As if the failure to curb the menace of black money was not enough, another startling revelation has come to light. As many as 23,000 dollar-millionaires have left India since 2014, out of which 7,000 left in 2017 alone, taking India to the top of the exodus charts. India, with 2.1 percent of its rich leaving the country, even exceeding China (1.3 percent) and France (1.1 percent).

Head of emerging markets and chief global strategist at Morgan Stanley Ruchir Sharma, while presenting the data last week, said that the corruption drive had led to considerable collateral damage of the “regulatory overkill”. This exodus will also lead to India losing out on the economic benefit of investments and consumption by these super-rich individuals, reported the Economic Times.

First, there are Indian fugitives who owe banks Rs. 50,000 crore. Just last month, diamond czar Nirav Modi and his accomplice Mehul Choksi duped Punjab National Bank (PNB) of around Rs. 22,000 crore. Along with them, some other names such as Vijay Mallya (Rs. 9,000 crore), Ashish Jobanputra (Rs 770 crore), Ritesh Jain (Rs 1,500 crore), Sabhya Seth (Rs 390 crore), Sanjay Bhandari (Rs 150 crore), Nilesh Parekh (Rs 2,223 crore) and many more are involved in economic frauds and have caused Indian banks a total loss of Rs. 50,000 crore. And now, this exodus is another brunt on the Indian economy.

One after the other, PM Modi has only unleashed lethal attacks on the backbone of the economy, be it through demonetisation or GST, scams or his so-called anti-corruption drive. The only thing common between all is the suffering of the common man.

PM Modi’s ill-thought decisions have always come down heavily on the economy. While he shakes hands with defaulters abroad and his capitalist friends enjoy contracts worth millions, the common man is reeling under the blunders of note ban and GST, still struggling to make his ends meet.

‘Acche din’ never arrived, 15 lakhs was never received, black money was never traced, willful defaulters were never traced, and corruption remains unabated. Four years is a long time for a government’s efforts to show some effects on the economy. Yet, there’s nothing the Modi government has to show for its tenure. Instead, with Demonetisation and a flawed GST, it has only hurt the Indian economy. 2 crore jobs were promised in one year, yet in the last four years, the government has not even generated 10 lakh jobs in cumulative. Where does the youth go? Farm distress is at its very peak. The banking sector is crumbling under the pressure of frauds carried out with the full knowledge of the PMO and under the very nose of the government. By all means, the Modi government has lost all moral right to carry on. Indeed, the time has come for a Modi-mukt bharat.