My "apocalyptic" view on Indian Economy
I am indulging in some doomsday soothsaying. Just for the heck of it. Whether it makes any sense to you or not, it does not matter. For now, this doesn't make any sense to me either :-D Our economy seems to be behaving like a tired snail! Reserve Bank of India has cut the repo rate 4 times in the past 12 months. They usually announce repo rates every two months. So, 4 out of 6 times they announced rate cut. In last 1 year, from 6.50%, the repo rate has been brought down to 5.40%. The repo rate controls the availability of funds to the investors and businesses. Lower the rate, higher the demand for the money. Or, that's what I understand from my limited knowledge of the financial market. The Government data showed that the GDP growth has slowed down to 5%. Whatever that means. I am told it is not good, okay? In August 2019, Indian banks have written off Rs.2.54 lakh crore in bad loans. Written off. Just to get their books to show lesser NPAs. I wish I had taken just ...