The Modi Government came into power last year in May 2014 with much hype and pomp and show. Many promises were made and there was a general wave of relief that “ache din”/ good days will finally be upon us after being ruled for 10 years by a corrupt Congress. The mass’s frustration clearly showed when the BJP won with a staggering majority and it was certain that the public finally wants a change of scene and a change of pace.

With one year gone, however Indian Economy hasn’t shown any of its promised surges, inflation still remains strong and farmers are still suffering. So has the Modi Government just been beating a trumpet or has it actually delivered some realistic promises as well? Let’s take a look at the Modi Government Report Card.

While many have questioned Modi’s frequent visits to other countries as well has playing host to dignitaries from foreign lands, one cannot deny that strengthening collaborations with countries like USA and Japan will actually help India in the long run. Such collaborations do not show result in the short run but with the influx of investments and development of infrastructure by building smart cities and introducing bullet trains, India will surely be on the path of recovery with a strong infrastructure where it has strongly lacked.

With the “Swachh Bharat Abhiyan” being an instant hit, one cannot overlook the fact that the Modi government has built over 58 lac toilets and has also got over 7,980 km of roads built in its very first year which are a sign towards a more developed country.

 Modi has been able to invite big names like Mark Zuckerberg who is the CEO of Facebook as well as Jeff Bezos, the CEO of Amazon and has signed lucrative deals with him. Mark Zuckerberg for example has agreed to help increase internet penetration in India with better broadband connectivity in more rural areas and inaccessible parts of the country through drones. With a more digitised India, more people will have access to internet facilities like online banking, recharge phones and also avail benefits of discount coupons like Paytm Offers and start saving money and enjoy continued services and let the internet transform their lives.

When it comes to the manufacturing sector, Modi launched the “Make In India” to encourage manufacturers to make products in India itself. It focuses on 25 sectors of the economy and will surely result in job creation and is focusing on sectors like automobiles, electronics, textiles etc. and the Government boasted that the growth of manufacturing and service sector outpaced that of other nations of BRICS in December 2014, showing positive signs of growth.

To compliment Make In India, the government has also announced defence projects worth Rs. 80 thousand crore rather than importing them from other nations at much higher prices.

When it comes to the poor, Modi Govt. is overseeing the Jan Dhan Yojna to make sure every individual has a financial footprint and has a bank account. The government came under fire for not having taken proper action in compensating the farmers who were hit with the ill-timed monsoons this year however Modi assured that the compensation would be increased by 50% and the standards for qualifying for compensation were lowered too.

If we have given 10 years to the Congress government, I think we can give the Modi government a little more time before we reach any conclusions. There are still many challenges to face like whether to allow FDI in B2C ecommerce with foreign giants like Amazon and Ebay who are strongly in favour of it and Indian retailers like Flipkart and Snapdeal are against it feeling Amazon will squeeze every bit of smaller manufacturers and flood the Indian market with Chinese goods. This will be an important decision on the government’s part as it cannot ignore the huge role ecommerce and online shopping sites play in the economy  and should take a very careful stance on the matter.

One year is not enough to judge the government and one must remember, for economic growth to start taking place it takes a bit of time for the “transmission effect” to take place and for the policies to actually start showing any relevant progress. Modi has made India proud on the international front and I think the man deserves some more time before we start questioning his abilities. The “ache din” will surely come with the right policies and right measures that help in the development of the under privileged in our society!

Posted by The Indian Economist | For the Curious Mind