(Reuters) -Dec 30,2019: The Indian government has allowed Chinese telecom company Huawei Technologies Co to participate in trials for 5G networks, a company spokesman said on Monday.
Indian Economy: News and Discussion
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sorcerer
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India’s wheat production may touch all-time high
New Delhi: India will see record wheat output this year on higher acreage and conducive weather, the chief of a top government research institute said. Production of the grain in the current crop year 2019-20 that runs from July to June will touch an all-time high of 105 million tonnes, said Gyanendra Pratap Singh of the Directorate of Wheat Research at Karnal, Haryana.
New Delhi: India will see record wheat output this year on higher acreage and conducive weather, the chief of a top government research institute said. Production of the grain in the current crop year 2019-20 that runs from July to June will touch an all-time high of 105 million tonnes, said Gyanendra Pratap Singh of the Directorate of Wheat Research at Karnal, Haryana.
sorcerer
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PE/VC investments climb to a record US$ 37 billion this year
Private equity and venture capital (VC) investments in India touched a record high of US$ 37 billion on the back of large investments in the infrastructure sector, according to a report by private company data tracker Venture Intelligence.
Private equity and venture capital (VC) investments in India touched a record high of US$ 37 billion on the back of large investments in the infrastructure sector, according to a report by private company data tracker Venture Intelligence.
sorcerer
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More than 1 Crore Houses Sanctioned Under PMAY(U) - Huge Job Opportunities In Construction And Allied Sectors
Shri Hardeep S Puri, Minister of State (I/C) for Housing & Urban Affairs has informed that out of a validated demand of 1.12 crore houses in urban areas, 1 crore houses have already been sanctioned. Further, a total of 57 Lakh houses are in various stages of construction of which, nearly 30 Lakh houses have been completed. Compared to the earlier JnNURM scheme, PMAY (U) has achieved 10 times more in a span of 4.5 years, whereas the earlier scheme had taken 10 years to achieve a significantly less number. Pradhan Mantri Awas Yojana (Urban), [PMAY (U)], is one of the largest affordable housing programmes in the world.
Shri Hardeep S Puri, Minister of State (I/C) for Housing & Urban Affairs has informed that out of a validated demand of 1.12 crore houses in urban areas, 1 crore houses have already been sanctioned. Further, a total of 57 Lakh houses are in various stages of construction of which, nearly 30 Lakh houses have been completed. Compared to the earlier JnNURM scheme, PMAY (U) has achieved 10 times more in a span of 4.5 years, whereas the earlier scheme had taken 10 years to achieve a significantly less number. Pradhan Mantri Awas Yojana (Urban), [PMAY (U)], is one of the largest affordable housing programmes in the world.
Haldiram
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Wheat and paddy are more than sufficient. We are screwed in pulses. Much of the Kharif crop in major pulses producing states such as Karnataka, Maharashtra, MP, Gujarat etc have been damaged by extended monsoon season. Unfortunately pigeion peas crop( tur,arhar) is insufficient in African countries as well. We may see a jump in pulses prices in next year, leading to same r-rona on inflation, as we see on onions.
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A joke: A teacher said that Had he been the CEO of reliance, Income of reliance would have increased. His friend asked him how? He replied count the additional income of my two Tuition. Same way,
India's wheat production will increase by about 10 tons this season. The reason being I have grown wheat this season on the land which used to remain idle. So count 10 tons from my side.
DG7867
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Has gormint confirmed this?.....
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Indian growth story based on strong eco fundamentals: Ambassador Shringla
“India is on the march! It became a 3.0 trillion economy this year (IMF World Economic Outlook, Oct 2019). It took us nearly 60 years after independence to reach the 1 trillion mark, only 12 years since then to take it to 3.0 trillion and only 5 y...
Agencies
“Inflation used to be a problem in the early stages of our development. It used to erode incomes, cause hardship to our citizens and even bring down the political governments. "
New Delhi : The Indian economic juggernaut is on the roll and conditions are right for it to be a global super-power of the 21st century, noted Indian Ambassador to USA Harsh Vardhan Shringla as he spoke about strong fundamentals of Indian economy.
“India is on the march! It became a 3.0 trillion economy this year (IMF World Economic Outlook, Oct 2019). It took us nearly 60 years after independence to reach the 1 trillion mark, only 12 years since then to take it to 3.0 trillion and only 5 years, from 2014-2019, to take it from 2.0 trillion to 3.0 trillion. Prime Minister of India has set a goal of achieving the 5.0 trillion mark by 2025 and we are all working diligently to achieve that goal,” Shringla said while delivering address ‘NEXT PHASE OF INDIA’S GROWTH AND DEVELOPMENT at Harvard Kennedy School, Cambridge, Massachusetts’ on Friday.
