According to Gallup survey, more number of Indians feel that they are worse off under Modi’s regime than they were three years ago.
This may come as a surprise to many who think that India is the world’s fourth-fastest-growing economy in the world in 2017, according to the Global economic prospects report released by World Bank. Moreover, many international agencies have lifted India’s rank up in terms of few indicators like ‘ease of doing business’ of world bank.
Yet, these reforms did not reach the masses.
According to the news reported in forbes.com, Living Wage Family in India remains almost flat in the 17300-17400 INR/Month range over his tenure. Meanwhile, wages paid to low-skilled labor decreased to 10300 INR/Month in 2017 from 13300 INR/Month in 2014.
Only three percent of Indians consider themselves as thriving under Modi’s government.
The survey says that “India’s largely rural population initially led the decline in life evaluations, with thriving dropping from 14% to 7% between 2014 and 2015, and edging even lower to 4% and 3% in the years after that,” according to Gallup. “Declines among urban Indians have been much more gradual, although they are down in the past year, dropping from 11% to 4%.”
Udayan Roy, an Economics Professor at LIU POST says that “The people had high expectations, and those expectations have not been satisfied. GDP growth is still above 5 percent, but it has slowed down sharply from past rates of 8 and 9 percent.”
He further adds that “There’s this phenomenon of ‘jobless growth.’ India is demographically quite a young nation. And the young people are entering the labor force at too fast a rate compared to job creation. So, these young people are getting frustrated.”
The survey also concluded that “when people see their lives headed in the wrong direction, they want change.”