00:00Let me bring you my take today. Let me bring you the biggest achievements and failures of
00:05the Modi government as I see it. First, the achievements, the five big achievements according
00:09to me, the welfare delivery revolution, direct benefit transfers, jandhan accounts, digital
00:15infrastructure have dramatically reduced leakages, expanded state capacity. Number two, the
00:22infrastructure push in the last 12 years, roads, railways, airports, public capital expenditure
00:29has been scaled up dramatically. Number three, inflation has remained mostly under control
00:37through the last decade, benefiting, of course, through much of this period from low oil prices.
00:43The government also has embarked on important reforms in the power and banking sector, for
00:49example. Number four, the digital transformation. The UPI and the wider India stack started in
00:57the Congress-UPA era, but India has moved ahead under Modi's leadership to become a global leader
01:05in digital public infrastructure. The fifth achievement, political stability and decisive leadership
01:12in times of uncertainty. The BJP under Modi has ended the era of coalition fragility, provided
01:20in that sense, a strong government at the centre. Let's now take a look at the five big failings.
01:28Jobs deficit and tepid private investment. Economic growth has not consistently translated into sufficient
01:37quality employment, especially for young Indians. And private investment has not picked up amidst
01:44charges of cronyism, over-bureaucratization and regulatory issues that a number of businessmen
01:51have faced. Failing number two, social polarization. Whether it is religious and community division,
02:01the fact is, despite the slogans they have deepened on the ground, raising concerns about social cohesion
02:08and constitutional values, the BJP doesn't have a single Muslim MP, for example, in its parliamentary
02:15in the Lok Sabha. Number three weakness, institutional weakening. The fact is, parliament, the federalism,
02:24independent institutions and even the media have become increasingly, or sections of the media
02:30have become increasingly subordinate to executive power. Failing number four, agrarian rural distress.
02:38Despite welfare support, farm incomes have not got doubled as promised, and rural demand remains in many areas
02:46an area of persistent concern. And number five, the centralization of power. What is also seen as an asset
02:55is a weakness. The concentration of power around the Prime Minister's office has reduced internal debate
03:02within government and party structures, weakened ministerial responsibility. This, coupled with weaponization
03:08of agencies, normalization of sam-dam-dandal-bhet politics, has led, according to many, to a democratic
03:16deficit, especially of our institutions. So you have the positives and the negatives. But I just want to say
03:25one thing. Let's not compare Modi ji with also Jawala Nehru. They're 50 years apart. Let's judge each
03:32Prime Minister for the times in which they have lived and the different challenges they have faced.
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