India headed for economic doom, prominent US thinktank

arnabmit

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WB has a lot of barren land which can be used for industrialization. Singur is ultra fertile land with 4 crop cycles in a year. Such land should not have been used. However once construction started, it should have continued as after pouring so much concrete, the land is completely infertile now.

Land is needed to develop big manufacturing plants(Singur is still fresh in minds)..There is so much confusion about real estate deals that it kills most initiatives for manufacturing..Strong economy needs strong manufacturing base to absorb the masses.
 

Sakal Gharelu Ustad

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WB has a lot of barren land which can be used for industrialization. Singur is ultra fertile land with 4 crop cycles in a year. Such land should not have been used. However once construction started, it should have continued as after pouring so much concrete, the land is completely infertile now.
Dude, it was more of a political battle. There are various reasons why industries want to locate near human habitats(check @pmaitra post's above). And surprisingly, most human settlements are on fertile lands!!
 
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hello_10

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the only area i feel able to comment about is manufacturing :tsk:-....... it just doesn't seem to be getting the priority i feel it should have been getting since way back
Madam, Indian economy is in a much better shape than the ability of US's think Tank...... better US would worry for their own economy, which is in a seriously bad shape, heavily indebted and just no future, in place of worrying about the Indian economy...... their these poor quality statements only means to state that now US is more willing to get help from the Indian economy, to avoid a set fall their own economy may face by end of this decade, very likely :wave:

as a man who is just interested in economics, had just few subjects in my management studies but no professional degree in economics, but even I may say that Economic State of a country may well be measured on the basis of the below two main criterion only, in today's world :ranger:

1st, PMI Report:
Average Composite PMI of India for the year 2012 to last month was around 55, showing an expansion of around 10% in combined Manufacturing and Services both this way. which is considerably better in today's struggling world market. please check these news as below, with PMI for Manufacturing for the last month too

=> India's manufacturing PMI up at 54.2 in February 2013 | NetIndian

=>
Accordingly, the HSBC India Composite Output Index - which maps both the manufacturing and services index – stood at 56.3 in January, unchanged from December's reading. :thumb:

India services PMI rises to one-year high in January: HSBC Markit - Indian Express
2nd, Investment to GDP
which has now come down to 30%, which India needs to raise. hence more investment is required this way, mainly high investment in Infrastructure to raise GDP numbers. but we do have a news of around $1.0trillion Investment in Infrastructure for the next 5 years, which is not high but not very low too......

https://www.cia.gov/library/publica...ndia&countryCode=in&regionCode=sas&rank=19#in

and if average Composite PMI is well above 55 for the last 14 months, showing pretty good expansion of Manufacturing+Service industries this way, with 30%+ Investment to GDP ratio also, then even the low GDP growth number isn't a worry for a person like me, under these very bad external markets.... India only needs to increase Investment in infrastructure, thats it :wave:
 
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mylegend

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what INdia needs is not land privatization..but a revolution....
Democracy by itself legalize revolution, it allow majority to overthrow government at during election. However, the flaw in individual state system is the problem, the lack of political participation is the problem, the lack of educated population is the problem. The lack of fiscal discipline is another problem of India, the first thing China cut during beginning of reform is to mass layoff of the army and reduction of military budget. India decide to go to opposite direction increasing military spending while enjoying their unsustainable high deficit. Another idiotic thing they decide to do is to subsidize gas price, it lack any economical sense, the subsidy increase both trade and fiscal deficit, The money find a better place in investment of public transit and road.
 

arnabmit

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Not in recent times. Else entire western belt of rocky & less fertile Durgapur, Asansol, Bankura, Purulia region would not have been so populated. These areas are ideal for industrialization. Check the map please.

Dude, it was more of a political battle. There are various reasons why industries want to locate near human habitats(check @pmaitra post's above). And surprisingly, most human settlements are on fertile lands!!
 
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Yusuf

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Code:
1.nationalize rural land ,decrease the land cost for industrialzation,

2.crush the awareness of social classes. widely spread that "all social classses are equal".
in CHina, it is a routine for bosses to have dinners with his driver or his housekeepers.
In india, it is a insult for bosses to have a dinner with his driver.or housekeepers
Is that a revolution? Or the premise for a revolution?
 

Yusuf

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Democracy by itself legalize revolution, it allow majority to overthrow government at during election. However, the flaw in individual state system is the problem, the lack of political participation is the problem, the lack of educated population is the problem. The lack of fiscal discipline is another problem of India, the first thing China cut during beginning of reform is to mass layoff of the army and reduction of military budget. India decide to go to opposite direction increasing military spending while enjoying their unsustainable high deficit. Another idiotic thing they decide to do is to subsidize gas price, it lack any economical sense, the subsidy increase both trade and fiscal deficit, The money find a better place in investment of public transit and road.
Indian military spending is less that 2% of the GDP.
 

asianobserve

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Guys listen to what our esteemed colleague Hello has to say: India is doing fine. No need to worry. Indian Government can continue with what they're doing. In fact it doesn't have to do any kind of reform. The Indian economy is so smooth sailing it will overtake the US in 10 years (of course what do you expect from these Americans are crazy idiots!)... Right Hello?
 

amoy

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@asianobserve your pet HSBC projects

HSBC cuts India growth forecasts for fiscal years 2013, 2014 - Indian Express
HSBC has lowered India's growth forecast for this fiscal to 5.2 per cent from 5.7 per cent projected earlier, and for financial year 2013-14 to 6.2 per cent from 6.9 per cent.
In April and June last year, another rating agency S&P, had warned of further downgrades, which would put India into a junk status from the current lowest investment grade rating of BBB-.

