During that time, Gujarat also transformed from a power-deficit to a power-surplus state, and managed the difficult task of achieving growth in agriculture while reducing its share in the state gross domestic product. Indeed, under his leadership, the western state’s economy grew at a faster pace than the national average for more than a decade. Most importantly, it sheds light on the seemingly contradictory policies of the incumbent government led by Prime Minister Narendra Modi.įrom the time Modi rose to prominence in the early 2000s as chief minister of Gujarat, the prime minister has been noted for his affinity towards promoting business and entrepreneurship he himself has reiterated such inclination on different occasions.
Understanding the history and context of such a dichotomy explains many aspects of the BJP’s history and its stints in power as India’s ruling party. In the years the BJP ruled India in the late 1990s, and beginning in 2014, the party has been wrestling with whether it should make the role of the state more prominent, or that of business and within business, should it open the doors to the world or focus on promoting - and protecting - domestic businesses? Throughout its four-decade-long history, India’s ruling Bharatiya Janata Party (BJP) has always been divided between two viewpoints on economics: the free market model that embraces globalisation and is private capital-oriented, or the more indigenous, protectionist system with a significant welfare component. 318, October 2019, Observer Research Foundation. This brief examines the task for the BJP government.Īttribution: Hindol Sengupta, “The Economic Mind of Narendra Modi”, ORF Issue Brief No. The current BJP government led by Prime Minister Narendra Modi is building a model that marries some of the largest and most expensive government programmes ever rolled out in the history of independent India to deliver goods and services, with a simultaneous push to trigger mass entrepreneurship by introducing reforms such as major tax cuts. While the BJP is assumed to be more free-market-friendly than its main rival, the Indian National Congress (INC), it is also true that the BJP government has usually greenlighted significant government expenditure in areas like infrastructure.
India’s ruling Bharatiya Janata Party (BJP) has always sought a methodology to create economic policy that goes beyond the communism-capitalism binary.
Centre for Security, Strategy and Technology.
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