Jobs or Unemployment? What to expect from MODI 2.0 !

As Mr. Narendra Modi is set to brace his second term as the Prime minister of India with a whopping 353 seats ( BJP : 302 , NDA : 353) in the recently concluded election, big economic hurdles awaits him.With more than 50% of the population being youth the country bets big on MODI 2.0 for the creation of job but can we really expect a quick solution? 

• What's the story?

Employment has been a very huge problem because a report by the NSSO shows that unemployment in India has been at 45 year an all time high of 6.1% since the Modi's demonetisation move.
With this second term of Modi government India is trying to find an escape from unemployment. As per expectations and sources the new government will consider a clutch of proposals over the next 100 days to complete unfinished goals of fine-tuning reforms.

Here is what to expect,

1. Economic Growth

With the finance ministry prepared agenda the govt. will try to push the slipped 6.6 % economic growth higher as in its manifesto BJP promised to turn India into a $5 trillion economy by 2025 and emphasised its promise to double farm income by 2022.

2. Simplified GST

The government is expected to simplify GST by doing away with the two top rates of 18% and 28%. GST tax slabs could be merged into two main rates from four at present. 

3. Income Tax Reform

In 2017, the Modi government formed a task force to draft a new direct tax legislation or code to replace the existing 50-year-old Income Tax Act. 
The task force was scheduled to submit its report by February 28, 2019. However, the deadline was extended by three months to May 31. So, it is likely that the Modi government may replace the existing Income Tax Act. 

4. Boost in Indian Software Industry

India’s digital progress is on the forefront of Modi’s agenda for 2019.Business Standard reports that the NDA government is looking to boost Indian software and tech start-ups by 2025 through the National Policy on Software Products. The NDA wants to create employment in tech start-ups by establishing a pool of prospective IT professionals and students.BS adds that the government also wants to push for more infrastructure and research and development initiatives. To tie up all the loose ends, the NDA said it will monitor the progress of these programmes through the National Software products Mission.

5. Student welfare  

The re-elected Modi government has plans to unveil a new national education policy, a drive to fill 5 lakh vacant faculty positions in higher education, and add of 10 Institutions of Eminence (IoE) to the existing sanctioned strength of 20. IoEs are expected to break into the international top 100 club of academic institutions.

The HRD Ministry will also unveil a five-year vision document covering themes such as access, quality, excellence, governance systems, research and innovation, employability, accreditation processes, use of technology for education, internationalisation and financing the higher education. 

6. Health and Medication 

Over the first three months of a second term, earned with a resounding margin, the Narendra Modi government may surprise patients with more affordable medicines as well as cheap blood tests. 

7. Push In exports

Indian government is expected to have a strategy to cut off its trade deficit with a detailed sector wise strategy. It is also likely that the govt. will push its exports of its farms and pharmas to China by accessing their markets and will also convince foreign companies to shift their manufacturing base from China to India in the wake of the trade war between the US and China. 

• What is next?  

With high hopes we are all waiting to see how things take shape. While PM-KISAN , Chandrayaan 2 and other major projects are already in virtue of reality, nation's reaction on these will highly impact further developments. Let us know what do you think how MODI 2.0 will do and what are your expectations in the comment section below.