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Indian economy is in a mess. The National Saving Scheme (NSS) which is where a lot of people store their life savings has been raided by the present government
by pkphilip 7y ago
Indian economy is in a mess. The National Saving Scheme (NSS) which is where a lot of people store their life savings has been raided by the present government to fund the Food Corporation of India (FCI) in a very scandalous way to artificially hide the fiscal deficit. The Life Insurance Corporation (LIC) has also been plundered by the present government and most recently the Reserve Bank's coffers have also been raided.
The GST collections have fallen, the employment figures have skyrocketed to being the worst in over 45 years and now the govt has stopped releasing unemployment data, all the largest industries are in turmoil. Commercial vehicle sales have shown nearly a 60% dip.
But the govt continues to spin stories of how things are just wonderful. Modi continues to fly on tax payer money to meet his overseas supporters and to hug Trump.