The basic problem with this govt is that it has no idea about how to run the economy. It depends upon babus to make the most convoluted and complicated policies and ensure the economy tanks. People who haven’t ever done anything productive decide how economy will function
Everyone told the GOI that the way GST is being implemented is a disaster. But the politicians preferred to believe the babus who messed up the single most important reform. People who never graduated from a Kirana store mentality were given the keys of the Indian economy.
Ask any businessman and he will tell you the sort of tax terrorism and financial harassment by 3rd rate govt servants. From the IT dept to PF to every two bit babu is busy extorting money from businesses and people at the top are clueless.
Notices are issued to companies purely to extort money. If the companies approach the courts, it takes years to win the case and that too after blocking their money for all those years. They find it easier to pay hafta to the babu rather than go through torture of legal system
There is no imagination on how to create wealth. No understanding that unless businesses make money there is no revenue to fund the political and welfare projects, no jobs, nothing. But voodoo economists of the swadeshi Jagran manch type have captured the policy making.
With the economy in doldrums, there will be even more reliance on the stupid babus who don’t know their back side from their front...they only know how to advance their own interests. The more the GOI listens to the idiot IAS the more the economy will tank.
Forget $5 Trillion, we aren’t even going to be $4 Trillion if the current economic policy model continues. These guys just don’t realise that bad economics doesn’t make for good politics. But who will tell the emperor that he is without clothes?
