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Current govt caused the recession. The damage demonetisation did (especially to the poor) is painfully obvious. No significant upside. The reduction in economi
by nit_ 7y ago
Current govt caused the recession.
The damage demonetisation did (especially to the poor) is painfully obvious. No significant upside. The reduction in economic activity was so pronounced that satellite images could pick up on it.
Growth rate tanked. It's now lower than that of Pakistan which is ironic considering how much the current regime likes to use them as a distraction.
They're also responsible for the longest and the most number of internet shutdowns in the history of any democracy (It's still going on).
Horrible civil rights record.
Minorities are definitely not better off. Statements like that are just propaganda.
- sbmthakur 7y ago> Current govt caused the recession. The damage demonetisation did (especially to the poor) is painfully obvious. No significant upside. The reduction in economic activity was so pronounced that satellite images could pick up on it. Growth rate tanked. It's now lower than that of Pakistan which is ironic considering how much the current regime like to use them as a distraction. Could you share any references for this?
- nit_ 7y agoThis planet money episode explains it pretty well. https://www.npr.org/2019/09/25/764433918/episode-770-when-indias-cash-disappeared https://www.npr.org/2019/09/25/764433918/episode-770-when-in... NBER report: https://scholar.harvard.edu/gopinath/publications/cash-and-economy-evidence-indias-demonetization https://scholar.harvard.edu/gopinath/publications/cash-and-e...
- sbmthakur 7y agoThank you for sharing.
- vijaysagar 7y agoAgree with the part about damage caused by demonetization. >>Growth rate tanked. It's now lower than that of Pakistan which is ironic considering how much the current regime likes to use them as a distraction. This, I disagree with. Do you have references? >> Minorities are definitely not better off. Statements like that are just propaganda. Which minorities? Citation needed.
- nit_ 7y agohttps://www.news18.com/news/business/indias-gdp-growth-hits-3-year-low-of-5-7-as-gst-demonetisation-take-a-toll-1506177.html https://www.news18.com/news/business/indias-gdp-growth-hits-... This was a few months ago. India's annual growth rate is still higher than Pakistan's. https://www.reuters.com/article/india-economy-gdp/update-2-indias-gdp-growth-hits-6-year-low-more-stimulus-expected-idUSL3N25Q3OB https://www.reuters.com/article/india-economy-gdp/update-2-i... All minorities: https://www.nytimes.com/2019/12/20/world/asia/india-muslims-citizenship.html https://www.nytimes.com/2019/12/20/world/asia/india-muslims-...