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Saturday, April 13, 2024

Why a jobless GDP growth could spoil Narendra Modi’s 2019 run

Union finance minister Arun Jaitley now exercises more caution when he speaks about India’s economic performance during foreign trips. The ‘we-are-the-best-and-everything-is-fine-here’ tone has changed to the we-are-better-than-others-but-have-issues-to-sort-out tone, a more real and mature one.

At Washington, where he is leading a high-power Indian delegation to the annual fall meeting of the International Monetary Fund and the World Bank, Jaitley said,”More than even before we are at the centre stage. That you would have to admit. But, I would put a caveat. India has become far more aspirational than ever before. So compared to the rest of the world, we are doing much better. Compared to our own yardstick, we feel, this is not enough.”

Benefitting from oil price crash and internal adjustments, the government’s finances are in a much better shape now, consumer inflation is lower than what it used to be three years back (thanks to a vigilant RBI) and on the reforms front, after a long period of inaction, things are looking up (Credit certainly goes to PM Narendra Modi and team).


To access the complete article, please use this link: F. Business