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LATEST NEWS UPDATES | As Modi Celebrates Eight Years as PM, Three Economic Faultlines That Can't Be Ignored -Arun Kumar

As Modi Celebrates Eight Years as PM, Three Economic Faultlines That Can't Be Ignored -Arun Kumar

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published Published on Jun 20, 2022   modified Modified on Jun 21, 2022

-TheWire.in

In the last three years, the Indian economy has been in crisis even if its organized sector has been doing well.

Three years of Narendra Modi’s second stint as Prime Minister was celebrated by the Bharatiya Janata Party earlier this month. The self-congratulatory campaign, however, was spoiled quickly by a succession of events, all of which point to what has gone wrong during his tenure.

First came the news that the economy is slowing down.

Then came the comments by BJP leaders against Prophet Mohammed, which led to an international uproar and put the government on the back foot. Correctives were applied for damage control.

Soon, thereafter came the revolt by the youth against the announcement of the Agnipath scheme for recruitment into the military.

Finally, the stock market crashed almost into bear territory. It is the sharp rise in the stock market that had enabled the government to claim that the international investors have confidence in the Indian economy’s performance.

Corollary of past policies

Each of these events in June have a link with the policies being pursued over the last three years and earlier. These adverse events could have arisen earlier, but have come at an inopportune moment when the ruling party wanted to showcase its achievements.

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TheWire.in, 20 June, 2022, https://thewire.in/economy/eight-years-modi-economy


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