Prime Minister Modi ,during his visit to Japan, has repeatedly claimed success of the initiatives taken by him and his Government in achieving 5.7% growth for India within 100 days of the formation of his Government. It is by no means a less achievement by any Government.
However, scrutiny of the data brings an amazing picture and I wonder "How PM Modi has not been appraised correctly by the Finance Minister and other economists in his Government?"
Let me highlight these facts:
GDP of 5.7% is for the Quarter April-June 2014. Modi Government came into power on 26th May,2014,which means this milestone of 5.7% growth was achieved within 35 days AND NOT 100 days. If so, People of India should expect a growth of nearly 9-10% for the 2nd quarter and still higher,say 12-13% for the 3rd quarter.(Modi Government will complete 125 days and 215 days by the end of 2nd and 3rd quarter of FY 15).
We are really looking for real Ache Din.
There is one more view point and I believe that it should also be presented: 5.7% growth is for the period 1st April-30th June,2014.Prior to Modi Government,there was UPA Government for 45 days and lame duck government for 10 days.Do we give part credit of higher growth to UPA Government as well? The response is likely to be "NO" If so,the other possibility could be ," Actual growth for 55 days prior to Modi Government was very very low and it is only a growth of nearly 10% or so during the 35 days period of Modi Government(26th may to 30th June,2014) boosted the average growth for the quarter to 5.7%."
Sir, We all will know the truth and clear position by the end of 3rd quarter FY 15. Let us not forget that
1st Q was dominated by the General Elections leading to lot of economic activity. GDP for 2nd and 3rd quarter will have the positive impact of festival season. Nevertheless,GDP of more than 6% for both the forthcoming quarters will indicate definite improvement in the economy. Otherwise we will be searching Ache Din under the carpet.
However, scrutiny of the data brings an amazing picture and I wonder "How PM Modi has not been appraised correctly by the Finance Minister and other economists in his Government?"
Let me highlight these facts:
GDP of 5.7% is for the Quarter April-June 2014. Modi Government came into power on 26th May,2014,which means this milestone of 5.7% growth was achieved within 35 days AND NOT 100 days. If so, People of India should expect a growth of nearly 9-10% for the 2nd quarter and still higher,say 12-13% for the 3rd quarter.(Modi Government will complete 125 days and 215 days by the end of 2nd and 3rd quarter of FY 15).
We are really looking for real Ache Din.
There is one more view point and I believe that it should also be presented: 5.7% growth is for the period 1st April-30th June,2014.Prior to Modi Government,there was UPA Government for 45 days and lame duck government for 10 days.Do we give part credit of higher growth to UPA Government as well? The response is likely to be "NO" If so,the other possibility could be ," Actual growth for 55 days prior to Modi Government was very very low and it is only a growth of nearly 10% or so during the 35 days period of Modi Government(26th may to 30th June,2014) boosted the average growth for the quarter to 5.7%."
Sir, We all will know the truth and clear position by the end of 3rd quarter FY 15. Let us not forget that
1st Q was dominated by the General Elections leading to lot of economic activity. GDP for 2nd and 3rd quarter will have the positive impact of festival season. Nevertheless,GDP of more than 6% for both the forthcoming quarters will indicate definite improvement in the economy. Otherwise we will be searching Ache Din under the carpet.
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