Everything Wrong With Modi Government’s White Paper on India's Economy (Part 1)
11 months ago

Everything Wrong With Modi Government’s White Paper on India's Economy (Part 1)

The Quint  

Yes, the UPA-II years may have been fraught with macroeconomic instabilities witnessing a higher inflation rate, episodes of policy paralysis and economic uncertainty, but those happenings didn't cause a structural rupture in the social and economic mobility and growth process of India's focal point: the aspirational class. Also, what caused a massive economic shock in India was the 2016 demonetisation which was a direct shot into the tyres of a racing Indian economic vehicle. On the other hand, the White Paper also claims that the incumbent government has strengthened the health of the economy and the business sector. Four key issues still stand where, under the Modi Government’s decadal term, we see India entering a cycle of ‘jobless’ growth, declining private investment for capital formation, real wages stagnation, poor employment creation, and a social welfare fiscal de-prioritisation.

India White Paper  social  paper  didnt  economic  rate  growth  modi  vehicle  india  white  term  wrong  economy  governments  indias

History of this topic

​Growth chill: On the economy
2 days, 18 hours ago

​Growth chill: On the economy

The Hindu  

The National Statistics Office has confirmed emerging fears about the economy’s evidently sluggish trajectory through this year in its first Gross Domestic Product estimates for 2024-25. While the election-focused first quarter hit public capital spending, the second quarter was marred by weak demand and still underwhelming public capex, dragging GDP growth to a seven-quarter low of 5.4%. The NSO’s projection …

Congress criticises PM with 'voodoo economics' jibe over slowing GDP growth
1 month, 1 week ago

Congress criticises PM with 'voodoo economics' jibe over slowing GDP growth

India Today  

Congress on Tuesday took a dig at the central government over the GDP growth slowing to a near two-year low and said that Prime Minister Narendra Modi's "voodoo economic policies" put India in the middle of a vicious economic cycle of low growth, no jobs, low income and high prices. "Thanks to Narendra Modi and his voodoo economic policies, India …

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling
7 months ago

India’s Modi urged to set ‘ambitious’ economic agenda after poll humbling

Al Jazeera  

Indian Prime Minister Narendra Modi and his Bharatiya Janata Party campaigned on India’s sizeable economic expansion in the lead-up to the country’s recent national elections. Despite strong headline economic growth, nearly half of India’s population is still employed in the relatively unproductive agricultural sector – a share that rose during Modi’s second term, from 42.5 percent in 2018-19 to 45.8 …

India’s economic boom won’t be derailed by its election shock
7 months ago

India’s economic boom won’t be derailed by its election shock

CNN  

New Delhi CNN — Narendra Modi has declared victory in India’s election but he’ll need the support of smaller parties to govern, a shock result that could make it harder for him to pass major economic reforms. India boomed during Modi’s first two terms as prime minister, leapfrogging the United Kingdom to become the world’s fifth biggest economy and growing …

Modi touts India’s roaring economy as he seeks reelection, but many feel left behind
7 months, 1 week ago

Modi touts India’s roaring economy as he seeks reelection, but many feel left behind

Associated Press  

SAMASTIPUR, India — Narendra Modi swept to power a decade ago on promises to transform India’s economy, and it would be hard to argue he hasn’t made strides. While campaigning this spring — the six-week-long election concludes Saturday — Modi has vowed to make India’s economy the world’s third-largest, trailing only those of the U.S. and China. Even as India’s …

India’s State Sector Is Thriving. That’s a Problem
7 months, 2 weeks ago

India’s State Sector Is Thriving. That’s a Problem

Live Mint  

-- Ten years ago, when Narendra Modi — then chief minister of business-friendly Gujarat state — rode an electoral wave to the prime ministership in New Delhi, many expected that he would be far more supportive of the private sector than previous Indian leaders. The minister in charge of India’s state petroleum companies, for example, says that the Modi administration …

What the Centre’s White Paper on Indian Economy says, and doesn’t say | In Focus podcast
10 months, 4 weeks ago

What the Centre’s White Paper on Indian Economy says, and doesn’t say | In Focus podcast

The Hindu  

The Union Finance Ministry has come out with a ‘White Paper’ on the changes in the Indian economy in the past 20 years. It claims that the NDA government in 2014 inherited a “deeply damaged economy” marked by “governance, economic and fiscal crises”. It further claims that the in the past 10 years, the NDA government has “turned around” the …

