Foreign policy of the Narendra Modi government the fastest growing economy plays an important role in the group since it began in 2008. For the first time in 2014 India was represented by Prime Minister Modi unlike all the previous summits when Dr. Manmohan Singh, a renowned economist, used to be the Prime Minister. The host and President of 2014 summit Australia's Tony Abbott intended the summit to focus exclusively on revamping the crisis prone fragile economy and to add US$2 trillion in the global economy by additional 2% global GDP growth rate for the next five years but countries like US was more keen to discuss
Premiership of Narendra Modi budget was moved from 28 February to 1 February and financial cycle was changed from July to April. Further, the artificial distinction between planned and non-planned expenditure was removed. Foreign Investment Promotion Board (FIPB), considered as a hurdle in FDI, was scrapped by Modi government. Modi government put in place the Goods and Services Tax, the biggest tax reform in the country since independence. It subsumed around 17 different taxes and became effective from 1 July 2017. Modi launched Pradhan Mantri Jan Dhan Yojana (PMJDY) in August 2014. The initiative aimed to create bank accounts and debit cards for 150