Indian Economy: News and Discussion

thebakofbakchod

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Economic growth has already lost steam. 2 wheeler sales are decreasing, cement and steel consumption have stagnated. If the PLI scheme fails to bring in actual investments, we will be looking at almost 15 years of wasted growth (from 2011-2024). The BJP has completely failed on the economic front sad to say. And flopped even harder on the reform front compared to what was expected of them
 

Concard

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is there a way to find out if the current 2021 debt (the one the news report is talking about) was taken to clear 2013-14 debt?
I don't know. But I don't think we would have taken such large amounts of loans to pay off old debts. Maybe debts were rolled over. We are not getting a clear picture. I am sure RBI would have known what is happening with respect external debt situation. RBI most likely should start buying dollars just in any case.
 

Concard

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Economic growth has already lost steam. 2 wheeler sales are decreasing, cement and steel consumption have stagnated. If the PLI scheme fails to bring in actual investments, we will be looking at almost 15 years of wasted growth (from 2011-2024). The BJP has completely failed on the economic front sad to say. And flopped even harder on the reform front compared to what was expected of them
You do realize you will look like an idiot if you don't backup your statements with facts and analysis?
 

Haldilal

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You do realize you will look like an idiot if you don't backup your statements with facts and analysis?
Ya'll Nibbiars if want to blame some one then blame Tai complete economic idiot. Don't knew when they will wake up and throw the Tai out of the finance minister.
 

Covfefe

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Ya'll Nibbiars if want to blame some one then blame Tai complete economic idiot. Don't knew when they will wake up and throw the Tai out of the finance minister.
Other than minister and personnel change, what are the policy alternatives driven by Finance Ministry that you would've loved to see, billu?
 

Haldilal

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Other than minister and personnel change, what are the policy alternatives driven by Finance Ministry that you would've loved to see, billu?
Ya'll Nibbiars

These would be the basic changes.

1 . More adaptive policies.

2 . Change in the fuel policies.

3 . Improve in the Rail funding.

4 . Aggressive adoptions of the Global accounting standards.

5 . The bad bank project is going slow need to fast track it.

6 . Fast track of the public sectors disinvestments.

7 . Needs changes in SEBI to secure the investors confidences.

8 . Major reforms in the RBI.

9 . The Prolonged regulatory failures need to be addressed.

10 . The banking reform are must and specially the public sectors.

11 . The fleecing of the floating rate borrowers need to be addressed.

12 . The ease of doing business beyond the quick fixes.

13 . Needs a powerful SEBI Chief.

14 . The public sector banking. Accuracy and Transparency Firsts.

15 . The ALGOS needs to be regulateds.

16 . The IRADI Reforms.

17 . The real estate bankruptcy needs to be resolveds.

18 . The tax online issues need to be addressed.

19 . The State electricity regulatory reforms.

20 . The digit Dabba trading issues need to be addressed.

21 . The Bankruptcy Code needs strict Implementations.
 
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Covfefe

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Ya'll Nibbiars

These would be the basic changes.

1 . More adaptive policies.

2 . Change in the fuel policies.

3 . Improve in the Rail funding.

4 . Aggressive adoptions of the Global accounting standards.

5 . The bad bank project is going slow need to fast track it.

6 . Fast track of the public sectors.

7 . Needs changes in SEBI to secure the investors confidences.

8 . Major reforms in the RBI.

9 . The Prolonged regulatory failures need to be addressed.

10 . The banking reform are must and specially the public sectors.

11 . The fleecing of the floating rate borrowers need to be addressed.

12 . The ease of doing business beyond the quick fixes.

13 . Needs a powerful SEBI Chief.

14 . The public sector banking. Accuracy and Transparency Firsts.

15 . The ALGOS needs to be regulateds.

16 . The IRADI Reforms.

17 . The real estate bankruptcy needs to be resolveds.

18 . The tax online issues need to be addresseds.
1) explain what do mean by "adaptive policies" and what more do you want of it
2)you mean cess and surcharge reduction from the central government end? "Fuel policy" is a very broad term
3) Every department needs improved funding. If rail's share is to be increased then whose budget should face a slash?
4) accounting standards for who? The banks? Or the departments? Banks accounting standards are maintained by RBI and that of public departments by Controller General of Accounts- both operate with relative independence from FinMin
5) agreed
6) what does "fast track of public sectors" even mean?
7) what changes in SEBI? Which element of investors' confidence is missing?
8) agreed
9) where did India have "regulatory failure" in financial sector?
10) agreed
11) to address the borrowing rate issue, a floating rate linkage was mandated- what else you suggest? Anyway, that's a RBI mandate, FinMin can't directly intervene in borrowing rate decisions
12)ease of doing business is a bigger thing that needs intervention from multiple departments and the whole of the federal structure- central, state and local body. What is your ask from the FinMin in particular?
13) powerful manjhe? Jayakant Shikre type powerful?
14) public sector banking you covered above already
15) ALGOs are already regulated to a certain extent. What more changes you want? And what do other major stock exchanges practice in order to safeguard retail investors' interests from Algo?
16)IRDAI*- what reforms you want?
17) RBI had opened special liquidity window for NBFCs and SCBs(with co lending model) to ensure sector specific lending that included real estate. What else needs to be done?
18) agreed. More than issue resolution they should avoid changing formats every second month, the whole accounting software needs change and that's a pain for small businesses
 

