Potential, policy, planning, performance: Modi's formula for progress

Mumbai: The BJP-led government's budget reforms have created a new work culture and are transforming the socio-economic landscape of the country, Prime Minister Narendra Modi said in Mumbai on Sunday.

The government, he said, is working in the times of disruption and discontent. 

"Our budget is not limited to outlay, its focus is on outcome. Our reforms in budget making and presentation have created a new work culture and are transforming the socio-economic landscape," he said.

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Modi was speaking after inaugurating the 'Magnetic Maharashtra' Global Investors Summit in suburban Bandra.

"We are moving in a direction where the state is policy driven, governance is performance driven, government is accountable and democracy is participative," he said.

"We are working in times of disruptions and discontent," Modi added.

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In the last three and half years, the government has transformed the country from being a fragile five' nation to one now aspiring USD 5 trillion GDP, he said.

"I am sure that Maharashtra will become the first trillion dollar economy in the country. Maharashtra's development is representative of changes in the country," he said.

A country progresses only when it has a vision and works for inclusiveness, Modi said.

"Potential, policy, planning and performance leads to progress." He said the government in the last three years has repealed 1,400 laws and the new ones are being written with the intent of simplification, not to complicate (things). On investments, he said there is a healthy competition among states to attract investments as per their strengths.

"What started with Gujarat is visible all across the country now. I congratulate Maharashtra government for the work on ease of doing business and making it easier for investors," he said.

The 'Samruddhi corridor' (between Mumbai and Nagpur) will help boost agriculture and agriculture-based industries, he said.

On the Centre's development initiatives, Modi said, "We will create 1.5 lakh wellness centres in bigger gram panchayats".

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Besides, Modi said, 10.5 crore people have been accepted under MUDRA scheme and Rs 4.60 lakh crore has been disbursed to small businesses.