How PM Narendra Modi’s calibrated approach has helped turn around Indian economy
With more than 130 crore vaccine doses administered till date, with over 50 percent of the eligible population getting both the jabs and 85 percent getting at least a single jab, the Modi government’s response strategy to the COVID-19 pandemic has worked effectively despite rampant vaccine hesitancy that was propagated by a decrepit Opposition. Needless to add, the fast-paced vaccine drive has, in turn, spearheaded the ensuing economic momentum, with a focus on capital expenditure. Once the lockdown was eased, the expenditure policy of the Central government was geared towards higher capital spending and rightfully so. The government budgeted a 34.5 percent rise year-on-year, in capex, to Rs 5.54 lakh crore for the current financial year, 2021-22. Large-scale fiscal spending by the government could have triggered inflationary concerns and nullified the impact of an easy monetary policy that has been in vogue now, for well over two years. Hence, in a smart move, the Modi government, d