What will Modi 2.0 do for India?
With the world’s biggest democracy opting for stability and returning the Narendra Modi Government for a second five-year term, all eyes are on what will Modi 2.0 do?
Here are some actions to look out for. As my friend Amith Karanth from India Australia Exchange Forum says: “Modi will also pull some surprises”.
Looking ahead at Modi’s priorities
Health – telemedicine, more doctors, increase immunisation
Education – Modi wants India to have a top 100 global university – he will deregulate many top universities to allow this improvement
Add 50 city metros
Inclusion – banking for all, reduce poverty to single digit
Employment creation and lifting farm/shopkeeper incomes will continue to be a focus
Building more infrastructure
Devolving more responsibility and power to the state governments, extending the level of competition between them and empowering local leaders
Streamlining the GST, which was a minor miracle itself, but has multiple complexities
While privatisation of government institutions such as banks and more is needed – this might remain in the “too hard basket” in term two
Looking at what Modi has already achieved
Moves against corruption such as demonetisation (one of his major surprises), reduction in cash and movement towards digital payments
Introduction of a GST, arguably the world’s biggest tax reform – meaning the central and state governments are now awash with funds and can now do things
Focus on startups and cheaper loans for SME’s has created real growth in new enterprises
National campaigns such as “Clean India” have begun the big job – providing access for many millions to toilets is just one of the outcomes
Some reforms to the insolvency and bankruptcy has increased confidence in doing business
Modi has been a relentless global salesperson for India and attracted record foreign investment
India’s infrastructure has changed massively in five years – with more to do