(As the NDA government completes two years in power, The Quint brings for its readers ‘Modi@2’, a special series evaluating the performance of the current regime.)
The NDA government under the leadership of Shri Narendra Modi completes two years in office. Way back in May 2014 what it inherited was a socio-economic climate of hopelessness and a catastrophic spiral into economic gloom. Successive governments in the past facilitated an import-driven regime to meet domestic consumption. Such a policy framework not only depleted our foreign exchange reserves but took away manufacturing and agricultural activity abroad. It is a no brainer that when we import less, domestic economic activity gets its fair share of new jobs and business opportunities.
It therefore, took some time to deal with a governance architecture which simply needed drastic make-over resulting in a corruption free, efficient and a development driven executive. Reform is a relatively slow but effective process wherein all stakeholders participate in a constructive framework of blending skills, capital and regulatory mechanisms to create jobs and businesses that propel economic prosperity. The three Ds of Demand, Democracy and Demography are in favour of India.