India's current slowdown is largely of the government's own making. The surprise cancellation of $218 billion in rupee notes in 2016 ruined the prospects of the rural economy and businesses in the informal sector. The badly designed and poorly implemented goods and sales tax, or GST, led to a compliance nightmare which is suffocating smaller businesses in the formal sector.
Opinion
2020 look ahead: Politics and protectionism to dominate Indian economy
Slowing growth needs corporate kick-start, but Modi only offers distractions
Narendra Modi has embarked on implementing his party's core political projects and he will continue on this track in 2020. © Reuters
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