Four shocks of Modi

Modi has given the Indian economy four big shocks; thus causing a slowdown.

1. Demonetization: It was supposed to eliminate black money. In India, black money is held mostly in real estate, gold, and dollars. Only a small percentage of black money is held in cash.
2. GST: No other country has GST of this complex nature with such high taxes. The overheads are huge. It benefits accountants, at the cost of legitimate businesses.
3. IBC: It was supposed to clear NPAs of banks, but the process was clogged with delays and lawsuits. So no creditor wants to use it.
4. RERA for real estate was supposed to safeguard the buyer, but instead, it caused a slow down of the entire sector. Now lawsuits take years to resolve.

The Indian economy cannot be revived in the short run. By taking appropriate measures, the Indian economy can be put on a growth path, in the long run.