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Prime Minister Narendra Modi, on Sunday, termed new India as the “best destination for India”. He also said that the new health insurance scheme, Ayushman Bharat, has opened new doors for profitable investment.
“Amid changes happening all around, investment environment is best in India,” said Modi, while inaugurating the fist-ever Uttarakhand Investors Summit 2018 here. He said that many multilateral agencies expect India to become the engine of world growth in the next few decades. India is witnessing not just economic changes but also social changes.
Listing the reforms initiated by the Centre and States, he said that more than 10,000 initiatives have been taken so far in the last two years by both governments. “Fiscal deficit [difference between income and expenditure of the government] is low, inflation is under control, and the middle-class has expanded,” he said.
He mentioned that roads of more than 10,000 kilometers have been laid, which means 27 kilometers per day. This is almost double when compared to the previous regime. Indian Railways is also witnessing infrastructure development at a double-speed, with the modernisation of 400 stations progressing well. Work is also on to construct 100 airports/heliports and 100 new waterways, he added.
The government has scrapped over 1,400 old laws, and the tax system has been reformed with the introduction of the Goods and Services Tax (GST). The Insolvency & Bankruptcy Code (IBC) has made doing business easier, and banks have regained strength, said Modi.
Ayushman Bharat
Talking about Ayushman Bharat, Modi said that the insurance scheme will provide new investment opportunities, especially in Tier II and III cities. These cities will require not just hospitals but also healthcare infrastructure, which means more investment and employment opportunities. “ Payment under the scheme is guaranteed by the government, which will give assured returns to investors,” said Modi.
The scheme aims to provide healthcare facilities to over 10-crore families, or 50-crore citizens, which is considered to be biggest government-sponsored healthcare scheme in the world, with an insurance cover of ₹5 lakh free of charge to the poor.
Healthy competition
Highlighting the significance of the federal structure, the Prime Minister said that each State has the potential to do better than the country as a whole. Each State has its own strength, and if they act upon that, it will benefit not just that particular State but the entire nation.
“There has been healthy competition among States to attract investments, and they are doing this through unique features,” said Modi.
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