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By:

Devendra Fadnavis

9 June 2026 at 5:42:34 pm

Trust, Development and India’s Rise

The story of India’s rise in the last decade has been marked by economic reform, infrastructure expansion and renewed national confidence When a public journey completes twelve years, it is often seen as a significant milestone marked by perseverance, dedication and an unwavering commitment to a larger goal. Therefore, as Prime Minister Narendra Modi completes twelve years of leadership, this period must be assessed through the lens of sustained effort, transformative governance and...

Trust, Development and India’s Rise

The story of India’s rise in the last decade has been marked by economic reform, infrastructure expansion and renewed national confidence When a public journey completes twelve years, it is often seen as a significant milestone marked by perseverance, dedication and an unwavering commitment to a larger goal. Therefore, as Prime Minister Narendra Modi completes twelve years of leadership, this period must be assessed through the lens of sustained effort, transformative governance and measurable outcomes. Viewed from this perspective, these years represent a remarkable era of service, commitment and good governance. Every enduring journey has two dimensions. When it is undertaken for the welfare of society, its benefits ultimately reach society itself and positively impact diverse sections of the population. The outcomes of Prime Minister Modi’s efforts are visible in the unprecedented transformation witnessed in the lives of ordinary citizens. From 2014 to 2026, his twelve-year tenure has emerged as a defining phase in India's contemporary history. It has not merely been a period of political leadership, but a unique confluence of trust, development, good governance, cultural resurgence and public welfare. Global Leader Today marks another significant milestone. As an elected Prime Minister, Narendra Modi has completed 4,399 consecutive days in office, surpassing the record set by Jawaharlal Nehru. Some may argue that comparisons between Nehru and Modi are inappropriate. However, when Nehru assumed office, there was a widespread perception that he had no political alternative. By contrast, when Modi became Prime Minister, Indian democracy had matured considerably. Citizens understood both the power and significance of their vote. They were aware of their aspirations and expectations, and recognised that governments exist to serve public welfare. It was under these circumstances that Modi assumed office in 2014. The electorate entrusted him with responsibilities that successive Congress governments had failed to fulfil over five decades. Accepting that challenge, he articulated the vision of “Sabka Saath, Sabka Vikas,” which later evolved into “Sabka Vishwas, Sabka Prayas.” After securing victories in 2014, 2019 and 2024, he today stands at the forefront of India’s emergence as a global leader. The mandate of 2024, following the decisive verdicts of 2014 and 2019, was not merely an electoral victory. It represented a renewed endorsement of development, good governance and stable leadership. Modi became the first leader since 1962 to serve a third consecutive term as Prime Minister. At a time when many democracies across the world are grappling with political instability, India chose continuity, stability and decisive governance. Over the past decade, the country has strengthened its position through economic reforms, social transformation, infrastructure development, national security and an assertive foreign policy. The more than twenty-four highest civilian honours conferred upon him by nations around the world reflect this growing global recognition. This has not been the journey of a single leader alone; it has been a collective national endeavour. As a result, India’s economy has expanded from approximately $2 trillion to $4.18 trillion, making it the world’s fourth-largest economy. Economic prosperity is indispensable for achieving social justice. Modi not only recognised this reality but also worked consistently to realise it. Initiatives such as Make in India and Atmanirbhar Bharat instilled confidence among Indians and enhanced global trust in Indian products. Today, demand for indigenous defence equipment has risen so sharply that projected production for the next decade may struggle to meet requirements. This reflects the true strength of a self-reliant India. Historic Achievements One of the government’s historic achievements has been the substantial reduction of Left-Wing Extremism across twelve affected states. Regions that remained untouched by development for decades are now witnessing tangible progress. Nearly 20 crore people had long lived under the shadow of fear and deprivation. Naxalism stalled development and adversely affected thousands of young lives. Today, the situation is changing. Industrial projects, including steel plants, are being established in areas such as Gadchiroli. Universities, medical colleges and major educational institutions are being set up. The voice of development is gradually replacing the sound of conflict. Over the last twelve years, India has witnessed unprecedented growth in infrastructure development. The national highway network has expanded from approximately 91,000 kilometres to nearly 1.46 lakh