Hello friends A five trillion dollar economy has been promised but in reality, the economy is moving at the rate of 5% In the first quarter of the financial year 2020, our GDP growth rate has dropped down to 5%, which is the lowest in the past 6 years Talking about nominal GDP, it has dropped below 8%, which is the lowest in the past 17 years That is, the last time the Nominal GDP was in such bad shape was in 2003 And don’t forget that many economists have claimed that these GDP figures are manipulated They have been exaggerated and the government has manipulated the numbers, For example, the former Chief Economic Adviser of the Modi government, Arvind Subramanian has stated that.
The GDP growth rate has been overestimated by 2.5% So going by his calculations, the real GDP growth rate at present could be up to 2.5% It is such a terrible state of affairs The manufacturing sector has showcased a growth of merely 0.6% in this quarter which was 12.1% in the same quarter last year The agriculture sector has grown by a mere 2%, while it was growing at the rate of 5.1% last year The construction sector too, has grown by merely 2%.
Financial experts, economists, and intellectuals have been saying for the past three years that our economy is in danger But each time they opened their mouths, what would they get to hear in return? “You’re an urban Naxal. You’re anti-national. You belong to the Khan market gang.” These abuses were thought of creatively and then hurled at them Think about it, had this creativity been applied in the economy, the country wouldn’t have been in this state the environment created by the Godi media at that time And by the BJP IT cell Whenever you looked, the media- both social and mainstream was engaged in issues of Hindu Muslim and India Pakistan Whenever someone talked about the economy, they have stifled In fact the government itself indulged in so much of data manipulation.
How would people become aware of these facts? Prior to the elections, a report was leaked that our country had the highest unemployment rate in 45 years I had also made a video explaining this report to you But no one was ready to agree at that point of time The GDP data was manipulated and the members of the National Statistical Commission resigned in this regard But having manipulated the data and buying out all the media, And having resorted to histrionics of Hindu Muslim and India Pakistan throughout the country you can conceal the truth only for a short period of time The truth is something that will always manifest itself someday And that is exactly what happened This happened because the CEOs of the companies began to say that there was no one to buy their cars The people do not have enough money to buy even biscuits or underwears.
Now they cannot bribe the CEOs of all the companies to lie for them It is not possible to buy out all the CEOs of all the companies and this is why the truth came out in the open The biggest question here is why did the economy reach in such a state? What are the reasons behind this? Come let us examine them one by one The first reason, in my opinion, would be demonetization Demonetization was the point from where the economic growth started to slide I can recall that right after demonetization when 99% of the public was supporting demonetization, then, some of the learned politicians like Manmohan Singh and Arvind Kejriwal had said that this would be a huge threat for the country.
That is exactly what is happening Manmohan Singh had said that the GDP growth rate would fall by 2% and this is exactly what happened All the harmful and even the positive points of demonetization have been summarized in this video You can go watch it. I will not repeat them But here’s a new point: A fresh report has revealed that corporate investment fell by 60% after demonetization This is a huge number and finally people are talking about the falling investments The second point is GST Theoretically, GST is a great thing because it simplifies the tax system But the way in which it was implemented in our country, It was done in a very complex and complicated manner It was very difficult for the common man and the companies to understand it, which led to huge losses.
The third point- Budget 2019, which was brought in a spectacular red colored packet The budget did not appeal to the investors and stock markets worldwide The stock market crashed terribly after it And out of the money invested in India, 22.5 billion rupees was pulled out by foreign investors Ever since the day the budget has been announced The fourth point is Unemployment The conditions are the worst in the past 45 years The people do not have jobs and they are told to sell fritters And the people that do have jobs, are not getting increments, For example, the rural wage growth, that is, the salaries of the people living in villages How much growth it saw? In the financial year 2014, it was growing by 14.6% And now, in the financial year 2019, it has slid down to a mere 1.1% The fifth reason: the attacks aimed at the independence of institutions and public sector companies.
There have been attempts to try and install government sycophants in every institution that do not have any qualifications due to which, the public sector companies have been enduring losses. Take the example of ONGC Sambit Patra was included in the board. Tell me, what qualifications does Sambit Patra Ji have to be a member ONGC used to be one of India’s most profitable companies But it faced a loss of 4,000 crores in gas production in 2018 Why exactly this happened has been explained in detail by an article in scroll There are reports that 54,000 jobs of BSNL are in danger Hindustan Aeronautics Limited HAL has been sitting on its worst cash balance in the past 15 years HAL had to borrow 1000 crore rupees to pay salaries to its employees The next reason is the scams and frauds in the banks that the media does not tell you about In 2018-19, there has been an increase of 74% in bank frauds, in comparison with the last year This is stated by the RBI report itself Bank frauds worth 71,000 crore rupees took place in the past one year Keep listening Between 2014 and 2017, the government has written off the loans worth Rs 2.4 lakh crore in public sector banks It was said that fake currency would get eliminated after demonetization.
