Modi's model of governance does not work for all Indians
This is in response to the column, 'Modi government does not believe in sops, it delivers on schemes' (KT, Aug 29) hailing the Indian PM for his 'achhe din'. In fact, 'acche din' has arrived only for those in jail and are being prosecuted for the riots and murders in Gujarat, UP and other states. For the rest of the Indians, the country is going though one of the worst recessions in modern times. The automobile industry, one of the biggest employer in India, is facing the worst crisis. According to the Federation of Automobile Dealers Associations, 200,000 people have lost their jobs in this sector alone.
Construction has been showing negative growth since demonetisation, and has not recovered yet. The agricultural sector is witnessing a steep decline in growth, down to 2.7 per cent. At the end of the UPA government, the growth stood at the rate of 5.7 per cent.
The writer has claimed that the people in India did not gain anything despite 70 years of congress rule. This is incorrect. It's the Congress government that made India what it is India today. ISRO, BHEL, BPCL, military forces, nuclear programme, 5-years plans . the list is endless. The Congress' Green and White Revolutions not only made India self-sufficient as far as food is concerned but also made it a major food exporter.
Most of the schemes the Modi government is celebrating are renamed schemes of the former government. In fact, 19 out of 23 schemes have been renamed and credits hijacked.
The writer has provided the figure of a $5 trillion economy. I would like to point out here that Rs1.7 trillion has been snatched from the RBI which is unprecedented. The RBI, with its low cash reserve, will not be able to provide a cushion for any upcoming recession. This will destroy the banking sector and the economy will be in free fall. It's wrong to believe that a government on the verge of economic collapse will develop a $5 trillion economy.
The writer is based in Abu Dhabi