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Not just the stock market…from employment to reforms, these will be the challenges in the third term of the Modi government.

Sagar Patel

By Sagar Patel

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Narendra Modi will be eligible to become prime minister for the third time on June 9.Image credit source: Stock Photo

From the results after the Lok Sabha elections, it is clear that Narendra Modi will return as Prime Minister with a coalition government in the country. This is also called Modi 3.0 government. While Prime Minister Narendra Modi may have to face many political constraints due to the alliance, now his government will also face major economic challenges. In this, on the one hand we talk about employment and on the other we talk about economic reforms. Let’s understand about them…

In Modi 3.0, the government will have to give a message to the stock market that this is a stable government. The stock market is not a standard of the country’s growth or GDP, but it is very useful in creating economic perception. This also shows the strengthening of the country’s economy. Apart from this, the government has to face many more challenges.

From employment to reform…

In Modi 3.0, the government will have to maintain the economic growth of the country. Along with this, the biggest issue that must be faced is related to the generation of maximum employment. Apart from this, the government will also have to pay attention to tax reforms. The government will also have to ensure that there is risk management in the stock and credit market and that risk is kept to a minimum.

According to an ET news, the priority of Modi 3.0 will depend on 3 things. These are land or its related improvements, work-employment or its related improvements and satisfaction of capital needs. According to economists, if the government manages to work properly on these three parameters, it will strengthen economic reforms and also strengthen the country’s economy.

Emphasis will be placed on cost control

One other thing is clear: if the government wants to strengthen the foundations of economic progress, it will have to focus on keeping its fiscal deficit under control. Not only this, work will also have to be done to reduce the growing debt burden, increase capital expenditure, increase private investment, encourage agriculture and formulate consumer-friendly policies so that demand can be generated in the economy.

Citing Pranab Sen, former chairman of the National Statistical Commission, a media report said that the first priority of Modi 3.0 should be people’s livelihood. The country’s rapid economic progress should be welcomed, but care must be taken that this high progress generates maximum employment and provides a sustainable source of income to a large number of people.

Sagar Patel

Sagar Patel

I am Sagar Patel, specializing in business news reporting. With a keen focus on economic trends, market analysis, and corporate developments,

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