Inherited an economy with bubble. Real estate prices all time high. GDP falling. Very high inflation. On the verge of downgrade to junk. In fragile five
So what were the options. Banks sitting on NPA not revealed. Out of equity. Builders cheating innocent buyers by siphon off money to their luxuries. No order
2. Demonetisation to remove bubble in assets. To bring more money to economy. Result. Higher tax base. 3 lac shell companies detected. More than 2 lacs directors disqualified. Tax base increases substantially
3. GST. A reform long pending. But no government had guts to implement it. Thanks to Late Arun Jaitley Sir that he got all on board. Check countries who implemented GST. They suffered huge inflation. 5 years of Modi. Inflation in control
4. RERA to discipline builders to give possession on time. Affordable housing for those who always dreamt of their own house but never got it. DBT of subsidies to cut middleman. For that open bank accounts for all
5. Bankruptcy Act to bring defaulters to Knees. Yes NCLT spoliledit for one year. But SC decision now on Essar Steel paves way for faster resolution of 9 lac crores NPA due to phone banking of UPA
6. Recapitalisation of PSU Banks. Loan Mela. Trying to fix PSU and PSB with accountability of officers. No promotion on term basis but on performance
7. Catch is that with fall if real estate corrupt builders refused to pay loans to banks and NBFC. So NBFC defaults trigger. Now to fix it 25 lac crore for last funding Si that innocent house buyers get their houses. NBFC and HFC get their business back
8. Issue is that whatever PM does, people find faults. He inherited a stinking house. He had to clean it to make it a castle. These reforms are pain. But with passage of time you will realise how they are adding to India

Latest one corporate rate cuts
9. Many more to follow. Scrapping policy, LTCG and taxes on middle class. But have patience. Resources are limited. Every country is going through this. But India will come out as winner
10. Is due is that Modi haters find fault in his every move. Rather than thanking him for lower tariffs on telecom they busy in what Ambani earned. Rather than thinking what BPCL will gain post privatisation they spread that he selling India
11. I have also criticised MOF on many things. Like LTCG or GST officers not acting well with exporters or not being proactive with NBFC crisis

But that is different. I know this GDP number will change to 6% very fast. And if it does MOF then troll me with any abuses
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