Jubilee Post News & Views
News Desk
Nikkei, an economic magazine in Japan has attacked Prime minister Narendra Modi via an article. The article has blamed Modi for the economic instability in the country and has accused the government for focusing more on Hindutwa.
The magazine article says despite his victory in the elections but the economy is in a bad shape. IN the column Heny Sander has written that PM Modi had promised to give the country Gujarat like growth and won election. But the decisions like demonitazation and GST have made the economy fall instead of the expected growth.
The article blamed Modi for focusing more on Hindutwa rather than dealing with economic crisis. The article says instead of using the mandate for meeting with the challenges of economy and eliminating them the Modi government made focus upon the Hindutwa double.
In an attempt to get the country identified by Hindutwa the special status of Jammu and Kashmir was scrapped and the citizenship law was amended. The government spoke a lot on social changes but it kept aside the issue of economy, the article further said.
Operations head of Nissan Foods India Gautam Sharma has stated that demand has gone down in India and if rural India is considered the demand went down fro all products ranging from Maggie to shampoo and even tractors.
According to Sharma people consume when they feel their future is safe but the government has damaged their confidence.
The article talks about automobile to real estate and says people do not want to take out their cash during downfall. The investors have lost faith the share of private investment in the GDP has touched the lowest.
Not only this but the article speaks about assembly elections in Uttar Pradesh and said the BJP victory was due to demonetization. It says in November 2016 the target was black money when Rs 500 and Rs 1000 currency notes were demonetized and the result was the reverse of the expectation. The Indian community that depends upon cash for transaction had nothing to spend. The Rs 500 and Rs 1000 currency has 90% share in transaction.
The opposition too was cash strapped and it became difficult to contest elections.
