Two big reasons are
1) demonitization which was a profoundly stupid idea and
2) gst which is a good idea unfortunately but it's too high.
There is a very high potential for India given it's sizeable work force but Modi is a blithering idiot although I must give credit to his accomplishments which have far exceeded my expectations
How did you conclude that this slump and ongoing slowdown is related to demonetization? As per recent RBI report, cash circulation very much increased [1].
> There is a very high potential for India given it's sizeable work force but Modi is a blithering idiot although I must give credit to his accomplishments which have far exceeded my expectations
It would very much help if you explain your points instead of getting started with name-calling.
Lots of honest business went bankrupt due to cash crunch. Remember that in India most of the business are not registered anywhere and are single person run.
My startup helps plenty of e-commerce startups and we had few clients shutdown their business.
Modi is a divisive evil idiot. I would still vote for him (if I could) because there is no alternative. It doesn't change the fact that he is not respectable.
Case in point, the new born baby that died in the detention center and the mother was found to be Indian later.
I understand that startups and cash/credit businesses were severely hit due to demonetization which happened in 2016. But that doesn't explain why it is responsible for current slowdown, which is mainly happening due to drop in demand in Automobile and Real-estate sectors. I haven't seen economists(even who are critical of the Government) blaming this slowdown on Demonetization[1][2].
There is a very high potential for India given it's sizeable work force but Modi is a blithering idiot although I must give credit to his accomplishments which have far exceeded my expectations