From 2014 to 2019, Odyssey of Modi Govt
The National Democratic Alliance led by Prime Minister Narendra Modi has almost completed five years of its regime. In these last five years, various radical decisions were taken by the government to bring India on the path of development. Recently while addressing ET GBS PM Modi said, “After 2014, hesitations have been replaced by hope. Obstacles have been replaced by optimism. And Issues have been replaced by initiatives. Since 2014, India has made significant improvements in almost all international rankings and indices. Things change on the ground first but reflect in rankings after a time lag. Take the example of Ease of Doing Business rankings. Our rankings have improved from 142 to a historic high of 77 in four years. But the change in rankings has been preceded by an improvement in the situation on the ground. Now construction permits for starting a new business come faster, and so do electricity connections and other approvals. Even for the small traders, compliance is getting easier.”
It’s a fact that this government has taken a range of decisions like GST, MSP, 10 per cent reservation to economic weaker section (EWS), annual financial support for farmers, Make in India etc. To take a glimpse on five years of Modi regime, one will have to inspect every sector and the works done by the government.
When Prime Minister Narendra Modi came to power, India’s GDP growth was almost 4.7 per cent. But in 2019, despite decisions like GST and demonetisation, the current GDP growth is 6.7 per cent and estimated to be 7.2 per cent in 2018-19.
Inflation is very essential for a country and the common man. Inflation is an increase in the price of goods in an economy over a period of time. In 2013, Overall Inflation was 9.13 per cent. But in 2018, it is 4.7 per cent. And this is the reason why the price of essential commodities have not increased, especially food.
According to the India Brand equity foundation report published in January 2019, exports from India have increased 15.48 per cent to US$ 351.99 billion in April-November 2018. Mergers and Acquisitions (M&A) activity in the country has reached US$ 82.1 billion in 2018 (up to November). Income tax collection in the country which is the main pillar of growth has reached Rs 2.50 lakh crore (US$ 35.88 billion) between April-November 2018. In these last five years, India has been the most positive destination for foreign investors. India’s Foreign Direct Investment (FDI) has reached to US$ 389.60 billion between April 2000 and June 2018, with maximum contribution from services, computer software and hardware, telecommunications, construction, trading and automobiles. Consumer Price Index (CPI) inflation rose moderated to 2.33 per cent in November 2018 from 3.38 per cent in October 2018. India has improved its ranking in the World Bank’s Doing Business Report by 23 spots over its 2017 ranking and is ranked 77 among 190 countries in 2019 edition of the report. India is expected to have 100,000 startups by 2025, which will create employment for 3.25 million people and US$ 500 billion in value. The World Bank has stated that private investments in India are expected to grow by 8.8 per cent in FY 2018-19 to overtake private consumption growth of 7.4 per cent, and thereby drive the growth in India’s gross domestic product (GDP) in FY 2018- 19. India is expected to retain its position as the world’s leading recipient of remittances in 2018, with total remittances touching US$ 80 billion, according to the World Bank’s Migration and Development Brief.
Agriculture is still a backbone of the rural economy. In the last five years, the NDA government has endeavoured to bring innovative ideas like soil health card, Neem coated urea and rainwater harvesting etc. However, it is also a truth that Farmers’ problem has not been fully solved. Recently, in interim budget to provide assured income support to the small and marginal farmers, Modi Government launched the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN). Under this programme, vulnerable landholding farmer families, having cultivable land up to 2 hectares, will be provided direct income support at the rate of Rs. 6,000 per year. This income support will be transferred directly into the bank accounts of beneficiary farmers, in three equal instalments of Rs. 2,000 each. This programme will be funded by the Government of India. Around 12 crore small and marginal farmer families are expected to benefit from this. It will entail an annual expenditure of Rs. 75,000 crore.
India has fought five wars, four with Pakistan and one with China in 1961. Therefore it is also in two front war situations. And in recent days, when India is targeting terrorists in Pakistan, it becomes very important to modernise our armed forces. Indin forces were desperate to have various defence deals for many years. But it remained pending due to poor decision making. But when this government came to power in 2014, since then this government has almost signed 200 defence deal like S-400 Missile system, Dassault Rafale, Chinook helicopter deal, Bulletproof jacket, new rifles, radar, missile etc. when it comes to internal security, this govt has also been succeeded to bring down insurgent groups in North-East. The overall security situation in the North Eastern states substantially improved. The security situation in Assam has remained largely peaceful and under control. National Democratic Front of Bodoland (Saraigaora) has been marginalised leading to demoralisation and disenchantment amongst its cadres. Insurgent groups are facing acute financial crunch and have resorted to extortion and sporadic acts of violence to maintain their relevance. The security situation in Nagaland has also improved considerably since 2015. National Socialist Council of Nagaland (Khaplang) has been marginalized due to focused counter-insurgency operations by Security Forces and presently its activities are confined to Eastern Nagaland and Myanmar Naga Hills. Concerted and relentless operations by Security Forces along India – Myanmar border (IMB) has severely. Similarly, Naxal incidents have also come down.
Infrastructure development has been among the best priority of this government. The national highway network has genuinely improved. At the time, when NDA government came to power in 2014, there were 92,000 kms of national highways in the country, which has gone up to 1.15 lakh kms as on date. This government has fixed a target of constructing 2 lakh kms of national highways, which will be completed by the year 2022. Due to which at present, the construction of national highways is on an average 24 kms per day. This government is also working on Sagarmala Pariyojana, which will connect the different Ports of the country with Railways and national highways.
By Ravi Mishra