Sunday August 19, 2018
Home India PM Modi is Op...

PM Modi is Optimistic about NDA’s Reforms to Boost Up Indian Economy

Lashing out at the critics, the Prime Minister elucidated about his government’s firm determination to boost up India’s economy. Admitting the economic plummet witnessed during the span of April-June, Modi declared that his government was devoted to back-pedal the mishaps due to the structural reforms of the economy. Let us look at what PM Modi said in his speech.

0
//
53
Modi
Prime Minister Narendra Modi. Wikimedia
Republish
Reprint

After facing severe criticisms over economic deceleration for a very long time, Modi finally broke his silence while addressing the Golden Jubilee Year Celebrations of the Institute of Company Secretaries of India (ICSI) in Delhi. Lashing out at the critics, the Prime Minister elucidated about his government’s firm determination to boost up Indian Economy.

Prime Minister Narendra Modi’s demonetization policy brought down the country’s GDP growth rate to a mere 6.1%. The implementation of the Goods and Services Tax (GST) added to the plight of already sick Indian economy.

Admitting the economic plummet witnessed during the span of April-June, Modi declared that his government was devoted to back-pedal the mishaps due to the structural reforms of the Indian economy. Let us look at what PM Modi said in his speech.

On Economic Reforms

PM Modi was very straightforward to acknowledge the economic slump caused. He assured that the BJP government was capable of reversing the trend and would take important decisions in that direction. Further, the Prime Minister informed that a cleanliness campaign has been started to remove the people who try to undermine the nation’s unity and integrity. Under this cleanliness campaign, a Special Investigation Team (STI) has started working ever since the Modi government came to power.

On Critics

Welcoming the constructive criticisms, Modi declared that his government is sensitive enough to accept the prevailing denigrations in the Indian economy and are rectifying their mistakes. The Prime Minister opined that people have the right to criticize the wrong, but one should restrain from fabricating an environment of panic in the country. Further, he added that his government has started working towards the “development of new India, new culture, new celebration, and new traditions.” Some people do not welcome the reforms even though they are good for the nation simply because they are anti-BJP. “People who sleep well only after spreading pessimism about government’s economic reforms need to be combated”, emphasized Modi.

Past Economic Deceleration

After achieving a whopping growth of 7.5% over the last three years, Modi acknowledged that the growth rates dropped sharply in April-June but the BJP government would not sit back until putting Indian economy on firm footing. While addressing the gathering, the Prime Minister recalled a time when Indian economy growth rate was as low as 0.2% under the previous government thereby emphasizing the fact that India can recover from the economic sluggishness.

Mainstreaming Informal Sector

Encouraging the movement from the informal sector to mainstream economy, PM Modi assured, “People coming to mainstream fear that their old records may be reopened. We will not let that happen because earlier their old way of business was necessitated by prevailing circumstances. Nothing is more sinful than blocking those who want to come to the mainstream. Let bygones be bygones.”

On Doklam

Many people opined that the BJP Government would not be able to handle the Doklam crisis. Describing the censurers as hypocrites, Modi elucidated that “when the economic growth is favorable, it is the same people who like the institutes and process; but the moment situation becomes unfavorable to them, they say that the system is not right, the process is not right, people working in it are not right and just accuse people.” The Prime Minister also held the view that before drawing any conclusion, it is imperative to identify these people at once.

On Transport System

Modi made a comparative study of the BJP government with the previous ones. He argued that in its last three years, the UPA government constructed National Highways spanning an area of 15,000km while the period under his government has witnessed the construction of more than 34,000km National Highways. As far as the construction sector is concerned, Modi claimed that the total number of foreign investment has increased by 75% from 2014-2017. The foreign direct investment in the air transport sector has also registered a growth by 69% in the past three years. Likewise, in the mining sector, there has been an increase by 56%.
The Prime Minister also told that the BJP government is trying to increase the speed of development while creating a large number of job opportunities. He added that the government knows the value of the hard-earned money and thus their policies are aimed at improving the lives of poor and middle class. Moreover, most of the government schemes are launched to empower the poor. What affects them the most is corruption and black money estimated Modi.

