By Adnan Ali
Narendra Modi had promised during 2014 elections that he will bring India in list of world’s most developed nations. He made few other promises to complete this promise.
These ‘smaller’ promises included 2 crore employment per year, making nation’s GDP in double digit and bringing new opportunities. That is the reason that even corporate showed trust in BJP during 2014. It even supported this party.
However, exactly opposite is happening in the nation and his claims are failing. Even the conditions of the corporate have become worse than that were in the past.
Growth rate of top companies of nation has also reduced. The growth rate of companies included in Bombay Stock Exchange’s BSE-500 index was 11%. This stat was under UPA government from year 2006-2014. However, the same growth rate reduced to 8% under Modi government.
The reduce in growth rate of companies point out many things. If growth rate would have been on rise, then demand would have increased. This would earn profit for companies. If that growth rate is less now, it means that there is lesser demand in market. Thus, companies are under loss.
Actually, during year 2016 demonetization and GST impacted every sector. It has affected Indian economy. This had bad impact on small businesses and unorganized sectors.
Because market is interlinked, companies have been affected due to problems people faced due to these policies. Media reports showed that people were unable to invest due to scarcity of money. Modi government’s two decisions have impacted people and market for the worse.
