This issue scares Modi more than corona!

Prime Minister Narendra Modi couldn't have imagined that his second term in office would be filled with back to back challenges from all the spheres of the country than what he had faced in his first term. For the nation, he would be completing the first year of his second consecutive term next month, but for him, it was filled with the chapters of ordeals and words of compliments. 

After facing the storm on the political fields by introducing controversial bills and amendments, his government has been battling against the micro menace and its lightning speed spread across the country. Although the Modi government has imposed a nationwide lockdown to curb the spread, it has been struggling to tackle the challenge that lies after combating the virus - the economical crisis. Modi's plan to leverage the plunging economy was apparently seen in his last address where he extended the lockdown to contain the virus and prescribed some antidotes for the ailing economy.

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Prime Minister Modi addressing the nation during which he announced the lockdown extension till May 3. - April 14, 2020

 

The Central government has announced that the restrictions on some of the sectors would be relaxed after April 20 and the fresh advisories have been sent to the state governments. Modi had chaired successive meetings with the top-level officials and ministers on what he thought would be more challenging - social and economic security. 

Our sources say that Modi had decided to let the state governments tackle the virus in their respective territories and he is concentrating on repairing the broken economy. The recent inputs from the Intelligence agencies to Modi had revealed that the first three months post lockdown would be of great challenge to the Center as the weakening state of the economy would increase the unemployment and it would spur the law and order issues across the country.

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File photo: RBI Governor Shaktikanta Das arrives to attend the news conference in Mumbai - Photo: Reuters

 

The inputs highlighted that the country's GDP currently stands at 2.8% which is far below the predictions of the Center and the economy had been going through aberrant developments before the lockdown and it has further worsened due to the pandemic and the current state had directly targeted the middle and low-class people as they would be incurring the huge burden that would, in turn, affect the government. Following the inputs, Modi discussed with the experts on providing relief measures to the affected people for the next three months so that the government, on one hand, can provide assistance directly to the people, on the other hand, to start fixing the economy.

One of the biggest challenges for Modi is that his government must balance the companies and banks when it comes to providing financial reliefs and experts have suggested making temporary amendments in the existing acts towards directing Reserve Bank in circulating currencies to the industries and Modi had discussed the same with RBI Governor Shaktikanta Das. The Prime Minister has also convened a virtual meeting with India's top businessmen and asked them not to carry out any pay reductions or retrenchments as it would largely help the ruling government in reviving the economy. However, some of the IT companies had either announced job cuts or pay cuts showcasing the sequel of the pandemic.

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Migrant workers crowd up outside at a bus station in Ghaziabad, Delhi as they wait to board the buses to return to their hometowns during the 21-day lockdown - Photo: Reuters

 

Our sources stated that the Central government has been covering up the ailing economy under the guise of saving people's lives and the economic and unemployment crisis would be largely burdening the Modi's government even after containing the health crisis brought by Coronavirus.

 

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