Obstacles have been replaced by optimism. And, issues have been replaced by initiatives. Since , India has made significant improvements in almost all international rankings and indices. I am aware that there are some who cannot appreciate this rapid improvement. They suggest that rankings only improve things on paper, but nothing changes on the ground.
I think this is far from the truth. Rankings are mostly lagging indicators. Things change on ground first, but reflect in rankings after a time lag.
Our rankings have improved from to a historic high of 77 in four years. But the change in rankings has been preceded by improvement in situation on the ground. Now construction permits for starting a new business come faster, and so do electricity connections and other approvals. Even for the small traders, compliance is getting easier.
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Now a business with a turnover of up to Rs 40 lakh does not have to register for GST. Now a business with a turnover of up to Rs 60 lakh does not have to pay any incometax. Now a business with a turnover of up to Rs 1. This surge in innovation is clearly visible.
Archie's visit to India shows the changing perception of Brand India - The Economic Times
This improvement in culture is also visible. The number of patents and trademarks filed also shows a great increase. The change is due to a new style of governance and is often visible in interesting ways. I would like to give you such an interesting example of how things have changed since We are now witnessing various forms of competition: A competition between ministries; A competition between states; A competition on development; A competition on achieving targets.
There is competition as to whether all habitations will be connected by road first or all homes will get gas connection first.
Free! India Calling, A Decade Of Perceptions
There is competition as to which state will attract more investment. There is competition as to which states will build houses for the poor fastest. There is competition as to which aspirational district will progress fastest. Before also, we heard of about a competition, although of a different kind. A competition between ministries; A competition between individuals; A competition on corruption; A competition on delays.
BROWSE WIDE ANGLE
There was competition on who can do maximum corruption; there was competition on who can do fastest corruption; there was competition on who can do most innovation in corruption. There was competition as to whether coal will get more money or spectrum. There was competition as to whether CWG would get more money or defence deals. We all saw that and we also know who were the main players involved in this competition. I will leave it to you to decide which form of competition you would prefer.
Center for Strategic & International Studies
For decades, a narrative was made that certain things are just impossible in India. The progress our nation has achieved since gives me confidence that nothing is impossible for crore Indians. Naamumkin ab mumkin hai Impossible is now possible. It was said that making a clean India was impossible, but people of India are making it possible.
It was said that a corruptionfree government in India was impossible, but people of India have made it possible. It was said that it is impossible to remove corruption from the process of giving people their due, but people of India are making it possible. It was said that it is impossible for the poor to leverage the power of technology, but the people of India are making it possible. It was said that removing discretion and arbitrariness in policymaking was impossible, but people of India are making it possible. It was said that economic reforms in India were impossible, but people of India are making it possible.
It was said that governments cannot be pro-growth and pro-poor at the same time, but people of India are making it possible. I have also been told that there is a perception or theory that a developing economy cannot grow at higher rate for a longer period, without facing the problem of inflation. As a result of this, we never had sustainable higher rate of growth. The government just before us, between and , had an average growth of about six-andhalf percent with an average inflation again in double digits.
During to , the country would register an average growth of 7. Post liberalisation of Indian economy, this will be the highest rate of average growth and lowest rate of average inflation witnessed during the period of any government. With these changes and reforms, transformation is happening in the way our economy has moved. The Indian economy has expanded the bouquet of its financing resources.
It is no more dependent on bank credit for investment needs. Take the example of fundraising from the capital market. During to , that is, three years prior to this government, the average amount of fund raised through equity was about Rs 14, crore per annum. In the last four years, this average is about Rs 43, crore per annum. This is almost three times. The total amount raised by Alternative Investment Funds during to was less than Rs 4, crore.
Our government took various measures to develop this source of financing in the economy. And, you can see the result: from to , in four years, the total amount raised by Alternative Investment Funds is more than Rs 81, crore. This is a jump of the order of 20 times. Similarly, let us see the example of private placement of corporate bonds. Now the average over the last four years has gone up to Rs 5.
All these are examples of confidence shown in the Indian economy. Today, this confidence is shown not only by domestic investors, but also by investors from all across the world. And, the confidence shown in India continues, breaking the earlier trend of preelection years. In the last four years, the amount of foreign direct investment received in the country was almost equal to what was received in seven years before To achieve all this, India needed reforms to transform. This is the impact of the Insolvency and Bankruptcy Code. This will help the country in allocating financial resources more efficiently.
All these reforms were implemented without halting work for the wellbeing of the larger sections of society. India is a country of crore aspirations and there can never be a singular vision for development and progress. Our vision of a new India caters to all sections of the society, irrespective of their economic profile, their caste, creed, language and religion. We are working hard to create a new India, which fulfils the aspirations and dreams of crore Indians.
Our vision of the new India includes addressing the challenges of the future while also solving problems of the past. For the majority of people living in rural Nepal, getting access to good medical facilities is difficult. And it is also not easy to lodge complaints about poor health services at government hospitals. Here is how we have helped. This story is part of Real Lives, Real Stories, a series written by staff from our national chapters in the Asia Pacific region.
Netflix's new series based on the Lava Jato case, The Mechanism, was just released on their platform so we put together a list of the best 5 Netflix series that showcase the different faces of corruption. Check them out! Everyone knows House of Cards as the Netflix show about corruption, but over the last few years, the popular streaming service has….
Measuring white privilege
Yemen Zambia Zimbabwe. Card number. Expiry -- 01 02 03 04 05 06 07 08 09 10 11 12 -- Thank You for Donating to Transparency International! Global Corruption Barometer Explore the results of the largest ever public opinion survey on corruption. Anti-corruption glossary See our simple, animated definitions of types of corruption and the ways to challenge it. Learn more. Trade unions and civil society call on G20 to protect whistleblowers. Asia Pacific: little to no progress on anti-corruption With an average score of just 44 for three consecutive years, the Asia Pacific region is making little progress in the fight against corruption.
Slow, Imperfect Progress across Asia Pacific While no country in the Asia Pacific region scores a perfect , not even New Zealand or Singapore, which both experienced their share of scandals in the last year, our analysis reveals little progress across the region. Many governments in Asia Pacific fail to stop corruption; million people are paying bribes.
Ineligibilities for elected office arising from criminal law decisions. People and corruption: Asia Pacific — Global corruption barometer.