This is the contagion that many of us talked about which our Bakths and supporters refused to accept.
Demo and GST lead to millions of businesses to shutdown over a 2 yr period, all across the country. And this in turn lead to massive joblessness. Hence the spending reduced dramatically as families began to cut back heavily.
And even those who were still gainfully employed,cut back seeing their neighbours in such trouble.
And the crooks , shut down their existing businesses and completely went underground as full black money business evading all scrutiny from the income tax department. And they also deliberately defaulted on their bank loans, in this process, leading to massive NPAs. Of course scores of businesses closing down also led to legitamte NPAs as the companies could not repay due to business loss.
Hence we are in a deep depression and hence this will take years to rebuild and in the meanwhile, many more companies will go down, and new ones if any will only spring up over many years. That's why I shifted all my money long back to foreign banks, and some know I have one leg here and another across the continent. LoL.
Well, people wanted pakodanomics, and we have got one now !! LoL
