My Take On The State Of Indian Economy Under Modi’s India

Instead of giving a comprehensive answer to my opinion, I would like to talk about economics and some of the key indicators that will help us answer this question. Let’s see India at a glance.

1. India’s ranking in the Corruption Perceptions Index (CPI-2019) has slipped from 78 to 80 compared to the previous year, said Transparency International, while questioning the “unfair and opaque political financing” in the country.
2. Unemployment is 22.50% among (age of 25–29 years), about 9% unemployment in urban areas which is way above the national average of 7.2%.
3. According to the National Crime Records Bureau (NCRB), the number of missing women and children is rising. The number of missing women rose from 1,74,021in 2016 to 2,23,621 in 2018. The number of missing children too has risen but less dramatically — 63,407 in 2016 to 67,134 in 2018.
4. India’s GDP has declined to less than 5%. Aggregate demand is declining as well.
5. India cuts its budget for education and healthcare, two important factors for healthy (nourished) and skilled labour force. It now spends 1.4% on the health of its GDP and 3% on education only, which should be 4–5% and 6–7% respectively. That is like the norm.
6. Poorest 50% population owns 4% of the national wealth, while the richest 10% holds 73%+ wealth. And this inequality is rising.
7. 15% of the population is malnourished.
8. 25% of the population is illiterate. And among 40% who are considered literate, they have only studied till 4th standard. And let’s not even talk about the quality of education.
9. According to a UN report, India ranked 77th on a sustainability index that takes into account per capita carbon emissions, and 131st on a flourishing ranking that measures the best chance at survival and well-being of children.
10. Export declined 1.11% (declines in billions of rupees) in 2019.
11. The aggregate investment went down to 30% of GDP, lower than 15 years average of 35%.
12. Private consumption went down to 70%.
13. India slipped 10 places to 51st position in the democracy index.
14. International Monetary Fund (IMF) Chief Economist Gita Gopinath said last month that India was primarily responsible for the downgrade revision in growth projections for emerging markets and developing economies. So, all the talks of Indian economy slowing down due to world economies slowing down or the US-China trade wars, weren’t the reasons.

I don’t want to give any opinion, I have just shared some facts. One should form their own views. One thing I can see clearly is that the emphasis is very less on these issues, at least publicly.