Daily Bulletin

  • Written by The Conversation
imagePrime Minister Narendra Modi has promised economic growth and good times ahead for India, but faces many challenges.Jane Dempster/AAP

Recent IMF and World Bank forecasts show that India’s economy could take over from China as the world’s fastest growing economy in the next two years.

The two organisations' tick of approval for the Modi government’s development agenda comes just over a year after Narendra Modi lead the Bharatiya Janata Party (BJP) to a landslide win in the 2014 Indian elections, securing 282 seats and gaining majority control of the lower house – something that no other single party has done since 1984.

The election result was unthinkable a few years ago. Under the previous Congress party government, India had seven years of GDP growth of around 8% or more, and India was seen as the next emerging economic power after China.

But the growth faltered and a series of major corruption scandals destroyed the credibility of the Congress government.

By the time of the 2014 elections, Indians, who had become accustomed to economic growth and its flow-on benefits, seemed desperate for change and the expectations on Narendra Modi are enormous, with both businesses and the electorate hoping that he can replicate his successes as chief minister of the state of Gujarat.

But despite the economic growth, Modi faces a number of challenges to deliver on his promise of good times ahead for India. Inadequate infrastructure, massive skill shortages and high levels of illiteracy will all hinder efforts to generate the millions of jobs needed to cater for the influx of young people entering the workforce.

The Conversation spoke with Anthony D'Costa about the economic challenges facing the Modi government and India.


Subscribe to The Conversation’s Speaking With podcasts on iTunes, or follow on Tunein Radio.

Music: Free Music Archive/Vinod Prasanna, Free Music Archive/Sunny Jain’s Red Baraat Festival, Free Music Archive/Blue Dot Sesstions: Castro (CC BY-NC)

Additional news audio: BBC News, ABC Lateline, Bloomberg TV, CNBC, Al Jazeera, Press TV, and ABC News 24.

Authors: The Conversation

Read more http://theconversation.com/speaking-with-anthony-dcosta-on-the-challenges-facing-indias-economy-43913

Business News

Top Tips for Cost-effective Storefront Signage

The retail industry is highly competitive and if you are in the process of setting up a retail store, you have come to the right place, as we offer a few tips to help you create a stunning storefront...

Daily Bulletin - avatar Daily Bulletin

How Freight Forwarding Simplifies Global Trade Operations

Global trade operations are becoming increasingly complex due to international regulations, customs procedures, and the sheer scale of global logistics. For businesses looking to expand internation...

Daily Bulletin - avatar Daily Bulletin

How Car Accident Lawyers Protect Your Rights?

In the aftermath of a car accident, the steps you take can significantly impact your financial and legal future. This is where car accident lawyers step into the frame, equipped with expertise to sa...

Daily Bulletin - avatar Daily Bulletin