Indian Economy: News and Discussion

jai jaganath

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India also needs to manufacture in large scale low tech things like garments, shoes, furniture, toys, etc. We need to generate employment.

India has too large a pool of low skilled workers. Need to generate employment for them.
Exactly bro we need to conduct huge low end manufacturing revolution that's the only solution to raise standard of life for millions of people
+As suggested have to increase the skills of woman and enhance their participation
 

Apollyon

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Ya'll Nibbiars The 120mm Rain in Seoul in 12 hours. The Developed cities in the world are not equipped with flooding like Mumbai. And 250 MM rain in a few hours is a very common sight in Mumbai. Surprisingly, Mumbai haven't seen such heavy rain this year. The Mumbai takes that with ease for 2 days every month in Monsoon, 120mm in 12 hrs is drizzle for Mumbai.
When we look at first world cities drowning at 100 mm, we are lot better wirh our rain management. Mumbai should not be judged by Hindmata, Kings Circle and Milan Subway. And this year despite heavy rain Hindmata area did not see flooding the infra is improving finally.

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Comparing Seoul with Slumbay :facepalm::facepalm::facepalm::facepalm::facepalm::facepalm::facepalm::facepalm:

It was once in a century event in Seoul with highest of 140mm/hour rainfall for few hours.
 

OFBkaRakhwala

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The point is let's not get into .. oh look xyz country is as shit as us . Let's look at counties that have solved the problem
Are to Tokyo kaha se aagaya? Jake bille ko quote kar na mujhe kyu kar raha hai wo mumbai ko compare kar raha tha mai nhi
 

armortec

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Govt has already been looking at this for some time.
The problem of election cycles delaying reforms - 20 years of a benevolent dictactor like Lee Kuan Yew would be enough. Hope the labour reforms are implemented and work. Proof will be when we see manufacturing flowing into India and goods flowing out. Criminal to waste this massive potential labour force. Imo we should compare to Vietnam (what's their GDP/capita graph?) and yes, even Bangladesh first. Then can look further ahead.

Has any country ever become high/middle income without at least one generation of wave slavery? West had their industrial revolution and then exported their slavery (again). Japan, China, Korea, all had or still having their wave slave era. Here is an old vid of Japan - most their workforce didn't even have flushing toilets in their tiny flats.

 

Shuturmurg

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Interesting chat about India's economy by Ruchir Sharma :

1. Indias working age population growth has slown down and will stop by 2050-2052.
2. Considering point 1 and overall slower global growth due to aging and deglobalization to some extent, India's new normal growth for next 18 years will be only 5%.
3. This means India's GDP per capita nominal will take 18 years to double, so GDP per capita in 2040 should be around 4500$ . 😿 (looks like he assumes that their will be currency deprecation, which will negate growth due to inflation, which is fair, since India runs perpetual deficit).
4. He is predicting above based on normal trajectory of policy making. To get to 7% growth there has to be some radical policy changes that get more women in workforce, improve labor force participation, etc. But he is not counting on them since in India changes are hard to make.
 

Shuturmurg

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I do not get the idea of increasing women in work force.
On one hand there is not enough Jobs and on the other hand most of them ask us to bring women into workforce, wouldn't that just aggravate the problem of unemployment?
It means creating more jobs and using same number of people to get more economic output.
India's labor participation rate is just 47% because there are not enough jobs (among women its 21%). If we are able to create more jobs that get not only unemployed men but also women into employment then it will increase the GDP of our country.
 

angryIndian

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1. Indias working age population growth has slown down and will stop by 2050-2052.
2. Considering point 1 and overall slower global growth due to aging and deglobalization to some extent, India's new normal growth for next 18 years will be only 5%.
3. This means India's GDP per capita nominal will take 18 years to double, so GDP per capita in 2040 should be around 4500$ . 😿 (looks like he assumes that their will be currency deprecation, which will negate growth due to inflation, which is fair, since India runs perpetual deficit).
4. He is predicting above based on normal trajectory of policy making. To get to 7% growth there has to be some radical policy changes that get more women in workforce, improve labor force participation, etc. But he is not counting on them since in India changes are hard to make.
I hope his statement regarding Per capita income is a joke because If we manage a per capita income of just 4500$ by 2040, we would be counting ourselves amongst the likes of LDC countries like Senegal and Congo.
 

Shuturmurg

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I hope his statement regarding Per capita income is a joke because If we manage a per capita income of just 4500$ by 2040, we would be counting ourselves amongst the likes of LDC countries like Senegal and Congo.
It's nominal. Congo's current GDP per capita is 500$. No way they are going to be 4500 by 2040.
 

