500,1000 Rs Note no longer legal tender!!

[YagamiLight]

Pls show your calculation/link to arrive at that figure.

India's nominal economy for this year 16-17 is 153 lakh crores.. indian economy was projected to grow at 7.7% before modi, backed by bollywood trained economists here like @Kshatriya87 implemented Demonetization. Now it is projected to grow by only 6.5%. even if you take the economic growth slowdown to be only 1% instead of 1.5% it actually is, it will be 1% of 153 lakh crores, which is 1.53 lakh crores.

And the [edited] about the few hundred crores here and there tax money which has been collected while the loss to indian economy is about 1-2% GDP growth points, which amount to 1.5-2lakh crores rupees

 

[YagamiLight]

Btw,even the tax wind fall claim are a huge myth.

http://m.hindustantimes.com/union-b...fall-claims/story-qHeC8VYAyE56DsxIcHCwuI.html

I hate to cite a jihadi paper like Hindustan times for the matter but hey, it is the paper which gives the points succinctly

 

[YagamiLight]

What most morons don't realise here is that, when you tax more, ppl will have lot less money left to invest and spend which will slow down investments, spendings and savings(which again is used for investments through loans)and will slow down economic growth.

Slower economic growth will cause a lower economic output and a lower economic base to tax from . Taxation is a lose lose proposition, specially in a country with massive govt inefficiency like India. And here bollywood trained economists are gloating about how modi has managed to get few thousand more crores as tax while the loss to nation in terms of economic growth runs into lakhs of crores.

 

[YagamiLight]

Now with the ass high high levels of GST, Don't expect the GDP to pick up any time soon. Bhakths will still be wanking about demonetisation and GST even if gdp growth falls below 5 %(likely to be slower than even fucking pakistan )

 

[Kshatriya87]

and what was that "long-term" gain again? Cash levels are almost back to pre monetization levels. And this elections will see return to normal for cash distribution for politics. And even that isn't as big a problem as the failing economy

I for once want the modi ass lickers to actually point out what the fuck they mean about long term gains. Give actual points instead of making bull shit vague fluff words like "long term gains, political gains". And i don't understand how Modi's electoral /political gains translate to political gains for India. Modi winning elections/political gain has fuck all to do with political gains for the nation

I feel sorry for you. Lost a lot of cash in demo did you? Did Namo's policies poke you in the back?


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[Akshay Fenix]

I feel sorry for you. Lost a lot of cash in demo did you? Did Namo's policies poke you in the back?


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Freeloader does not want to pay taxes, funny thing is that dumbass is on a defense forum.

 

[captscooby81]

Well i am not so much knowledgeable like you in economic growth factors ..just enlighten me on the below chart of 2010-2017 GDP growth rate of India in 2011-2012 it went negative down south from the 2010 figures why it went down so badly and was there any blunders done by the govt then ?? Just for my knowledge asking and please explain to me in layman terms i am not financial wizzkid like you sir ...

What most morons don't realise here is that, when you tax more, ppl will have lot less money left to invest and spend which will slow down investments, spendings and savings(which again is used for investments through loans)and will slow down economic growth.

Slower economic growth will cause a lower economic output and a lower economic base to tax from . Taxation is a lose lose proposition, specially in a country with massive govt inefficiency like India. And here bollywood trained economists are gloating about how modi has managed to get few thousand more crores as tax while the loss to nation in terms of economic growth runs into lakhs of crores.

 

[Khagesh]

India's nominal economy for this year 16-17 is 153 lakh crores.. indian economy was projected to grow at 7.7% before modi, backed by bollywood trained economists here like @Kshatriya87 implemented Demonetization. Now it is projected to grow by only 6.5%. even if you take the economic growth slowdown to be only 1% instead of 1.5% it actually is, it will be 1% of 153 lakh crores, which is 1.53 lakh crores.

