Indian Economy: News and Discussion

[Cheepek]

 

[Haldilal]

This is supposed to be on the konkan coast - massive enviromullahs derailing it.

Ya'll Nibbiars Geology survey completed, villagers have wrote open letter to the CM to purchase their lands, and the HC has given restrictions ordered on the AndaloonJeevis.

 

[nongaddarliberal]

Sino-Soviet split was in 1960, at the time, these pro-soviet leaders were quiet. But when they realised that Mao's plan was to re-build the relationship with West, they started to make noise.
Jul, 1971, Kissinger visited China. The field marshal Lin had a famous words to Zhou:" If you dare to get Nixon in China, I will get Brezhnev visiting Beijing."
2 months later (Sep-1971） he died in the journey fleeing to Soviet.



"Whether it is Chinese or foreign private capital, China should be given full development opportunities after the war, because China needs to develop industry." In terms of commercial relations between China and the world, we must conduct free and equal trade with all countries. policy to replace Japan's policy of reducing China to a colony; domestically, the policies already implemented in the liberated areas to promote the development of people's productivity, increase purchasing power, and create prerequisites for the stable development of modern industry as soon as possible should replace the Kuomintang government's reduction of people's living standards and thus Policies that hinder domestic industrial development. We agree with Mr. Sun Yat-sen's idea of three ways to realize China's industrialization: key industries that can control people's livelihood, such as railways and mines, are best developed and operated by the state; other industries can be developed by private capital; for development and utilization The huge potential of handicrafts and small rural factories must rely on strong democratically managed cooperatives

《Collected works of Mao Zedong》
Volume 3, page 186

This was the speech Mao made around 1945.
Looks familiar? Yes, that is exactly what CCP did from 1978.

When he knew the basic realities of economics and industry, why did he implement the "great leap forward" which ended up causing a famine?

 

[Eagle Eye]

Union Minister Gadkri proposes 10% additional GST on diseal vehicle as "pollution tax".

Already 28% gst and additional cess on it depending on vehicle type.

 

[nongaddarliberal]

Union Minister Gadkri proposes 10% additional GST on diseal vehicle as "pollution tax".

Already 28% gst and additional cess on it depending on vehicle type.

EV's in their current form are not the future. We need completely different battery technology that has much longer life and energy density, and which doesn't rely on the current process of lithium extraction which does far more harm to the environment than diesel cars.

Rather than trying to go for an electric transition, India should fix its energy reliance problem by diversifying its energy sources, like through Nigeria and Venezuela, and get it directly in rupees. That fixes the significant forex problem and takes away the arab monopoly on our energy.

Alongside this, the push should be for green hydrogen which has already picked up pace.

We will regret this EV mania 10 years down the line.

 

[Azaad]

Wel, CCP confessed Mao "made huge mistakes, and brought disasters to the nation and people" in 1978.

Wondering how India ever made any conclusion on ur 1947 to 1991, blaming some leaders, or blaming systematic incapabilities?

We were discussing the situation of Sino Soviet ties when Mao was alive .

How long have you been here ? Have you ever gone thru threads on the economy , politics , society , cultural & religious threads including those on the media in here forget what it is out there or were you busy spreading MSS propaganda throughout your stay here ?

 

[Butter Chicken]

Saudi Arabia To Establish A New Office in GIFT City

Saudi Arabia To Establish A New Office in GIFT City

Saudi Arabia is preparing to establish an office within India's Gujarat International Finance Tec-City (GIFT City), as announced by Saudi's Investment Minister, Khalid bin Abdulaziz Al-Falih.

aviationa2z.com

 

[Eagle Eye]

Gadkri denied media reports that there's proposal under Govt consideration to hike 10% GST on Diseal vehicle.

 

[Azaad]

 

[Cheepek]

Very good article


May the twain meet: Look East as much as West for Indian exports

May the twain meet: Look East as much as West for Indian exports

India’s West-oriented export thrust is welcome but it would be pragmatic not to lose focus on the booming Asia Pacific region

www.livemint.com

 

[Hari Sud]

Bharatvaasis must understand how China got started with economic reforms. It all started with Deng Xiaoping’ s visit to Singapore and meeting Lee Kuan Yew, their remarkable leader. He drew his inspiration from Singapore and not Soviet Union, which our foolish leaders tried to copy economically. The idea for SEZs all over China’s souther coast as early as 1978 came from that visit. If Indira Ganduji had visited Singapore or just copied Singapore’s SEZ policies for southern India, the chances are that we would have been a similar development position to China. But she was busy imposing emergency and trying to come back to power and we lost the entire decade of 70s and 80s while Deng was busy reforming China’s economy greatly.
Between Nehru and Indira Gandhi, 30 years of bad policies, poor leadership, inability to reform like Deng and Lee did with a lot of focus is why India is perennially behind the economic race.
Now Modi wants to be the Deng Xiaoping or Lee Kuan Yew of India but unfortunately the manufacturing sector is not picking up due to slowdown in western consumption and other countries like Vietnam, Thailand, Malaysia having built much better manufacturing infra. Now we are doing PLI, arm twisting quoting the size of the Indian market etc. If only we had a Lee Kuan Yew or Deng like PM early on, we would be in a very different state.
‘Here I have to admire Deng Xiaoping for copying the Singapore model and not fall for the Soviet model of economic development, which was mostly fake.

