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Alarm for Modi
Highlights
Close on the heels of Narendra Modi facing a crucial test in the electoral arena with Bihar staring at him, the just-released official data on the performance of economy comes as a jolt to him. The NDA came back to power riding on people’s disenchantment over the policy paralysis inflicted by the United Progressive Alliance (UPA) government on the Indian economy.
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Recovery yet wobbly! GDP growth slows to 7%
Hyderabad: Close on the heels of Narendra Modi facing a crucial test in the electoral arena with Bihar staring at him, the just-released official data on the performance of economy comes as a jolt to him. The NDA came back to power riding on people’s disenchantment over the policy paralysis inflicted by the United Progressive Alliance (UPA) government on the Indian economy.
Modi’s promise of economic revival caught the imagination of average Indian. The S&P rating agency attributed the policy paralysis during the UPA regime to the dual centered polity represented by Sonia–Manmohan duo. On the contrary, Modi presents an unassailable political leadership in whom all the powers are concentrated.
But, the sluggish growth, widening fiscal deficit, poor infrastructural growth evident from the official data raises serious doubts over Modi dispensation’s ability to revive the sagging economy.
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