Modi government has got comfort from the signs of improvement in the economy of the country. During the four-year term of the Modi government, the average annual growth rate was more than seven percent and inflation remained under control. Relief from the general public rising inflation the prices of food items are also in the grip of consumers. After the first two years of special note, the prices of essential consumer goods were exempted from the reach of the common citizen, they have now come under control and the people have got the rest. In addition to taking fiscal discipline, work was done to bring down the fiscal deficit. In this paper various schemes and decisions of Modi government are to be described.
KEYWORDS: Average Annual Growth Rate, Inflation, Fiscal Discipline, Fiscal Deficit.
Introduction Modi government has got comfort from the signs of improvement in the economy of the country. During the four-year term of the Modi government, the average annual growth rate was more than seven percent and inflation remained under control. Relief from the general public rising inflation the prices of food items are also in the grip of consumers. After the first two years of special note, the prices of essential consumer goods were exempted from the reach of the common citizen, they have now come under control and the people have got the rest. In addition to taking fiscal discipline, work was done to bring down the fiscal deficit.
The key indicator of the health of the economy is growth rate. Before the Modi government, the growth rate was 6.4 percent in 2013-14, after reaching 8.1 percent in 2015-16, it has reached 6.7 percent in 2017-18. In the last quarter of the financial year 2017-18 (January-March), the country's growth rate has been 7.7 percent, which is the highest among emerging major economies worldwide. Modi government has set a balance in the economy. The reason for the increase in the price of petrol and diesel is the global market, which has no special control. By making various taxes on this, the government increases its revenue. Unexpected increase in oil prices has hurt the common masses and it has adverse effects on our economy, but it is a matter of satisfaction for us that due to the inadequacies of other consumer goods, the government's reputation remains spoiled. During the four-year tenure of the BJP government formed under the leadership of Prime Minister Narendra Modi, there are many ups and downs in the country's economy. Modi made many big and historic decisions to make the country's economy public and speed up. After the initial shocks, the country's GDP got stability and on the economic front, the country's carriage started moving in line with the hope. Especially the note-taking and the countrymen emerged from GST. In four years, the Modi government took 9 major economic steps, which resulted in credibility of the country increased in the world.