Indian Economy: News and Discussion

doreamon

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Samsung displays are not just used by Samsung mobiles but in Iphones as well. Having this moved to India from China is the kick start we need for greater things in the future.

he first started with samsung dint move its display unit .. only a fraction was moved fr local demand .. then said it moved display unit because it was not doing good business in china .. wht abt the fact that it saw good opportunity in india and specially in UP the cow belt .. So the comments are not for exchanging ideas .. it is for certain objective i.e plz dont give credit to govt .. :devil:
 

Haldilal

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Ya'll Nibbiars The National Company Law Tribunal (NCLT) earlier this week has ordered the winding up of the Devas Multimedia Private Ltd. (Devas), following a petition filed by the Antrix Corporation Ltd. (Antrix) – the commercial arm of India Space Research Organisation (ISRO). At the core of this dispute is a 2005 agreement between Antrix and Devas for the lease of satellite spectrum which was annulled in 2011 following the policy decision of the Indian government to reserve the S-Band for national and strategic purposes. Apart from the commercial arbitration at the ICC, the dispute between Antrix and Devas has also manifested two Bilateral Investment Treaty (BIT)-based arbitrations, CC/Devas v India, under India-Mauritius BIT, and Deutsche Telekom v India, under the India-Germany BIT. This piece dwells on the impact of the NCLT decision on the BIT arbitration awards, and the overall handling of BIT arbitrations by India.

Important to note here that the BIT arbitrations are conceptually and legally distinct from the commercial arbitrations under ICC, notwithstanding that they were conducted parallelly. The BIT tribunal in CC/Devas held the Indian government responsible for indirect expropriation, and violation of fair and equitable treatment (FET) standard of the BIT. In October 2020, it awarded $111.30 million plus interest in compensation to CC/Devas. In December 2017, the tribunal in Deutsche Telekom also held India responsible for the breach of FET contained in the India-Germany BIT, and in May 2020 awarded $101 million plus interest in compensation to the Deutsche Telekom which held 19 % shareholding in Devas. India challenged both these awards at their respective seats of arbitration – the CC/Devas award at the Hague District Court and the Deutsche Telekom award at the Swiss Federal Supreme Court. Both these courts have upheld the BIT awards. An important issue in a BIT arbitration is ‘whether the foreign investment has been made in accordance with the laws of the host state’. This requirement is also known as the legality requirement. In other words, an investment not made in accordance with the laws of the host state cannot seek the protection of the BIT. An investment made as a result of corruption and fraud would fall in that category. This objection can be raised by the host state to challenge the jurisdiction of the arbitral tribunal, and has been done in several BIT arbitration cases. In the CC/Devas arbitration, India did not raise a jurisdictional objection based on the grounds of corruption and fraud of Devas and the illegality of the investments made, until the tribunal finalised its award on July 25, 2016. It was only in December 2016 that India requested the suspension of arbitral proceedings related to compensation on the ground that the Central Bureau of Investigation (CBI) had filed chargesheets against several officials of Devas as well as the government for crimes under the IPC and Prevention of Corruption Act.

The Indian government made a similar request to the Deutsche Telekom tribunal in October 2016 seeking suspension of the arbitral proceedings, only after the hearing phase was over. The request was rejected by the tribunal which stated that it was untimely and against the procedural requirements. The core argument in both these requests was that if the charges are upheld in the court, the Antrix-Devas agreement would be void ab initio under Indian law, and the tribunal’s determination that the ‘Devas agreement was a valid and binding agreement and an ‘investment’ under the BIT could not be sustained’. This argument must have been raised as a preliminary objection to the jurisdiction of the tribunal, even though the investigations by CBI and Enforcement Directorate (ED) were ongoing and the chargesheet had yet not been filed.

