Though BJP fails to get majority, it will go ahead with Prime Minister’s first 100-day plan

The government may also bring the long-pending cross-border insolvency and group insolvency rules.
Though BJP fails to get majority, it will go ahead with Prime Minister’s first 100-day plan

NEW DELHI: Even if the BJP has failed to get a majority in the parliamentary elections on its own, the National Democratic Alliance (NDA) government led by the party is not going to junk the much-talked about Prime Minister’s first 100-day plan.

Sources in the government said the 100-day plan is very much in the works even if a coalition means the government have to be selective in taking tough reforms measures.

Sources said the key agenda of the government in the first 100 days is insurance sector reforms, changes in the Insolvency and Bankruptcy Code (IBC) and extension of the production-linked insurance (PLI) scheme.

Insurance sector reforms would include composite licencing allowing an insurance company to have life, general and health insurance under one entity. Insurance regulator IRDAI is also planning to allow differential minimum capital to enable niche players to have lower minimum capital requirement of Rs 100 crore against the current Rs 500 crore. The government may also bring the long-pending cross-border insolvency and group insolvency rules.

The PLI scheme, launched with the aim of encouraging manufacturing, is yet to bear fruits in most sectors except in mobile manufacturing. The scheme, applicable to 14 sectors currently, may be expanded to a few more sunrise sectors. The government has been planning to tweak the scheme to make it more effective.

It may decide to hike income support given to farmers under PM Kisan Samman Nidhi from Rs 6,000 to Rs 8,000 per year. Sources said the government may expand Ayushman Bharat Yojana to cover Senior Citizens above 70 years. Currently, it covers only bottom 50% of the population.

The next government’s 100-day agenda will be unveiled by PM Modi after taking over the reins for the third time. Each ministry is compiling its list of policies which can be implemented in the first 100 days of the new government.

The Ministry of Electronics and Information Technology (MEITY) will likely undertake 20 key developments, including the launch of the IndiaAI Mission, amendments to IT Act and setting up of an apex digital public infrastructure (DPI) committee. The plan also includes expansion of current power producing capacity, policy changes for coal and hydroelectricity.

Related Stories

No stories found.

X
The New Indian Express
www.newindianexpress.com