TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    AAP’s Anarchic Politics Embarrasses India on Global Stage: MEA condemns Mann's remarks

    AAP’s Anarchic Politics Embarrasses India on Global Stage: MEA Disowns Punjab CM’s Remarks

    Jamiat Moves Court, Delhi HC Stays : Is ‘Udaipur Files’ Too Real to Handle?

    Jamiat Moves Court, Delhi HC Stays : Is ‘Udaipur Files’ Too Real to Handle?

    Mamata's Misplaced Outrage: Bengal Burns While She Cries for Delhi

    Mamata’s Misplaced Outrage: Bengal Burns While She Cries for Delhi

    Pakistani Cousin Marriages Flood UK with Birth Defects

    Pakistani Cousin Marriages Flood UK with Birth Defects, 3% Community Blamed for 33% Cases

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India's Global Digital Clout

    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India’s Global Digital Clout

    Opportunities for Youth in a Changing India

    Opportunities for Youth in a Changing India: Global Investment Expert Manu Seth Shares Insights

    Simple Legal Steps to Protect Your Brand in India

    Simple Legal Steps to Protect Your Brand in India

    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Decoy That Changed the Game: How India's AI-Powered X-Guard Neutralised Pakistani Air Threats

    Rafale Decoy Confused Pakistan Jets During Operation Sindoor, Claims US Veteran Pilot

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR, Boosting Navy’s Underwater Capabilities

    Gun-Making Racket Exposed in Aligarh: UP STF Arrests 3

    Gun-Making Factory Busted in Aligarh: UP STF Arrests 3

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife, Asks Him to Wait Till She’s 9

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Russia’s Plan to Hire 1 Million Indian Workers in 2025: What It Means

    Russia’s Plan to Hire 1 Million Indian Workers in 2025: What It Means

    Modi's Vision Echoes in Namibia

    PM Modi Sets Record With 17th Parliament Speech Abroad, Applauded in Namibia

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: UP Gears Up With Full-Scale Arrangements

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Prakash Raj, Vijay Deverakonda among other Tollywood actors booked for promoting illegal betting apps

    Prakash Raj, Deverakonda, Rana Booked by ED in Betting Scam Case

    Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    Fasting This Sawan 2025? Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    say no to alcohol for 6 months

    How Quitting Alcohol for 6 Months Can Transform Your Health

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    AAP’s Anarchic Politics Embarrasses India on Global Stage: MEA condemns Mann's remarks

    AAP’s Anarchic Politics Embarrasses India on Global Stage: MEA Disowns Punjab CM’s Remarks

    Jamiat Moves Court, Delhi HC Stays : Is ‘Udaipur Files’ Too Real to Handle?

    Jamiat Moves Court, Delhi HC Stays : Is ‘Udaipur Files’ Too Real to Handle?

    Mamata's Misplaced Outrage: Bengal Burns While She Cries for Delhi

    Mamata’s Misplaced Outrage: Bengal Burns While She Cries for Delhi

    Pakistani Cousin Marriages Flood UK with Birth Defects

    Pakistani Cousin Marriages Flood UK with Birth Defects, 3% Community Blamed for 33% Cases

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India's Global Digital Clout

    Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India’s Global Digital Clout

    Opportunities for Youth in a Changing India

    Opportunities for Youth in a Changing India: Global Investment Expert Manu Seth Shares Insights

    Simple Legal Steps to Protect Your Brand in India

    Simple Legal Steps to Protect Your Brand in India

    Indian-Origin Tesla CFO Vaibhav Taneja Appointed Treasurer of Elon Musk’s 'America Party'

    Indian-Origin Tesla CFO Vaibhav Taneja Selected Treasurer of Elon Musk’s ‘America Party’

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Decoy That Changed the Game: How India's AI-Powered X-Guard Neutralised Pakistani Air Threats

    Rafale Decoy Confused Pakistan Jets During Operation Sindoor, Claims US Veteran Pilot

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR

    India Successfully Tests Indigenous Anti-Submarine Rocket ERASR, Boosting Navy’s Underwater Capabilities

    Gun-Making Racket Exposed in Aligarh: UP STF Arrests 3

    Gun-Making Factory Busted in Aligarh: UP STF Arrests 3

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife

    Taliban Blocks 45-Year-Old Man from Taking 6-Year-Old Wife, Asks Him to Wait Till She’s 9