The practice and jurisprudence related to dealing with corruption in international arbitration are far from settled, and still in the process of development, with divergent views, which could have been beneficial to India. As Lucinda Low notes, given the proliferation of international instruments and consolidation of obligations related to prevention, detection and remediation in both the public and private sectors, corruption has come to be accepted as an international and transnational public policy issue, and both BIT arbitration tribunals and commercial arbitration tribunals need to address the issues related to jurisdiction, admissibility, etc. arising out of the allegations of corruption. The Indian government would have had at least a shot at having the BIT arbitral proceedings stayed until the investigation was complete. It would have certainly put the Indian government in a relatively better position. This point was highlighted by the Swiss Federal Supreme Court in its decision of December 2018, on the set-aside proceedings related to Deutsche Telekom when it observed while holding the Indian government’s objection as time-barred – it is difficult to understand why the appellant did not mention these circumstances, which were indicative, at the very least, of suspicion of commission of criminal offences in its writings in the arbitration file, then during the hearing in April 2016, or its brief after inquiries of June 10, 2016, preferring to wait until October 24, 2016, to inform the tribunal.
 

Dark Sorrow

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India's Prime Minister Narendra Modi waves at the crowd during a ceremony to celebrate country's 73rd Independence Day, which marks the of the end of British colonial rule, at the Red Fort in New Delhi on August 15, 2019.
image
Narendra Modi stormed India's political stage with grand promises - of more jobs, prosperity and less red tape.
His thumping mandate - in 2014 and again in 2019 - raised hopes of big bang reforms.
But his economic record, in the seven years he's been prime minister, has proved lacklustre. And the pandemic battered what was an already under-par performance.
Here's how Asia's third-largest economy has fared under Mr Modi, in seven charts.
Growth is sluggish
Mr Modi's avowed GDP target - a $5 trillion (£3.6 trillion) economy by 2025, or roughly $3 trillion after adjusting for inflation - is a pipe dream now.
Independent pre-Covid estimates for 2025 had touched $2.6 trillion at best. The pandemic has shaved off another $200-300bn.

Rising inflation, driven by global oil prices, is also a big concern, economist Ajit Ranade said.
India's GDP is too low and its inflation too high

But Covid is not solely responsible.
India's GDP - at a high of 7-8% when Mr Modi took office - had fallen to its lowest in a decade - 3.1% - by the fourth quarter of 2019-20.
A disastrous currency ban in 2016, which wiped out 86% of cash in circulation, and a hasty roll-out of a sweeping new tax code, known as the Goods and Services Tax (GST), hit businesses hard.
This spurred the next big problem.
Joblessness is on the rise
"India's biggest challenge has been a slowdown in investments since 2011-12," said Mahesh Vyas, CEO of the Centre for Monitoring the Indian Economy (CMIE). "Then, since 2016, we have suffered too many economic shocks in quick succession."

The currency ban, GST and intermittent lockdowns all reduced employment, he added.
Unemployment has been on the rise

Unemployment climbed to a 45-year high - 6.1% - in 2017-18, according to the last official count. And it has nearly doubled since then, according to household surveys by CMIE, a widely-used proxy for labour market data.
More than 25 million people have lost their jobs since the start of 2021. And more than 75 million Indians have plunged back into poverty, including a third of India's 100 million-strong middle class, setting back half a decade of gains, according to estimates by Pew Research.
Mr Modi's government has also created far short of the 20 million jobs the economy needs every year, Mr Ranade said. India has been adding only around 4.3 million jobs a year for the last decade.
India is not making or exporting enough
'Make in India' - Mr Modi's high-octane flagship initiative - was supposed to turn India into a global manufacturing powerhouse by cutting red tape and drawing investment for export hubs.
The goal: manufacturing would account for 25% of GDP. Seven years on, it's share is stagnant at 15%. Worse, manufacturing jobs went down by half in the last five years, according to the Centre for Economic Data and Analysis.