“India’s growth story is based on its fundamentals. While accelerating growth, we have also achieved macro-stability, inclusive and sustainable growth. We have achieved high growth maintaining social cohesion, democracy and rule of law.”
“Inflation used to be a problem in the early stages of our development. It used to erode incomes, cause hardship to our citizens and even bring down the political governments. All that has changed. From near double digits, inflation has been brought down to the 4.0 percent level over the last five years. India’s fiscal and current account deficits which used to be 6.00 and 3.00 percent respectively a few years ago, have been brought down to half. With this internal and external macro-stability, India’s national currency, The Rupee, has become relatively stable and India has become a favourite destination for investment among the emerging markets,” the envoy pointed out.
“Inclusion can be the biggest failing of rapid growth across the world. But India has managed it remarkably well! Income Inequality has been a problem in many advanced economies, but India has managed to pull millions out of poverty ever since growth accelerated following the liberalization of the 1990’s. According to the Oxford-UNDP Report on multi-dimensional poverty, India has lifted 271 million people out of poverty between 2006 and 2016.”
Social Inequality in India has been addressed through affirmative action and improved opportunities for the disadvantaged groups who were systematically left behind by the travails of history, pointed out Shringla.
Spatial Inequality has been dealt with by redistribution of financial resources through the Finance Commission set up once every five years and through the mechanism of centrally sponsored schemes and investment incentive for the backward areas, he noted.
“India’s Constitutional democracy is exemplary. We have survived and prospered while several other nation states post the world war have fallen. Our Constitution guarantees fundamental rights to all our citizens with an independent Judiciary to enforce them. Together with growth and development India’s socio-political and institutional framework has promoted social cohesion and helped build a fair and equitable State that is run for, by and of the people!”
India enjoys a demographic dividend. Its working age population is larger than its non-working age population and this dividend is expected to last till the middle of the 21st century, said Shringla. “It is likely to propel growth for at least three decades to come. Serious attempts are being made through the Skill India Mission to skill nearly 400 million people and ensure the benefits of demographic dividend translate into growth and development for our economy. By 2030, India is projected to have a skilled labour surplus of over 200 million workers and would be a net supplier of skilled workforce for the entire world. They would also be English speaking, globally mobile and driver of growth for economies around the world.”
“India will soon have the largest market base (population), and with rising per capita incomes, will go on to be the largest market in the world. By 2030, one in two households is expected to be middle class. By then, India would also be an upper middle-income country as per the World Bank classification. This essentially means, by the middle of the 21st century, India would be the largest market on earth, a country which no power would be able to ignore, and whose economy would be closely linked to product markets around the world through global value chains and to the factor markets through investment capital and skilled workforce.”
“India has undertaken unprecedented structural reforms since the liberalization of the 1990’s. Several industries have been de-regulated, many state-owned enterprises privatised and government has opened its doors to Foreign Direct Investment. India today has one of the most liberal FDI regimes, with more than 90 percent of foreign investment flowing-in through the automatic route. Over the last five years, Government has undertaken deeper FDI reforms liberalizing defence, construction, single brand retail, contract manufacturing, aviation, financial services, mining etc. As a result of these initiatives, India achieved record FDI flows of US $286 billion between 2014-15 to 2018-19 making it the one of most attractive FDI destination across the world.”
India has undertaken monumental tax reforms. Goods and Services Tax has done away with cascading, differential tax systems and brought a complex federal polity under one nation, one tax regime, the envoy informed. “It is now being simplified further to internalize efficiencies and to evolve a moderate and efficient tax system that creates an integrated market for the whole economy. Corporate tax reforms announced recently are equally historic. Corporate tax rates have been brought down from 30 to 22 percent and for new investments to only 15 percent making India one of the most competitive industrial locations across the world.”
“Logistics had been a long-standing bottleneck for businesses, which traditionally made the Indian economy less competitive. We have taken up the challenge in full earnest and would be undertaking a massive 1.4 trillion investment in infrastructure over the next five years. Five years ago, we used to build 12 km roads per day; today we build 30 km per day. We are modernizing our railways and have undertaken major upgradation of our ports and airports through the public private partnership route. You will see modern logistics improve efficiency of our economy and make India globally competitive as we arrive closer to the 5.0 trillion target.”
“I will now turn to the entrepreneurial ecosystem. India has made the fastest progress in improving the ease of doing business. India’s ranking in the world bank’s ease of doing business report has improved from 142 in 2014 to 63 in 2019, a jump of 79 places in a short span of five years. India is the fastest growing digital economy and has the third largest Start-up ecosystem in the world. This combined with a large pool of skilled professionals will make India the technology incubator of the future world,” the Ambassador pointed out.
