As Prime Minister Narendra Modi completes 12 years in office, a balanced assessment reveals both significant achievements and persistent challenges. The direct benefit transfer (DBT) model, built on the J-A-M trinity (Jan Dhan, Aadhaar, Mobile), stands out as the government’s biggest accomplishment. This system has streamlined welfare delivery, reduced leakages, and ensured that subsidies reach intended beneficiaries. Similarly, the massive expansion of the Unified Payments Interface (UPI) has transformed digital payments, making financial transactions easier for millions of Indians.
Celebrating Successes
The DBT framework has been widely praised for its efficiency and transparency. By linking bank accounts with Aadhaar and mobile numbers, the government has been able to transfer subsidies directly to citizens, cutting out middlemen and corruption. UPI, meanwhile, has become a global benchmark for digital payment systems, with billions of transactions processed monthly. These innovations have enhanced financial inclusion and boosted the digital economy.
Economic Challenges Persist
However, past policy blunders cannot be ignored. The demonetisation exercise in 2016, which invalidated 86% of the currency in circulation, caused widespread disruption and economic slowdown. While the government defended it as a move against black money, the long-term benefits remain debatable. Today, the economy faces headwinds including slowing growth, unemployment, and inflationary pressures. Agricultural distress and rural inequality continue to be pressing issues.
Moreover, the government’s handling of the COVID-19 pandemic, while initially praised for a strict lockdown, later faced criticism over vaccine distribution and economic relief measures. The recovery has been uneven, with small businesses and informal workers still struggling.
Looking Ahead
As India approaches the next general election, the Modi government must address these economic challenges while building on its digital and welfare achievements. The coming years will test whether the administration can sustain its reform momentum and deliver inclusive growth. For now, there is a little to celebrate but a lot to contemplate.
