Empty vessels make much noise This aptly fits in the present scenario when Prime Minister tries hard to defend his government’s handling of the economy after former Union Finance Minister Yashwant Sinha, in an article in an English daily, had said that demonetisation and the GST rollout were poorly timed and had hit the economy hard.
Mr Prime Minister if your government is working and according to you economy is going in right direction than your government needs no marketing of it as actions will speak and result will be seen at the time of elections.
Prime Minister listed out the reforms undertaken by his government during the last three years including demonetisation, GST, and anti-corruption measures like the Insolvency and Bankruptcy Code, that would help the country step up into the next league.
Modi said that “This government had the courage to bring about demonetisation”. But it is pertinent to mention that Modi said demonetisation will inflict losses on those with black money; disrupt terrorism and eliminate counterfeit currency notes. Nothing has been achieved rather the middle class has been severely hit and GST has added more problem for the common man.
But the objectives mentioned by Modi were never achieved and the entire formula was applied to establish the online payments companies and to give them profit.
Modi refuted criticism of his government’s handling of the economy, stating a “handful of people” are trying to spread a contagion of pessimism based on the slowdown of the last economic quarter, when growth slowed to 5.7 per cent, the lowest in three years.
Congress vice-president Rahul Gandhi has rightly asked PM Modi to address the problem of unemployment and the recent spurt in suicides by farmers.
Such an arrogance, that if a policy is questioned or criticized, Modi led NDA government remain uninterested in even listening and amending their policies until and unless they are thrown out of power.
Modi listed some points to explain economic growth but his foreign tours have helped achieve the 14% increase in air passengers. Likewise sale of tractors has gone up by 34 per cent due to the reportedly purchase of tractors by Government organisations and not by farmers.
Now coming to the most striking feature of External Affairs Minister Sushma Swaraj speech at United National General Assembly where she said that under the Jan Dhan plan, bank account of at least 300 million Indians with zero balance were opened under the Modi luanched scheme.
Terming the Jan Dhan yojna ‘as the world’s largest financial inclusion scheme’, Sushma said that those, who did not have any money, had their bank accounts opened with zero balance, which would not have happened anywhere in world.
“This impossible has been made possible in India. At least 300 million Indians, it’s not a small amount. This is the total population of USA. At least 300 million Indians who had never crossed the doors of a bank today have bank accounts: this is equivalent to the population of the United States of America,” Swaraj said.
But she failed to understand that she was revealing the failures of the Modi government , by saying that India has about 300 million people who live below poverty line . Poverty is a ticking bomb, and what 300 million Indians will do with a bank account when they don’t have money. Such is the situation of India and the Prime Minister said there was a time when India was part of ‘fragile-5’ and the BJP government pulled it out to make it the fastest growing economy for most part of its three-year rule.
Modi should rather seek some advice of former prime minister Manmohan Singh and some economists including Yashwant Sinha for the betterment of the country and not for showing his marketing skills or propaganda.
By: Arti Bali
DISCLAIMER : Views expressed above are the author’s own.