Comments by "" (@mailtorajrao) on "It’s Indira Gandhi’s 1974 in India again, but Modi faces a harsh new reality" video.

  1. @PRINT / SG Good information included in drawing the 1974 parallel! it would be great if some references were given for further reading. To get a sense of the current moment, I recently read Manmohan' Singh's 1991 budget speech & World bank's Nov 1991 USD 250 MM "structural adjustment" loan to India recommendation to it's EDs documents. To cut a long story short, while the situation today is probably not as bad in some respects (record FX reserves), it is certainly perilously poised on a precipice. If PM Modi wants to get back in power in the 2024, he has to bite the bullet NOW. At risk of being presumptuous - Do whatever is required to shore up non-governmental spend, cut back populist govt spend --> absorb the public ire of higher inflation, PSU job losses etc and hope that things will get back on track in 2-3 years (Most certainly PM Modi/BJP will lose states in this period). He would then have about a year or so to win back love and the national election. Else he/BJP will lose all of it is my humble opinion, FWIW.
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