logo
India's strength lies in its growing middle class: PM Modi says 25 cr moved out of poverty

India's strength lies in its growing middle class: PM Modi says 25 cr moved out of poverty

First Post3 days ago
In his Independence Day speech, Prime Minister Narendra Modi hailed 25 crore people moving out of poverty and said that the country's strength lies in its growing middle class.
In his Independence Day speech, Prime Minister Narendra Modi on Friday hailed 25 crore people moving out of poverty and said that the country's strength lies in its growing middle class.
Modi said that he has himself seen poverty and that's why he makes sure that government's policies are not just limited to official files.
'There was a time when the poor, the marginalised, tribals, and persons with disabilities had to wander for their rights, spending their lives running from one government office to another. Today, the government comes to your doorstep, delivering schemes directly to the beneficiaries,' said Modi.
STORY CONTINUES BELOW THIS AD
The prime minister further hailed government's initiatives like the Jan Dhan Yojana, Ayushman Bharat, PM Awas Yojana, and Swanidhi Yojana, that are aimed at supporting people with financial inclusion, healthcare, housing, and self-employment aspects.
#WATCH | Delhi: Prime Minister Narendra Modi says, "I didn't have to read about what poverty is in books, I know what it is. I have also served in the government, and that is why I have always tried to ensure that the government should not remain confined to files; it should… pic.twitter.com/klJu2JmGWD — ANI (@ANI) August 15, 2025
Separately, Modi also announced the 'Pradhan Mantri Viksit Bharat Rojgar Yojana' that will provide Rs 15,000 to people getting jobs for the first time. The scheme will also provide incentives to private companies to generate jobs.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

GST Reforms: From Maruti Suzuki, Eternal to Voltas and HUL - Experts bullish on these 26 stocks. Should you buy?
GST Reforms: From Maruti Suzuki, Eternal to Voltas and HUL - Experts bullish on these 26 stocks. Should you buy?

Mint

time28 minutes ago

  • Mint

GST Reforms: From Maruti Suzuki, Eternal to Voltas and HUL - Experts bullish on these 26 stocks. Should you buy?

The Indian stock market jumped over 1.5% on Monday, following the government's proposal for significant reforms to the complex goods and services tax (GST) system, along with favourable global indicators amid easing geopolitical tensions. PM Modi declared that 'next-generation GST reforms' are set to be introduced by Diwali (October 2025). Analysts believe that the proposed changes, intended to lessen the tax burden on families, are likely to enhance consumption demand and assist in the ongoing recovery of the sector. Although specific details of the GST overhaul have not been revealed yet, it is anticipated to involve the simplification of GST rates for essential goods and frequently used items. Reports suggest that the government may abolish the 12% and 28% GST categories, consolidating products into 5% (with 99% of items in the 12% category expected to transition), 18% (with 90% of products in the 28% category likely to shift), and 40% (reserved for luxury and sin goods) categories. Analysts believe that post-GST reforms, markets are set to focus on consumption-driven sectors such as autos, FMCG, durables, insurance, paints, and logistics, with demand and margin tailwinds in play. 'Key sectors that stand to benefit include:Consumer Staples (through better demand, lower raw material costs), Automobiles (4 wheelers), Cement, Hotels (sub ₹ 7,500 room rate inventory), Retail (footwear), Consumer durables (mainly RACs), Logistics, Quick Commerce, and EMS (likely better demand for ACs),' said brokerage Motilal Oswal in its report. According to analysts at Motilal Oswal, Maruti, Tata Motors, and Ashok Leyland are likely to gain in the automotive sector due to the 4Ws being placed in the 28% tax bracket; they should benefit from the reduced GST rate of 18%. The brokerage anticipates that ICICI Bank, HDFC Bank, and IDFC First Bank will experience advantages in the banking sector. The entire sector is expected to benefit as consumption rises; this will enhance household confidence and increase demand for loans, thus pushing credit growth into double digits in 2HFY26; consumer-focused lenders and credit card companies will see direct benefits. Among non-banking financial companies, Bajaj Finance is positioned to benefit, as reduced EMI obligations for consumer durables should enhance NBFC lending within this category. In the cement industry, Ultratech and JK Cement will likely benefit from improved sentiment; a drop in GST from 28% to 18% could result in a decrease in prices by about 7.5% to 8%, although demand may be less sensitive. In the consumer staples sector, HUVR and Britannia are expected to gain since most items fall under the 18% tax bracket; staple companies tend to benefit from this as several raw materials are taxed at a 12% rate, leading to lower input GST; this segment is crucial for the government's revival efforts. Voltas and Havell's stand to benefit in the Consumer Durable sector, as air conditioners will be subject to a reduced GST of 18% instead of 28%. In the insurance industry, the brokerage mentioned that Niva Bupa, Max Life, HDFC Life, and Star Health can benefit, particularly since policies for senior citizens currently incur an 18% tax, but there is a chance that this could be lowered to 5% or completely exempted. If this happens, health insurers and those focused on term life policies may see advantages. Stocks to benefit Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

