Is India moving towards a serious economic crises?
Banks are seating on huge NPA and loans which are doubtful of recovery. GDP has fallen down. Businesses are still confused about GST.
Recent news are to be believed than government is planning to bailout industry with 50,000 crore package.
Do you think we are moving towards an economic crises or these are just short term glitches due to recent moves taken by government.
I personally feel that at ground level this government has failed. To look at transaction levels, I am not going at macro level but at micro level nothing has changed. Neither corruption nor government machinery.
What you feel? Moves such as Demonetisation, GST are a long term moves implemented at right time and things will settle before 2019 general elections?
Banks are seating at huge NPA.
Patrol prices are at high level, despite crude oil prices are at same level that of UPA time.
I do not see any change in any part of system. Everything is same as was in UPA time.
Half of BJP as of now is filled with Ex-congress workers.
I have no hope. 2019 is going to be a major challenge for team Modi.
demonetization was a small wound which is cured by the time. BUT it was GST who actually made the most of the damage. It was big foolish. GST is not simple at all its fully complex and most of the ground level business are uneducated not only education but it needs special skills to understand the GST. The retailers are still confused and also ANGRY. they are directly connected with consumers so with their disturbed mind they increased the prices of the productes by 20-40%. At ground level or micro level things are very much opposite for govt. The only solution is to shift the GST onto first and second stage and advertise it for the consumers like MODI SARKAR KA BADA TOHFA, AB NAHI DENA PADEGA GST
India was affected but not at micro level during 2008 crises. But this time something is seriously wrong.
Things are not at all working the way they should work.
I have not witnessed any move from this government that does not represent what our previous governments were doing.
Nothing has changed. Demonetisation was not a brave move. Brave move would have been to include middle class population in main stream by lifting income tax law for few years.
One way government is not lowering the patrol prices and thus filling its revenue pockets and on another move it has killed many businesses.
Though Demonetisation could be a game changing move but how?
For example, If I go completely cashless and accept digital payment, 2% I have to pay to middlemen.
I am not talking about cheques, that is not option. Lot of them bounce lot of time.
How can we go digital when 2% or higher fee is charged by banks and middlemen. Think of grocery stores which have an average margin of 2%-4% on majority of items.
The next move is expected not from government but from RBI to lower the transaction cost.
Regarding economic crises, it is short term and India is going through it.
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