File photo of PM Narendra Modi.
Observing that the Narendra Modi Government, which came to power last year on a plank of change has been bogged down by bureaucracy and politics, a top US think-tank has said "caution" and not enthusiasm is evident in every arena.
In a report 'Modi One Year On', Washington-based Hudson Institute said the BJP-led government was voted into power by a new generation of Indians.
The new Indian electorate is aspirational and demands instant gratification and immediate results, it said.
"Caution and not enthusiasm is evident in every arena, whether economy, defence, healthcare, trade and investment, energy, education and labour," the report said.
"Yet there are tremendous opportunities before the Modi government: there is still tremendous popular support for Mr Modi personally, the corporate sector is still hopeful of change, the global environment has been helpful and India's demographic dividend is in India's favour," the report said, adding that Modi backers are also impatient for positive results.
"Markets run on sentiments and until now the upswing in Indian economic growth has been primarily because the markets remain hopeful of change for the better. Prime Minister Modi must act fast before this hopefulness dissipates," said the report.
The report also argued that India's economy is growing but not because of government policies and actions. The pace of growth has increased because of global economic factors, such as lower oil prices and the fact that the market still 'hopes' things will change.