The Narendra Modi government has completed two years in office this month. In May, 2014 it came to power following a massive victory in the Lok Sabha elections and today if we look back it is quite evident that its achievements in these two years really deserve praise. It inherited an ailing economy, which is today in a far better position. Ease of doing business has been improved and there is a continued effort to lay a steady foundation for economic reforms. Also, a proactive foreign policy, which has successfully raised India's profile in the world, as well as a multipronged approach for social and economic upliftment stand out among its crucial achievements.
When it comes to the health of the economy, by most major indicators – including GDP growth, foreign direct investment, fiscal deficit, industrial production growth, foreign exchange reserves, consumer inflation, rupee's move against the USD, etc.– it is doing much better than it did under the last government. It should also be noted that a number of steps &ndash including a new bankruptcy code, cut in corporate tax rate and clearing of the retrospective tax mess &ndash are industry friendly. On the flip side, the Centre is still struggling to revive exports and manufacturing, push infrastructure spending and handle the bank NPA challenge, but I think it is unfair to expect overnight solutions to all problems.
The government also needs to be commended for its efforts in pushing the social sector. In this area, I think the most notable achievements include the success of the Jan-Dhan Yojana in driving financial inclusion. In addition, the Centre's emphasis on rapid expansion and deployment of the Aadhaar biometric identification program, which has resulted in decreased wasteful expenditure in the delivery of social scheme benefits, is another successful feat. Similarly, schemes like Pradhan Mantri Ujjwala Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Scheme, Krishi Sinchai Yojana, Housing for All, Jan Aushadhi Scheme, and Swachh Bharat Mission also deserve mention. Also, efforts to speed up electrification and road construction in rural areas are encouraging.
Curbing of corruption is another striking success of the Modi government. Today, I think even the biggest critic of the government will agree that corruption at the top level has declined dramatically during the last two years. While the UPA government was tainted by several high-profile corruption charges, often leading to widespread public outrages, the current government has, till now, provided a corruption-free governance. In addition, the Modi government's fight against black money is also commendable and the recent India-Mauritius pact shows its commitment to the cause.
I invite your opinions.
|
