Narendra Modi Announces Formation of Deregulation Commission to Boost Economic Growth
| Aspect | Details |
|---|---|
| Deregulation Commission | Aims to minimize government interference in business and governance. |
| Objectives | Reduce bureaucratic hurdles, eliminate obsolete regulations, and encourage private sector participation. |
| Jan Vishwas 2.0 | Initiative to remove archaic rules hindering businesses. |
| Private Sector Participation | Government opening sectors like nuclear energy, space exploration, commercial mining, and power distribution. |
| Svamitva Yojana | Property rights reform using drone and GIS technology to provide legal documentation to rural property owners. |
| Impact of Svamitva Yojana | Unlocks assets worth ₹100 lakh crore, reduces property disputes, and enhances access to bank loans. |
| Performance-Oriented Politics | Focus on economic transformation and governance efficiency, helping 25 crore people rise out of poverty. |
| Income Tax Relief | Zero-tax threshold raised from ₹7 lakh to ₹12 lakh to support the middle class. |
| Banking Sector Reforms | Strategies to improve financial inclusion, banking stability, and credit access. |
| Mudra Yojana Impact | ₹32 lakh crore disbursed to small businesses; public sector banks recorded ₹1.25 lakh crore profit in nine months. |
| Economic Growth | India is currently the fifth-largest economy and is projected to become the third-largest soon. |