Modi government short on economic creativity

Indian Prime Minister Narendra Modi is missing out on the finer details of propping up the country’s economy.

While his reforms across various sectors will ensure that the country’s growth rate will escalate, Modi has forgotten to address the plight of the farmers and the agricultural sector which is not going to produce a good report card.

There are three ways to assess this failure: that agriculture accounts for just 15 percent of India’s GDP, so there is no real damage done. Alternatively, it is going to be a disastrous phase for India’s farmers, who, unable to eke out a living, and plunging into debt, are committing suicide.

Worse still, it is apparent that the government has no long-term plan to prop up the agricultural sector which has been impacted by the apathy of the authorities, drought, unseasonal rains, rising costs and corrupt control exerted by middle men.

The government has fallen short of economic creativity. Reform measures need to be introduced quickly in the agricultural sector so that farmers have some sort of insurance to support themselves. It would be ironic to see India importing food in order to meet a domestic crunch brought about by the government’s illogical whims.