A poet, a true nationalist at heart, Our Former Prime Minister Shri Atal Bihari Vajpayee sacrificed his entire life for the country. He did not die for it but lived to see its aims and aspirations getting fulfilled.
- Atal Bihari Vajpayee entered PMO with trouble as there was a massive Asian economic crisis and later followed by the dot com burst that hurt Indian companies.
- But by the December of 2004, Indian economy was again on its feet.
- Major progress in infrastructure occurred in his term with new expressway roads, modern airports etc, constructing for new India.
- He was the one, who boldly took India nuclear that hurt in the short term, but removed the uncertainty and is now recognized as a nuclear power giving us access to new technology.
- He made a sincere attempt to mend relationships with Pakistan and when that was betrayed decisively acted in Kargil war.
- India also healed its long weakened ties with the west, without impacting ties with oldest-friend Russia!
- He abolished the draconian MRTP which though diluted by P V Narasimha Rao but not repealed put the undue restriction on the profitability of Companies and replaced it with a market friendly Competition Act.
- Kelkar Task Force was set up to initiate Tax Reforms which led towards a simplified tax regime thus attracting investment.
- Expenditure Reforms Commission was set up to reduce revenue expenditure of the Government.
- His Government passed the Fiscal Responsibility and Budget Management Act which put a legal burden on the Govt to be fiscally responsible. He even gave incentive to states to be fiscally responsible which they followed and agreed to.
- He initiated the process of reforming all BFSI(Banking, Financial Services and Insurance) institutions. IRDA was setup.
- Stock Exchanges were reformed, corporatized, demutualized and made globally competent.
- Foreign Investment was promoted in India, something which had become unthinkable in India.
- Pension Sector reforms were initiated which led to the reduction of burden on the public exchequer.
- Public Sector Reforms were initiated and he had the courage to sell sick PSUs and go for strategic disinvestment in PSUs.
- Pradhan Mantri Gram Sadak Yojana – Fully funded by the central government, it created all all-weather road connectivity to unconnected villages which led to their economic integration with the national market.
These measures may not seem all shiny and glorious, but these are the steps responsible for the 8-9% growth UPA.
Below is one of the famous speech by Atal Bhari Vajpayee, “Here comes my resignation, Mr Speaker!” in Lok Sabha.
He wrote wonderful poems and has beautifully penned hi thoughts.
We, as Indians, must recognize our national heroes and give them the respect they deserve. A nation that forgets its heroes will itself be forgotten.