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Modinomics: Design, Implementation, Outcomes, and Prospects

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  • Raghbendra Jha

Abstract

This paper presents an analysis of the key elements of Modinomics, defined as “everyone's participation, everyone's progress.” It investigates the reasons why Modinomics was necessary, the key elements of Modinomics, and how this policy was implemented. It argues that India's economic policy has had continuity since the economic reform package of 1991, so Modinomics has involved a high component of better implementation. Nevertheless, there have been some major policy changes as well. The paper discusses the deep structural reforms of demonetization and a Goods and Services Tax as well the new Insolvency and Bankruptcy Act. The paper examines the record of economic growth under Modi as well as new welfare and employment programs to make economic growth more inclusive. Finally, the paper examines the medium and long‐term growth prospects for India.

Suggested Citation

  • Raghbendra Jha, 2019. "Modinomics: Design, Implementation, Outcomes, and Prospects," Asian Economic Policy Review, Japan Center for Economic Research, vol. 14(1), pages 24-41, January.
    • Handle: RePEc:bla:asiapr:v:14:y:2019:i:1:p:24-41
    DOI: 10.1111/aepr.12236
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    References listed on IDEAS

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    1. Raghbendra Jha & Duc Nguyen Truong, 2015. "Estimates of Trade Mis-invoicing and Their Macroeconomic Outcomes for the Indian Economy," Review of Economics & Finance, Better Advances Press, Canada, vol. 5, pages 19-34, May.
    2. Dean Spears & Arabinda Ghosh & Oliver Cumming, 2013. "Open Defecation and Childhood Stunting in India: An Ecological Analysis of New Data from 112 Districts," PLOS ONE, Public Library of Science, vol. 8(9), pages 1-1, September.
    3. Kenneth S. Rogoff, 2016. "The Curse of Cash," Economics Books, Princeton University Press, edition 1, number 10798.
    4. Emran, M. Shahe & Stiglitz, Joseph E., 2005. "On selective indirect tax reform in developing countries," Journal of Public Economics, Elsevier, vol. 89(4), pages 599-623, April.
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    Cited by:

    1. Arun Kumar Deshmukh & Ashutosh Mohan & Ishi Mohan, 2022. "Goods and Services Tax (GST) Implementation in India: A SAP–LAP–Twitter Analytic Perspective," Global Journal of Flexible Systems Management, Springer;Global Institute of Flexible Systems Management, vol. 23(2), pages 165-183, June.
    2. Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2019. "Modi's Economic Reforms in India: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 14(1), pages 1-23, January.

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    More about this item

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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