Tuesday, September 28, 2021
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Modi has taken Indian economy on back foot

When the BJP government was attacked by its own leaders, Prime Minister Narendra Modi came in defense stating that the criticizers are spreading anguish but the economy is on track. Criticism sometimes appears disruptive but they are not. Modi said that the government was committed to reversing the setback to growth in the April-June quarter and the structural reforms undertaken during the last three years, including demonetisation, Goods and Services Tax, and the Insolvency and Bankruptcy Code, would help the country step up into the next league. But in reality, demonetisation was a disaster. We lost maybe $100 billion in terms of GDP in the $230 billion gamble. Perhaps, he is unaware that reserves do not belong to the government – it is borrowed money. People give dollars to RBI and accept rupee. Whenever they give back the rupee you have to return dollars. Evidently, the Indian economy is not at a place where it needs to be. Despite PM’s heroic show to support his economic policies at the Institute of Company Secretaries of India, the Modi government finds itself in a fix that they’re unable to fight its way out of. The government is just not being able to attract or make the investments needed to revive the economy.

Exaggerated theatrics and gimmicks can never become a substitute for hard facts. All economic indicators are stuttering and stumbling. GDP as measured by the old methodology would be a dismal less than 4 per cent. Perturbingly, this doesn’t reflect the pain in the informal sector which has been the worst hit by frequent disruptions. Moreover, it is not just one quarter as Modi is claiming but a succession of five quarters slowdown which means that demonetisation and GST have aggravated an already upsetting situation. The promise of two crore jobs per year has gone with the wind like most other promises and charming coining of phrases like “Digital India” , “Startup India” to recent “Modi fest” (where dogs were sleeping in the stalls) have only been verbal legitimacy. Ignorance of ruling class and blindness of Bhakts have reached all-time high. For this government, questioning their failures belongs to jobless and pessimist categories.

It’s you and your party that came with an election manifesto promising about taking economy to the next stage. So, don’t have a feel that only Prime Minister has the right to express his thoughts through “Mann Ki Baat”.

We Indians have rights to question our PM and his government when they deviate from what is promised to us. Modi should deliver what he had promised. Merely talking about past to find excuses for his failed assurances is not going to impress people much. How can I forgive the government which made more than a billion Indians suffer promising black money returning to India while re-introducing Rs 500 and Rs 2000 notes? All the reasons provided for demonetisation have vanished. No one is talking about it. If you have to re-introduce, why ban in the first place? How does black money and fake money with Rs 2000 go together?

We tolerated demonetisation by expecting that black money will be curbed and corruption will be brought under control. But government departments and babus are no different from their corrupt counterparts in UPA. People who don’t have to deal much with government employees might not be aware but small and mid-level businessmen are getting hurt big time. Demonetisation was an epic failure; PM Modi made so many foreign visits but India has failed to attract investments.

So promise to bring back the black money was an exaggeration?

Promise of reducing the price of fuel and other necessary commodities was an exaggeration?

What about depositing 15 lakh in all the accounts, exaggeration?

What about creating jobs, sending love letter to Pakistan etc. Exaggeration?

How long Modi government will keep on giving jumlas to public, the time has come and they need to perform. Yashwant Sinha has rightly pointed out the present economic condition of the country. It is the duty of a responsible citizen of this country to speak out the truth, so that Government can take effective steps to correct. But this particular government is not open for suggestions; they are hiding their flaws and indulging in blame game. Tall promises like removing corruption in day to day dealing with government connected to common man, bringing black money from foreign banks, sudden demonetisation and conveying wrong glorified effects of it are nothing but fooling voters.

BJP talked about scrapping Aadhar Card, now capitalising for its benefits. The party had opposed GST during UPA rule. Also, BJP did not cooperate with UPA to pass RERA Bill. RERA has been passed but BJP ruled states have diluted it by framing their own rules.

Modi government came to power and the common man had high expectations from them. The change expected was like undoing a lot of things and doing something extra ordinary to change the situation of 2014 India. People were in huge distress and lost hopes with erstwhile government. Previous government had huge opportunities and talent but in given party situation, they proved to be ineffective. People were looking for somebody, who could take that challenge and make a difference. Then came Modi, with a wave and over hyped  ‘charisma’, with power of speech, with power of visible will and vision, with strength to work hard, having belief in India and its citizens, having pride being Indian, pride in our history and culture, with clarity of thoughts but whatever being told just remained in speeches. It was enough to attract and provide him a vast majority. Now when people are introduced to reality, the government and its voters all are at unrest. Let’s see, what drastic changes will take place by 2019.

 (Any suggestions, comments or dispute with regards to this article send us on [email protected])

Dr Vaidehi Tamanhttp://www.vaidehisachin.com
Dr Vaidehi an Accredited Journalist from Maharashtra is bestowed with Honourary Doctorate in Journalism, Investigative Journalist, Editor, Ethical Hacker, Philanthropist, and Author. She is Editor-in-Chief of Newsmakers Broadcasting and Communications Pvt. Ltd. for 11 years, which features an English daily tabloid – Afternoon Voice, a Marathi web portal – Mumbai Manoos, monthly magazines like Hackers5, Beyond The News (international) and Maritime Bridges. She is also an EC Council Certified Ethical Hacker, Certified Security Analyst and is also a Licensed Penetration Tester which caters to her freelance jobs.

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