👉INDIA Headed towards Economic Meltdown & Bank Closures

India, the seventh-largest economy in the world, just a few months ago, was the world's fastest-growing major economy. Now India's economic growth has slowed down. The picture is grim. Companies are witnessing a sharp downturn in sales. Many foreign investors are pulling money out of the Indian stock markets leading to high volatility . The agricultural sector is down . Unemployment is at its peak. Bank runs; bank closures leading to restricted lending, and collapsing institutions. The Indian financial sector is in big trouble, and the contagion is starting to bite in the real economy. The country's car industry has taken a hit from the downturn. New passenger car sales slumped by 40% in august. Car manufacturing is a crucial sector for employment in the country. India is facing the worst crisis ever since the country formed. In fact, with a low crude oil price, its a time of windfall gains for all developing countries. Many countries are growing spectacularly in Asia and Africa. But in India, things are falling apart, and the country is heading towards a severe crisis. India's economy has long relied on state-run banks, but poor governance and cozy connections with powerful tycoons helped to contribute to a credit crunch. This means borrowers had to find new sources of money. So-called shadow banks popped up, but these less-regulated lenders ceded yet riskier loans, especially to real estate investors. Last month, The Punjab & Maharashtra Cooperative Bank was seized by authorities, and its top executives arrested. About 1.5 Million account holders had seen access to their savings accounts constrained. Resulting in panic and customers demanding their money back. Rumors of additional bank closures spread like wildfire, resulting in bank runs. The run on PMC happened almost precisely a year after the collapse of another colossal shadow lender. That was depicted at the time as a one-off event. But economic growth has since hindered to a six-year low, and investors fear more lenders will go bust. Loans are now more hard to get, businesses find it difficult to extend their activities, and consumers are battling to get loans for houses or just motorcycles. Big shadow banks have seen their share prices plunge, whereas traditional banks are still struggling to retrieve a year's worthwhile of outstanding loans. If more lenders go bust, it could generate a domino effect and diffuse like a virus through the broader economy. Economists say they see echoes of series of events that resulted in the US financial crisis, as once high-flying lenders succumbed to the constraint of bad debt. And they're concerned India's economy could now face a reckoning of its own. India Is In A COMPLETE MESS! India Is Adding 20 Million People a year. Where Are The JOBS? Even the GDP figures are forged and fraudulent. The actual GDP growth in India is nearly around 3.2% to 3.4% only, besides all types of government's claims. Welcome to The Atlantis Report. After years of dynamic growth, India's economy is losing steam. In this country of more than a billion people, domestic consumption is one of the main drivers of growth, but unemployment is increasing, and people's purchasing power has taken a blow. While the government contends that the economic slowdown is momentary and a revival is not too far ahead, for now, the impact of the slowdown is being felt across industries. Car sales are falling, private investment is slowing down, and the shadow banking sector is in a crisis. India's economy is slowly turning down into a domestic economy rather than a global economy. India's slowdown has, without a doubt, been the most under-appreciated aspect of the current global downturn. In Q3 this year, the Indian economy reached a 6-year low at 4.5%, down from 5% in the previous quarter. All the main indicators point out it will get worse. And all this started with demonetization. Demonetisation was a historic blunder. Indian economy is plugging with a liquidity crisis, which is not being released by banks after demonetization. Almost all Small and medium-sized enterprises sector works on cash with meager profit. Unless the money is issued by banks, the business is hardly going to revive. Modi invested in areas such as defense detailed taxpayer's money without creating jobs. There are many incomplete roads and railway projects that are ill planed with no viable return. One of the main reasons for the slow economy was demonetization and faulty GST. It was GST that has stymied India's economic growth. GST has made things expensive as now all services charge GST over and above go to the consumer. The GST implementation was all wrong. The GST just killed small scale industrialists in India. Small scale industrialists are the backbone of any countries economy. When you kill them, you kill the economy and the GDP of the country. Indians love to evade taxes and have been doing so for decades and now hate KYC, GST. Only about 5% are paying taxes, and most businesses launder money through hawala and gold. Modi tried to destroy the informal economy, to incorporate it into the formal economy so that he can show high growth. But it backfires very severely. Now many companies are shifting their operations from India to other countries like Bangladesh, Vietnam, and the Philippines. Add to this high corporate tax rate at 30%; corrupt bureaucracy; trade unions; lack of infrastructure; poor quality education; lack of social welfare schemes such as free health insurance and social security; poor quality governance; Bad financial plans; And Tax system with 28 % tax on goods. They got to have those taxes to pay the politicians and bureaucrats. Keeping all old banking system and tax system of the former British law system. The government is more concerned about farmers who constitute 60% of the population and contribute a meager 15% of the GDP. While manufacturing and service sectors are not just ignored but penalized with excessive taxation. India's economic growth numbers have always been a Mirage. Every sector is slowing down. Actually, the growth of the Indian economic less than 3 %. While India's economy has more than 8% growth potential, but Modi government decisions like demonetization new