IESET.
Movements·india_modi_first_second_term_2014_2024

Modi first + second term — Hindutva-economic-nationalism + supply-side reform (India)

IND·20142024·BJP-led NDA — BJP absolute majority 2014 (282/543) and 2019 (303/543), allied with Shiv Sena (pre-2019 split), JD(U), LJP, Apna Dal and others
Leaders: Narendra Modi (Prime Minister, 2014-2024) · Arun Jaitley (Finance Minister, 2014-2019) · Nirmala Sitharaman (Finance Minister, 2019-2024) · Amit Shah (Home Minister, 2019-2024; BJP President prior) · Piyush Goyal (Rail/Commerce) · Raghuram Rajan / Urjit Patel / Shaktikanta Das (RBI Governors)
positionsdevelopmentalismclassical_liberalordoliberal

Doctrine — stated goals and content

Hindutva-economic-nationalism combined with supply-side market reform and welfare-transfer digitisation. Economic school: (i) supply-side manufacturing push — Make in India (Sep 2014), corporate tax cut from 30% to 22% (22% for existing / 15% for new manufacturing) via Taxation Laws (Amendment) Ordinance 20 Sep 2019, Production-Linked Incentive (PLI) scheme launched March / October 2020 across 14 sectors (~₹1.97 trillion outlay); (ii) welfare- transfer digitisation via JAM trinity (Jan Dhan bank accounts from Aug 2014, Aadhaar universal ID, Mobile) enabling Direct Benefit Transfer for LPG subsidy, MGNREGA wages, PM-KISAN (₹6000/yr cash to farmers from Feb 2019), Ayushman Bharat health insurance (PM-JAY launched 23 Sep 2018 covering 500m people up to ₹5 lakh); (iii) indirect-tax unification via Goods and Services Tax (Constitutional 101st Amendment 2016, GST live 1 Jul 2017) replacing ~17 central+state levies; (iv) insolvency reform via Insolvency and Bankruptcy Code (28 May 2016) creating National Company Law Tribunal creditor-driven resolution; (v) demonetisation 8 Nov 2016 overnight voiding of ₹500 and ₹1000 notes (86% of cash in circulation) with stated aims of black-money / counterfeiting / digitisation; (vi) infrastructure-capex push — national highway construction doubled, Vande Bharat trains, Bharatmala + Sagarmala, Gati Shakti 2021 integrated infra plan; (vii) real-estate regulation via RERA (2016) and REIT enabling; (viii) cultural-legislation agenda hardening in the second term — abrogation of Article 370 of the Constitution re Jammu & Kashmir (5 Aug 2019), Citizenship Amendment Act (11 Dec 2019) fast-tracking citizenship for non- Muslim refugees from three neighbours, Ram Janmabhoomi temple consecration (Jan 2024), National Education Policy 2020 restructuring schooling and higher education; (ix) farm-laws package (three Acts passed Sep 2020) liberalising agricultural marketing — repealed Nov 2021 after year-long farmer protests at Delhi borders; (x) Digital India platform build (UPI, DigiLocker, CoWIN, ONDC) with UPI scaling from near-zero 2016 to ~14 billion monthly transactions by 2024. Economically right-of-centre on corporate, FDI, trade facilitation; culturally hard-right on religious-identity legislation. Popularity: 2014 31.0% vote / 282 BJP seats (NDA 336); 2019 37.4% vote / 303 BJP seats (NDA 353) — strongest consecutive BJP mandate in history. Modi approval consistently 55-70% across tenure per multiple trackers. Coherence line: digital-rails welfare + supply-side corporate competitiveness + majoritarian cultural legislation delivered via absolute parliamentary majority.

Policy-content fingerprint — how the framework codes this movement on its axes

tax corporate
fiscal.tax_corporate
Statutory and effective corporate tax rates, treatment of depreciation, and international competitiveness.
decreased · strong
lower corporate tax burden
Corporate tax cut from 30% to 22% (15% for new manufacturing) in Sep 2019 — one of the largest corporate-rate cuts in Indian history.
sectoral subsidy
fiscal.sectoral_subsidy
Targeted industrial and sectoral subsidies (renewable energy, chip manufacturing, agriculture, green hydrogen, etc).
increased · strong
expanded sectoral subsidies
PLI scheme outlay ~₹1.97 trillion across 14 sectors; electronics, pharma, auto, semiconductors, solar, food-processing.
transfer expansion
fiscal.transfer_expansion
Size of cash and near-cash transfer programmes (unemployment benefits, means-tested assistance, universal child benefits). Architecturally distinct from forced-saving schemes — see condition welfare_architecture.
increased · moderate
larger transfer footprint
PM-KISAN cash transfer, Ayushman Bharat health cover for 500m, PMAY housing, PMGKY free foodgrains during COVID.
product market competition
regulatory.product_market_competition
Product-market regulation, entry barriers, licensing burdens, network-industry regulation, price controls.
increased · strong
more competition-friendly (lower entry barriers)
GST unified national market; IBC creditor-driven resolution; Jan Vishwas decriminalisation; FDI liberalisation in defence, retail, insurance.
~
trade openness
regulatory.trade_openness
Trade policy openness — tariffs, non-tariff barriers, FTAs, industrial protection.
mixed · moderate
Exited RCEP Nov 2019; raised tariffs on electronics and select imports; offset by signed FTAs with UAE (2022) and Australia (2022).
~
rule of law
institutional.rule_of_law
Rule of law as institutional substrate — contract enforcement, judicial independence, equal treatment before the law. Upstream of most other axes.
mixed · moderate
IBC and GST strengthened rule-based economic architecture; ED/IT investigative-agency use against opposition and CAA/UAPA amendments pulled the other way.
~
property rights
institutional.property_rights
Security of private property rights — formal recognition, expropriation risk, titling systems.
mixed · weak
RERA strengthened homebuyer protections; demonetisation arbitrary legal-tender voiding and retro-tax settlements moved the opposite way.
judicial independence
institutional.judicial_independence
Independence of the judiciary from executive and legislative encroachment. Specifically captures court-packing, selective prosecution, judicial reshuffles.
decreased · weak
weaker judicial independence
Executive-judiciary tension over collegium appointments; electoral bonds scheme struck down by Supreme Court Feb 2024.

Policies enacted

What the data says — linked outcome hypotheses

The movement's outcome claims are tied to these hypotheses. Verdicts update as models run.

not yet written
developmentalist_state_growth_performance
not yet written
structural_reform_absence_and_post_euro_stagnation

Schools of thought aligned or opposed

aligned
developmentalism
Make in India + PLI is explicit mission-oriented industrial policy.
partial
classical_liberal
Corporate-rate cut, IBC, GST, FDI liberalisation align; demonetisation, tariff hikes, and cultural-legislation oppose.
partial
ordoliberal
GST Council + IBC rule-based architecture; fiscal-responsibility glide path partial.

References

Notes

Broad-era record. Overlaps the narrower modi_demonetisation_gst_2016_2017 movement which is retained as a narrow-scope record for the specific 2016-2017 reform bundle. Policies may be enacted_by both movements without conflict per schema (multi-movement enactment is explicitly supported).