Referring to India-US bilateral trade he said it has been growing 10 percent year-on-year basis and is expected to reach $ 160 billion in 2019. “Trade has also become more balanced with US exports to India growing faster than Indian exports to United States. Our investment relationship is also bi-directional with 2000 US companies investing around 40 billion in India covering almost every sector of the modern economy. 200 Indian companies have also invested 18 billion dollars in US creating more than 1,00,000 jobs directly.”
“India is on the march! It became a 3.0 trillion economy this year (IMF World Economic Outlook, Oct 2019). It took us nearly 60 years after independence to reach the 1 trillion mark, only 12 years since then to take it to 3.0 trillion and only 5 y...
Agencies
“Inflation used to be a problem in the early stages of our development. It used to erode incomes, cause hardship to our citizens and even bring down the political governments. "
New Delhi : The Indian economic juggernaut is on the roll and conditions are right for it to be a global super-power of the 21st century, noted Indian Ambassador to USA Harsh Vardhan Shringla as he spoke about strong fundamentals of Indian economy.
“India is on the march! It became a 3.0 trillion economy this year (IMF World Economic Outlook, Oct 2019). It took us nearly 60 years after independence to reach the 1 trillion mark, only 12 years since then to take it to 3.0 trillion and only 5 years, from 2014-2019, to take it from 2.0 trillion to 3.0 trillion. Prime Minister of India has set a goal of achieving the 5.0 trillion mark by 2025 and we are all working diligently to achieve that goal,” Shringla said while delivering address ‘NEXT PHASE OF INDIA’S GROWTH AND DEVELOPMENT at Harvard Kennedy School, Cambridge, Massachusetts’ on Friday.
“India’s growth story is based on its fundamentals. While accelerating growth, we have also achieved macro-stability, inclusive and sustainable growth. We have achieved high growth maintaining social cohesion, democracy and rule of law.”
“Inflation used to be a problem in the early stages of our development. It used to erode incomes, cause hardship to our citizens and even bring down the political governments. All that has changed. From near double digits, inflation has been brought down to the 4.0 percent level over the last five years. India’s fiscal and current account deficits which used to be 6.00 and 3.00 percent respectively a few years ago, have been brought down to half. With this internal and external macro-stability, India’s national currency, The Rupee, has become relatively stable and India has become a favourite destination for investment among the emerging markets,” the envoy pointed out.
“Inclusion can be the biggest failing of rapid growth across the world. But India has managed it remarkably well! Income Inequality has been a problem in many advanced economies, but India has managed to pull millions out of poverty ever since growth accelerated following the liberalization of the 1990’s. According to the Oxford-UNDP Report on multi-dimensional poverty, India has lifted 271 million people out of poverty between 2006 and 2016.”
Social Inequality in India has been addressed through affirmative action and improved opportunities for the disadvantaged groups who were systematically left behind by the travails of history, pointed out Shringla.
Spatial Inequality has been dealt with by redistribution of financial resources through the Finance Commission set up once every five years and through the mechanism of centrally sponsored schemes and investment incentive for the backward areas, he noted.
“India’s Constitutional democracy is exemplary. We have survived and prospered while several other nation states post the world war have fallen. Our Constitution guarantees fundamental rights to all our citizens with an independent Judiciary to enforce them. Together with growth and development India’s socio-political and institutional framework has promoted social cohesion and helped build a fair and equitable State that is run for, by and of the people!”
India enjoys a demographic dividend. Its working age population is larger than its non-working age population and this dividend is expected to last till the middle of the 21st century, said Shringla. “It is likely to propel growth for at least three decades to come. Serious attempts are being made through the Skill India Mission to skill nearly 400 million people and ensure the benefits of demographic dividend translate into growth and development for our economy. By 2030, India is projected to have a skilled labour surplus of over 200 million workers and would be a net supplier of skilled workforce for the entire world. They would also be English speaking, globally mobile and driver of growth for economies around the world.”
“India will soon have the largest market base (population), and with rising per capita incomes, will go on to be the largest market in the world. By 2030, one in two households is expected to be middle class. By then, India would also be an upper middle-income country as per the World Bank classification. This essentially means, by the middle of the 21st century, India would be the largest market on earth, a country which no power would be able to ignore, and whose economy would be closely linked to product markets around the world through global value chains and to the factor markets through investment capital and skilled workforce.”
“India has undertaken unprecedented structural reforms since the liberalization of the 1990’s. Several industries have been de-regulated, many state-owned enterprises privatised and government has opened its doors to Foreign Direct Investment. India today has one of the most liberal FDI regimes, with more than 90 percent of foreign investment flowing-in through the automatic route. Over the last five years, Government has undertaken deeper FDI reforms liberalizing defence, construction, single brand retail, contract manufacturing, aviation, financial services, mining etc. As a result of these initiatives, India achieved record FDI flows of US $286 billion between 2014-15 to 2018-19 making it the one of most attractive FDI destination across the world.”
