An Economy in Doldrums

The two years of the Narendra Modi government has seen a complete neglect of issues that the Indian economy is facing. No attempts have been made to sort out the inflationary pressure by taking supply side issues. Key sectors of the economy have been ignored, and only programs to buttress populist slogans of the regime have been followed with vigour. 

Prof. Prabhat Patnaik elaborates on a critique on the two years of economic policies of the Modi regime at the Idea of India Conclave 2016 in Delhi. According to Professor Patnaik, although the BJP regime is following same policies as the UPA regime, the UPA had accommodated differing voices. He also says that the policies of the BJP regime are a reflection of the hardening of neo-liberal economic policies. Here are some excerpts from the talk.