Modi’s Cash Crackdown Failed, Indian Bank Data Shows

Re:Modi’s Cash Crackdown Failed, Indian Bank Data Shows by statguy on Monday September 03, 2018 @08:45AM (#17902272)

It sounds exactly like a dictatorship. A prime minister with little to no economic knowledge (heck he doesn't even have an undergraduate degree) making a far reaching policy decision on the advice of a charlatan economist along with a few cronies, while keeping the MIT educated central bank chief in the dark.

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Re:Modi’s Cash Crackdown Failed, Indian Bank Data Shows by sseth on Monday September 03, 2018 @09:28AM (#17902461)

I am a great fan of Raghuram Rajan, and used to be one of Manmohan Singh as well. But Manmohan Singh's reign as PM can only be counted as an unmitigated disaster, his economic credentials notwithstanding.

The huge NPA crisis that you see now happened under his watch. The Air India deal, the 2G scam etc etc. It is conveniently forgotten for example, that under Manmohan Singh in 2010 the congress government declared that more bank licenses will be given out, flatly contradicting the RBI whose job it is to issue these licenses.

By the standards we are holding this government to, almost any government prior to this would be called a dictatorship.

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Re:Modi’s Cash Crackdown Failed, Indian Bank Data Shows by statguy on Monday September 03, 2018 @09:52AM (#17902564)

As bad as those scams may have been, the amount of suffering brought on to the general public by demonetization was several orders of magnitude higher.

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