100 Days Of Modi 2.0 Fails To Uplift Assam’s Economic Scenario
GUWAHATI: 9 Lok Sabha seats were captured by the Bharatiya Janata Party (BJP) in the last Lok Sabha elections proving that the people of Assam continue to have huge expectations from the BJP government headed by Prime Minister Narendra Modi.
In the first 100 days of Modi 2.0, the special status of Jammu & Kashmir stands altered, triple talaq comes under the purview of law, Unlawful Activities Prevention Act has been amended and the Right to Information Act diluted. On the economic front, however, the first 100 days haven't met the expectations.
State BJP executive member, Rajkumar Tewari, talking to G Plus said, “The people of Assam expected a lot and accordingly voted in favour of the BJP, but if the current economic slowdown is not resolved the expectations of the people will not be met.” He also said that he is from Fancy Bazar and understands the issues the business class is going through and according to him there is “Mandi” in the market.
“Only making roads will not help and even if the poor are getting rice at Re 1 per kilo, the quality of the rice is not checked,” said Tewari adding that in the last 100 days the Narendra Modi government did not address the main issues which is price rise and poor business environment. He said that the people of Assam expect that prices of commodities be reduced and the business environment should be bettered to further earn the trust of the public.
It is not every day that you wake up to the news that one of India’s most well-known businessmen has died. It is during the last 100 days that the country woke up to mourn the loss of VG Siddhartha, the founder of the popular coffee chain, Cafe Coffee Day.
Since his death, speculation has been rife that he may have even taken his own life as he could not cope with the pressures of running his business and was at a loss, literally. And while his demise is a great loss to all, it brought to the forefront some important issues regarding the present economic condition of the country. The issues are even chorused in Assam.
India has slipped to the seventh place in the global GDP rankings in 2018, losing its spot to France, which is now placed in the sixth position.
It should be noted that in 2017, India had made its place as the sixth largest economy in the world. Based on figures for the year 2018, India’s GDP was at $2.7 trillion, while in the previous year, the country’s GDP was $2.65 trillion.
Based on the report, many economists and experts from the field have stated that the decline in position was due to “currency fluctuations and slowdown in growth.”
Even though India remains the fastest-growing major economy in the world, its growth has been estimated to slow down to seven percent in the current fiscal year.
It is to be mentioned that the current government has devised a plan for the country to emerge as a $5 trillion economy by 2024-25, and results from economic surveys for the fiscal year 2018-19 have shown that to attain that goal, India needs to sustain a real GDP growth rate of eight percent. The government whereas appears uncertain whether the country is actually undergoing an economy slowdown or not.
Union Finance Minister Nirmala Sitharaman, who was in the city last Thursday, addressed the media for a very miniscule duration. In the short conversation with media persons, Sitharaman gave a detailed account of government measures to boost the economy. However, when asked if the Indian economy was passing through a slowdown, she replied, “I may not able to answer it at this moment.”
The answer comes across as very strange. Being the finance minister of the country, she was not able to state if the economy is slipping into recession.
One of the worst hit sectors of the economy currently reeling is the automobile industry. According to media reports, Maruti Udyog, which acts as an indicator to measure the sales and profits of the automobile industry sector as a whole, has reported diminishing sales for the past few months. In July itself, the company saw a drop in sales by 36 percent. Other industry giants such as Mahindra Tractors saw a drop in sales by 12 percent, while Ashok Leyland saw a drop of 14 percent. Similarly, other companies in the automobile sector have noticed a downward trend in sales starting from 10 percent to 30 percent. According to experts, this shifting trend in the industry is extremely harmful for the Indian economy as a whole because the automobile sector provides for 10 percent of India’s economic growth.
“Automobile sales have decreased drastically in Assam,” said a senior official working with the automobile industry in Guwahati.
Talking about Guwahati, various organisations have sacked many employees as a cost cutting measure. A local unit of a national media house located in Guwahati sacked around 60 people at one go. “60 of us were asked to leave in one day,” said an employee under condition of anonymity. He was working in the local unit of a national media house.
No doubt the Modi government earned praises with moves like abrogation of provisions of Article 370 in Jammu & Kashmir, zero-tolerance policy against terrorism by introduction of Unlawful Activities (Prevention) Amendment bill and turning the Triple Talaq bill into an Act.
The first 100 days of Narendra Modi 2.0 government have seen hectic engagement with foreign leaders carrying out diplomacy which is likely to set the tone of foreign policy. Prime Minister Narendra Modi visited seven countries in his second innings to strengthen bilateral relations.
With the Neighborhood First policy, PM Modi has visited Maldives, Sri Lanka, Bhutan, UAE, Bahrain, France and most recently Russia.
“The 100 days of Modi 2.0 government proved that the worst days of the BJP have started in the country with people suffering under recession and economic downfall,” said state leader of opposition Debabrata Saikia.
Therefore the Modi 2.0 government immediately needs to work on improving the economy of the sate and the country before the voters get disappointed.