Mohandas Pai said that the Modi government is doing a good job, but a lot more needs to be done.
Highlight
- What PM Modi has done in the last seven years, no previous PM has done: Mohandas Pai
- Pai describes farmers’ protest as a ‘political movement’
- Modi govt should ensure big tax relief for middle class in next budget, Mohsdas Pai tells India TV
Mohandas Pai Exclusive Interview: ‘Acche din naye hai’ (good days are coming) was the slogan that Narendra Modi, then the prime ministerial candidate of the BJP-led NDA, gave back in 2014. Big election promises took Modi from Gujarat to Delhi. It has been seven years since Narendra Modi took over as the Prime Minister and he has taken several steps to revive the country’s sluggish economy. Be it demonetisation, GST or privatization of public sector units, PM Modi’s economic policies have faced strong opposition from the opposition as well as intense scrutiny from subject experts.
in an exclusive interview with India TV, Mohandas Pai, former CFO and board member of Infosys, shared his point of view on the economic and other policies of the Modi government. Here is an excerpt:
‘Acche din’ has arrived or are we still waiting for it. How do you rate?
For whom do we have to understand ‘achche din’ first? We have a large population of poor people who do not even have a house to live in. What PM Modi has done in the last seven years, no other PM has done in the past. The Modi government has so far built 2.50 crore houses for the poor. If the government continues at this speed and builds about 5 crore houses, then more than 25 crore people will get their homes. Similarly, arrangements are being made to provide clean drinking water, electricity, toilets, cooking gas, bank account, education, DBT, ration scheme, health insurance, mobile connection etc. to the people. These necessities of life are now being provided by the government. In all these years, no government has been able to accomplish these things.
Read also: ‘Bring change, otherwise change will happen’: PM Modi reprimands BJP MPs for not going to Parliament
One of the biggest challenges before India was that there was no national market in the country. The government introduced GST which ensured that there is only one tax instead of 17. There has been tremendous improvement in road infrastructure across the country. The pace of business has increased.
Demonetisation helped clean the economy of black money. It broke people’s back with black money. We all know how much corruption there was during UPA 1 and 2. There is no corruption in Delhi anymore. Thousands of new jobs are being created every month.
A large section of experts is of the view that India’s economy is yet to recover from the shock of demonetisation. do you agree?
No I don’t. IMF’s Gita Gopinath has said that the economy suffered for only two quarters due to demonetisation. I speak on the basis of available data. Yes, I agree that the informal sector suffered but after a year the situation improved. Much is being done, but there is still a long way to go. It is absolutely wrong to say that nothing is going well in the country.
Watch the full interview:
Prices of petrol, diesel, other commodities are at all-time high. Isn’t it affecting the economy and purchasing power of Indians?
Yes, it is true…but we also need to understand where did the tax money go? It was used for the benefit of poor people and to build infrastructure. I am sure the prices will stabilize in the next 2-3 months.
A large section of the farmer’s lobby says that the government had to bow before us because it was not talking about our benefit. There is a perception that the government is now on the back foot…
The protesting farmers have no support from Karnataka, Kerala, Tamil Nadu, Maharashtra, Odisha, West Bengal, Nadu Pradesh, Gujarat…they have support from western UP and Punjab. From where were they getting the money to organize such a massive protest? They were trying to establish a political narrative and nothing else. It (protest of farmers) is a political movement.
opinion | How Modi has taken the wind out of opposition parties’ court by repealing agricultural laws
The middle class is disappointed. They believe that the government is using them as a cash cow as they are burdened with heavy taxes with little facilities in return.
this is true. The Narendra Modi government has done very little for the welfare of the middle class. ‘Tax terrorism’ has increased. Tax disputes have doubled from 2014 to 2020. It is necessary that some tax relief should be given to the middle class.
Also judicial reforms are the need of the hour. In the last 60 years, the justice system has seen no change and the government has nothing to address it.
What should all the government do on a priority basis before facing the people again in the 2024 elections?
Firstly, the government needs to execute all those projects which are based on a mission mode. Secondly, give big relief to the middle class in the new budget. Make the middle class feel wanted. Make them feel that they are part of the country and don’t feel neglected, reduce their anger. Third, reform of the justice system. Justice should not depend on which lawyer you know and how much you pay him. Remove the fear of police from the minds of the people. Amit Shah should do his job, I didn’t see any police reforms.
,