View: Modi’s ‘White Paper' shows a mirror to UPA’s misgovernance and corruption
11 months ago

View: Modi’s ‘White Paper' shows a mirror to UPA’s misgovernance and corruption

Hindustan Times  

New Delhi: The ‘White Paper on the Indian Economy’ tabled by the Narendra Modi government in Parliament on Thursday shows a mirror to economist turned Prime Minister Manmohan Singh for the fiscal mismanagement and corruption done during his 10-year UPA regime. PM Narendra Modi with former PM Manmohan Singh By comparing about 10 years of the Modi government with the …

Amrit Kaal, Kartavya Kaal: Centre's white paper on economy in 10 points
11 months ago

Amrit Kaal, Kartavya Kaal: Centre's white paper on economy in 10 points

Hindustan Times  

The government on Thursday came up with a white paper on the Indian economy in which it presented how the economy improved from 2014 to 2024 in comparison with the time period between 2004 and 2014 when, the white paper claimed, the UPA hurt the economy, robbed the economy. Despite inheriting a healthy economy, the UPA turned it into a …

UPA inherited healthy economy, left it in crisis: Government's white paper
11 months ago

UPA inherited healthy economy, left it in crisis: Government's white paper

India Today  

Finance Minister Nirmala Sitharaman tabled the government's 'White Paper on India Economy' in Parliament on Thursday, aimed at comparing the performance of the Indian economy under the previous UPA government and the current BJP-led NDA government. 'Inheritance of loss' Describing the state of the economy when the current government took over in 2014 as an 'inheritance of loss', the government …

Government choices and policies have taken India's economy to new height: PM Modi
1 year, 1 month ago

Government choices and policies have taken India's economy to new height: PM Modi

Firstpost  

Modi said that their biggest priority should be people’s ease of living, and took a swipe at past governments saying they ignored the equality envisaged by B R Ambedkar, the key figure behind the Constitution, among all citizens Prime Minister Narendra Modi on Thursday said his government’s policies and decisions have taken the economy to a new height, creating immense …

India needs a new economic policy
1 year, 4 months ago

India needs a new economic policy

The Hindu  

The National Statistical Office has released the 2022-23 GDP fourth-quarter growth rate figures. According to NSO data, in the first COVID-19 pandemic quarter of 2020-21, i.e., April 1 to June 30, 2020, GDP growth rate was minus 23.8% when compared to GDP of the same period in 2019-20. Second, it is essential to recognise that since 2014, Prime Minister Narendra …

'Indian economy's growth rate underscores its resilience amid global challenges,' says PM Modi
1 year, 7 months ago

'Indian economy's growth rate underscores its resilience amid global challenges,' says PM Modi

India TV News  

Prime Minister Narendra Modi on Wednesday taking to Twitter asserted that the Indian economy's annual growth rate of 7.2 percent underscores its resilience amidst global challenges. National Statistical Office recently released data mentioning that India's economy grew 6.1 percent in the fourth quarter of 2022-23. "The 2022-23 GDP growth figures underscore the resilience of the Indian economy amidst global challenges," …

The Economist praises Modi govt for revitalising Indian banking sector
1 year, 7 months ago

The Economist praises Modi govt for revitalising Indian banking sector

Op India  

On Thursday, the British weekly newspaper The Economist praised the Modi government for reviving the banking sector in India and turning around its profitability. In a development few, if any, predicted, Indian banks are among the world’s most profitable.” The Economist noted that the bankruptcy reforms introduced by the Narendra Modi government in 2016 helped in the rapid liquidation of …

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly
1 year, 10 months ago

India's GDP Growth: Economists Must Not Go by Face Value & Assess Data Robustly

The Quint  

As argued before, while reviewing the macro-elements and components of growth in any statistical interpretation exercise, it’s difficult to get the full picture one needs. For example, keeping aside the base effect, the fact that private consumption demand is still woefully low, indicates how much of the low-middle income and middle-income class in India is ‘consuming less’ and their demand …

India has done well last year but lags many other nations, says former Chief Economic Adviser Kaushik Basu
1 year, 11 months ago

India has done well last year but lags many other nations, says former Chief Economic Adviser Kaushik Basu

The Hindu  

The erosion of India’s institutions is a worry and India’s leaders should tackle this problem on an urgent basis, said Kaushik Basu, a professor of economics at Cornell University. In an interview with The Hindu in the lead-up to Union Budget, the former chief economic advisor to the Government of India, talked about the state of the Indian economy, the …

Explained | Is the economy driving with the brakes on?
2 years ago

Explained | Is the economy driving with the brakes on?

