Incompetent India

Indian politicians and bureaucrats are incompetent. e.g.

• Most Indians keep their black money in real estate/gold/dollars. Yet, demonetization was touted as a tool to reduce black money.
• GST was so complex that rules have to be changed, again and again, many months after it came into force.
• There was no proof that lockdowns reduce virus infections. Yet, severe lockdowns continue in India even one year after the first lockdown.
• In this week, interest rates were reduced. Then politicians remember that state elections are going on. So to appease voters the reduction was rolled back within hours.

In India, we see constant fire-fighting, rapid change in policies/rules, and rampant corruption. It continues to be a surprise that foreign investors still consider investing in India. Indian economy is in Stagflation and recovery is still far away.