Is India as different as claimed by “experts”? My own experience, and interpretation, is that India is very different because the experts (perhaps including those at the central bank) look at monetary policy very differently.
India was a pioneer in data collection some 70 years ago. It should be recalled that GDP data in the first 30- odd years was based on the consumption data collected by the NSSO. Poverty rates, and policies, were based on NSSO data.
The stage has been well and truly set for the next generation of economic reforms. There is no going bacK and the people believe Modi and trust Modi to deliver. That is why this election was about the delivery, and promise, of the Modi government.
The most unfortunate event to befall the Congress was that the party won three states in December 2018. This lulled them into thinking that they had a good chance of making a come back in these states, and therefore, across India.
Scholars have derived the conclusion that Modi was a minority winner (only 31 per cent vote), that he did not win a popular mandate, that 2014 was a Black Swan (very unusual event) election and, therefore, unlikely to be repeated again.
Very likely, and I am speculating, it was because of the opposition of Congress’s economic consultants that there were glaring and obvious contradictions in the Congress’s Minimum Income Guarantee (MIG) income, and the contradiction between survival and poverty line income.