Why did Narendra Modi impose demonetization, and what have we achieved from it?

Congress era Oxford educated economist PM Dr. Manmohan Singh had reported PSU bank NPAs at 37%, but they were actually 82%. What a huge lie and banks were on the verge of collapse. The total NPA was 56 lakh crore rupees.

Imagine the newly appointed PM's experience when he was confronted with this truth. What state would the country have been in if the banks had failed? Economic chaos would have turned into social chaos, the country would have been engulfed in terrible crises. Another repeat of economic collapse of 1991?

The new PM would have fallen victim to it, and the same opposition, mired in statistics, would have been blaming Modi for its own sins. Demonetization of November 2016 broke us out of this vicious cycle. Banks immediately received a lot of cash. Then, the crackdown on bank defaulters began, and assets worth thousands and lakhs of crores were seized including fugitives like Vijay Mallya. Anil Ambani regularly going to the Supreme Court as he fights huge corruption and loan defaulter allegations.

People are upset with Modi on many issues, but they have no idea how hollow the country had been in 2014. The economy collapsed to less than 5% annual GDP from a high of 10% plus GDP growth in 2010. Dealing with defense, internal security, foreign policy, economic chaos, social strife, and snakes in the grass simultaneously is a very difficult task, requiring prudence and political will.

We are beginning to see the deep roots of traitors due to Modi's rule. Poisonous creatures still linger everywhere in the form of leftists, communists, urban naxals and librandµs—in the media, educational institutions, and the judiciary.

Amidst all this, Modi is working to protect the country while remaining safe himself. We have full faith that Modi will certainly fulfill our hopes and aspirations. This is the time to break the teeth of these poisonous creatures. Modi needs our meaningful support. Indians need to stand with him with patience. With impatience, we will not only lose Modi, but also hand over the future of the country and our children to those same anti-nationals who are on the payroll of CIA cabal, George Soros ecosystem etc.

Banking NPA turnaround under ‘chaiwala’ PM Modi

Congress and communists are only good at naxalite attack

Picture Source: Google / Respective rightful owner

Most bad loans from UPA era, banks to blame for NPA crisis: Raghuram Rajan
Former RBI Governor Raghuram Rajan told a parliamentary panel that a large number of non-performing assets were given between 2006 and 2008, when the UPA was in power, and that public sector banks for to blame for the bad loans problem.
Banking Sector Revival as India Records Historic Low NPAs - Current Affairs Usthadian Academy
Banking Sector Revival as India Records Historic Low NPAs

 

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