectations in terms of quality of life, quality of services and quality of infrastructure.

“We are well aware that our achievements, here in India, will directly impact one sixth of humanity.”

Modi said his government had removed the barriers which were preventing India from achieving its full potential and now it was ready for business like never before.

The government has made doing business easier. cheaper, faster and smarter, he said.

“In the last four years, we have jumped 65 places in the global ranking of World Bank’s Doing Business Report. From 142 in 2014 to 77 now, but we are still not satisfied. I have asked my team to work harder so that India is in the top 50 next year.

“We have also made doing business cheaper. The historic implementation of Goods and Services Tax and other measures of simplification and consolidation of taxes have reduced transaction costs and made processes efficient.

“We have also made doing business faster through digital processes, online transactions and single point inter-faces,” he said.

According to LocalCircles, each person who voted in the survey is registered with the portal with their detailed information and in many cases they shared their residential address.
Doing business in India now easier, cheaper, faster, smarter: Modi

He said his government had made doing business smarter by insisting on IT based transactions and digital payments including direct transfer of government benefits.

Modi added that he understood that being a young nation, India needs to create job opportunities and better infrastructure, which are both linked with investments.

“Therefore, in recent years, there has been unprecedented focus on manufacturing and infrastructure,” he said.

Listing the achievements of his government, he said for the first time, India had become a net exporter of electricity, had installed transmission lines at an unprecedented pace and had doubled the speed of road construction with rural road connectivity now at 90 per cent.

Also Read: PM Narendra Modi to Unveil National Film Museum in Mumbai

“At 7.3 per cent, the average GDP growth, over the entire term of our government, has been the highest of any Indian government since 1991. At the same time,the rate of inflation at 4.6 per cent is the lowest for any Indian government since 1991, when India began its process of liberalisation,” he said.

Modi had conceptualised the summit as Gujarat Chief Minister in 2003 to position the state as an ideal investment destination after the 2002 riots. (IANS)