Indian Economy: News and Discussion

[dfcool]

sad part is there are many Woke Unicorns with same perspective

 

[Haldilal]

Ya'll Nibbiars The Two options for lunch and Bikanerwala gives:

1 . Better taste.

2 . Better quantity.

3 . Better Value for money.

Than The so called famous Pizza chain.

 

[NotASussyBoi]

Ya'll Nibbiars The Two options for lunch and Bikanerwala gives:

1 . Better taste.

2 . Better quantity.

3 . Better Value for money.

Than The so called famous Pizza chain.

View attachment 183664

put this in the ne capitals abd its food will sell like hot cakes

 

[Abbey]

 

[here2where]

Layoffs: Labour Ministry Summons Amazon India Over Sacking Of Employees - News18

IT employees union NITES earlier requested the government to conduct an inquiry regarding the "unethical and illegal layoffs" email by Amazon

www.news18.com

would love to hear your thoughts on this @here2where

moral of the story.. dont do business in india?

correct. don't do business in india. IF there indeed is a stupid indian law that says private sector employees cannot be terminated without "..... prior permission from the appropriate government."

 

[Abdus Salem killed]

No ummah chummah ?
Khan2727 will commit suicide

 

[Jambudweepa]

sad part is there are many Woke Unicorns with same perspective

Something to learn on how USA managed to rally their wokes in ukraine war . Now i see them asking for russian blood in social media . Even the nazi flag , videos torture of Russian minorities does nt have the impact .

 

[Butter Chicken]

Indian Stratup Ultraviolet Launched It's Motorcycle F77 today. This Startup is Backed by TVS.

 

[Gyyan]

sad part is there are many Woke Unicorns with same perspective

Wtf.
let's burn all mama earth outlets then.
We will be setting stage for mama earth's product to be fire proof then.

 

[Haldilal]

Ya'll Nibbiars The Rapid growth and progress of upcoming IT, Tech Business Parks in Kolkata. In pictures :

1 . ITC Infotech.

2 . Imagine Tech Park.

3 . STPI New Campus.

The Upcoming - Emami Business Bay & Merlin, The Summit.

 

[GigaChadBharatiya]

Ya'll Nibbiars who done this?.

Sorry for the typo, was hasty in reaction

 

[RoaringTigerHiddenDragon]

Your argument isn't valid. India is a consumer driven economy & the episodes of boom & burst in economic growth is a natural characteristic of our economy.

(Data is taken from an RBI report)

If we want a sustained growth rate, we have to have a transition from a consumer driven model towards an investment driven model like that of East Asia.

And sectors like Infrastructure, real estate & manufacturing are a key towards that transition. Considering most of the incentives in manufacturing were offered only by 2021 & are active from 2022. It will take atleast 4-5 years to see their benefits. Till then we are in the mercy of the market force.

But in my opinion, the transition would not be complete with out incentivising the purchase of physical assets.

Demonstration has it's own merit. There was an increase in the number of tax returns filed from 3.8 cr to 6.86 cr. Which is huge.

Demonetisation and its impact on Tax collection and Formalisation of the Economy - Arun Jaitley

There are large structural reforms - land, labor, agriculture, power sector, urban development - still pending. BJP is unable to do these. These 5 things affect the economy massively. We cannot have sustained 8-10% growth without reforms in these areas. Less than 10% of Chinese are involved in agriculture whereas 50% of Indians are in agriculture. Electricity boards of several states are bankrupt due to freebies culture and power theft. Not enough municipal revenues are collected for urban infrastructure. Land and labor are permanently screwed up with confusing laws, bad documents, crores of litigation etc. The CCP reformed these areas to get to the 8%+ growth for a long time. Without reforms, you are only going to get moderate growth, like we are doing now.

 

[Abdus Salem killed]

There are large structural reforms - land, labor, agriculture, power sector, urban development - still pending. BJP is unable to do these. These 5 things affect the economy massively. We cannot have sustained 8-10% growth without reforms in these areas. Less than 10% of Chinese are involved in agriculture whereas 50% of Indians are in agriculture. Electricity boards of several states are bankrupt due to freebies culture and power theft. Not enough municipal revenues are collected for urban infrastructure. Land and labor are permanently screwed up with confusing laws, bad documents, crores of litigation etc. The CCP reformed these areas to get to the 8%+ growth for a long time. Without reforms, you are only going to get moderate growth, like we are doing now.

How to do those though so you have any idea which sectors need reforms?