India has undertaken monumental tax reforms. Goods and Services Tax has done away with cascading, differential tax systems and brought a complex federal polity under one nation, one tax regime, the envoy informed. “It is now being simplified further to internalize efficiencies and to evolve a moderate and efficient tax system that creates an integrated market for the whole economy. Corporate tax reforms announced recently are equally historic. Corporate tax rates have been brought down from 30 to 22 percent and for new investments to only 15 percent making India one of the most competitive industrial locations across the world.”
“Logistics had been a long-standing bottleneck for businesses, which traditionally made the Indian economy less competitive. We have taken up the challenge in full earnest and would be undertaking a massive 1.4 trillion investment in infrastructure over the next five years. Five years ago, we used to build 12 km roads per day; today we build 30 km per day. We are modernizing our railways and have undertaken major upgradation of our ports and airports through the public private partnership route. You will see modern logistics improve efficiency of our economy and make India globally competitive as we arrive closer to the 5.0 trillion target.”
“I will now turn to the entrepreneurial ecosystem. India has made the fastest progress in improving the ease of doing business. India’s ranking in the world bank’s ease of doing business report has improved from 142 in 2014 to 63 in 2019, a jump of 79 places in a short span of five years. India is the fastest growing digital economy and has the third largest Start-up ecosystem in the world. This combined with a large pool of skilled professionals will make India the technology incubator of the future world,” the Ambassador pointed out.
Referring to India-US bilateral trade he said it has been growing 10 percent year-on-year basis and is expected to reach $ 160 billion in 2019. “Trade has also become more balanced with US exports to India growing faster than Indian exports to United States. Our investment relationship is also bi-directional with 2000 US companies investing around 40 billion in India covering almost every sector of the modern economy. 200 Indian companies have also invested 18 billion dollars in US creating more than 1,00,000 jobs directly.”
Haldiram
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Yes, that's why the Telecom Minister said that we have allowed everyone to participate. Stressing on the 'everyone' part because the US was putting pressure to disallow Chinese companies. Anyway, the US is busy with much more important issues like CAA and Kashmir, why disturb them with petty things like 5G.
Last edited:
captscooby81
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₹102 lakh crore national infrastructure plan" data-reg="Nirmala Sitharaman unveils ₹102 lakh crore national infrastructure plan"
NEW DELHI : Finance Minister Nirmala Sitharaman today unveiled a ₹102 lakh crore national infrastructure pipeline, in accordance with the Narendra Modi government's vision to make India a $5 trillion economy by 2024-25.
The finance ministry had set up a task force headed by Economic Affairs Secretary to prepare a road map for the "national infrastructure pipeline" from 2019-20 to 2024-25 under the ₹100 lakh crore infra plan. The task force was planning a list 10 major infrastructure projects including greenfield and brownfield projects costing above ₹100 crore each.
LIVE updates of Nirmala Sitharaman press conference:
States like Gujarat, Bihar, West Bengal and Rajasthan are yet to provide detailed plan of their investment under NIP.
-Around 42% of NIP projects are now under implementation while 31% are at the conceptualisation stage.
-According to Nirmala Sitharaman, the central government and state governments would have an equal share of 39% each in the NIP. The private sector, on the other hand, would have 22% share which the government expects to increase to 30% by 2025.
-The Narendra Modi government had earlier targetted ₹100 lakh crore for a massive infra push but now the government has extended it.
-Under the national infrastructure pipeline, ₹2.5 lakh crore have been allocated for port and airport projects, ₹3.2 lakh crore for digital infra projects, ₹16 lakh crore for irrigation, rural, agri and food processing projects identified. Over ₹16 lakh crore infra projects including mobility projects.
-The National Infrastructure Pipeline will enable a forward outlook on infrastructure projects, it will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive: Sitharaman.
-National Infrastructure Pipeline: Well-developed infrastructure enhances level of economic activity, creates additional fiscal space by improving revenue base of the government and ensures quality of expenditure focused in productive areas.
-National Infrastructure Pipeline will enable more infrastructure projects, grow businesses, create jobs, improve ease of living and provide equitable access to infrastructure for all.
-18 states have so far come up on board: FM
-It is estimated that India would need to spend $4.5 trillion on infrastructure by 2030 to sustain its growth rate.
-Centre and states spent ₹51 lakh crore in the last 6 years: FM
-Power, railways, urban irrigation, mobility, education, health form bulk of infra project pipeline, says FM.
- ₹2.5 lakh crore port and airport projects, ₹3.2 lakh crore digital infra projects identified, ₹16 lakh crore irrigation, rural, agri and food processing projects identified and over ₹16 lakh crore infra projects including mobility projects: FM
-Private sector to share a 22-25% of NIP investments, Centre and states the rest: Sitharaman.
-Nearly ₹20 lakh crore road and nearly ₹14 lakh crore railway projects lined up under NIP.
