Indian Economy: News and Discussion

Leonardo Alves

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in proportional to income nope.
I just want to say to members here is that poverty is a b***h. Man can handle it to some extent. Women & elderly face the biggest brunt. govt need to insure some type of basic income for women folks at least, even a small 1000 per month will be sufficient.
Arre bhai my grandma herself get 1000 per month and get 600 extra because she is a widow, she is a nobody, she is in UP, when you are not here in India then why comment.

This country is Rich when you have too many Socialist scheme ofcourse things will go down.

Not like other countries don't have this type of schemes BUT THEIR GDP numbers are correct NOT INDIA because Scroll didn't say so.
 

t 90s

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Arre bhai my grandma herself get 1000 per month and get 600 because she is a widow, she is a nobody, she is in UP, when you are not here in India then why comment.
I am indian. Himachal se hoon BC. I was talking about young people, 18+ but below 60( young man, women , housewives ) some type of security net to fall back to in bad times. 1000 to 2000 Rs a month is not a big deal. People still work.
 

srevster

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I am indian. Himachal se hoon BC. I was talking about young people, 18+ but below 60( young man, women , housewives ) some type of security net to fall back to in bad times. 1000 to 2000 Rs a month is not a big deal. People still work.
Prove that Indian security net is lower than American security net looking at middle class income and savings.
 

Leonardo Alves

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I am indian. Himachal se hoon BC. I was talking about young people, 18+ but below 60( young man, women , housewives ) some type of security net to fall back to in bad times. 1000 to 2000 Rs a month is not a big deal. People still work.
You maybe from alien land, BCo_O( please dude, let's not go there), where you wrote in your previous post about SPECIFICALLY young people?!!! don't change goalpost dude.
So this is just for public.

You do know PM launched a scheme about 5000 pension after 60 years for labor.
You only start from something.
And what PM is doing by launching Jan Dhan account?!! You really dude need money for housewifes too?!!!! there are many husbands here talk to them, how they feel about that.
 

t 90s

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You maybe from alien land, BCo_O( please dude, let's not go there), where you wrote in your previous post about SPECIFICALLY young people?!!! don't change goalpost dude.

You do know PM launched a scheme about 5000 pension after 60 years for labor.
You only start from something.
And what PM is doing by launching Jan Dhan account?!! You really dude need money for housewifes too?!!!! there are many husbands here talk to them, how they feel about that.
I am not talking about urban upper class elite & there fat housewives.India is bigger than delhi NCR, Mumbai, Bangalore.
 

Edinburgh

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No, Indian food or labor-intensive food is cheaper.
However, gasoline prices in the United States are 60 rubles per liter. American cars are cheaper, electronics are cheaper

Labor related things can be expensive, 70 dollars for a haircut and even more for a repair. Generally speaking, physical goods are cheap and labor is expensive.

American medicine, that's a big money pit.
 

t 90s

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Modi ji is spending good on healthcare i think, far better than the previous dispensation. i have personally seen changes on ground & construction that is happening. Diagnosis of diseases ( primary level ) at rural level area need to improve ( more CT-PET, MRI machines & other diagnostic equipments ) can save massive amount for govt & healthcare system. There are around 6000 tehsils ( Sub districts ) in india. It's there where push need to be.
 

Leonardo Alves

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I am not talking about urban upper class elite & there fat housewives.India is bigger than delhi NCR, Mumbai, Bangalore.
And I am also not talking about upper class too, you dude I really don't know in which world and from where you are bringing facts.

Please stop reading only scroll or NYT read other news media too like right wings one.

And do your own discovery of India, you really need it.

And the situation of India before modi came was also due to SOCIALIST schemes.
 

Lonewolf

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And I am also not talking about upper class too, you dude I really don't know in which world and from where you are bringing facts.

Please stop reading only scroll or NYT read other news media too like right wings one.

And do your own discovery of India, you really need it.

And the situation of India before modi came was also due to SOCIALIST schemes.
To be honest I really hate any socialist scheme , fuck it , if you wanna pay someone freebies ,ask them to build a wall and break it at evening ,so they realise that they have to work anyway .

Even if you pay pension , ask them to do some small job if possible , if body allows , like reviewing global practice and submit their reports time to time , even if you throw those file in dustbin ,but a person should work , he shouldn't be given anything for free ,never ever
 

indus

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Problem 2 - Falling Borrower Confidence and Economic Failure

Borrowers once borrowed a lot of money. Even if 8% defaulted, 92% paid off their loans and interests well and kept the clock ticking.

Today Borrowers are very hesitant to borrow money to invest in India. The criminalization of defaults is a huge reason. Most Borrowers decide not the expand their businesses or decide to invest overseas. Even the Big Companies (Except Reliance and Adani who have a Crony link) are investing overseas.

So rather than 10000 eggs in 100 baskets , we have 10000 eggs in 15 -20 Baskets which is far more risky.

Banks are lending more and more to fewer and fewer borrowers and due to Demo they have huge liquidity to get rid of.

