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Hope for many big economic reforms from Modi

Saturday - May 25, 2019 4:21 pm , Category : BUSINESS
Modi to change the economy of the country in the second term!
Modi to change the economy of the country in the second term!

Modi to prepare the path for economic growth for the next 25 years in the coming 5 years!

MAY 25 (WTN) - Prime Minister Narendra Modi's victory in the Lok Sabha elections has tremendous meaning. The eyes of the whole world were caught on the Lok Sabha election of India. Now that Modi is once again going to become the Prime Minister of India, then the economists believe that in the next five years, Modi will prepare the path for economic growth for the next 25 years.

According to economists, India's Gross Domestic Product (GDP) will increase under the leadership of Prime Minister Modi. At the same time, the country's economic growth rate will increase and the means of employment for the youth will be available. Due to the policies of the Modi Government, the best business environment will be created in India and this will increase foreign investment due to this.

Well, for your information, let you know that BJP does not have a majority in the Rajya Sabha at present, in this way; parliamentary problems can be exposed in the party for the legislative reform agenda. But despite the challenges, the economic scenario for Modi government led by BJP is positive. According to a research, the annual growth rate of GDP is expected to be 7 percent per annum during 2019-23. India can become the world's fifth largest economy in the year 2019, only after the leadership of Modi's efficient leadership, after which India's GDP will cross $ 300 billion.

India will replace to Britain as soon as becoming the world's fifth largest economy under Modi's leadership. By the year 2025, India will overtake Japan, and India will become the second largest economy in the Asia-Pacific region after China. But economists have advised the Modi Government that the new government will have to deal with the challenges which may be a cause to prevent the current increase.

In the second term of the Modi Government, it is expected that the new government will take a lot of attention towards structural reforms in many key areas. The Modi Government needs to give maximum attention to areas like agriculture and banking. While the Modi Government needs to pay a lot of attention to the transparency auction of land and the digitization of records in the agricultural sector, whereas there should be accelerating in the privatization and reforms in the public sector banks. Doing this will not only help in achieving fiscal goals, but also increase the efficiency of government banks.

At the same time, the Modi Government may be expanding the GST, bringing real estate, fuel products, liquor products and tobacco into GST realm. If the Modi Government is successful in doing so, then it can be said that it will be the biggest and the best step towards the 'one nation, one tax' aim.

The Modi Government has got a much overwhelming majority in its second term. After which it is being said that the Modi Government can take even more stringent decisions in the direction of economic reforms than the first term. If this happens then it will increase the country's GDP and fiscal discipline will increase. Now let us see where the Modi Government takes the nation's economy in its second five-year tenure.