-National Infrastructure Pipeline Coordination mechanism will be launched to monitor identified infra projects: Sitharaman.
-Nearly ₹25 lakh crore energy projects are lined up under the national infrastructure pipeline.
-We have kept our promise which was made by PM Modi in his Independence Day speech: Sitharaman.
-Annual investor meet is expected to be organised in the second half of 2020: Sitharaman.
-We are looking at various suggestions given by various working groups under the task force: FM
-Out of the projects included in the national infrastructure pipeline, 43% are under implementation, 33% are at conceptual stage and 19% are under development.
-In the next couple of weeks, another ₹3 trillion worth of projects will be added to the project, taking the total to $105 trillion: FM
- ₹102 lakh crore National Infrastructure Projects (NIP) to help make India a $5 trillion economy by 2025: Sitharaman
-Infrastructure is a focus area for the government: FM
-This is the first time that we will have an infra pipeline: Sitharaman.
-The task force has submitted its report in just 4 months.
-We will get projects worth ₹105 lakh crore in infrastructure, Sitharaman said.
NEW DELHI : Finance Minister Nirmala Sitharaman today unveiled a ₹102 lakh crore national infrastructure pipeline, in accordance with the Narendra Modi government's vision to make India a $5 trillion economy by 2024-25.
The finance ministry had set up a task force headed by Economic Affairs Secretary to prepare a road map for the "national infrastructure pipeline" from 2019-20 to 2024-25 under the ₹100 lakh crore infra plan. The task force was planning a list 10 major infrastructure projects including greenfield and brownfield projects costing above ₹100 crore each.
LIVE updates of Nirmala Sitharaman press conference:
States like Gujarat, Bihar, West Bengal and Rajasthan are yet to provide detailed plan of their investment under NIP.
-Around 42% of NIP projects are now under implementation while 31% are at the conceptualisation stage.
-According to Nirmala Sitharaman, the central government and state governments would have an equal share of 39% each in the NIP. The private sector, on the other hand, would have 22% share which the government expects to increase to 30% by 2025.
-The Narendra Modi government had earlier targetted ₹100 lakh crore for a massive infra push but now the government has extended it.
-Under the national infrastructure pipeline, ₹2.5 lakh crore have been allocated for port and airport projects, ₹3.2 lakh crore for digital infra projects, ₹16 lakh crore for irrigation, rural, agri and food processing projects identified. Over ₹16 lakh crore infra projects including mobility projects.
-The National Infrastructure Pipeline will enable a forward outlook on infrastructure projects, it will create jobs, improve ease of living, and provide equitable access to infrastructure for all, thereby making growth more inclusive: Sitharaman.
-National Infrastructure Pipeline: Well-developed infrastructure enhances level of economic activity, creates additional fiscal space by improving revenue base of the government and ensures quality of expenditure focused in productive areas.
-National Infrastructure Pipeline will enable more infrastructure projects, grow businesses, create jobs, improve ease of living and provide equitable access to infrastructure for all.
-18 states have so far come up on board: FM
-It is estimated that India would need to spend $4.5 trillion on infrastructure by 2030 to sustain its growth rate.
-Centre and states spent ₹51 lakh crore in the last 6 years: FM
-Power, railways, urban irrigation, mobility, education, health form bulk of infra project pipeline, says FM.
- ₹2.5 lakh crore port and airport projects, ₹3.2 lakh crore digital infra projects identified, ₹16 lakh crore irrigation, rural, agri and food processing projects identified and over ₹16 lakh crore infra projects including mobility projects: FM
-Private sector to share a 22-25% of NIP investments, Centre and states the rest: Sitharaman.
-Nearly ₹20 lakh crore road and nearly ₹14 lakh crore railway projects lined up under NIP.
-National Infrastructure Pipeline Coordination mechanism will be launched to monitor identified infra projects: Sitharaman.
-Nearly ₹25 lakh crore energy projects are lined up under the national infrastructure pipeline.
-We have kept our promise which was made by PM Modi in his Independence Day speech: Sitharaman.
-Annual investor meet is expected to be organised in the second half of 2020: Sitharaman.
-We are looking at various suggestions given by various working groups under the task force: FM
-Out of the projects included in the national infrastructure pipeline, 43% are under implementation, 33% are at conceptual stage and 19% are under development.
-In the next couple of weeks, another ₹3 trillion worth of projects will be added to the project, taking the total to $105 trillion: FM
- ₹102 lakh crore National Infrastructure Projects (NIP) to help make India a $5 trillion economy by 2025: Sitharaman
-Infrastructure is a focus area for the government: FM
-This is the first time that we will have an infra pipeline: Sitharaman.
-The task force has submitted its report in just 4 months.
-We will get projects worth ₹105 lakh crore in infrastructure, Sitharaman said.
Knowitall
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It's happening finally the plan is out.
