IDEAS home Printed from https://ideas.repec.org/a/sae/jinter/v32y2020i1p12-22.html
   My bibliography  Save this article

Modinomics 1.0 and the Indian Economy

Author

Listed:
  • Hideki Esho

Abstract

In this study, we recapitulate the economic policies/measures implemented by Narendra Modi in his first five-year term (2014–2019), referred to as ‘Modinomics’. It rests on two pillars, namely growth strategy and anti-poverty programmes, represented by the ‘Make in India’ and ‘JAM trinity’ initiatives, respectively. Further, we assess the economic performance achieved in his first term. Macro-economic indicators, such as economic growth and inflation rates, show satisfactory results; however, we do not find enough evidence of the main objective of ‘Make in India’ being fulfilled, which is ‘to make India a global hub of manufacturing, design, and innovation’. The continuation/aggravation of ‘jobless growth’ is concerning; thus, India should adapt export-oriented industrialization strategy to enhance the viability of ‘Make in India’ and create enough jobs opportunities. JEL: E24, E61, N15, N35, N65

Suggested Citation

  • Hideki Esho, 2020. "Modinomics 1.0 and the Indian Economy," Journal of Interdisciplinary Economics, , vol. 32(1), pages 12-22, January.
    • Handle: RePEc:sae:jinter:v:32:y:2020:i:1:p:12-22
    DOI: 10.1177/0260107919875569
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1177/0260107919875569
    Download Restriction: no
    File URL: https://libkey.io/10.1177/0260107919875569?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Ministry of Finance, Government of India,, 2016. "Economic Survey 2015-16," OUP Catalogue, Oxford University Press, number 9780199469284.
    2. World Bank, 2018. "Doing Business 2018," World Bank Publications - Books, The World Bank Group, number 28608.
    3. Ministry of Finance,, 2015. "Economic Survey 2014-15," OUP Catalogue, Oxford University Press, number 9780199460182.
    4. Ministry of Finance, Government of India,, 2017. "Economic Survey 2016-17," OUP Catalogue, Oxford University Press, edition 2, number 9780199477661.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Coady, David & Prady, Delphine, 2019. "Universal income in developing countries: Issues, options, and illustration for India," World Development Perspectives, Elsevier, vol. 16(C).
    2. Ghosh, Saibal, 2016. "Does mobile telephony spur growth? Evidence from Indian states," Telecommunications Policy, Elsevier, vol. 40(10), pages 1020-1031.
    3. Marshall Burke & Vincent Tanutama, 2019. "Climatic Constraints on Aggregate Economic Output," NBER Working Papers 25779, National Bureau of Economic Research, Inc.
    4. Betz, Joachim, 2019. "India's social policies: Recent changes for the better and their causes," GIGA Working Papers 314, GIGA German Institute of Global and Area Studies.
    5. Sassi Boudemagh Souad & Korti Rafika, 2022. "Citizen Participation: A Matter of Competency," European Journal of Social Sciences Articles, Revistia Research and Publishing, vol. 5, July - De.
    6. Morris, Sebastian & Kumari, Tejshwi, 2019. "Overestimation in the Growth Rates of National Income in Recent Years? – An Analyses Based on Extending GDP04-05 through Other Indicators of Output," IIMA Working Papers WP 2019-01-01, Indian Institute of Management Ahmedabad, Research and Publication Department.
    7. Nahapetyan Yervand, 2019. "The benefits of the Velvet Revolution in Armenia: Estimation of the short-term economic gains using deep neural networks," Central European Economic Journal, Sciendo, vol. 6(53), pages 286-303, January.
    8. Muhammad Sajid & Farhan Ahmed & Shafique Ahmed & Aadil Panhwar, 2018. "Viability of Liquefied Natural Gas (LNG) in Pakistan," International Journal of Energy Economics and Policy, Econjournals, vol. 8(5), pages 146-154.
    9. Abdul Raziq, Retha Wiesner, 2016. "High Performance Management Practices and Sustainability of SMEs. Evidence from Manufacturing and Services-based Industries in Pakistan," Journal of Management Sciences, Geist Science, Iqra University, Faculty of Business Administration, vol. 3(2), pages 83-107, October.
    10. Ana Maria Santacreu & Michael Sposi & Jing Zhang, 2021. "What Determines State Heterogeneity in Response to US Tariff Changes?," Working Papers 2021-007, Federal Reserve Bank of St. Louis, revised 08 Mar 2023.
    11. Mavisakalyan, Astghik & Tarverdi, Yashar, 2019. "Gender and climate change: Do female parliamentarians make difference?," European Journal of Political Economy, Elsevier, vol. 56(C), pages 151-164.
    12. Amjad, Rashid, 2017. "Remittances and Poverty: A Comparison of Bangladesh and Pakistan, 2000–2016," Bangladesh Development Studies, Bangladesh Institute of Development Studies (BIDS), vol. 40(3-4), pages 75-104, Sep-Dec.
    13. Alan R. Roe, 2018. "Extractive industries and development: Lessons from international experience for Mozambique," WIDER Working Paper Series 56, World Institute for Development Economic Research (UNU-WIDER).
    14. Nida Shah, 2016. "The Impact of Working Capital Management on Firms Profitability in Different Business Cycles: Evidence from Pakistan," Journal of Finance and Economics Research, Geist Science, Iqra University, Faculty of Business Administration, vol. 1(1), pages 58-70, March.
    15. Croke,Kevin & Garcia Mora,Maria Elena & Goldstein,Markus P. & Mensah,Edouard Romeo & O'Sullivan,Michael B., 2020. "Up before Dawn : Experimental Evidence from a Cross-Border Trader Training at the Democratic Republic of Congo?Rwanda Border," Policy Research Working Paper Series 9123, The World Bank.
    16. Kohnert, Dirk, 2019. "Pas de changement en vue : Le développement politique et socio-économique du Togo (2017 - 2019)," AfricArxiv hvrtm, Center for Open Science.
    17. Shantanu Khanna & Deepti Goel & René Morissette, 2016. "Decomposition analysis of earnings inequality in rural India: 2004–2012," IZA Journal of Labor & Development, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 5(1), pages 1-26, December.
    18. Chopra, Vasudha & Das, Sukanya, 2019. "Estimating Willingness to Pay for Wastewater Treatment in New Delhi: Contingent Valuation Approach," Ecology, Economy and Society - the INSEE Journal, Indian Society of Ecological Economics (INSEE), vol. 2(02), July.
    19. Pietrobelli, Carlo, 2019. "Modern industrial policy in Latin America: Lessons from cluster development policies," MERIT Working Papers 2019-031, United Nations University - Maastricht Economic and Social Research Institute on Innovation and Technology (MERIT).
    20. Sudha Narayanan Narayanan & Nicolas Gerber, 2016. "Safety Nets for Food and Nutritional Security in India," FOODSECURE Working papers 37, LEI Wageningen UR.

    More about this item

    Keywords

    Modinomics 1.0; growth strategy; anti-poverty programmes; macro-economic performance; jobless growth;
    All these keywords.

    JEL classification:

    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
    • N15 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - Asia including Middle East
    • N35 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - Asia including Middle East
    • N65 - Economic History - - Manufacturing and Construction - - - Asia including Middle East

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:jinter:v:32:y:2020:i:1:p:12-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.