Exports have been stuck at around $300bn for nearly a decade.
Under Mr Modi, India has steadily lost market share to smaller rivals such as Bangladesh, whose remarkable growth has hinged on exports, largely fuelled by the labour-intensive garments industry.
Bangladesh has become a major export rival

Mr Modi has also hiked tariffs and turned increasingly protectionist in recent years - in tandem with his rallying cry for "self-reliance".
Infrastructure building is a rare bright spot
Mr Modi's government has been laying 36km (22 miles) of highways a day on average, compared to his predecessor's daily count of 8-11km, said Vinayak Chatterjee, co-founder of infrastructure firm Feedback Infra.
Installed renewables capacity - solar and wind - has doubled in five years. Currently at about 100 gigawatts, India is on track to achieve its 2023 target of 175 gigawatts.
Economists also largely welcomed Mr Modi's populist signature schemes - millions of new toilets to reduce open defecation, housing loans, subsidised cooking gas and piped water for the poor.
But many of the toilets aren't used or have no running water, and rising fuel prices have undone the benefit of the subsidy.
And the increased spending with no matching income from taxes or exports has economists worrying about India's ballooning fiscal deficit.
India is spending more mney than it has

More people have joined the formal economy
This is Mr Modi's other big achievement.
India has leapfrogged towards becoming a global leader in digital payments, thanks to a government-backed payment system. Mr Modi's Jan Dhan scheme has enabled millions of unbanked poor families to enter the formal economy with "no-frills" bank accounts.
Accounts and deposits have risen - a good sign, although reports suggest many of these accounts lie unused.
Most Indians now have a bank account

But economists say this is a huge step in the right direction, especially since it allows the direct transfer of cash benefits, cutting out middlemen.
Healthcare spending is dismal
"Like previous governments, this one has continued to neglect healthcare. India has among the lowest levels of public spending on healthcare in the world," economist Reetika Khera said.
Experts say the emphasis is on tertiary care at the expense of preventive or primary care.
India has always spent too little on health

"This is hurtling us towards a US-style health system which is expensive and has poorer health outcomes in spite of that," Ms Khera added.
And Mr Modi's ambitious health insurance scheme, launched in 2018, appears to have been under-used even during Covid.
"It was long awaited but more resources need to go into it," said public health expert Dr Srinath Reddy. India needs to use Covid as a wake-up call to invest heavily in strengthening primary healthcare, he added.
Too many still work in farming
Farming employs more than half of India's working-age population but contributes too little to GDP.
Farming has grown too little over the years

Almost everyone agrees India's farming sector needs reform. Pro-market laws passed last year are stuck after months-long protests by angry farmers who say they will shrink their incomes further.
Mr Modi, who had promised to double farm incomes, insists that's not true.
But experts say piecemeal reforms will achieve little - the government instead needs to spend to make farming more affordable and profitable, economist Professor R Ramakumar said.
"Demonetisation destroyed the supply chains, some irreparably, and GST led to a rise in input prices in 2017. The government has also done very little to alleviate the pain of 2020 [Covid lockdowns]," he added.
Mr Ranade said the solution partly lies outside farming: "Agriculture will do well when other sectors are able to absorb the surplus labour."
But that will only happen when India sees a revival in private investment - now at a 16-year low, according to CMIE - and possibly the biggest economic challenge Mr Modi faces.

Link
 

t 90s

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there is a massive conspiracy to evict modi & BJP out of power. he has done quite a lot notwithstanding propaganda. I was a massive critic of him, not anymore. govt need to do a lot on unemployment & underemployment front though but her hands are tied to the forces of nature.
 

Crazywithmath

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India's Prime Minister Narendra Modi waves at the crowd during a ceremony to celebrate country's 73rd Independence Day, which marks the of the end of British colonial rule, at the Red Fort in New Delhi on August 15, 2019.'s Prime Minister Narendra Modi waves at the crowd during a ceremony to celebrate country's 73rd Independence Day, which marks the of the end of British colonial rule, at the Red Fort in New Delhi on August 15, 2019.
image
Narendra Modi stormed India's political stage with grand promises - of more jobs, prosperity and less red tape.
His thumping mandate - in 2014 and again in 2019 - raised hopes of big bang reforms.
But his economic record, in the seven years he's been prime minister, has proved lacklustre. And the pandemic battered what was an already under-par performance.
Here's how Asia's third-largest economy has fared under Mr Modi, in seven charts.
Growth is sluggish
Mr Modi's avowed GDP target - a $5 trillion (£3.6 trillion) economy by 2025, or roughly $3 trillion after adjusting for inflation - is a pipe dream now.
Independent pre-Covid estimates for 2025 had touched $2.6 trillion at best. The pandemic has shaved off another $200-300bn.

