of BJP NEWSLETTER BJP KARNATAKA

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1 BJP KARNATAKA MAY 2016 ISSUE 29 Publisher & Hon. Editor B. S. YEDDYURAPPA President, BJP-Karnataka Editorial Team S. VISHWANATH BHAT Convenor, BJP Economic Cell G. V. KRISHNA National Co-Convenor, BJP CA Cell P. NARENDRA NAYAK Co-Convenor, BJP Economic Cell Contents Pg 1-9: 2 years of BJP Rule No leader other than Modi could have accomplished the civil nuclear cooperation MOU. - Japanese PM Shinzo Abe Looking at the 3 years ahead, speaking with cautious optimism: I have actually undertaken the maximum reforms... I have an enormous task ahead for myself. - Prime Minister Modi in an interview to Wall Street Journal Editor-in-Chief Gerard Baker on the eve of his 2 years in office. image: NEWSLETTER Follow us on Economic CELL BJP Karnataka BJP KARNATAKA ECONOMIC & CA CELL INITIATIVE of BJP YEARS RULE AN OASIS OF GROWTH AMIDST GLOBAL SLOWDOWN The Modi government is completing 24 months in office. How has the NDA government performed? Step back to the summer of 2013, when India was categorized by Morgan Stanley as one of the Fragile Five, - currency crashed by 20%; Global rating agencies were in the verge of declaring India as JUNK. From there to now, much water has flown down the river Ganga. India's macrostability has been the best it has seen in history. Other than NPA issues of PSU Banks, majority of other damages of the last six years have been reversed in a matter of 24 months and that is quite a lot! The moolamantra of BJP govt is all-round economic development of the country through implementing 30+ schemes in a mission mode to bring: I) Farmers' prosperity ii) Uplift of the poor iii) Jobs for the youth. 'The Economist' (Journal) aptly sums up the Modi government's achievements by underpinning the fall of rent-seeking trends in India's Politicians, Bureaucracy and Power brokers. Improved rating in the 2015 World Bank report; IMF projecting India as the 'Star of Growth', speaks volumes about Modi government's achievements. With sustained growth momentum, India is in a sweet spot, an oasis of growth in the global desert of slowdown. As the world takes note of India's economic resilience, a gush of foreign investments has been witnessed over the past 24 months. Latest OECD (Organisation for Economic Co-operation and Development) statistics show that India surpassed China and the USA to become the world's number one FDI destination in the 12 months ended 31 December Structural reforms in the form of subsidy management MISSION UNSTOPPABLE! 1

2 and distribution, a host of Progressive legislation and policy reforms with stress on innovation in sectors such as railways, roads, coal and energy and decisive executive actions are the hallmark of Narendra Modi led BJP government. The enactment of historical The Insolvency and Bankruptcy Code 2016 is a testimony to the fact that what other governments couldn't achieve in the last 67 years, Modi led BJP government achieved in just 2 years. The government's proactive diplomacy has led to a rise in the country's stature; India's demands for a permanent seat in the UN Security Council and membership of the Nuclear Suppliers Group now appear closer to realization. Our PM Narendra Modi is one of the most popular leaders India has ever had. An ET-TNS survey across seven cities in April showed his popularity remain undiminished. No politician in the past 30 years has occupied the public's mind space as Modi has. In all most all sectors of the economy, BJP government is working on a mission mode. Media coverage doesn't truly reflect the achievements of BJP government, forget it. How has the government performed? Here is a bird's view. SUCCESS STORY OF MACRO ECONOMY Inflation GDP growth Current Account Deficit (Billion $) Foreign Exchange Reserve (Billion $) FDI Highways built per day /UPA 9.5% 4.7% 4.8% ( ) 275 (6-9-13) 1.26 lakh cr 2 k.m /NDA Overall, the numbers for the Modi government look solid. FISCAL FEDARALISM 5.39% (Apr 2016) 7.4% ( ) 1.4% ( Est.) ( ) No. 1 in the globe for 2015! 