Modi"s Failure To Meet Self Imposed Deadline Damages Credibility

Economy Majed Mohsen
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Indian prime minister Narendra Modi made headlines by setting a 50 day deadline to restore the necessary order to India’s economy and reduce the level of hardship experienced by citizens who were adversely effected by the chaos that was directly caused by his currency ban.

Promising everyone that the problems would be over by December 30, Modi attempted to provide reassurance, but unfortunately for the embattled prime minister, he was unable to live up to his words. The devastation that has been caused by his demonetization policies have continued to wreak havoc on the proletariat class.

His failure to produce the results he has promised will only serve to damage his credibility, although the totality of the long term fallout remains to be seen. He maintains a strong level of public support in the interim and the fractured Indian opposition has yet to mount a significant backlash against him.

However, this does not guarantee him victory at the upcoming state elections and he will face increasingly stiff political opposition along the way. If he cannot prove to voters that his presence is causing the country to gain, he stands a very good chance of losing his position.

Arun Jaitley, India’s finance minister, says the availability of currency is slated to improve in the weeks to come, but economists have advised citizens that it could take months for the situation to fully stabilize. If these hardships are not addressed in a timely manner, it will be difficult to expect people not to respond in an adverse fashion.