And the retards here masturbate about the few hundred crores here and there tax money which has been collected while the loss to indian economy is about 1-2% GDP growth points, which amount to 1.5-2lakh crores rupees

See I understand the logic of applying 1% loss of growth to a base GDP figure. I don't intend to question that.

What I am trying to figure out is if the base on which that 1% is applied is the right one.

For example I could trace that Rs. 153 lakh crore figure that you adduced, to this write up in The Hindu which in turn refers to a report by The Forbes and tries to clear up the issue in a logical manner basis the advise of a professional economist.

http://www.thehindu.com/business/Ec...rger-than-that-of-the-uk/article16925514.ece1
The report cites India’s 2016 GDP as being Rs. 153 trillion, which converts to $2.30 trillion at an exchange rate of Rs. 66.6 a dollar.

“There were basically two considerations, the nominal value of GDP of both countries and the currency exchange rates,” D.K. Srivastava, chief policy advisor, EY India, told The Hindu. “Our estimates show that the GDP for 2016 would be at Rs. 149 trillion rupees. We are looking at the provisional actuals of last year and applying our estimate of the growth rate.”

But while this fails to cite if this is Real GDP or Nominal GDP (a minor technical point) given the time frames in focus in the problem you are focusing on, it does goes on to say something more important and pertinent that you surprisingly have missed, either mistakenly or deliberately.

You see The Hindu report was in the context of direct comparison of Nominal GDP of UK against Nominal GDP of India. Needless to say Nominal is only made up, unreal or fake. Here is how the Thesaurus describes the word Nominal (and the context is not missed out upon economists either):

http://www.thesaurus.com/browse/nominal
Synonyms for nominal
adj supposed, theoretical

• ostensible
• titular
• formal
• given
• puppet

• simple
• alleged
• apparent
• as advertised
• honorary

• in effect only
• in name only
• mentioned
• named
• pretended

• professed
• purported
• seeming
• self-styled
• so-called

If this is what Nominal means and if the economist (Mr. Srivastava) quoted by the The Hindu also note the following, then how come you missed the real import of the observation:

“Our estimate is that India is still smaller than the U.K., but it might overtake it at market exchange rates by the next financial year,” Mr. Srivastava added. “However, what is material is that in purchasing power parity terms India is much higher than all economies except the U.S. and China.”

Now the question arises if you deliberately missed out the real implications of the figures or was it an innocent mistake or if you never chanced upon observation by D.K. Srivastava, chief policy advisor, EY India?

 

[Kshatriya87]

Freeloader does not want to pay taxes, funny thing is that dumbass is on a defense forum.

Right. I have a friend. He was just like me. Very happy to see Modi in power and praised all his moves. One day I met him and out of the blue he started abusing the government and Modi. I asked him but he didnt tell me the reason. After a while it hit me that demonetisation had just happened a few days back. Thats when I asked him about it and he admitted that he had some cash in old currencies.

Seems like the same situation here.


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[salute]

What are you talking about? They do accept. Sabzi walas, paan walas, auto walas all accept. Even restaurants.

they dont accept 10 rupee coins .

 

[Khagesh]

OMG. Supporters of dumb dalali decision like demonetisation like my post. What can be more bizarre than this.

The 1% loss to GDP should not to be applied to Rs. 153 lac crore that the earlier poster had mentioned. That is not the real GDP of India. That is only the Nominal GDP (or may be even Deflated GDP which is not going to be very different). But that is not the real measure of our value addition. The real measure of value addition is the PPP GDP which is about 3 times more. Ergo the losses too were about 3 times more than what was admitted to by economists dependent on government of India.



Instead these people probably thought that the economy can take losses because it is 3 times bigger than the base mentioned.

My god, the level to which this kejripanthi of Modi bhaktas can go!!!

 

[YagamiLight]

See I understand the logic of applying 1% loss of growth to a base GDP figure. I don't intend to question that.

What I am trying to figure out is if the base on which that 1% is applied is the right one.

