NEW DELHI, Dec 30: The year 2025 will be remembered as one where India “focused on reforms as a continuous national mission,” the Prime Minister Narendra Modi said in a LinkedIn post in which he went on to list the various reforms the government has implemented this year.
“I have been telling many people that India has boarded the Reform Express,” Mr Modi said. “The primary engine of this Reform Express is India’s demography, our young generation and the indomitable spirit of our people. 2025 will be remembered as a year for India when it focused on reforms as a continuous national mission, building on the ground covered over the past 11 years.”
The government this year modernised institutions, simplified governance, and strengthened the foundations for long-term, inclusive growth,” Mr Modi claimed. The Prime Minister highlighted several reforms implemented by the government, primary among which was the rationalisation of Goods and Service Tax (GST. “This reform has boosted consumer sentiment and demand,” Mr Modi said. “Sales have grown in the festive season.”
He further highlighted the income tax relief announced in the 2025 annual budget where individuals earning up to Rs. 12 lakh a year were exempted from income tax, the replacement of the Income-tax Act of 1961 with the “modern and simple” Income Tax Act, 2025, and the expansion of the definition of ‘small companies’ to include firms with turnovers up to ₹100 crore.
Mr Modi also said the government’s decision to allow 100% FDI in Indian insurance companies would give a fillip to insurance penetration and security for the people. “Apart from enhanced competition, it would offer better insurance choices and improved service delivery for the people,” Mr Modi said.
Apart from these, the Prime Minister also listed out the Securities Market Code Bill introduced in Parliament, the repeal of hundreds of outdated laws, the revocation or suspension of various quality control orders (QCOs) and the implementation of the labour codes among the notable reforms carried out in the year ending on Wednesday.
(Manas Dasgupta)
