Modi’s Triple Achievements : Most Unemployed, Highest External Debt, Most Inequality

Modi government has achieved three more milestones.

1. India’s external debt has cross half trillion dollar mark in December 2017, more than half the amount is coming up for repayment according to Economic Times.

The external debt increased from $224 billion in March 2009 to $446 billion in March 2014 and now $514 billion in December 2017.

The external debt is the amount of money Indians have to repay in US dollars and other foreign currencies.

In messages circulated by BJP internet army, RBI’s $400 billion forex reserves are shown as Modi’s achievement. But, this is just 79.7% of the total external debt with 53% of debt coming up for maturity in the next one year. That is, the forex reserves are just borrowed money parked by RBI in US dollars.

2. India has become the country of the most unemployed in the world – according the labour bureaue statistics.

India has slipped to the hundredth place in the Global Hunger Index of 2017, and in this case, Bangladesh, Sri Lanka, Myanmar and many African countries have a better performance than India, while we were at 97th in 2016.

3. Richest 1% Cornered 73% of Wealth Generated in India in 2017: Oxfam Survey

A homeless girl asks for alms outside a coffee shop in Mumbai, India, June 24, 2016. REUTERS/Danish Siddiqui/Files