 

[Rudra72930]

There are large structural reforms - land, labor, agriculture, power sector, urban development - still pending. BJP is unable to do these. These 5 things affect the economy massively. We cannot have sustained 8-10% growth without reforms in these areas. Less than 10% of Chinese are involved in agriculture whereas 50% of Indians are in agriculture. Electricity boards of several states are bankrupt due to freebies culture and power theft. Not enough municipal revenues are collected for urban infrastructure. Land and labor are permanently screwed up with confusing laws, bad documents, crores of litigation etc. The CCP reformed these areas to get to the 8%+ growth for a long time. Without reforms, you are only going to get moderate growth, like we are doing now.

Out of the 5 problems you mentioned the government tried to address 3 of them Land, Agriculture & Labour. The first two were withdrawn after severe backlash & the 3rd is left hanging, anticipating a backlash.

But the government is partially trying to address the issue to some extent. Like...

• The Industrial land Bank policy which aims to provide a plug & play model, to reduce the timefame from approval to setting up of factories. (it's already providing results in some states)
• The only way to divert the agriculture based population to industries is by promoting manufacturing. Which I believe is happening steadily.
  
• Also one thing to note here is that the main problemic part is the farm labourers who have much lower income & not the farmers.
• Labour Code has already been promised, I believe we wouldn't be having it before 2024.

As a democracy we have to live with some constrains. Considering the fact we have a sizable poor population, freebies will always be a thing.

But I believe there are some ways that we can achieve a highers GDP growth rate -

• Real estate & infrastructure sector - incentives property purchases for general public.
• PLIs specifically targeted towards MSMEs
• Higher investment in R&D. To move up the value chain.
• Keep the Dollar exchange rate steady. Because we are already growth in double digit number in Rupee terms.

Most other policies in my bucket list are already approved by the GoI & only proper execution is needed to see the results.

 

[Varzone]

There are large structural reforms - land, labor, agriculture, power sector, urban development - still pending. BJP is unable to do these. These 5 things affect the economy massively. We cannot have sustained 8-10% growth without reforms in these areas. Less than 10% of Chinese are involved in agriculture whereas 50% of Indians are in agriculture. Electricity boards of several states are bankrupt due to freebies culture and power theft. Not enough municipal revenues are collected for urban infrastructure. Land and labor are permanently screwed up with confusing laws, bad documents, crores of litigation etc. The CCP reformed these areas to get to the 8%+ growth for a long time. Without reforms, you are only going to get moderate growth, like we are doing now.

Indian public itself is the biggest obstacle and the chimps in office can't do shit despite majority.

 

[Haldilal]

Ya'll Nibbiars

 

[Abbey]

Odisha: New Port Policy Unveiled To Attract Private Investment In Maritime Sector

swarajyamag.com

With an aim to facilitate private investment in maritime sector, the Odisha State Cabinet led by Naveen Patnaik approved a new port policy last week.
The state government had formulated a Port Policy during the year 2004 for private participation in the development of ports.
The move to replace the 2004 policy was necessitated as the existing policy had become outdated.
The approval comes a week before the state is set to host its flagship biennial investment summit, Make in Odisha conclave.
The move to bring a new policy for integrated development of non-major ports and inland waterways is a major step as Odisha was among a few coastal states which opposed the draft Indian Ports Bill 2022.
The draft released in August 2022 has stoked fear among the coastal states that the new legislation may dilute powers already vested with the states on the management of non-major ports.
Opportunities In Abundance
Odisha situated on the shore of the Bay of Bengal has a vast coastline of 480 kilometres.
The state has 14 notified non-major ports, out of which the ports at Dhamra and Gopalpur are already functioning, while the ports at Astaranga and Subarnarekha Mouth (Kirtania) are currently under construction.
These apart, the state government has issued notification for establishment of 12 non-major ports in the state with private participation.
Four of the proposed locations are in Balasore, two each in Ganjam, Bhadrak and Puri districts and one each in Jagatsinghpur and Kendrapara districts.
Apart from this, process is on for selection of developer for setting up a riverine port on Mahanadi River in Kendrapara district.
Key Features
The approval comes close on the heels of the constitution of the Odisha Maritime Board (OMB) on 23 August which has been tasked with coordinating the activities of non-major ports in the state.
According to the policy, the OMB will prepare an Odisha maritime perspective plan encompassing the key strengths and challenges in maritime development.
The plan will also study the maritime ecosystem involving ports, hinterland potential, cargo evacuation, port connectivity, environmental enhancement and development of the coastal communities.
This policy seeks to aid and promote development of ports and port-led industrial development through improved port linking infrastructure.
The aim is to facilitate the promotion of private sector investment into the maritime economy of the state and provide employment opportunities to the youth of Odisha.
The OMB would invite international competitive bidding or sign a memorandum of understanding to attract private investors in the maritime development of the state.
The policy also promotes other maritime ventures like coastal shipping, promotion of marine tourism, development of multipurpose harbours, introduction of sea-plane connectivity.
A major feature of the proposed policy deals with creation of infrastructure for shipbuilding, ship breaking and related activities in the state.
Improving Logistics
The policy also proposes to formulate the Odisha Ports Capacity Augmentation Plan (OPCAP).
The plan will help identify and improve the cargo handling capacities of the different ports in the state.
The policy also aims to create an ecosystem to improve the supply chain efficiency and augment the generation of cargo.
This will be achieved by creating land banks around the ports for setting-up logistics infrastructure such as free trade and warehousing zone, storage facilities, inland container depot and port and jetty infrastructure.
A dedicated logistics cell will be established to augment the logistics infrastructure in the state.

