Evaluations of the Narendra Modi government's economic performance suggest a need for policy course correction after 12 years [1] in power.
This assessment comes as India faces a complex mix of internal policy consequences and external shocks. The ability of the administration to maintain its growth trajectory is under scrutiny as neighboring competitors show stronger relative gains.
The current analysis covers the period starting from the May 16, 2014 [2] election to the present. Analysts said a combination of global crises and specific domestic choices have shaped the economy. Among the domestic policies cited is demonetisation, which is viewed as a significant factor in the nation's economic trajectory [1].
External pressures have also played a role. The West Asian crisis is identified as one of the global shocks that impacted India's stability [1]. These factors have created a volatile environment for growth, one that requires a re-evaluation of existing strategies.
A key point of comparison is the economic performance of Bangladesh. Reports said Bangladesh has achieved a higher dollar-growth rate than India [1]. This shift in regional dynamics suggests that India's current approach may not be yielding the expected competitive advantages.
The discussion emphasizes that while global crises were unavoidable, the internal policy decisions were within the government's control [1]. The gap in growth compared to Bangladesh serves as a primary catalyst for calls for a strategic shift in economic management.
“India may need a course correction.”
The comparison between India and Bangladesh suggests that regional economic leadership is shifting. If India's growth in dollar terms continues to lag behind its neighbor, it may indicate that domestic policy disruptions and a failure to insulate the economy from West Asian volatility have offset the benefits of its larger scale.