Rising inflation, driven by global oil prices, is also a big concern, economist Ajit Ranade said.
India's GDP is too low and its inflation too high's GDP is too low and its inflation too high

But Covid is not solely responsible.
India's GDP - at a high of 7-8% when Mr Modi took office - had fallen to its lowest in a decade - 3.1% - by the fourth quarter of 2019-20.
A disastrous currency ban in 2016, which wiped out 86% of cash in circulation, and a hasty roll-out of a sweeping new tax code, known as the Goods and Services Tax (GST), hit businesses hard.
This spurred the next big problem.
Joblessness is on the rise
"India's biggest challenge has been a slowdown in investments since 2011-12," said Mahesh Vyas, CEO of the Centre for Monitoring the Indian Economy (CMIE). "Then, since 2016, we have suffered too many economic shocks in quick succession."

The currency ban, GST and intermittent lockdowns all reduced employment, he added.
Unemployment has been on the rise

Unemployment climbed to a 45-year high - 6.1% - in 2017-18, according to the last official count. And it has nearly doubled since then, according to household surveys by CMIE, a widely-used proxy for labour market data.
More than 25 million people have lost their jobs since the start of 2021. And more than 75 million Indians have plunged back into poverty, including a third of India's 100 million-strong middle class, setting back half a decade of gains, according to estimates by Pew Research.
Mr Modi's government has also created far short of the 20 million jobs the economy needs every year, Mr Ranade said. India has been adding only around 4.3 million jobs a year for the last decade.
India is not making or exporting enough
'Make in India' - Mr Modi's high-octane flagship initiative - was supposed to turn India into a global manufacturing powerhouse by cutting red tape and drawing investment for export hubs.
The goal: manufacturing would account for 25% of GDP. Seven years on, it's share is stagnant at 15%. Worse, manufacturing jobs went down by half in the last five years, according to the Centre for Economic Data and Analysis.

Exports have been stuck at around $300bn for nearly a decade.
Under Mr Modi, India has steadily lost market share to smaller rivals such as Bangladesh, whose remarkable growth has hinged on exports, largely fuelled by the labour-intensive garments industry.
Bangladesh has become a major export rival

Mr Modi has also hiked tariffs and turned increasingly protectionist in recent years - in tandem with his rallying cry for "self-reliance".
Infrastructure building is a rare bright spot
Mr Modi's government has been laying 36km (22 miles) of highways a day on average, compared to his predecessor's daily count of 8-11km, said Vinayak Chatterjee, co-founder of infrastructure firm Feedback Infra.
Installed renewables capacity - solar and wind - has doubled in five years. Currently at about 100 gigawatts, India is on track to achieve its 2023 target of 175 gigawatts.
Economists also largely welcomed Mr Modi's populist signature schemes - millions of new toilets to reduce open defecation, housing loans, subsidised cooking gas and piped water for the poor.
But many of the toilets aren't used or have no running water, and rising fuel prices have undone the benefit of the subsidy.
And the increased spending with no matching income from taxes or exports has economists worrying about India's ballooning fiscal deficit.
India is spending more mney than it has

More people have joined the formal economy
This is Mr Modi's other big achievement.
India has leapfrogged towards becoming a global leader in digital payments, thanks to a government-backed payment system. Mr Modi's Jan Dhan scheme has enabled millions of unbanked poor families to enter the formal economy with "no-frills" bank accounts.
Accounts and deposits have risen - a good sign, although reports suggest many of these accounts lie unused.
Most Indians now have a bank account

