Narendra Modi: his 10 years tenure, works review,challenges,and impact

Narendra Modi and his 10 years tenure as Prime minister of India has spanned a decade from may 2014.The leadership of Modi has been marked by significant economic, infrastructure development, political, social norms,and social welfare.

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Bharatiya Janata Party (BJP) government under PM Modi came to power. We take a look at what the decade from 2014 to 2024 has been like for the Indian economy, with a focus on the performance of economic reforms, infrastructure development,and social norms.

On these 10 years, it's essential to examine the successes, Challenges and over all impact of his policies and strategy on India.

Modi's Economics Reforms and Initiatives: Social and welfare Schemes : Foreign policy 

• Make in India:It was launched in September 2014 .The "Make in India"initiatives aimed to transform India into global manufacturing hub.
• Demonetization: Modi announced the demonetization of ₹500 and ₹1000 currency in November 2016.
• Neighborhood first Policy: This policy brings improving relations neighboring countries.
• Good and Services Tax(GST)
• Swachh Bharat Abhiyan 
• Pradhan Mantri Jan Dhan Yojana(PMJDY)
• Ayushman Bharat 
• Act East Policy 
• Strengthening ties with the US
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Modi's Challenges and Criticisms in the tenure 

• Economic Slowdown 
• Social polarization 
• Handling of the COVID-19 pandemic 

And we explore the key milestones and impacts of Modi’s tenure on the Indian economy .

Impressive economic growth:When Narendra Modi take on office in 2014, Country's economy was struggling with slow growth and declining investor confidence due to a series of high-profile corruption cases, and with among other reasons. However, over the past decade, India’s gross domestic product (GDP) per head has seen a remarkable increase.

In 2014, the Gross Domestic Product per head was almost $5,000; by 2022, it had increased to over $7,000, marking a forty percent increase, according to an essay in the Conversation. This growth trajectory is based on purchasing power equality.

Projected growth rates: As per the reports of the International Monetary Fund (IMF), India’s economy is estimated to grow at a rate of 6.5 per cent in 2024, striking China’s estimated growth of 4.6 percent and far exceeding the United Kingdom’s expected growth of 0.6 percent.

Social welfare and public goods

Aadhaar and direct benefit transfer (DBT): This is one of the Modi government’s remarkable achievements.The implementation of the Aadhaar system is a digital ID linked to fingerprints and iris scans. Near About 98 per cent of Indian adults are now enrolled in this system.

Infrastructure development: Modi government has launched extensive infrastructure projects, including a massive rural road construction programme within country. The infrastructural development has not only improved connectivity but also increases economic activity in rural areas.

Growth in financial assets: The value of shares and debentures held by households surged by 1031 per cent from Rs 18,930 crore in 2014 to ₹ 2,14,191 crore in 2023. Mutual funds’ assets under management increased by 378 per cent, from Rs 8,25,240 crore in 2014 to ₹ 39,42,031 crore in 2023. Savings deposits also grew by 197 per cent, highlighting the growing financial literacy and investment appetite among Indians, according to Moneycontrol.(Sources)

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