20. K.m/day (April 2016) Devolution of an unprecedented 42% share (32% earlier) of the divisible pool of taxes to States. Total transfer to the States : 62% of the total tax receipts (55% in ) Public expenditure policy has now been moved decisively and firmly to the jurisdiction of the state govts. THREE FACTORS SPEAK VOLUMES ABOUT 'INTELLECTUAL HONESTY' OF THIS GOVERNMENT I) Weeding out corruption has been one of the biggest achievement of the BJP govt. FOR THE FIRST TIME IN 18 YEARS, INDIA RANKS AS LESS CORRUPT THAN CHINA IN THE ANNUAL CORRUPTION SURVEY OF 175 COUNTRIES BY G L O B A L WAT C H D O G T R A N S PA R E N C Y INTERNATIONAL. India now ranks an otherwise depressing 85th, but has improved in the index, jumping 10 places. ii) Inspiring citizens as 'Agents of change instead of government' - a remarkable idea, is a grand success. Eg: The voluntary public participation in 'Swachh Bharath' in millions. More than a crore LPG consumers gave up their LPG subsidy in response to Modi's 'GIVE IT UP' call. iii) The BJP government has launched as many as 30 plus schemes to address structural challenges in a range of areas such as sanitation, healthcare, urbanisation, rural poverty, unemployment problem and greater use of technology to bridge the digital divide. All are under implementation in a mission mode. Majority of the schemes announced in the last 50 years, are in dust covered files or else could not reach more than 5-6 crore people. Have a glimpse of some of the outstanding achievements and quantifiable benefits that have been provided to various sections of the society in the last 2 years through these schemes. 2

3 PROSPEROUS FARMERS AND PROFITABLE AGRICULTURE FROM FOOD SECURITY TO INCOME SECURITY The government seeks to double the income of farmers over the next five years based on measures like investing in irrigation, boosting productivity, improving marketing of food commodities and creating rural assets. NATIONAL AGRICULTURE MARKET (e-nam) Launched to allow farmers to sell their produce anywhere in the country. Targets to connect 585 regulated wholesale markets on e-nam platform. PRADHANA MANTRI FASAL VIMA YOJANA DERISK FARMING: The revamped crop insurance scheme PMFBY to mitigate risks associated with contemporary Indian farming. Highlights: I) Lowest premium ever to be paid by farmers at 1.5% on rabi crops, 2% on kharif crops and 5% on commercial / horticultural crops; ii) Reduce delays and leakages in payment of compensation through direct transfers into the bank accounts of farmers. iii) Government contributing five times the premium paid by a farmer; iv) To cover even local-level calamities such as hail storms and landslides and cover post-harvest losses due to cyclonic and unseasonal rains. Grand success for Fasal Vima Yojan: Funding for crop insurance by Karnataka Govt in : Rs 98.8 crore; but in (Bud Est): Rs crore, - more than six fold increase in allocation speaks volumes about the sheer quality of this Bhima fasal Yojana. PRADHAN MANTRI KRISHI SINCHAI YOJANA 28.5 lakh hectares under irrigation. With the motto of HAR KHET KO PAANI,' the govt has launched Rs 50,000 crore programme spread over 5 years to get water to all farms adopting latest technology so that farmers get 'PER DROP MORE CROP'. DEEN DAYAL UPADHYAYA GRAM JYOTI YOJANA An out lay of Rs 43,033 crore to fund DDUGJY ensuring around eight hours of quality power supply to agricultural consumers and 24-hour electricity to these households by supplying electricity through separate feeders for agricultural and rural domestic consumption. SOIL HEALTH CARD PROGRAMME Issuing 14 crore Soil cards to farmers, which will carry crop-wise recommendations of nutrients and fertilisers required for the individual farms to help them to improve productivity through judicious use of inputs. Food and Agriculture Organization of the United Nations is planning to make Indian Soil Health Card a model to be replicated in other countries, - a great tribute to Modi govt. KISAN TV A 24x7 channel dedicated to farmers has been launched to provide information on agriculture such as real time weather updates, crop advice and latest Agri Mandi data etc., COMPENSATION TO CROP DAMAGE i)increased the compensation for crop damage by 50% ii)revised norms to make it easier for farmers to claim compensation. RURAL SECTOR RURAL EMPLOYMENT & INFRASTRUCTURE a) A sum of Rs 2.87 lakh crore as Grant in Aid to Gram Panchayats and Municipalities spread over 5 years; a quantum jump of 228% compared to the previous five year period - capable of transforming villages and small towns; b) ALREADY 5,542 VILLAGES HAVE BEEN ELECTRIFIED - more than the total combined achievement of previous three years; committed to achieve 100% village electrification by 1st May, Rs 8,500 crore provided; c) THE PRADHAN MANTRI GRAM SADAK YOJANA: Rs. 19,000 crore allocations in compared to total allocations of Rs crore in the last 2 years; Advanced the completion target of the programme from 2021 to 2019 and connect the remaining 65,000 villages by constructing 2.23 lakh kms of roads; d) DIGITAL LITERACY MISSION SCHEME for rural India to cover around 6 crore additional households within the next 3 years; a record allocation of Rs. 87,765 crore. image: vimages - livemint.com 3

