Is Modi Governments development agenda on track?

Shri Narendra Modi-led BJPs 2014 General Election Campaign and its subsequent victory with a
massive mandate was a closely watched event worldwide and therefore, it is only natural that with the
BJP-led NDA government completing one year in office, a fair assessment would be made on what was
promised and what has been achieved thus far.
BJPs 2014 General Elections Manifesto highlighted most of the above mentioned legacy issues
with a promise to addressing most of them. BJP promised greater devolution of powers to the states and
more inclusive approach when dealing with them, a greater decentralization and a shift from
representative to participatory democracy. On development, the BJP promised setting up 100 smart cities
that were Wi-Fi enabled, putting greater focus on developing the East, harnessing its natural resources in
bringing development on par with the West, improving connectivity and development of the North-eastern
region and stepping up the development of Arunachal Pradesh and Sikkim. With corruption being a major
poll issue, the BJP promised to introduce several reforms based on Minimum Government, Maximum
Governance. Amongst the promised reforms were the speedy introduction of an effective Lokpal
institution, judicial reforms and police reforms and elimination of obsolete and ineffective laws. On social
and welfare issues, the party promised to prioritize development of 100 most backward districts, improve
PDS through efficient use of technology, improve the living conditions of SCs and STs, improve minority
welfare activities, modernize madrasas, preserve and promote Urdu and create educational and
employment opportunities for the girl child. BJP promised to introduce various social security programs to
include those who are still without any form of security cover. BJP promised significant focus on
education, infrastructure, health and industry along with facilitating greater flow of FDI into various
sectors.
Present Scenario:
When the present government took office, the CAD situation was serious, inflation was riding high and
shrinking forex reserves were a concern. Finance Minister Arun Jaitley had the challenging task of
reviving the economy while keeping expenditure under control. One year down, one can confidently say
that the economy is on the right track to recovery with signs of continued growth in FY 2016-17.
The numbers speak for themselves. CPI Inflation was 8.3 percent in May 2014, which dropped to
4.9 percent in April 2015. The WPI Inflation was 6.2 percent in May 2014, which came down to -2.7
percent in April 2015. The Repo Rate was 8.00 in May 2014, which came down to 7.50 in April 2015.
Forex reserves continue to rise. Those were at $352.1 billion as on 8 May 2015, but reflected an increase
of $11.7 billion over April 2015.
The government is actively pushing ease-of-doing-business in India. The Planning Commission
has been replaced by NITI Aayog to improve response to emerging economic scenario. The government
has given the Make in India initiative a boost by encouraging manufacturing of defence equipment in
India. Furthermore, the government has opened up the sector to private investment. As a result, major

deals involving over Rs. 1 lakh crore are in various stages of negotiations. Another ambitious initiative of
PM Modi is to build a high speed rail network under the Diamond Quadrilateral initiative. To begin with,
the government plans to build high-speed rail connectivity between regional cities such as MumbaiAhmedabad, Bangalore-Chennai, Delhi-Agra, Delhi-Chandigarh, etc. and then, it aims at connecting the
major metros with high-speed trains.
Social and Welfare Initiatives taken by Modi Government
Pradhan Mantri Jan-Dhan Yojana (PMJDY):
One of the largest initiatives ever undertaken anywhere for financial inclusion was launched in India to
bring into the banking system a large section of people who remained outside it all these years.
Prime Minister Suraksha Bima Yojana (PMSBY):
This Accidental Death and Disability scheme is available for a nominal premium of Rs. 12 per person per
annum. With this, the individual gets an accidental death insurance cover of Rs. 2, 00,000 and permanent
partial or full disability cover of Rs. 1, 00,000.
Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY):
This scheme provides a cover of Rs. 200,000 in case of death against a single installment premium of Rs.
330 per annum that is auto debited to the policyholders bank account. The scheme is open to everyone
between 18 and 50 years of age.
Mudra Bank:
To address the vast majority of youth who wish to be self-employed and start small business ventures, the
government has launched Mudra Bank.
Swachh Bharat Abhiyan:
The Swachh Bharat Abhiyan is a personal initiative of the PM with the aim of eliminating open defecation
by installing toilets in every home, 100 percent eradication of manual scavenging and scientific
processing of municipal solid waste.
Two major bills are still pending: the Land Acquisition Bill and the GST (Goods and Services Tax)
Bill. Clearance of both the bills is crucial for reviving the economy but political one-upmanship by various
political parties has stalled the passage of the two bills. Hopefully, the next session should see both the
bills being passed through consensus and accommodation.
The initial euphoria of the Modi wave has given way to pragmatic reality of Indian politics and
today, the expectation is more circumspect. Overall, the people are happy with how the Prime Minister
has taken upon himself to push Brand India in the comity of nations but are a tad disappointed with the
slow pace of reforms and development.
For a first time Prime Minister and someone who made his debut at the national level by taking
charge as the Prime Minister, Narendra Modi can look back with satisfaction in the year gone by. Looking
ahead, he continues to carry hopes of a billion people to lead them to a path of inclusive development and
a better quality of life than they have had till now. He still has four more years to fulfil that expectation.