I presume policies driven by market driven economics is going to throw up a huge challenge for the common public in rural and semi urban places in the days to come . The buzzword Achae Din by Modi would be felt by few , but rest of the common people or majority would get marginalized and will be left out in the open to find solace in what ever little govt doles out., only thing they can keep doing is to pin their hopes on periods just before next election get announced . But statics on social sector spending on various ministries has come down drastically from 2014-15 to Current FY. We as country still has a miles to travel , more to achieve, for that emphasis on social sector investments should be the primary motive , than any other investments, But present dispensation under Modi is pushing this sector even to territory level. Govt after govt In india post liberalization puts this sector as an embellishment to create hopes in the mind of the millions to grab their attention in the days before election. But attention towards this sector is steadily declining, Barring few states in India rest of the states spends less on social sector , Funds earmarked to spend for this sector either gets lapsed or gets diverted to some other areas. Most often in discussion about the economy and its growth pattern , we have certain figures like inflation, GDP and stock market to justify that we are progressing. But these figures are not permanent, but it is just a superficial indicator to prove and convince the numbers to the FIIS and FDI to put their money to investment in India . Present govt under authoritarian Modi has skipped intentionally or forget the importance of this sector, Modi phrased new things like Made in India, Skills development and many more such punch lines are going to come from his mouth , But experiences says most of the announcements would be followed with less action on the ground. The biggest & less promising one is the dismantling of planning commission and replaced with Nithi ayog , which have not even chaired a single meeting till now, for this govt every bucks stops at PMOs office, Even the ministries under Modi has no right to function independently.
The allocations to social sector spending shows very worrying trend .
The steady decline in allocation towards women& child Development, Drinking water , sanitation is an alarming situation , without which we cannot even think of becoming a developed nation. The rudimentary basics of economic growth is investment in human capital, the systems should deliver nutritious food, better sanitation , access to drinking water, But it seems that priority of the Govt towards these sectors lacks conviction and purpose. Here govt is in a hurry to rein in fiscal deficit by inducing a cut in spending for social sector , More sops and favoritism shown in reducing the corporate tax from 30 to 25% is and adamant to choose the ordinance route to pass the land acquisition bill, Modi and Co smartly puts the responsibility on the shoulders of the state govt to spend on social development. Baring few states in India most of them are in bad fiscal shape, We as a nation needs to get this basic right before shifting to next level of developmental reforms.