The Hindu  

The story so far: At this time last December, India’s economy was on the cusp of a fledgling recovery from the COVID-19 pandemic, though the Omicron variant posed fresh speed bumps for the rebound. As JP Morgan managing director and India chief economist Sajjid Chinoy explained at a CII economic policy summit last week, 2022 was expected to see a …

5 charts show why the world is cheering India's economy
2 years, 1 month ago

5 charts show why the world is cheering India's economy

Live Mint  

NEW DELHI : On more than one occasion in recent months, India has been hailed for holding its head high amid a looming global economic slowdown. India will spend ₹3,500 crore on toys to outplay China Why housing real estate remains a losing proposition This manager's small-cap fund gave 40% CAGR returns in 3 yrs View Full Image Mint The …

Historic fall in GDP, rampant job loss because PM Modi is helping only his friends: Rahul Gandhi
4 years, 4 months ago

Historic fall in GDP, rampant job loss because PM Modi is helping only his friends: Rahul Gandhi

India Today  

India has suffered a historic fall in the GDP and crores of jobs have been lost in the past few months because the Narendra Modi government is helping only a few friends of the Prime Minister, alleged Congress leader Rahul Gandhi on Thursday. In a video message posted on his Twitter handle, Rahul Gandhi appealed to the people to make …

India’s growth story has never seemed so endangered
4 years, 4 months ago

India’s growth story has never seemed so endangered

Live Mint  

We all knew it would be bad, but no one could have predicted just how bad. Supply and credit links, which had been largely cash-based in the informal sector, among others, remained broken even after high-denomination currency came back into circulation, and some small businesses and poorer households—we will likely never know how many—never recovered to their level of well-being …

India reeling under 'Modi-made disasters': Rahul Gandhi attacks PM over state of economy, rising COVID-19 cases
4 years, 4 months ago

India reeling under 'Modi-made disasters': Rahul Gandhi attacks PM over state of economy, rising COVID-19 cases

Firstpost  

The Congress leader’s remarks comes after official data showed on Monday that the country’s economy suffered its worst slump on record in April-June, with the GDP contracting by 23.9% New Delhi: Congress leader Rahul Gandhi on Wednesday hit out at Prime Minister Narendra Modi over the state of the economy, rise in COVID-19 cases, and “external aggression” at borders, alleging …

Opinion | Fiscal spending will have to do the heavy lifting
4 years, 4 months ago

Opinion | Fiscal spending will have to do the heavy lifting

Live Mint  

India’s June-quarter data reaffirmed the stark weakness in economic activities. Such a dent is leading to major headwinds for private final consumption expenditure, which, with about two-thirds share in overall GDP and usually strong growth momentum, typically provides a strong bedrock for India’s growth. While monetary policy reacted with commendable alacrity with large rate cuts and a heavy dose of …

India’s GDP Slump: A Long and Painful Road to Recovery Ahead
4 years, 4 months ago

India’s GDP Slump: A Long and Painful Road to Recovery Ahead

The Quint  

Act of god or not, even though India was expected to see a considerable economic slowdown, the contraction of the GDP by 24 percent in the first quarter of the current financial year is coming off as quite a shocker. All thanks to this, India, once the world's fastest-growing major economy, now seems to be headed for its first full-year …

Opinion | The government’s tight fist has given our economy a body blow
4 years, 6 months ago

Opinion | The government’s tight fist has given our economy a body blow

Live Mint  

More bad news about the economy surfaced last month. However, during the last three years of the United Progressive Alliance 2 regime, 2011-12 to 2013-14, GDP growth slowed down to 5.5% per annum, as the government did little except hope and pray for inflation to slow down and growth to revive. The first three years of the Narendra Modi government, …

Modi’s plan for economic revival is a game-changer
4 years, 7 months ago

Modi’s plan for economic revival is a game-changer

Hindustan Times  

The first anniversary of the National Democratic Alliance government, popularly referred to as Modi-2, may have been somewhat subdued due to the lockdown as a result of the coronavirus disease. At the outset, he referred to the ₹20 lakh crore economic package that he dedicated to the nation on May 12 and stressed his desire to make India self-reliant. Imagine …