But economists say this is a huge step in the right direction, especially since it allows the direct transfer of cash benefits, cutting out middlemen.
Healthcare spending is dismal
"Like previous governments, this one has continued to neglect healthcare. India has among the lowest levels of public spending on healthcare in the world," economist Reetika Khera said.
Experts say the emphasis is on tertiary care at the expense of preventive or primary care.
India has always spent too little on health

"This is hurtling us towards a US-style health system which is expensive and has poorer health outcomes in spite of that," Ms Khera added.
And Mr Modi's ambitious health insurance scheme, launched in 2018, appears to have been under-used even during Covid.
"It was long awaited but more resources need to go into it," said public health expert Dr Srinath Reddy. India needs to use Covid as a wake-up call to invest heavily in strengthening primary healthcare, he added.
Too many still work in farming
Farming employs more than half of India's working-age population but contributes too little to GDP.
Farming has grown too little over the years

Almost everyone agrees India's farming sector needs reform. Pro-market laws passed last year are stuck after months-long protests by angry farmers who say they will shrink their incomes further.
Mr Modi, who had promised to double farm incomes, insists that's not true.
But experts say piecemeal reforms will achieve little - the government instead needs to spend to make farming more affordable and profitable, economist Professor R Ramakumar said.
"Demonetisation destroyed the supply chains, some irreparably, and GST led to a rise in input prices in 2017. The government has also done very little to alleviate the pain of 2020 [Covid lockdowns]," he added.
Mr Ranade said the solution partly lies outside farming: "Agriculture will do well when other sectors are able to absorb the surplus labour."
But that will only happen when India sees a revival in private investment - now at a 16-year low, according to CMIE - and possibly the biggest economic challenge Mr Modi faces.

Link
BBC article! :dude:
Demo and GST had very little impact on medium term growth. There are extensive works of Gita Gopinath who repeatedly pointed out the same. India's economy was slowed down due to banking crisis and credit crunch and resulting NPAs. All of them can be attributed to MMS era and as usual this article does not mention it! Modi's only problem was he was slow te realise it's true extent. Modi delivered solid growth in the first four years but again this article skips it ( it was only in late 2018 when the economy started slowing down). He is also carrying out major reforms to sort out banking sector and move out a major share of workforce from unproductive farm sector to manufacturing, service and construction. Due to the positive steps taken exports are steadily rising and no, it is not pent up demand only that is responsible. India probably has the most liberal investment policy in the world now. Bangladesh's growth is driven by cheap ready-made textile exports coupled with low wages, poor working conditions and GSP status which is unlikely to continue in the longer term. Also their currency is overvalued. Most of the economies in the world barring Vietnam (who was the direct winner in trade conflict) etc slowed down due to various reasons. I don't see how India is unique. Of course, that is no excuse for bad performance but why not be a little more rational. Why quote only the growth if a specific year and deliberately leaving the other years? Also what else should the government do to 'alleviate' the pain of covid 19? To tax the rich more and go back to those dark ages of the 60s and 70s? To print more money to pump up inflation as advised by Abhijeet Binayak whom his own nation the US of A does not take seriously? Sanjeev Sanyal put it very well. Ask the foreign economists to convince their respective governments to increase tax rates and let's see if they are successful. On top of that it even quotes CMIE data and those Pew Research data! :facepalm:
 
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sorcerer

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Indian Railways successfully completes work on the Valsad Road Over Bridge (ROB) on Dedicated Freight Corridor in a record 20 day time.

The biggest challenge in doing this work was road traffic block, as this ROB is one of the busiest passages into the city of Valsad from Mumbai-Delhi highway.

Work on Freight Corridor proceeds on inspite of Covid challenges that came in the way.


