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indian economy - Acharya may have finally saved our country !!

Indian economy is tottering due to the demonetisation disaster. It is total systemic problem now.,

in the ongoing contagion, all our banks are collapsing under massive NPAs, NBFCs are about to collapse, most major companies are running out of daily cash, msmes are running out of cash, etc... And the govt is completely clueless on how to handle this.

in this major crisis, the govt wants the rbi to handover the 3.5 lakh crore cash so that they can further sink this money into the economy. All the money will be lost and we will have no protection against any bank collapse.

Rbi is handling tis correctly by releasing 40000 crores in Nov to manage the credit rollover, but the govt is not allowing them to function as they are desperate to revive the economy before the elections. But this desperation will lead to another set of wrong policies.

in this speeding train without any brakes, Acharya by his act of open rebellion and specifically mentioning India will collapse like Venezuela may have saved the country.

post his speech, the pressure on the govt is immense and IMF has warned the govt against raiding the Rbi. Indians are generally scared of IMF and foreign interventions, so has decided to back off attract partially.

instead of taking the entire reserve, they are now demanding 1 lakh crores, this is also big disaster but better than catastrophic disaster and at least we will have 2.5lakh crores to manage any immediate bank collapse.

by then we will be in the elections and hopefully a new coalition govt takes over to set right this mess. Even if the current govt comes back, they will not have this kind of majority and the coalition partners can dictate terms.

hats off to acharya !!! Let's keep our fingers crossed that our economy recovers from here on,

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