Despite worsening fiscal situation, slowing economy & yawning trade deficit, Moodys pressured to give Modi a bone ahead of Gujarat elections.
At least this time, people are thoroughly disgusted with Modi.
Indian government has failed in everything. It cannot provide a guaranteed supply of water/electricity, good schools & colleges, health services, road and rail services… India is at the bottom of human development because of inept politicians/traitors/swindlers. Yet, somehow people here have strung together a living and Modi wants to spoil that – just to protect his masters’ investments on e-commerce companies.
After demonetization, the complicated GST has dealt a blow to manufacturing. Yet, World Bank finds India has improved in ease of doing business? Maybe to save Modi in Gujarat elections!
After GST was passed, Jaitley & Co claimed that Indian sovereign rating will be raised. Contrary to their previous claims of how important GST was, rating agencies let out a big yawn and drew attention to the fiscal deficit & asset quality issues in the banking system.
There is never any final set of reforms. There will always be new “urgent reforms” and pending bills. The goal posts will always be changing. Like asking dogs to fetch a stick, different political administrations will be given different task and different reasons. Old politicians will be cast off when their usefulness has been exhausted. Permanent reforms until the democracy has become part of a global fascist dictatorship.
Like loyal dogs, our netas are eternal optimists & are once again looking for more “good dog” taps on the head.
People in Gujarat are seething in anger over job destruction and crop losses. If Modi tries to use World Bank’s bogus talking-point ranking in his election talk, it will only cost him more votes. Of course, Israeli con artists will have to be called in again to tamper the voting machines.
DoT’s order asking mobile phone service providers to do e-KYC instead of KYC is a violation of Feb 2 SC order.
eKYC required by banks is a violation of banking and money-laundering rules.