India: from M. Singhs Reform to Economic Policy of N. Modi

DOI: 10.20542/0131-2227-2020-64-5-118-123
Ya. Sadovnikova (,
Primakov National Research Institute of World Economy and International Relations, Russian Academy of Sciences (IMEMO), 23, Profsoyuznaya Str., Moscow, 117997, Russian Federation


In consequence of the 1991 economic reform, India has become one of the world’s fastest growing economies and evolved into a new center of attraction regionally and globally. Meanwhile, the postreform development model has accumulated a lot of constraints, particularly a high percentage of the people living below poverty line and exacerbation of regional disparities. These unresolved problems hamper geopolitical and geoeconomic aspirations of the country. The architects of reforms have ever emphasized the need to accompany high economic growth by more equitable distribution of income among the general population. This means that economic reforms must be provided with appropriate changes of political institutions reflecting cooperative nature of “centre–state relations”. In 2014, Bharatiya Janata Party was able to perceive an urgent request of the Indian society for changes. The government primary tasks emanated from progressive trends of socio-economic and political development were as follows: firstly, to strength the infrastructure; secondly, to attract the foreign direct investments; thirdly, to attain the financial inclusion of the people; fourthly, to create an enabling business environment; and fifthly, to encourage the manufacturing sector. Despite the ongoing efforts improvement in the agricultural sector, some Indian states continue to be shaken by farmers’ protests. In that way the farmers appeal to the authorities to intensify the implementation of a comprehensive problem solution in the farm sector. It was suggested that this theme will be one of the key issues of the BJP’s strategy plan in a pre-election phase. The article points out that under present-day conditions, transformation development model includes the continuation of economic reforms initiated in the early 1990s. The author reveals that the main intention of the transformative development strategy after the 1991 reform was to engage the most vulnerable (in economic and social regard) population groups and sections as well as backward states in economic growth. The article also examines the initiatives of Narendra Modi’s government and their results attained in terms of strengthening the socio-economic integration.


India, “M. Singh’s reform”, “centre–state relations”, Narendra Modi, regional disparities, development strategy


1. Budget 1991–1992 Speech of Shri Manmohan Singh Minister of Finance. 24th July 1991. Available at: (accessed 03.01.2018).

2. Mishra S.N., Mishra S., Pal Ch. Decentralised Planning and Panchayati Raj Institutions. New Delhi, Mittal Publications, 2000. 191 p.

3. Election ommission of India. “General elections, 2014 (16th Lok Sabha)”. Available at: (accessed 12.03.2018).

4. NITI Aayog. About the Aspirational Districts Programme. Available at: (accessed 17.01.2019).

5. India’s Doing Business Achievements. Report 2018. Government of India. Ministry of Commerce and Industry. Department of Industrial Policy and Promotion. Available at:‑2018-highlights (accessed 18.07.2018).

6. An Overview of India’s Economic Performance in 2017–2018. Chapter 1. Available at: (accessed 18.07.2018).

7. PM ‘Jan Dhan’ Yojana Launched; 1.5 Crore Bank Accounts Opened in a Day. Economic Times, 2014. Available at: (accessed 14.05.2018).

8. More than 30 Crore Accounts Opened under Pradhan Mantri Jan Dhan Yojana. Press Information Bureau. 20.12.2017. Available at: (accessed 14.05.2018).

9. GST to Boost GDP by 2%, Attract Foreign Investors: Industry Leaders. Business-standard, 2016. Available at:‑2-attract-foreign-investors-industryleaders‑116080401042_1.html (accessed 15.05.2018).

10. Panicker R.S. “I Doubted GST as Chief Minister”: PM Modi Answers Critics. NDTV, 2016. Available at:‑1441730 (accessed 14.07.2018).

11. Bank Recapitalisation Plan “Monumental Step Forward”: Urjit Patel. NDTV, 2017. Available at:‑1766905 (accessed 14.05.2018).

12. SBI to See Consolidation Gains in 2–3 Years. The New Indian Express, 2018. Available at:‑2-3-years‑1897435.html (accessed 17.01.2019).

