Public-friendly reforms amid pandemic result of Centre-state bhagidari, says PM Modi

In an article on LinkedIn, PM Modi said the Centre and states came together to roll out public-friendly reforms in a short span of time amidst the Covid-19 pandemic.

Amid a global financial crisis due to the Covid-19 pandemic, states raised an extra Rs 1.06 lakh crore in 2020-21, which was made possible by an approach of Centre-state bhagidari, Prime Minister Narendra Modi wrote in an article on social media on Tuesday. In a LinkedIn article titled ‘Reforms by Conviction and Incentives’, PM Modi discussed India’s economic response and solutions to the pandemic. “Overall, 23 states availed additional borrowings of Rs. 1.06 lakh crores out of a potential of Rs. 2.14 lakh crores. As a result, the aggregate borrowing permission granted to states for 2020-21 (conditional and unconditional) was 4.5% of the initially estimated GSDP,” PM Modi said. On “innovative” policymaking in the time of Covid-19, PM Modi listed common characteristics of four reforms to which additional borrowings were linked. “Each of the reforms was linked to improving the Ease of Living. Secondly, they also promoted fiscal sustainability,” PM Modi wrote.