For example I could trace that Rs. 153 lakh crore figure that you adduced, to this write up in The Hindu which in turn refers to a report by The Forbes and tries to clear up the issue in a logical manner basis the advise of a professional economist.



But while this fails to cite if this is Real GDP or Nominal GDP (a minor technical point) given the time frames in focus in the problem you are focusing on, it does goes on to say something more important and pertinent that you surprisingly have missed, either mistakenly or deliberately.

You see The Hindu report was in the context of direct comparison of Nominal GDP of UK against Nominal GDP of India. Needless to say Nominal is only made up, unreal or fake. Here is how the Thesaurus describes the word Nominal (and the context is not missed out upon economists either):

http://www.thesaurus.com/browse/nominal
Synonyms for nominal
adj supposed, theoretical

• ostensible
• titular
• formal
• given
• puppet

• simple
• alleged
• apparent
• as advertised
• honorary

• in effect only
• in name only
• mentioned
• named
• pretended

• professed
• purported
• seeming
• self-styled
• so-called

If this is what Nominal means and if the economist (Mr. Srivastava) quoted by the The Hindu also note the following, then how come you missed the real import of the observation:



Now the question arises if you deliberately missed out the real implications of the figures or was it an innocent mistake or if you never chanced upon observation by D.K. Srivastava, chief policy advisor, EY India?

I used nominal gdp because we are talking about currency denomination here. You can't use PPP calculations for currency denomination or its effects. And if we go by PPP figures, the impact of Demonetisation is probably worse than its impact on nominal economy. For example, indian economy is 2Tn $ in nominal terms while it is 9Tn$ in PPP terms. So any loss of GDP growth in nominal terms will reflect way worse in PPP terms, meaning PPP figures for the same will be worse than nominal GDP terms. Edit: Oh, i see you have mentioned the same in your post too

And since your post vaguely seems to refute my point that Indian gdp had atleast 1.5 lakh crore loss from Demonetization, two bhakths have liked your post. How pathetic

 

[YagamiLight]

OMG. Supporters of dumb dalali decision like demonetisation like my post. What can be more bizarre than this.

The 1% loss to GDP should not to be applied to Rs. 153 lac crore that the earlier poster had mentioned. That is not the real GDP of India. That is only the Nominal GDP (or may be even Deflated GDP which is not going to be very different). But that is not the real measure of our value addition. The real measure of value addition is the PPP GDP which is about 3 times more. Ergo the losses too were about 3 times more than what was admitted to by economists dependent on government of India.



Instead these people probably thought that the economy can take losses because it is 3 times bigger than the base mentioned.

My god, the level to which this kejripanthi of Modi bhaktas can go!!!

yes. The bhakths here are really retarded aren't they. Anyway, i don't think we will be changing any minds here. These morons won't learn even if Modi personally robs them at gun point. Retards

 

[Kshatriya87]

yes. The bhakths here are really retarded aren't they. Anyway, i don't think we will be changing any minds here. These morons won't learn even if Modi personally robs them at gun point. Retards

You finally got the point. Now get out of here.


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[captscooby81]

i am still waiting for your reply on the reason for the growth dip in 2011-2012 just enlighten me saar ..Chase the bhakts later first help the common tax payer understand for what i am getting looted ???

yes. The bhakths here are really retarded aren't they. Anyway, i don't think we will be changing any minds here. These morons won't learn even if Modi personally robs them at gun point. Retards

 

[Bornubus]

OMG. Supporters of dumb dalali decision like demonetisation like my post. What can be more bizarre than this.

The 1% loss to GDP should not to be applied to Rs. 153 lac crore that the earlier poster had mentioned. That is not the real GDP of India. That is only the Nominal GDP (or may be even Deflated GDP which is not going to be very different). But that is not the real measure of our value addition. The real measure of value addition is the PPP GDP which is about 3 times more. Ergo the losses too were about 3 times more than what was admitted to by economists dependent on government of India.



