India–United Arab Emirates relations US$100 billion in bilateral trade by the year 2020. On 16 August 2015, Prime Minister Narendra Modi began a two-day visit to the UAE, the first state visit by an Indian Prime Minister to the country in 34 years.Prime Minister of India Shri Narendra Modi visited the United Arab Emirates from 16–17 August 2015 at the invitation of His Highness Crown Prince Mohamed Bin Zayed AI Nahyan. In a break from protocol which would have seen only the UAE Foreign Minister, Sheikh Abdullah, receive dignitaries, Crown Prince Sheikh Mohammed Bin Zayed Al Nahyan, along with his five brothers, was also
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