tax system GST; were a disaster of the Indian economy. India is slipping in ranks; substandard living; ultra corrupt politicians; system; uneducated or semi-educated rural population; rampant crimes; and worst is ultra corrupt leadership controlling the government, which all resulted in a total disaster. India is beyond help. It will make Haiti look like a garden in 15 years. India has been screwed since the 2016 money crackdown. Having a larger wallet sucking government is never good for the economy! Messing with the Indian currency messed with the economy. Even though it appeared to recover, the damage was done to the trust in the currency due to the blatant act of the government. If India's economic slowdown continues; It would be the most significant recession ever since independence. Yet India is one of the wealthiest countries. Indian women currently hold around 21000 tonnes of gold, which is more than the gold reserves of the top 5 countries. The entire value of this gold is nearly 1 trillion dollars. If gold is accepted as the currency worldwide, India would be the richest country in the world. Insufficient funding on heavy Industries and high rates of Agricultural byproduct also held India back on the economic front. And It's not just India. There is a Global recession throughout the World partially due to Trade war. What's behind the pain. Well, quite simply India itself. Regardless of how you play it, reality always catches up. India has addressed next to nothing over the years as it simply doesn't have either the ability, will, or know-how. They can cry, make excuses, and blame everyone else, but once the borrowed money both privately and publicly runs out, India's artificial growth falters with social consequences and protests. I think India must focus on infrastructure development rather than military investment against Pakistan, foreign affairs interruption over Nepal, and China. Last but not least, extravagant festivities like Marriage and Dussehra-Diwali. I mean, make it possible to inhale fresh air after Diwali for a Month. And the one million armies deployed in Kashmir will certainly drown the Indian economy. 20% of minorities feel that they have no economic future, and they just work to live. In addition, 15-20% lower caste also share the same feeling; in a country where 35-40% population are hopeless and helpless. Indian economy is a bubble which sooner than later burst. Investors already realized it. The political system doesn't support continued economic growth. From nothing to something is easy, but from something to big thing is difficult. Democracy has made many countries rich, but if you paid attention to these countries, they had been rich. A country like India, which has always been poor since its independence, requires a more concentrated power that can make things happen. I'm not suggesting the system in China is a solution, but if you look at Singaporean's system, it's a hybrid but towards more to the Chinese model. The Chinese model in all probability won't work out in India because of India's substantial ethnic diversity. 90% of Chinese are ethnic Hans and speak one language. In India, only 40-50% speak Hindi, and the caste system further divides the majority ethnic group. The poorest areas of China are ethnically different from the majority Han Chinese , such as Xinjiang and Tibet and have a history of separatist movements. India, I think, will work better under the EU model, i.e., stable provincial governments with a devolved form of government. One could argue that democracy and liberal capitalism does not work well for a vast, rural, poorly educated, country such as India. Elections after elections, the weak, democratically elected governments can only narrowly focus on short-time economic policies that lack long-term visions to make the country more competitive long term. These long-term policies can cause short term economic pains that most Indian governments don't dare to venture into. Not that the Indian policymakers are stupid. But the system has severely restricted what they can do. Elections after elections have turned into beauty contests, making all the bold promises that, once elected, found themselves are simply too weak to fulfill. Modi and his council of ministers; no one has a clue about how to run the economy. Factories are closing every second; jobs are being lost. Modi promised 20 million jobs each year. Modi has failed and failed miserably. India added 1/20th of what China added to its GDP in 2018! China added 1.4 Trillion USD to its GDP last year, while India only added $ 70 billion. The question is, how will India ever reach Chinese level. India's GDP growth is not 5 %; because the government has recently changed the parameters and formula of computing GDP in order to show a figure in its favor. Accoding to economists the GDP growth is actually just 1% or maybe worst. Modi Government has destroyed all institutions such as Judiciary, education, police, student unions by inducting BJP mindset loyal. The economic conditions are on the brink of disaster and decline trend. Causing unemployment and hunger to compel the public for looting and snatching. The government has no emergency solution plan in the near future. At present, the total wealth is accumulated in the hands of a few rich men of upper-class businessmen. About 1% of rich men have accumulated about 77% of the total wealth of India. And they grow their capital, and political power is in their hands. The poor, majority of Indians are getting poorer day by day with uncertainty, remaining in grieve situation. Hunger and unemployment are increasing day by day with no hope near future. The government in the hands of their masters, a few rich men of upper-class businessmen. And the corrupt BJP Government system deciding every issue against them, the poor. We presume a violent thunderstorm, which leads to protests and riots in the near future. India is done. This is just the start of the Indian economy's death. This was The Atlantis Report. Please Like. Share. And Subscribe. Thank you.






The Financial Armageddon Economic Collapse Blog tracks trends and forecasts , futurists , visionaries , free investigative journalists , researchers , Whistelblowers , truthers and many more