Gopal krishna agarwal ppt on ModiNomics
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The document outlines several economic reforms and initiatives undertaken by the Modi government in India. It discusses programs like Jan Dhan Yojana, Goods and Services Tax, resolving non-performing assets, and improving ease of doing business. The key principles behind these reforms are identifying issues, creating technological infrastructure, integrating stakeholders, bringing transparency, and ensuring accountability. Case studies provided show how these principles were applied to different policy areas to drive investment, growth, and formalize the economy.
Gopal krishna agarwal ppt on ModiNomics
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- 2. To drive investment and catalyse economic growth, the ecosystem requires • Transparent decision making process • Predictable policies • Processing and analysis of large data • No policy paralyses at the government level 2
- 3. Modinomics – Basic Principles A. Recognise and acknowledge the problem B. Create technological infrastructure for solution C. Integrate stakeholders into the technological infrastructure D. Fix accountability of intermediaries and set targets create performance matrix E. Bring transparency and level playing field in the ecosystem 3
- 4. Case Studies • Jan Dhan Account – JAM • Non-Performing Assets • Micro, Small and Medium Enterprise • Anti Corruption Initiatives • Goods and Services Tax • Ease of Doing Business 4
- 5. Jan Dhan Account – JAM JAM ( Jan Dhan Account, Aadhar and Mobile) (A) Identifying the problem (B) Creating technological infrastructure for solution (C&D) Integrate stakeholders into technological infrastructure (E) Transparent Ecosystem NPA 5
- 6. (A) Identifying the problem • Financial exclusion of large section of population • Leakages in social welfare schemes • Lack of targeted delivery …..Jan Dhan Account – JAM Jan Dhan Account – JAM A
- 7. (B) Creating technological infrastructure for solution • JAM, trinity Aadhar seeding Mobile Applications Direct Benefit Transfer-DBT …..Jan Dhan Account – JAM Jan Dhan Account – JAM B
- 8. …..Jan Dhan Account – JAM (C&D) Integrate stakeholders into technological infrastructure • Integrating services as a package Insurance Policies Credit Availability Rupay card Social benefit scheme directly to bank account of eligible beneficiary Banking institutions Target 34 crore bank account. Digital payment application. Jan Dhan Account – JAM C
- 9. (E) Transparent Ecosystem • Better utilisation of government resources. • Financial participation …..Jan Dhan Account – JAM Jan Dhan Account – JAM D
- 10. Non-Performing Assets (A) Identifying problem twin Balance Sheet Problem (B) Resolution Mechanism (C & D) – Solution and Integrating Stakeholders (E) Recovery of Rs.1,26,000 Crores of bad loan MSME 6
- 11. Non-Performing Assets (A)Identifying problem twin Balance Sheet Problem • NPA (Identification, subquality assets and bad loans in the bank) • over leveraged corporates , debt servicing • Stagnant projects NPA A
- 12. (B) Resolution Mechanism • IBC ( Insolvency and Bankruptcy Code ) • Benami Properties Act • Fugitive Offenders Act • Willful defaulters list Non-Performing Assets NPA B
- 13. (C & D) – Solution and Integrating Stakeholders • NCLT • Provisioning of bad loans • Recapitalisation of banks • Mergers of banks • Pragati initiative of PM Non-Performing Assets NPA C
- 14. (E) Transparent Ecosystem • Recovery of Rs.1,26,000 Crores of bad loan • Stronger banks • Road Constructions • Unlocking projects worth Rs 9,00,000 corers. Non-Performing Assets NPA D
- 15. Micro, Small and Medium Enterprises (A ) Identifying Problem (B,C & D)Technological infrastructure and integrating stakeholders (E) Transparent Ecosystem Anti Corruption Initiatives 7
- 16. Micro, Small and Medium Enterprises (A ) Identifying Problem • Missing link • Employment • Complex compliances • Credit availability • Market access • Ease of doing business MSME A
- 17. Micro, Small and Medium Enterprises (B,C & D)Technological infrastructure and integrating stakeholders • Skilling • Startup /Standup initiatives • Mudra loans • Treads – Bill discounting platform • GEM • GST • PSB 59 • समाधान portal • Easing labour Laws MSME B
- 18. (E) Transparent Ecosystem • EODB ranking at 77 from 142 Micro, Small and Medium Enterprises MSME C
- 19. Anti Corruption Initiatives (A) ) Identifying Problem (B) Resolution Mechanism (C&D) Integrating Stakeholders and Accountability (E) Transparent Ecosystem GST 8
- 20. Anti Corruption Initiatives (A) Identifying Problem • Low tax to GDP ratio • Concentration of wealth • Crony capitalism • Gaps in tax collections Anti Corruption Initiatives A
- 21. (B) Resolution Mechanism • Foreign assets disclosure scheme • Income Disclosure Scheme I &II • Exchange of information between G20 • Demonetisation – Creating audit trail of business transactions, establishing ownership • Deregistration of shell companies Anti Corruption Initiatives Anti Corruption Initiatives B
- 22. Anti Corruption Initiatives (C&D) Integrating Stakeholders and Accountability • Establishing audit trail • Business transaction through banking system • E assessment Anti Corruption Initiatives C
- 23. (E) Transparent Ecosystem • Improved indirect tax collection • No. of assessee increased from 3.68 to 6.68 crores • Prevention of money laundering Anti Corruption Initiatives Anti Corruption Initiatives D
- 24. Goods and Services Tax (A) Identifying Problem (B) Technological Infrastructure (C & D) Integrating Stakeholder and Accountability (E) Transparent Ecosystem EODB 9
- 25. Goods and Services Tax (A)Identifying Problem • Fragmented market • Large no. of state and central indirect taxes • Inspector Raj • High incidence of indirect tax GST A
- 26. (B) Technological Infrastructure • GST Network GSTN • E way bill • Input tax credit Goods and Services Tax GST B
- 27. Goods and Services Tax (C & D) Integrating Stakeholder and Accountability • No. of registered units increased from 65 lakh to 1.2 cr. • Subsuming of all indirect taxes • Cooperative federalism in GST council • Online registration, returns, assessment, refunds GST C
- 28. (E) Transparent Ecosystem • One market • One Tax • lower indirect taxes • Large segment of informal economy moving to formal segment • Ease of compliance Goods and Services Tax GST D
- 29. Ease of Doing Business (A) Identifying Problem (B) Focused and Targeted Approach Simplification under central industrial Acts (C&D) Fix Accountability and set Target 10 Thanks
- 30. Ease of Doing Business (A) Identifying Problem • Compliance burden • No easy entry and exit • Entrepreneurial bottlenecks • Very low ranking 142 EODB A
- 31. (B) Focused and Targeted Approach • Focusing on ten parameters • Setting targets of 50th rank • Repeal of about 1000 redundant laws • UAN ( Universal Account No.) for labour force Ease of Doing Business EODB B
- 32. Ease of Doing Business (C&D)Fix Accountability and set Target • Simplification under central industrial Acts Registers reduced to 5 from 56 Relevant field of compliance reduced to 144 from 933 • Ease of doing Business ranking for states also • Establishment of Commercial court EODB C
- 33. (E) Transparent Ecosystem • Current Ranking of 77 from 142 in 2014 • Ease of compliance across all parameters • Road map on Enforcing contrast Land registration – digitisation of land records Paying of taxes – E assessment Ease of Doing Business EODB D
- 34. ThanksGopal Krishna Agarwal National Spokesperson, BJP