DG7867
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Thanks.. though personally Im not happy with this..
Haldiram
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They're only participating in trials. It allows us to use their (low) bid to get other providers to lower their bid. After all, Eurofighter Typhoon only lowered their price after they saw that Rafale was offering theirs at a lower price. In response, SAAB also offered to lower their price. Allowing multiple bids has a strategic reason of its own. In the end, you can select whoever you want (need not be the lowest bidder), but the lowest bidder forces others to lower their bids.
Even I am not convinced why this 5G tech is so complex that we couldn't R&D it ourselves or at least buy ToT from someone who has it, instead of allowing foreigners to set up their towers here.
This is a bad decision that will haunt us.This is not in India's best interest.You can not trust the Chinese.
This is what Reuters reported:
(Reuters) - The Indian government has allowed Chinese telecom company Huawei Technologies Co to participate in trials for 5G networks, a company spokesman said on Monday.
India's nod to Huawei comes at a time when the global rollout of 5G technology has been complicated by U.S. sanctions against the company. The United States has been lobbying allies not to use Huawei's network equipment in their 5G networks.
Indian television channel CNBC-TV18 reported https://www.cnbctv18.com/telecom/ch...ssion-to-participate-in-5g-trials-4962581.htm the news first, citing a senior official. The trials will be held in January, according to the official, the channel reported.
India's telecom department was not immediately available for comment outside regular business hours.
The telecom department will meet operators on Dec. 31 to confirm the timing for 5G trials, CNBC-TV18 reported, saying all wireless operators in India had received in-principle approvals to conduct the trials.
sorcerer
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Total Forest and Tree Cover rises to 24.56 percent of the total geographical area of the Country
The Union Minister for Environment, Forest and Climate Change, Shri Prakash Javadekar released the biennial "India State of Forest Report (ISFR)", in New Delhi. The report is published by the Forest Survey of India (FSI) which has been mandated to assess the forest and tree resources of the country including wall-to-wall forest cover mapping in a biennial cycle. Starting 1987, 16 assessment have been completed so far. ISFR 2019 is the 16th report in the series.
Announcing the results, the Union Minister said that India is among few countries in the world where forest cover is consistently increasing. Shri Javadekar told that in the present assessment, the total forest and tree cover of the country is 80.73 million hectare which is 24.56 per cent of the geographical area of the country.
The Union Minister for Environment, Forest and Climate Change, Shri Prakash Javadekar released the biennial "India State of Forest Report (ISFR)", in New Delhi. The report is published by the Forest Survey of India (FSI) which has been mandated to assess the forest and tree resources of the country including wall-to-wall forest cover mapping in a biennial cycle. Starting 1987, 16 assessment have been completed so far. ISFR 2019 is the 16th report in the series.
Announcing the results, the Union Minister said that India is among few countries in the world where forest cover is consistently increasing. Shri Javadekar told that in the present assessment, the total forest and tree cover of the country is 80.73 million hectare which is 24.56 per cent of the geographical area of the country.
captscooby81
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quoting coupta ji article here
Not all gloom and doom, there were 10 things to cheer about the economy in 2019
From stabilisation of the bankruptcy process to the roll-back of the worst of the Budget, there were a few things to be optimistic about the Indian economy.
SHEKHAR GUPTA1 January, 2020 8:17 am IST
The tough truth is that 2019 was a particularly bleak year for the economy. Certainly the bleakest since 2013, and on many parameters, worse.
Nevertheless, we begin a new year and a new decade now. So, it might be good to end the year on a note of optimism. I have, therefore, put together 10 bits of good news on the economy, even in an otherwise lousy year.
• The first, undoubtedly, was the stabilisation of the bankruptcy process. A corporate group as big and well-connected as the Ruias lost its lucrative behemoth Essar Steel to ArcelorMittal. This is the biggest example of a well-connected, powerful oligarch accepting bankruptcy and selling its most coveted business. Several other, smaller promoters lost their bankrupt businesses too.
True capitalism should accept business failure as a normal hazard, not a point of social shame. Promoters fail in one business, lose it, then dust their bruised knees and try something else. Donald Trump may not be the ideal poster boy, but unless a society learns to accept genuine business failure, it has no economic future. India made that beginning in 2019.
• If this was a powerful promoter forced to sell out under legal pressure, we saw another fine — and, if I may add, inspirational — example of a more powerful owner doing so by himself, instead of using his enormous political connections or media power to brazen it out. Subhash Chandra, owner and founder of the Zee Group, suffered massive losses in many of his recent investments, made on borrowings in go-go times.
Then the music stopped, he wasn’t able to pay back his creditors, mostly mutual funds, and there was a crisis. Now, within the year, he has repaid almost everything. In the process, he has sold away his crown jewel, Zee Entertainment. He has done it without needing an IBC process.
