The year 2024–25 is a very important year in India’s economic journey. As per the latest report by NITI Aayog, India has now become the fourth-largest economy in the world, passing Japan. This is not just a number but a result of the big changes made in the country during the last 10 years under the strong leadership of Prime Minister Shri Narendra Modi ji.
India’s Economic Journey
After independence, India followed a slow path of development. In 1991, economic reforms gave a new direction to the country. But the real growth started after 2014, when Prime Minister Shri Narendra Modi ji came to power. His government focused on building a strong and self-reliant India.
Programs like Make in India, Startup India, Digital India, Swachh Bharat, Jan Dhan Yojana, GST, and Aatmanirbhar Bharat helped in changing the country’s economy. These steps increased jobs, attracted foreign companies, and supported small businesses.
A Big Milestone: Beating Japan
NITI Aayog has confirmed that India’s GDP (Gross Domestic Product) is now around $3.7 trillion, which is more than Japan’s $3.6 trillion. This is a proud moment for India. It shows that the country is growing fast and becoming stronger in the global economy.
Big Reforms by Prime Minister Sri Narendra Modi Ji
When PM Modi came to power in 2014, he promised development for all. Some of the important changes made by his government are:
Make in India:-This program encouraged companies to manufacture in India. It created jobs and helped in increasing exports.
GST (Goods and Services Tax):-This was India’s biggest tax reform. It made the tax system simple and brought all states under one tax rule—“One Nation, One Tax”.
Digital India:- It improved internet access across the country. It also helped in digital payments, online shopping, and government services.
Jan Dhan Yojana:- Millions of poor people got access to bank accounts, which increased digital transactions and made the economy more formal.
Startup India and Mudra Loans:-These schemes encouraged youth to start their own businesses and helped small businesses to grow.
Aatmanirbhar Bharat (Self-Reliant India):- After COVID-19, India focused on local production and reducing dependence on imports.
Future Goal: Becoming the 3rd Largest Economy by 2028
According to NITI Aayog, if India continues to grow at this speed, it can pass Germany’s economy ($4.4 trillion) by 2028 and become the third-largest economy in the world. To do this, India must continue working hard in areas like roads, education, health, jobs, and global trade.
India’s Rising Global Role
Today, India is not just a big market, but also a strong voice on the global stage. Whether it’s leading the G20 summit or being part of BRICS, India is playing an important role in world politics and economy. This is the result of PM Modi’s smart and strong foreign policy.
Becoming the 4th largest economy is not just about money. It is the story of a nation that is working hard to achieve big dreams. With the right policies, strong leadership, and support from the people, India is now moving fast toward becoming a developed nation.
This success is due to the efforts of millions of Indians, good planning, and a strong government. If India continues in the same direction, the day is not far when it will become the world’s largest economy.
India today is full of confidence and this confidence will take the country into a bright and powerful future.
Ashok Baraik is MA in Political Science, presently State Media Co-In-charge, BJP Jharkhand.