Instead these people probably thought that the economy can take losses because it is 3 times bigger than the base mentioned.

My god, the level to which this kejripanthi of Modi bhaktas can go!!!

Because now they are themselves confused.

 

[Kshatriya87]

i am still waiting for your reply on the reason for the growth dip in 2011-2012 just enlighten me saar ..Chase the bhakts later first help the common tax payer understand for what i am getting looted ???

And he wont. He hasnt answered several of my questions either. These congis conveniently bypass the quesries we raise.


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[Villager]

RBI dividend halves to Rs 30,659 cr

 

[Kshatriya87]

i am still waiting for your reply on the reason for the growth dip in 2011-2012 just enlighten me saar ..Chase the bhakts later first help the common tax payer understand for what i am getting looted ???

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[Khagesh]

Fact : The 5 year averaged Real GDP Growth rates have gone from 2% to 9% (bottom to peak basis)
Fact : The Cash to GDP ratio has gone up from 8% to 12% (bottom to peak basis)

Query :Which is a steeper curve?

Fact : During the 2004-2016 period the High Denomination Notes in ciruclation is shown to be going up from about 6% to about 10.5%.

Fact cooking : This has obviously not gone down because the Rs. 1000 and Rs. 500 notes have been replaced by Rs. 2000 notes. That is why Swarajyamag has hidden the graph after the demonetisation. Because after that the ratio went from bad to worse to absolute rotten, every single day.

This cash deficit would have worked for the economy if:
1) it would have moved into the bank; and
2) the multiplier effect from credit supply side; and
3) economic activity from the credit demand side;
would have generated higher economic activity.

But did that happen? Note what the goals earlier and now.

Here is what actually happened. Something that Swarajyamag has successfully hidden. Swarajyamag is a Deshbhakta .

FACT TODAY:

https://swarajyamag.com/economy/economic-survey-what-it-will-take-to-maintain-7-per-cent-gdp-growth
Economic Survey: What It Will Take To Maintain 7+ Per Cent GDP Growth
Subhomoy Bhattacharjee
- Aug 12, 2017, 10:42 am

FACT HISTORICAL:

http://www.livemint.com/Politics/zg...ath-to-10-economic-growth-not-impossible.html
Last Published: Sat, Jun 20 2015. 11 36 AM IST
Arun Jaitley says path to 10% economic growth not impossible
Jaitley says it is important that India reach 10% growth target, but it is more important to sustain it for a couple of years

http://www.hindustantimes.com/india...wth-jaitley/story-ItKOYRc4y150AzSiEdZGiL.html
Govt spurring India’s potential for double digit growth: Jaitley
Given the current economic scenario, India has the potential to achieve double digit growth and the union government is taking the requisite steps in this direction, union finance minister Arun Jaitley said on Saturday.
INDIA Updated: May 30, 2015 20:38 IST

And here is the real no-confidence vote that the business community is casting right now. Nobody is interested in real production any more. Not even the businessmen who were at the top of their game. Gold is the only real thing expected to go up by these businessmen. Any paisa invested in gold is a vote of no-confidence in the governance.

http://www.livemint.com/Money/zRpZM...rge-236-to-5-billion-in-May-ahead-of-GST.html
Last Published: Fri, Jun 16 2017. 12 37 PM IST
Gold imports surge 236% to $5 billion in May ahead of GST
Apprehension of higher goods and services tax (GST) rate and increase in demand leads to surge in India’s gold imports by 236.7% to $5 billion in May

And mind you this gold import is sticky. It will remain whatever you do. This has nothing to do with GST. From the same livemint report. Livemint too is hiding the real import of that graph.

Does it look like coming down or plateauing out? :biggrin2:

Do you know the gold sales have stagnated. And these imports are happening despite that. What does that imply? Deshbakt ho, sirf whatsaap forward kar ke deshbhakti karoge?