The BJP government since 2014 has prioritized economic reforms to make India the fastest-growing major economy. The focus has been on structural changes, simplification of business processes, and creating a robust manufacturing and entrepreneurial ecosystem.
**Structural Reforms**
The introduction of GST streamlined indirect taxes, creating a unified market. The Insolvency and Bankruptcy Code (IBC) addressed the issue of non-performing assets and improved credit discipline.
**Boosting Manufacturing and Startups**
Programs like “Make in India” and “Startup India” have encouraged domestic manufacturing and innovation. Special economic zones and simplified compliance norms have attracted global investors.
**Infrastructure-Led Growth**
Economic growth has been supported by large investments in highways, ports, and airports, creating jobs and improving logistics.
**Foreign Direct Investment (FDI)**
The BJP government liberalized FDI policies across multiple sectors, bringing record investment inflows into the country.
**Impact**
India’s GDP growth rate has consistently remained among the highest in the world, with significant improvements in the Ease of Doing Business rankings.
**Conclusion**
Economic reforms under BJP have laid a strong foundation for sustainable growth, aimed at making India a $5 trillion economy.
