Indian Economy: News and Discussion

Kumata

Senior Member
Joined
Feb 27, 2019
Messages
8,893
Likes
34,476
Country flag
RBI's official stand is that they are not against rupee finding it's true value, but they would like to reduce the volatility in fluctuations..
I don't see their utterings matching their actions per se though :)

It's like seeing that i don't want to get in bed as it's illegal but if some body pays me well, I don't mind either..
 

sauntheninja

Senior Member
Joined
Dec 16, 2020
Messages
1,903
Likes
5,259
Country flag
This could have been done regularly without subjecting hundreds of millions of Indians to stand in quese with that retarded strike on currency. Doing the demonetisation over the period of month or so like how previous governments introduced new currency would have had the same effect. So another BS argument

:laugh: this would be laughable if it wasnt so tragic. The crores of "formal jobs" came at the cost of several crores of "informal jobs". So many small firms and their informal jobs went away from this brilliant master stroke and economic genius of Modi.

And whats this fetish with formalisation? So that Modi and his cronies can tax and suck the citizens more so that they can fund their pathetic welfare state for votes?


Only in a country called India, an increase in tax by the govt can be propagnadised by its ass lickers as an achievement of the government. In most countries with sanity left, no govt will advertise how it is sucking more as taxes from its citizens. They only use excuses to do that. But not Modi/bjp/bjp boot lickers. They think its a proud achivement that Modi is looting more from the hindu middle class that voted for him. The amount of contempt BJP has for its voter base is unreal
Msme companies are inefficient and we want to grow world class companies that can compete on the global scale that is why china is successful. Formalisation helps the government successfully track data about the companies and helps give employee benefit like health insurance paid leave for example non formal jobs just exploit cheap labor
 

Kumata

Senior Member
Joined
Feb 27, 2019
Messages
8,893
Likes
34,476
Country flag
Msme companies are inefficient and we want to grow world class companies that can compete on the global scale that is why china is successful. Formalisation helps the government successfully track data about the companies and helps give employee benefit like health insurance paid leave for example non formal jobs just exploit cheap labor
you are sugar quoting IMO . Govt is not even counting employees IMO.. Only time they need them is when they want votes or TDS Else you are paying for every bloody thing 3 or 4 times...

Need of the hour is to control corruption..A Known mid rung employee working in IT deptt owns 20 houses in Delhi .. all rented out when his salary is hardly enough ...All he have is power to "fix" people's 26 AS and help them get refund. Flat 10% of refund amount is the rate.

A friend own a Small Facilities business He ended up doing the interiors of local PF commissioner new flat for free in gurgaon + 1 lakh in cash...this when his books were clean but babu won,t certify the EPFO audit ...citing some obscure judgement from milords

On last day, Officer ensured that all his chats / demands send via whatsup were deleted ..and he himself cleaned my friends phone...

And than u have a FM whose claim to fame is " she do not eats Onion" so not bothered & only time seen is when it's to increase some random tax... She is perfect flame for baba IMO... always available for vasooli..
 

Rxbanda

Regular Member
Joined
Apr 23, 2020
Messages
932
Likes
5,279
Country flag
Sometime back the Supreme Court said that the recommendations of GST council are not binding on the states.
Any update on how this effected the implementation of GST? I read reports back then that states can now reject GST, which can bring back old things like long queues of trucks, for example. Are such things happening?
Any update on this please?

@ezsasa @Crazywithmath @Haldilal
 

FalconSlayers

धर्मो रक्षति रक्षितः
Senior Member
Joined
Oct 14, 2020
Messages
27,429
Likes
189,318
Country flag

indiatester

Senior Member
Joined
Jul 4, 2013
Messages
5,846
Likes
20,242
Country flag
Unless the govt screws up with anothe GST/Demonetisation brilliance, the economy will reach there. Only question is how fast.

If India was allowed its full potential, with deregulation, labour reforms, land reforms, reduction of red tape, we would be growing at 12% or more p.a considering the very low base we grow from... But I have 0 faith in the current govt, specially when a stupid and arrogant lady like nimmi aunty is FM
Everything bad due to Covid, War and all are due to incompetence of the current govt.
Good progress is because everyone is inherently capable.
Yep, I get it.
 

IndianHawk

Senior Member
Joined
Sep 24, 2016
Messages
9,058
Likes
37,672
Country flag
These are the times of turbulence. Lots of things are changing. From pandemic to war and fundamental breakdown of global order.

Europe is going down the drain recession is already evident. Gas price is through the roof and energy rationing is here to stay . Ukraine is a sinkhole for European money.

China is now reaping its COVID harvest with perpetual lockdown and very slow growth . (0.4% in last quarter). Almost recession. There is also huge mortgage collapse in Chinese real estate.

our own neighbourhood collapsing . Sri Lanka gone , Nepal hanging onto india for dear life. Pork was always a basket case now more than ever.

USA is reaping its money printing with record inflation and now looking at massive asset bubble about to burst and a long deep recession following. So much for destroying russia.

paper money is loosing value . Real commodities , food , fuel are reclaiming there true worth. Labour is getting costly.

Return on capital is not same anymore.

In this context india is doing brilliantly. Security real commodities with Russia while consolidating at home with more manufacturing.