4 PRADHAN MANTRI AWAS YOJNA GRAMIN LAUNCHED ON 24 APRIL 2016 Target: Construction of about 3 Crore homes in rural areas by the year The financial assistance increased from 0.75 lakh to Rs. 1.2 Lakh. The area of the homes has also been increased to 25 Sq.mt. from 22 Sq.mt. The PM Awas Yojana Gramin will also be linked to Swachch Bharat Abhiyan to ensure toilets in every home, with an additional assistance of Rs. 12,000/- per household. PM Awas Yojana Urban is already being implemented and lakhs of houses has already been sanctioned under the scheme. UPLIFT OF THE POOR A game changer for the economy and a giant step towards Mass- banking from Class- banking. The Jan Dhan Yojana lies at the core of development philosophy of Sab Ka Sath Sab Ka Vikas. JAN SURAKSHA (Social Security Schemes) Aims to create a universal social security system for all Indians, specially the poor and the under-privileged in the old age. 30 lakh labourers were provided with a monthly pension of over? 1,000. Total enrolments in JAN SURAKSHA already crossed 120 million! SUKANYA SAMRUDDHI YOJANA (BETI BACHAO, BETI PADHAO) To Ensure the Rights of the Girl Child More than 90 lakh accounts opened in different post offices so far under small girl child savings scheme Sukanya Samriddhi. image: firstpost.com SWACHH BHARATH MY CLEAN INDIA - A mission beyond politics and inspired by cleanliness. The most liked initiative of Modi government that caught the nation's imagination. It aims to attain 100 per cent open defecation free India and to provide every rural family with a toilet by In more than 90 lakhs toilets were built and govt wants to build 6 crore toilets within 5 years, at an outlay of Rs 2 lakh crore. Succeeded in transforming 'Swatch Bharat' into a movement to regenerate India. SOCIAL SECTOR JAN DHAN YOJANA Banking the unbanked. The biggest financial inclusion initiative in the world to get rid of financial untouchability. Over 21 crore Jan Dhan bank accounts are opened having a deposit of Rs 30,000 crore crore RuPay debit cards issued with life cover and pension, covering 99.74% of all households in the country. (data as on 20 January 2016). JAM TRINITY Jan Dhan, Aadhar and mobile to implement direct benefit transfer in a leakage proof, well targeted and cashless manner. To cut the subsidy leakages, not the subsidy themselves PAHAL DBTL (Direct Benefit Transfer of LPG). The world's largest cash subsidy under the Direct Benefit Transfer Scheme was launched by the Union Government and extended all over the country with effect from January 1, PRADHAN MANTRI UJJWALA YOJANA Mega Scheme to give 5 crore gas connections free to BPL families launched by PM Narendra Modi on International Labour Day. Aims to provide LPG connection in the name of 1.5 crore women members of BPL families in , allocation Rs 2,000 crore in this year's Budget; Aims to cover 5 crore BPL households before 2019; In 60 years, a total of 13 crore households were given LPG connections. In one year alone, the NDA govt. gave LPG connections to 3 crore households. HEALTH SECTOR A new health protection scheme for BPL families to provide health cover up to Rs. 1 lakh per family, Rs. 30,000 more for senior citizens; from ,000 Jan Aushadhi Stores under PRIME MINISTER'S JAN AUSHADHI YOJANA were set up to supply generic drugs in the current year. NATIONAL DIALYSIS SERVICES PROGRAMME, funding through PPP mode was done to provide dialysis services in all district hospitals passed in

