Narendra Modi’s Key Initiatives and Influence on the Indian Economy : Narendra Modi, India’s 14th Prime Minister, has spearheaded numerous initiatives during his tenure, spanning diverse sectors like infrastructure, economy, social welfare, and technology. While their effectiveness and impact remain subject to debate, these projects undoubtedly paint a picture of his vision for India’s development. Let’s delve deeper into some key initiatives and their economic implications:

Infrastructure:

Smart Cities Mission (2015): Aiming to develop 100 cities with improved living standards through technology integration and sustainable practices, this ambitious project has witnessed uneven progress. While some cities like Jaipur and Surat showcase advancements in waste management and public transport, others lag behind. The long-term economic impact, in terms of attracting investments and boosting tourism, remains to be seen.
Dedicated Freight Corridors (2006): Four dedicated railway corridors are being constructed to expedite freight movement and decongest passenger lines. Three are operational, reducing travel time and logistics costs for industries. This has the potential to improve supply chain efficiency and boost trade competitiveness.

Economy:

Make in India (2014): This initiative aims to propel domestic manufacturing and attract foreign investments. While it has garnered interest and investments in sectors like automobiles and electronics, achieving the ambitious target of a 25% GDP contribution from manufacturing remains a challenge. Concerns regarding ease of doing business and inadequate infrastructure continue.
Goods and Services Tax (GST) (2017): Replacing a complex web of state and central taxes with a unified system, GST aimed to simplify indirect taxation and boost economic activity. While it has streamlined compliance for some businesses, its impact on smaller enterprises and the informal sector remains mixed. The revenue collection, however, has steadily increased.

Social Welfare:

Swachh Bharat Abhiyan (Clean India Mission) (2014): This nationwide campaign to improve sanitation and hygiene has achieved significant progress in constructing toilets, particularly in rural areas. However, challenges persist in waste management and behavioral change, requiring sustained efforts for long-term impact.
Ayushman Bharat Yojana (Pradhan Mantri Jan Arogya Yojana) (2018): Providing health insurance coverage to low-income families, this scheme has expanded access to healthcare for millions. Yet, concerns remain regarding quality of services and accessibility in rural areas. The economic impact includes reduced healthcare expenditure for beneficiaries and potential job creation in the healthcare sector.

Technology:

Digital India Initiative (2015): Promoting digital literacy, access, and infrastructure development, this initiative has led to significant strides in broadband connectivity, e-governance, and digital payments. The Aadhaar identification system, while facing privacy concerns, has facilitated access to various services and benefits for millions. The overall impact lies in improved transparency, efficiency, and financial inclusion.

Comparison with Previous Governments:

Evaluating the impact of these projects vis-à-vis previous governments requires considering the context and inherited challenges. While some initiatives like GST and infrastructure development build upon earlier efforts, others like Make in India represent new approaches.

Economic Growth: Under Modi, India’s GDP growth averaged around 7%, higher than the previous UPA government’s average of 6.7%. However, factors like global economic trends and policy reforms under both governments contribute to this growth.
Poverty Reduction: Poverty rates have declined under Modi, continuing a trend observed since the 1990s. Attributing this solely to his policies is difficult due to the complex interplay of economic and social factors.
Social Welfare Schemes: Modi’s government has expanded the reach of several social welfare schemes, like rural employment guarantee and mid-day meals, but their effectiveness in poverty alleviation compared to previous approaches requires further analysis.

Conclusion:

Narendra Modi’s initiatives have reshaped India’s landscape, reflecting a leader aiming for rapid development, digitalization, and social inclusion. However, assessing their success and comparing them to previous governments necessitates a nuanced understanding of the context, challenges, and ongoing efforts. The long-term economic impact of these projects is yet to be fully realized.