Numbers will fluctuate for next few years but numbers have no value anymore.

People in usa can't afford food despite working two jobs and earning 50-60000 USD per annum. While Europeans are dying in heatwave. And have no gas for coming winter.

Srilankan are still ahead us in happiness index.

The fake world is collapsing so is fake prosperity. Only the truth shall remain.
 

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,905
Likes
147,985
Country flag
Sometime back the Supreme Court said that the recommendations of GST council are not binding on the states.
Any update on how this effected the implementation of GST? I read reports back then that states can now reject GST, which can bring back old things like long queues of trucks, for example. Are such things happening?
Any update on this please?

@ezsasa @Crazywithmath @Haldilal
chandrachud was part of that SC bench.

he was stating the obvious, even today GST council has no binding impact on tax rates, council can only recommend.
 

Kumata

Senior Member
Joined
Feb 27, 2019
Messages
8,893
Likes
34,476
Country flag
he was stating the obvious, even today GST council has no binding impact on tax rates, council can only recommend.
Right but key is that govt still toe the councils line and change slabs accordingly. TBH , I don,t see how GST is diff from earlier regime...Infact it's more inflation stoking...LOL
 

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,905
Likes
147,985
Country flag
Right but key is that govt still toe the councils line and change slabs accordingly. TBH , I don,t see how GST is diff from earlier regime...Infact it's more inflation stoking...LOL
difference is in the structure of decision making. a decade ago a gujarat CM/FM wouldn't get appointment to meet planning commission chairman or central finance minister but a congress CM/FM would.

now all of them sit together at the same time, and try to arrive at consensus. no preferential treatment.
 

Kumata

Senior Member
Joined
Feb 27, 2019
Messages
8,893
Likes
34,476
Country flag
difference is in the structure of decision making. a decade ago a gujarat CM/FM wouldn't get appointment to meet planning commission chairman or central finance minister but a congress CM/FM would.

now all of them sit together at the same time, and try to arrive at consensus. no preferential treatment.
Common , there was no GST than or such council or u r implying that Only khangress CM's were invited to planning commisions chai biscoot meetings and BJP one's were not even invited....

Point of discussion was Milord decision that GST Council utterings are not binding ... Does this mean that Khangress states can go back to pre GST era ... I mean are milords trying to divide...
 

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,905
Likes
147,985
Country flag
Common , there was no GST than or such council or u r implying that Only khangress CM's were invited to planning commisions chai biscoot meetings and BJP one's were not even invited....

Point of discussion was Milord decision that GST Council utterings are not binding ... Does this mean that Khangress states can go back to pre GST era ... I mean are milords trying to divide...
things are pretty straight forward, there is nothing i can say that can convince you otherwise.
we already had this conversation last month on GST council. since i don't like to repeat the same point again and again, i try to add to a different perspective, do read my posts in conjunction with my old posts on the topic.

as far as planning commsion and gujarat CM relationship is concerned.
Modi accuses Centre of disregarding federal structure

 

Crazywithmath

Senior Member
Joined
Mar 3, 2021
Messages
2,346
Likes
14,265
Country flag
Sometime back the Supreme Court said that the recommendations of GST council are not binding on the states.
Any update on how this effected the implementation of GST? I read reports back then that states can now reject GST, which can bring back old things like long queues of trucks, for example. Are such things happening?
Any update on this please?

@ezsasa @Crazywithmath @Haldilal
States could always 'reject' GST; that is exactly why meetings are convened by the GST council, i.e. , to work on objections raised by the states. A state can still reject a proposal; even after reaching a consensus. Although, such provisions have not been taken advantage of till date.
 

Shuturmurg

Senior Member
Joined
Jan 9, 2022
Messages
2,995
Likes
21,337
Country flag
Pratt and whitney setting up engineering center in Bengaluru, 1st in Asia :

 

Shuturmurg

Senior Member
Joined
Jan 9, 2022
Messages
2,995
Likes
21,337
Country flag
Noob here but what will be it's function I mean what will be done here
Not sure, i checked what they do in poland and here is what i got :


Apparently they already have tie up with IISC and doing some R&D with them.
 

tribendra bisoi..

Regular Member
Joined
Jul 6, 2022
Messages
521
Likes
3,072
Country flag

ezsasa

Designated Cynic
Mod
Joined
Jul 12, 2014
Messages
31,905
Likes
147,985
Country flag
Story of agarbati .

These are the kind of topics which have high educational value which can explain entire supply chain of an industry, and these stories deserve videos to be made like the ones business insider makes.

sad part is that even in 2022, there is no one in India who is investing in making educational videos about our own industries except GoI. these sort of things will have impact in terms of opportunity. costs.

Why Jasmine Oil Is So Expensive | So Expensive | Business Insider

How Sacred Flowers Are Turned Into Incense Sticks | World Wide Waste
 

Kumata

Senior Member
Joined
Feb 27, 2019
Messages
8,893
Likes
34,476
Country flag
Modi accuses Centre of disregarding federal structure

Is not NON BJP CM.s also accusing him of same thing now... Mamta, Kejuddin Et all ....
 

Latest Replies

Global Defence

New threads

Articles

Top