SME Times is powered by   
Search News
Just in:   • South Korea's current account surplus widens amid US tariff pressure  • SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore  • India will soon be world’s third-largest economy: PM Modi  • India’s chemical sector can reach $1 trillion by 2040, create 7 lakh jobs by 2030: NITI Aayog  • Intense talks continue to reach interim India-US trade deal ahead of deadline 
Last updated: 28 May, 2019  

Modi.9.Thmb.jpg Thumbs up to Modi 2.0

Modi.9.jpg
   Top Stories
» SEBI bars US firm Jane Street from Indian markets, directs it to deposit Rs 4,843 crore
» Intense talks continue to reach interim India-US trade deal ahead of deadline
» India poised to become 3rd-largest economy by 2030, overtaking Germany: Hardeep Puri
» India's industrial production registers 1.2 per cent growth in May
» Govt committed to building safe and smart energy future: Minister
Bikky Khosla | 27 May, 2019

Prime Minister Narendra Modi has roared back to power as hundreds of millions of Indians gave a thumping mandate to the National Democratic Alliance led by the Bharatiya Janata Party. While BJP has won more than 300 seats on its own and the NDA has 350 seats in the Lok Sabha, the Congress suffered its second worst defeat. The clear mandate that will lead to formation of a stable government at the Centre is seen as good news by economy watchers.

The Indian industry has hailed Modi for this historic election win. According to industry leaders, continuity at the Centre would enhance chances of more economic reforms and ensure stability of the recent reform measures, such as GST, IBC and RERA. It is also widely expected that a stable government would bring in more foreign investment, as a result of which both demand and consumption will pick up, and growth will move higher supported by lower interest rates.

All sound good, but this is only one side of the story. Several recent reports show that economic challenges abound at this moment. An ongoing series of articles published by a news agency points to several such challenges, including slowing GDP growth, low private investment, slacking consumption-driven demand, dismal credit off take, stressed bank balance sheets, falling household saving, farm sector distress, job crisis, exports threatened by rising protectionism, and so on. These concerns are, no doubt, real.

However, pessimism shouldn’t be the only way of looking at the current macroeconomic situation. Before the elections the general assumption was that there would be a hung parliament, but fortunately our voters have given a clear mandate to the Narendra Modi-led government, which in the last five years did some great jobs towards reshaping the fundamentals of the Indian economy. I hope Modi’s second term won't fall short of the nation's expectations.

I invite your opinions.

 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter