Govt schemes propelled 13.5 crore people into new middle class: PM Modi

Addressing the nation from the Red Fort on the occasion of the 77th Independence Day, Prime Minister Narendra Modi lauded the transformative power of government initiatives that have uplifted 13.5 crore individuals from poverty into the new middle class.

New Delhi: Addressing the nation from the Red Fort on the occasion of the 77th Independence Day, Prime Minister Narendra Modi lauded the transformative power of government initiatives that have uplifted 13.5 crore individuals from poverty into the new middle class.

The Prime Minister’s address highlighted a range of achievements over the past years, reflecting India’s progress in multiple sectors. “PM Modi underscored the journey India has embarked upon, ascending from the 10th largest global economy in 2014 to the 5th largest in 2023”, read the Prime Minister’s office press release.

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The ascent, he emphasized, was fuelled by the relentless fight against corruption, plugging leakages in government benefit transfers and fostering a robust economy that channels public funds towards the betterment of the marginalized.

“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”, PM Modi said.

He stressed that economic prosperity becomes meaningful when governments are devoted to utilizing public funds transparently for the welfare of citizens. Such dedication, he affirmed, is instrumental in achieving exceptional progress.

Highlighting the exponential growth in financial allocations to states, PM Modi highlighted the quantum leap from Rs. 30 lakh crore to Rs. 100 lakh crore being transferred from the Centre to states over the past decade.

He emphasized the substantial increase in allocations to local bodies, which escalated from Rs 70,000 crore to over Rs 3 lakh crore, underscoring the commitment to grassroots development.

PM revealed the fact that funding for housing for the underprivileged has surged fourfold, from Rs 90,000 crore to over Rs 4 lakh crore. The welfare of farmers was also a priority, exemplified by the provision of urea bags, valued at Rs 3,000 in global markets, being made accessible to farmers at a mere Rs 300, with a subsidy totalling an impressive Rs 10 lakh crore.

Highlighting the success of the MUDRA Yojana, PM celebrated its role in transforming nearly 10 crore citizens into entrepreneurs and job creators. He explained how this initiative, backed by a substantial budget exceeding Rs 20 lakh crore, led to the creation of eight crore new businesses, subsequently generating employment opportunities for millions.

PM Modi acknowledged that the nation had witnessed a multitude of initiatives, each contributing significantly to India’s development and creating employment opportunities across the country.

He particularly commended the “One Rank One Pension” initiative, directing benefits of Rs 70,000 crore from India’s treasury to retired soldiers and their families as a heartfelt tribute.

Closing his address, Prime Minister Modi declared, “13.5 crore people have broken the chains of poverty and entered the new middle class,” attributing this remarkable achievement to a plethora of welfare schemes and inclusive initiatives.

From housing programs to the PM SVANidhi scheme, these efforts have elevated millions of lives, illustrating the profound impact of dedicated governance.