The British are not amused that Indian Prime Minister Narendra Modi is not doing their bidding, as can be seen just by the headlines on recent articles in the Financial Times and The Economist. One Financial Times article ran under the headline “India Unveils Spending Binge To Boost Narendra Modi’s Allies.” The Economist states that “A Weakened Narendra Modi Subsidizes Jobs and Doles Out Pork.” And a July 18 feature in The Economist worried that “The epic bust-up between China and India could be ending,” and complained in particular about growing Indian imports of Chinese capital goods and the July 8-9 “bear hug” summit between Modi and Russian President Vladimir Putin.
What is the “spending splurge” that the Financial Times disapproves of? Expenditures which “included a Rs260 billion industrial corridor running through Bihar, Rs150 billion for a new `high-tech’ capital in Andhra Pradesh called Amaravati and funds for flood reconstruction and developing local temples.” The Economist is annoyed by Modi’s announced plans: “One of the headline figures was $24 billion of new spending on job-creating measures over the next five years. This includes a plan to incentivize hiring in the formal sector by contributing to employees’ first month’s wages and reimbursing some of employers’ social-security contributions. It also includes new training programs for women.”
