Modi Government: A Social and Political Boon or an Economic Crisis?
The economic condition of India under the Modi government is a topic of constant public debate. However, experts often overshadow it with the impact of the pandemic. If one wants to address economic issues, it is crucial to acknowledge the influence of the pandemic.
Job Creation and the UPA Government
One point that requires correction is the high job creation claim during the UPA era. The figures were inflated due to the presence of a significant amount of black cash. People were not truly short of cash on a daily basis.
A Social Boon?
The Modi government brings a mixed impact in social sectors, acting as both a boon and a curse.
The Advantages for Hindus
Early on, Hindus had a feeling of disadvantage compared to the minority communities. However, with the resolution of the Ram Janam Bhoomi issue by the Supreme Court, Hindus now enjoy a more advantageous position. This unprecedented resolution is largely attributed to the catalyst role of the Modi and Amit Shah.
The Impact on Muslims
Meanwhile, the majority of Muslims face a sense of insecurity due to laws like the Citizenship Amendment Act, the National Register of Citizens, the consumption of cow's meat, and Triple Talaq. It is disheartening to observe how BJP's policies have lacked secularism, hence not being inclusive of all communities in the journey of economic development.
Political Evolution
Politically, the Modi government has also brought a mixed impact.
Bipolar National Party System
The emergence of the BJP as a national party is a significant change from the earlier scenario where Congress was the only national party. Although Congress still holds a strong ground in some states, it is slowly regaining its former strength.
Political Impasse and Lack of Opposition
However, the excessive strength of the BJP poses a challenge. The lack of a strong opposition party to counter its flawed policies hinders the government's accountability. Issues like the abrogation of Article 370 in a non-democratic manner, the choice made by Jammu and Kashmir's assembly to recommend the repeal of Article 370, and disinvestment in central public sector undertakings must be critically analyzed.
Economic Impact: A Serious Threat
While the 249 central public sector enterprises (CPSEs) provided substantial dividends to the government, the government's decision to disinvest Rs. 281,341 crores has led to a significant loss of national wealth. As a result, the dividends paid to the government post-disinvestment have only amounted to Rs. 71,961 crores in 2018-19, far less than the Rs. 49,703 crores provided by the Reserve Bank of India over the period 2012-13 to 2017-18.
The Demonetization Uprising
Demonetization, implemented in November 2016, remains a controversial decision. This move annihilated Rs. 500 and Rs. 1000 currency notes, harming the economy for over a year. It was unsuccessful in eradicating black money and severely impacted small traders and ordinary citizens.
In conclusion, the economic landscape of the Modi government is a critical concern. While addressing social and political issues, the importance of economic reforms and robust policies cannot be sidelined. A comprehensive approach that balances these aspects is essential for the sustainable development of India.