How is Jitan Ram Manjhi Praising PM Modi’s Vision and GST Reforms?
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Synopsis
Union Minister Jitan Ram Manjhi commends PM Modi's development strategies and highlights the significance of recent Cabinet decisions on MSMEs and GST. With a focus on empowering small enterprises, he emphasizes these milestones will contribute to a prosperous 'Viksit Bharat' by 2047. Discover how these reforms are shaping India's economic landscape!
Key Takeaways
- Union Minister Jitan Ram Manjhi praises PM Modi's development initiatives.
- Recent Cabinet decisions on MSMEs are deemed pivotal for economic growth.
- GST reforms include significant changes aimed at consumer relief and economic resilience.
- Empowering small businesses is crucial for India's overall welfare.
- India aims to become the third-largest economy by 2030.
New Delhi, Sep 4 (NationPress) Union Minister Jitan Ram Manjhi praised Prime Minister Narendra Modi's comprehensive development strategy, referring to the recent Cabinet decisions regarding Micro, Small and Medium Enterprises (MSMEs) and the Goods and Services Tax (GST) as pivotal steps towards achieving a 'Viksit Bharat' by 2047.
Addressing the media in Delhi, Manjhi remarked, “PM Modi is unwaveringly dedicated to the progress of both India and Bihar. His vision emphasizes that empowering small entrepreneurs, farmers, and MSMEs is essential; large industries alone cannot guarantee the welfare of the populace. This is the rationale behind the separation of MSME from the Industries Ministry.”
He pointed out that since 2020, approximately seven crore new MSME units have been established. “If each unit provides employment to even five individuals, that translates to nearly 35 crore jobs created. MSMEs account for 31 percent of GDP, 35 percent of manufacturing, and 46 percent of exports. After agriculture, MSMEs are the second-largest contributors to India’s economy. The Vishwakarma Yojana is yet another initiative aimed at fortifying small industries,” he elaborated.
Regarding GST reforms, Manjhi deemed the decision made on Wednesday as “historic.”
He stated, “The government has streamlined GST into two tiers – 5 percent and 18 percent. Luxury and intoxicating goods will now incur a 40 percent GST to deter excessive consumption of fashion and alcohol. Notably, the GST on health and insurance, which was previously 18 percent, has been slashed to zero, providing significant relief to citizens.”
Manjhi further emphasized that these reforms would enhance India’s global economic resilience. “Certain nations are attempting to intimidate India through tariffs. Our new GST reforms will serve as a tool against that,” he remarked, alluding to the tariffs instituted by former US President Donald Trump on Indian products.
As India aspires to become the world’s third-largest economy by 2030, Manjhi stressed that Modi’s motto of ‘Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas’ will steer the nation’s economic ascent.
Point of View
It is evident that the government is making strategic moves to bolster the economy, particularly through the empowerment of MSMEs. This approach not only addresses immediate economic concerns but also lays the groundwork for sustainable growth. The commitment to GST reforms reflects a proactive stance in adapting to global economic challenges.
NationPress
04/09/2025
Frequently Asked Questions
What are the recent changes in GST?
The government has simplified GST into two slabs: 5% and 18%. Luxury and intoxicating products will face a 40% GST, while health and insurance GST has been reduced to zero.
How many MSME units have been registered since 2020?
Nearly seven crore new MSME units have been registered since 2020, contributing significantly to job creation and economic growth.
What is the contribution of MSMEs to India's GDP?
MSMEs contribute approximately 31% to India's GDP, 35% to manufacturing, and 46% to exports, making them vital to the national economy.
What is the Vishwakarma Yojana?
The Vishwakarma Yojana is an initiative aimed at strengthening small industries in India, enhancing their growth potential.
What does Modi's slogan 'Sabka Saath, Sabka Vikas' mean?
This slogan embodies the government's commitment to inclusive development, ensuring that all sections of society benefit from economic progress.