Narendra Modi govt thrives on popularity in polls, but grim reality on roti-kapda-makaan provides stark contrast
4 years, 11 months ago

Narendra Modi govt thrives on popularity in polls, but grim reality on roti-kapda-makaan provides stark contrast

Firstpost  

Poll on poll indicates that the Narendra Modi government still remains the most popular government of the day, yet poised to win a Lok Sabha election if it may come. A staggering huge number—about 62 percent of them, said that they would simply save the money rather than spend it. What should still add another level of discomfort for the …

Reality check: on govt projecting slower GDP growth
5 years ago

Reality check: on govt projecting slower GDP growth

The Hindu  

The government’s advance estimates for economic output and growth for the fiscal year ending in March may raise eyebrows, but only for the wrong reasons. The National Statistical Office has estimated that Gross Domestic Product will expand by 5% in the 12-month period, in line with the Reserve Bank of India’s sharp downward revision last month in its full-year growth …

Growth recession: Can Modi govt ensure India rides out the storm?
5 years, 1 month ago

Growth recession: Can Modi govt ensure India rides out the storm?

India Today  

Union Finance Minister Nirmala Sitharaman has insisted that things are not as bad as they are being presented on economic front. This means at 4.5 per cent for July-September quarter might not be the lowest GDP growth rate for the current fiscal year. The economy has been slowing down for six consecutive quarters despite the Narendra Modi government announcing a …

India braces for shock GDP as Modi scrambles to spur economy
5 years, 1 month ago

India braces for shock GDP as Modi scrambles to spur economy

Live Mint  

New Delhi: Explore what’s moving the global economy in the new season of the Stephanomics podcast. “Domestic demand is displaying chronic weakness, with an apparent credit crunch afflicting wide swaths of the economy,” said Taimur Baig, chief economist at DBS Group Holdings Ltd. in Singapore. “Production and sales are under pressure, and public spending is running out of room due …

J&K smokescreen won’t hide economic spasms
5 years, 2 months ago

J&K smokescreen won’t hide economic spasms

Deccan Chronicle  

For a change, no one in Prime Minister Narendra Modi’s government or in the ruling Bharatiya Janata Party is talking about making India a $5 trillion economy by 2024 any longer. The declaration by the newly-chosen managing director of the International Monetary Fund, Kristalina Georgieva, that 90 per cent of the world economy will have its worst growth rate since …

State of Indian economy: Decoding the 5% problem
5 years, 4 months ago

State of Indian economy: Decoding the 5% problem

Hindustan Times  

On Friday, the Central Statistics Office released India’s GDP figures for the quarter ending June 2019. The measures announced in the conference held on 23 August can be classified into three broad categories and also listed in order of importance: boosting business sentiment in the economy, removing supply-side hurdles to the flow of credit and working capital, and boosting demand …

India GDP growth plunges to 5%
5 years, 4 months ago

India GDP growth plunges to 5%

CNN  

New Delhi CNN Business — India’s economic slump risks becoming a crisis, with growth plunging to levels not seen since Prime Minister Narendra Modi was elected in 2014 on a promise to turn the country into a global powerhouse. It’s also the weakest growth rate recorded under Modi, who first swept to power five years ago promising to take India’s …

Revival of demand, investment top priority: RBI annual report
5 years, 4 months ago

Revival of demand, investment top priority: RBI annual report

Live Mint  

Mumbai: Reviving consumption demand and private investment remains the top priority in the current fiscal, the Reserve Bank of India said on Thursday, signalling the possibility of at least one more interest rate cut this year. The recent deceleration could be in the nature of a soft patch mutating into a cyclical downswing, rather than a deep structural slowdown, RBI …

Tracking India’s economic slowdown: Why Narendra Modi govt shouldn’t delay fiscal stimulus to revive struggling industries
5 years, 5 months ago

Tracking India’s economic slowdown: Why Narendra Modi govt shouldn’t delay fiscal stimulus to revive struggling industries

Firstpost  

Industry captains are marching to the North Block making their case for an urgent fiscal stimulus. The industry, battered with the economic slowdown, thinks there is an urgent case for a stimulus package nothing less than Rs 1 lakh crore. Growth in eight core industries—coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity —that constitutes 40 percent …

