- Jan 14, 2013
Congress and BJP seem to be racing each other to the bottom.
Ya'll Nibbiars is Finance Minister ki to. Sab kuch barbad karne par tule hai yeh Tai.India Business News: Finance minister Nirmala Sitharaman on Friday clarified that petrol and diesel price will not be brought the goods and services tax (GST) regime yet.m.timesofindia.com
The biggest failure of the liberalization was the failure to create a middle class with purchasing power.india ranks 76 among 82 economies in social mobility index this is a very important metric because this means the wealth is getting concentrated to a few individuals and the rest of them can't quite climb the social ladder due to a wealth of reasons
I have said this before and I will say this again. These Pew Research Center and CMIE surveys do not mean a thing. I even shared a detailed analysis made by Dr. Arvind Virmani.The biggest failure of the liberalization was the failure to create a middle class with purchasing power.
What liberalization instead has done in the past 30 years is that it has created exponential growth in incomes of the well offs where as the downtrodden majority have only seen marginal increase in fortune.
Unlike China where people jumped from absolute poverty to middle class with big spending power,India has only been able to lift people from absolute poverty to a state of vulnerability(low income group) and are mostly susceptible to economic shocks.So it does not come as a surprise that India is seeing a rapid rise in poverty.
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This is bound to happen when you prioritize only niche service sectors which benefits only a miniscule amount of the population.
Never heard of this index; who compiles it? Also, not sure how much one can concur when only 82 nations are taken into account. Any detailed analysis?
What exactly is the disputable issue here ?I have said this before and I will say this again. These Pew Research Center and CMIE surveys do not mean a thing. I even shared a detailed analysis made by Dr. Arvind Virmani.
Also, on a side note china (since you cannot write a post without mentioning them) libetated their economy way way before India even imagined; I am sure you know this.
The pew research center survey data is unreliable. They claim to collect figures from povcal but their figures do not add up. Also, it is not wise to extrapolate a temporary hiccup to paint a larger picture. A lot of surveys made by them and CMIE have extremely narrow sample space. One survey just outright asked a few people whether they had lost jobs or not and then just extrapolated it. The fact that some people might have fallen into poverty cannot be denied at all; the doubts are on the actual figures which seem to be highly exaggerated. Already posted a detailed analysis here made by an eminent Indian economist.What exactly is the disputable issue here ?
The fact that India has a middle class with no purchasing power is a known fact.
The fact that only a small number of Indians have seen a sharp rise in their fortune is an indisputable fact.
How much money are they actually making, or rather how much cash are they burning? 3k Cr in 2years is a huge number, my concern is most of it is going to sekular woke harami actors/producers.Mumbai: Global streaming platform Netflix will pump more money into producing content in India, said chief executive officer Reed Hastings. The key executive of the streaming giant was speaking to Business Today’s global business editor Udayan Mukherjee in an interview. The company has already...www.indiantelevision.com
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