New Delhi, May 27: Economist Yogendra Kapoor has shared his insights on the economic impact of Prime Minister Narendra Modi’s 12-year tenure. He emphasized that the government’s consistent electoral success is largely due to the trust it has built among the people and their faith in its intentions.
Kapoor noted that the Modi administration has made significant efforts to transform the country’s economic landscape and ecosystem. The government has leveraged digitization not merely as a technical shift but as a crucial means to enhance transparency. He highlighted the strengthening of the Direct Benefit Transfer (DBT) system, which aims to deliver government schemes, subsidies, and other benefits directly to citizens.
He pointed out that the global community is now praising India’s DBT model, as it facilitates direct transfers to beneficiaries’ accounts. This approach has reduced corruption and increased public trust in the government, which has been a key factor in its repeated electoral victories.
Kapoor remarked that the true test of any government and leadership comes during times of crisis. Citing the COVID-19 pandemic, he noted the global instability and economic turmoil that ensued. While many economies faltered, India faced the challenge with resilience.
He stated that despite ongoing global conflicts and economic fluctuations, India has established itself as a robust and flexible economy. The government’s adept handling of the situation during crises deserves recognition, he asserted.
Regarding Prime Minister Modi’s commitment to delivering economic benefits to the most marginalized, Kapoor mentioned that the government has consistently worked towards this goal over the past 12 years. Efforts have been made to ensure that the advantages of various schemes reach ordinary citizens directly.
He added that India has maintained an economic growth rate of 5 to 7 percent, which is considered superior compared to many major economies worldwide. Despite challenges such as inflation and global pressures, the government has strived to keep prices under control.
Kapoor concluded by stating that India is now viewed as a ‘resilient economy’ both domestically and internationally. He attributed this perception to the government’s ongoing efforts and policy decisions.
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