kilometres. Highways are being constructed at an average pace of 34 kilometres per day. Under the Pradhan Mantri Gram Sadak Yojana, millions of kilometres of rural roads have transformed the lives of farmers, students and rural communities. Railway electrification has accelerated significantly, while initiatives such as Vande Bharat Express and the Amrit Bharat Station Scheme have redefined the image of Indian Railways. The country’s metro network has grown from 248 kilometres to more than 1,095 kilometres. The Modi government has placed the farmer at the centre of the development agenda. Through the Pradhan Mantri Kisan Samman Nidhi, direct financial assistance has been extended to more than 11 crore farmers. Significantly, the first file cleared during the government’s third term pertained to farmer welfare, underscoring this priority. Under the Pradhan Mantri Krishi Sinchai Yojana, the “Per Drop More Crop” initiative has brought millions of hectares under micro-irrigation. Agricultural output has reached record levels, and India has emerged as the world’s largest producer of milk. Through the Pradhan Mantri Garib Kalyan Anna Yojana, free food grains have been provided to 81 crore citizens. More than four crore families have received permanent homes under the Pradhan Mantri Awas Yojana. The Ujjwala scheme has enabled over eleven crore women to access LPG connections. Under Ayushman Bharat, millions of citizens have benefited from free health insurance coverage. The Jal Jeevan Mission has ensured access to clean drinking water for more than sixteen crore households. Women’s empowerment has occupied a central place in government policy. Women account for a significant share of Jan Dhan account holders. The Lakhpati Didi initiative has helped millions of women achieve greater economic independence. Programmes such as Sukanya Samriddhi Yojana, maternity benefits, the strengthening of self-help groups and the growing participation of women in the armed forces have advanced the vision of women-led development. Digital Transformation India has also scripted a new chapter in digital transformation. Through the JAM trinity—Jan Dhan, Aadhaar and Mobile—lakhs of crores of rupees have been transferred directly to beneficiaries. India has emerged as a global leader in UPI transactions. BharatNet has connected lakhs of gram panchayats through optical fibre networks. Digital governance, faceless taxation and the Government e-Marketplace (GeM) have enhanced transparency and efficiency in public administration. India today engages with the world on the basis of equality and mutual respect. The nation seeks trade, investment and technology, but without compromising its dignity or self-respect. During the Russia–Ukraine conflict, India demonstrated its ability to pursue an independent foreign policy, placing national interests above external pressures. Today, India is the world’s fourth-largest economy. Initiatives such as Make in India, Startup India and the Production-Linked Incentive (PLI) scheme have accelerated manufacturing growth. India has become the world’s second-largest mobile phone manufacturer. Electronics production has increased manifold. Significant investments have been attracted for semiconductor manufacturing, and the country is rapidly positioning itself as a global manufacturing hub. Encouraged by policy support, India’s startup ecosystem has grown to more than two lakh startups and hundreds of unicorns. During these twelve years, India has also reaffirmed its cultural identity with renewed confidence. The construction of the Ram Temple in Ayodhya, the Kashi Vishwanath Corridor, Mahakal Lok and the redevelopment of Kedarnath have infused new energy into the nation’s spiritual consciousness. Modi, who began his public life by paying homage to Chhatrapati Shivaji Maharaj, has also advanced initiatives such as the Panchteerth dedicated to Dr B.R. Ambedkar, the observance of Birsa Munda Jayanti as Janjatiya Gaurav Divas, the Statue of Unity honouring Sardar Vallabhbhai Patel, commemorative initiatives for Netaji Subhas Chandra Bose, Kartavya Path and the new Parliament building—each symbolising national pride and identity. Maharashtra has been among the principal beneficiaries of this development trajectory. Prime Minister Modi has extended support to the state in addressing its major developmental needs and challenges. From facilitating land for the Indu Mill Memorial to supporting projects such as the Amravati Textile Park, Vadhvan Port, Navi Mumbai International Airport, Samruddhi Mahamarg, Atal Setu, the Coastal Road and metro rail networks, his backing has been instrumental in advancing key infrastructure initiatives. Today, the world no longer views India merely as a large market. It increasingly recognises India as a reliable, responsible nation capable of contributing solutions to global challenges. India stands confidently on the world stage. These twelve years have laid a strong foundation for the vision of Viksit Bharat 2047. The journey of trust, development and people’s participation is poised to gather even greater momentum in the years ahead—a belief shared by millions of Indians. (The writer is the Chief Minister of Maharashtra.)

FY 2025–26 Tax Planning: Tips for the Salaried Individual

Plan early, choose wisely and invest smartly to enter FY 2025–26 with lower tax and greater financial stability.

