Key Highlights
- Prime Minister Narendra Modi unveiled a Deregulation Commission to cut red‑tape and curb state interference.
- Jan Vishwas 2.0 will spearhead the removal of outdated rules across sectors.
- Private‑sector entry is being opened in nuclear power, space, commercial mining and electricity distribution.
- The Svamitva Yojana employs drones and GIS to grant legal land titles to rural households.
- Banking reforms under Mudra Yojana and Jan Dhan aim to expand credit to entrepreneurs and the unbanked.
Detailed Insights
The newly constituted Deregulation Commission is tasked with scrutinising existing statutes, discarding those that impede efficiency and streamlining administrative procedures. Modi linked this initiative to the broader aspiration of reshaping India into a business‑centric, high‑growth economy. Through Jan Vishwas 2.0, the government has already repealed hundreds of obsolete compliances and pledged further action to dismantle lingering bureaucratic obstacles.
Emphasising the pivotal role of the private sector, the Prime Minister announced liberalisation of traditionally public‑dominated domains—nuclear energy, space exploration, commercial mining, and power distribution—intended to attract investment, spur innovation and position India at the forefront of the Fourth Industrial Revolution.
The Svamitva Yojana, launched on National Panchayati Raj Day 2020, leverages drone imaging and Geographic Information System (GIS) mapping to produce definitive land records for village‑level habitations. To date, more than three lakh villages have been surveyed and over 2.25 lakh property cards issued, unlocking assets estimated at ₹100 lakh crore, reducing land disputes and facilitating loan access for rural owners.
On the financial front, Modi highlighted a triadic strategy: “Banking the Unbanked” via Jan Dhan, “Securing the Unsecured” to stabilise deposits, and “Funding the Unfunded” to ease credit for small enterprises. The Mudra Yojana has disbursed roughly ₹32 lakh crore, while public‑sector banks reported a profit of ₹1.25 lakh crore in nine months of the current fiscal year.
Lastly, the Bharatiya Nyaya Sanhita (BNS) replaces colonial‑era statutes, promising faster case resolution, stronger citizen rights protection, and a more agile justice system.