Indian Economy: News and Discussion

[jai jaganath]

Few instances where he gives sensible comments

 

[vin bharat mahan]

Ya'll Nibbiars The Coca Cola to invest 3,000 crore rupees to set up manufacturing unit at Sanand in Gujarat.

hope all sugar which is going to mix in coca cola, delivered by indian sugar mill. it help our sugar mills, farmers nd doctors also (after suffering from diabetes, obesity etc). it also help in economic activities.

 

[Haldilal]

hope all sugar which is going to mix in coca cola, delivered by indian sugar mill. it help our sugar mills, farmers nd doctors also (after suffering from diabetes, obesity etc). it also help in economic activities.

Ya'll Nibbiars It's never going to happen due to the Sugar lobby by the MNC's.

 

[vin bharat mahan]

Ya'll Nibbiars It's never going to happen due to the Sugar lobby by the MNC's.

actually...that was sarcasm based comment, not economy based. i m critisizing coca cola as sugar syrup. hope indian dont addicted like Mexican for soft drinks.

 

[ListenLittleMan]

Shows how much damage Indra Gandhi's nationalization of private industry did to Indian economy.

Indira Gandhi launched a private war against Swatantra in the guise of ‘Garibi Hatao’ (Remove Poverty) socialism. She attacked Swatantra’s two main pillars, the princes and big business. She abolished the privy purse of the princes and made them subject to income and wealth tax, pauperising most of them. Some fled abroad to reduce their tax liability.

Gandhi also raised the peak income-tax rate to 97.75%, plus a wealth tax of 3.5%. This crippled the finances of big business, which had already been hit by bank nationalisation.

She went on to nationalise several more businesses like coal, general insurance and copper. Industrialists feared loss of their companies and cringed where they had once roared like lions. Both pillars of the Swatantra Party were smashed, never to recover.

Union Budget of India, February 28, 1970
Mrs. Indira Gandhi, then Finance Minister of India, announced the new personal income tax slab rates while presenting the Union Budget of India, also February 28, 1970, in New Delhi.

By doing this, the government increased the marginal tax rate by 11 percentage points to 93.5 percent on all incomes above Rs. 200,000.

This meant that for every Rs. 100 earned above Rs. 200,000, a citizen could take home just Rs. 6.50.

When the surcharge of 10 percent was taken into account, the maximum marginal rate for individuals was a mind-boggling 93.50 percent

"This was completely in tune with a politics that saw wealth creators as parasites and high income earning and tax-paying citizens as evil and believed in the distribution of wealth without creating it. The intellectual framework for high taxes was set by Finance Minister C.D. Deshmukh two decades earlier in his 27 February 1953 Union Budget speech, where he set up the Taxation Enquiry Commission under the chairmanship of John Mathai, with six other members, including V.K.R.V," says one of the excerpts of the report.

Indian Banks Nationalisation | Indira Gandhi's bank nationalisation was an economic failure, but a smashing political success

In economic terms, banks' nationalisation is described as a failure. But politically, it was a smashing hit.

economictimes.indiatimes.com

https://facthunt.in/posts/899/FACT-CHECK:-Were-personal-income-tax-rates-between-1971-72-as-high-as-93.5-percent

 

[SKC]

‘Trade deals won’t hit quality alcohol firms in the long run’

Impact on Indian premium whisky segment will be determined by extent of FTA concessions

www.livemint.com

Firangiyo ki Nazar bharatiya madira bazaar par hai.

EU spirits industry seeks significant cut in tariff in FTA with India

spiritsEUROPE has also sought protection of intellectual property and geographic indication rights for its products in the proposed trade deal

www.livemint.com

New Indian Liquor companies are giving Western companies run for their money.
Winning competitions around the world and dominating the Indian market also now.

 

[indus]

hope all sugar which is going to mix in coca cola, delivered by indian sugar mill. it help our sugar mills, farmers nd doctors also (after suffering from diabetes, obesity etc). it also help in economic activities.

