Exposing the Empty Promises and Self-Acclaim of the Modi Government Regarding the Economy.

The Bharatiya Janata Party (BJP) employs official data to substantiate its grand assertions regarding economic growth, inflation, and related matters, yet even individuals within the government itself have expressed skepticism regarding the accuracy of this data. Undeniably, the actual on-ground circumstances differ significantly from the optimistic portrayal painted by the government.

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Setting the stage for the forthcoming state assembly elections and the 2024 general election, the BJP has delivered three pivotal speeches between August 9 and 15. Two of these addresses transpired during a no-confidence motion in the parliament, while the third resonated from the historic Red Fort on Independence Day. Although the contexts of these speeches were distinct, their tone and essence remained strikingly consistent.

While the parliamentary speeches aimed at defending the government’s performance, the Independence Day address should have aimed to bridge the widening gap among diverse sections of society and political parties. The aspiration to transform India into a developed nation by 2047, elevate it to the position of the world’s third-largest economy within the next five years, and guide it towards greatness over the next millennium necessitates collaboration from all corners. However, these objectives would remain elusive unless the current divisions are mended.

The ruling party’s assertion of success on multiple fronts, particularly its commendation of economic management amid the challenges of the pandemic and global conflicts, has been evident. India is positioned as a bright spot amidst a gloomy global economic backdrop, with endorsements from international bodies like the United Nations, International Monetary Fund, and private financial institutions cited as validation.

However, the stark reality diverges from the rosy official narrative. Notably, high-ranking officials within the government have cast doubt upon the reliability of the data. Moreover, marginalized segments of the population, including women and youth, confront significant unemployment, while numerous agriculturists grapple with the economic unviability of their profession.

Inconsistencies also mar the parliamentary speeches. The Atmanirbhar package introduced in response to the pandemic proposed the privatization of the public sector. Curiously, in the parliament, the ruling party praised profitable public sector entities such as PSU banks, highlighting the contradiction of privatization. Likewise, the praise for institutions like the Life Insurance Corporation (LIC) and Hindustan Aeronautics Limited raises questions about the rationale behind certain decisions, such as favoring a private company for the Rafael deal.

Cronyism remains a persistent issue, contributing to the rise of non-performing assets among banks and hampering private investment. While the Indian economy is officially touted as the fifth largest globally, doubts about the accuracy of GDP data persist due to errors and the manipulation of organized sector growth figures. Disparities have widened, leaving marginalized sections largely unaffected by GDP growth.

Despite the undeniable progress made over decades, the macro-level claims made by the government are tainted by erroneous data and contradictory assertions. False self-praise not only erodes the credibility of leaders but also obscures the actual realities faced by marginalized communities.

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