India has potential to become a USD-15 trillion economy by 2034 .

✓India has potential to become a USD-15 trillion economy by 2034 .

✓Per capita income close to USD-10,000 by 2034.

India is a fastest growing economy in the world.India has huge potential to become a $15 trillion economy by 2034 & per capita income close to USD10,000 by 2034.

Yes, it is possible in next 10-12 yrs.india needs to focus on -Agriculture sector,R&D,High Speed Rail Network,betters roads connectivity  & Renewal energy.

Agriculture sector-we know India is a agro based country,approx 60% of Indian population work in the agro sector,it contribute 18-19% to India's GDP.

We also know Agriculture the key sector for overall growth in agriculture-based countries. Agricultural growth has strong growth linkages to other economic sectors(industry and services). When agricultural incomes are spent on domestic market,  it stimulates demand for domestic industry and services.

India needs reforms in agriculture sector.

India needs supply side reform,this  initiatives can save  multi billion dollar annually-

✓Reforms can reduce multi  billion-dollar  Post-harvest losses - Agri import bill. 

✓Reforms can save multi  billion-dollar Fuel -Electricity -NPAs in Farm loans -Fertilizer-Seeds- Pesticides by cutting waste.

✓Reforms can boost agri export,can generate  billion dollar revenues. 

✓Reforms can help to reduces excessive water consumption- farmer suicides -agririon riots - fiscal deficit.

We know India's agricultural subsidy bill  2.5% of GDP, $70 billion dollars.

R&D-Innovation drives Economic Growth,

every  $1 investment in R&D generates $20 in economic activity.

But ,India’s gross expenditure on Research and Development (R&D) is very low .it's only 0.8% of its GDP, when calculate per capita, it’s one of the lowest in the world.where as Israel invest approx 5%($18 billion) of its GDP on R&D ,USA invest 2.7%($470 billion ),china  invest 2.30%(412 billion ) of its GDP on R&D, Japan 3.3% ( $150 billion), Germany 3% ( $105 billion) ,South Korea. 4.2% of its GDP ($76 billion). 

I think india  needs to invest  at least 2.5%  of its GDP (65-70 billion USD) in R&D from the current level 0.8%.

I firmly believe that,  india may become a global  leader in innovation by  2025,india could improve its rank from 60 to top 10....if india manage to invest   2.5% of its GDP in Research & Development (R&D ).

This simple initiative will help India to reduce trade deficit,india's export economy can hit $ 3 trillion mark  with  in next 10 years.

High Speed Rail Network-Indian Railways is often called the lifeline of the nation.But Indian railways speed very low,average speed of freight trains is 24-30 km per hour whereas passenger trains run at 44-50 km per hour. 

So,India needs speed revolution.India should go for  high-speed Rail network.

High speed rail projects have the potential to reduce transportation costs, cut oil use, relieve highway and air traffic congestion, enhance other forms of public transportation, increase land values, and spur economic development in large and small communities.

So,without high speed India can't achieve USD-15 trillion economy by 2034.

India has potential to attract USD 170 billion FDI per year by 2025.

India has potential to attract USD 170 billion FDI per year by 2025.

Make in India is a one of the major national programme of Modi govt designed to facilitie investment, foster innovation, enhance skill development, protect intellectual property and build best in class manufacturing infrastructure in the country.

Make in India & FDI inflows-
Make in India, the flagship program of the Modi govt,that has completed eight years on 25 September 2022.And India is on track to attract US$ 100 billion  FDI in the current financial year. 

Make in India launched in 2014 under the dynamic leadership of the Hon’ble Prime Minister Shri Narendra Modi, ‘Make in India’ is transforming the country into a leading global manufacturing and investment destination. The initiative is an open invitation to potential investors and partners across the globe to participate in the growth story of ‘New India’.  Make In India has substantial accomplishments across 27 sectors. These include strategic sectors of manufacturing and services as well. 

To attract foreign investments, Government of India has put in place a liberal and transparent policy wherein most sectors are open to FDI under the automatic route. FDI inflows in India stood at US $ 45.15 billion in 2014-2015 and have since consecutively reached record FDI inflows for eight years. The year 2021-22 recorded the highest ever FDI at $83.6 billion. This FDI has come from 101 countries, and invested across 31 UTs and States and 57 sectors in the country. On the back of economic reforms and Ease of Doing Business in recent years, India is on track to attract US$ 100 Billion  FDI in the current Financial year.

