Veteran BJP leader and Member of Parliament Subramanian Swamy in his book, ‘RESET: Regaining India’s Economic Legacy’ claimed that Modi’s dependence on his inefficient friends and ministers has led to the economic crisis. According to the excerpt from Swamy’s book published by the Print, Swamy stated, “Narendra Modi has an unstudied familiarity with microeconomics but not macroeconomics and its intricacies of inter-sectoral economic dynamics.” He added “But this same lack of academic background has made him dependent on his friends and chosen rootless ministers, who never tell him the bitter truth about the economy or explain the macroeconomics or that he needs to figure the way out of a crisis.”
Blaming demonetisation and GST for nosedive of the Indian economy, Swamy claimed, “Hence, we have witnessed the folly of demonetization and the inanity of the Goods and Services Tax (GST), both of which have accelerated the tailspin of the economy.”
Pointing out the inefficiency of Modi’s political and economic advisors, Swamy wrote: “His reliance on unelectable political advisors and colleagues for clues on the complex subject of the economy, which they know little about, or even lettered but timid economists appointed by him to posts of huge perks, results in them telling the prime minister only what he wants to hear. This is a frightening potpourri for the nation.”