Interest Rates Income Tax and Indirect  Taxes: The Real Culprits Behind Our Economic Crisis

In reality, do you know who holds the real power in a public sector bank? It’s not even the ED or MD. A clerk has the authority to refuse duty if it doesn’t align with employee regulations. I truly feel pity for the EDs and MDs—they are merely faces of the DFS, with no real power. Their actions are closely monitored by the board, which is, in turn, controlled by the DFS and RBI.

Our executives seem utterly powerless—they've become mere agents of the DFS, blindly following instructions without any autonomy to formulate policies since 2015. Be it Mudra, SVANidhi, or PMSBY, they simply execute what is dictated.

There’s no focus on genuine priorities anymore. Public sector banks have effectively become platforms for distributing freebies and advertising government schemes, indirectly fueling the growth of private NBFCs and SFBs, while neglecting their core responsibilities.

Interest rates, income tax, and indirect taxes are stifling growth and innovation in our economy. These are the real criminals behind our economic crisis, killing opportunities and slowing progress.