why modi -reforms are not making impacts on economy?

is modijis reforms are not adequate? why reforms not making positive impact on economy?
any thing mising?

 

Could any one out here at least one reform done by Modi ? for me I could not

 

Less than 2 yrs have passed. I request everybody to keep faith in him. "Acche din jaroor aayenge."

 

Let us see the budget. Is there any reforms to start with

 

On a more serious note I would add that NDA govt. is now facing the political reality in India.Tough reforms are politically undesirable. Much as we want India to be developed we forget our contribution is required as well. Govt. does not have a magic wand. For e.g. gas subsidy, OROP, MNREGA, Food Security, etc.etc. The NDA govt. has been forced to adopt all the schemes of the UPA govt. because of fear of alienating voters. Modiji is still trying. Lets hope the voters realize that they too have to support the govt. and not become dependent of it to develop the country.

 

Thanks to Congress no major economic reform passed in Parliament. Also most important and most complicated portfolio i.e. finance under somebody like Arun Jaitley who could not run even Delhi Cricket Association properly.

However some very good initiatives taken byModiji: -

1. Efforts to improve ease of doing business: - Reducing number of permits, faster environment clearances, improved tender process (railways) etc...
2. Transparency in auctioning of mines (to avoid another coal scam)
3. Stopping gold plating of expenditure in oil exploration and renegotiation of Qatar gas deals
4. Financial inclusion: - Jan Dhan Yojana, pradhan mantri suraksha bima yojana, atal pension yojana and new crop insurance scheme
5. Efforts to reduce corruption via direct benefit transfer.
6. More funds are transferred to state government and local government bodies (panchayat and municipalities). This will lead to better facilities at state and local level.
7. Earlier Indian foreign policy was influenced by 'taking care of Chinese sensitivity'. So we avoided collaboration with Japan. Now under a fearless leader we have a fearless foreign policy. We are openly teaming up Japan on various economic projects and doing military exercises with Japan in spite of Chinese warnings.
8. Planning Commission gone and thus finance commission (a legitimate constitutional body) regained its power. This will have good impact on federalism.

All these reforms will take time to show results.

Thus Modiji is undertaking large number minor reforms as he is unable to do major reforms. If Modiji manages to get majority in Rajya Sabha and Raghuram Rajan is appointed as FM then miracles can happen.

 

You think Raghuram Rajan would make a good FM. Why ?

 

Raguram rajan is undoubtedly a great economist. and manmohan singh was also a good economist.but mms was not a good fm or pm. so i dont think good economists make good fm generally.

 

Jayant Sinha will make a good FM?Maybe they can shift Jaitley to law ministry>

 

I read in paper that Modi is doing lot of Jhoomla. Many figures are bogus.

"Loud thunder, little rain" is supposed to be an old Chinese saying. Nothing would describe the Modi government better. There can be no doubt that, in 21 months, it has been able to register improvement on several economic fronts. But the tendency to make exaggerated claims diverts attention from what is real, and affects credibility. Last week, Mr Modi was back to doing what he does best: organising a spectacle. As is usual with such shows, the investment promises emanating from a 'Make in India' week were vastly exaggerated. Maharashtra, for instance, is said to have signed more than 3,000 Memoranda of Understanding (MoUs) with the potential to create three million jobs.

Just in case you think only Mr Modi plays this game, Mamata Banerjee's investment summit a month ago extracted for her state investment promises that totaled one-sixth of what has been announced for the whole country (Rs 15 lakh crore, or about 10 per cent of GDP) at the end of the Make in India week. And, earlier this month, Karnataka topped West Bengal's numbers at its own investment summit. In its last three such 'summits', Karnataka has compiled investment proposals that total Rs 13 lakh crore. You are welcome to believe such numbers. But, according to one compilation, less than 10 per cent of the promises flowing from Mr Modi's old Vibrant Gujarat shows have fructified. To adapt a centuries-old saying, if MoUs were horses, beggars would ride!

https://www.business-standard.com/article/opinion/t-n-ninan-making-and-faking-116021901026_1.html

 

A good FM must understand global economy. Raghuram Rajan has proved that he is capable of understanding the global economy. His prediction regarding economic crisis proved correct in 2008.

Finance ministry is extremely difficult to handle and FM must have domain expertise or else incapable and lazy bureaucrats will take him for a ride. Raghuram Rajan has very deep knowledge about national economy, global economy and banking. Also he is a great leader. He can transform finance ministry.

