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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.)

Silent Money Killer: Loss of Buying Power

In personal finance, we often worry about losing money in the stock market, dislike the volatility associated with equities or mutual funds, or feel anxious about missing out on a hot investment tip. Yet the biggest threat to our wealth is far quieter and far more dangerous: loss of buying power. It is the invisible erosion of your money caused by inflation - a force that operates every single day, without pause, without headlines, and often without being noticed until it is too late.

Inflation does not take away your capital visibly. It does not reduce the number in your bank account. Instead, it reduces what that number can buy. A Rs 100 note today buys far less than what it did ten years ago. This gradual and relentless decline is what truly destroys long-term financial security.


The real damage happens when people invest in financial products that earn less than 10 per cent returns, especially over long periods. India’s long-term inflation averages around 6 to 7 per cent. When you add lifestyle inflation - the rising cost of healthcare, education, housing, travel, and personal aspirations - your effective inflation rate is often much higher.


So, if you are earning 5 to 8 per cent on your money, you are not growing your wealth. You are moving backward.


This is why low-yield products, despite feeling safe, often end up becoming wealth destroyers. Your money appears protected, but its strength - its ability to buy goods, services, experiences, and opportunities - is weakening year after year.


Fixed-income products like bank fixed deposits and recurring deposits are essential, but only for short-term goals within the next three years. Beyond that period, the returns simply do not keep pace with inflation. A few products are a financial mess - they are locked in for the long term with poor liquidity and still give less than 8 per cent returns, which creates major problems in your financial goals journey.


To genuinely grow wealth, your investments must consistently outperform inflation and achieve more than 10 per cent returns. For long-term financial goals - whether 5, 10, or 20 years away - only a few asset classes have historically achieved this:


Direct stocks

Equities represent ownership in businesses. As companies grow their revenues and profits, shareholders participate in that growth. Over long horizons, equities remain one of the most reliable inflation-beating asset classes.


Equity and hybrid mutual funds

These funds offer equity-debt-gold diversification, professional management, and disciplined investment structures that are essential for long-term compounding.


Gold

Gold has been a time-tested hedge against inflation and periods of economic uncertainty.


Ultimately, financial planning is not about protecting your principal. It is about protecting and enhancing your purchasing power. That is what funds your child’s education, your child’s marriage, your retirement lifestyle, and your long-term dreams.


Inflation does not announce its arrival. It works silently. The only defense is intelligent asset allocation and a long-term investment mindset.

Your money is supposed to work for you. Make sure it continues to do so - not just in numbers, but in real value.


(The author is a Chartered Accountant and CFA (USA). Financial Advisor.Views personal. He could be reached on 9833133605.)

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