Posted On: 22 JUN 2021 3:34PM by PIB Delhi



Indian Railways’ PSU, Dedicated Freight Corridor Corporation of India (DFCCIL) has completed work of dismantling and reconstruction (after making way for DFC tracks) of Valsad Road Over Bridge (ROB) on the Western Dedicated Freight Corridor in the state of Gujarat in a record 20 day time.


Working in tandem with various Government agencies and the civil administration, the ROB which funnels busy traffic into Valsad ROB from the Mumbai-Delhi highway, a 20 day traffic block was secured on 02.06.2021 for dealing with this challenge.


Background:


Work in Western DFC’s Vaitarana – Sachin section faced a bottleneck of crossing a ROB near Valsad Town in South Gujarat. The ROB work could not be started due to various limitations and track laying activities would have been adversely affected. Track laying projects using state of the art New Track Construction (NTC) machine, would have been affected.


The Solution :


The project team geared up to take up this challenge. After many brainstorming sessions, an innovative solution was arrived at. The solution proposed was to insert a Twin precast box of 16m x 10m size on the approach of the ROB to take the NTC forward through it. The biggest challenge in doing this work was road traffic block, as this ROB is one of the busiest passages into the city of Valsad from Mumbai-Delhi highway. The whole work is planned to be completed in 20 days road traffic block.


Extensive arrangements were made for pre-casting of these huge segments. Despite lock-downs and travel restrictions, a team of approximately 150 nos, including senior engineers toiled day & night to finish the casting works. Road traffic block was granted by the district administration of Valsad, responding favorably to the proposal.


The road traffic block of 20 days commenced on 02-06-2021 and the work is progressing as per planning. Four heavy duty hydraulic cranes having capacity varying from 300 MT to 500 MT are mobilized for the installation of these segments. Another challenge that was difficult to handle was solved by innovation in local handling of the segments. The precast segments are too big & heavy to handle without causing any internal stresses during handling. The Project Team has designed a special carrier using a multi-axle trailer fitted with a steel platform on it. The fabrication of the steel platform was completely done at site even during the period when the industrial oxygen supply was prohibited in the country. The team could overcome all such constraints by continuously striving for alternatives and by taping the collective wisdom & experience of the team.


It may be noted that the Western Corridor connecting Dadri in Uttar Pradesh to Jawaharlal Nehru Port (JNPT) in Mumbai will traverse through the states of UP, Haryana, Rajasthan, Gujarat and Maharashtra of WDFC & EDFC.


WDFC’s 306 km Rewari - Madar section was dedicated to the nation on 07.01.2021. Trial run of 369 km of WDFC between New Palanpur to New Kishangarh has been done. EDFC’s 351 km New Bhaupur - New Khurja section and the Operation Control Centre at Prayagraj were dedicated to the nation by the Hon’ble PM on 29.12.2020. A total of approx. 2800 route Km of the whole WDFC and EDFC (excluding the Sonnagar – Dankuni PPP section) will be commissioned by June 2022.


In the commissioned sections, a total of more than 4000 trains have been run. In Eastern DFC, it has more than 3000 trains and in WDFC more than 1000 trains. Total GTKM has crossed the 3 million ton mark. Some of the trains in the section are achieving an average speed of 99.38 kmph in EDFC and 92 kmph in WDFC. These speeds are comparable to any of the fastest mail express trains.
 

sorcerer

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Charge car on the road — Delhi-Jaipur stretch could be India's first e-highway by mid-2022


New Delhi:
The Modi government is working towards rolling out a pilot project to construct electric highways in India. Sources in the road ministry said the first stretch of e-highways is likely to be completed by mid-2022.


An electric highway or electric road recharges the batteries of vehicles driving on it. It is considered an energy-efficient option and helps in reducing carbon footprint.


The e-highway project has been a keen focus area for Union Road Transport and Highways Minister Nitin Gadkari. In an interview with PTI in 2016, Gadkari had said India may soon have an ‘electric highway’ stretch, similar to the one in Sweden.


