Economist Jagdish Bhagwati today rated the economic performance of Narendra Modi government at 6 on a scale of 10. GDP figures for September quarter is pegged at 7.4 per cent. Manufacturing is showing an upward trend, but there are concerns, particularly when it comes to private investments.

"Not really let down (by 18 months of Modi government). There are some people like my colleague Jeffrey Sachs who says you can't cross a valley or a chasm in two leaps. You have to do it in one leap. We are a democracy. [Modi's case] is like President Obama. The legislator, in our case the Rajya Sabha, is an obstacle. So the prime minister has to think in terms of ordinances, which is executive action. Just like what President Obama is doing. So you have to think how best to get around this difficulty. I think [Modi] was beginning to do that, but strategies like to get elected in Bihar, that didn't work out," said Bhagwati, who is a professor emeritus at Columbia University and an economist who has tracked Modinomics very closely.

According to Bhagwati, all the BRICS countries have fallen off their horses while India is the only one which is still riding. However, he was not ready to give the full credit to Modi for the growth.

In an exclusive interview to Rajdeep Sardesai, he said, "Modi may be lucky or he may have really worked it out." He maintains that India is a big country with a big market and PM Modi should learn to play with it.

Bhagwati thinks there are three jobs that Modi should focus on. Firstly, PM Modi should explain what he really means by 'governance.' Secondly, on international trade front Modi has to maintain the relationship he has established with all the nations. He advised the PM to look east and leverage the size of India's market. Lastly, he should encourage people like Vasundhara Raje and Shivraj Singh Chouhan and Nitiayog itself to help with the labour market reform and the land market reforms. According to him all of these can be done by setting up committees and tactical teams, which are being sorely missed.

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