Announces slew of initiatives from ramparts of Red Fort to embrace Aatmanirbhar Bharat
‘Double Diwali Gift’: PM Modi Promises ‘Next-Gen GST Reforms’ to Reduce Taxes on Daily-Use Items
Announces New ₹1 Lakh Crore ‘Viksit Bharat Rozgar Yojana’ to Create 3.5 Crore Jobs
Pledges ‘Made-in-India’ Semiconductor Chips by Year-End
NEW DELHI (ATP) — In his address to the nation on the 79th Independence Day, Prime Minister Narendra Modi outlined his vision for a “Viksit Bharat” (Developed India) by 2047, announcing new economic reforms and emphasizing the critical role of a “self-reliant India” (Aatmanirbhar Bharat).
New Job Creation Scheme and GST Reforms: In a major announcement for India’s youth, PM Modi launched the Pradhan Mantri Viksit Bharat Rozgar Yojana with a budget of ₹1 lakh crore. The scheme, which will be managed by the Employees’ Provident Fund Organisation (EPFO), aims to generate more than 3.5 crore new jobs. Under the initiative, first-time employees in the private sector will receive a financial incentive of up to ₹15,000, while employers will also receive subsidies for new hires. The scheme is designed to boost formal job creation and will focus on the manufacturing sector.
Modi also promised a “double Diwali” gift for citizens with the introduction of “next-generation GST reforms.” He stated that after a review and consultations with states, the government will substantially reduce the tax burden on everyday items, making them cheaper for the common person and providing a significant benefit to MSMEs and small businesses.
The Push for a Self-Reliant India: The Prime Minister underscored that self-reliance is not just about imports and exports but is crucial for a nation’s dignity and security. He highlighted several sectors where India is making a decisive push for indigenous capabilities:
Technology: Modi announced that India’s first “Made in India” semiconductor chips will be available in the market by the end of 2025. He acknowledged the decades lost in this sector but stressed that the country is now moving forward in “mission mode” with six semiconductor units already under development and four new ones recently approved. He also challenged the nation’s youth to create indigenous platforms for social media and other digital services, inspired by the success of UPI.
Energy and Minerals: To reduce dependence on imported fossil fuels, the Prime Minister announced the launch of the National Deep Water Exploration Mission to find oil and gas reserves under the sea. He also highlighted India’s rapid progress in clean energy, noting that the country achieved its 50% clean energy target five years ahead of the 2030 deadline. Additionally, he noted that 10 new nuclear reactors are under development, with the goal of increasing nuclear energy capacity tenfold by 2047.
Manufacturing: PM Modi urged citizens and businesses to embrace the mantra of “lower price, but higher value” and to support the “Vocal for Local” and “Swadeshi” movements. He called on influencers and political parties to make the use of domestic products a collective pledge.
ATP
