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News update for book released on "ModiNomics – Inclusive Economics, Inclusive Governance"

Shri Arun Jaitley ji released the book ‘ModiNomics – Inclusive Economics, Inclusive Governance’, in New Delhi, today.

Written by Mr. Sameer Kochhar (Chairman of Skoch Group), the book focuses on how Shri Narendra Modi has brought about a sea change through his unique brand of ModiNomics. Mr. Sameer Kochhar has been interacting with Gujarat Government officials since 2003, and for much of the last decade, the annual Skoch Summits organised by Mr. Kochhar have featured case studies on Gujarat’s governance. Mr. Kochhar has also interacted with Shri Modi to know his mind on Gujarat and the nation first hand.

This book is an outcome of all the above and tells the Gujarat story in all its riveting details. It presents the vision behind Shri Modi’s thought process, his economics and governance vision, while also seeking to highlight the economic and development strategies adopted by Shri Modi.

Speaking on the occasion, Shri Jaitley said that though he had only glanced through the book, he was sure that the analysis put forth through data would make it ‘eminently readable and a great addition to the library’.

Putting forth his observations on the book, Jaitley ji spoke about the inspiring success story of Gujarat which had emerged as a favoured investment hub. He said that the Gujarat Chief Minister Shri Narendra Modi had faced criticism like no other leader, but instead of getting involved in the mud-slinging campaign, he chose to set his own agenda and move on. Citing the example of the successful Narmada, which Shri Modi relentlessly focused on achieving inspite of the severe opposition to it, Jaitley ji said that it was this dedicated and decisive approach of the Gujarat CM that had played an instrumental role in changing the face of the State. He spoke of how this project had triggered a subsequent growth in agriculture and also ensured availability of water to drought-rid regions. “The rural economy in Gujarat became stronger. Ports were developed, there was white revolution and all this created jobs,” said Shri Jaitley.

He further added how this approach had given the much-needed boost to the manufacturing segment. “The Manufacturing sector changed the face of Gujarat. Gujarat became known for that, and infrastructure too improved,” said Shri Jaitley.

Shri Arun Jaitley ji applauded the non-traditional thinking adopted in Gujarat, and said, “I think it was decisiveness in terms of decision making that played a key role and this decisiveness was not merely political. The State’s Civil Services and the Bureaucracy also attuned themselves to this changed culture.” This approach, he said, had also encouraged many investors as they found the environment to be more hospitable.

“It was effectiveness of the leadership that got things to be implemented,” said Shri Jaitley, while adding that the Nation needed not just a politician but a hardcore politician and a leader who could show the direction, implement decisions and be clear about the direction his country needs to move.

“I think eventually the model that grew is the model that India conceived of. One that ensured a high growth rate, investment, job creation, much larger economic activity and revenues,” said Shri Jaitley.

Shri Jaitley also spoke about the misdoings of the current government and said that scams like the 2G scam and Coal block only reflected the nepotism and misgovernance of the Central government. He also spoke of how corruption and subsequent mismanagement had had a spiral effect on the investment environment of India.

He spoke of the political credibility that eminent leaders like Shri Lal Bahadur Shastri had, and the kind of inspiring footprints they had left on the Indian economy. Strongly opposing the Hon’ble Finance Minister’s question challenging Shri Narendra Modi’s knowledge of economics, Shri Jaitley retorted by asking what according to the Finance Minister made a good leader of the government. “Politicians are essentially known not by the number of years spent in the office but by the footprints they leave behind,” said Shri Jaitley, while adding that, according to him, India could not afford a non-politician as a Prime Minister.

Other dignitaries to attend the occasion include Mr. Rana Kapoor, President, Assocham, Dr. Surjit Bhalla, Economist, Mr. Ashishkumar Chauhan, MD & CEO, BSE, and Ms. Sudha Pillai, Distinguished Fellow, Skoch Development Foundation and former Member Secretary, Planning Commission.

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