Solution - Dont Criminalize defaults without strong evidence, Increase NPA classification period from 90 days flat to 90 days -5 Years depending on the nature of loan, RBI must be held accountable for missing things in audits, Pay more money to Valuators but hold them accountable for wrong valuation

Problem 3 - Lack of Foreign Investor Confidence in India Inc

Sure FDIs have increased as per reports.

Yet most of those FDIs are investment into Companies and their shares rather than investment into the Indian Economy and People.

For instance in 2020 - FDIs rose by 64% relative to 2019 but 91% of those FDIs were related to 5 Specific Companies. This only causes bloating of shares of these companies. Ambani may have another 400 Cr wedding for another daughter but it wont affect India by even 0.1%

Foreign Investors hate our Tax Structure (Toyota, Bosch, Volvo and Caterpillar have all scrapped their Phase III and Phase IV investments into India from 2017–2020 and Nokia packed up and left), our Labor Laws (Winstron did not produce for 182 days, in China over 4 years the non productive days were 7 ), Our Judicial Horror System (Cairn Energy, Amazon, Rolls Royce)

Solution - New Courts consisting of 49% Foreigners to arbitrate disputes involving foreign investors with no SC jurisdiction, Standard Labor Laws, Zero Tax Laws etc. You want your people employed, DONT BE GREEDY FOR TAX.

Problem No 5- Mediocrity and No Quality related standards
Lot of words with little or no substance. Ur friend wants new courts consisting of foreigners where even Supreme Court cannot say anything????? Are you fckin serious. Which country in the world would handover its judiciary to foreigners. Simply call for re colonisation by british please.

Then ur friend says Borrowers used to borrow alot of money. Even if 8 pcnt defaulted its okay. What if one defaulter out of the 8pcnt is a Mallya screwing banks by 5000 cr. Percentage of defaulters doesnt matter. Its the money that went down with them matters. And that NPA amount is yuuge. Running into lakh-crores making holes in the balance sheets of banks causing them to halt further lending till the previous shit is cleaned.

Thank God Nokia packed up and left. Btw in the era of IoS and Android, Nokia has pretty packed up from the World. The mobiles industry is thriving with millions of userbase. If Nokia didnt adapt and innovate it was their problem. They would have met same fate irrespective of party in power.

Lastly saying "Mediocrity and no quality related standards" what does it even mean. Manufacturing industries follow global standards. Whatever industrial base we have is known for good quality levels. For example, There are Indian companies such as Motherson Sumi, Minda which export Auto parts to Mercs, Audi etc. India is not the venue for low cost production. We make quality products.

There was very little sense in that long paragraph. Most of it was just garbage. :dude: :dude:
 

Edinburgh

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To be honest I really hate any socialist scheme , fuck it , if you wanna pay someone freebies ,ask them to build a wall and break it at evening ,so they realise that they have to work anyway .

Even if you pay pension , ask them to do some small job if possible , if body allows , like reviewing global practice and submit their reports time to time , even if you throw those file in dustbin ,but a person should work , he shouldn't be given anything for free ,never ever
China, a nominally socialist country, has never given free things to those who can work .
Chinese scenic spots are only free for children under 120 centimeters and people over 65 years old.

However, some media coverage of China, some very derogatory, and some to the myth.
China generally does not work on Saturdays and Sundays every week.Apart from that, there are 21 legal holidays a year.About 125 days off a year. But many companies pay more, and employees have a day off every Sunday.Leave is also more free, but will deduct wages.
 
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captscooby81

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If you are credit worthy credit is available easily even if your industry is not doing that great . Banks are little slow in disbursing credit like before as most projects are not completed on time due to last year lockdown and migrant labour crisis but things are not as bad so far.

It is certainly not credit mela like Upa times where loans are thrown like diwal sale in saree shops .

no mate, don’t know much about credit side of the story.

maybe @captscooby81 knows, his industry gets impacted the most during credit crunch.
 

sorcerer

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Samsung sets up display unit in Uttar Pradesh


2 minutes


Electronics major Samsung has completed the construction of the display manufacturing unit that is shifted from China to Noida in Uttar Pradesh, a release said on Sunday. A delegation of electronics major Samsung led by the company's Southwest Asia President & CEO Ken Kang called upon Uttar Pradesh Chief Minister Yogi Adityanath on Sunday.


:india::india2:

and Fuck china
 

Lonewolf

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Samsung sets up display unit in Uttar Pradesh


2 minutes


Electronics major Samsung has completed the construction of the display manufacturing unit that is shifted from China to Noida in Uttar Pradesh, a release said on Sunday. A delegation of electronics major Samsung led by the company's Southwest Asia President & CEO Ken Kang called upon Uttar Pradesh Chief Minister Yogi Adityanath on Sunday.


:india::india2:

and Fuck china
Hope samsung ,is given more support to shift more production here , they may trigger the movement of whole supply chain
 

sorcerer

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Hope samsung ,is given more support to shift more production here , they may trigger the movement of whole supply chain
china may orchastrate a protest in Samsung , give it a big media coverage over some or other with the left ecosystem like in Apple unit which happened in Karnataka few months back.
 

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