Heroic Leader, Fearless Government; Bad on economics

This government is being run by an exceptional orator with a great sense of emotional intelligence of this country that further fuels this government to take some bold (or not so bold) decisions.

While looking at some of the major decisions that government made, I was also able to understand government’s failure in making the same impact on economic conditions when the economy was bleeding and crying for help.

Take a look: -

1.September 2016 

• India carried out a surgical strike after attacks in Uri. The media coverage increased enormously, and everyone exhibited their patriotism. 

What happened to the economy in the background?

• Markets slumped by ~500 points, Rupee depreciated by ~40 paisa against Dollar, 
• Volatility spiked in the markets resulting in higher fluctuations, etc.

2.Fast forward to Aug 2019

• The Government of India revoked the special status, or limited autonomy, granted under Article 370 of the Indian Constitution to Jammu and Kashmir.
• Communication lines and Internet shutdown for months.

State of Economy in the background?

• Indian economy set for weakest quarter (Apr-Jun) of growth in 5 years
• Top indicators of investment and consumption showed massive declines
• Car sales plummet 41% in Aug; nine consecutive month decline

3.December - 2019

• The Lok Sabha passed The Citizenship (Amendment) Bill, 2019 on Monday (Dec 2). The legislation seeks to make it easier for non-Muslim refugees from Pakistan, Bangladesh and Afghanistan to gain citizenship in the country.

Economic conditions in the country: -

• The unemployment rate still high at 7.48% for the month of November.
• India's economic growth has decelerated since mid-2018, with real GDP growth slipping from nearly 8 per cent to 5 per cent in the second quarter (April-June)
• India's real GDP growth in FY20 to come below 5%: IHS Markit
• India now in the midst of major economic slowdown, urgent actions needed: IMF

Now, we might have our opinions on these decisions that government made and how it impacts us or the people of this country. But the fact remains, the audacity and guts of this government have not yet been experienced by the economy.