India losing momentum of much-hyped economic growth, warn experts
New Delhi: Economic experts have warned that India’s much-hyped economic growth under Narendra Modi is losing momentum, exposing deep structural weaknesses despite the Bharatiya Janata Party (BJP)’s rhetoric of economic success.
According to Kashmir Media Service, with growth projected to slow to 6.4% in FY 2024-25—the lowest in four years—fiscal mismanagement, declining investments, and weakening demand have cast serious doubts on Modi’s economic policies.
According to economists, while Modi’s government boasts of economic expansion, real wages remain stagnant, and agricultural incomes continue to shrink, triggering mass protests by farmers in Punjab and Haryana.
The rupee has depreciated by 3% against the US dollar, and foreign reserves have plunged by $65 billion, reflecting growing investor distrust. Youth unemployment has reached alarming levels, with 46% of people aged 20-24 jobless.
Meanwhile, small businesses suffer as Modi’s favored industrialists, including Adani, monopolize government-backed deals.
Experts argue that without major structural reforms, India’s economy will remain trapped in rising inequality, slowing industrial growth, and empty nationalist slogans.
