Yes they are but the general feeling is that things cannot go any worse, and even if half the promises are met, that, in itself, can make a huge difference to the country.
The Boom News's show #TheIndiaHangout got together Govindraj Ethiraj and Ayaz Memon with Dr. Surjit Bhalla, chairman of Oxus Investments and investment banker Udayan Bose.
And the following points emerged from the 30-minute chat:
* Expectations from Modi is that the moment he comes to power, prices will go down, employment will go up, industrial production will improve... like he is magic: Bose
* Even if half the expectations are met, that itself will be going a long way: Bhalla
* BJP will start on a high note, and they will maintain that high note: Bhalla
* Even without elections, the Indian economy would be growing at 6-6.5% for 2014-15: Bhalla
* In the first 100 days, the BJP Government can change the mindset of the Indian economy from a welfare state to a growth state: Bhalla
* In the first 100 days, Modi has to create a perception that this is a stable govt that follows the constitution: Bose
* How Modi will encourage RBI will have to be seen: Bose
* Meeting part of the expectations would be tackling food inflation and Modi would try and bring it down: Bose
* He would vote for GST, which could add 1% to GDP: Bose
* We are tired of the word secular: Bose
* Situation is so bad on every front, it is very easy to make difference: Bhalla
* If UPA comes back to power, it would be a disaster: Bhalla
* A welfare economy, 18th century economy, 18th century mindset, their DNA is socialist economy: Bhalla
* I don't think "lady" at the top has any idea about economics: Udayan Bose
* UPA coming back to power would be a disaster from every point: Bose
* Outgoing Finance Minister has literally cleaned up the treasury: Bose
* UPA Government did not even understand basic problems of the economy: Bose
* Hindutva is a non-event in the economic sense: Bhalla