Here’s How India’s Economy Is Faring After Four Years Under Modi
- India poised to overtake China as fastest growing economy
- Tide turns against India amid rising crude, Treasury yields
India’s Prime Minister Narendra Modi Has an Oil Problem
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Prime Minister Narendra Modi completes four years in office on May 26. He’s used the time to give India its biggest tax reform, overhauled a century-old bankruptcy law, revived stalled projects and got the World Bank to say Asia’s No. 3 economy is a much better place to do business.
Still, all’s not well with the economy. Once-trusted state-owned banks are facing allegations of fraud, their soured-debt pile is larger than ever, investors are dumping Indian stocks and bonds amid a stronger dollar and U.S. Treasury yields. Foreign direct investment growth appears saturated after accelerating at a healthy pace in the initial three years under his watch.