5 BONANZA FOR WORKING CLASS BONUS CALCULATION CEILING DOUBLED: All employees earning up to Rs 21,000 a month will be eligible for bonus, against the current cut-off of Rs 10,000 a month. The ceiling for calculation of bonus is raised from Rs 3,500 per month to Rs 7,000 per month. i.e. to double the eligibility limit for giving bonus, thus benefitting around 25 million workers, effective from April 1, Portability through Universal Account Number (UAN) for EPF members that allows a single PF account like a bank account to stay with an employee throughout his / her professional career, though job changes. COMMON MAN : ACHHE BENEFIT IN THE BUDGET Range of exemptions such as tax exemption limit, deduction under 80C; 80D and interest on housing loan in respect of self occupied house, ceiling in the contribution to PPF scheme, additional contribution to New pension Fund, deduction for rent paid, all increased by a substantial amount. Today, an individual tax payer will get tax benefit of Rs 4,42,200. GOOD GOVERNANCE AND EASE OF DOING BUSINESS I) Succeeded in getting Aadhaar bill a statutory backing on the unique identification project. (Targeted Delivery of Financial and Other Subsidies, Benefits and Services) Bill This makes Aadhaar number mandatory and will reset the entire subsidy regime. All the subsidies / cash benefits will go into the bank accounts of beneficiaries linked to the 12-digit biometric identity number provided by the UIDAI and thus push India towards a cashless economy. ii) Introduction of DBT on pilot basis for fertilizer and kerosene subsidy on a pilot basis. iii) 3 lakh Fair Price Shops to be automized by March EASE OF DOING BUSINESS A transparent and accountable Labour Inspection Scheme to pull the curtains down on so-called INSPECTOR RAJ. Unique Labour Identification Number (LAN) to enable the factories to register online and file the self-certified single unified online labour law return instead of 16 separate returns. Online Central Excise and Service Tax registration in 2 working days. Launched an e-biz portal, integrating 14 regulatory permissions at one place. Pending Public grievances in PMO when Narendra Modi took over at the centre - over 16,000 cases. Now the pending cases - around 3,300! Every new scheme being sanctioned by government will have a sunset date and outcome review. Public money should reach the poor and the deserving without any leakage. Three specific initiatives are launched: India did see a rise in the recent rankings - the best performance in the last six years. THE INSOLVENCY AND BANKRUPTCY CODE 2016: History was created on May 11, 2016 when the Rajya Sabha passed The Insolvency and Bankruptcy Code This is a comprehensive and systemic reform. Hitherto, India was lacking the legal and institutional machinery for dealing with debt defaults as per global standards. What other governments couldn't achieve in the last 67 years, Modi led BJP government achieved it in just 2 years. 5

6 GOVT LED PUSH IN INFRASTRUCTURE TO REVIVE INVESTMENT CYCLE RAILWAYS Set an explosive and transformational record investment plan of Rs.8.5 trillion over the next five years. Resource mobilization has already been tied up; opened up 100 per cent FDI in specific areas in rail sector to woo investments. Bullet Train: Japan signed a highly concessional loan of US $12 billion at 0.1% interest repayable in 50 years, to help India build its first Shinkansen (Bullet Train) the 505-kilometre-long railway line from Mumbai to Ahmedabad at a cost of Rs $14.6billion.(Rs 98,000 crore). Tremendous improvement achieved in passenger amenities, cleaner stations and toilets; and a technological upgrade, and better services. worth USD 60 billion in the pipeline, apart from the potential of 10 million jobs under Sagarmala, and additional 10 million jobs could be easily created in shipping, highways and other sectors. JOBS FOR THE YOUTH Job Emergency: 800 millions are young Indians - under the age of 35, of which, over 4 crore people are registered in employment exchanges, only 2 lakh get jobs annually. Every year more than 12 million youths are joining the labour force. BJP government plans to solve the Job Emergency through implementing mammoth schemes like SKILL INDIA, MUDRA, DIGITAL INDIA AND MAKE IN INDIA, START UP INDIA, STANDUP INDIA, all in mission mode. NIIF: National Investment and Infrastructure Fund Annual inflow of Rs 20,000 crore, to have multiplier effect on public works. Road construction in India has accelerated to an all-time high pace of 20 kilometers per day. (compared to 4.8 km in ). SKILL INDIA: Not a programme but a movement image: oneindia.com The mission mode programme is to train 40.2 crore youth by 2022 and to set up 1500 Multi Skill Training Institutes across the country - Rs 1,700 crore allocated May 