India in golden era of economic reforms under PM Modi: Praveen Khandelwal

As the Narendra Modi-led government completes 11 years in power, Member of Parliament Praveen Khandelwal has hailed the period as a “golden era of economic reforms, trader empowerment and inclusive growth.”

Addressing a press conference in the national capital on Wednesday, Khandelwal said India had made unprecedented progress in trade, commerce and governance under the Prime Minister’s leadership. He was joined by BJP district presidents Ajay Khatana (Keshav Puram) and Arvind Garg (Chandni Chowk), as well as MLAs Ashok Goyal (Model Town), Poonam Sharma (Wazirpur), Tilak Ram Gupta (Tri Nagar) and Rajkumar Bhatia (Adarsh Nagar).

Khandelwal stated that transformative reforms such as the implementation of GST, the Insolvency and Bankruptcy Code, the Digital India initiative and the National Skill Development Mission had collectively ensured transparency, formalisation and ease of doing business. “For the first time, traders and small businesses are at the centre of India’s economic roadmap,” he said.

Highlighting India’s remarkable climb in the World Bank’s Ease of Doing Business index—from 142 in 2014 to 63 in 2024—Khandelwal credited the simplification of regulations and digital adoption for the achievement. He also underscored the role of UPI (Unified Payments Interface), which had made India the largest real-time payments market in the world.

He pointed out that more than 43 crore MUDRA loans worth Rs 25.75 lakh crore had been sanctioned, boosting grassroots entrepreneurship. Additionally, over 1.25 lakh startups had registered under the Startup India programme, making the country the third-largest startup ecosystem globally.

The MP said the implementation of GST, which replaced 17 taxes and 23 cesses with “One Nation, One Tax, One Market,” had significantly boosted revenue and compliance. Monthly GST collections now regularly crossed Rs 2 lakh crore, registering a year-on-year growth of 16.4 per cent.

Khandelwal praised PM Modi’s vision of “Vocal for Local” and “Aatmanirbhar Bharat” for giving traders renewed confidence. “From Chandni Chowk to Chennai, lakhs of small businesses are now proud contributors to India’s global journey,” he said.