24 months in power; here's a glance at Modi government's report card

| Thursday, May 26, 2016 - 15:14
First Published |
24 months in power; here's a glance at Modi government's report card

A glance at Modi government's report card

New Delhi: Two years after the grand and lavish oath-taking ceremony was organized in the  forecourts of the Rashtrapati Bhavan in Delhi; PM Modi is yet again in the capital city celebrating 2 years of his party's rule.
For the first time in 30 years, the BJP came to power with an absolute majority. Two years into governance, let's take a look at the Centre's performance:
A basic look at key indicators show that India's economy is now in much better shape that it was under the regime of Congress party. Inflation is almost half of what it was at, a couple of years ago. Country's budget deficit has reportedly shrunk to 3.9% of GDP from 4.4%. Foreign-direct investment and foreign exchange reserves have reportedly touched new highs.
Schemes and Policies:
a) Foreign-investment rules have been relaxed in many sectors including insurance, pensions and railways.
b) Legislative proposals to simplify bankruptcy procedures and strengthen intellectual property rights have been initiated.
c) Passing of the Real Estate Regulatory Bill has been seen as a great accomplishment for the Real Estate sector. Additionally, 100% FDI in e-commmerce is seen as step that will have a significant impact on the real estate sector.
d) 100 Smart Cities Mission, along with Housing for All by 2022, Affordable Housing and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) has been seen as a positive step. With the passage of Real Estate Regulatory Bill, government has also warned developers of strictest possible action if they take cheat the consumers.
e) On the diplomatic front, the PM has recently concluded a tripartite India-Iran-Afghanistan pact that will give India a gateway to Central Asia outside of Pakistan, through Iran, and will acutely help counter China’s presence in Gwadar in Pakistan.
f) Though a brainchild of the UPA, the government has taken Aadhaar forward in a positive manner
a) Legislative failures including the inability to get Opposition's approval for the crucial Goods and Services bill as well as a law to streamline the process of acquiring land for crucial projects. A leading U.S.-based business daily quoted the Prime Minister as saying that he expects the legislation to pass this year, according to the ANI.
b) State-run banks have been reeling under a growing mountain of bad debts. Experts, invariably point to the fact that India has been able to cut the musturd much because of the last year's change in GDP calculation.
c) India-Pak relations: The much heralded Pakistan Prime Minister Nawaz Sharif attending the swearing-in ceremony too could not cut the ice between the two nations. None of the government could re-start the dialogue process and also firing across the Line of Control too has intensified.
c) Mishandling of student agitations like JNU and Rohit Vemula episodes
d) GST Bill/Land ordinance: The government has been unable to pass the GST Bill in Rajya Sabha for the past two years. Touted as the biggest tax reform, the government has been unable to bring consensus amongst the opposition parties. Same has been the fate of land bill. Although the Centre took an ordinance route to clear the bill, it was re-promulgated twice and lapsed on August 31, 2015.
e) Uttarakhand fiasco: The pre-mature imposition of President’s Rule in Uttarakhand, and victory of Harish Rawat in the SC-monitored floor test, not only proved to be an embarrassment for the ruling government but also to the BJP.
Schemes by the government
Jan Dhan Yojana, LPG subsidy reforms, Swachh Bharat Mission, India-Bangladesh land boundary agreement,Yoga Day, Mann Ki Baat.
The government has initiated multiple schemes.However, the role of the Congress in creating and nurturing ISRO, has also been quite significant.

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