India can attract $170 billion FDI annually by 2025-
India can expect to attract  USD170 billion of FDI annually by 2025,when India's GDP expected to reach USD 4.50 trillion from current level USD 3.50 trillion.

Effect of Make in India campaign -

1) India improves  "rank in ease of doing business" according to World Bank report has improved from 142 in 2014 to 63 in 2020.

2) FDI -Modi govt received 75% more FDI against 10 yrs of Manmohan govt.

Under 10 yrs of  Manmohan govt India got total FDI $300 billion.

Under 8 yrs of Modi govt ,FDI received $525 billion.India can expect total FDI $750-$800 billion under 10 yrs of Modi sarkar.

3) Due to make in india campaign the manufacturing sector is expected to reach US$ 1.15 trillion by 2025 and contribute about 25% to India's GDP from current level 17%.

4) Mobile Phone manufacturing -2014, over 92% of Mobile phones used in India were imported; today, over 97% of mobile phones used in India are made in India. According to industry body India Cellular and Electronics Association,  India has reduced dependency on mobile imports to around five percent in FY22, from as high as 78 percent in 2014-15. India aims to export 60 billion dollars of cell phones by 2025-26.

5) Defence export-In the 2021-22 fiscal, India's defence exports touched a record Rs 13,000 crore, which was nearly eight times that of the 2014 figure. India aims to achieve defence exports worth Rs 35,000 cr by 2025.

'Make in India' will make India a global manufacturing hub & contribution of manufacturing in GDP will 17% to 25% in next 5-6 yrs.Make in India' will help India to become a  USD 10 trillion by 2032.

India’s Logistics Policy Will Accelerate Economic Growth, Increase Its Participation In Global Trade.

On his 72nd birthday, Hon'ble Prime Minister Narendra Modi launched the much-awaited National Logistics Policy . The policy emphasises on reduction of logistics cost, promoting seamless movement of goods and improving competitiveness of Indian goods in domestic and global markets.

Why India need a new policy for logistics sector?

During the launch of the National Logistics Policy, PM said that over the past eight years, the government had been working towards improving connectivity through ‘systemic infrastructure development’ with schemes such as Sagarmala, Bharatmala.

However, logistics cost, which includes transportation, warehousing, inventory, and order processing cost, continues to remain a pain point, considering that higher costs not only adds to the transportation time, thereby making the final price of the goods more expensive, but also hurts competitiveness of domestic goods in the global market. The government aims to address most of these issues through the use of technology and a strict monitoring system.

The policy, which has been in the works for around three-four years, has been brought in tandem with the PM’s ambitious GatiShakti national master plan that was launched to build robust infrastructure and fill the missing gaps in logistics that will ultimately draw more investments into the country.

What are the main objectives of National Logistics policy?  

We know Logistics cost in India is high as compared to other developed economies. India’s logistics cost as a proportion of gross domestic product (GDP) is believed to be around 13-14 per cent. The government aims to bring it down to single digits as soon as possible. Besides, the endeavour is to be among the top 25 countries by 2030 in the global Logistics Performance Index ranking. India was ranked 44th in the last edition of the index.

I think National Logistics Policy will help india to become a global manufacturing hub, India could expect $180-$200 billion FDI in next 7-8 years.

National Logistics Policy will help india to become a USD 10 trillion economy by 2032 ,USD 20 trillion economy by 2040 & USD 30 trillion economy by 2047.

India will be developed nation with more than $21000 Per capita income by 2047.

NEW INDIA- GAUSHALA ECONOMY-Khadi Prakritik Paint (made from cow dung) a revolution in Indian paint industry,will become ₹10,000 crore industry in next 6-7 years.

NEW INDIA- GAUSHALA  ECONOMY-Khadi Prakritik Paint (made from cow dung) a revolution in Indian paint industry,will become  ₹10,000 crore industry in next 6-7 years.

NEW INDIA- GAUSHALA  ECONOMY.

