Prime Minister Narendra Modi has outlined an ambitious economic and defence reform agenda, positioning India for accelerated growth and self-reliance by 2047. His Independence Day address, lasting 103 minutes, underscored a commitment to structural, regulatory, and policy reforms, with a particular emphasis on Atmanirbhar (self-reliant) Bharat as the foundation for Viksit (developed) Bharat.
Modi announced a Rs 1-lakh crore jobs programme, the PM Viksit Bharat Rozgar Yojana, designed to create 35 million employment opportunities. The scheme will provide Rs 15,000 to youth securing private-sector jobs, with additional incentives for companies that expand hiring. This initiative directly counters Opposition criticism of high unemployment while aligning with Modi’s broader vision of economic empowerment.
“This Diwali, you are going to get a big gift. We are coming with the next generation of GST reforms,” Modi declared, promising sweeping tax reforms by October. The announcement follows recent parliamentary approval of key tax legislation, including the Income Tax (No 2) Bill and the Taxation Laws (Amendment) Bill, which abolished 280 sections of the Income Tax Act. Modi emphasised that these reforms will reduce compliance costs, boost startups and small industries, and modernise archaic laws.
The Prime Minister also unveiled a task force to explore next-generation economic reforms, stressing the need to align India’s legal and regulatory frameworks with 21st-century global standards. “Current rules, laws, policies, and procedures must be redrafted to suit the 21st century, to fit the global environment and to align with the vision of making Bharat a developed nation by 2047,” he said.
Atmanirbhar Bharat emerged as a central theme, with Modi highlighting India’s growing self-sufficiency in defence and space technology. He cited Operation Sindoor, a recent military operation, as proof of the advantages of indigenous weapons and defence systems. “The enemy had no inkling of what weapons and capabilities we possessed,” he said, emphasising that self-reliance ensures swift and decisive action without dependency on external suppliers.
Modi also announced the Sudarshan Chakra Mission, aimed at fortifying security for civilian installations nationwide. He underscored the importance of technological advancement, noting that India is now advancing semiconductor manufacturing in mission mode, with six units under development and four already approved.
In space technology, Modi highlighted India’s progress toward an indigenous Gaganyaan mission and the construction of its own space station. More than 300 startups are now operating in the space sector, reflecting a surge in innovation and youth engagement.
The Prime Minister reiterated his commitment to “vocal for local,” “zero defect, zero effect,” and “lower price, higher value” principles, urging traders and shopkeepers to promote indigenous products by displaying “Swadeshi goods sold here” signs.
Modi’s reforms signal a strategic shift towards economic and defence autonomy, positioning India as a global leader in technology and innovation. By fostering self-reliance, the government aims to reduce vulnerabilities, enhance national security, and drive sustainable economic growth. The coming months will be critical as these reforms take shape, shaping India’s trajectory toward a developed and resilient future.