This wasn’t just honourable, it was also atypical of an Indian business family patriarch. Chandra is among our most instinctive, successful and self-made entrepreneurs. But when he suffered a big failure, he had the honesty and the largeness of heart to sell out and pay back. Another sign that Indian capitalism is coming of age.
• This year demonstrated that the Modi government has ended the culture of ‘bailouts’. Jet Airways was allowed to go bust. There were no phone calls to banks to keep it going. Nor did anybody call to save Essar. This absence of “phone-call bailouts” is a virtuous change.
• The Modi government’s announcement of a full sell-out of BPCL is historic. Air India is an albatross any government would try to offload from its neck. But to put a perennial profit-maker like BPCL on the block shows genuine intent for privatisation. It breaks a taboo that profit-making PSUs can’t be sold.
• The year started with the Modi government launching a war on statistics and data. First, the unemployment survey figures were junked. Later, the consumption spending survey was repudiated. But, as the year ended, the government set up a committee on statistics, and put it under the leadership of a known, vocal and respected critic, Pronab Sen. The committee also has intellectual heft. If the Modi government accepts that lack of data credibility is hurting it and makes its peace with statistics, it is progress.
• This was the first full year since the inflation-targeting law and mechanism was tested. The good news is, the political establishment as well as the RBI passed the test. Avoiding the temptation and pressures to spend its way out of a terrible growth decline showed a welcome resolve on the part of the political class.
• Troubles apart, GST was an important reform. Was there a perfect way of doing it? I don’t know. There were too many rates, too many changes, but the government didn’t lose its nerve, and stayed the course. For a society used to following no rules and averse to paying tax, this is a big reform. The BJP has persisted despite the anger of the traders, its key support base. How angry they are, you could see earlier this week with the sparse attendance at the party’s Delhi unit’s traders’ meet. In 2018, there were only 76 lakh businesses registered in the formal taxation system. Now, there are 1.3 crore. That can’t be bad news.
• The e-filing and e-assessment of tax returns, especially Income Tax, is now nicely established. Of course, there is much tax terrorism and misuses of power of raids, seizures and unreasonable demands. But that is something we complain about through the year. The fact is, the rise in e-assessment is big progress.
• The most important good news is the prompt rolling back of the worst news of the year, the Budget. It raised taxes, spoke a language hostile to private business, and flaunted povertarian impulses that would do credit to a Narayan Dutt Tiwari in the pre-1991 era. Subsequently, week after week, or more or less Friday to Friday, Nirmala Sitharaman has rolled back the worst of her Budget — of which there was a lot, honestly. To top it, corporate taxes have been cut to globally competitive levels, and in a rational way, by taking away messy exemptions. As we say, subah ka bhoola agar shaam ko ghar aa jaaye…
• And finally, a big political shift. It is simplistic to blame the Budget on the finance minister. Ultimately, today, everything reflects the government’s political instinct. Post-Pulwama nationalist surge apart, the Modi-Shah BJP concluded that the bigger reason for its victory was all the schemes of direct benefit transfer to the poor. So, now that the poor were with us, why not appear even more pro-poor. And what better way to do that but be seen to be hurting the rich?
The Budget this year reflected this political impulse. But as the markets hit back, the Modi government was quick to retreat. The first indication was the tribute to wealth-creators in the Prime Minister’s Independence Day speech, then the corporate tax cut, and now repeated pep talks and meetings with industry chambers and leaders.
This was a clear indication that a welcome new principle was being established: May you ever be so high, the market is always above you. It’s a reasonable note to begin 2020 with.
https://theprint.in/opinion/the-fac...gs-to-cheer-about-the-economy-in-2019/343195/
Not all gloom and doom, there were 10 things to cheer about the economy in 2019
From stabilisation of the bankruptcy process to the roll-back of the worst of the Budget, there were a few things to be optimistic about the Indian economy.
SHEKHAR GUPTA1 January, 2020 8:17 am IST
The tough truth is that 2019 was a particularly bleak year for the economy. Certainly the bleakest since 2013, and on many parameters, worse.
Nevertheless, we begin a new year and a new decade now. So, it might be good to end the year on a note of optimism. I have, therefore, put together 10 bits of good news on the economy, even in an otherwise lousy year.
• The first, undoubtedly, was the stabilisation of the bankruptcy process. A corporate group as big and well-connected as the Ruias lost its lucrative behemoth Essar Steel to ArcelorMittal. This is the biggest example of a well-connected, powerful oligarch accepting bankruptcy and selling its most coveted business. Several other, smaller promoters lost their bankrupt businesses too.
True capitalism should accept business failure as a normal hazard, not a point of social shame. Promoters fail in one business, lose it, then dust their bruised knees and try something else. Donald Trump may not be the ideal poster boy, but unless a society learns to accept genuine business failure, it has no economic future. India made that beginning in 2019.