20 KM/Day Investment in infrastructure in : Rs 2,21,246 crore SMART CITY MISSION: 98 cities aree selected for the 'Smart City Project'. Union Cabinet announced the approval of Rs 48,000 crore to the Smart Cities Project. BLUE REVOLUTION: The 7500 km coastal line and 14,000 km of inland waterways remained untapped ever since Independence. Modi government committed to develop it, well beyond imagination. In the maiden Maritime Summit (April 14 & 15), commitments worth USD 12 billion on the spot and another 240 projects BOOST TO JOB CREATION Govt to pay the EPS contribution of 8.33% for all new employees enrolling in EPFO for the first three years of their employment.(applicable to semi-skilled and unskilled workers and with salary up to Rs. 15,000 per month). Deduction of 30% of the emoluments paid to such new employees can be claimed for three years. APPRENTICE PROTSAHAN YOJANA Increasing appren-ticeship coverage from the 4,90,000 at present to 23 lakhs with the union govt to reimburse manufacturing units half the stipend paid to apprentices during the first two years of training. SKILL MINISTRY To open within one year. 7,000 new Industrial Training Institutes or half the number of existing it is opened in 6

7 India across 6 decades to meet the expected demand for skilled labours in the next 2-3 years. MUDRA BANK - A scheme to fund the unfunded Micro Units Development and Refinance Agency Ltd (MUDRA) Bank is an indigenous financial architecture for (non-corporate, non-agricultural,) millions of Micro and Small enterprises of the informal sector as an integral to generate inclusive growth. A potential game changer for solving unemployment problem. CREDIT Upto Rs. 10 lakh to small entrepreneurs at 12% interest/annum, without collateral security; Priority to OBC and SC/ST enterprises in lending. Over Rs Lakh crore have been disbursed in MUDRA YOJANA Target is Rs 1.8 lakh crore in STARTUPS Look at the incentives galore to boost STARTUPS, - Certainly a phenomenal move by the BJP government sending a strong message to the Start-up sector to become job creators instead of job seekers, call a populist start-up budget on steroids. START-UP ACTION PLAN I) No tax on profits for the first three years, ii) No capital gains tax on investments in start-ups, iii) A selfcertification-based compliance system for new firms, iv) No inspection for three years, v) A single-point interaction hub for the entire start-ups. BOOSTER DOSE I) Rs 10,000 crore fund for startups, ii)rs 2,000-crore credit guarantee fund for the sector, iii)get a role in government procurements, iv)exit policy for startups to get out of failed businesses. Impact: This will help start-up jobs become as popular as MNC jobs are during campus placements. STAND UP INDIA SCHEME MAKE IN INDIA Open invitation by the Prime Minister Modi to the world and domestic companies to make India a manufacturing hub. Objective: Job creation in 25 sectors of the economy; Increase GDP growth and tax revenue; To attract capital and technological investment in India. Government gives shape to five industrial corridors. Delhi - Mumbai Industrial Corridor (DMIC); Bengaluru - Mumbai Economic Corridor (BMEC); Chennai - Bengaluru Industrial Corridor (CBIC); Visakhapatnam - Chennai Industrial Corridor (VCIC) Amritsar - Kolkata Industrial Corridor (AKIC). Work on all the 5 corridors already started! Make in India week: Rs. 15,20,000 crore from 2,924 MOUs is committed investments with focus on manufacturing sector, during the five-day'make in India' event at Mumbai, that was attended by 102 countries and 215 exhibitors. Amitabh Kant, Secretary, DIPP, is confident that at least 85 per cent of the Rs 15,20,000 crore MOU signed between investors and various state governments will materialise into actual investments on the ground, i.e. Rs. 12,92,000 crore ($189 billion) of investments into the manufacturing sector! Think of jobs that will be created for our youth! DIGITAL INDIA TO TRANSFORM INDIA - One stop shop for govt services The Rs 1.13-lakh crore Digital India Project - an umbrella Scheme that seeks to transform India into a digitally empowered society and connected knowledge economy. It aims to offer a one-stop shop for government services using the mobile phone as the backbone of its delivery mechanism a n d a t t r a c t i n ve s t m e n t i n e l e c t r o n i c s manufacturing, create millions of jobs. The