President Viladimir Putin has taken an oath on 7th May 2024 for his next term. He was the acting President of Russia from 1999 to 2000 and then he taken oath as elected President of Russia on 7th May 2000 for his first regime. After that he was able to continue his journey with continuous success and in the same continuity, he took oath on 7th May 2024 for his next term which will continue till 7th May 2030.
Here we will examine what are the economic, financial reforms and foreign policy key points of President Putin which are the main reason for the success of his continuous journey and we will try to find the answers of following questions like that :
- Is he has the support of Russian people ? or
- Are the Russian people captivated by his personality ? or
- He has imposed himself on the Russian people as a Dictator ?
We can also call President Putin’s ideology or style of governance Putinism or Putin doctrine. President Putin was the member of Unity Party as well as the member of United Russia Party.
In order to improve the perception of United Russia, President Putin also formed a group of supporters who are constantly working on this agenda.
In 2007, Time Magazine named him its person of the year on its cover page, while Time Magazine included him in the world’s 100 most influential people and Forbes also highlighted him as the most powerful person in the world.
Economic and Financial reforms:
During the regime of President Putin, the Russian economy and living standard of ordinary Russian citizens increased rapidly, while the boom in the oil industry and better economic reforms can be attributed to this. President Putin succeeded in the transparent implementation of independent economic, financial and reform policies on solid foundations, which directly benefited the Russian people, resulting in a significant reduction in the percentage of poverty in Russia. According to some economists, this rate is more than half and Russia’s GDP also saw the best increase.
President Putin has made significant tax cuts since implementing his policies, which include efforts to improve the financial condition of the common man by significantly reducing the flat tax and corporate tax rates, while also making it easier for small businesses. Old tax system with high tax rate replaced with a new better and simpler tax system. It would not be out of place to say that the tax rate in Russia under President Putin has been much lower than in many European countries.
President Putin launched priority national reform projects in the areas of health, education, housing and agriculture to improve the standard of living of the common man. Public reform projects such as the excellent facilities for women during maternity, prenatal care facility , substantial increase in wages in education, as well as the use and provision of modern equipment in the education and health sectors, are considered to be the strength of President Putin’s power. Since then, the middle-income class has fully embraced President Putin as a savior and his grip on power.
Opposition to President Putin:
Despite all his successful economic policies, President Putin is not without internal opposition. President Putin has faced opposition from various human rights organizations, who say that political freedoms have declined during President Putin’s tenure. President Putin also faces accusations of lack of transparency, nepotism and high levels of corruption and mismanagement in his governance.
According to some commentators and analysts, President Putin also tried to make some policies under which all the important figures, including politicians, from the general public, are under the surveillance of secret agencies, while some analysts call President Putin a dictator. However, President Putin does not respond to any accusations of the opposition, nor does he participate in any debates, this work is done for him by his followers.
Foreign relations and policies:
President Putin wants friendly relations with the whole world in foreign affairs. He wants to establish a strong and fraternal relationship with all his friendly countries, he believe in equality with all. It is admirable that President Putin has been very successful in his foreign policy throughout his tenure so far, the effects of which can be seen both internally and externally, and this is the reason why the Russian people trust President Putin. As we know India and Russia have historically strong strategic and diplomatic ties and President Putin’s efforts to strengthen them are not hidden from anyone and it is also an open fact that India is the largest buyer of Russian military equipment. It should be noted that President Putin’s promise to bring India and China closer as close allies and partners is also appreciated around the world. Moreover, President Putin has been able to establish positive and friendly relations with Asian states, including India, Pakistan, China, and the former states of the Soviet Union in Central Asia. With the former Prime Minister of Japan, Shinzo Abe, Japan and Russia also held meetings on territorial disputes, and as a gesture of goodwill, President Putin also expressed his consent to the construction of a railway bridge between the two countries, but unfortunately, no further progress could be made due to the resignation of Prime Minister Shinzo Abe. President Putin has made several visits to Mongolia, Malaysia, Philippines, North and South Korea and Indonesia while making efforts to maintain the friendly approach of his foreign policy. while he is also the first Russian president to visit North Korea, took the initiative to promote good friendly relations by providing military and economic aid to Vietnam and Afghanistan At the NATO-Russia summit, President Putin strongly opposed Ukraine’s alleged accession to NATO. President Putin Likens Ukraine to “Little Russia” he believes that the people of Russia and Ukraine are practically and culturally the same people. In 2014, President Putin forgave Uzbekistan’s debt, which was seen as a friendly foreign policy move. Due to Ukraine’s continued failure to recognize the seriousness of the situation, on February 24, 2022, Russia launched a large-scale military attack on Ukraine in a major escalation of the conflict, resulting in Ukraine breaking all diplomatic ties with Russia. He removed Russian-named streets and signs of Russian-Ukrainian friendship from places in Ukraine that were not viewed favorably. It is noteworthy that Russia and Ukraine are two of the founding members of the 1922 treaty that established the Union of the USSR and are also signatories to the December 1991 treaty that ended the union. It is worth noting that Russia’s GDP is only 7% less than Ukraine’s pre-war GDP, but despite this, Russia’s economy remains on its feet. According to experts, Russia is losing more than 500 million dollars a day due to the war in Ukraine. While Russia’s GDP is projected to decline by 2.1% in 2022, despite concerns from the World Bank and other financial institutions, the IMF expects Russia’s GDP to improve by around 0.7% in the future. There is room for improvement and President Putin has not disappointed the IMF with his excellent economic policy and that is why the Russian people admire President Putin and appreciate him as the architect of Russia’s economic and financial development and use their strong support vote in his favor. Conclusion / Request / Pray: IN fact, the Russian people, rather, it would not be out of place to say that there is a very large number of people in the world who like President Putin as a shrewd politician and an excellent administrative leader and want President Putin to be the leader of the world. Take measures for peace and the betterment of the Russian people in particular, and President Putin is certainly capable of that. First of all, President Putin should try to resolve all his conflicts with Ukraine through dialogue and move towards an acceptable solution, because it is certain that war will never solve any problem. It is not, while its economic effects are affecting not only Russia but also many countries of the world. In order to make Russia a strong economic power in the style of China, President Putin will have to get out of the war zone. A strong economic Russia will be able to play a decisive role in the world. China is becoming a strong economic power and President Putin should follow this model for a strong economic of Russia and it can be possible that China help out the Russia to increase the trade of Russia . The construction of a railway bridge between the Japan and Russia, which was dreamed of during the time of former Japanese Prime Minister Shinzo Abe, should be considered to resume the process of implementation, which will promote bilateral relations and trade activities. There will be an increase which will benefit Russia in any case. There is room for further improvements in the tax system that will benefit ordinary Russians. We hope that President Putin will emerge as a wise and revolutionary leader working for world peace and Russia’s economic development in his new term.