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    4 Chinese Nationals Arrested for Spying on Rafale Jets in Greece

    Russia’s Plan to Hire 1 Million Indian Workers in 2025: What It Means

    Russia’s Plan to Hire 1 Million Indian Workers in 2025: What It Means

    Modi's Vision Echoes in Namibia

    PM Modi Sets Record With 17th Parliament Speech Abroad, Applauded in Namibia

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    Tirumala Tirupati Devasthanams Suspends Senior Official for Attending Church Services

    The Beginning of Devotion: History of the First Kanwar Yatra

    The Beginning of Devotion: History of the First Kanwar Yatra 

    Kanwar Yatra: UP Gears Up With Full-Scale Arrangements

    Kanwar Yatra: Four Devotional Paths, One Divine Destination

    char dham yatra suspended due to bad weather

    Uttarakhand Suspends Char Dham Yatra Due to Adverse Weather, Prioritizes Pilgrim Safety

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Prakash Raj, Vijay Deverakonda among other Tollywood actors booked for promoting illegal betting apps

    Prakash Raj, Deverakonda, Rana Booked by ED in Betting Scam Case

    Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    Fasting This Sawan 2025? Try These 6 High-Protein Vrat-Friendly Foods to Stay Energised

    say no to alcohol for 6 months

    How Quitting Alcohol for 6 Months Can Transform Your Health

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    Mental Wellness Rituals to Stay Calm, Focused, and Balanced

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Macroeconomic indicators in good shape as the Modi government prepares to present the interim budget

Akshay Narang by Akshay Narang
1 February 2019
in Analysis
micro economic, modi government

(pc: indianexpress)

Share on FacebookShare on X

The Modi government came to power in 2014 is in its last phase. At this juncture, one ought to make an analysis of the macroeconomic indicators in order to understand the true position of the Indian Economy. As it would be made amply clear over the course of this detailed analysis that the economy was in miserable shape when the NDA government came to power in 2014. The previous finance minister, P. Chidambaram had left behind a tough task for the current finance minister, Jaitley. But it seems that the present government in general and the finance minister in particular has tackled that task in an adroit manner.

Starting with the most obvious macroeconomic indicators, i.e. the GDP growth rate, it stood at a meager 4.7 per cent in 2013-14. In fact, it was for the second year in a row that the Indian economy recorded a subdued economic growth of less than 5 per cent. Despite the opposition’s propaganda, it cannot be denied that under the Modi government the Indian economy has recovered in an unprecedented manner. GDP growth rates for 2017-18 have been estimated at 7.2 per cent. Today, India is the fastest growing economy among all the major economies of the world. One cannot help but laud the way in which the Modi government came at the helm of affairs, took over an economy with a sluggish growth rate and is now about to end its tenure with an impressive GDP growth rate.

RelatedPosts

Crisil Forecasts Another Rate Cut in FY26, Pegs India’s GDP Growth at 6.5%

India’s economy to grow by 6.3 pc in 2025, 6.4 pc in 2026 as global growth slows: OECD

Retail Inflation Falls to Lowest Since 2019 at 3.34%, Driven by Cheaper Food

Load More

Another macroeconomic indicator that stands testimony to the masterful management of the Indian economy under the present government is the fiscal deficit. In the 2014 interim budget presented by the then finance minister, Chidambaram, the fiscal deficit stood at 4.6 percent of the GDP in 2013/14. It must be noted here that Chidambaram had made the job for his successor to keep the fiscal deficit under control exceedingly difficult. Siddhartha Sanyal, who was the Chief India Economist at Barclays at that time had said, “Lower plan expenditure, which accounts for 30 to 35 per cent of the governments overall spending, will have a direct impact on economic growth, future tax collections and fiscal deficit targets.” He had added, “the cut in plan expenditure cant be continued like this.” Thus, with the help of a cut in plan expenditure, Chidambaram had managed to keep the fiscal deficit in control. However, the fiscal deficit was contained in a very superficial manner. This created a very tough situation to manage for Chidambaram’s successor. Despite this, the Modi government has been able to keep fiscal deficit under control throughout its tenure. For 2017-18, the government was able to meet its fiscal deficit target of 3.5 per cent.

