Over the last four-and-a-half years, the Bharatiya Janata Party-led National Democratic Alliance government has done much to constrict Indias economy.
Demonetisation hurt the smallest businesses: those of the self-employed. Their incomes are yet to return to pre-demonetisation levels. Many slightly bigger businesses, like small and medium enterprises in industrial clusters like Surat in Gujarat and Tirupur in Tamil Nadu, closed down after the introduction of the Goods and Services Tax in July 2017.
What has received less attention is the governments ham-handed treatment of the countrys bad loans problem. The governments insolvency proceedings have created a situation where a handful of companies are buying most of the distressed…
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