Modinomics 1.0 and the Indian Economy

Hideki Esho

Journal of Interdisciplinary Economics, 2020, vol. 32, issue 1, 12-22

Abstract: In this study, we recapitulate the economic policies/measures implemented by Narendra Modi in his first five-year term (2014–2019), referred to as ‘Modinomics’. It rests on two pillars, namely growth strategy and anti-poverty programmes, represented by the ‘Make in India’ and ‘JAM trinity’ initiatives, respectively. Further, we assess the economic performance achieved in his first term. Macro-economic indicators, such as economic growth and inflation rates, show satisfactory results; however, we do not find enough evidence of the main objective of ‘Make in India’ being fulfilled, which is ‘to make India a global hub of manufacturing, design, and innovation’. The continuation/aggravation of ‘jobless growth’ is concerning; thus, India should adapt export-oriented industrialization strategy to enhance the viability of ‘Make in India’ and create enough jobs opportunities. JEL: E24, E61, N15, N35, N65

Keywords: Modinomics 1.0; growth strategy; anti-poverty programmes; macro-economic performance; jobless growth (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:sae:jinter:v:32:y:2020:i:1:p:12-22

DOI: 10.1177/0260107919875569

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