Roughly 35,000 youths in India are entering the job market every day. But only about 500 jobs are being created per day. The Indian economy is stuck in a toilet and the flush is not working! All the macroeconomic indicators are painting a grim picture. Indian industry is not investing in India but mostly abroad because the cost of credit is much cheaper in other countries than here right now. Exports are declining, factory output is at the lowest in recent times. GST implementation is an almighty mess. Food inflation is constantly moving north. I could go on and on, but there is no absolutely no denying the fact that this government has made a terrible mess of the economy. The 'Supreme Leader' and his devotees (I would not use the word 'bhakts' this time) in the media have been so arrogant in their belief in having a divine right to rule, that like an Ostrich buries its head in the sand at the first sign of approaching storm, so have they hoping that the trouble would just disappear on its own. But the harsh realities have a strange way of catching up with you. But who is the net loser in all of this? We the people.
Wednesday, 20 September 2017
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#241
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Given the size of our democracy, it would be difficult to rectify the situation either ways. We do need a revolution and perhaps generations of it. The root cause of our problems still remains corruption.
ReplyDeletePlaying Devils advocate, I'd say from the West, India is seen as "fastest growing" economy right now. FII's pouring in Asia, moreso India. Maybe all is not lost?