Critical Analysis of PM Modi’s promises – Part 3: Foundation for Future Growth
Article authored by @AJain and @Rgov – Astute political observers
This is the third article in the series where we are presenting an unbiased analysis of the elections promises that were made by Mr. Modi government during the 2014 election and the performance to-date against the promises.
A copy of the full manifesto can be downloaded here at the link given below: http://www.bjp.org/images/pdf_2014/full_manifesto_english_07.04.2014.pdf
- Vibrant and Participatory Democracy(https://steemit.com/economy/@ajain/modi-government-2014-election-manifesto-analysis-part-2-vibrant-and-participatory-democracy)
- Empowered and Inspired People (https://steemit.com/economy/@ajain/modi-government-2014-election-manifesto-analysis-part-2-vibrant-and-participatory-democracy)
- Inclusive and Sustainable Development
- Quality life in Villages and Cities
- Basic Amenities to All (https://steemit.com/india/@ajain/modi-government-critical-analysis-part-1-basic-amenities-for-all)
- Flourishing Agriculture
- Productive Youth(https://steemit.com/economy/@ajain/modi-government-2014-election-manifesto-analysis-part-2-vibrant-and-participatory-democracy)
- Involved Women (https://steemit.com/india/@ajain/modi-government-critical-analysis-part-1-basic-amenities-for-all)
Robust physical and social Infrastructure
Innovative and Technologically driven Society
Globally competitive Economy
Brand India built on Quality
- Strong, Effective and Futuristic Institutions
- Open, Transparent and Systems-based Government
- Pro-active, Pro-people Good Governance
In this article, we will discuss the infrastructure, economy, technology integration and brand building leading to a strong foundation for future growth.
India has always been known as the cradle of culture and civilization. Researching the legendary stories, Vedas and Puranas one finds it difficult to wrap one’s head around on how advanced the civilization was several thousand years ago. Much of it is lost today but the will to rebuild the nation has not been lost. The Modi government has taken up the challenge to shed the image of India as a land of snake charmers and to modernize India with a right balance of rich cultural heritage that India has always enjoyed.
Economic infrastructure is basic services that represent a foundational tool for the economy of a nation, region or city. Infrastructure can include physical structures, systems, institutions, services, and facilities. Given below is a subset of developmental activities that have been completed or are in progress.
Transportation: includes services such as roads, bridges, cycle highways, rail, airports, and ports.
- Rural road construction: 120,000 KM (75,000 miles) constructed since 2014 at the rate of 130 KM (81 miles) road constructed per day – double of previous governments
- Urban road construction: 15,948 KM (10,000 miles) of highways completed since 2014 through 2017 at the rate of 26.9 KM (16.8 miles) per day – more than double the speed of previous governments
- Inland waterways: Identified 101 additional inland waterways, completed 12 and 35 completed feasibility studies
- Rail projects: identified 3,300 KM (2,000 miles) of dedicated freight corridor, completed 25% of it.
- Unmanned rail crossings: eliminated all 5,500 unmanned rail crossings
- Airports: Built 6 new airports and operationalize addition 4 airports which were non-operational in 2014, handling 341 million passengers in 2018 up from about 180 million in 2014
- Bridges: Several high-profile bridges such as Bogibheel bridge, and Sadiya bridge were completed. Complete data on the total number of bridges constructed is not available.
Energy: Production and delivery of energy including electric grids. Most nations are moving towards sustainable energy sources such as solar panels and wind.
- Electricity generation:1,206 billion units in 2018 up about 25% from 967 billion units in 2014
- Renewable energy generation: 33% of electricity generation is through renewal sources such as Hydroelectric, solar and wind energy, biomass gasifier, urban and rural waster power etc.
Water: Supply of clean water and management of water resources.
- Expenditure of $1 Billion to manage underground water reserves
- Additional 154,000 households provided with clean drinking water connections
- $ 2.8 billion allocated over a five-year period to clean the rivers
Financial: Financial markets and services that support basic economic processes
- Over $100 Billion disbursed in form of microloans to encourage entrepreneurship
- Reduced Gross Non-performing bank assets to 10.8% from 11.5% translating to about $ 430 million
- Increase of 86.7% in BSE (stock exchange) market cap
- 42.6% increase in per capita income
- 49.3% increase in GDP
- 107.7% increase in indirect tax collections
- 16.6% decrease in lending rates
Public space: Public space that attracts economic activity such as tourism and corporate offices including parks, beaches and nature reserves
- Statue of unity: World’s tallest statue
- Bus terminus: modernization of all state transport bus terminus
Technology: Technology services dealing with the digital economy
- Mobile payments
- eCommerce platforms
- Smart cities
- Electronic banking
- Bank accounts: 320,000,000 new bank accounts opened
Environment: Systems that improve environmental conditions such as rain gardens and green roofs.
- Ratifying Paris agreement
- 1593 clean development projects registered, second only to China
- Ten times increase in renewable energy generation to minimize pollution through fossil fuel for electricity generation
- Air Quality Monitoring system in all major cities
- Target to reduce air pollution by 20-30% by 2024 in 102 cities
Based on the data points above, it is not hard to see that significant, and favorable changes have been made in almost all the categories of the infrastructure. This is done by containing the fiscal deficit and by not raising any personal or corporate taxation. On the contrary, the tax rates – both direct and indirect – have gone down along with a reduction in inflation which is nothing but a silent tax on the citizens. Not mentioned in this article are several long-term infrastructure projects which are underway but have not been completed. As a result, we conclude that data points to the fact that the Modi government has largely stayed true to its pledges.
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