The period before and after 2014 in India represents a significant juncture in economic policy, governance, and development. Here’s an overview of the Indian economy before and after 2014:

Indian Economy Before 2014:

1. Economic Growth:
   • Before 2014, India experienced a period of relatively high economic growth, averaging around 7-8% GDP growth annually.
2. Global Financial Crisis Impact:
   • The global financial crisis in 2008 had some impact on the Indian economy, leading to a temporary slowdown.
3. Inflation:
   • Inflation, especially in food and fuel prices, was a concern during certain periods.
4. Fiscal Deficit:
   • There were challenges in managing fiscal deficits, with concerns about the sustainability of government expenditure.
5. Current Account Deficit (CAD):
   • The current account deficit was a matter of concern, and there were fluctuations in the balance of payments.
6. Corruption Scandals:
   • The UPA government faced corruption allegations related to high-profile scandals like the 2G spectrum and coal allocation.
7. Policy Paralysis:
   • There were criticisms of policy paralysis, with challenges in decision-making and implementation.
8. Structural Reforms:
   • Progress in implementing structural reforms was relatively slow, impacting sectors like taxation and labor.

Indian Economy After 2014:

1. Economic Reforms:
   • The government led by Prime Minister Narendra Modi initiated economic reforms, including the Goods and Services Tax (GST) and demonetization.
2. GST Implementation:
   • The introduction of GST aimed to streamline taxation, reduce tax evasion, and create a unified market.
3. Demonetization:
   • In 2016, the government demonetized high-denomination currency notes to curb black money and promote digital transactions.
4. Infrastructure Development:
   • There was a renewed focus on infrastructure development, with significant projects in roads, railways, and urban development.
5. Ease of Doing Business:
   • The government aimed to improve the ease of doing business, resulting in an improved ranking in global indices.
6. Direct Benefit Transfer (DBT):
   • The expansion of DBT aimed to directly transfer subsidies and benefits to the intended beneficiaries, reducing leakages.
7. Foreign Direct Investment (FDI):
   • Efforts were made to attract foreign direct investment across various sectors.
8. Financial Inclusion:
   • Initiatives like Jan Dhan Yojana aimed to promote financial inclusion by providing bank accounts to the unbanked.
9. Goods and Services Tax (GST) Council:
   • The GST Council was established to address issues and challenges related to the implementation of GST.
10. Insolvency and Bankruptcy Code (IBC):
    • The introduction of the IBC aimed to address issues related to corporate insolvency and bankruptcy.
11. Focus on Digital India:
    • The Digital India initiative aimed to promote digital literacy and technology adoption.
12. Social Welfare Programs:
    • Various social welfare programs, such as Ayushman Bharat, were introduced to address healthcare challenges.
13. National Infrastructure Pipeline (NIP):
    • The NIP was launched to boost infrastructure investment in key sectors.
14. Renewed Emphasis on Manufacturing:
    • Initiatives like “Make in India” aimed to promote manufacturing and job creation.
15. COVID-19 Response:
    • The government implemented measures to address the economic impact of the COVID-19 pandemic, including relief packages and reforms.

Challenges and Continuities:

1. Unemployment:
   • Both periods saw challenges related to unemployment, with the issue persisting.
2. Agricultural Distress:
   • Agricultural distress, including farmer protests, has been a challenge that spans both periods.
3. Global Economic Factors:
   • Both periods were influenced by global economic factors, including the global financial crisis and the COVID-19 pandemic.
4. Structural Reforms:
   • The need for comprehensive structural reforms, including labor and land reforms, remains a priority.
5. Inclusive Growth:
   • Achieving inclusive and sustainable economic growth continues to be a goal for policymakers.

In summary, the economic trajectory of India before and after 2014 reflects a mix of challenges, reforms, and continuity. The government’s efforts to address economic issues, boost infrastructure, and implement policy changes have shaped the economic landscape during these periods. Public opinion on the success of these measures can vary based on diverse perspectives and priorities.