intention is to bring down net electronics imports to zero by 2020, from about $100 billion now, a move which will help the country control its current-account deficit. Indian corporate pledged Rs 45 lakh crore investments to Digital India which could generate job opportunities of 18 lakh over next 5-10 years. Launched to promote entrepreneurship among 2,50,000 Scheduled Caste/Schedule Tribe and Women and turn them into future business leaders. Under the scheme, 1.25 lakh bank branches will provide loans between Rs. 10 lakh and Rs.1 crore to Scheduled castes (SC), Scheduled tribes (ST) and Women entrepreneurs at concessional interest rates that too without collateral, to change them to job creators from job seekers. 7

8 image: hindustantimes.com GENERAL 1) OROP: The issue of One Rank One Pension (OROP) pending for nearly four decades is implemented by BJP government. 2) FOREIGN EXCHANGE RESERVES: At an all time record of $ billion as on April 29, ) WOMEN EMPOWERMENT: While many just shout women empowerment Govt is silently worked on it. 33% of police in Delhi are now female! 4) MSME Changed procurement norms to benefit SMEs: All Central government ministries and public sector undertakings (PSUs) would now be required to procure at least 20 per cent of their annual value of goods or services from micro and small enterprises from the earlier provision of only up to 20 per cent at the lowest price. Under presumptive taxation schemes, to increase turnover limit of small business to Rs.2 crore from 1 crore, a major relief for MSME sector; 5) An agreement to amend India's decades-old double tax avoidance treaty with Mauritius to avoid "roundtripped" black money. UPA govt gave just lip service but didn't dare to amend the tax treaty for the reasons best known to them. 6) DOMESTIC EFFICIENT LIGHTING PROGRAMME Government provides LED bulbs to consumers at around 25% of market rate to replace the incandescent bulbs which could result in per cent reduction in energy consumption thus reducing consumer bills by Rs 40,000 crore. Over 8 crore LEDs have been distributed so far. Target: To distribute 70 crore bulbs in the next two years. 7) UDAY UJWAL DISCOM ASSURANCE YOJANA For financial turnaround of power distribution companies. Accumulated losses + Debt of all the DISCOMS of the country: Rs. 8.1 lakh crore. State DISCOMS unable to pay for Power suppliers & so unable to supply adequate power to domestic and industrial consumers. Impact: Energy Security, Village electrification, 24X7 power supply, Make in India and Digital India all at stake and ultimately Possibility of default on bank loans by DISCOMs. PLAN OF ACTION FOR TURNAROUND OF DISCOMS (I) Improving operational efficiencies of DISCOMs; (ii) Reduction of cost of power, (iii) Financial restructuring; (iv) Enforcing financial discipline on DISCOMs through alignment with State finances. Result: The big picture - Energy security; achieving 24x7 power supply without any loss. To break even in the next 2-3 years through these initiatives: Fuel supply (highest coal production growth in over 2 decades), Power generation (highest ever capacity addition) and Transmission (highest ever increase in transmission lines) FOREIGN POLICY BJP government integrated its foreign policy with economic policies. Modi's trips have helped boost India's image as an investment destination. Diplomacy for development' is the theme of India's global engagements. In this context, in the last 24 months Modi visited most of the developed and strategically important countries such as USA, UK, Germany, France, China, Japan, Australia, Canada, Russia, South Korea and participated actively in multilateral summits. 1) PM Modi, the first Prime Minister to visit Silicon Valley, meet such IT czars as Apple, Microsoft, Qualcomm, Google, Tesla etc. and extracted commitment from them of investment in India. But the biggest take away from the PM's visit, is the optimism and buss generated around India, right in heart of the tech world. Modi unequivocally drive home the point that India is the right destination, in fact, a paradise, for investment. 2) India-Japan 'Defining relationship' of this century: Indian and Japanese Prime Ministers inked 16 agreements covering US $ 35 billion investments by Japan in just 5 years, path breaking defence agreements, landmark civil nuclear deal transforming Asia's geopolitics. 3) Impact: India back on the global investment radar. 8