Most salaried individuals rush into tax planning at year-end, leading to poor choices and stress. With the New Tax Regime taking focus for FY 2025–26, early planning is wiser—it reduces tax, improves cash flow and clarifies long-term goals. The guidelines below provide a simple, structured approach.


1. Choosing Your Tax Regime

Your first step is choosing between the Old Regime and the New Regime. This single choice shapes your entire tax year.


The Old Regime suits taxpayers who claim multiple deductions, offering many exemptions for those paying rent, servicing a home loan or investing in PPF, ELSS and insurance, though tax rates are higher. The New Regime is better for those with few deductions, providing lower rates but limited exemptions, and has been the default since FY 2023–24.


Professional CA tip: At the start of April, prepare a sheet listing expected 80C investments, health insurance, home loan interest, HRA exemption, NPS and other deductions, then compare both regimes to see which results in lower tax.


2. Maximise Section 80C

Section 80C allows a deduction of up to Rs. 1,50,000.


Typical 80C options include EPF, PPF and ELSS. Other eligible choices include life insurance premiums, 5-year tax-saving FDs, Sukanya Samriddhi Yojana, children’s tuition fees and home loan principal.


Tip: Check how much EPF already covers before investing more. Many employees unknowingly overinvest.


3. Sec. 80D: Med. Ins. Deduction

Health insurance offers both tax relief and financial protection. You can claim a deduction of Rs. 25,000 for premiums paid for yourself, your spouse and your children, and an additional Rs. 50,000 if you are paying for health insurance for your senior-citizen parents.


Why it matters: Medical costs are rising, and one emergency can wipe out savings. Buying a policy early keeps premiums lower and ensures the full deduction.


4. Fully Use HRA

HRA is a key tax saver for salaried individuals in rented homes. The exemption is the lowest of three values: actual HRA received, 50 per cent of salary in metros (40 per cent in non-metros), or rent paid minus 10 per cent of salary. To claim it, you must submit rent receipts, a rent agreement and your landlord’s PAN if annual rent exceeds Rs.1 lakh.


Common mistake: Waiting till year-end for receipts. Keep them monthly.


5. Home Loan Deductions

A home loan offers two main tax benefits: up to Rs. 2 lakh a year as an interest deduction under Section 24(b) for a self- or family-occupied property, and principal repayment eligible under Section 80C within the Rs. Rs.1.5 lakh limit.


Joint loans: If the property is jointly owned and both borrowers pay EMIs, each may claim deductions.


6. National Pension System (NPS)

NPS provides an extra Rs. 50,000 deduction under Section 80CCD(1B) beyond the 80C limit. It is a strong long-term retirement option, investing across equity, bonds and debt for balanced growth.


CA tip: Employer NPS contributions remain tax-beneficial even under the New Regime.


7. Leave Travel Allowance (LTA)

LTA can be claimed only for travel within India and only for actual travel fares—bus, train, or air. It does not cover food, accommodation, sightseeing or tour packages.


You may claim LTA twice in a four-year block. Keep original tickets.


8. Salary Structure Review

Your salary structure affects your tax benefits, yet many people overlook it and lose exemptions. Adding tax-efficient components such as meal coupons, fuel and phone reimbursements, a books and newspaper allowance, and a uniform allowance (where applicable) can help optimise your take-home pay.


Ask HR if these can be added to reduce taxable income.


9. Manage Capital Gains

If you invest in shares or mutual funds, plan your capital gains early. Long-term gains up to Rs. 1 lakh a year are tax-free, so spreading your sales can lower tax and help you avoid large, last-minute redemptions.


Early planning helps manage profits and taxes better.


10. Submit Proofs on Time

Missing investment or expense proofs can increase TDS and reduce your take-home pay, so submit them on time. Ensure you provide all key documents, including rent receipts, insurance and investment proofs, NPS statements and your home loan interest certificate.


Timely submission keeps TDS correct and reduces refund delays.


11. Begin Planning in April

Last-minute tax planning can lead to unnecessary expenses, while early planning helps you spread investments, pick suitable products, avoid unwanted policies, and protect your emergency fund.


Tax planning is not just about reducing tax; it helps build a strong financial base. Choose the right regime, claim eligible deductions, optimise your salary structure and invest early. With proper planning before FY 2025–26 starts, you can achieve better savings, a lower tax burden and greater long-term stability.


(The writer is a Chartered Accountant based in Thane. Views personal.)

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