PM Surya Ghar Yojana: ₹75,000 for Every Home, Green Job Sector Roadmap

Prime Minister Narendra Modi Addresses ‘Journey Towards Developed India’ Inaugural Session

Prime Minister Narendra Modi is addressing the inaugural session of ‘Journey Towards Developed India’ today, July 30, at Vigyan Bhawan in Delhi. This conference is being held post the Union Budget 2024-25 and is organized by the Confederation of Indian Industry (CII). The aim of the conference is to outline the government’s vision for development and the role of industry in this endeavor.

Key Points from PM Modi’s Speech:

1. Budget Tripled Compared to Previous Government: The previous government’s last budget was ₹16 lakh crore. Today, our government’s budget has tripled to ₹48 lakh crore. Compared to the previous government, the budget for railways has increased 8 times, highways 8 times, agriculture 4 times, and defense more than doubled.
2. Tax Relief for MSMEs: In 2014, MSMEs earning ₹1 crore had to pay an estimated tax. We have increased this limit from ₹1 crore to ₹3 crore. In 2014, MSMEs earning up to ₹50 crore had to pay 30% tax; today, this rate is 22%. Companies used to pay 30% corporate tax in 2014; today, companies with income up to ₹400 crore pay a rate of 25%.
3. Focus on Good Governance: It’s not just about increasing budget allocations or reducing taxes; it’s about good governance. Before 2014, large announcements were made to show the economy was doing well, but these announcements could not be realized. Infrastructure budgets were also not fully spent. Over the past 10 years, we have changed this situation. The pace and scale at which our government is building infrastructure is unprecedented.
4. Global Role Model During COVID: Even during global uncertainty, India’s foreign exchange reserves have significantly increased. India is the only country with high growth and low inflation. Despite the pandemic, India’s financial prudence has been an example for the world. India’s share in global growth has increased to 16%.
5. 25 Crore People Lifted Out of Poverty: Today, the country is moving with the resolve of a developed India. In the last 10 years, 25 crore people have been lifted out of poverty. We are focusing on the ease of living and quality of life for our citizens.
6. Focus on Skill Development and Employment: With Industry 4.0 in mind, we have focused on skill development and employment. Today, the mood among the youth is that they have to do something on their own. Whether it’s the Mudra Yojana, Startup India campaign, or Standup India, these are helping the youth.
7. Over 8 Crore Benefited from Mudra Yojana: More than 8 crore people have started businesses for the first time with the help of the Mudra Yojana. Today, there are nearly 1.40 lakh startups in the country, employing lakhs of youth.
8. PM Package Benefits Over 4 Crore Youth: The ₹2 lakh crore PM package announced in this budget is being praised everywhere. More than 4 crore youth will benefit from this. The vision is clear: India’s workforce should be globally competitive, and its production should also be globally competitive in terms of quality and value.
9. Clear Intent and Commitment: We have also introduced an internship scheme. We have ensured that those who generate employment are incentivized. Therefore, the government has announced an incentive for EPFO contributions. The intent and commitment of our government are very clear.
10. Simplified FDI Rules: In the last 10 years, how India’s manufacturing has transformed. We started initiatives like Make in India, simplified FDI rules, established multi-modal logistics parks, and launched the PLI scheme for 14 sectors.
11. Investment Ready Plug and Play Industrial Parks in 100 Cities: The budget announced the creation of investment-ready plug and play industrial parks near 100 major cities. These 100 cities will become new growth hubs for developed India. Our major focus is also on MSMEs, which provide employment to crores of people. A new credit guarantee scheme for MSMEs has been launched in this budget.
12. Farmers to Get Land Aadhaar Cards: The allocation for nuclear energy production has been increased in the budget. We are also going to create digital public infrastructure in agriculture. Farmers will be given land Aadhaar cards to provide the number of their land holdings. A venture capital of ₹1000 crore has been announced for the space economy.
13. India Becomes a Leading Mobile Manufacturer and Exporter: Today, any country that establishes its place in the semiconductor value chain will play a significant role in the future. That’s why we are advancing this industry in India. Today is the era of the mobile manufacturing revolution. India, once a country that imported mobile phones, has today become one of the top mobile phone manufacturers and exporters in the world.
14. ₹75,000 under PM Solar Home Scheme: We have prepared a roadmap for the green job sector in India. We are following fields like green hydrogen and electric vehicles. The PM Solar Home Scheme is a huge initiative. The government is going to provide ₹75,000 to each home. This will be a significant revolution in itself.
    

Over 1000 Participants Attended the Conference

According to a statement from the Prime Minister’s Office, more than 1,000 participants from various fields, including industry, government, diplomatic community, and think tanks, attended the conference. Many people were also connected through CII centers in India and abroad.

PM Modi’s Post-Budget Remarks

Following the budget, Prime Minister Modi stated, “The budget ensures inclusive growth for developed India. Moreover, this budget benefits every section of society and opens the path to developed India.”

Finance Minister Presented the Budget on July 23

Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25 in Parliament on July 23. According to the Ministry of Finance, the budget outlines strong plans focusing on jobs, MSMEs, the agriculture sector, startups, and economic growth amidst global uncertainty.

What is the Confederation of Indian Industry?

Established in 1895, the Confederation of Indian Industry (CII) is a non-governmental, non-profit, industry-led, and industry-managed organization. This institution plays an active role in India’s industrial development process. The organization’s headquarters is in Delhi.