Indian Economy: News and Discussion

FalconSlayers

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The retail sales have been tepid?
Don't know coz other info says otherwise at 8.6% in volume growth alone. Although its high, but not high enough.

 

RoaringTigerHiddenDragon

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The 'rich' are a minority outside urban clusters.

They have no say in the election outcome that is why Modi has to guarantee food security for 80 crore Indians for the next 5 years.

Cope and move on.
Unless we make the top 10 urban clusters directly governed as UTs, the rural ignorants are going to crash the India economic story. Non-taxing of agriculture has led to major issues. Rural India needs a strict lesson in how to vote properly. Cash-for-vote must completely stop. And people who accept cash for voting barred from voting in the future. People who vote without responsibility cannot be allowed to vote. This plus making the top 10 economic clusters UTs is very critical for India’s economic security. ButModi has hardly been able to do path breaking reforms. Most of his reforms are just incremental.
 

Crazywithmath

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GST figures for the month of Nov should be out tomorrow.

Lots of chatter that Diwali sales were tepid in the retail sector.

If we see a marginal 10-12% rise in GST YoY, that will be a cue of sorts for earnings in Q3.
Why so? By all accounts, indicators are showing the opposite? Even FMCG seems to be doing okayish...
 

NutCracker

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Cement production is ↗↗..

But look at what I stumbled upon while searching for some stats.
How can these Bhadwa-family based industrialists compete in export market like this.

 

another_armchair

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The retail sales have been tepid?
Why so? By all accounts, indicators are showing the opposite? Even FMCG seems to be doing okayish...
I should've been more specific.

Retail STORE sales were below expectations. Conversion was low & acquisition cost was high for offline retail in most parts bar some pockets. The folks I know called it a gloomy season in store sales. 'Gloomy' is open to interpretation.

Online sales of consumer durables otoh exceeded expectations. The buzz has moved online during festival sales.
 

angryIndian

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India Allots $142 Billion for Free Grains to 800 Million People
  • Beneficiaries to get 5 kilograms of free wheat or rice a month
  • The program will be extended for five years from January


This is the precise reason why India is destined to stay in perpetual state of poverty. Instead of giving fishing rod,the government is handing over the fish.
By doing this you are ensuring that the population will remain on state support for ever.

The amount,had it been invested in setting up factories in Bihar and other impoverished states,it would have resulted in serious reduction of poverty.
 

Blademaster

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India Allots $142 Billion for Free Grains to 800 Million People
  • Beneficiaries to get 5 kilograms of free wheat or rice a month
  • The program will be extended for five years from January


This is the precise reason why India is destined to stay in perpetual state of poverty. Instead of giving fishing rod,the government is handing over the fish.
By doing this you are ensuring that the population will remain on state support for ever.

The amount,had it been invested in setting up factories in Bihar and other impoverished states,it would have resulted in serious reduction of poverty.
AngryIndian, 800 millions of Indians live right on the edge of poverty. If too much go into poverty due to lack of food security, there will be widespread riots and anarchy. If you do not have food security, you will not have law and order. Without law and order there is no progress. You see what is happening in Pakistan. The same thing will happen in India if there is no food security. Besides making sure that 800 millions of India can afford to eat will keep inflation and food prices under control. Indian leaders are trying to get around the problem by encouraging Indians to move away from subsistence farming into sustainable labor practices such as manufacturing and higher value crops and drive down the poverty rate. Hopefully over time the number of 800 million Indians needing food assistance will go down.
 

Blademaster

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Go on and laugh FalconSlayers, but you have never seen what desperation can do to people once hunger sets in. They cannot think straight and can only think of food. Paying for food security is the cheaper option as compared to having your economic expansion plans ruined to widespread anarchy and riots.
 

another_armchair

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India Allots $142 Billion for Free Grains to 800 Million People
  • Beneficiaries to get 5 kilograms of free wheat or rice a month
  • The program will be extended for five years from January


This is the precise reason why India is destined to stay in perpetual state of poverty. Instead of giving fishing rod,the government is handing over the fish.
By doing this you are ensuring that the population will remain on state support for ever.

