Narendra Modi: New horizon of large-scale manufacturing.

New Hope, New Financial Horizon.
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Narendra Modi will have to create avenues for investment in large-scale manufacturing

Santosh Tiwari | Financial Express | Dec 12, 2013:: Columbia University professor Arvind Panagariya has been one of the strongest votaries of the Gujarat model of development. In an interview with Santosh Tiwari, Panagariya explains the significance of the outcome of the assembly polls in four states—Delhi, Rajasthan, Madhya Pradesh and Chhattisgarh. He says the primary job of the new government at the Centre would be to formulate a roadmap for boosting investment.

Do you think populist programmes have failed to deliver electorally in view of the results in the recent assembly polls?

Going by the results, especially in Rajasthan where these programmes were tried with great intensity, yes.

But in Chhattisgarh, they seem to have worked for the BJP?

In Chhattisgarh, Raman Singh also provided good governance and his main populist programme, food security, had been in place for some time. So, Rajasthan and Chhattisgarh are not exactly comparable.

So, basically, you mean to say that it has to be populist policies-plus-governance to win an election?

The last-moment gimmicks are not going to help. People are looking for long-term solutions. This is where sustained rapid growth, which is one of the likely outcomes of good governance, becomes important also. The voters now want something concrete and not just promises and last minute goodies.

That way, number of chief ministers have been voted to power a third time in the recent past?

Yes, chief ministers such as Narendra Modi, Nitish Kumar and Naveen Patnaik who have provided good governance and sustained growth have been repeatedly returned to power.

But in Delhi, Sheila Dikshit has not been successful and has been drubbed, particularly by the AAP. What was behind this?

There are several pieces to this puzzle. Delhi is where the Anna Hazare movement flourished. So, there was a large contingent of young voters who were rallying against the Congress but also against the BJP. These voters were very organised and committed to the cause. They ran a highly effective campaign from door-to-door. Perhaps the performance of Sheila Dikshit administration in the last term did not help her either. The allegations emerging out of the CWG scandal hurt her image. Finally, the effective campaign run by Narendra Modi also meant.

Courtesy: The Financial Times.

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Large Scale or Small Scale is not the factor when full bodied Modi Scale will come to monitor 100% development, security and prosperity of the cent percent people of this country. The Modi Mantra is that Savka Sath - Savka Vikash. With Everybody, Development for Everybody.

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Rural poor eye Narendra Modi's promise. Modi storm everywhere including Congress bastion.

In the Gandhi political bastion, rural poor eye Narendra Modi's promise

Friday, Nov 29, 2013, 8:22 IST | Agency: Reuters:: If Sonia Gandhi and her Congress party need evidence that their policies of subsidies and safety nets for India's poor may no longer be enough to keep their support, they need look no further than her own constituency of Rai Bareli.

In the family borough in the northern heartland, which has been loyal to India's most powerful dynasty from the days of first Prime Minister Jawaharal Nehru, voters want electricity, hospitals and roads, more than the cheap food on offer. Such a change of heart threatens to upend the Congress party's central calculation to win next year's election: that poor rural voters who make up the backbone of support will stay loyal because of the big welfare programmes it promotes, including a flagship $21 billion food subsidy scheme. Instead, even in such a bastion of Congress support as Rai Bareli district, opposition leader Narendra Modi's message of growth and investment is gaining ground, despite critics' misgivings about his hardline Hindu nationalist roots and a perceived bias against the nation's minority Muslims.

"We don't need subsidised food ... It's a donation and we don't want that charity," said Arjun Rewal, a farmer in the Rai Bareli hamlet of Shivgarh in the centre of India's most populous state of Uttar Pradesh. "We need hospitals with doctors, we need roads, we need electricity supply and we need someone who can tackle inflation," the 52-year-old said, emphasising his point with a stab of his earth-brown finger. Rewal and the farmers with him, who meet one evening a week in the grounds of an old palace, see Modi as the person who can deliver. "In this area, for the first time, people are talking about another political leader and that is Narendra Modi," he said. Modi has promised quick reforms and an end to a prolonged period of policy paralysis, pointing to the double-digit pace of expansion in the western state of Gujarat that he has governed for three terms.

