The 2014 Spice to the World’s Largest Democracy | 2014
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Introduction
In 2014, the world’s largest democracy saw a turning point in its history of dynastic politics. 2014 brought a charismatic leader who promised the nation that he would transform the country’s political, social, and economic landscape. With Modi at the helm of affairs, 2014 saw the launch of various new initiatives and the revamping of the previous redundant ones. These reforms aimed at enhancing the ease of doing business in the country and fostering financial inclusion and innovation. This year not only brought positive changes for the Indian economy but also improved India’s image as a world leader.
What did the political environment in 2014 look like?
The most important event of 2014 was the landslide victory of the Bharatiya Janata Party with its prime ministerial candidate Narendra Modi, the former chief minister of Gujarat. India experienced a ‘Modi leher’ in 2014 where Modi was the popular choice of every strata of the society. Modi was seen as a farsighted pro business minister with a good track record of development in Gujarat. Modi instilled in everyone’s heart, his vision of making India a global power, and a ‘Vishwaguru’. His slogan of Sabka Saath Sabka Vikaas resonated with every Indian. As soon as he took over, the Modi government launched various schemes and programmes aimed at bolstering the economy. One of the significant ones being the introduction of the goods and services tax GST. Foreign direct investment norms were liberalized to a great extent and the insolvency and bankruptcy code was put into place. In the social sphere, the Swachh Bharat Abhiyan was launched along with the skill India mission that not only improved the quality of the environment but also enhanced the condition of unskilled workers in the market. The smart cities mission was launched to increase the growth and development in the cities and keep them at par with other major global cities.
What changes were made to improve the ease of doing business in the country?
To improve the ease of doing business in the country, the Make in India campaign was launched in September, 2014. The Make in India policy was aimed at transforming India into a global manufacturing hub and by bringing foreign investors through various incentives and lucrative opportunities. The make in India campaign focused on 25 sectors and the government brought out reforms that made the entrepreneur climate of India more conducive for both manufacturers and investors this make in India campaign led to a massive jump on the world banks is of doing business index from a position of 142 in 2014 to a position of 63 in 2019 and their by making it and improved economy.
How did financial inclusion occur?
The Modi government launched Pradhan Mantri Jan Dhan Yojana in August 2014 to provide universal access to banking services. This initiative was to get it to the poor and on Bank sections of the society that were removed and untouched by the economy and this scheme people were provided with the basic savings bank account with the debit card and overdraft facility and the life insurance cover the scheme also provided for a direct transfer of subsidies and benefits to the beneficiaries without any intermediate and leakages.
In similar lines the digital India camp in was launched by the government of India to increase the access to government services through improved online infrastructure and increased internet connectivity this campaign is also linked with other projects like Bharat net make in India startup India stand up India industrial corridors the Bharat mala sagarmala project and the Amrit Bharat station scheme. Campaign also introduced the unified payments interface (UPI) , the Aadhar unique identification number and e-KYC (electronic know your customer) and the BHIM (Bharat interface for money) to first facilitate digital financial services.
In similar lines the digital India camp in was launched by the government of India to increase the access to government services through improved online infrastructure and increased internet connectivity this campaign is also linked with other projects like Bharat net make in India startup India stand up India industrial corridors the Bharat mala sagarmala project and the Amrit Bharat station scheme. Campaign also introduced the unified payments interface (UPI) , the Aadhar unique identification number and e-KYC (electronic know your customer) and the BHIM (Bharat interface for money) to first facilitate digital financial services.
What reforms were brought for the Startups and Innovation Ecosystem?
The year witnessed a push to the startup ecosystem with grand schemes coming up under the Make in India and Start-up India Campaigns. These initiatives provided an impetus to the existing entrepreneurial minds and encouraged innovation. The policy reforms produced the expected results with several successful start-ups and unicorns dominating the market. With increasing competition in the market, emergence of new players not only expanded consumer choices but also introduced cutting edge technologies and renewable solutions to the ecosystem.
What developments were made in the scientific field?
A very significant event of the year was the successful launch and the insertion of the Mars Orbiter Mission into the orbit of Mars. The Indian Space Research Organisation propelled this mission and India became the fourth country in the world to reach Mars, after the US, Russia and European Union. The mission was the fastest to reach Mars and it was surprisingly the cheapest as well.
The mission brought valuable data and images from Mars that were very instrumental for the scientific community. The mission strengthened India’s global image and put ISRO on the global map. The Indian youth found inspiration in the mission to pursue science and technology. With this landmark event, the Modi government engraved its reign in Indian history.
The mission brought valuable data and images from Mars that were very instrumental for the scientific community. The mission strengthened India’s global image and put ISRO on the global map. The Indian youth found inspiration in the mission to pursue science and technology. With this landmark event, the Modi government engraved its reign in Indian history.
How did 2014 improve the Indian infrastructure?
The Modi government being a flag bearer of development, launched various infrastructure projects in the country. The Dedicated Freight Corridor (DFC), the Bharatmala Pariyojana (road network), the Sagarmala Project (port development), the UDAN Scheme (regional air connectivity), and the Bullet Train Project (high-speed rail) were launched. These projects opened new avenues for employment, economic development and improved transportation with reduced cost and time. The infrastructural developments provided greater access to services and enhanced the quality of life.
Conclusion
2014 was definitely a watershed moment for the country as it marked the epoch of an era of economic and entrepreneurial dynamism.. Different startups saw their ascent and new unicorns were added to the Indian economy. Infrastructural progress not only improved the quality of life but also brought in foreign investment. In India’s growth trajectory, the year of 2014 will always be remembered as a catalyst, a spice that added flavor and zest to Indian democracy.