India's GDP Crash: Act of God? Or Act of Fraud? | The Deshbhakt with Akash Banerjee

India's gross domestic product or GDP contracted by a massive
MINUS 23.9% in the April-June period, that is what the official
NSO data said. The data revealed that majority of the sectors are
hit by a negative growth after the lockdown - making this the
worst economic stump in India and also the in the world amongst
big economies.





However in this edition of the deshbhakt we are going to take a
look at how India's GDP was anyways on a downward spiral BEFORE
the virus struck - making the cut deeper for India than any other
country. Even before the lockdown, GDP growth was declining since
the last eight quarters.





The Finance Minister has already said that this time, the decline
in growth is an ‘act of God’ - however data shows that an act of
Fraud has been committed and this depression is not going away
any time soon. 





0:00 - Zor ka Jhatka


1:30 - Act of God? Really?


4:17 - Taxes hit - clear indication 


5:09 - Unemployment secret out!


6:01 - Rural Economy Down


6:41 - Cold wave over the economy  


8:00 - No investment / No money to pay back loans


8:38 - Shrewd politics is NOT Shrewd Economics 


9:18 - Ease of doing business? A jumla 


9:51 - Tax terrorism - an unspoken reality


10:17 - Social unrest - India's Shame.


11:12 - Sab changa si - the solution to all problems





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****** Credits *******





Writer: Akash Banerjee


Editor : Tushar Chaudhary





****Resources*******





https://www.moneycontrol.com/news/business/india-gdp-data-live-updates-india-economy-coronavirus-covid-19-hit-business-5775151.html


https://www.hindustantimes.com/business-news/newsalert/story-VWNA8t2b2VPH8lKmDgM45L.html


https://www.bloombergquint.com/union-budget-2020/budget-2020-india-is-headed-for-its-biggest-tax-shortfall-in-a-decade


https://www.business-standard.com/article/economy-policy/gst-collection-in-september-declines-to-rs-91-916-cr-govt-data-119100101014_1.html


https://economictimes.indiatimes.com/news/economy/finance/the-pushback-over-delays-in-gst-transfers-by-the-centre-is-the-latest-instance-of-states-growing-assertion-on-the-fiscal-front/articleshow/72623644.cms


https://www.indiatoday.in/business/story/india-unemployment-rate-6-1-per-cent-45-year-high-nsso-report-1539580-2019-05-31


https://www.downtoearth.org.in/news/economy/india-s-unemployment-rate-doubled-in-two-years-soe-in-figures-64953