• If this was a powerful promoter forced to sell out under legal pressure, we saw another fine — and, if I may add, inspirational — example of a more powerful owner doing so by himself, instead of using his enormous political connections or media power to brazen it out. Subhash Chandra, owner and founder of the Zee Group, suffered massive losses in many of his recent investments, made on borrowings in go-go times.
Then the music stopped, he wasn’t able to pay back his creditors, mostly mutual funds, and there was a crisis. Now, within the year, he has repaid almost everything. In the process, he has sold away his crown jewel, Zee Entertainment. He has done it without needing an IBC process.
This wasn’t just honourable, it was also atypical of an Indian business family patriarch. Chandra is among our most instinctive, successful and self-made entrepreneurs. But when he suffered a big failure, he had the honesty and the largeness of heart to sell out and pay back. Another sign that Indian capitalism is coming of age.
• This year demonstrated that the Modi government has ended the culture of ‘bailouts’. Jet Airways was allowed to go bust. There were no phone calls to banks to keep it going. Nor did anybody call to save Essar. This absence of “phone-call bailouts” is a virtuous change.
• The Modi government’s announcement of a full sell-out of BPCL is historic. Air India is an albatross any government would try to offload from its neck. But to put a perennial profit-maker like BPCL on the block shows genuine intent for privatisation. It breaks a taboo that profit-making PSUs can’t be sold.
• The year started with the Modi government launching a war on statistics and data. First, the unemployment survey figures were junked. Later, the consumption spending survey was repudiated. But, as the year ended, the government set up a committee on statistics, and put it under the leadership of a known, vocal and respected critic, Pronab Sen. The committee also has intellectual heft. If the Modi government accepts that lack of data credibility is hurting it and makes its peace with statistics, it is progress.
• This was the first full year since the inflation-targeting law and mechanism was tested. The good news is, the political establishment as well as the RBI passed the test. Avoiding the temptation and pressures to spend its way out of a terrible growth decline showed a welcome resolve on the part of the political class.
• Troubles apart, GST was an important reform. Was there a perfect way of doing it? I don’t know. There were too many rates, too many changes, but the government didn’t lose its nerve, and stayed the course. For a society used to following no rules and averse to paying tax, this is a big reform. The BJP has persisted despite the anger of the traders, its key support base. How angry they are, you could see earlier this week with the sparse attendance at the party’s Delhi unit’s traders’ meet. In 2018, there were only 76 lakh businesses registered in the formal taxation system. Now, there are 1.3 crore. That can’t be bad news.
• The e-filing and e-assessment of tax returns, especially Income Tax, is now nicely established. Of course, there is much tax terrorism and misuses of power of raids, seizures and unreasonable demands. But that is something we complain about through the year. The fact is, the rise in e-assessment is big progress.
• The most important good news is the prompt rolling back of the worst news of the year, the Budget. It raised taxes, spoke a language hostile to private business, and flaunted povertarian impulses that would do credit to a Narayan Dutt Tiwari in the pre-1991 era. Subsequently, week after week, or more or less Friday to Friday, Nirmala Sitharaman has rolled back the worst of her Budget — of which there was a lot, honestly. To top it, corporate taxes have been cut to globally competitive levels, and in a rational way, by taking away messy exemptions. As we say, subah ka bhoola agar shaam ko ghar aa jaaye…
• And finally, a big political shift. It is simplistic to blame the Budget on the finance minister. Ultimately, today, everything reflects the government’s political instinct. Post-Pulwama nationalist surge apart, the Modi-Shah BJP concluded that the bigger reason for its victory was all the schemes of direct benefit transfer to the poor. So, now that the poor were with us, why not appear even more pro-poor. And what better way to do that but be seen to be hurting the rich?
The Budget this year reflected this political impulse. But as the markets hit back, the Modi government was quick to retreat. The first indication was the tribute to wealth-creators in the Prime Minister’s Independence Day speech, then the corporate tax cut, and now repeated pep talks and meetings with industry chambers and leaders.
This was a clear indication that a welcome new principle was being established: May you ever be so high, the market is always above you. It’s a reasonable note to begin 2020 with.
https://theprint.in/opinion/the-fac...gs-to-cheer-about-the-economy-in-2019/343195/
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@Haldiram @Indx TechStyle
regarding dip in core sector growth, is it possible that companies maintaining less inventory of raw material these days because their goods transit time has reduced because of GST?
regarding dip in core sector growth, is it possible that companies maintaining less inventory of raw material these days because their goods transit time has reduced because of GST?
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IMO Govt has just collated all the in progress, and planned projects to show big numbers. Just another "sentimental churan" as @Haldiram baba once said. These projects were already supposed to go. They have just added up all and presented as anew to boost public sentiment. Some new IAS afsar must have given such a suggestion.
