A GLASS HALF FULL
The Modi government begins its second term with a raft of legislative and executive action, but faces the big challenge of reviving an economy in slowdown
As the Narendra Modi-led government completes 100 days of its second term, an in-depth sectoral analysis of what has been achieved and what remains to be done
Well begun is half done. The maxim seems to have guided the Narendra Modi government as it made an explosive start to its second term in office on May 30. Its 100-day strategy has been marked by speedy decision-making— decisions pending for years have been taken. The dilution of Article 370 to alter the status of Jammu and Kashmir and the appointment of a chief of defence staff had been part of the BJP’s manifesto for years. The government has stepped on the parliamentary pedal—the first session of the 17th Lok Sabha, in which a record 32 bills were passed, was the most productive since 1952. The government has sought to fix the loss-making public sector banks by merging them. A similar merger awaits the mammoth military ordnance factories. The first steps towards part-privatisation of the railways have been taken. In the social welfare sector, triple talaq has been criminalised and a new law to
protect children from sexual abuse introduced.
The government has enhanced focus on what it believes got it a second term with a bigger mandate—delivering benefits to the commoner. Existing schemes are being fast-tracked. The target of providing 80 million Ujjwala gas connections by March 2020 was achieved seven months in advance. New initiatives, such as expanding the power network and providing piped water to all households by 2024, have kicked off.
But this speed of decision-making does not conceal the gnawing worry about the economy. Growth has contracted, from a high of 8 per cent to 5 per cent—the lowest in six years. Practically every economic indicator—automobile sales, factory output, agricultural growth, exports, private investment, real estate and construction—is down. The financial sector is weighed down by bad debts. More than just the pace of its 100 days, Modi 2.0 will be judged by how it combats this looming recession. ■