Infographic: Two Years of Modi Government
By Kealan Finnegan
The UK India Business Council is looking back on two years of the BJP-led Government
Released in advance of the two year anniversary of Shri Narendra Modi’s administration on Thursday 26 May, the ‘2 Years of Modi Government’ infographic reflects on how Government reforms have impacted the Indian economy and the ease of doing business.
Since 2014, India has jumped 12 places in the World Bank’s ‘Ease of Doing Business’ rankings, at the same time inflation has decreased by 3.48%. Furthermore, Foreign Direct Investment in India has soared from $24.3 billion to $40 billion, an increase of 64.6 %.
In terms of infrastructure, the Government has allocated a £2.20 trillion budget to building ports, roads and airports. This has resulted in a 46% increase in road production under the Pradhan Mantri Gram Sadak Yojana scheme.
Meanwhile, other notable stats include an 80.8 million rise in the number of smartphone users, jumping from 123.3 million in 2014, to 204.1 million this year. Additionally, the number of broadband users has grown by nearly 130% during Modi’s time in power.
Richard Heald, Group CEO of the UK India Business Council, comments: “Although it appears not much progress has made in terms of legislation passed, the data tells a different story, with clear progress being made. And there is little doubt that the Government’s policy stance on infrastructure, ease of doing business, fiscal rectitude, inflation control, reducing subsidies and encouraging ‘cooperative – competitive federalism’ has helped consolidate India’s position as the ‘bright spot’ in the global economy.
“The current situation is hopeful in India with a favourable external environment and GDP projected to expand 7.6% in this fiscal year. We hope that Government initiatives, such as ‘Smart Cities’ and ‘Make in India’, filter through the lower levels of bureaucracy quickly and fulfil India’s economic potential.”
