Four years of Modi government: In the biggest election of India’s history, Narendra Modi, the three-term chief minister of Gujarat stormed to power with a thumping majority for his vision for a developed India. In his first major address to the nation from the ramparts of the Red Fort on August 15, 2014, Narendra Modi announced his flagship Jan-Dhan Yojana, which to date is one of the jewels in his crown.
Others are the successful implementation of the Goods and Services Tax (GST) and the introduction of Insolvency and Bankruptcy Code (IBC). With India expected to emerge as the fastest-growing major economy again this financial year, especially after slumping to as low as 5.7% due to disruptions from structural changes, this could be a big shot in the arm of Narendra Modi ahead of the 2019 polls. From Ujjwala Yojana to Saubhagya Yojana — Narendra Modi gets full marks for his efforts, even as some targets are expected to be missed.
Here are the hits and misses of Narendra Modi-led NDA government in last four years:
As Modi completes 4 years, India Inc’s thumbs up to economy; CII says GST cyclone over, reforms on track : As the BJP-led NDA government completes four years in office, industry chamber CII today said India’s economy is robust with GST system having settled down and reforms firmly on the right path. In a statement, CII Director General Chandrajit Banerjee said over the last four years, the government has systematically addressed major pain points for the economy such as ease of doing business, non-performing assets of banks, foreign direct investment rules, infrastructure construction and exit of failing enterprises.
Achche din may be several years away, but PM must get full marks for trying : Achche din may be several years away, but the NDA government under Prime Minister Narendra Modi must get full marks for trying. Four years into the government’s regime, the economy is not exactly rocking. GDP has clocked in at an average of 7.3% annually between FY15 and FY18, below the 7.5% notched up in the five years prior to that. Manufacturing is muddling along, but exports are in a shambles leaving private sector investment stagnant, and few jobs on offer. The damage from demonetisation and GST is slowly coming undone, but business sentiment remains subdued.
Sensex leaps 10,000 points! 4 winning feats that steered stock market to record highs: In the span of last four years, Indian stock markets have fared considerably well as compared to regional Asian peers and Wall Street — the world’s largest equity markets by turnover. The benchmark equity index BSE Sensex has added about 10,000 points in the last four years breaching the key levels of 30,000 for the first time under Narendra Modi-led NDA government. The S&P BSE Sensex has gained as much as 9,970 points to 34,663 from a level of 24,693 as on 23 May 2018, before swearing-in ceremony of Narendra Modi as PM.
Has India created enough jobs? Debate on, but this next challenge will be bigger : While formal jobs have indeed been created, muted household income and savings macro data suggest muted quality of jobs in aggregate. “Job quality is the real issue for Indian macro and markets, manifested in the slowing growth of the middle class,” Gautam Chhaochharia, Analyst and Sanjena Dadawala, Analysts at UBS said in the report.
4 small reforms by Modi that went unnoticed : In 2016, the Lok Sabha repealed 1,175 of 1,827 laws that were identified as obsolete, and many other steps were taken to make lives of common people easier. From self-attestation to doing away with birth certificate for passport to Tatkal reforms to easing I-T filing, these reforms went unnoticed in the four years of Modi-led NDA government.
These 5 ministries get stellar score from people, and Finance is not among them : The top five ministries of the Modi government are Defence, External Affairs, New and Renewable Energy, Coal, and Road, Transport and Highways, a survey conducted by LocalCircles showed. Indians have given a stellar score to the Defence Ministry — 4.9 on the scale of 5. The government has been applauded for “taking some bold steps like the surgical strikes against Pakistan,” LocalCircles said.
Even after 4 years, Modi is winning hearts; Survey shows 57% Indians happy with his work : A total of 57% Indians say that the Narendra Modi government has “either met or exceeded” their expectations in the last four years, a survey said. A majority of Indians are particularly happy with Narendra Modi’s effort in improving India’s image globally, handling of Pakistan, fighting terrorism, infrastructure development and reducing tax harassment, a survey report by LocalCircles said.
Four ambitious targets NDA is poised to miss: After taking over the Prime Minister’s Office in 2014, Narendra Modi shared his vision to make India an investor-friendly destination, which would subsequently lead to job creation and development. However, despite ambitious plans like Make in India, Narendra Modi, four years later, is poised to miss some targets.
Amit Shah says PM Modi works for 15-18 hours every day : BJP provided the most hardworking Prime Minister & the most popular leader in the world to the country, a PM who works for 15-18 hours a day. We are proud that this Prime Minister is a leader of BJP, says Amit Shah.
4 developments that shocked the nation : From vowing to build toilets in every school to announcing demonetisation to Moody’s surprise rating upgrade to massive fraud at Punjab National Bank (PNB) allegedly by diamond czar Nirav Modi, the nation has been shocked in a good and a bad way in last four years.
Arun Jaitley gives 4-year report card : Good governance and good economics have been blended with good politics and have transformed India from being ‘fragile five’ to ‘bright spot’, Finance Minister Arun Jaitley said, giving the report card of NDA government’s four years in power. Taking a jibe at Rahul Gandhi, he said, “The Congress President must remember that taxes don’t go into the pocket of the government.”
Rahul Gandhi releases report card, gives NDA ‘F’ in 4 categories : Congress president Rahul Gandhi gave an ‘F’ with a remark terming Narendra Modi as “Master communicator who struggles with complex issues and has a short attention span.” The Congress president graded NDA government ‘F’ in four categories – agriculture, foreign policy, fuel prices and job creation. He gave ‘A+’ grade in the category of slogan creation and self-promotion. The Congress president also graded Narendra Modi as ‘B-‘ in the category of Yoga.