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Veteran global investor Jim Rogers on Thursday said the government under Prime Minister Narendra Modi clearly understands that more incentives should be given to people, regulations need to be brought in and taxes need to be cut in order to become a Viksit Bharat (Developed India) by 2047. 

In an interaction with IANS, 82-year-old Rogers said a free and open market can help India become really successful.

“The new government, for the first time, understands that you need to give people incentives, you need to cut regulations, you need to cut taxes and you need to cut red tape,” said Rogers.

From employment-linked incentives and affordable healthcare to production-linked incentive (PLI) schemes, the BLP-led NDA government has announced several schemes which have empowered millions of Indians across age-groups.

The Union Budget has proposed five schemes with an outlay of Rs 2 lakh crore to generate jobs for the youth. Union Finance Minister Nirmala Sitharaman said the Centre will implement three schemes for 'Employment Linked Incentive' as part of the Prime Minister's package.

PM-JAY is the world's largest health assurance scheme, extending comprehensive secondary and tertiary care hospitalisation benefits of up to Rs 5 lakh per family annually. It will benefit nearly 55 crore individuals that form the bottom 40 per cent of the population in the country.

More than Rs 1.1 lakh crore has been spent on providing free hospitalisation under the flagship PM-JAY since its inception in 2018.

Moreover, about four lakh elderly women aged 70 and above have enrolled for the Ayushman Vay Vandana Card in the last three weeks since its launch in October-end.

According to Rogers, there are a lot of smart, educated people who need to be encouraged to innovate. If this is done, India is going to become one of the great nations of the world again.

"And if Delhi cuts the regulations, cuts the red tape, cuts the taxes, cuts the tariffs, then the country can be very, very successful," Rogers said.