Thread by @Mnomics_

@sonaliranade @gsurya Since you raised the issue

@sonaliranade @gsurya They say , the universe is connected by something called "the dark matter " .
Nobody has seen or proved it's existence but they are sure it exists .

Similarily , Indian economy had a dark matter filling the gaps . It's called "cash" , the small amount kept for a rainy day +

@sonaliranade @gsurya In the socks , under the bedsheets , hidden by housewives from the drunkard husbands & this was the theme for rural consumption , which was entirely different from the western countries ( which thrives on credit cards & loans ) .

+

@sonaliranade @gsurya Then came the 56 inched hindu hriday samrat economist , surrounded by even bigger quacks , & in the path to try something different , put a screw onto the well oiled machinery,

Jan dhan yojna !! ie taking money from the poor & putting it in the bank. So banks lend it as loans +

@sonaliranade @gsurya Which obviously became NPAs !!

Not happy with the screw , next he threw a spanner into the well oiled machinery,

Called it "demonetization" , it took the economy back to 1990s level ,but the machine was struggling & rotating .

Not happy with the spanner , he pushed the +

@sonaliranade @gsurya Kill switch with " GST " .

Machine stopped rotating !!

Now what ??

NPAs rising
Credit growth standstill
Exchange rate volatile
Bond rates volatile
Interest rates have little room
FDI/FII/FPI not much interested
Kashmiris refusing to sell Apples
Corporates commiting suicide +

@sonaliranade @gsurya Ab karein toh karein kya , bolein toh bolein kya !!!! 😢😢😢😢😢

#WahModijiWah

@sonaliranade @gsurya @threadreaderapp pls unroll