Growth of India During 1980 To 2023: An Analytical Study

It is reasonable to question if Narendra Modi's National Democratic Alliance (NDA), which has been in power for 10 years, has done better than the previous United Progressive Alliance (UPA), which was led by Prime Minister Dr. Manmohan Singh. Over the past nine years, India has made great strides to regain its status as the world's largest economy with the highest pace of growth. The purpose of the study is to compare the growth stories of the Manmohan Singh and Narendra Modi governments in India. Methods: The study made use of secondary data. Secondary data is gathered from a variety of sources, including government publications, CMIE, IMF, research papers, theses, articles, websites, wikipedia, and more.
Results and Discussion: India's GDP increased from over US$ 2 trillion in 2014 to US$ 3.75 trillion in 2023. India's economy has grown significantly, moving it up from the 10th to the 5th largest in the world. India is now seen as a bright spot in the world economy as a consequence, according to Finance Minister Nirmala Sitharaman. India's economy is expected to rank third globally by 2027, according to chief economic advisor V Anantha Nageswaran.
Findings: The global economy encountered distinct difficulties over the two periods; during Singh's leadership, it was propelled by the global boom and subsequent financial crisis, while under Modi, it faced difficulties such as COVID-19 and demonetisation. Finally, Modis’s strong determination, honesty, hard work, and seeing others as one's own (Apna Pan, i.e., Sab ka Sat, Sab Ka Bikas) are among Narendra Modi's specialities. Conclusion: The policies of each leader and the status of the global economy have determined the distinct courses taken by India's economic growth under Prime Ministers Manmohan Singh and Narendra Modi.

NDA, UPA, CMIE, IMF, Global Economy, COVID-19, Economic Growth

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