REVISING  ECONOMIC POLICIES  :  Modi liberalised India's foreign direct investment policies, allowing more foreign investment in several industries, including in defence and the railways.

  • In his first budget, Finance Minister Arun Jaitley promised to gradually reduce the budgetary deficit from 4.1% to 3% over two years, and to divest from shares in public banks.  Over Modi's first year in office, the Indian GDP grew at a rate of 7.5%, making it the fastest growing large economy.
  • The budgetary allocation for the Sarva Shiksha Abhiyan, or the "education for all" program, declined by 22%.

  • The government also lowered corporate taxes, abolished the wealth tax, and reduced customs duties on gold, jewelry, and increased sales taxes.
  • In September 2014, Modi introduced the Make in India initiative to encourage foreign companies to manufacture products in India, with the goal of turning India into a global manufacturing hub.

  • Modi launched Pradhan Mantri Jan Dhan Yojana in August 2014. The initiative aimed to create bank accounts and debit cards for 150 million families, and to allow them an overdraft of 5000 rupees.The programme also promised accident insurance to each of these families.
  • In October 2014, the Modi government deregulated diesel prices, and later increased taxes on diesel and petrol.
    In June 2015, Modi launched the "Housing for All By 2022" project, which intends to eliminate slums in India by building about 20 million affordable homes for India's urban poor
  • On 25 June 2015, Modi launched a program intended to develop 100 smart cities.[195] The "Smart Cities" program is expected to bring IT companies an extra benefit of 20,000,000,000 rupees.
  • In December 2015, Modi's government signed an agreement with Japan to jointly build a bullet train system linking Mumbai and Ahmedabad
  • He launched Pradhan Mantri Ujjwala Yojana (PMUY) on 1 May 2016 to distribute LPG connections to women of BPL families.
  • On 9 November 2016, the government demonetised Rs 500 and Rs 1000 banknotes, with the stated intention of curbing corruption, black money, the use of counterfeit currency, and terrorism.