‘China was built as a counter to Soviet Union to back stab them at US behest. All other models this and that are alternative view points. The funny part is when Chinese got $2 trillion FDI they are saying good bye to US and are again friends-friends with Russia.

 

[Sanglamorre]

In China, the party owns everything, especially the citizens. If it doesn't own something, it's a tank march away from being always have had been owned by the party.

The only people shocked by this are the Chinese.

 

[no smoking]

China‘s rise was primarily attributed to formation of SEZs on the east coast with port led export manufacturing model - aka Singapore model. The other things are you have said are secondary not the primary cause.

Completely wrong!
In 1980s, the concept of export lead manufacturing didn't exist in any Chinese leaders' head at all! It was laughable to think that Chinese factories could export any manufacturing product with a sound profit at the time.
Let me give you some facts about Chinese production efficiency in 1980s:
1. Chinese workers had been working under the extreme communism style economy too long: the idea of rewarding hard workers with bonus was unacceptable to most of them!
2. The managers had also been working under the plan economy too long: they had no clue of basic procurement and sales!
3. The Chinese scientists and engineers were still struggling to absorb the technologies provided by Soviet in 1950s.
4. There were still quite a lot factories were using the foreign equipment produced before 1945!
So, basically, China was exporting at loss in 1980s.
The purpose of setting up SEZ was not to export but teaching Chinese how to run a modern profitable factory.
Unlike Singapore whose SEZ was to attract western investors, the Chinese SEZ was to attract those Chinese in Asia. That was why these SEZ sitting in the 2 provinces (Guangdong, Fujin) where most of overseas Chinese came from.
If China really wanted to copy Singapore SEZ model, she should have chosen Shanghai and Tinjin, or even Ningbo.
Besides, SEZ model was not something Singapore invented, the first modern SEZ was set up by Ireland in 1950s.

 

[no smoking]

There is no change in land ownership. It is all still owned by CCP on longer leases. in China, you don’t own anything, not your bank account and not even your organs. Everyone knows this. There needs to be no debate even on this as we all 100% know this.

You all 100% know this doesn't mean it is true.
If Chinese doesn't own the land, then how they can protest and force the developer to increase the compensation?

"It is all still owned by CCP on longer leases"

Yes, you don't own the land. However, whatever you have on this land belongs to you. For example, you build a house on this land. When your lease expires, you can renew your lease (75 years again) with little money. If the government decides not to renew the lease, they need to pay the value of your house (generally higher than the market value). Certainly, if you decide not to accept but to fight, you may end up like this:

So, what does that mean? Yes, you have the ownership of the land.

 

[Psacha1234]

What a tight slap to Rajdeep!
Factually busts the myth of inequality, crony capitalism now and higher gdp growth during UPA era. Must watch.

 

[Tejbrahmastra]

https://x.com/IndianTechGuide/status/1701799095994576964?s=20

Navic is a welcome addition!!

 

[SKC]

Gadkri denied media reports that there's proposal under Govt consideration to hike 10% GST on Diseal vehicle.

He was trying to emply that People should start moving towards the Green Alliance products like Biodiesel, CNG, Ethanol blended petrol and Hybrid vehicles and why can't the Automotive Manufacturers move towards these instead of continuing with Diesels.

He then jokingly said if people and Industry don't move towards these greener options then he will increase the tax by 10% on diesels.

As usual our media and the hyper analytic guys jumped the gun.

 

[Tejbrahmastra]

https://www.isas.nus.edu.sg/wp-content/uploads/2021/08/South-Asia-Scan-Aug-2021-V4.pdf

The project India-ME-Europe though by a Spanish researcher!! Great Read!!

 

[ezsasa]

This is HUGE! RBI says banks and NBFCs have to release documents of properties and collateral mandatorily within 30 days!
* Have to remove encumberance within 30 days, and return docs
* Docs can be returned from any branch, not just home branch of customer
* Loan docs must mention where the borrower can get them back once he repays
* If the bank/NBFC doesn't return docs or release the encumberance charge within 30 days - they pay 5000 rs. per day of delay
* If bank/NBFC loses the docs - they will pay and assist owner in getting docs back or attested copies (but they get another 30 days i.e 60 days before the 5K per day penalty, only if they lose the docs)
* If the loan taker dies, Banks/NBFCs need to have a detailed procedure on how heirs can get original docs.

Applies for even past loans where full repayment happens after December 1, 2023.

This is awesome for homeowners who borrow, but also for collateral based lending like for cars, securities and all the other stuff. And applies to NBFCs also, so housing finance companies can't escape.

 

[Hari Sud]

What a tight slap to Rajdeep!
Factually busts the myth of inequality, crony capitalism now and higher gdp growth during UPA era. Must watch.

A well deserved tight slap to Rajdeep Sardesai. He richly deserves it. He is using Rahul Gandhi’s language, who in fact has disappeared.