9 From 'Fragile Five' in 2013 to world's number 1 FDI destination for the calendar year 2015, while the global growth remains anemic. 4) Investments committed by developed countries: Japan - $35 billion in five years; South Korea-$10 billion; China - $20 billion in the next five years, UAE - $75-billion infrastructure fund. 5) The release of the five fishermen in November 2014 by Sri Lankan govt, who were given death penalty by the Colombo High court of Sri Lanka, is a victory for Modi led BJP govt. 6) India managed to bring back Indians from War zone Yemen and also bring foreign nationals of 41 different countries which put India's name globally in rescue mission. 7) Land Boundary Agreement with Bangladesh is no less significant than Berlin Wall's fall. The agreement was awaiting ratification by India for 41 years. 8) Towards historical CHABAHAR PORT AGREEMENT: India, Iran and Afghanistan have finalised the important Chabahar Port Agreement, which will allow India, access to Afghanistan via the Iranian Port of Chabahar, which sits on the Gulf of Oman. This will allow Indian goods to reach Afghanistan bypassing Pakistan. 9) A game changing visit to UAE by PM Modi that resulted in commitment to invest mammoth US $ 75 billion in India, through a dedicated infrastructure fund. 10) Respecting India's rationale and appeal UNO is celebrating June 21st as International Yoga Day. On 21 June, 2015 First International Day of Yoga was celebrated all over the world with immense enthusiasm. THE VISION OF THE BJP GOVT The year 2022 will be the Amrut Mahotsav, the 75th year, of India's independence. By that time India should have accomplished: (i) Housing for all': 2 crore houses in urban areas and 4 crore houses in rural areas. (ii) Each house in the country to have basic facilities of 24-hour power supply, clean drinking water, a toilet, and be connected to a road. (iii) At least one member from each family should have access to the means for livelihood and, employment (iv) Providing medical services in each village. (v) A senior secondary school within 5 km reach of each child, vi) To ensure digital connectivity to all the villages. CHALLENGES IN THREAT 1) THE G.S.T BILL AND AMENDMENT TO THE LAND ACQUISITION ACT critically needed for the rapid growth of the country could not passed. Reason: Lack of majority in the Rajya Sabha and disruptive opposition - UPA. 2) 180 MILLION ADDITIONAL INCOME SEEKERS are expected to join work force during the next 14 years. 3) LEGACIES OF PREVIOUS GOVERNMENT I) Huge debt burden and Interest payment. Rs. 4,56,145 crore. i.e % of Revenue is spent for servicing the loans. Out of the borrowings of Rs 5,55,649 crore, 82.09%, i.e Rs 4,56,145 crore is used for paying interest on existing huge loans! ii) NPA issues in the state run banks: Stressed assets (NPAs + CDR assets) are much more than 13% of total credit. Although this is the legacy of previous govt, present govt has to address this proactively. 4) RISKS OF FURTHER GLOBAL SLOWDOWN AND TURBULENCE The big problems facing the economy are not domestic. It is coming from slowing global growth recession. Domestic sectors are actually doing quite alright. The growth scale gets distorted because export-related sectors are doing badly. If growth has to improve, global economy should not be in turmoil. They are outside the control of the Modi government. Govt has laid a great stress upon a new work culture. It is walking the talk. When all these right policy initiatives starts yielding fruits along with physical infrastructure catching up, India has all the potential to flourish as a global economic power in the coming decade. In the past 24 months, the Government has undertaken more reform oriented measures than any Government in recent memory. Macroeconomic indicators project a strong picture on fiscal discipline, with short-to-medium term GDP growth strategy range-bound between 7.5-8%. The overall verdict will depend on a philosophical question: How do you see the glass half full or half empty? Considering where the economy stood in 2014 with global rating agencies in the verge of declaring India as 'JUNK, we certainly see the glass much more than half full. In fact, considering the present global economic turmoil, the glass is more than 3/4th full, as the BJP government is celebrating completion of 2 successful years in office. 9