This year, there has been a huge increase in this too 21800 fake notes of 500 rupees have been found this year Last year, this number was at 9800 On top of that, the government itself is facing a crunch The government has taken 1.76 lakh crore rupees from RBI’s fund And the most important reason in my opinion- the lack of intellectual and learned people in the government In today’s times, there is a glaring lack of economists with independent thoughts in the government But this hasn’t bee the case always Gradually, all the learned people resigned. For example, first Raghuram Rajan Ji resigned in July 2016 In August 2017, The VC of NITI Ayog resigned In June 2018, Chief Economic Advisor Arvind Subramaniam resigned In December 2018, RBI governor Urijit Patel resigned In June 2019, RBI Deputy Governor, Viral Acharya resigned In January 2019, the independent members of the National Statistical Commission resigned One after the other, all the learned people and economists kept quitting the government Now.
the government only has specimens and sycophants left Such specimens who believe that the internet was invented during the time of Mahabharata Newton’s gravity were first mentioned in India Drinking Gaumutra cures cancer Evolution is rubbish Such people run the government. Do you think they’d be able to run the economy? I’d like to tell you one last reason which isn’t so important but the “godi media” will exaggerate it The economic slowdown worldwide and the ongoing trade wars between the USA and China The godi media will say that is the sole reason behind the economic crisis of India But this isn’t the truth It is definitely slightly important but it will not affect India greatly Because the ongoing trade wars between USA and China Think about it: Shouldn’t China be affected negatively or not? But China’s economy is growing by 6.2% in the same quarter while the Indian economy is growing by 5% I’d like to tell you that the Chinese economy is a 12.5 trillion dollar economy India has yet not reached 3 trillion dollars.
The bigger the economy is, the more difficult it is for them to maintain growth To maintain a high rate of growth, For example, you will notice that the USA is the biggest economy Its GDP growth rate is merely around 3% 3% is a decent growth rate for such a huge size But India’s size is remarkably smaller in comparison with China Despite that, the Chinese growth rate is better than that of India What does this show? What does this prove? The economic crisis in India is due to Indian reasons So the government is taking steps to revive the economy. For example, bank mergers have been announced 10 public sector banks will be merged into 4 The godi media says that this is a huge reform that will revive the Indian economy Think about it: What will happen if a bank incurring losses is merged with a bank gaining profits? The profit and loss would balance and become neutral How would this improve the Indian economy? No idea.
So the coming times would tell us about these bank mergers and other reforms by the government and how much have they helped in reviving the economy In my opinion, the first step of the solution is extremely simple to Give a place to the learned and intellectual people in the government and give them the independence to function Turn out the sycophants in the various institutions and let the qualified people take their place because the economists know what to do in such situations You can see a live example of this solution in our country Look at Delhi While the entire country’s economy is sliding towards a slowdown, the Delhi state economy is growing rapidly Delhi economy booms, people earn more This article of February 2019 has stated that the State GDP growth rate of Delhi is at 8.6% It has been increasing since the past three years- 7.5. 8.5 and now 8.6% There has also been an increase of 17.6% in tax collection And this is despite free water supply, the supply of electricity at half prices, and free mohalla clinics Free world-class education is being provided here I’m not indulging in the promotion.
This is the reality You can read the article and see why this is happening here Why do you think this is happening? When Delhi is present inside the country The GST and demonetization happening in the country will also affect Delhi How has Delhi been able to maintain such a strong growth rate despite this? In my opinion, the reason for this is quite simple. The Chief Minister of Delhi is IIT educated and a learned man While on the other hand, the Central government is replete with ministers who are questioned upon their fake degrees It is filled with sycophants that do not know beyond Hindu Muslim and India Pakistan And I’d like to reiterate that Arvind Kejriwal hasn’t paid me to make this video This is the reality. The sooner you understand, the better it will be for the country This is the article and I have provided the link of the article in the description If you read it, maybe you’ll understand how this was possible. I will also make videos on this in the future And this isn’t the sole region where this is possible. Hyderabad is another great example of this Wherever you elect learned politicians, you’d also witness economic growth In the upcoming videos I’d also like to focus on individual solutions.
What can you do in your personal life to minimize the effects of economic slowdown Irrespective of whether you are a Modi supporter or not, You should accept the fact that economic slowdown is not a joke. It is not a good thing for the economy We all should work towards preventing this and boosting economic growth Finally, I’d like to say that GDP isn’t the sole criteria for development So it should not be that we compromise on other things and focus only on GDP growth Because happiness, human development, clean air, a clean environment, peace of mind All these things are vital for development Share this article if you like.