PM Independence Day Speech: Focusing on new middle class

PM Independence Day

PM Independence Day Speech: The Prime Minister, Shri Narendra Modi, speaking from the ramparts of the Red Fort on the occasion of 77th Independence Day today, recalled that India has improved its world ranking from the 10th largest economy in 2014 to the 5th largest in 2023 today.

The PM said that this rise happened due to fighting corruption, the stopping of leakages in transfer of government benefits and creation of a strong economy and spending of public money for the welfare of the poor. “Today, I want to tell the countrymen that when the country is economically prosperous, it does not just fill the coffers; it builds the capability of the citizens and the nation. If there is a government that takes a pledge to spend this honestly for the welfare of its citizens, only then one achieves such rare progressive outcomes.”

Transfer of funds from Centre to states up from Rs. 30 lakh crore to Rs. 100 lakh crore

Giving an account of the progress in the last 10 years, the PM said that the figures tell a compelling story of change. Asserting that the transformation is huge and a testament to the immense capability of the nation, the PM said that 10 years ago, 30 lakh crore rupees used to go to the states from the Government of India. In the last 9 years, this figure has reached 100 lakh crore, the PM pointed out. “Earlier, 70 thousand crore rupees were spent from the treasury of the Government of India for the development of local bodies, today it is more than 3 lakh crore rupees.”

Four-fold increase in housing for poor, Rs. 10 lakh crore urea subsidies for farmers

The PM told the nation that earlier, 90 thousand crore rupees were spent to build the houses of the poor; today it has increased 4 times and more than 4 lakh crore rupees are being spent to build the houses of the poor. The PM informed that bags of urea which are sold at Rs. 3,000 in some global markets are being given to farmers at not more than 300 rupees. “The bags of urea that are sold for 3,000 rupees in some global markets, we provide to our farmers for 300 rupees, and hence the government is providing a subsidy of 10 lakh crore rupees on urea for our farmers.”

MUDRA Yojana has enabled nearly 10 crore citizens to become job creators.

The PM explained that the MUDRA Yojana has enabled crore of citizens to become entrepreneurs and thus also be job creators for others. “The Mudra Yojana, with a budget of over 20 lakh crore rupees, has provided opportunities for self-employment, businesses, and ventures for the youth of our country. About eight crore people have started new businesses, and it\’s not just eight crore people who started their businesses; each entrepreneur has provided employment to one or two individuals.

The capability to provide employment to 8-10 crore new individuals has been achieved through the Mudra Yojana availed by eight crore citizens.” The PM added that businesses too were supported during the COVID-19 pandemic, wherein MSMEs were supported with nearly 3.5 lakh crore rupees, preventing them from sinking and providing them strength.

The PM also recalled how the “One Rank One Pension” initiative brought the benefit of 70,000 crore rupees from India’s treasury to our soldiers, as a tribute to them. The families of our retired soldiers have got this money, he said.

The PM underlined that these are just a few examples and that there are many more initiatives that have significantly contributed to the country’s development, generating employment in various corners of the nation. The PM reminded the nation that compared to earlier years, the nation’s budget has been increased manifold across categories.

“13.5 crore people have broken the chains of poverty and entered the new middle class”

The PM informed that as a result of all these efforts, 13.5 crore poor people have broken free from the chains of poverty and entered the new middle class, during the one tenure of five years of the government. The PM told that there can be no greater satisfaction in life than this. The PM added that the various schemes ranging from housing schemes, provision of 50,000 crore rupees to street vendors through the PM SVANidhi scheme, and many more such schemes have aided these 13.5 crore people to rise above the hardships of poverty.