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Economists evaluate Narendra Modi's one year as PM: 'Not yet action, some intentions'
The Narendra Modi Government which registered a landslide victory in 2014 general elections is going to complete its one year in power on May 26. During this one-year time the government announced many initiatives to woo investors like its flagship 'Make in India'.

Wherever PM Modi is going he is ensuring that 'Make in India' gets a good hearing and respective country's business community gets attracted towards it. PM Narendra Modi claims that his government is doing everything to make the process of doing business in India an easy task, which is so far considered as a tough nut to crack due to red-tapism and high level corruption in the country.

At domestic level Modi's government claims to have started many pro-people schemes like Jan Dhan Yojana with an aim to provide banking access to all and bring in more public money into the banking system, which can be availed for various developmental purposes.

With an aim to speed up infrastructure development in the country to woo domestic as well as foreign investors the government has proposed amendments in the existing land acquisition act. But so far it has failed to get it passed in Rajya Sabha where the opposition has majority.

Let's see how some eminent economists are analysing Narendra Modi's one year term in the office.

Dr. BB Bhattacharya, ex-Vice Chancellor, JNU and an eminent economist: "I will say that their performance was good in International diplomacy, leadership ability, enthusiasm. Good causes like Swachh Bharat and all. Coming to economic front - not yet action, some intentions. So, this is my sum up for one year."

DH Pai Panandiker, a noted economist and president of the RPG Foundation think-tank: As far as the results are concerned, they are looking at the rate of growth, employment, inflation and all those. There is not much one can sort of say, that has been achieved. Because the rate of growth remains almost stagnant and employment is actually going down, and coming to inflation, of course there is some satisfaction that inflation has come down, or it has reached a level which is almost half over the year. So I think that is one plus point, otherwise I don't see much happening on the ground. But, there is an effort made to change both policies as well as governance. Policy changes have taken place, like private sector investment, in Railways, defence, mining, insurance sector etc. There are changes, but two main things that have not changed, and which were expected to happen are GST and other is the land acquisition bill."

Anjan Roy, former economic advisor at industry body FICCI: "There could not be many sparkling achievements, but they are making an effort and trying to bring improvement, no doubt. But the point is that they are caught in a very difficult political situation. They cannot move on some very critical and major measures because of the parliamentary strength, so that is the limiting factor for the government. So, within that limit they are trying to make the best of it. But of course the expectations were very high and compared to that expectation it might not look very substantive. But nonetheless in these circumstances the government has made some efforts and it is making some difference. The biggest of it is at least the feeling that the government is not functional, it is no longer there. Taken the last government, second UPA almost was completely stigmatized by large scale corruption. Everyone was making money and the corruption charges were flying all over that has virtually brought the government to a stand still. Now, we have got over that situation, this is a very major achievement. And then in some critical areas there are some movements which will bear fruits over a period. So, on the whole it is not bad, not too disappointing, but one can say that it is not outstanding."

Devinder Sharma, a noted agriculture policy expert: "I think the performance of the Modi government has been quite satisfactory when it comes to economic parameters, but only the broad and macro economic parameters like physical deficit, current account deficit and the GDP. But the nation is looking forward to, whether they are giving more jobs or not. I think that would be the biggest challenge for the government."

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