Current pathetic economic condition is totally due to demonetization and GST where government visionary and timing totally failed to understand the mood of global and Indian economy. No-matter how rosy picture government paints through its promotions and advertisement but the reality is something different. Central government indirectly supported the big private players through demonetization and GST in big manner.
Currently unemployment rate is the highest in comparison to last decade; Where in the last decade inflation rates were high but somehow India economy was sustaining and generating greater employment in comparison to today's situation. Social entrepreneurs think this government is destroying the core values of Indian economy. Not promoting any savings and not increasing the spending power of common people.
The outcome of these policies are evident as higher unemployment due to accumulation of money in few individuals, reforms not up to the mark, poverty rates higher in coming years. One more outcome is evident as privatization will be on highest level.
Modi's government has no answers to this dire situation and deflecting the questions to other unimportant issues like Hindutva and Opposition's failures of 60 years. Modi government is comparing the Indian economy to global parameters which is highly unstable when it is compared to developed economies.
China on the other hand is sustaining it's economy with sufficient global investments and India is going downwards with foreign investments. Investments in infrastructural development by private player are not sufficient as they generate limited numbers of mediocre employment of third class. And this situation is going to last longer as government is in no mood to boost the small scale industrial and service sectors with tax rebates.
Government through it's policies destroyed small scale industries in big numbers and now it's affecting the Indian economy in big numbers.
Modi currently is tucked in a situation where he is spending much of tax payer's money in schemes which has no longer economic impacts and which is not going to boost the Indian economy.
Policy paralysis of this central government has lasted long enough to destroy the core of India economy in big manner which was public investment driven. If this situation goes longer enough beyond 2019 than India will be a privatized nation fully and no individual will feel secure under the pressure of private investments as it's all about generating money out of usual works and store the revenues in big safes of higher economy class.
lets see how this central government deals longer with Indian economy but chances are rare this central government will change it's course.
:siddharth
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