Khadi Prakritik Paint (made from cow dung ) will become  ₹10,000 crore industry in next 6-7 years.

we know Niti Aayog working on road map to develop gaushala economy ....I think this project should start from village panchayat level, i think every village should have a gaushala which can be constructed with the help of local administration panchayats.

I think Gaushala may be key way to double farmers income by 2025.

✓khadi & village industries made  Paint from cow dung-

We know 12 Feb 2021,Modi govt launched eco-friendly and non-toxic paint from cow dung. The paint manufactured by the Khadi and Village Industries Commission(KVIC), the paint has successfully passed various test parameters such as application of paint, thinning properties, drying time and finish, among others. It dries in less than 4 hours, and has a smooth and uniform finish.

The Khadi Prakritik Paint is available in two forms—distemper paint and plastic emulsion paint.  The paint is priced at only Rs. 120 per litre for the distemper, and Rs. 225 per litre for the emulsion, which is less than half of what is charged by big paint companies.

Khadi India announced on Twitter that within just one month of its launch, total of 5000 liters of the Khadi Prakritik Paint has been sold and 275 prospective entrepreneurs have registered with Kumarappa National Handmade Paper Institute (KNHPI) for training in making cow dung paint.

To make it a pan-India initiative, KVIC plans to set up paint factories in villages across the country. The commission aims to establish 500 manufacturing units within the next six months with the help of prospective entrepreneurs in various villages across the country.

I think  the Khadi Prakritik Paint (made from cow dung ) will become a ₹10,000 crore industry in next 6-7 years ....It will help to double  farmers income.

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New India-India sees Major Infrastructure Projects Under The Modi Govt.

New India-India sees Major Infrastructure Projects Under The Modi Govt

We know Infrastructure development  has been recognized as one of the most important parameters of economic growth.we know Re1 investments on infra-

structure development creat Rs50 economic activities. We know infrastructure has multiplier effect on industries like steel, cement, construction material, coal, power,transport etc. 

We know infrastructure development top priority of Modi Govt.we also know modi govt spent Rs 91 lakh crore since 2014 on infra & social sector.Modi government has launched a number of important  infrastructure projects in the country.

10 Top infrastructure projects 

1) Bharatmala Project: This is Narendra Modi’s Rs 14,000 crore project linking India’s vast west-to-east land border from Gujarat to Mizoram. It will also link to a road network in coastal states from Maharashtra to West Bengal. In a way, this road network will garland the entire country. Modi government is planning to finish the 5000-km road project in 5 years.

2) Sagarmala Project: It aims to promote port- led direct and indirect development and provide infrastructure to transport goods to and from ports quickly, efficiently and cost- effectively. The project is estimated to cost around Rs 12,00,000 crore. The government wants to implement the projects worth Rs 5,00,000 crore under the ambitious programme by May 2019.

3). Inland Waterways: Modi government has planned to develop inland waterways including rivers like Ganga, Brahmaputra and Mahanadi. The government is spending around Rs 4,000 crore for developing waterway facilities in Ganga. The government would also invest Rs 50000 crore for development of Paradip port. An additional amount of Rs 8200 crore would be used for developing a new port at Paradip.

4). Arunachal Pradesh on rail map: Modi government has brought Arunachal Pradesh on the railway map of India with India’s longest rail-cum-road bridge — the 4.94-km long Bogibeel bridge over Brahmaputra. Modi government also aims for converting all meter-gauge tracks in the northeastern states to broad-gauge. In Arunachal, the Centre has started location survey to connect Tawang, Aalo, Pasighat with broad gauge railway networks.

5). Highest bridge of the world on river Chenab: The government is building the tallest bridge in the world over river Chenab at Doda (359 metre above the river). The bridge would be built at a cost of Rs 1198 crore. After construction, it will surpass the current record held by Beipan river Shuibai railway bridge (275m) in Guizhou province of China.

6) Setu Bharatam project: The Rs 50,800-crore Setu Bharatam project aims to ensure highways without railway crossings by 2019 and overhaul of 1,500 British-era bridges. Under the project, 208 railway crossings will be replaced by rail over bridges (ROBs) by 2019 at an estimated cost of Rs 20,800 crore. Also, 1,500 bridges of the British era across the country will be overhauled for around Rs 30,000 crore.

