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India Highlights 12-Year Reforms Under Modi, Citing Tax Cuts, Digital Growth and Farmer Support
In New Delhi on Wednesday, government officials unveiled a booklet that chronicles the economic and social reforms rolled out during Prime Minister Narendra Modi’s 12‑year tenure. The publication notes that Modi has served longer than any elected prime minister in India’s history, surpassing Jawaharlal Nehru’s 4,398 days.
The booklet frames the period as one of “trust” built through a series of policy changes. It cites a reduction in the income‑tax burden as evidence of the government’s vision of a “Ramrajya” and highlights the implementation of the Goods and Services Tax (GST), the introduction of faceless tax collection, and the Digital India initiative as key drivers of public confidence. The authors argue that these reforms have positioned India to become a US$5‑trillion economy.
Digital progress is quantified in the booklet. The cost of one gigabyte of data fell from ₹269 in 2014 to roughly ₹8–10 in 2025, a 97 % decline. Internet users rose from about 25 million in 2014 to 103 million by December 2025, while broadband connections increased from 6 million to nearly 100 million over the same period.
Agricultural support is another focus. The government has increased the annual budget for the agriculture ministry five‑fold over the past 12 years, reaching ₹1.4 lakh crore for the current fiscal year. Under the PM‑KISAN scheme, launched in February 2019, the state has disbursed ₹4.3 lakh crore to farmers, providing ₹6,000 annually in three instalments to eligible recipients.
Industry bodies responded to the booklet’s review. The Confederation of Indian Industry (CII) president, R. Mukundan, said the reforms have strengthened India’s competitiveness and that the country is moving toward “Viksit Bharat 2047.” The Federation of Indian Chambers of Commerce & Industry (FICCI) president, Anant Goenka, praised the consolidation of economic fundamentals, noting that ease of doing business, infrastructure investment, trade partnerships, and manufacturing competitiveness have altered India’s trajectory.
The booklet also references the government’s success in bringing inflation under control, unifying the market through GST, and reducing non‑performing assets in the banking sector. It portrays these measures as foundational to the country’s shift from being listed among the world’s “fragile five” in 2013 to becoming the fastest‑growing major economy.
While the publication presents a positive assessment, it does not provide independent verification of the figures or discuss any countervailing evidence. The data on internet usage and broadband penetration are drawn from industry reports, and the fiscal figures for agriculture and PM‑KISAN are based on government releases.
The booklet’s release coincides with the anniversary of Modi’s first election victory in 2014. No official statement was issued regarding future policy directions or upcoming elections.
As India approaches the next general election, the government’s narrative of sustained reform and growth will likely be a focal point for both supporters and critics. The impact of the described policies on employment, rural development, and the broader economy remains a subject of ongoing analysis by economists and industry observers.
The government has not announced any immediate changes to tax law or digital policy. The next fiscal budget, scheduled for release in the coming months, will provide further detail on planned spending and revenue measures. Investors and stakeholders will be watching the budget for indications of how the government intends to sustain the growth trajectory highlighted in the booklet.
In summary, the government’s booklet outlines a 12‑year period of tax reform, digital expansion, and farmer support, framing these as the pillars of India’s move toward a US$5‑trillion economy. The narrative is supported by industry praise and government data, but independent verification of the figures and assessment of long‑term outcomes remain pending.
The booklet frames the period as one of “trust” built through a series of policy changes. It cites a reduction in the income‑tax burden as evidence of the government’s vision of a “Ramrajya” and highlights the implementation of the Goods and Services Tax (GST), the introduction of faceless tax collection, and the Digital India initiative as key drivers of public confidence. The authors argue that these reforms have positioned India to become a US$5‑trillion economy.
Digital progress is quantified in the booklet. The cost of one gigabyte of data fell from ₹269 in 2014 to roughly ₹8–10 in 2025, a 97 % decline. Internet users rose from about 25 million in 2014 to 103 million by December 2025, while broadband connections increased from 6 million to nearly 100 million over the same period.
Agricultural support is another focus. The government has increased the annual budget for the agriculture ministry five‑fold over the past 12 years, reaching ₹1.4 lakh crore for the current fiscal year. Under the PM‑KISAN scheme, launched in February 2019, the state has disbursed ₹4.3 lakh crore to farmers, providing ₹6,000 annually in three instalments to eligible recipients.
Industry bodies responded to the booklet’s review. The Confederation of Indian Industry (CII) president, R. Mukundan, said the reforms have strengthened India’s competitiveness and that the country is moving toward “Viksit Bharat 2047.” The Federation of Indian Chambers of Commerce & Industry (FICCI) president, Anant Goenka, praised the consolidation of economic fundamentals, noting that ease of doing business, infrastructure investment, trade partnerships, and manufacturing competitiveness have altered India’s trajectory.
The booklet also references the government’s success in bringing inflation under control, unifying the market through GST, and reducing non‑performing assets in the banking sector. It portrays these measures as foundational to the country’s shift from being listed among the world’s “fragile five” in 2013 to becoming the fastest‑growing major economy.
While the publication presents a positive assessment, it does not provide independent verification of the figures or discuss any countervailing evidence. The data on internet usage and broadband penetration are drawn from industry reports, and the fiscal figures for agriculture and PM‑KISAN are based on government releases.
The booklet’s release coincides with the anniversary of Modi’s first election victory in 2014. No official statement was issued regarding future policy directions or upcoming elections.
As India approaches the next general election, the government’s narrative of sustained reform and growth will likely be a focal point for both supporters and critics. The impact of the described policies on employment, rural development, and the broader economy remains a subject of ongoing analysis by economists and industry observers.
The government has not announced any immediate changes to tax law or digital policy. The next fiscal budget, scheduled for release in the coming months, will provide further detail on planned spending and revenue measures. Investors and stakeholders will be watching the budget for indications of how the government intends to sustain the growth trajectory highlighted in the booklet.
In summary, the government’s booklet outlines a 12‑year period of tax reform, digital expansion, and farmer support, framing these as the pillars of India’s move toward a US$5‑trillion economy. The narrative is supported by industry praise and government data, but independent verification of the figures and assessment of long‑term outcomes remain pending.
