India now wants to pursue capitalism for 5 trillion economy

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15 August 2019: PM Modi addressed the nation today on the auspicious occasion of 73rd Independence day. The highlights of the speech was all about his progress on social, political and economic issues.

One such highlight was his vision for India 2022. The year 2022 A.D. marks the 75th year of Independence, 70th year for constitution. He portrayed his vision by envisioning capitalism as its main agenda.

In his speech, he says, “Wealth creation is must needed for India.  There are some sects of people who portray wealth creation in a negative light but only when wealth is created, it can then be distributed. It is the only way to elevate people out from poverty.”

Furthermore, he also said that he had already deregulated more then 1400 laws which hampers the ease for doing business in India. He said the ease for business can only be achieved when the state has least interference in the life of people which is the trademark of “Laissez Flaire” economy. But, he did mention that the government will also be an active government who will rescue its people at the times of difficulties.

He cited that it took around 70 years for the whole country to reach the two trillion economy but after his government, it became 3 trillion economy within the span of 4 years and in the next 3-4 years or within 2022, he proposes to achieve five trillion economy.

He then laid out his plan for achieving five trillion economy by globalizing every districts of India. He said that every district of India has unique things to offer to the world which it has absolute advantage over. By globalizing every district, India hopes to reach the target of five trillion economy in few years.

He also advised the business men and women to digitalize the economy by using e-payments. He cited that the Rupay system of e-payment was now also recognized in Singapore as a means for e-payment.

All in all, his independence speech insinuated India to become more powerful economically, unity in all domains, militarily sound and he ends his speech with the chant of “Jai Hind” and ” Bharat Mata ki Jai”.

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