7). Mumbai Trans Harbour Link, Shivaji Memorial: This will be country’s longest sea bridge at 22.5 km. It will connect Mumbai’s eastern suburbs with the mainland across the harbour through a 16.5 km sea bridge and a viaduct. The project will cost around Rs18,000 crore and completed by 2019. It will connect Sewri in central-east Mumbai with Nhava Seva across the harbour. The BJP government is also building a Rs 3600 crore grand memorial of Chhatrapati Shivaji in Mumbai.

8) Rashtriya Rajmarg Zila Sanjoyokta Pariyojna: This project aims to connect 100 of the 676 district headquarters in the country with world-class highways. The project entails development of 6,600 km of highways at an estimated cost of about Rs 60,000 crore.

9) Gujarat-Gorakhpur gas pipeline: Government-owned Indian Oil Corporation (IOC) is laying India’s longest LPG pipeline from Kandla coast in Gujarat to Gorakhpur in eastern Uttar Pradesh. The 1987-km pipeline will carry 3.75 million tons per year of LPG and move from Kandla to Gorakhpur via Ahmedabad, Ujjain, Bhopal, Kanpur, Allahabad, Varanasi and Lucknow.

10) Chardham-Highway Project: The Chardham Mahamarg Vikas Pariyojna, or the Chardham highway development project, is an ambitious initiative to improve connectivity to the Char Dham pilgrimage centres in the Himalayas. The project’s main objective is to develop around 900 km of national highways. These highways will be built in Uttarakhand at an approximate cost of Rs 12,000 crore.

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Ref-Govt spent Rs 91 lakh crore since 2014 on infra, social sector schemes>businesstoday.in>10 Apr 2022.

 

Who got more FDI? - Manmohan or Modi? Modi govt recieved 75% more FDI against 10 years of Manmohan govt.

Who got more FDI? - Manmohan or Modi ?

Modi govt recieved 75% more 💰FDI against 10 years of Manmohan govt.

#Key points-

✓Total FDI inflows under 10 year tenure of Manmohan govt💰 $300 billion, average  $30 billion per annum(FDI worth per day in indian currency Rs600 crore).

✓Total FDI inflows under 8 year tenure of Modi govt 💰$525 billion, average  $65 billion per annum (FDI worth per day in indian currency Rs1330 crore).

✓India received $83.57 billion FDI 2021-22,the highest so far.India can attract $160-$200 billion FDI annually due to various economic reforms,large investment in  infrastructure and increased ease of doing business. 

Modi hai to mumkin hai-India to become $5 trillion economy by 2025

Modi hai to mumkin hai-India to become $5 trillion economy by 2025.

On 15th August 2019, Independence Day Speech, Prime Minister Narender Modi expressed confidence that India would be a $5-trillion economy in 2024,India will become the third-largest economy in the world.

The focus is on boosting 

✓services sector contribution to $ 3 trillion

✓manufacturing to $ 1 trillion and 

✓Agriculture to $ 1 trillion.

But covid -19 situation & worldwide economic slowdown in this context, many critics have questioned the feasibility of India achieving $5 trillion economy status by 2024?

India's GDP is currently estimated at around USD 3.2 trillion.As per my estimate, India needed to grow on average at 8.5 per cent per year in real terms up to 2025  to achieve the target of 5 trillion dollar economy.

I  think it is possible under Modi administration, believe India will $5 trillion economy by 2025 or 2026.

We know Modi government is working towards making India a $5 trillion dollar economy by 2025. Strongly  believe India has huge  potential to grow at 10-11% per annum for next 10 years.

 

Impact of Modi Govt, Khadi & Village turnover crosses 1.15 lakh crore, beats all FMCG companies

Khadi and Village Industries Commission (KVIC) has become the first organisation in India in the FMCG category to have a turnover of over Rs 1 lakh crore.Khadi and Village  turnover reach Rs 1.15 lakh crore in the financial year ended March 2022.

Thanks to the constant support of  Hon'ble Prime Minister Shri Narendra Modi, KVIC has, for the first time, clocked a massive turnover of Rs 1.15 lakh crore,In FY 2021-22, the overall turnover of KVIC stood at a whopping Rs 1,15,415.22 crore as compared to Rs Rs 95, 741.74 crore in the previous year, 2020-21.KVIC has thus registered a growth of 20.54% from the year 2020-21. Compared to the year 2014-15, Khadi and Village Industry sectors turnover in 2021-22  increased by over 260%.

