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India's Bharatiya Janata Party government, led by premier Narendra Modi, marked its first anniversary in office on May 26 .The BJP rode to power on a wave of expectations after a decade in opposition to the United Progressive Alliance government, led by Prime Minister Manmohan Singh of the Congress party. Attracting young people with the promise of jobs, and older voters with the prospect of reform and growth, Modi won a mandate that stunned the country's pollsters.Indeed, despite speaking eloquently of tolerance and accommodation, Modi has remained largely silent in the face of hate speech by BJP ministers and parliamentarians that is alienating India's non-Hindu minorities.Likewise, Modi has not kept his vow of "minimal government, maximum governance"; on the contrary, he has created the most centralized, top-down, bureaucracy-driven, personality-cult-dominated central government since Indira Gandhi's emergency rule in the mid-1970s. With Modi too busy to keep up with all of the decisions he – and only he – can make, the government is adrift.Unsurprisingly, investor sentiment, which perked up during Modi's campaign, has dampened considerably.Modi's government has also revealed a fine talent for announcing grandiose schemes and failing to finance them. In a sense, Modi is fortunate that his government's failings have become so starkly apparent so early in his tenure; he now has time to address them.
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