The amount,had it been invested in setting up factories in Bihar and other impoverished states,it would have resulted in serious reduction of poverty.
Indian's can be divided into three categories - 1) productive 2) less productive 3) absolutely useless

The less productive and absolutely useless one's far outnumber the productive ones who can generate some meaningful income for themselves, support others and help in nation building.

Till such time that category 2 & 3 learn and start using a fishing rod, it is cheaper to throw food at them and prevent them from going apeshit crazy and ruining all chances of 1 achieving their objectives.

Nehru and successive governments opened factories in Bihar, Bengal, Orissa. Large, absolutely promising PSU's but what good came out of it? Half the time there were hartals, workers would sign the attendance register once and walk out or refuse to sign at all. Maybe our politicians were ahead of their time then. Indian awaam was too jahil to be given imported machinery to work on.

OTOH the other state run institutions which employed more white collar employees did far better. Education, upbringing & the people one moves around with does make a difference for most.

Indian blue collar workers are lazy little fucks who would sit at the same spot all day long and day dream of becoming Ambani rather than work hard and earn a respectable living.
Perfect case are the auto driver unions who refuse rides, charge whatever comes to their mind and also prevent others from stepping in to fill the personal transportation vaccum.
 

Crazywithmath

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AngryIndian, 800 millions of Indians live right on the edge of poverty.
Not true. GoI is providing free ration for two reasons;
1. They already have surplus stock (that would otherwise rot in warehouses),
2. By spending less on food these rural folks can purchase meaningful products; in turn boosting rural demand (yes, we have a rural demand issue and I have made multiple posts on it advocating similar policies).
 

Tejbrahmastra

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India Allots $142 Billion for Free Grains to 800 Million People
  • Beneficiaries to get 5 kilograms of free wheat or rice a month
  • The program will be extended for five years from January


This is the precise reason why India is destined to stay in perpetual state of poverty. Instead of giving fishing rod,the government is handing over the fish.
By doing this you are ensuring that the population will remain on state support for ever.

The amount,had it been invested in setting up factories in Bihar and other impoverished states,it would have resulted in serious reduction of poverty.
I think its a good measure. A lot of grain and some necessary crops are bought by the government from farmers at MSP. A huge chunk of these rot in the inadequate cold storage facility. Govt will primarily move these from cold storage to poor people. Although the government shouldn't be the middleman between the farmers(producer) and common people(consumers), because of the socialist flu we still have in our system, we will continue to see these kind of moves. In fact it will also improve the consumption power of the rural India which has been low since covid.

Moreover food security is a basic human right, so i don't oppose these kind of freebies. These are necessary freebies or welfare schemes like that in health and education.
 

ezsasa

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Not true. GoI is providing free ration for two reasons;
1. They already have surplus stock (that would otherwise rot in warehouses),
2. By spending less on food these rural folks can purchase meaningful products; in turn boosting rural demand (yes, we have a rural demand issue and I have made multiple posts on it advocating similar policies).
-food inflation largely remained in control ever since this scheme started, except for the occasional onion and tomato price rise.
-this also makes the bottom of hunger index narrative look stupid, those who read fine print of hunger index metrics understand it differently than to those who don't. those who don't will look stupid while explaining why India is at bottom of hunger index while free grains are being supplied.
 

thebakofbakchod

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Go on and laugh FalconSlayers, but you have never seen what desperation can do to people once hunger sets in. They cannot think straight and can only think of food. Paying for food security is the cheaper option as compared to having your economic expansion plans ruined to widespread anarchy and riots.
800 million indians are not living in food insecurity no matter how much you want to spin it to defend supreme leader. This is revdi at its best. Food support should absolutely be given to the actual poor (if only the government did yearly reports that gives accurate estimates of poverty instead of relying on private surveys that may not be as reliable) and given to all children for breakfast and lunch in schools.
 

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