Taking Stock of Modinomics: India's Economic Course One Year Later

To keep India's economy growing, Modi needs to embrace even more far-reaching reforms.

It was announced recently that India's economic growth had climbed to 7.3 percent in the fiscal year that ended in March. After some economic setbacks in previous years, India has become "a bright spot" on an otherwise fairly "cloudy global horizon" as the International Monetary Fund's head, Christine Lagarde, put it. For India's Prime Minister Narendra Modi, who was sworn in just over one year ago, this is excellent news. Modi campaigned on an economic platform and promised to turn India's then-ailing economy around. More specifically, Modi cast himself as a business-oriented alternative to the socialist-leaning Congress party....

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