Narendra Modi, the Prime Minister of India, came into power with promises of a new nation; raising hopes and dreams. But after 3 years it seems that all these hopes have come crashing down as even the most hopeful Narendra Modi followers seem to be taking a step back. Has Narendra Modi failed the nation?
Narendra Modi is in his 3rd year, of the 5-year term, and all one can see are words that have not yet been turned into action. In 2014, when Narendra Modi came to power, India showed a new spirit and the nation pegged hopes of reforms and reformations. In a recent visit to the US, the Indian PM stated with pride that his nation had become a nation of minimal government and maximised governance, with over 7000 reforms. However, figures in the 2017 World Bank’s report have placed India at a petty 130 of the 190 countries across the globe for the ease of doing business.
Narendra Modi – A Summary on Indian PM
With the kicking in of Demonetisation late in 2016 it became clear that Narendra Modi was a man of headstrong decisions rather than a well decisive leadership approach. The economy of India was completely rattled causing damage and disruption beyond its capacity. To make matters worse, the desired goals were hardly achieved!
The thought of bringing out black money from the vaults was great, but the process and the actions were not the most favourable. Corruption continues to grip the nation, along with its allies bribes and extortion. In fact, it has been reported that newer counterfeit currency is also circulating in India. In a nutshell, the Indian economy continues to remain cash-dominant.
Market Disruption and Economic Setbacks have been raised by Narendra Modi
As reported in Japan Times, the ripple effects of demonetisation have brought in increased disruptions in the market and a negative impact to the economy, with a decrease in the nation’s growth by 1.3%; with over 3% decrease in the last quarter of 2016-17.
In the following year, GST was introduced by Narendra Modi; this time it was not an overnight shocker but a well-deliberated action. According to economic analysts, this action too proved to be hazardous for the economy. Although GST is great as a practice, the extensive taxes at the state level have become major barriers to its success. If GST is implemented the way it is presented on paper, benefits for the entire nation can be sought, however, in practice, it is far from beneficial currently.
We have reached a stage where even the most ardent Narendra Modi supporters and optimistic flag bearers are losing hope. The upcoming 2019 elections will be a choice between Congress, a party that has openly fleeced the Indian public, or Narendra Modi led party that has failed to prove its competency.