Wang Yi in India: China's top diplomat to meet PM Modi tomorrow; hold 24th round of boundary talks with Doval
Wang Yi in India: China's top diplomat to meet PM Modi tomorrow; hold 24th round of boundary talks with Doval

First Post

time28 minutes ago

  • First Post

Wang Yi in India: China's top diplomat to meet PM Modi tomorrow; hold 24th round of boundary talks with Doval

As Chinese Foreign Minister Wang Yi is all set to visit India, his itinerary includes a meeting with Prime Minister Narendra Modi. The Chinese diplomat will arrive in New Delhi on Monday China's Foreign Minister Wang Yi attends the 15th East Asia Summit Foreign Ministers' meeting during the 58th Association of Southeast Asian Nations (ASEAN) Foreign Ministers' meeting and related meetings at the Convention Centre in Kuala Lumpur, Malaysia on July 11, 2025. File Image/Pool via Reuters As Chinese Foreign Minister Wang Yi is all set to visit India, his itinerary includes a meeting with Prime Minister Narendra Modi. It is pertinent to note that the veteran Chinese diplomat's visit to New Delhi is happening as PM Modi prepares to embark on a visit to China for the first time in seven years. The Indian prime minister is scheduled to travel to China from August 31 to September 1 for the SCO Summit in Tianjin, where he is expected to hold bilateral meetings with Chinese President Xi Jinping and Russian President Volodymyr Putin. STORY CONTINUES BELOW THIS AD Meanwhile, Wang Yi will arrive in India on Monday for a three-day visit in which he will also hold talks with his Indian counterpart, Dr S. Jaishankar and National Security Adviser Ajit Doval. The foreign ministers' dialogue is scheduled for Monday evening. Meanwhile, Wang Yi and Doval would meet for the 24th round of Special Representatives talks on the boundary question on Tuesday morning, Times of India reported. The Chinese foreign minister's meeting with Prime Minister Modi will take place at 5:30 pm on Tuesday. During their talks, Wang Yi is expected to brief PM Modi about the agenda for the SCO summit and recent progress in Sino-India ties. Jaishankar and Wang Yi will also look into finalising the agenda for the upcoming Modi-Xi bilateral meeting. Apart from this, an announcement of the resumption of direct flights between the two countries is also expected to take place soon.

BMRCL to start Yellow Line one hour early on August 18
BMRCL to start Yellow Line one hour early on August 18

Hans India

time28 minutes ago

  • Hans India

BMRCL to start Yellow Line one hour early on August 18

Bengaluru: With Independence day holidays and the weekend drawing large numbers of people out of the city, Bengaluru is bracing for a heavy rush of returning commuters on Monday, August 18. Anticipating increased passenger load, the Bangalore Metro Rail Corporation Limited (BMRCL) has decided to start operations on the Yellow Line one hour earlier than usual. On Monday, Yellow Line metro services will commence at 5:00 a.m., instead of the routine 6:30 a.m. start. The first trains will depart simultaneously from RV Road and Bommasandra Dalmia Electronics City stations, covering commuters traveling between central Bengaluru and the bustling IT corridor. Officials clarified that this advance schedule is a special arrangement only for Monday. From Tuesday, August 19, services will revert to the regular 6:30 a.m. start on the Yellow Line. Meanwhile, metro services on the Purple Line and Green Line will continue as usual, beginning at 4:15 a.m. on Monday, ensuring city-wide connectivity for early commuters. Stretching 19.15 km, the Yellow Line connects RV Road to Bommasandra, linking Bengaluru's central neighborhoods with the IT hub of Electronics City. With 16 stations along the route, the line also offers interchanges with the **Green, Pink, and Blue lines, boosting connectivity across the metro network. Notably, Jayadeva Hospital station, one of the stops on this line, has earned recognition as the tallest and largest metro station in Bengaluru, adding to the corridor's significance. BMRCL officials noted in a statement on social media that the early service aims to ease the return rush of office-goers, students, and travelers, ensuring smoother commuting after the extended holiday break.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store