Page 9 - NIS English 16-31 Jan, 2026
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PM’s Article | SPECIAL
ndia has emerged as
the centre of global
attention. This is due to
the innovative zeal of
our people. Today, the
Iworld sees India with
hope and confidence. They
appreciate the manner in
which the pace of progress
has been accelerated with
next-generation reforms,
which are cross-sectoral and
amplify the nation’s growth
potential. GST reform
I have been telling many
people that India has n A clean two-slab structure of 5%
and 18% has been implemented.
boarded the Reform Express.
The primary engine of this n The burden has been eased on
Reform Express is India’s households, MSMEs, farmers and Unparalleled
demography, our young gen- labour-intensive sectors. relief for the
eration and the indomitable n The purpose is to ensure dispute middle class
spirit of our people. reduction and better compliance. n In a first, individuals
2025 will be remembered n This reform has boosted consumer earning up to Rs. 12
as a year for India when it sentiment and demand. Sales have lakh a year faced no
focused on reforms as a grown in the festive season. income tax at all.
continuous national mission,
building on the ground n Obsolete Income-tax
Act of 1961 has been
covered over the past 11 Boost to small and replaced with the
years. We modernised medium businesses modern and simple
institutions, simplified gover- n Definition of “small companies” has Income Tax Act, 2025.
nance, and strengthened the been expanded to include firms with
foundations for long-term, turnovers up to Rs. 100 crore. n Together, these reforms
inclusive growth. n Compliance burdens and associated mark India’s move
towards a transparent,
We moved ahead deci- costs for thousands of companies will technology-driven tax
sively…with higher ambition, get reduced. administration.
faster execution and deeper
transformation. The reforms 100% FDI Insurance reform
have been about enabling
citizens to live with dignity, n 100% FDI permitted in Indian insurance
entrepreneurs to innovate companies.
with confidence and institu- n This will give a fillip to insurance
tions to function with clarity penetration and security for the people.
and trust. n Apart from enhanced competition, it
Let me cite a few examples would offer better insurance choices and
of the reforms undertaken. improved service delivery for the people.
January 16-31, 2026 || NEW INDIA SAMACHAR 7
