Why Narendra Modi’s assurance, that he isn’t scared to be seen with industrialists, matters to economy
FirstpostIt is important that large businesses are taken into confidence and Narendra Modi has done just the right thing to speak in favour of businesses Prime Minister, Narendra Modi’s reassurance to the industry on Sunday, that he isn’t scared to be seen in public with industrialists, is a booster dose to the business community that is often seen in suspicion for the fault of a few wrongdoers. Industry’s image is tarnished, morale is low in the wake of recurring scams, bad loan hunt by banks and Congress-led opposition attacking the Modi administration for alleged crony capitalism. Perhaps, Modi has also effectively turned Congress president Rahul Gandhi’s primary charge against him—that the prime minister is favouring corporations—as a political opportunity to win the confidence of business community ahead of the 2019 Lok Sabha polls. It is not just the corporations, farmers too have received an equally large amount of loan waivers by different state governments since Modi government came to power, or at least commitments from their respective governments.