Key Points

PM Modi outlined plans for various initiatives, including the production of India's first semiconductor chip, the development of jet engines, the creation of ₹1 lakh crore in youth employment opportunities, and a tenfold expansion of the nuclear program.

He presented his vision for "Naya Bharat" (New India) and set the goal of transforming India into a developed nation by 2047. Key points from PM Modi's address included:

1.Semiconductors: From Lost Decades to Mission Mode

Recalling how attempts to set up semiconductor factories 50-60 years ago were "killed at birth" while other nations prospered, PM Modi announced that India is now on mission mode. By the end of this year, the nation will roll out its first Made in India chip.

2.Nuclear Energy Capacity to Grow Tenfold by 2047

Work is underway on 10 new nuclear reactors as part of India's mission to increase nuclear power generation capacity by over ten times in the next two decades.

3.GST Reforms - A Diwali Gift

Next-generation GST reforms will be unveiled on Diwali, reducing taxes on essential goods and providing relief to MSMEs, local vendors, and consumers.

4.Reform Task Force for a $10 Trillion Bharat

PM Modi announced the creation of a dedicated Reform Task Force to drive next-generation reforms. Its mandate: accelerate economic growth, cut red tape, modernise governance, and prepare Bharat for the demands of a $10 trillion economy by 2047.

5.₹1 Lakh Crore PM Viksit Bharat Rozgar Yojana

PM Modi launched a major employment scheme worth ₹1 lakh crore, under which newly employed youth will receive ₹15,000 per month. The scheme aims to benefit 3 crore young Indians, strengthening the bridge from Swatantra Bharat to Samriddha Bharat.

6.High-Powered Demography Mission

PM Modi highlighted the dangers of demographic imbalance due to infiltration and illegal migration in border areas. He announced the launch of a High-Powered Demography Mission to address this national security challenge, ensuring the unity, integrity, and rights of India's citizens are safeguarded.

7.Energy Independence - Samudra Manthan Begins

PM Modi pointed out that a large share of India's budget still goes toward importing petrol, diesel, and gas. He announced the launch of the National Deepwater Exploration Mission to tap ocean resources, alongside major expansions in solar, hydrogen, hydro and nuclear power.

8.Made in India Jet Engines - A National Challenge

PM Modi made a dramatic announcement that just like how we made vaccines during COVID, and UPI for digital payments, we should build our own jet engines too for our jet engines and asked our scientists and youth to take it up as a direct challenge.

- ANI