I wish this was the speech that was made in May 2014. I am sure someone attempting this counterfactual would have many other points to make.
Dear Friends, Brothers and Sisters
The nation has spoken. You have given your mandate, your trust, to our party. You have given us your instructions very clearly. To govern this country so that everyone progresses, and everyone becomes prosperous. We are grateful and humbled. And I, as the leader of the party, bow down my head in humility to you the people of India. You are 130 crore people – rich and poor; Hindu, Muslim, Sikh, Christian, Jain; you speak 26 languages and live in 29 states. And yet, when you speak, you speak clearly and without any doubt. I have heard you loud and clear and as your servant, I bow my head to you.
During the campaign I promised you that this Government will be very different, a government of change. I plan to live up to that promise. You have seen our program in the manifesto. But the time for elections is over, and the time for talking is done. Now, as your servant, you are entitled to know what we plan to do and how it will better your lives. Allow me to lay out the big changes that we will make.
The first job of a government is to ensure that the prosperity of the nation goes up. Without money in the bank, without a job, without food in your stomach, you cannot be a good citizen. If people are seeing their prospects improve, tensions in society will decrease. Most of the tensions we have in our country are about competition for resources – for jobs, houses, land. Our goal is to end these tensions by increasing prosperity.
Prosperity can only come when entrepreneurs and industrialists feel that they can set up companies without any interference or problems. These companies will create jobs. You should no longer expect that the government will be the source of all jobs. Those days are gone. If we keep generating non-productive jobs for people, then we will just be paying salaries. Then how can we invest in roads, railways, ports, airfields, in the latest arms for our defence forces?
To ensure job creation in the private sector, we will do the following
First, reduce the number of clearances and permissions the business needs. We have to ensure the business does not harm the environment, takes care of pollution, and adopts fair labour practices. Other than checking these, we will not interfere in how they run. Permissions will be granted quickly, in fourteen days time, once they satisfy us on these three.
Second, we will give all businesses tax reliefs on their initial years of running. New businesses, and existing businesses expanding operations will be given tax reliefs that are linked to employment generation as well as quantum of investment.
Third, private companies are invited to invest in road infrastructure. We will announce our project preferences in two months time. We will give interested private companies one month to respond to tenders. Every such investment will receive a tax holiday for fifteen years provided the project is completed on time and to our satisfaction.
Fourth, we will cut corporate taxes to bring them in line with other countries in Asia with whom we compete for investment.
Fifth, there will be no tax on dividends. This will encourage people to start investing in stocks and shares to help private companies to invest.
Sixth, in selected sectors like defence, government will announce a Future Purchase Program to enable indigenous industries to plan and develop technologies for investment.
Seventh, we will announce Strategic Industry Partnership Initiatives to create annex exploit technologies for water conservation in farming, river cleanliness, ground water recharge, waste management and alternate energy sources.
In the field of agriculture, the country has made tremendous progress. But more needs to be done to ensure that our farmers can earn good incomes from agriculture. Wherever possible, we will use Minimum Support Prices to help farmers shore up income. But going forward, we will ask FCI to implement cold storage systems to help store food surpluses of items like onions which cause a lot of suffering due to wild price fluctuations – both to farmers as well as to consumers.
We will ask the State Agriculture Ministries to help farmers move to less water-intensive modes of cultivation. This will take a few years to accomplish but we must start now. The country has the lowest per-capita availability of water among all major countries. Global warming is here and it will affect rainfall patterns. We need to be prepared.
Access to credit for farmers will improve in our administration, but to maintain a healthy flow, we will ask farmers to repay loans. Not paying back a loan does not reflect well on our culture. We will ask the States to be extra sensitive to this aspect.
Coming to the Banking system. The previous government had started the Asset Quality Review which is a good step. But we will take it further. First, all politically directed lending will stop. Bank officers will be allowed to make their own decisions on credit. Further if a credit decision is made on the basis of facts, the bank officers will not face criminal prosecution. This will allow them to function freely and without hindrance.
To enable the public sector banks to act without political interference, we are hereby abolishing the Department of Financial Services. There will be no privatisation of the banks but these banks will now have to manage their affairs freely under the total supervision of the RBI. We will appoint individuals of repute to act as Independent Directors representing the government as a stockholder in these banks. But there will be no more remote control.
The tax burden in this country is borne by a very few people. To make this fairer, we propose to do the following.
Income tax will now be paid by all. The threshold for no tax will be set high enough so that poor farmers and poor people do not have to pay. Tax rates for low incomes will be low. It is a national duty to pay to keep your country safe and prosperous. The Income Tax Act will be amended to reflect this aim.
Further this government will abolish all state level Octroi and Sales Taxes and move to a national Goods and Services Tax system. It will take two years to design it properly and two years for it to stabilise. I ask my countrymen to be patient. If we get this right, the immediate benefits can be illustrated as follows: a truck of Alphonso Mangoes from Ratnagiri will take three days to get to the Capital, without any Octroi stops, instead of ten days at present. A separate commission consisting of all states will be set up to ensure that the states do not lose revenue. But if some states do, they should remember the whole nation benefits. Farmers benefit. Industries benefit. Customers benefit.
The Government will provide incentives to those who pay at shops by debit or credit card or by IMPS. The incentive will be credited directly to the payer within 15 days of such payment. Insist on paying by card at a shop. India has the lowest merchant charges, and the merchant saves money in cash handling. WE will introduce schemes to ensure that every Indian is able to pay by card.
Turning to foreign policy – India has always desired peaceful relations with our neighbours, particularly Pakistan. I ask my fellow Indians to be patient. Pakistan is a country in great trouble. But they are our neighbours – and we cannot chose our neighbours. Our government will engage Pakistan at civil society, inter-governmental and in people to people levels. We will punish anyone who launched a terrorist attack on us from their soil. But we will reward such countries for good behaviour.
Last and most important – I wish to address the question of our approach to secularism. There has been a lot of scaremongering about our party during the elections. Do not believe these rumours. There will be some changes but here is what I want to tell my Muslim, Christian, Sikh, Jain and other brothers and sisters from any religion. You are Indian first and last. Hindus are Indian first and last. As Indians you are equal in the eyes of the law. There will be no discrimination – either positive or negative – on the basis of religion. Any person caught doing so will be punished under the Constitution. At the same time, my brothers and sisters from the minority religions, you will agree with me that a lot of misuse of secularism has taken place in the past. Vote bank politics, encouraging illegal migration, fomenting communal violence – all of this has been done by political parties in the past. This ends now. The civilisation of this country has benefited from Islam, Christianity and other religions. But it is largely a Hindu one. This should not scare you. It is the same Hindu religion that welcomed the Parsis, the earliest Christian evangelists, that co-existed with Jainism and Buddhism, and enabled Islam to become an Indian religion. My government will ensure this is not forgotten but this is not at the expense of our fellow Indians from other religions.
My friends, we have a lot to do. Let us swear an oath to work hard. I and my government, as your servants, will make a solemn vow to you to make your lives better over the next five years that you have given us. Jai Hind! Vande Mataram!