Demonetization seriously messed up everything that could in a economy that runs primarily on cash. Around 90%+ of the indian economy runs on cash basis. Removing the rs 500 caused a panic in the streets.
Followed by the most botched GST implementation ever.
Followed by absurd NRC/CAA implementation.
And followed by the high handed approach of farming laws that severely disadvantages small farmers.
And taxing fuel to death. The prices of petrol in India is higher than in US, Canada or Australia. Also electric cars are not subsidized like what China did.
Now with covid: An abrupt lockdown that accomplished nothing.
And the worst move ever: Running an election campaign and organizing a festival of 12 million people all cramped up next to each other. Even without covid, Kumbh mela is famous for disease outbreaks.
Top it off by bullying any social media that dares question the government.
Yeah no. Not a serious slump. This is a slam in the wall move.