Similarly, the Modi government inherited an undesirable inflation rate from the UPA government. While the WPI inflation had stood at 5.2 per cent, CPI inflation was recorded at 9.4 per cent for 2013-14. Inflation is substantially under control under the Modi government. While the CPI inflation today stands at 2.19%, WPI inflation has been recorded at 3.8 per cent.

The foreign exchange reserves have also witnessed a sharp rise under the present dispensation. As of March 28, 2014, the foreign exchange reserves stood at US$ 303.67 billion. As compared to the said position, the foreign exchange reserves stood at $393.287 billion as on December 28, 2018.

A particular challenge that India has been facing for several decades is a low tax to GDP ratio especially when compared to other major economies. Tax to GDP ratio stood at an appallingly low level in 2014. However, with a slew of reforms under the present dispensation, things are changing. Currently, the tax to GDP ratio stands at 17.82 per cent which is indeed a phenomenal achievement. In fact, the direct tax to GDP ratio stands at a 10 year high of 5.98 per cent. This is a major breakthrough for the Modi government visible clearly through macroeconomic indicators . And as per the Tax experts, there are four major reasons behind the exponential rise of the tax to GDP ratio. “Effect of demonetization, proper use of digitally collected information by the tax department, fewer cases of scrutiny, and ease of refunds may be the top four reasons from higher tax collections,” said SP Singh, Partner at Deloitte India. As per the Income Tax data, corporate tax collection registered a 55 percent jump while individual tax collection witnessed 26 percent rise in the last three financial years. Corporate tax collection rose from Rs 32.28 lakh crore to Rs 49.95 lakh and individual tax jumped to Rs 58,576 lakh crore from the previous Rs 46,377 lakh crore. The Modi government has focused on a long neglected area. It has tried widening the tax base in order to strengthen the basics of the Indian economy. If the steady increase in the tax to GDP ratio continues, it will indeed turn out to be a monumental reform for the Indian economy.

Therefore, on a detailed analysis of all major macroeconomic indicators, one can easily observe that the Modi government has been phenomenal in not only taking the Indian ecnomomy out of the miserable situation that it had been left in by the UPA government, but also strengthening the basics of the Indian economy. When the UPA government had ended its 10 year rule in India, the economy was almost in total disarray. What the Modi government has, therefore, managed is nothing less than an unbelievable turnaround.

Tags: Indian EconomyInflationModi governmentP Chidamabaram
Share1222TweetSend
Previous Post

Big Breaking News: Budget 2019 is massive, 3 lakh crore rupees allocated for the Indian Army

Next Post

Rahul suffers from “personality problems” of an emotional or psychological nature: WikiLeaks Cable

Related Posts

Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India's Global Digital Clout
Analysis

Namibia Bets on Indian Tech: How UPI Will Revolutionise Its Economy and Boost India’s Global Digital Clout

10 July 2025

Namibia is poised to enter the next phase of its digital revolution by partnering with India to launch a...

DMK’s Lifeline Back? Maran Brothers’ Feud Ends With Stalin’s ₹800 Crore Peace Deal
Analysis

Behind the Maran Patch-Up: Stalin’s Desperate Bid to Protect DMK Ahead of TN Polls

10 July 2025

Tamil Nadu Chief Minister MK Stalin appears to have played peacemaker in a high-voltage family feud that threatened to...

Siddaramaiah Spins Conspiracy Despite Health Ministry Rebuttal
Analysis

Vaccine Blame Game? Siddaramaiah Spins Conspiracy Despite Health Ministry Rebuttal

4 July 2025

In a political atmosphere already tense due to factionalism within the Karnataka Congress, Chief Minister Siddaramaiah's recent remarks on...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Hindu girl r@ped, burned with cigarettes and forced to convert to Islam

Hindu girl r@ped, burned with cigarettes and forced to convert to Islam

00:03:31

Delhi’s Trump Card: Kejriwal Wants a Nobel for Surviving Politics

00:05:03

Team B of DMK? The Truth About Actor Vijay’s Party

00:07:45

Rs 15,000 cr gone? Saif Ali Khan's crown crushed by enemy property law

00:04:40

Siddaramaiah Sparks Vaccine Theory to Hide Congress Chaos?

00:09:21
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY. FOR MORE QUERIES AND NEWS, CONTACT US AT info@mashablepartners.com


©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited