
India's GDP Growth Slows to 5% in April-June - sbmthakur
https://www.thehindu.com/business/Economy/indias-gdp-growth-slows-to-5-in-april-june/article29301252.ece
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ganeshkrishnan
Two big reasons are 1) demonitization which was a profoundly stupid idea and
2) gst which is a good idea unfortunately but it's too high.

There is a very high potential for India given it's sizeable work force but
Modi is a blithering idiot although I must give credit to his accomplishments
which have far exceeded my expectations

~~~
sbmthakur
How did you conclude that this slump and ongoing slowdown is related to
demonetization? As per recent RBI report, cash circulation very much increased
[1].

> There is a very high potential for India given it's sizeable work force but
> Modi is a blithering idiot although I must give credit to his
> accomplishments which have far exceeded my expectations

It would very much help if you explain your points instead of getting started
with name-calling.

1\. [https://wap.business-standard.com/article/economy-
policy/cur...](https://wap.business-standard.com/article/economy-
policy/currency-in-circulation-increases-17-in-fy19-to-rs-21-1-trillion-
rbi-119082901463_1.html)

~~~
ganeshkrishnan
Lots of honest business went bankrupt due to cash crunch. Remember that in
India most of the business are not registered anywhere and are single person
run.

My startup helps plenty of e-commerce startups and we had few clients shutdown
their business.

Modi is a divisive evil idiot. I would still vote for him (if I could) because
there is no alternative. It doesn't change the fact that he is not
respectable.

Case in point, the new born baby that died in the detention center and the
mother was found to be Indian later.

~~~
sbmthakur
I understand that startups and cash/credit businesses were severely hit due to
demonetization which happened in 2016. But that doesn't explain why it is
responsible for current slowdown, which is mainly happening due to drop in
demand in Automobile and Real-estate sectors. I haven't seen economists(even
who are critical of the Government) blaming this slowdown on
Demonetization[1][2].

1\. [https://www.livemint.com/news/india/15-ways-to-define-
india-...](https://www.livemint.com/news/india/15-ways-to-define-india-s-
slowdown-1565715613762.html)

2\. [https://www.quora.com/Do-you-think-demonetization-is-the-
rea...](https://www.quora.com/Do-you-think-demonetization-is-the-reason-for-
the-current-economic-slowdown/answer/Subodh-Mathur-4)