– Prepared by Mohima Haque of Newsgram
Twitter: mohimahaque26

Click here for reuse options!
Copyright 2017 NewsGram

Next Story

Why JDU & BJP Coalition Will Remain Intact

JDU knows that this 15-16% votes is not enough to help the party and for the BJP too, only the 17% votes of upper castes are not sufficient

0
Nitish Kumar with Narendra Modi.
Nitish Kumar with Narendra Modi.

By Sagarneel Sinha

There have been lots of discussions among the political circles that JDU led by Bihar Chief
Minister Nitish Kumar is upset with the BJP and trying to send signals to erst allies — RJD and the Congress. This led to speculations that Nitish may once again join the Grand Alliance (GA) leaving the NDA camp. Already, RJD’s new commander Tejasvi Yadav has clearly stated that Nitish led JDU will not be welcomed in the GA. Despite all the odds, if (suppose) GA partners accommodate Nitish, he wouldn’t be the driving force of the alliance as in 2015. Also, Nitish cannot afford to go alone like in 2014 when his party fetched only 2 seats!

Then which is the correct way for JDU? It is to go with the BJP in the upcoming 2019 polls.
JDU’s advantage in this case is the present situation of the BJP. Currently, the saffron party is not in a strong position as the party would be facing anti-incumbency from a strong RJD led alliance in the state. BJP’s traditional voters are the upper castes who account for 17% of the electorate. This votebank is not enough for the party to help to win elections. The main opposition party — RJD still commands over a larger votebank than BJP. RJD is still a dominant force among the Yadavs and the Muslims who account for 31% of the population. It means BJP has to minus the 31% votes and rely on the rest — 69%. Out of these, 16% are the Mahadalits — a large portion of whom generally hail Nitish Kumar as their leader. Also, there are Kurmis, an OBC group consisting of 4% votes — considered as the supporters of JDU. Nitish Kumar himself is also a Kurmi.

Nitish Kumar Invited to Join NDA by Amit Shah After JDU-BJP Tie-up in Bihar
Nitish Kumar Invited to Join NDA by Amit Shah After JDU-BJP Tie-up in Bihar.

JDU knows that this 15-16% votes is not enough to help the party and for the BJP too, only the 17% votes of upper castes are not sufficient. However, if these votebanks are joined together they form around 31-32%. Plus, to gain the extra votes, both the parties have the option to rely on the personal charisma of Nitish Kumar and Prime Minister Narendra Modi. However, there is a power tussle between the two allies to get a respectable share of seats.

This power tussle is because of a strong BJP which earlier used to be a junior ally. The 2014 Lok Sabha elections changed the political scenario of the state where BJP emerged as the largest party in terms of vote share and seats. JDU knows the reality of a new emerging BJP, though it is pushing hard to gain a respectable share of seats for the Lok Sabha elections. Instead, Nitish Kumar has another option — giving the bigger chunk to the BJP for the Lok Sabha elections and the latter playing the junior partner for the 2020 assembly elections if held timely. Given the current situation in the country, in a crucial state like Bihar, BJP can hardly reject JDU as the later still commands over 15-16% votes — a very crucial votebank for winning maximum seats in the 2019 polls. Importance of JDU can also be explained by BJP president Amit Shah’s visit to Patna to have breakfast and dinner with Nitish Kumar. Though in politics there are no permanent friends or foes, so any perfect prediction is impossible. But given the current situation, JDU and BJP parting their ways seems unlikely as both the parties are in need of each other as already highlighted by Amit Shah that the two allies would fight the Lok Sabha elections together. Smiling face of Nitish Kumar was also an indication that the meetings with Amit Shah were fine.