Experts who dare to disagree are dismissed as out of touch. When Mr. Modi chose to withdraw most bank notes from the economy last November to fight corruption, economists gave plenty of warning that a nasty shock would follow. “Demonetization” was a big reason growth slowed this year, as many workers went unpaid and consumers delayed spending.

Official gross domestic product statistics show first-quarter growth in the economy, at an annual rate, was just 6.1 percent — unimpressive for a big, poor country with much catching up to do. It is also slower than when Mr. Singh, supposedly such an embarrassment, left office.

Global economic conditions are remarkably benign right now. Oil prices are less than half what they were in 2014, when Mr. Modi came to power. They are crucial for India, which is a huge oil importer. Monsoon rains have been relatively kind. Else, India’s recent story would be much harsher.

Mr. Modi remains popular, partly because India’s opposition is hopeless and because many Indians like his bombast. Nationalists talk of their country — which will soon be more populous than China — as an emerging superpower. Just as railway officials call dawdling trains “superfast,” or as fawning broadcasters call Mr. Modi the “first 24x7 prime time prime minister,” such claims are overdone.

Mr. Modi’s economic promises are so extraordinary they must be taken with a deep slurp of salty lime juice. He vowed India would train apprentices by the hundreds of millions to service that manufacturing boom. He said internet networks would get to all of the country’s 600,000 villages shortly. He promised to clean the polluted Ganges River and build 100 million extra toilets by 2019. And, he said, India will have 100 new “smart cities” and a network of high-speed trains, and the World Bank will rank it as one of the 50 countries friendliest to businesses — up from 130th now.

Such promises are bold, but few are plausible, given the strongman economist’s limited efforts to deliver. It is good to see, at long last, the start of a national Goods and Service Tax. It is supposed to create a single market, replacing lots of local taxes with national ones. But the system, with six tax rates for different goods, looks overly complicated and some in business complain it has been implemented poorly. A welcome new law on bankruptcy should help the financial system. It has grown a bit easier for foreigners to invest in some sectors.

Much else is no nearer to happening under Mr. Modi than under Mr. Singh. Few formal jobs have been created, as labor laws remain painfully restrictive. Nobody dares talk about creating freer markets in agriculture, lest that upset villagers. It is still hard, without political help, to buy land to build a factory. And in too many sectors — such as makers of steel, fighter jets and even sex toys — state-owned firms crowd out private ones. Mr. Modi has not done much to fix such problems, beyond telling state governments to try.