 

[Abbey]

LNG storage planned at major ports at ₹20,000 crore investment

The government's move to set up LNG storage facilities is also in line with India's increasing domestic natural gas requirement. The Indian Railways recently allowed the transport of the LNG on its network to enable reliable supplies to consumers in hinterland regions.

economictimes.indiatimes.com

India is preparing a roadmap for setting up floating storage facilities for liquefied natural gas (LNG) at all its major ports, a senior government official aware of the matter said.

"A plan is in the works ... It would be finalised by the fiscal year-end," the official told ET. The project is estimated to cost ₹20,000 crore in total and will be open for private sector participation, the official said.

India has 12 major ports, of which Cochin (Kerala) and Kandla (Gujarat) already have accessible LNG storage facilities. The proposed LNG terminals will provide refuelling facilities for ships, as well as help serve India's increasing demand for the gas from the industry and for city-gas distribution.

Green Fuel for Ships
"LNG is soon going to be the preferred fuel for powering ships. The cryogenic storages being planned will receive and store natural gas in the liquid form and then refuel ships that come to the ports," the official said.




LNG, which is less polluting than marine oils, is increasingly being looked at as the transition fuel to power ships amid the industry's direction globally towards green shipping. In April 2018, the International Maritime Organization (IMO) adopted an initial strategy on the reduction of greenhouse gas emissions from ships, with a vision to phase them out "as soon as possible in this century" by shifting to fully electric ships.

Local Supply

The government's move to set up LNG storage facilities is also in line with India's increasing domestic natural gas requirement. The Indian Railways recently allowed the transport of the LNG on its network to enable reliable supplies to consumers in hinterland regions.

According to the Petroleum Planning and Analysis Cell, roughly half of India's total natural gas consumption is met with imported LNG. The fertiliser sector, chief consumer of gas, meets around 70% of its requirement through imports.

"The decision to set up LNG storage infrastructure will lower the end price for gas consumers and help replace fuels (petrol, diesel, petroleum coke, fuel oil) that are refined from crude oil," said Sumit Pokharna, analyst, Kotak Securities. "It will also lower the subsidy burden of the Centre while supporting proliferation of city-gas distribution hubs."

 

[Abbey]

Govt looking to sell 5%-10% in Coal India, Hindustan Zinc, RCF: Report

The government is looking to sell a tranche of its stake via the offer-for-sale (OFS) mechanism.

www.moneycontrol.com

Moneycontrol reported in May this year that the Union Cabinet has approved sale of government's entire stake in Hindustan Zinc Limited.

Hindustan Zinc was a majority government-owned company. The government had earlier offloaded 26 percent stake in the firm in 2002, which was bought by Anil Agarwal-led Vedanta Group. The mining giant later acquired a further stake in the company to take its holding to 64.92 per cent.

Meanwhile, to be in-line with its divestment plans, the government is planning to bring four important offers for sale - Coal India, NTPC, Hindustan Zinc and RITES - over the next four, CNBC-TV18 reported earlier this month.

According to other media reports, the government is also planning to sell 10-20 percent of its stake in Rashtriya Chemicals Fertilizers (RCF) and National Fertilizers (NFL) this year.

The disinvestment target for the year 2023-24 may be set at around Rs 65,000 crore, Financial Express (FE) had reported. So far, it has risen more than Rs 24,000 crore as disinvestment receipts in the current fiscal, as per the information available on the Department of Investment and Public Asset Management (DIPAM) website.

 

[Suryavanshi]

How to do those though so you have any idea which sectors need reforms?

Look at where loss is being incurred, that needs to be reformed.