- India's cabinet marks Modi's 25 years as head of government
- Resolution cites 600 million bank accounts and 250 million people out of poverty
- Cabinet approves about $1 billion fund for small and medium businesses
- New authority to coordinate India's transportation and logistics
INDIA's Union Cabinet on Tuesday passed a resolution marking Prime Minister Narendra Modi's 25 years of uninterrupted leadership as head of government, first as chief minister of Gujarat and then as prime minister.
The resolution described his "extraordinary journey" as guided by the principle of "Nation First and Citizen First," and said his three election wins in Gujarat and three successive national election victories reflected the "enduring trust" the public had placed in him.
"Far more than a customary tribute, it celebrates the extraordinary journey of PM Modi," Information and Broadcasting Minister Ashwini Vaishnaw told reporters.
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What the resolution highlights
The resolution credits Modi with taking Gujarat initiatives to the national stage. It cites SWAGAT, the state's grievance-tracking system, which won a United Nations Public Service Award in 2010 and later inspired PRAGATI, a national platform for reviewing stalled projects.
It also links his welfare programs to his own experience of poverty, citing nearly 600 million Jan Dhan bank accounts, more than 40 million homes built and 250 million people lifted out of poverty, according to a government statement.
Other figures cited include:
- Payments under the PM-KISAN farmer support program exceeding 4 trillion rupees (about $41 billion).
- Public capital spending rising from 2 trillion rupees (about $21 billion) to more than 12 trillion rupees (about $124 billion).
- Electronics production increasing from around 2 trillion rupees (about $21 billion) to more than 13 trillion rupees (about $135 billion).
The resolution also highlights reforms including the Goods and Services Tax (GST) and the replacement of colonial-era laws, as well as women's reservation in legislatures and around 35 million women supported under the "Lakhpati Didi" program.
$1 billion fund for small businesses
At the same meeting, the cabinet approved a 100 billion rupee (about $1 billion) SME Growth Fund to make direct equity investments in small and medium-sized enterprises (SMEs).
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Vaishnaw said most existing equity funds focus on early-stage and micro businesses, leaving a gap in growth capital for SMEs. Most of the new fund's money will go to manufacturing companies, including those in smaller cities, to help them expand capacity, adopt new technology and compete in exports.
The fund, announced in the Union Budget, will be run with the Ministry of Micro, Small and Medium Enterprises and the Ministry of Finance.
The cabinet also approved an Integrated Transport and Logistics Authority, a special purpose vehicle to improve planning and coordination across roads, railways, ports, aviation, waterways and urban transportation.
(With inputs from PTI)
