20 Reasons Demonetization is Worse Than US Subprime Crisis
January04, 2016 (C) Ravinder Singh email@example.com
There was total mismanagement of Economy due to gross Incompetence of key Drivers of Financial Management. Raghuram Rajan was sidelined and dullards like Amitabh Kant and Arvind Panagariaengaged. With installation of Urjit Patel, the extreme dullard there was no protection against Weird ideas.
US Economy was and is fine and at the time of Subprime Crisis – US was prime mover of Innovation in the world and US Companies operated businesses worldwide. Its Agriculture was Robust exports were over$100b, Everything was sound – Banks were overflowing with money and ‘Funded Home Loans well beyond the Buying Capacity or Needs of US citizens’. Even at the peak of Subprime Crisis Obama Administration to protect Deposits of Public in Banks and Stocks assisted Banks but did not give free aid – Government released for Equity in Companies.
From the very first day BJP government started massive investment in WEIRD INFRA projects borrowing money from Banks that were CORRUPTED and not viable. To prop up falling companies – Government lowered interest rates for Corporate – This led to 1. DRYING UP of Bank Deposits.
India was already Battling 2. Housing sector, 3. Agriculture, 4. Industry, 5. Exports, 6. Foreign Investments, 7. R&D, 8. Oil & Gas, 9. Healthcare, 10. Education, 11. Water Storage & Sewage Treatment, 12. Trade, 13. Railways, 14. Urban Transport, 15. Jobs, 16. Low Tax Collection, 17. Growing Urban Rural and Rich Poor Divide, 18. Social Unrest, 19. Tension on Borders, and 20. Growing GHG and Pollution.
Secondary Sector – Index of Industrial Production was 176.9 in March2015 inched up barely to 179.5 in September2016 or 1.5% in 1.5 years. Per capita Growth was Negative.
Primary Sector – Agriculture Was Negative due to Drought.
Tertiary Sector – Services & Trade was booming But For All Wrong Reasons – Rail & Road fares were increased even as Crude Prices fell by half, Moneylending, Hoarding of Commodities, Import of Foreign Made Goods, Substantial Increase in Healthcare and Education Costs etc.
Instead of Hiring Technology Leaders & Professionals, GoI let Gadkari, Prabhu, Goyal, Jaitley, Uma Bharti etc to Run the Government.
At this time India is Sinking Ship and No One Is Plugging the Leaks.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph: 091– 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects