Modi's Reforms Spur India's Economy, But Job Growth Lags
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India's economy has grown at an average annual rate of 7.6% under Modi, beating most forecasts, although growth per capita has been slower than under the previous PM Singh.
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Modi has made progress on formalizing the economy and improving the ease of doing business, through reforms like demonetization, digital ID, and a national GST.
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Job creation has been disappointing, but poverty has fallen due to increased welfare payments digitally transferred to the poor.
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Manufacturing and exports have not seen major boosts yet from Modi’s policies.
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Private investment stagnated through much of Modi’s tenure but now appears to be recovering, suggesting potential for higher growth ahead.