✓2014-15 KVIC turnover  Rs 31,965 cr.

✓ 2021-22 KVIC turnover  Rs 1,15,415 cr.

In year 2021-22 ,Rs 1.15 lakh cr this massive turnover of KVIC has come despite partial lockdown in the country in the first 3 months, i.e. April to June in 2021, due to the second wave of Covid-19 pandemic.

 We all are aware that for the last several years, our PM Narendra Modiji has left no stone unturned to popularize Khadi and create a mass movement where everyone purchases Khadi products, specially on the special day of Gandhi Jayanti 2nd oct. Modi has always been promoting Khadi and has also mentioned it in his tv & radio address multiple times. His Mann Ki Baat gives utmost importance of Khadi and its role in the empowerment of the countrymen.

I think khadi & village Industries sales could reach 3 lakh cr by FY25.

 

Prime Minister MUDRA Yojana is a revolutionary scheme Under the Modi Govt.

Prime Minister MUDRA Yojana is a Revolutionary Scheme Under The Modi Govt.

Success story of the PM MUDRA  loan

In Last 7 years.

✓Total Beneficiaries - 34.42 Crore (344.2 million).

✓Total Loan sanctioned-Rs 18.60 Lakh crore (USD 250 billion).

✓Per day beneficiaries over 1.34 lakh 

✓Per day loan sanctioned more than Rs 728 crore.

the number may increase ,if we cosidered worked day (8Apl'15 to 8Apl'22).

✓per day loan may be around Rs 1010 crore 

 ✓per day beneficiaries around 1.87 lakh.

About PM MUDRA Yojana

Mudra Yojana is a scheme launched by Hon'ble PM on April 8,2015 for providing loans upto Rs10 lakh or $15000 to the non corporate,non farm small/micro enterprises.

✓No collateral or security is required for availing MUDRA loan.

✓No processing fee charged from the borrower.

Categories of Mudra loan

Collateral free business loans offered under Mudra Yojana come in three loan categories,named Shishu, Kishore and Tarun.

Three categories 

1.Shishu loan up to 50000.

2.Kishor loan up to  50000 to 5 lakh.

3.Tarun loan 5lakh to 10 lakh.

Impacts of the PM Mudra Yojana (PMMY)

Ministry of Labour and Employment (MoLE) has conducted a large sample survey at the national level to estimate employment generation under PMMY. As per the survey results, PMMY helped in generation of 1.12 crore net additional employment during a period of approximately 3 years (i.e. from 2015 to 2018). At an overall level, Shishu category of loan has about 66% of share among additional employment generated by establishments owned by MUDRA beneficiaries followed by Kishore (19%) and Tarun (15%) categories respectively.

As per survey report,loans have been given to disadvantaged sections of society such as women entrepreneurs, SC/ST/OBC borrowers, Minority community borrowers, etc. Out of the 1.12 crore net additional employment, women accounted for 69 lakh (62%).

So, no doubt PM Mudra Yojana one of the revolutionary scheme of the Modi govt.

The Export revolution under the Modi Government.

India achieved its highest ever goods export target of $400 billion on March 23 nine days ahead of schedule.  Asia's third largest economy had set this ambitious export target for FY22. 

Export increased by 37% to USD 400 billion during Apri-March 22, 2021-22 against $292 billion 2020-21.

According to hon'ble PM “India set an ambitious target of $400 billion of goods exports and achieves this target for the first time ever. I congratulate our farmers, weavers, MSMEs (micro, small and medium enterprises), manufacturers and exporters for this success,".

Modi's Ujjwala Effect: over 1.5 lakh lives saved in a year, 13% reduction in air pollution deaths.

Modi's Ujjwala Effect: Research found over 1.5 lakh lives saved in a year, 13% reduction in air pollution deaths.

In May 2016, Ministry of Petroleum and Natural Gas , introduced the ‘Pradhan Mantri Ujjwala Yojana as a flagship scheme with an objective to make clean cooking fuel such as LPG available to the rural and deprived households which were otherwise using traditional cooking fuels such as firewood, coal, cow-dung cakes etc. Usage of traditional cooking fuels had detrimental impacts on the health of rural women as well as on the environment.

