An'n'Th | May-24 | Indian Economy and On Going General Election

At present Indian economy growth outlook has been enhanced by different agencies like RBI, IMF, and Work Bank. It's going to be around 7 percent for the FY 25. Indian Meteorological Department forecast about Monsoon is better than normal for the year. April 24 GST collection is at highest ever at 2.10 lakh crore. Inflation has come under control and is around 4.9%.

Extending 'Ayushman Bharat' to ASHA workers, plus 70-year age old all, and third gender is a welcome step towards universalization of health benefit. Provisioning of long-term interest free loans towards new tech and research and innovation and also for states towards 'Viksit Bharat' schemes in the interim budget indicates the Modi government seriousness towards 2047 developed India vision. Household Solar Scheme will not just revolutionize the energy sector and energy security for the country but will also kill the freebie electricity schemes of INDI alliance or opposition alliance. And this shows the basic difference of BJP ideology and execution and opposition ideology and execution.

INDI alliance and Congress manifesto and promises, which doesn't even stands more than 20% for realization versus BJP which stands 80-90% on realization scale, talks to distribution of wealth and resources as rights and that also not on the merits or skill but the number of people, caste consensus but they don't understand people don't need charity and share of others based on case, what they need is enablement, opportunity to earn and live with respect, to make coming generation self-dependent and productive to live in a great nation, developed and powerful nation. Distribution of resources doesn't make a country grow, what we produce using those resources and earn with our sweat - 'Pasina' that contributes to GDP - Gross Domestic Product. All INDI alliance promises are towards keep poor people poor, keep them unaware, lazy with the toxicity of freebies, rights, and dividing basis caste or religion. Unlike BJP Modi approach is to empower, enable people potential (although there is much to do but they have right intention in creating quality opportunities), so that people make India developed. They talk more about equality (UCC but many people see differently), removing inefficient intermediaries from services using technology (DBT, JAM), Ayushman Bharat (taking care of health) so that people contribute towards GDP effectively and productively. Industries and businesses are required, wealth creation is required not blindly, sustainably where India has better chance. People who don’t understand economy and economics keeps harping on caste, distribution, religion or having paid or unpaid left alignment don't see the outcome of people living in left countries. When P. Chidambran says that India will become developed automatically is not correct, and Sitharaman has rightly refuted that nothing becomes automatic. Few years back thriving Brazil and other developing nation has slipped the way by decades. The way Modi government has handled COVID crisis despite trouble creators Kejriwal and Mamata is exemplary. Free vaccines provided by government and free ration in the crisis which has extended for couple of years are not freebies. They were the right intervention though right items and delivery mode where other countries have distributed money just like loot (e.g. UK), to keep people safe, motivated, and finally brought out people and economy from the crisis. That's what a true leader is about.

S Jaishankar pitching on permanent seat and including that in BJP manifesto talks the intention and power Modi government is placing for the third term. Modi says in his interview that his next 100 days to do are clear and that is what he prepares for. Before election he sets secretaries and 'babus' with tasks; like figuring the roadmap and themes for developed India 2047. SC judgement on electoral bond as unconstitutional might be right in understanding basic rights of constitution, RTI Act and so on but the government intention in bringing electoral bond for a means of donation or funding to party was right. The other option is only state funded election which creates many other problems. Anyway, the new government committee, together with the election commission will find or update the way election funding or donation would be beneficial for each party. Also, one nation one election is lined up. Also, EVM and voting turn out or participation in India is better than the west, S Jaishankar reply was to the point to some of the media questions. And, if another country wants to implement EVM technology India can help them, this is something like UPI which other democratic countries don't have.

Also there have been talk of AI tools in fake video creation and use which have been earlier as well but now being used in politics in this election openly e.g. Amit Shah video and another Meena BJP video. I am not sure what exactly NITI Aayog and NASSCOM is doing or advising on this. But ‘black data economy’ (manipulation and impersonation and their multiplication) have been in use extensively in corporate and private sector especially during and after COVID era. Personal Data and Security law and proposed act has been put up on the back seat might be due to lobby of tech firms. And I believe probably this is right time India can take lead on Data Protection and Privacy implementation in IT and Digital world which will create some solution and interest free loan can be used there. IT and Digital interaction are now everywhere and in all businesses like finance and HR, so having robust solution and may be regulator like RBI for finance to clean up 'black data economy' with IT and Digital Data, which supports manipulative practices would be a great enabler for the next generation. UID has been one, UPI is another example, EVM is also one, creating quality jobs, or unlocking talents and skills out of useless white-collar job from IT to other industries for IT together with UCC, which will unlock half potential or demographic dividend of many millions population, will thrust India towards a developed nation with quality life for people, and generations to come.

Let's see on 4th of June when election results are out!