New Delhi,
Delivering a message intended to calm fears about the state of the economy, BJP chief Amit Shah today told the industry that the Modi government was taking long-term decisions for economic stability which may bring some short-run pain.

In this context, he said the demonetisation exercise has expanded the formal economy and pulled out black money from hiding places. Demonetisation, he said, was an example of the effort of the government to delink development for all from vote-bank pressures. The note ban will increase the size of the formal economy. It has unnerved black money generators and increased the tax base from 3.7 crore taxpayers, achieved during the past 65 years, to 6.3 crore in the past three years alone, he said.

With the economy seen to be wobbly after several disruptive policy moves, the BJP chief’s message to the industry is that things will get better, though there may be some short-term turbulence.

Addressing a FICCI meeting, Shah said all government decisions are part of a well-thought-out strategy to give the country a stable policy for the next 30 years.

“After the formation of the government, we started taking long-term decisions and we seek to provide a stable policy regime for the next 30 years,” he said. “We have changed the very definition of infrastructure development to touch the lives of all through financial and social inclusion.”

“The BJP government that took office three years ago has transformed people’s thought process and has been successful in creating ‘Brand India’. It is now for the Indian industry to cash in on the high pedestal that the economy has been placed,” Shah said.