The scheme was launched on 1st May 2016 in Ballia, Uttar Pradesh by Hon’ble Prime Minister of India, Shri. Narendra Modi with slogan of ‘clean fuel and better life’.

According to the WHO, smoke from a stone causes the same harm as burning 400 cigarettes in an hour. According to WHO more than 5 lakh women have to lose their lives every year due to cooking with fossil fuel in India.

Achievement

Total 9 crore connection released under Pradhan Mantri Ujjwala Yojana as on 31 Jan 2022.

Effect of this program

The effect of this program of the government is being seen that due to the use of LPG gas for cooking, 1.5 lakh lives have been saved out of pollution deaths in the year 2019 itself.

PM 2.5 emissions reductions are estimated to be at least 1.8 million tonnes that year due to the Pradhan Mantri Ujjwala Yojana.

Ajay Nagpure, Ritesh Patidar and Vandana Tyagi, who have been working in the field of environment for a long time, have been working for the World Resource Institute (WRI) India for a long time. All three have done this study. Nagpure has done his PhD from IIT Roorkee and has been working on environmental pollution for 18 years. Before coming to India in 2019, he worked with the Center for Science, Technology and Environmental Policy at the Hubert Humphrey School of Public Affairs at the University of Minnesota.

Vandana Tyagi is also an environmental engineer and was a Research Fellow at IIT Roorkee. Patidar, who graduated in 2017 from the same institute, is researching sustainable clean cooking energy solutions, air pollution and related policies. These researchers believe that the benefits of the Ujjwala scheme that are being told can actually be more than that.

West Bengal can expect $20 billion investment in Logistics sector in next 10 yrs.

 

West Bengal can expect $20 billion investment in ware housing and logistics sector in next 10 years.

The logistics sector is likely to be the backbone of economic development in West Bengal .The sector could attract investment worth $20 billion and it could generate jobs 1 million by using the state’s unique locational advantage and  vast network of rail, road and port.Prime location may be -Dankuni,Kharagpur,Haldia,Tajpur,Durgapur,klayani and Siliguri.

We know West Bengal's strategic location makes gateway to South East Asia and Eastern, North Eastern and South India .

We also know ASEAN-INDIA trade like to touch USD 200 Billion by 2021 and may be  $500 bn by 2025.....wb can play a key role in INDO -ASEAN international trade due to its statigic location.

✔️WHY BENGAL NEEDS LOGISTICS  HUB & BiG INVESTMENT ???

Wb has huge potential to grow as a logistics  hub.

 (1)Upcoming MAJOR ECONOMIC CORRIDOR.

A)Three🚆🚆🚆Dedicated Freight Corridor in WB.

    proposed freight Corridor expected to carry about 600 million(60 cr tonnes) tonnes of freight per annum.

I)    🚆Eastern Dedicated Freight Corridor- Dankuni to Ludhiana.

Il)   🚆East coast Freight corridor- kharagpur to Vijayawada.

III) 🚆East-West Dedicated Freight Corridor- Kolkata to Mumbai.

B)🌍BCIM Economic Corridor-The Bangladesh, China, India and Myanmar Economic Corridor.Trade  potential of BCIM Economic  corridor around  $150 billion.

The 2800 km proposed corridor will cover 1.70 million square kilometres, encompassing an estimated 600 million(60 cr) people in China's Yunnan province(kunming), Bangladesh(Dhaka ), Myanmar(Mandalay), and West Bengal(Kolkata ) in Eastern India through the combination of 🚛road,🚆 rail, 🚢water and✈ air linkages in the region. 

(2)Upcoming DEEP SEA PORT in Wb.

l)Tajpur and ll) Kulpi.

Expected Annual cargo tonnage 100million tonnes.Existing sea port kolkata and Haldia annual cargo tonnage approx 100 mt.

(3)Upcoming 1500acre ✈ AIRPORT at Kalyani, could handle lakh tonne  cargo.

