Not just the stock market… from employment to reform, these challenges will be there in the third term of Modi government

It is almost certain that Narendra Modi, who is currently handling the reins of governance as the caretaker Prime Minister, will become the Prime Minister for the third time. In such a situation, he has many challenges in front of him, apart from giving the message of a stable government to the stock market. Let's know about this...

One thing is clear from the results of the Lok Sabha elections that Narendra Modi is going to return as the Prime Minister with a coalition government in the country. This is also being called Modi 3.0 government. While PM Narendra Modi may have to face many political compulsions due to the coalition, his government will also face some big economic challenges. On one hand there is the issue of employment, on the other hand there is economic reforms. Let us understand about these…

In Modi 3.0, the government will have to give the message to the stock market that this is a stable government. The stock market is not a benchmark of the country's growth or GDP, but it is very useful in creating economic perception. It also shows the country's growing economy. Apart from this, the government has to face many other challenges.

From employment to reform…

In Modi 3.0, the government will have to maintain the country's economic growth. Along with this, the biggest question it has to face is related to generating maximum employment. Apart from this, the government will also have to focus on tax reforms. At the same time, the government will also have to ensure that there is risk management in the stock market and credit market and the risk is kept to a minimum.

According to a report by ET, the priority of Modi 3.0 will depend on 3 things. These are land or related reforms, labour-employment or related reforms and meeting the capital requirement. According to economists, if the government succeeds in working properly on these three parameters, then it will strengthen the economic reforms and also make the country's economy strong.

The emphasis will be on controlling expenses

Another thing is clear that if the government has to strengthen the foundation of economic progress, then it will have to focus on keeping its fiscal deficit under control. Not only this, it will also have to work on reducing the burden of rising debt, increasing capital expenditure, increasing private investment, encouraging agriculture and making consumer-friendly policies, so that demand can be generated in the economy.

A media report quoted former National Statistical Commission chairman Pranab Sen as saying that the first priority of Modi 3.0 should be people's livelihood. The country's rapid economic progress should be welcomed, but it should be ensured that this high progress creates more and more employment and provides a sustainable source of income to a large number of people.