Would you say the socialist policies of the government have had a negative effect or a positive effect on the country's economy? In your opinion as a resident, does this play at all into why things are the way they are economically?
Rather, the current government’s actions seem to be driven solely by the government’s electoral needs of the day.
New election coming up? Announce huge “socialist” policies promising free stuff to a lot of people.
Massive foreign rally where the economy will be a rallying point coming up, but your markets are at a low and falling? Announce a huge “capitalist” 10% corporate tax rate cut that boosts the markets and doesn’t throw a dampener on your rally.
That's what any Government does in India.
https://m.timesofindia.com/city/bhopal/farm-loan-waiver-take...
(+) The biggest gain: There have been no famines in Independent India - in the previous 80 years, around 20 million died in famines. This was a massive issue during the freedom movement.
(+) State-subsidised education has succeeded in producing an elite which is world-class. However, state-subsidised _basic education_ is non-existent in many places, and literacy rates have been slow to grow nationally.
(-) Excessive regulations have stymied industry, and led to massive corruption. The regulatory codes in India are needlessly complex and stringent. Many people opt to bribe out than comply, it is much cheaper that way.
Overall, it has taken India more or less along a path of progress and is less of a mess than others think it is (see Hans Rosling's informative presentations for this). But, Indians feel frustrated because we feel the pace of progress should be much more.