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Forget about today’s Hindenburg report on Adani group – Indian conglomerate, where Adani group’s financial activities are claimed to be unmasked by Hindenburg.
Let’s start from the year 2014 – the inception year of Modi as Prime Minister of India. Let’s talk point wise!
1. Right after the inception of Modi govt into power in 2014, do you remember announcement of the collapse of ADAG (Anil Dhirubhai Ambani Group) – the conglomerate headed by younger Ambani. It was a proper orchestrated conglomerate collapse ever seen by any finance literate guy if you remember which costed millions of dollars to Indian Public sector banks.
2. Then comes the one after one millions of dollars looting of public sector bank money by (so called Modi BJP friends & relatives of Mukesh Ambani) namely diamond merchants Nirav Modi, Mehul Choksi & BJP MP Vijay Mallya. This people how so easily vanished from India is till today matter of confusion in India. As well till today Indian authorities under Modi unable to bring them back to India.
3. Then you can observe bankruptcy of big & small banks in India & big financial conglomerates in India as Yes Bank, PMC Bank, Cooperative Banks, DHFL, where till today its seen how govt. agencies supported crony capitalists to benefit by eroding the wealth of common men. See before 2014 any Indian can’t even dreamt of banks going bankruptcy but now it’s been reality.
4. Again, fiscal policies of Demonization, GST of High tax burden on citizens, are adversely & completely destroying Indian economy.
5. Continued billions of loans waiver to so called friendly cronies on social media viz. Ambani & Adani, is eroding vast wealth of Indian banks.
6. More & more emergency fund of RBI Indian central bank is borrowed by Modi govt. making Indian banking vulnerable to banking collapse in India.
There are 3 digit list of policy failures in both fiscal & administration that are enough to collapse Indian economy whenever this bubble of Modi Hindutva Right wing govt. will burst, whether in 2024 or after 2024.
Columnist, Finance Policy Expert
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