From policy paralysis to economic paralysis? Modi govt is decisive but…
5 years, 5 months ago

From policy paralysis to economic paralysis? Modi govt is decisive but…

India Today  

Policy paralysis was the often-used catchphrase to describe governance of the Manmohan Singh government in its latter half. Economists such as former Reserve Bank of India Governor Raghuram Rajan argue that the actual rate of gross domestic product is in the range of 3.5-5.5 per cent. Its GDP growth rate for January-March was 5.8 per cent - at a five-year …

India GDP growth: economy slumps again as Modi begins second term
5 years, 7 months ago

India GDP growth: economy slumps again as Modi begins second term

CNN  

New Delhi CNN Business — Narendra Modi just won a second term as prime minister of India. Modi, who first swept to power in 2014 on promises to revive India’s economy and boost growth, won re-election by an even bigger margin in the latest vote which concluded on May 23. Another set of figures released on Friday revealed that India’s …

India’s economy is slowing, ramping up pressure on Modi
5 years, 7 months ago

India’s economy is slowing, ramping up pressure on Modi

Al Jazeera  

Slowing economic growth and high employment underscore challenges faced by Modi as he starts his second term. Government figures released Friday showed India‘s economy grew at a much-lower-than-expected 5.8 percent in the first three months of the year. The economic slowdown and high unemployment put pressure on Modi’s re-elected government and the central bank to stimulate the economy to boost …

A $1.4 trillion India spending push tops Modi 2.0 agenda
5 years, 7 months ago

A $1.4 trillion India spending push tops Modi 2.0 agenda

Live Mint  

India’s economy is set for a major boost if Prime Minister Narendra Modi follows through with key campaign promises following his party’s sweeping election victory. “Given that there is limited fiscal space it is hard to see them meeting those targets,” said Shilan Shah, senior India economist at Capital Economics Ltd. in Singapore. “But even if they are partially fulfilled, …

A $1.4 trillion India spending push tops Modi 2.0 agenda
5 years, 7 months ago

A $1.4 trillion India spending push tops Modi 2.0 agenda

Al Jazeera  

Finding the money to pay for the populist pledges will be Modi’s immediate challenge. – India’s economy is set for a major boost if Prime Minister Narendra Modi follows through with key campaign promises following his party’s sweeping election victory. “But even if they are partially fulfilled, it should provide some boost to growth.“ The BJP’s manifesto targets 100 trillion …

PM Modi's big win signals strong Indian GDP growth will continue
5 years, 7 months ago

PM Modi's big win signals strong Indian GDP growth will continue

India TV News  

Steller performance of Prime Minister Narendra Modi's BJP with another large parliamentary majority will see continuity of macroeconomic policy in the next five years but the key economic challenge now is to continue reforms, brokerages and economists said on Thursday. "Despite significant achievements in infrastructure development during PM Modi's first term, rapid infrastructure development in key sectors such as transport …

Opinion | The big opportunity that Modi missed to reform the economy
5 years, 7 months ago

Opinion | The big opportunity that Modi missed to reform the economy

Live Mint  

It appears to be that season: When those of us in the commentary class, who opined on the just-elected government of Prime Minister Narendra Modi in the summer and autumn of 2014, dust off what we wrote and compare it with what actually transpired in the last five years. Noting the similarities in their ascent to power—firebrand conservative outsiders who …

Modi’s mixed record on India’s economy
5 years, 9 months ago

Modi’s mixed record on India’s economy

CNN  

New Delhi CNN Business — Narendra Modi had lofty ambitions for India when he came to power in a landslide election win in 2014. As Modi seeks a second term, he’s setting the bar even higher — the election manifesto released by the BJP on Monday aspires to make India the world’s third largest economy by 2030. A massive overhaul …

Indian economy a worry for Modi govt in election year
6 years ago

Indian economy a worry for Modi govt in election year

Live Mint  

New Delhi: India’s $2.7 trillion economy is headed for a slowdown ahead of 2019 Lok Sabha elections due by May, with a federal statistics body projecting an overall economic growth of 7.2% for the year ending 31 March. What could drag down growth in the second half is the government’s inability to boost growth as fiscal deficit in the first …

Discover Related