Suraj wrote:Indira Gandhi nationalized the banks in 1971 claiming she wanted to bring about financial inclusion. And yet in 2014 40% of households had no bank account. In 2016 almost every household does. and also in 2016, the black economy that grew dramatically from the IG era, was crippled by demonetization.
You got your history mixed up.
Nationalization of banks happened in 1969 and main reason among others was that private banks were not giving loans to the farmers in the proportions they were asked to. Nationalization of banks contributed significantly to the Green Revolution.
The event of 1971 was Bangladesh war.
Between 1971 - 72 ( ? ) she also completely broke the back of Naxalites from which they did not recover until late 80's/early 90's.
Indira Gandhi also nationalized most of the coal mines in 1973 that lead to the formation of Coal India Limited, and streamlined coal production and lead to expansion of coal industry.
1974: Smiling Buddha
She imposed emergency in 1975, again a very gutsy decision! Incidentally corruption is considered to be lowest during this period.
In 1984, to combat Khalistani terrorists she launched Operation Bluestar and despite being advised to remove her Sikh bodyguards from security duties she stuck with them ( ultimately the same bodyguards killed her ).
So IG does have her fair share of gutsy decisions and hers are big shoes to fill.