Government to set up Deregulation Commission to reduce state's interference: PM Modi

Addressing the gathering at the ET Now Global Business Summit 2025, PM Modi announced that the government will form a Deregulation Commission to reduce the role of the state in people's lives.

"Today, be it major nations or global platforms, the confidence in India is stronger than ever, PM Modi said, noting that the sentiment was reflected in the AI Action Summit in Paris as well.

PM Modi returned from his visit to France and the US on Friday.

"Today, India is at the centre of the Global Future discussions and also leading in some as well," he said.

He said this was a consequence of a new revolution of reforms in India since 2014.

PM Modi highlighted that India entered in the top five largest economies in the world in just the last decade and the country will be the largest economy in a few years.

He emphasized that this was the necessary pace for a young country like India.

He said reforms were being out of conviction and not compulsion.

Highlighting that until recently, the penal codes in India dated back to 1860 which aimed at strengthening colonial rule and punishing citizens, PM Modi noted that a system rooted in punishment could not deliver justice, leading to prolonged delays.

He remarked that since the implementation of the new criminal justice laws, noticeable changes have occurred. For example, in a triple murder case, it took just 14 days from FIR to sentencing, resulting in life imprisonment.

Similarly, a case of a minor's murder was concluded within 20 days.

The Prime Minister pointed out that in Gujarat, a gang rape case registered on October 9, 2024 saw a charge sheet filed by October 26, and today, the court has convicted the accused.

He cited another example from Andhra Pradesh, wherein a crime involving a 5-month-old child, the court sentenced the perpetrator to 25 years, with digital evidence playing a crucial role. In another case, the e-prison module aided in locating a rape and murder suspect who had previously served time for a crime in another state, leading to a swift arrest. He said there are numerous instances where people are receiving timely justice.

Pointing to a major reform undertaken related to property rights, PM Modi referred to a UN study indicating that the lack of property rights in a country is a significant challenge.

He pointed out that millions worldwide lack legal property documents, and having property rights helps reduce poverty.

He noted that previous governments were aware of these intricacies but avoided such challenging tasks.

He emphasized that this approach doesn't build or run a country.

PM Modi said the Swamitva Yojana was initiated, in which over three lakh villages in the country underwent drone surveys, and over 2.25 crore people received property cards.

He remarked that due to the Swamitva Yojana, property worth Rs 100 lakh crore has been unlocked in rural areas.

This property existed earlier but couldn't be utilized for economic development due to the lack of property rights, he added.

The Prime Minister highlighted that due to the absence of property rights, villagers couldn't obtain loans from banks.

He added that this issue has now been permanently resolved and today, there are reports from across the country on how people benefit from Swamitva Yojana property cards.

Remarking that after independence, numerous districts in the country were left untouched by development due to poor governance, PM Modi said instead of focusing on these districts, they were labelled as backward and left to their fate.

No one was willing to address their issues, and government officers were sent there as punishment postings, he noted.

"We changed this approach by declaring over 100 districts as Aspirational Districts," he said, adding that young officers were sent to these districts to improve governance at the micro-level, who worked on indicators where these districts lagged behind and implemented flagship government schemes in mission mode. "Today, many of these aspirational districts have become inspirational districts", he said.

He highlighted that a decade ago, Indian banks were in crisis, and the banking system was fragile, with millions of Indians outside the banking system.

"India was among the countries with the most challenging access to credit," he added.

He said the government's strategy to strengthen the banking sector includes "banking the unbanked, securing the unsecured, and funding the unfunded".

He noted that financial inclusion has significantly improved, with nearly every village now having a bank branch or banking correspondent within a 5-kilometer radius.

He added from April to December, public sector banks have recorded a profit of over Rs 1.25 lakh crore.

PM Modi emphasized that this isn't just a change in headlines but a systemic change rooted in banking reforms, demonstrating the strengthening of pillars of the economy.

"Over the past decade, our Government has transformed the 'fear of business' into 'ease of doing business'," he said.

He highlighted the benefits industries have gained from the establishment of a single large market through GST. He emphasized that there has been unprecedented development in infrastructure over the past decade, leading to reduced logistics costs and increased efficiency.

PM Modi pointed out that the Government has eliminated hundreds of compliances and is now further reducing compliances through Jan Vishwas 2.0.

He said hundreds of compliances and process is being carried forward to promote ease of doing business.

To reduce government interference in society, a Deregulation Commission is also being established, the Prime Minister said.

"The true foundation of a developed India is trust and this element is essential for every citizen, every government, and every business leader," he said.

He said innovators were being provided with an environment where they can incubate their ideas, while businesses were assured of stable and supportive policies.

Highlighting that India is witnessing a significant transformation related to future preparedness, PM Modi remarked that during the first Industrial Revolution, India was under the grip of colonial rule.

He added that during the second Industrial Revolution, while new inventions and factories emerged worldwide, local industries in India were being destroyed, and raw materials were being taken out of the country. He pointed out that even after independence, conditions did not change much. When the world was moving towards the computer revolution, in India, one had to obtain a license to buy a computer, he noted. "Although India couldn't benefit much from the first three Industrial Revolutions, the country is now ready to match steps with the world in the Fourth Industrial Revolution", the Prime Minister emphasized.

"Our Government considers the private sector a crucial partner in the journey towards a Viksit Bharat", he said.

He noted that many new sectors have been opened up for the private sector, such as the space sector, where many young people and startups are making significant contributions.

He highlighted that the drone sector, which was closed to the public until recently, now presents vast opportunities for the youth.

The commercial coal mining sector has been opened to private firms, and auctions have been liberalized for private companies, he added.

The Prime Minister remarked that the private sector plays a significant role in the country's renewable energy achievements, and the Government is promoting private sector participation in the power distribution sector to enhance efficiency. He also underlined that a significant change in the recent budget is the opening of the nuclear sector for private participation.

Prime Minister remarked that today's politics has become performance-oriented and the people of India have clearly stated that only those connected to the ground and delivering results will sustain.

He added that their Government has understood people's issues with sensitivity and taken necessary steps with passion and enthusiasm to resolve them. (ANI)