Lets accept realities about the economyThose who are die-hard supporters of the ruling New Delhi dispensation often sing peans of praise about the rulers. The rather insane argument about the economy is that someone is undoing what was done in decades and hence six years is not enough to do anything.
Those who advance such rather essentially absurd arguments are missing the woods for the trees. Long before Covid, the real employment in terms of regular jobs was declining year after year. The Govt allowed contractual employment and literally brought the unorganized sector and the small scale sector through demonitization and the ill-managed GST,to the greatest misery.
The cheap Chinese goods sold like hotcakes. The big Indian brands announced "extra" offers every single day and had reduced profit margins. Those without regular jobs were left in lurch.
The banks still have liquidity problems today, only because of steep decline in demand. Even today, in hundreds of districts where strict lockdown is not enforced, one can find millions of takers for cheap food sold on pavements. This is one sure sign of where the economy is heading. There is just no big money to spend.
The game is one of survival for millions. Let us accept mistakes and at least now stimulate demand though the best economic actions. We are yet to see any big revival of demand at all. And this is the crux of the big story of the biggest economic decline since Independence.