Harvard University graduate and the only economist ever born in India says that Narendra Modi doesn't know any Economics and is a disaster

Let us understand this with an example with facts

Pre 2014

Before Modi ji took over as PM, the unbanked population in India was more than 58 Cr. Most people even with banks use to do business in cash.

Take an example of a chai wala

A Chai wala sells 200 cups of tea everyday costing Rs 10 per cup. His daily revenue was 2000 cash, monthly 60000, and annual 7.2 Lacs

He keeps this cash at home, buy raw materials with cash, and full stop. His cash was only used to make his living not improve. He has zero bank support

Post 2014

Modi ji opened the Jan Dhan Account as his first attempt at financial inclusion of the neglected population. Today more than 55 Cr people have Jan Dhan account

The next he brought in DeMo. Almost 90% of black cash business was wiped out which was not just killing the bank but even the poor was not getting any benefit from growing GDP

The next what he did was a gem of planning and a detailed part of blue print. With Jio he forced every internet provider to reduce data rates from Rs 250/GB to just under Rs 5/GB

Next, he brought in UPI which was a complete data drive product. Its implementation was somewhat forced but it was the best decision in favor of the poor. You know how the UPA Finance Minister and opposition laughed at it

As time passed, the UPI penetrated deep up to last man in line. Today you can even pay Rs 1 via UPI

The impact it had on the poor and Chai Wala as an example is that now he collects revenue from his business via a QR code which goes directly into his account. His banking activity increased like never before and the bank is happy with his Money he is now on the credit score scale in green

Now since he is banking and his score is green, its time for the bank to step in and offer a loan. For a 7.2L annual revenue, the bank is ready to give him an approved Loan of 5 to 10L

In place of private lenders, he now gets loans from the bank at a very attractive rate which helps him expand his business

Now more business, more revenue, More banking, more availability of money, and more income. The cycle which was not moving for the last 70 years started rotating. Now this Chaiwala is part of GDP and can enjoy the fruits of a growing economy

Now Chaiwala get the opportunity to expand, no fear of robbing, clean business, Govt get tax, Mobile operator get better revenue,

This is the reason why India's projection is top in the world when most developed nations are witnessing a recession

This is Kautilya Arthashastra, firing up the bonfire from bottom of the Pyramid and hence Sanatan economies

Now honestly tell me who is better educated on the economy.

Swamy or Modi

Remember, it's not the degree that matters, it's the ground understanding, and needless to say, Swamy has zero knowledge of ground facts along with his students. He is just a Harvard bubble

LEADER don't amplify problem, they define it
Dr Gaurav Pradhan