Haldilal

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Comparing Seoul with Slumbay :facepalm::facepalm::facepalm::facepalm::facepalm::facepalm::facepalm::facepalm:

It was once in a century event in Seoul with highest of 140mm/hour rainfall for few hours.
Ya'll Nibbiars Mumbai gets this kind of rainfall every week. Use your brains sometimes Firangj memesahab ke vidushak.

Is this some kind of cope ?. i noticed no one mentioned flood control in tokyo.
Let's not get into .. oh look xyz country is as shit as us . Let's look at counties that have solved the problem

Ya'll Nibbiars without even knowing the flood management system implemented in Mumbai and comparing other cities solution is not proper.

And refer to our older posts where even @ezsasa nibba agreed with me on the new flood management systems implemented in Mumbai and the how Navi Mumbai has one of the best flood management control system in the India and the world.
 
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ovalpiston

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I hope his statement regarding Per capita income is a joke because If we manage a per capita income of just 4500$ by 2040, we would be counting ourselves amongst the likes of LDC countries like Senegal and Congo.
It is Prannoy Roy and Ruchir Sharma on NDTV, it is their primary job to spread demoralizing propaganda, moroseness and despair about everything. In the early days of pandemic these worthies routinely wheeled in quacks to spread fear, throw random charts on how India will have 10 million deaths in 6 months etc. One needs a strong stomach and even stronger nerves to watch their kind of "news" channel on TV.
 

Shuturmurg

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It is Prannoy Roy and Ruchir Sharma on NDTV, it is their primary job to spread demoralizing propaganda, moroseness and despair about everything. In the early days of pandemic these worthies routinely wheeled in quacks to spread fear, throw random charts on how India will have 10 million deaths in 6 months etc. One needs a strong stomach and even stronger nerves to watch their kind of "news" channel on TV.
There is obvious political bias in NDTV, but Ruchir Sharma is usually pretty balanced.
 

Haldilal

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Ya'll Nibbiars And like this the Flooding will be history in mumbai one day.


Ya'll Nibbiars The existing.


Ya'll Nibbiars The hidden gem the pumping station which reduced the flooding by almost 75 percent in bhandups, Mumbai.


Ya'll Nibbiars the pumping station which are working for last 15 years.

 
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Roshan

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Interesting chat about India's economy by Ruchir Sharma :

1. Indias working age population growth has slown down and will stop by 2050-2052.
2. Considering point 1 and overall slower global growth due to aging and deglobalization to some extent, India's new normal growth for next 18 years will be only 5%.
3. This means India's GDP per capita nominal will take 18 years to double, so GDP per capita in 2040 should be around 4500$ . 😿 (looks like he assumes that their will be currency deprecation, which will negate growth due to inflation, which is fair, since India runs perpetual deficit).
4. He is predicting above based on normal trajectory of policy making. To get to 7% growth there has to be some radical policy changes that get more women in workforce, improve labor force participation, etc. But he is not counting on them since in India changes are hard to make.
1. Most of the developed - even parts of the developing - world's population has been declining for some time now. Not sure why he had to mention globalization as if gdp growth and globalization have a 1:1 correlation. Autarkic tendencies have not completely disappeared and keep rearing their head from time to time.
2. Inr has been depreciating for much of the NDA reign, didn't slow down GDP growth or massively affect how quickly we managed to multiply the economy.
3. This I can agree, in a Democracy like ours it is always a challenge to push through progressive reforms. land acquisition act, labour reforms and farmer laws were all attempts in This direction that were met with a lot of push back.
 

Shuturmurg

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1. Most of the developed - even parts of the developing - world's population has been declining for some time now. Not sure why he had to mention globalization as if gdp growth and globalization have a 1:1 correlation. Autarkic tendencies have not completely disappeared and keep rearing their head from time to time.
2. Inr has been depreciating for much of the NDA reign, didn't slow down GDP growth or massively affect how quickly we managed to multiply the economy.
3. This I can agree, in a Democracy like ours it is always a challenge to push through progressive reforms. land acquisition act, labour reforms and farmer laws were all attempts in This direction that were met with a lot of push back.
1. Wrong. Working age population have just started decreasing in developed world (other then Japan and Russia where its going for some time).
2. True but that was time of peak globalization and peak working age population in developed countries. He mentions in the interview that between 2000-2010 50 countries had over 5% GDP growth average. Between 2010-2020 only 10 countries.
 

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