Haldilal

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1) explain what do mean by "adaptive policies" and what more do you want of it
2)you mean cess and surcharge reduction from the central government end? "Fuel policy" is a very broad term
3) Every department needs improved funding. If rail's share is to be increased then whose budget should face a slash?
4) accounting standards for who? The banks? Or the departments? Banks accounting standards are maintained by RBI and that of public departments by Controller General of Accounts- both operate with relative independence from FinMin
5) agreed
6) what does "fast track of public sectors" even mean?
7) what changes in SEBI? Which element of investors' confidence is missing?
8) agreed
9) where did India have "regulatory failure" in financial sector?
10) agreed
11) to address the borrowing rate issue, a floating rate linkage was mandated- what else you suggest? Anyway, that's a RBI mandate, FinMin can't directly intervene in borrowing rate decisions
12)ease of doing business is a bigger thing that needs intervention from multiple departments and the whole of the federal structure- central, state and local body. What is your ask from the FinMin in particular?
13) powerful manjhe? Jayakant Shikre type powerful?
14) public sector banking you covered above already
15) ALGOs are already regulated to a certain extent. What more changes you want? And what do other major stock exchanges practice in order to safeguard retail investors' interests from Algo?
16)IRDAI*- what reforms you want?
17) RBI had opened special liquidity window for NBFCs and SCBs(with co lending model) to ensure sector specific lending that included real estate. What else needs to be done?
18) agreed. More than issue resolution they should avoid changing formats every second month, the whole accounting software needs change and that's a pain for small businesses
Ya'll Nibbiars is Prashna ka uttar Rath ko Duga abhi kheth mein busy hui.
 

Shuturmurg

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Other than minister and personnel change, what are the policy alternatives driven by Finance Ministry that you would've loved to see, billu?
In my humble opinion, there has not been enough emphasis on getting labor intensive low value manufacturing off the ground. Bangladesh doing more textile exports than us is shameful for us, provided that in some Indian states like UP, Bihar,MP, etc. cost of labor is lower than them.

We have a large number of youth entering labor force each year, only way we can provide jobs is through low end, labor intensive manufacturing. Goverment's PLI schemes are doing good job of incentivizing middle end and high end manufacturing but still lacking in low end. For eg : current PLI scheme for textiles targets Technical and man made textiles (like polyester), which are more specialized and middle value manufacturing but not much for low end cotton garments, shoes, etc.
 

Covfefe

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In my humble opinion, there has not been enough emphasis on getting labor intensive low value manufacturing off the ground. Bangladesh doing more textile exports than us is shameful for us, provided that in some Indian states like UP, Bihar,MP, etc. cost of labor is lower than them.

We have a large number of youth entering labor force each year, only way we can provide jobs is through low end, labor intensive manufacturing. Goverment's PLI schemes are doing good job of incentivizing middle end and high end manufacturing but still lacking in low end. For eg : current PLI scheme for textiles targets Technical and man made textiles (like polyester), which are more specialized and middle value manufacturing but not much for low end cotton garments, shoes, etc.
Bangladesh had the tax breaks due to its LDC status hence the large volume of exports to EU+US. But not to take anything away from them, they did work towards investing into women cooperatives, credit for small businesses and absence of the relatively better safety net by the Indian government.
Also, centre can only do so much- in the name of cooperatives most of the states have done corruption only(especially the states you mentioned). In states like TN and Gujrat, low value high employment garment manufacturing did see it's fair share of success. Delhi also had them in abundance but our first world problems of green environment (and hungry people) kicked out a lot of such industries out of NCR.
 

Haldilal

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In my humble opinion, there has not been enough emphasis on getting labor intensive low value manufacturing off the ground. Bangladesh doing more textile exports than us is shameful for us, provided that in some Indian states like UP, Bihar,MP, etc. cost of labor is lower than them.