13. The Government Logic behind the Proposed Merger of Three Banks. Economic Times, 2018. Available at: (accessed 16.01.2019).

14. Cabinet Agrees to Merge PSU Banks after SBI Consolidation, Appoints Panel to Supervise. Business Today, 2017. Available at: (accessed 16.01.2019).

15. Union Cabinet Approves Proposal to Hike MSP by 50 Per Cent for 14 Crops for Kharif Season. The New Indian Express, 2018. Available at:‑50-per-cent-for‑14-crops-for-kharif-season‑1838072.html (accessed 18.07.2018).

16. Shukla A. NITI Aayog Fears Increase in MSP May Add to Inflation. The New Indian Express, 2018. Available at:‑1800237.html (accessed 18.07.2018).

Registered in System SCIENCE INDEX

For citation:
Sadovnikova Y. India: from M. Singhs Reform to Economic Policy of N. Modi. Mirovaya ekonomika i mezhdunarodnye otnosheniya, 2020, vol. 64, No 5, pp. 118-123.

Comments (0)

No comments

Add comment

Current Issue
2022, vol. 66, No. 1

Topical Themes of the Issue:

  • The Chinese Phenomenon of Economic Growth 
  • The Sino-US Conflict in the Light of History of International Relations 
  • The Post-Trump US Policy in Mena Region and the Interests of the Russian Federation
  • Phenomenon of Direct Investments that are not Associated with “Classic” TNCs
View This Issue (2022, vol. 66, No. 1)
Submit an Article
Dear Authors!

Please note that in order to ensure stability of work of the editorial office and the possibility of planning the filling of the actual headings of the journal, articles and other materials received by the editorial office after July 1 will most likely be published next year. If you plan to publish your article in the current year the material should be submitted to the editorial office no later than July 1 of the current year.

Dear Authors!

In order to avoid the multiplicity of copyright profiles and to unambiguously identify your works in the international and domestic databases of scientific citation while submitting manuscripts to our journal please specify your ORCID.

Dear Readers!  
Please note that the full-text versions of each issue of the journal are opened on our website after 6 months from the date of publication. Work on deepening the open full-text archive is in progress. As of the end of 2021, all articles and materials published in the journal since January 2008 are freely available.

Dear colleagues, authors and readers!
We kindly request you to turn to editor-in-chief and executive secretary directly concerning reviewing scientific publications in our journal. Only editor-in-chief takes decision on order and publication the reviews!

Dear Readers!
This is to inform the researchers of the Institute of World Economy and International Relations that electronic versions of the IV issue of 2020 and I issue of 2021 of French magazine Politique étrangère are now available. Those who are interested, please personally address to the editorial staff of MEMO Journal (room 18-17) with an electronic media.

In response to the challenges of our time the Editorial board continues to open new thematic rubrics:

“World Energy Sector after Pandemic”. We plan to publish articles presenting in-depth analysis of influence of Pandemic on the global energy sector and forecasts of further developments in its various branches.

“Civilization processes of modern development” is a new rubric opened by MEMO Journal in 2020. It will be devoted to the analysis of the influence of civilizational factors and inter-civilizational interactions on the political and socio-economic development of the world at whole, regions and countries.

“Africa today and tomorrow”The rubric devoted to contemporary issues of Africa which is attracting growing interest of the world's leading actors. We plan to publish the articles analyzing the status of statehood, socio-economic and political development of the countries of Black continent, as well as the integration processes between them.


"World Eonomy and International Relations" announces a contest for the best joint academic publications of domestic and foreign researchers and experts in topical issues of the world economy and international relations. The winners will be selected according to the results of peer reviewing and discussion at the Editorial Board. The articles will be published in priority order.


The print version of “World Economy and International Relations” journal is distributed by advance subscription only, and is not offered for retail sale. To subscribe please address to any post office in Russia by referring to the Federal Postal Service Union Catalogue, section “ARSMI”, the journal index is 70542. The subscription may be made for the whole subscription period or starting from any nearest available month for desired number of issues.

To purchase the full-text electronic version of the journal’s issue/article please address to the WEB portal of Scientific electronic library or URL:

In journal
2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 |

The author’s opinions may not coincide with the position of editorial