An Impact of Modi’s Government on Indian Economy with Special Reference to Selected Governmental Programmes

Abstract

The economy of India is the sixth largest economy in the world measured by Purchasing Power Parity (PPP). The country is classified as a newly industrialized country, one of the G-20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7 percent over the last two decades. India’s economy became the world fastest growing major economy in the last quarter of 2014, surpassing the People’s Republic of China. The long-term growth perspective of the Indian economy is positive due its young population, corresponding low dependency ratio, healthy saving and investment rates, and increasing integration into the global economy. This paper deals with the impact of Narendra Modi’s Government on various socio economic sectors of Indian economy. This study is trying to analyse the progressively changes in various economic variables through implementing various welfare programmes in present Indian economy and after the Modi came into power.