Also since he is an outsider with international exposure, he will bring new ideas. His term at RBI proves that he is capable of out of the box thinking. Significant reforms: -

1. Small banks and payment banks to enable financial inclusion.
2. Creation of monetary policy committee which led transparency and accountability w.r.t monetary policy (Earlier monetary policy depended on the mood of the governor. Rajan actually decreased his own powers to increase efficiency at RBI)
3. Issuing new bank license (IDFC and Bandhan).
4. Dollar window for oil companies to reduce volatility in rupee.
5. Brilliant initiative to tackle NPA problem --> Strategic debt restructuring or SDR.

History has shown that when a country is fortunate enough to have a good PM and good FM then miracles do happen. Example: -

German Economic Miracle 'Wirtschaftswunder': - After WW2, rapid economic development under West German Chancellor Konrad Adenauer and his Minister of Economics, Ludwig Erhard, who went down in history as the "father of the German economic miracle."

We have a good PM. All we need is BJP's majority in Rajya Sabha and Raghuram Rajan as FM. If this happens then I am sure that the future generations will be reading about 'Indian Economic Miracle' and its great architects.

 

MMS was a good FM but a bad PM. He played an important part in LPG reforms 1991. During that time India was fortunate to have a good PM (Narsimharao) and a good FM (MMS).

Minister of Economics, Ludwig Erhard, one of the architect of the German economic miracle (after WW2) was an economist. Architect of Japanese economic miracle Hayato Ikeda had a finance background (Ikeda was FM in 1949 and later served as PM from 1960 to 1964)

Thus FM must have economics background and is having a good FM is extremely important for the country's growth.

Rajan is as capable (if not more) capable than both Ludwig Erhard and Hayato Ikeda. There are rumors that Modiji wants Rajan to become as FM after he retires as governor in March 2017. I pray to God that these rumors are true.

 

Jaitley should be shifted to HRD while Smriti Irani must be shifted to National Commission for Women. Using deep insights and her long experience as 'Bahu' and 'Sass', she will make sure that: -

1. Saas does not trouble Bahu.
2. Senior Bahu does not trouble Junior Bahu (wife of Senior Bahu's son) when Senior Bahu becomes Saas

10% improvement in Saas-Bahu relations --> 50% less arguments in house --> 500% improvement in productivity in Saas and Bahu's husbands--> 25% GDP per annum-->FII's start pumping money again--> All our stocks becomes 100 bagger. Even JP associate, Suzlon, Deccan Chronicle and IVRCL return to original price and become 10 bagger.

 

logic is rocking

 

LOL Logic is too good

 

We solved problem of stuck road projects worth up to Rs 3.5 lakh crore: Nitin Gadkari

Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

 

Excellent performance of Suresh Prabhu: -

https://www.financialexpress.com/ph...suresh-prabhu-in-10-slides-check-irctc-co-in/

Proves that 'Team Modi' is best.

 

1. cause is previous govt (congress) big holes and corruption "coal scams , IT Raja scam " etc...
2 . cause Due to world rescission all countries making closed economies and concentrate on their own economies
3 .last few years monsoon is below average so agriculture weakness and high food inflation
4. Due to world rescission last 11 months continuous exports weakness in india
5.ALL banks NPA reached to 4.5 lakh crores due to some major industries , Banking strong reforms is needed
6.Strong and deserving prime minister , but weak FM
7.heavy population will eat all benefits 130 Cr. and every year adding 1.5 cr. population , take steps to control population
8.some youth are increasing in India just they damage public properties ex : in south india and north india recent incidents
9.our economy is basically depend on Agriculture , govt should give support to that field and take steps to control inflation
10.IT industry is fully depend on other countries and competition also , margins are uncertain
11. USA is creating every month 2.5 lakh new jobs , yearly 30 lakh new jobs in all sectors
like that indian population increasing every year 1.5 cr. , creating jobs , health , Food ,education is biggest problem and impossible to any government

all should send request and valuable suggestions letters to Finance minister and pmo is required to strengthen economy and stock market


ALL THE BEST

 

very good analysis sir.
can we suggest this to modiji? is it possible?

 

yes ,

https://pmindia.gov.in/en/interact-with-honble-pm/

registered in pmo and send your suggestions through mail to our Hon .prime minister sir

click write to the prime minister option