Soviet-style
Planning Commission will be scrapped soon, Prime Minister Narendra
Modi announced today while unveiling his economic agenda inviting
global businesses to make India their manufacturing base and
launching a financial inclusion scheme for poor families. Addressing
the nation from Red Fort, he said the 64-year old Planning
Commission, a vestige of socialist era, would be soon replaced with a
new institution to address the current economic challenges and
strengthen the federal structure. "We need a new body with a new
soul... We will have to think about giving a new shape to the
Planning Commission... Very soon this new institute will start
working in place of Planning Commission," Modi said. Seeking to
integrate poor into formal banking channel, he announced 'Pradhan
Mantri Jan Dhan Yojana' under which they will be provided a bank
account with the facility of a debit card and a built-in insurance
cover of Rs 1 lakh. Modi invited the global business community to set
up manufacturing facilities in India giving the slogan 'Come, Make in
India'. He exhorted youth to become entrepreneurs and manufacture
'zero-defect' goods with a view to make the country a global export
hub. Announcing the abolition of Planning Commission, Modi said it
was set up to cater to the needs of earlier times and has
participated in its own way in the development of the country. "The
internal situation of the country has changed, global environment has
changed. Government is no longer the centre of economic development.
Economy is much more broadbased now. State government is also a
centre of development. I feel it is a good sign. If we have to take
India forward, then states have to be taken forward," Modi said.
Justifying the need to replace the Commission, Modi said: "Sometime
it becomes necessary to repair a house. It costs a lot of money. But
it does not give us satisfaction. Then we feel it is better to make a
new house".
The
Prime Minister said: "We need an institution of creative
thinking and for optimum utilisation of youth capability". The
Planning Commission was set up in March 1950 by India's first Prime
Minister Jawaharlal Nehru to promote a rapid rise in the standard of
living of the people by efficient exploitation of the resources of
the country, increasing production and offering opportunities to all
for employment in the service of the community. Welcoming the
decision, former Planning Commission member Bimal Jalan said: "It
is very good idea. Planning has become outdated concept now. There is
a need to modernise it. We have to see the blueprint of the new
concept. But change was very much required". Further Modi said
India's young population have skill and talent which will help India
in making the country a export hub of the world. Asserting that focus
on manufacturing sector would help in creating employment for people
besides maintaining balance in exports and imports, he added. "From
ramparts of the Red Fort, I would like to call people of the world to
'come, make in India'. Come here and manufacture in India. Sell the
products anywhere in the world but manufacture here...we have the
power, come I am inviting you," he said. Industry chambers too
welcomed the announcements and said the Prime Minister gave clear
signals to domestic and global investors to make India an
international manufacturing and export hub. Expressing the
government's resolve to move towards the goal of 'Digital India', the
Prime Minister underlined the need for using information technology
to improve governance and spread education and medical facilities.
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