Key decisions of Modi 2.0
Modi concentrated more on social issues in this seven months period. Significant among them are prohibition of Triple Talaq in Islamic customs thereby providing big relief to Muslim Women, providing Citizenship to lakhs of religious persecuted minorities in Afghanistan, Bangladesh and Pakistan who are residing in India. Another important development took place with regard to Ayodhya issue. Nearly 500 years old issue was resolved by Supreme Court and it paved the way for building Ram Temple at the place where Hindus believe that he was born.
Another important issue resolved during this period is abrogation of Article 370 and 35A from the Constitution. Also, it was decided to bifurcate Jammu and Kashmir State in to two Union territories J&K with legislative Assembly and Ladakh without legislative Assembly. Similarly, Daman and Diu and Dadra Nagar Haveli were merged and made single Union territory.
Most of these issues were kept unresolved since Independence. Modi took bold decisions in the first six months itself. Though most of these issues are sensitive, the earlier Governments deferred due to fear of backlash. It was a bold initiative by Modi, political experts observed.
On Economic Front
The most important decision was reduction of Corporate Tax. Like decisions on social issues, this was also a daring decision unmindful of branding him as friend of Corporate houses. Its impact will definitely there on economy in the long run. Another important policy decision is announcement of Rs 100 trillion investment in Infrastructure in the coming five years. Another flagship programme taken is Jal Shakti Mission to be completed in the coming five years. Experts observe that it will be big flagship programme like Swachh Bharat and Ujjwala schemes in the first phase.
Two more important decisions were taken in this short period. Privatisation of Public Sector Enterprises like Air India, BPCL, SCI and CCI through disinvestment. Though these decisions were taken aiming Rs 1.09 lakh to Government coffers, no single unit came to the successful logical conclusion. Chances of realisation before the end of this financial year is doubtful. One more important announcement was about merger of Public Sector Banks. OBC and United Bank will be merged into PNB; Syndicate Bank will be merged into Canara Bank; Andhra Bank and Corporation Bank will be merged into Union Bank and Allahabad Bank into Indian Bank. History only will tell how far this decision will be useful to the Banking sector.
On political Front
Results are mixed in this front. At the centre, Modi was able to comeback with comfortable majority which will allow him to continue the leftover tasks in the first term and also to take up new programmes. However, mixed results have come in State Assembly elections. Maharashtra, one of the largest States in the country slipped from NDA. Though NDA won comfortable majority in the elections, differences in between BJP and Shiv Sena made BJP to lose power. People's mandate became no use. In Haryana, it emerged as single largest party and compelled to align with JJP which contested against them in the same elections. Jharkhand lost simply by wrong strategy. Its long term ally AJSU left BJP and contested alone. Result shows that both are losers. BJP would have extended long hand to keep the ally in good humour. The difference is that only. BJP lost the momentum came in Lok Sabha elections and opposition was able to recover some prestige lost in Lok Sabha elections. Coming Delhi and Bihar elections will be interesting to political observers.
Economy is in reverse mode. GDP is slowed down in the last two quarters disappointing all. Consumption has come down. Investments are not coming. Rural economy is in distress. Economists are predicting recovery very slowly. It is bad news for Modi. His aiming of Rs 5 trillion within five years may not be reality. Exports are vital segments if big jump has to come in economy. As on today, no signs of such a situation in the near future. Protectionism has become order of the day by increasing tariffs on imports. RCEP no more hopeful. US-China trade talks not reached finality. Gap in trade with China is increasing year by year. Overall, economy has become big challenge by year end.
2020 should be Year of Hope
Hope that social tensions will come down in the new year. New India with strong unity and integrity will be made foundation in the new year, we hope. Economy will again rebound with fast moving into future, we hope. Financial sector will overcome all the hurdles and will be most dynamic, we hope. India's borders will be safe and strengthened with settling dust in Jammu and Kashmir on western front and in Assam on eastern front. We hope that database will be a reality in the year 2020. Identity politics will be replaced by sound politics based on merit. All in All, India will be Great and 2020 will lay the foundation for further rising of Indian Flag high and high.