Sugarcane is a water intensive crop. India is a sugar surplus country and we produce extra tonnes of sugar to cater to foreign markets. While instead of wasting precious water resources on sugarcane Govt and farmers could have diverted attention towards pulses and oilseeds which we import in huge quantities every year.

https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1865320

Records highest sugar exports of 109.8 LMT

 

[dfcool]

IITs doing everything expect what they supposed to do. .

 

[karn]

actually...that was sarcasm based comment, not economy based. i m critisizing coca cola as sugar syrup. hope indian dont addicted like Mexican for soft drinks.

Deadliest coca cola is that which is sold in USA .. they don't use sugar but syrup out of corn starch which is worse than sugar .

 

[ezsasa]

IITs doing everything expect what they supposed to do. .

more the patent generating potential the merrier.

 

[another_armchair]

more the patent generating potential the merrier.

We have IISc & TIFR for that which have grand fathered or have alumni linked to most of the bio-sciences companies in India that are of some worth today.

Yes, IIT's may provide access to engineering/robotics departments but they have been collaborating for decades already.

Anyways, 5 years for MBBS, followed by more years for PG. MBBS students will need access to patients. Where will they find a hospital? Campus hospitals are like PHC's with most cases referred to bigger hospitals outside the campus.

Maybe one IIT can take the path of John Hopkins but the core goal of IIT was pioneering in engineering & innovation in the first place. Its another thing that they churned out many more financial analysts, marketing whizkids and consultants instead.

 

[ezsasa]

We have IISc & TIFR for that which have grand fathered or have alumni linked to most of the bio-sciences companies in India that are of some worth today.

Yes, IIT's may provide access to engineering/robotics departments but they have been collaborating for decades already.

Anyways, 5 years for MBBS, followed by more years for PG. MBBS students will need access to patients. Where will they find a hospital? Campus hospitals are like PHC's with most cases referred to bigger hospitals outside the campus.

Maybe one IIT can take the path of John Hopkins but the core goal of IIT was pioneering in engineering & innovation in the first place. Its another thing that they churned out many more financial analysts, marketing whizkids and consultants instead.

Mission and Vision | SMST

Creative Multipurpose Bootstrap Template

www.smst.iitkgp.ac.in

 

[Roshan]

Sugarcane is a water intensive crop. India is a sugar surplus country and we produce extra tonnes of sugar to cater to foreign markets. While instead of wasting precious water resources on sugarcane Govt and farmers could have diverted attention towards pulses and oilseeds which we import in huge quantities every year.

https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1865320

Records highest sugar exports of 109.8 LMT

Most fruits you get in tier 1 cities now are all produced abroad, I know because I ask vendors when I find they all look exotic. I don't remember this being the case even a decade ago let alone before that. The green colored bananas which were the only ones you could get other than the small yellow ones you cannot even find anywhere today.
When we are talking of importing pulses and millets too one wonders what our agriculture is actually doing when it employs so much of our workforce and is a target of so many subsidies? In places like Punjab which were anyway arid it must be further lowering the water table when you consider how much fertilizers they would need to use to grow rice there.

 

[vin bharat mahan]

Sugarcane is a water intensive crop. India is a sugar surplus country and we produce extra tonnes of sugar to cater to foreign markets. While instead of wasting precious water resources on sugarcane Govt and farmers could have diverted attention towards pulses and oilseeds which we import in huge quantities every year.

https://www.pib.gov.in/PressReleseDetailm.aspx?PRID=1865320

Records highest sugar exports of 109.8 LMT

rice is most water intensive crop in india...yet we r producing it in quantity. in our village we grow limited sugarcane without giving water , so i dont know how much sugarcane use water. sugarcane leaf used for cattle food nd now it is/will also use for ethenol also. so i think surplus sugarcane will used for making ethenol. but due to many sugar mills, we will continue to produce sugar also.
by the way my comment was sarcasm about cocacola use excess sugar, so diebetease etc send people hospital more.

 

[another_armchair]

Mission and Vision | SMST

Creative Multipurpose Bootstrap Template

www.smst.iitkgp.ac.in

Did I miss something or 22 years since establishment, this is all there is to write home about.

Research Highlights | SMST

Creative Multipurpose Bootstrap Template

www.smst.iitkgp.ac.in

Patents | SMST

Creative Multipurpose Bootstrap Template

www.smst.iitkgp.ac.in

Hope some good comes out after starting an MBBS program.

 

[indus]

Most fruits you get in tier 1 cities now are all produced abroad, I know because I ask vendors when I find they all look exotic. I don't remember this being the case even a decade ago let alone before that. The green colored bananas which were the only ones you could get other than the small yellow ones you cannot even find anywhere today.

Don't know where you got this information. Its the reverse nowadays with foreign, exotic fruits, vegetables being grown in India. For example Rajasthan, J&K grows olives.
How olive cultivation in Uri is transforming the lives of Kashmiri farmers

How olive cultivation in Uri is transforming the lives of Kashmiri farmers

In Kashmir, cultivation of olive is done in Uri owing to favourable weather conditions and soil quality there

www.firstpost.com

Lot of exotic fruits are grown in Gujarat and Maharashtra.

https://pib.gov.in/PressReleasePage.aspx?PRID=1906572

Kamalam (Dragon Fruit) cultivation area in India expected to expand to 50,000 hectares in five years under MIDH scheme from the present 3,000 ha.

Centre of Excellence (CoE) for Kamalam Fruit to be set up at IIHR, Bengaluru to help make Atmanirbhar Bharat by cutting down on its imports valued at about Rupees 100 crores in 2021

 

[Samej Jangir]

rice is most water intensive crop in india...yet we r producing it in quantity. in our village we grow limited sugarcane without giving water , so i dont know how much sugarcane use water. sugarcane leaf used for cattle food nd now it is/will also use for ethenol also. so i think surplus sugarcane will used for making ethenol. but due to many sugar mills, we will continue to produce sugar also.
by the way my comment was sarcasm about cocacola use excess sugar, so diebetease etc send people hospital more.

Growing rice & wheat is a policy of food security and can't be compromised. People can live without sugarcane, pulses, vegetables etc in case of severe crisis like wars and was actually a common situation in pre 1970s.

But question is why India prefers to grow sugarcane instead of pulses or oilseeds like sunflower?

 

[ezsasa]

Don't know where you got this information. Its the reverse nowadays with foreign, exotic fruits, vegetables being grown in India. For example Rajasthan, J&K grows olives.
How olive cultivation in Uri is transforming the lives of Kashmiri farmers

How olive cultivation in Uri is transforming the lives of Kashmiri farmers

In Kashmir, cultivation of olive is done in Uri owing to favourable weather conditions and soil quality there

www.firstpost.com

Lot of exotic fruits are grown in Gujarat and Maharashtra.

https://pib.gov.in/PressReleasePage.aspx?PRID=1906572

Kamalam (Dragon Fruit) cultivation area in India expected to expand to 50,000 hectares in five years under MIDH scheme from the present 3,000 ha.

Centre of Excellence (CoE) for Kamalam Fruit to be set up at IIHR, Bengaluru to help make Atmanirbhar Bharat by cutting down on its imports valued at about Rupees 100 crores in 2021

even saffron is being cultivated in plains, in temp controlled rooms

 

[Haldilal]

Ya'll Nibbiars Mohabat ki Dukan.

Karnataka plans VAT on fuel to fund BPL family health insurance | Bengaluru News - Times of India

The Karnataka government is considering imposing a 50-paisa to Re 1 cess on every litre of petrol and diesel sold in the state to generate funds for a

timesofindia.indiatimes.com

 

[another_armchair]

even saffron is being cultivated in plains, in temp controlled rooms

The agricultural income derived from agricultural operations carried out on urban or rural land is exempt from taxes.

Gee, opens up so many opportunities.