Uttar Pradesh sends 80 members of parliament to New Delhi, more than any other state. In the last election in 2009, Congress won 21 seats and Modi's Bharatiya Janata Party (BJP) won 10. According to a recent opinion poll by AC Nielsen for the Economic Times, the BJP could win 27 seats in Uttar Pradesh in the next election, due by May, with Congress winning just 12. Rahul Gandi, Nehru's great grandson, looks likely to lead the Congress into the election, but he was generally seen as lacklustre at state election rallies in Uttar Pradesh in 2012.

Click Here>>Complete Reading Courtesy: DNA.

Out of frustration Congress baselessly attacks on Modi and Gujarat: Prakash Javadekar

Congress using wrong data to target Modi: BJP

TNN | NEW DELHI | 29 NOV 2013:: BJP on Thursday attacked the Centre for making "baseless allegations" against the Gujarat government, saying it was using wrong data to defame CM Narendra Modi. 

Sibal had described Gujarat as the most indebted state. 

"Sibal has failed to convince even himself with these figures. He did a lot of data mining but came up with wrong data. He is levelling baseless charges against Gujarat and its chief minister," BJP spokesperson Prakash Javadekar said. 

The law minister had sought to puncture Modi's development claims, saying his Gujarat model was not backed by facts. Sibal released a 32-page document carrying statistics about the state's performance on various paradigms and alleged that Gujarat was the "most indebted state of India".

Javadekar suggested that Sibal should do his "homework" well before levelling such charges. 

"We can understand the Congress frustration and that it is unsettled by the response Modi is getting across the country.  Click Here>>Complete Reading Courtesy: TOI.

In short: Narendra Modi. said, "If Congress had followed development agenda for 60 years then things would be different today!"

Gujarat's debt is only 14 per cent of GSDP figures. Unemployment figure in Gujarat is only seven in 1,000. Agriculture growth has been above 10 per cent for the last decade in the state. It is also the first among states in implementation of the 20-point programme in the last 10 years. Congress should not indulge in hollow criticism. Congress=Corruption=Concoction.

Mad Mama of Tarun Thaelka Tejpal and Central Minister Kapil Sibbal is levelling baseless charges against Gujarat and its chief minister and also the Prime Ministerial candidate Sri Narendra Bhai Modi.

Modi Economy: New Waves for International Business and Finance Forums.

After Goldman Sachs, Nomura now sees Narendra Modi wave. 

NAMO: THE WORLD LEADER FOR ECONOMIC CHANGE

PTI | Mumbai 27  Nov 2013:: Yet another foreign brokerage has said that it expects Narendra Modi-led BJP to come to power after the Lok Sabha elections.

"Nomura expects a BJP-led coalition to form the next government at the Centre after the 2014 elections," political analyst at the Japanese brokerage, Alastair Newton, said in a note dated yesterday.

However, Newton tempered his political forecast saying "a stable government, regardless of whether it is led by the BJP or the Congress, should support a gradual business cycle recovery."

Nomura India chief economist Sonal Verma added, "Once political stability has been established, we believe past investment projects cleared by the Cabinet Committee of Investment could be implemented. This revival will be led by a debottlenecking of existing investment projects."

Nomura is the second multinational brokerage after Wall Street giant Goldman Sachs to come out with an open political statement supporting the candidacy of Modi for the top political job in the country.

Goldman had also said that the recent market rally was driven by the Modi effect and had pegged the Sensex target for December 2013 at 23,000.

The Goldman statement attracted scathing criticism from a number of senior Union ministers who asked them to stick to what they are good and keep off from meddling in the political matters of the country.

Notwithstanding this, ex-Goldman official Jim O'Neill was quoted repeating the Modi theme for the market by a business channel.

Verma of Nomura said political stability and policy credibility are paramount to corporates making long-term investment decisions. This will help the economy witness a gradual recovery after Q3 of 2014.   Click Here>>Complete Reading Courtesy: ET.

Related: Nomura expects Narendra Modi-led BJP to come to power after Lok Sabha elections >>Complete Reading Courtesy: TOI.

New Hope: GOLDEN GUJARAT. GOLDEN BHARAT. GOLDEN GLOBE. MODI IS THE LEADER. Narendra Modi is becoming the Role Model for Coming World Economics. Gujarat is the starting. This Globe is accepting NAMO Finace Strategy.