HSBC, however, lauded the government's reforms push and said: "All in all, policy in India is moving in the right direction and the reforms will likely continue to inch forward, although much still needs to done and some of the bills may not passed in the near term".
 
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sesha_maruthi27

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Then, what about america? Are they already in an other economic meltdown?

First let uncle SAM see himself and then he can tell about others........:taunt1:
 

thakur_ritesh

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We continue to remain continuously misdirected, the budget was a reflection of that. We talk right, big, whatever, but just don't want to deliver.

It is amazing, a far off think tank can pick up what needs to be done, our political, and bureaucratic leaderships give a nod in yes, but when it comes to delivering, we just seem to be lost in our dreams.

Indian business houses have got the point, and they are correctly moving their investments overseas.
 

average american

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The Heritage Foundation is an American conservative think tank based in Washington, D.C. Heritage's stated mission is to "formulate and promote conservative public policies based on the principles of free enterprise, limited government, individual freedom, traditional American values, and a strong national defense".[2]

The foundation took a leading role in the conservative movement during the presidency of Ronald Reagan, whose policies drew significantly from Heritage's policy study Mandate for Leadership.[3] Heritage has since continued to have a significant influence in U.S. public policy making, and is considered to be one of the most influential conservative research organizations in the United States.[4]
The Heritage Foundation - Wikipedia, the free encyclopedia

The Heritage Foundation is pretty far to the right, they are against social programs and have a Darwin Mentality, I would take what they say with a grain of salt.
 

amoy

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The Heritage Foundation is pretty far to the right, they are against social programs and have a Darwin Mentality, I would take what they say with a grain of salt.
pls enlighten what Darwin Mentality means here



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t_co

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I agree. I do not see why land privatization is necessary for economic growth. Also, labour laws need big time reform in India, but our babus want to brush every labour problem under the carpet as "Maoist instigated violence."
Quite interesting. Couldn't politicians earn re-election in a much more enjoyable fashion if they simply repealed labor laws that kept people from working instead of blaming outside forces for their troubles all the time?

EDIT: for example, in China, there aren't many laws that regulate the hiring and firing of employees, income taxes are famously low, employee benefits are negotiated between the employer and the employee on an individual basis (as opposed to being state-mandated)... all this sets up a great deal of labor market flexibility. Firms don't hesitate to contract people for short-term stints (say 3 to 6 month projects) when in India this sort of hiring would be done bereft of legal protection or not at all, since labor laws are so retarded.
 
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amoy

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Quite interesting. Couldn't politicians earn re-election in a much more enjoyable fashion if they simply repealed labor laws that kept people from working instead of blaming outside forces for their troubles all the time?

EDIT: for example, in China, there aren't many laws that regulate the hiring and firing of employees, income taxes are famously low, employee benefits are negotiated between the employer and the employee on an individual basis (as opposed to being state-mandated)... all this sets up a great deal of labor market flexibility. Firms don't hesitate to contract people for short-term stints (say 3 to 6 month projects) when in India this sort of hiring would be done bereft of legal protection or not at all, since labor laws are so retarded.
hn hn low income tax, labor market flexibilty? not many laws regulating employment? sounds u dont hv much know-how in this regard and r addicted to "primitive phase of capitalism"

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Phenom

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Errr,

Just because things aren't going well at the movement doesn't mean we should start considering everything the American right and the Chinese left says to be accurate. Let's not throw the baby out with the bath water and end up short-selling the India story just to make UPA look bad. Most of the blame for current situation could be attributed to NAC, Sonia Gandhi and Pranad Mukherjee, but now MMS and PC are trying to do something with the time left. And if BJP comes to power and takes some bold reforms then India could once again reach the 9% growth rate in the coming years.

The country doesn't need to stop spending on the poor or start a revolution or nationalize rural land, just continue to do what has been done in the late 90s and early 2000s and things will get back to where they were.



pls enlighten what Darwin Mentality means here



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Its a far right economic ideology which believes if a person is poor then its his/her fault and the govt shouldn't help them in any way. If a poor can't afford food then they should go hungry and the govt shouldn't help him by subsidizing food. Its a stupid economic idea that no country would accept.
 

t_co

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hn hn low income tax, labor market flexibilty? not many laws regulating employment? sounds u dont hv much know-how in this regard and r addicted to "primitive phase of capitalism"

Sent from my 5910 using Tapatalk 2
I don't get it, please enlighten me.
 

Ray

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@ Amoy,

Is your repeated use of SMS language inbuilt in Taptalk?

I don't find the same with others who use it!
 

average american

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pls enlighten what Darwin Mentality means here



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Social Darwinism


a 19th-century theory, inspired by Darwinism, by which the social order is accounted as the product of natural selection of those persons best suited to existing living conditions and in accord with which a position of laissez-faire is advocated.
 

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