‘Modi Government’s Track Record Is Splendid, NDA Cleaned Up UPA’s Mess’: Noted Economist Arvind Panagariya
‘Modi Government’s Track Record Is Splendid, NDA Cleaned Up UPA’s Mess’: Noted Economist Arvind PanagariyaArvind Panagariya (Twitter/Arvind Pangariya)

Noted economist and former vice chairman of NITI Aayog, Arvind Panagariya has stated that PM Modi-led NDA government has ‘done splendidly well’ and if the NDA is not re-elected, there would be a setback in India’s economic reforms.

Writing for Economic Times, he notes that the UPA government under PM Manmohan Singh did not initiate a single reform with the same significance as that of Insolvency and Bankruptcy Code (IBC), Goods and Services Tax (GST) and Direct Benefit Transfer (DBT). These three were rolled out by the present regime.

“Indeed, not only was the first UPA government lucky enough to harvest what the Vajpayee government had sown, at the end of its second term, it also left an un-ploughed field with debris thrown all over.

The successor government had to spend its entire first year removing the debris and readying the field for cultivation again by reassuring investors against retrospective taxation, taming inflation, unblocking numerous stuck infrastructure projects, and ending bureaucratic paralysis,” wrote Panagariya.

The economist, who teaches presently at Columbia University, called the guaranteed minimum income for all announced by Congress President Rahul Gandhi as ‘fatally flawed.’

“Congress will need a better social spending proposal and, more importantly, a roadmap for growth friendly reforms if it wants to take the nation forward. Alas, the story of Kamadhenu is a myth, not reality,” he concluded.

Also Read: Panagariya Brings Clarity To Debate On Jobs: We Don’t Have To Create 12 Million Jobs Annually

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber