Economic disparities are increasing in country due to economic policies of Modi govt

Fast Mail News

Industrialist Gautam Adani said during a recent event in Mumbai that the economic policies of the Congress governments from 1991 to 2014 developed an environment and infrastructure for development in the country, and after 2014, the Modi government is flying high on the same infrastructure.

As expected, this statement was missing from most of Modi's media, the reason is obvious that the only way for Prime Minister Modi to prove himself great is to blatantly deny the achievements of previous governments.

In most of his speeches, Modi ji makes baseless statements about the terrible state of the economy before 2014, while during the Modi government, every published report related to the economy or social data of various government departments or Niti Aayog tells that the country's economy and social level grew relatively faster during Manmohan Singh's time than during the Modi era.

On the other hand, since 2014, questions have been raised all over the world on the economic policies of the Modi government.

An article published in the New York Times on the Indian economy says that till now Modi alone used to autocratically draw the blueprint of the economy, the aim of which was to increase the size of the economy but the benefits of this growing economy did not reach the society and neither did it create employment opportunities.

After becoming the Prime Minister for the third time, even if Prime Minister Modi wants to improve his own system, he cannot take decisions alone because now he will have to fulfill coalition-dharma. It is difficult to improve this situation because Modi ji does not think of providing the benefits of the economy to the public – his economy is the fifth and third largest economy and is based on 5 trillion dollars.

In Modi ji's economy, foreign investment is coming in the stock market, the benefit of which is reaching only the rich. Despite all the claims, investment in industries is decreasing, and even in the industries in which investment is coming, employment is not being created. About one billion youth in the country are looking for employment, whereas according to a report of the Center for Monitoring Indian Economy, in the current situation, the total employment opportunities in the country are only for 43 crore people. Even among these employment opportunities, most of them are in the unorganized sector, daily wage labour and agriculture, in which there is no job security for workers.

 In fact, the expansion of industries creates a large number of employment opportunities rapidly. In Modi Raj, the investor summit in every state has become like a big event, where the country's big capitalists, foreign capitalists, Prime Minister and Chief Minister enjoy a 5-star picnic, praise each other, the court media shows the public the rosy picture of development and employment - nothing happens beyond this, the naked public remains naked. But, the grandeur of the event increases next year. During the Manmohan Singh government, the rate of expansion of industries was 17 percent on an average, whereas in the Modi era, despite all the uproar, it has remained only 14 percent on an average.

In April 2024, Business Today published a statement of senior Congress leader P Chidambaram in which  he had said that the growth of the economy is a natural process, but Modi ji presents every statement like magic and mystery. The pace of GDP growth does not reveal how much benefit is reaching the common man – for this, the per capita income figure is more accurate.

According to the Human Development Index 2023-2024 of the United Nations Development Programme, the per capita gross national income globally is an average of $17254, the average of developing countries is $11125, in South Asia it is $6972, but in India this figure is only $6951 and in this context India ranks 136th in the world. On the other hand, in terms of billionaires, India ranks third in the world and their wealth is increasing wildly year after year.

Economic inequality is now also evident from the reports published by the government with great fanfare. According to a report of the Ministry of Statistics and Program Implementation of the Government of India, Family Consumption Expenditure Survey 2022-2023, a rural person in the country spends an average of Rs 3773 every month, while an urban person spends an average of Rs 6459. Till here everything seems normal, but when we read the report closely, it becomes clear that not more than 60 percent of the country's population reaches this average.

Another fact that emerges from the report is that the country's richest 5 percent population spends almost as much every month as the poorest 50 percent of the country's population collectively spends.

The truth of Modi ji's economic development that in the year 2004, India's economy was at the 12th place in the world, which reached the seventh place in the year 2014. Obviously, in the 10 years which Modi ji calls the dark chapter of the economy and which the court media propagates, the ranking of our economy at the global level reached from 12th to 7th place, i.e. it increased by 5 places. On the other hand, in the ten years after the year 2014, despite all the bad publicity, the economy has reached the 5th place from the 7th place, i.e. there is a difference of only two places. The problem with the country is not that there are so many problems, but the problem is that the government and media of the country are busy denying every problem. The government gives a guarantee for every problem, and then the second one.