(4)Major Industrial areas -

Major Industrial areas in West Bengal Suchas-KHARAGPUR Vidyasagar industrial park-  -HALDIA-ASANSOL -HOOGHLY-DURGAPUR-BURDWAN- RAGHUNATHPUR etc 

Outside of West Bengal such as -Jamshedpur industrial area,ANGUL industrial area ,Ranchi ,jharkhand etc directly depends on West Bengal.

(5)Major consumption Market 300-400million -

West Bengal ,North , North East and South India.

Big cities such as KOLKATA(metropolitan city),other big cities in West Bengal - Durgapur, Asansol, Burdwan,Siliguri , Kharagpur,Haldia and Howrah etc.

Other major cities, out side of West Bengal like-Bokaro steel city, Jamshedpura, Cuttack,Bhubneswar,Angul,Ranchi etc directly depends on West Bengal.

So,West Bengal has a Definite and Immediate potential to emerge as the Logistics Hub of South East Asia, East-North- South India.

Budget 2022 : Govt needs to focus on Infrastructure,Health, Agriculture and Export.

India is now USD 3.20 trillion economy and it aims to touch the USD 5 trillion mark by 2025.To achieve this target, Budget 2022 needs to focus on infrastructure, Health, Agriculture and Export.

Infrastructure

Union Finance Minister Nirmala Sitharaman will present the budget 2022 on 1feb 2022. I think infrastructure will be top priority.we know investment in infrastructure has strong impact on economic growth on any country.We know $1 investment in infra can generate $20 economic activities. We also know Agriculture, Manufacturing & Services sector directly related to infrastructure.

Health budget at lest 3% of GDP

We know medical debt a major cause of poverty in India.About 55 million Indians were pushed into poverty in a single year due to patient- care costs, as per a study by the Public Health Foundation of India.

So, Union budget 2022,needs to focus on healthcare segment ,public expenditure on the sector needs at least 3 per cent of the GDP in the upcoming union budget.

Agriculture Budget

over 55% of India’s population in rural areas and linked to farm incomes, any increase in rural growth will translate into economic growth for the country.So,a majority of Indians want agriculture to be the top focus areas of Finance Minister Nirmala Sitharaman's Union Budget 2022.

We know Union Government adopted a strategy to double the farmers' income by 2022.But,The average monthly real income of the all categories of farmer households at all-India level has actually declined from Rs. 6045 in 2012-13 to Rs. 5925 in 2018-19 . So, Union budget 22 needs to focus on agriculture & farmers income.

Export

Trade one of the key indicator of economic growth.But India is a trade deficit country.India depends on import rather than export.

According to Kotak Securities,the country’s trade deficit is expected to widen to $190 billion in the current fiscal year 2021-22, and further to $200 billion in the next fiscal year 2022-23.

We know India has set a target of $400 billion for merchandise exports for the current fiscal and an ambitious $1 trillion by 2030.But India achieved $300 billion in merchandise export from Apl -Dec 21.India's export fell faster among emerging countries,need strong budget boost.I think strategic incentives through

the  budget may help boost exports.i think India's export could reach $1.50 trillion by 2030.

PM Modi's vision- $2 trillion export economy by 2030.

Prime Minister  Modi's Vision, USD 2 trillion export economy by 2030.

Exports  play a major role in the economic development of any country. A developed economy is the one,which exports more than it imports.A developed economy is the one,which exports more than its imports.Higher exports draw more foreign remittances, creating more jobs and trade surplus. In a single word we can say higher exports  impove the overall economic growth of the country. 

We know Trade deficit one of the biggest issue in Indian economy.India has been recording sustained trade deficits since 1980 mainly due to the strong imports,partic ularly of mineral fuels,Vegetable oils, electronic component,

agro products,precious and semi-precious stones, and jewellery etc.

Since India opened its markets starting 1990-91, there has been an exponential rise in the country's foreign trade exposure – exports have increased more than 16 times and imports more than 19 times. In FY 2020-21, India's imports and exports stood at US$394.43 billion and US$291.80 billion, respectively.

PM Modi lead BJP govt set a target USD 2 trillion export economy by 2030.This could reduce trade deficit , India could reach as a trade surplus country by 2030.

Modi govt has taken several steps to boost export & Manufacturing sector. 

1. Make in India - Is the Modi govt flagship campaign , aims to make India the manufacturing hub of the world.

Make in India aims  to boost the domestic manufacturing industry and attract foreign investors to invest into the Indian economy.

