New India government suffers double economy hit

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Prime Minister Narendra Modi's new government suffered a double economic blow of slowing growth and rising unemployment as it took office Friday.

NEW DELHI: Prime Minister Narendra Modi's new government suffered a double economic blow of slowing growth and rising unemployment as it took office Friday .

The bad news increases pressure on Sitharaman to kickstart reforms and create jobs for more than 12 million young Indians entering the workforce every year. Modi was much-criticised for suddenly cancelling a huge proportion of bank notes in 2016, in a bid to hit the black economy.The economy has still grown by about seven percent a year since he first took office in 2014 on a pro-business platform but that has not been enough to create desperately needed jobs.

As BJP president, Shah, 54, masterminded Modi's second election triumph and must now pursue Modi's nationalist agenda in internal security, immigration and other key national issues.

 

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