Caution: The Print
 

sorcerer

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Govt Electrifies 19 Villages In Siachen With Renewable Power, Takes Ladakh Closer To Carbon-Neutrality Goal
Swarajya Staff

2 minutes



In a positive development, the Government has successfully electrified as many as 19 villages in Siachen, taking Ladakh closer to the milestone of achieving carbon neutrality, reports The Economic Times.
The electrified villages are Chamshen, Kuri, Charasa, Burma, Pinchimik, Hasara, Kyagar, Sumooor, Lakjung, Tirith, Tyaksha, Panamik, Tirisha, Hargyam, Fukpochey, Kobet, Ayee, Aranu and Sasoma.



 

Haldilal

लड़ते लड़ते जीना है, लड़ते लड़ते मरना है
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Ya'll Nibbiars The case of the Vanishing Companies need Digital Tracking to tap on them by the SEBI.
 

sorcerer

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BPCL set to commission acrylate unit at Rs 6,000-cr Kochi PDP complex shortly - ET EnergyWorld


With the commissioning of the PDP complex, BPCL joins the world leaders in this space such as Tasnee of Saudi Arabia, Dow Chemicals of the US, BASF of Germany and Sasol of South Africa, among others, which control the 22 million tonnes market globally.

These six niche products will together replace almost 90 per cent of the imports in this segment, Khanna said.

The unit making acrylic acid -- used in hygienic medical products, detergents, wastewater treatment chemicals, plastics, coatings, adhesives, elastomers, paints and polishes -- is the largest single train unit in the world with capacity of 1.6 lakh mtpa and also the first in the country.

 

FalconSlayers

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Eyewash, Bihar needs increased spending on education and infra.

@Haldilal
 

FalconSlayers

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BBC article! :dude:
Demo and GST had very little impact on medium term growth. There are extensive works of Gita Gopinath who repeatedly pointed out the same. India's economy was slowed down due to banking crisis and credit crunch and resulting NPAs. All of them can be attributed to MMS era and as usual this article does not mention it! Modi's only problem was he was slow te realise it's true extent. Modi delivered solid growth in the first four years but again this article skips it ( it was only in late 2018 when the economy started slowing down). He is also carrying out major reforms to sort out banking sector and move out a major share of workforce from unproductive farm sector to manufacturing, service and construction. Due to the positive steps taken exports are steadily rising and no, it is not pent up demand only that is responsible. India probably has the most liberal investment policy in the world now. Bangladesh's growth is driven by cheap ready-made textile exports coupled with low wages, poor working conditions and GSP status which is unlikely to continue in the longer term. Also their currency is overvalued. Most of the economies in the world barring Vietnam (who was the direct winner in trade conflict) etc slowed down due to various reasons. I don't see how India is unique. Of course, that is no excuse for bad performance but why not be a little more rational. Why quote only the growth if a specific year and deliberately leaving the other years? Also what else should the government do to 'alleviate' the pain of covid 19? To tax the rich more and go back to those dark ages of the 60s and 70s? To print more money to pump up inflation as advised by Abhijeet Binayak whom his own nation the US of A does not take seriously? Sanjeev Sanyal put it very well. Ask the foreign economists to convince their respective governments to increase tax rates and let's see if they are successful. On top of that it even quotes CMIE data and those Pew Research data! :facepalm:
Not every thing is a propaganda
 

Chandragupt Maurya

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IndianYonko

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The Minister said that Bihar was on top of all states in the country in receiving investment proposals during Corona pandemic.
Screenshot_20210622-215911_Chrome.jpg


Look at the first line. Really? 😂😂😂
 

Crazywithmath

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Not every thing is a propaganda
It reads farm reforms are piecemeal and will achieve little! This same reform has been repeatedly proposed from the 80s and even IMF back in 1991 wanted GOI to go with them. IMF went as far as saying that it was a necessary step that would potentially transform India's agri economy. After sleeping for several years finally when mudiji is doing something that was pending for decades this article calls it piecemeal and will achieve little.:crazy:
Fine, what it says is the absolute truth. :daru:
 

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