Modi Economy: GDP up 81%, Personal Loans up 246%

Modi Economy: In 6 years that PM Modi has been in power, personal loans (Unsecured, High Interest) have absolutely taken off

Between 2014 and 2020, GDP is up 81%, on a per capita basis this would be even lower.

Personal Loans went up from Rs 202000 crores to Rs 699259 crores or 246% up

But personal income taxes are up 130%. Per se, the Government’s tax revenue is up 3-4% higher than nominal GDP growth on an average every year. Not to mention that despite Crude Oil Prices going down by 60%, taxes collected on Fuel increased 84%

Modi Economy Underperforms as Bangladesh Catches up

In the meanwhile, Bangladesh whose per Capita was 30% lower than India is inching close. In 2020, Bangladesh is likely to grow around 4.5% versus India at -4%. The Economy is clearly struggling!

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Pic Courtesy: Daily Star