Let me now return to the three policy objectives I mentioned. I will start with the performance of Indian economy. Economists talk about GDP growth, inflation, investment, and the fiscal deficit as key economic parameters.
Since this Government took office, growth has increased and inflation has decreased. Foreign investment has increased and the fiscal deficit has decreased. And despite a slow-down in global trade, the balance of payments deficit has also decreased.
Yet, such broad statistics give only a partial picture of what we are attempting, and what we are achieving. It is often said "the devil is in the detail". But I believe that God is in the proper execution of many so-called details. It is these so-called details which, when done well, add up to a big picture.
You may be interested to know that • India's highest ever urea fertiliser production was achieved in 2015.
• India's highest ever production of ethanol as blended fuel, benefiting sugar cane farmers, was in 2015.
• The highest number of new cooking gas connections to the rural poor was achieved in 2015.
• India's highest ever output of coal was achieved in 2015.
• India's highest ever generation of electricity was achieved in 2015
• India's highest ever quantity of cargo handled by major ports was in 2015.
• India's fastest average turnaround time in ports was in 2015. • India's highest ever increase in railway capital expenditure was achieved in 2015.
• India's highest ever number of new highway kilometres awarded was in 2015.
• India's highest ever production of motor vehicles was achieved in 2015
• India's highest ever software exports were achieved in 2015.
• India's highest ever rank in World Bank Doing Business indicators, was achieved in 2015.
• India's highest ever foreign exchange reserves were achieved in 2015.
When I give these figures, it is important to remember that in the preceding years, many of these indicators were moving in the opposite direction. Not only have many indicators improved, but they have improved by large margins. For example, in 2013-14, the total number of National Highway kilometres awarded was about 3500. This more than doubled in the first year of this Government to nearly 8000 kilometres, an all-time high. This year we are planning to award 10,000 kilometres.
Let me give you more examples of quantum leaps. The Shipping Corporation of India which made a loss of Rs. 275 crores in 2013-14 made a profit of Rs. 201 crores in 2014-15. This is a turnaround of Rs. 575 crores in one single year.
In 2013-14, India accounted for just 0.1% of global demand for energy efficient LED lighting. In 2015-16, it is 12%. Indian LED bulbs are now the cheapest and most competitive in the world, costing less than a dollar versus a global average of 3 dollars. In 2013-14, India commissioned 947 megawatts of solar power plants. In 2015-16, this will rise to over 2500 megawatts.
It is expected to reach 12,000 megawatts in 2016-17. India's share of the global solar energy market will rise from 2.5% in 2014 to 18% in 2016. India's contribution here is not merely in increasing the share of clean energy. Its other contribution is that the huge increase in scale has enabled producers to cut prices benefitting the whole world.
In 2013-14, 16,800 kilometres of transmission lines were added. In 2014-15 this rose to over 22,000, an increase of 32%. In the power sector as a whole, the cost of power has declined by over 30%.
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