 The  policy  was launched September 2014.The focus of Make in India programme is on 25 sectors. These include: automobiles, automobile components, aviation, biotechnology, chemicals, construction, defence manufacturing electrical machinery, electronic systems, food processing, IT & BPM, leather, media and entertainment, mining, oil and gas, pharmaceuticals, ports and shipping, railways, renewable energy, roads and highways, space, textile and garments, thermal power, tourism and hospitality and wellness.

We know FDI in India has followed a positive trend since the launch of make in India. Total  FDI inflow increased 69% ,USD  266 billion (2007-8 to 2013-14) to $450 billion (2014-15 to 2020-21).....We can expect a total USD  1.5 trillion FDI between  2021-22 to 2030-31.

2. Atmanirbhar Bharat scheme  to stop imports 

The Hon’ble Prime Minister,Modi ji announced a special economic package on 12 May 2020 of $290 billion or Rs.20 lakh crore (equivalent to 10% of India’s GDP) under the ‘Atmanirbhar Bharat Abhiyan’. This special economic package was announced to  stop imports.

3.  USD 1.5 trillion Gati Shakti master plan for infrastructure 

Prime Minister Narendra Modi, on 13 October'21, had launched a Rs 100 lakh crore national master plan for multi-modal connectivity to develop infrastructure to reduce logistic costs ,boost export & economy.

4. Agriculture Export Policy

comprehensive “Agriculture Export Policy” was launched in December 2018 to double farmers’ income by 2022 and provide an impetus to agricultural exports.

The new agri export policy will help India to double agricultural export from the present  $30 billion to $60 billion by 2022.

5. National Logistics policy 

As per economic survey 2017-18, a 10% decrease in indirect logistics cost could lead to an export growth of 5-8%.

Modi govt created a new logistics division for the integrated development of the logistics sector. India’s rank in World Bank’s Logistics Performance Index moved up from 54 in 2014 to 44 in 2018.

6. Prouction Linked Incentive Scheme 

Modi govt introduced Production-Linked Incentive (PLI) scheme,which aimed to boost domestic manufacturing & export  under the government’s Atmanirbhar Bharat initiative, was introduced in March last year and is expected to result in a minimum production worth more than $500 billion in five years.

Modi govt has announced an outlay of $ 27 billion or Rs 1.97 lakh crore for the Production-Linked Incentive (PLI) scheme for 13 identified sectors in 2021-22 budget . 

PLI scheme will help India to become a  $2 trillion export economy by 2030.

7.  RODTEP scheme for exporters

RoDTEP (Refund of Duties and Taxes on Exported Products) is a flagship export promotion scheme of Modi govt. The scheme aims to refund to the exporters the embedded central, state and local duties and taxes paid on inputs that were so far not refunded or rebated. 

Modi govt has announced (2021-22 ) a $1.8 Rs 12,400cr outlay for the Remission of duties and Taxes on Exported Products(RoDTEP) export promotion scheme. 

Export show positive growth under Modi govt 

1. Electronics  goods export hit record.

Electronic  goods export reached an all time high ,due to modi govt's make in India and new export policy. Electronic goods export up $6.5 billion or   Rs 47,500 cr to Rs $11.5 billion or 81,900 cr between  year 2014-21.

2. Pharma exports grew

India’s pharmaceutical export grew  under Modi govt , $25 billion from $14 billion (between 2014-21).

3.Defence export up

India's defence exports 1500% up from $.09 billion or Rs 686 cr in  2013-14 to $ 1.5 billion or Rs 10745 cr in 2018-19.India has set an ambitious target to achieve exports of $5 billion or Rs 35000 cr in aerospace and defence goods and services by 2025.

4. Rise export grew

India’s total Basmati  and non basmati rice export grew 40% between FY 14 to FY21.

In FY 21 total rice export was  $8.8 billion &  in FY14 it was $6.4 billion 

5.  Services export grew

India’s service export hit   USD 214 billion in 2019-20  and it was USD 157 billion in 2013-14. 

India’s  services exports can hit $1 trillion  by 2030.

Modi govt has taken big steps to boost export .I'm confident India’s export economy will USD 2 trillion by 2030.