We have a large number of youth entering labor force each year, only way we can provide jobs is through low end, labor intensive manufacturing. Goverment's PLI schemes are doing good job of incentivizing middle end and high end manufacturing but still lacking in low end. For eg : current PLI scheme for textiles targets Technical and man made textiles (like polyester), which are more specialized and middle value manufacturing but not much for low end cotton garments, shoes, etc.
Ya'll Nibbiars that comes under human resources and not the finance ministry's.
 

Haldilal

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1) explain what do mean by "adaptive policies" and what more do you want of it
2)you mean cess and surcharge reduction from the central government end? "Fuel policy" is a very broad term
3) Every department needs improved funding. If rail's share is to be increased then whose budget should face a slash?
4) accounting standards for who? The banks? Or the departments? Banks accounting standards are maintained by RBI and that of public departments by Controller General of Accounts- both operate with relative independence from FinMin
5) agreed
6) what does "fast track of public sectors" even mean?
7) what changes in SEBI? Which element of investors' confidence is missing?
8) agreed
9) where did India have "regulatory failure" in financial sector?
10) agreed
11) to address the borrowing rate issue, a floating rate linkage was mandated- what else you suggest? Anyway, that's a RBI mandate, FinMin can't directly intervene in borrowing rate decisions
12)ease of doing business is a bigger thing that needs intervention from multiple departments and the whole of the federal structure- central, state and local body. What is your ask from the FinMin in particular?
13) powerful manjhe? Jayakant Shikre type powerful?
14) public sector banking you covered above already
15) ALGOs are already regulated to a certain extent. What more changes you want? And what do other major stock exchanges practice in order to safeguard retail investors' interests from Algo?
16)IRDAI*- what reforms you want?
17) RBI had opened special liquidity window for NBFCs and SCBs(with co lending model) to ensure sector specific lending that included real estate. What else needs to be done?
18) agreed. More than issue resolution they should avoid changing formats every second month, the whole accounting software needs change and that's a pain for small businesses
Ya'll Nibbiars

1 . The current policies are passive not active will need a post to explain in details.

2 . The fuel charge can't be excessive in short trem it will be beneficial but in long term bad.

3 . And there are many ways to increase the Rail funding than just diverting. A public corporation on the scale of the Power finance and not the current ones which were Ineffectives.

4 . The finance minister has a say in this but hardly used their powers here.

5 . The fast track of the public sector disinvestments.

6 . The SEBI is passive not active and I have given many examples of its fault last years refer to my previous posts.

7 . We had many laspese in past but not taken notes properly.

8 . Well it comes under the RBI and need to manage it more properly will write about it in details.

9 . The Finanace ministry can give suggestions or patterns to help alteast in the financial senses.

10 . The sebi current leadership is nothing but lackluster. I had critiqued them many times for half hearted actions.

11 . The current rules don't cover them properly this is just half hearted step by the sebi.

12 . The current ones are from from perfect needs more intense ones.
 
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Haldilal

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Nibbiar who can replace tai?
Who is better economist
Ya'll Nibbiars dudne ka nahi ho skata. Well can find better candidates for the finance minister will make a list when gets time. And when compared to the Tai there are many candidates available both in the minister and beauracartic ones.
 

Haldilal

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Ya'll Nibbiars The SEBI is least is concerned about the retail investors and nothing has changed in the past 20 years.
 

Haldilal

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Ya'll Nibbiars needs to watch on the RBL Bank saga the Christmas bombshell from the RBI was to suspicious to ignores. They are cooking something ups.
 

thebakofbakchod

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You do realize you will look like an idiot if you don't backup your statements with facts and analysis?
What facts and analysis are you looking for?

- Gross fixed capital formation (% of GDP) peaked in 2007/08. In the last few years it has stagnated (slightly decreased) at ~28%, compared to Modi govt's aim of 36% by 2022.


- Mechandise exports were $300 billion in 2014, and will touch $400 billion this fiscal. Overall growth has been terrible across the 7 years. Exports have finally shown actual growth this year to record levels, so hope this continues


- Our industrial growth indicators have been horrific in the last few years. The common excuse is that the indicators have been broken. Well, why havent they been fixed then?


- Labour participation rate has decreased in the last 10 years, from 50-52 in 2014 to 47 now. It used to be 57 in 2010 so the decrease has been going on for a long time.


- Unemployment figures are terrible. People keep making excuses claiming CMIE is a commie organisation, NSSO is not accurate etc. Then wtf is stopping the government from releasing detailed quarterly job statistics like most other countries? No wonder things in this country are so lethargic when the central government themselves have no idea wtf is the state of the economy and remains in denial.


The infra push, PLI scheme and GST are only good things on the economy front in the last few years
 

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