Economic policy of the Narendra Modi government

The economic policies of the Narendra Modi government, also known as Modinomics, focused on privatization and liberalization of the economy, based on a neoliberal framework.[1][2] Modi liberalized India's foreign direct investment policies, allowing more foreign investment in several industries, including in defense and the railways.[3][4][5] Modi liberalised India's foreign direct investment policies, allowing more foreign investment in several industries, including defence and railways Other proposed reforms included making the forming of unions more difficult for workers, and making recruitment and dismissal easier for employers. In 2021–22, the foreign direct investment (FDI) in India was $82 billion. India's gross domestic savings rate stood at 29.3% of GDP in 2022.[6]

  1. ^ Ruparelia, Sanjay (12 January 2016). "'Minimum Government, Maximum Governance': The Restructuring of Power in Modi's India". Journal of South Asian Studies. 38 (4): 755–775. doi:10.1080/00856401.2015.1089974. ISSN 0085-6401. S2CID 155182560.
  2. ^ Shah, Alpa; Lerche, Jens (10 October 2015). "India's Democracy: Illusion of Inclusion". Economic & Political Weekly. 50 (41): 33–36. Archived from the original on 28 March 2023. Retrieved 23 October 2021.
  3. ^ Miglani, Sanjeev; Das, Krishna N. (10 November 2015). "India frees up foreign investment in 15 major sectors". Reuters India. Archived from the original on 11 June 2016. Retrieved 10 October 2017.
  4. ^ "Cabinet approves raising FDI cap in defence to 49 per cent, opens up railways". The Economic Times. 7 August 2014. Archived from the original on 17 October 2021. Retrieved 17 October 2021.
  5. ^ Zhong, Raymond (20 November 2014). "Modi Presses Reform for India—But Is it Enough?". The Wall Street Journal. Archived from the original on 29 March 2016. Retrieved 17 October 2021.
  6. ^ "Reserve Bank of India – Publications". Reserve Bank of India. Archived from the original on 8 July 2022. Retrieved 8 July 2022.