Indian Economy: News and Discussion

[f3243007008]

Nobody has land ownership in China? I am not talking of leasing here.

All of Chinese only have use right of land。
Generally speaking, there is no expiration date for agricultural land. If you grow staple food (rice, wheat, etc.), the country will grant subsidies, and China has no agricultural tax. However, the type of land cannot be changed, that is, it is not possible to build a house on agricultural land. If you want to build some supporting facilities, you must get government approval.
The use period of residential land is 70 years.
Commercial and industrial land use period is 40 years.
Residential land is the most expensive

 

[IndianHawk]

Nobody has land ownership in China? I am not talking of leasing here.

Yup that's why Chinese build shitty condos with only as durable to last as the lease of land and hence they keep falling down killing people often.

That is also why wealthy Chinese flock to buy land / property overseas so that they have some kind of security as their Chinese property is never truly theirs.

 

[ezsasa]

All of Chinese only have use right of land。
Generally speaking, there is no expiration date for agricultural land. If you grow staple food (rice, wheat, etc.), the country will grant subsidies, and China has no agricultural tax. However, the type of land cannot be changed, that is, it is not possible to build a house on agricultural land. If you want to build some supporting facilities, you must get government approval.
The use period of residential land is 70 years.
Commercial and industrial land use period is 40 years.
Residential land is the most expensive

Turning of agri land to commercial land is a tough process in almost every country.

 

[f3243007008]

Turning of agri land to commercial land is a tough process in almost every country.

I thought India's land is private owned , so what can do what ever you like on your land

 

[ezsasa]

I thought India's land is private owned , so what can do what ever you like on your land

Let’s say people own 100 acres of agricultural land in a village, some one who owns 5 acres in the middle wants to convert his/her land to a factory, this will disrupt entire agricultural process of remaining 95 acres, because road has to be built, sewage has to be built etc etc..

It’s not banned, but it is highly regulated because once a factory comes in to agri land rest of the land around will automatically convert to urban or industrial area within 10-20 years. It disrupts the livelihood pattern of that area.

 

[Spindrift]

Big ‘if’: Trump says he ‘looks forward’ to India trip while hinting at new trade deal, despite rocky negotiations


US President Donald Trump has suggested that Washington and New Delhi could strike a long-anticipated trade deal during his upcoming visit to India, but a new pact is far from a foregone conclusion.
"He's a friend of mine, he's a great gentleman and I look forward to going to India. So we'll be going at the end of the month," President Trump told reporters in the Oval Office on Tuesday, referring to his Indian counterpart Prime Minister Narendra Modi.

Asked about the prospective trade deal in the works, Trump appeared somewhat optimistic, stating: "They want to do something and we'll see… if we can make the right deal, we'll do it."

India's Ministry of External Affairs expressed a similar sentiment in a missive announcing Trump's February 24 visit, stating it would advance the "global strategic partnership" and strengthen "bilateral ties" between the two countries on a number of issues, including trade.

Despite high spirits on both sides, the ongoing trade talks reportedly hit a snag late last month over a demand from Washington that New Delhi agree to purchase another $6 billion in US agricultural goods before any deal is finalized.

Trade tensions between the two countries came to a head last year after the US dropped India from its "Generalized System of Preferences (GSP)," a trade mechanism which grants tariff exemptions for a number of favored allies. Though the move was intended to encourage India to open up its markets to certain American products, it had the opposite effect, prompting a series of retaliatory tariffs from New Delhi on dozens of US goods.

While India previously offered to scale back some of those levies, particularly on high-tech products from the States, it has since rescinded the proposal. It remains unclear where Indian trade representatives stand on the question now.

The US has called on India to drop its tariffs in order to close a $16 billion trade deficit in New Delhi's favor, but Indian officials insist the country is already a major buyer of American energy, and has ramped up defense buys from the US in recent years, amounting to some $17 billion since 2007.

Hoping to set the tone for a broader agreement ahead of Trump's visit and smooth over the wrangling between trade negotiators, however, New Delhi is expected to ink a $2.6 billion deal for helicopters from US arms contractor Lockheed Martin sometime in the coming weeks.

In the same spirit, the US Department of State approved the possible sale of a large air defense package to India. The contract worth nearly $1.9 billion includes surface-to-air and air-to-air missiles, radars and sensors, as well as training equipment.

source: https://www.rt.com/news/480629-trump-india-trade-deal/

 

[HariPrasad-1]

You are using logic of developed nations. In India we need money with corporates to invest first in infrastructure / skill development / training / expansion. This money inturn goes to people as salary / bonus / profit . And hence circulation begins .

What you do not know is that there are lot more skills are required in agriculture sectors, Vocations etc. If it is done, people on the bottom most level of income pyramid will be strengthen. If this is dome, there will be low subsidy, less spending to uplift poor.

This money inturn goes to people as salary / bonus / profit . And hence circulation begins .

The class you are talking is already powerful. Putting more money in their hands will not make them spend. Most of the money will go into savings. It will not go back into economy as it happens in the case of Poor or lower middle class who has a lots of need awaiting to be fulfilled if they get resources. If i get Rs 10 k, i will not go and buy one mobile. if a poor , who is awaiting for a long time to get a mobile will spend it to buy it in case he gets the money. I will probably save it.

 

[f3243007008]

Let’s say people own 100 acres of agricultural land in a village, some one who owns 5 acres in the middle wants to convert his/her land to a factory, this will disrupt entire agricultural process of remaining 95 acres, because road has to be built, sewage has to be built etc etc..

It’s not banned, but it is highly regulated because once a factory comes in to agri land rest of the land around will automatically convert to urban or industrial area within 10-20 years. It disrupts the livelihood pattern of that area.

So do you need to go through the government if you want to change the land use, or the consent of the nearby land owner is OK?

 

[Bleh]

most Chinese do not. .

What do you mean most? Not all?
In what cases can you own land in China?

I thought India's land is private owned , so what can do what ever you like on your land

Oh no. There's regulation to stop landuse conversion, govt or private... but people find loop holes or someone do it straight up illegally.

For agricultural land usually you can't change landuse unless special cases of large industry, dam reservoir, or going barren... even if you own the land yourself.
Like there's a place near me on river bed of dead Ganges distributary. There's good construction sand underneath the soil, but digging them is illegal because it has fertile agricultural soil on top. Since illegal digging is done though, especially the less fertile areas where they deliberately detoriated the soil to get it declared barren.
You can do minor changes though, like agroforestry or lease your agricultural land for installation of windmill. @HariPrasad-1 will know more.

 

[f3243007008]

What do you mean most? Not all?
In what cases can you own land in China?Oh no. There's regulation to stop landuse conversion, govt or private... but people find loop holes or someone do it straight up illegally.

For agricultural land usually you can't change landuse unless special cases of large industry, dam reservoir, or going barren... even if you own the land yourself.
Like there's a place near me on river bed of dead Ganges distributary. There's good construction sand underneath the soil, but digging them is illegal because it has fertile agricultural soil on top. Since illegal digging is done though, especially the less fertile areas where they deliberately detoriated the soil to get it declared barren.
You can do minor changes though, like agroforestry or lease agricultural land for installation of windmill. @HariPrasad-1 will know more.

All the people do not own land, and most don't have Agricultural land.

If you want to change the landuse , like from Agricultural land to Residential land what's the main process?

 

[Bleh]

If you want to change the landuse , like from Agricultural land to Residential land what's the main process?

Bribes & loopholes mostly... Get it declared as unproductive fallow land.
Otherwise more or less illegal.

 

[Indx TechStyle]

Defense sector is a big let down by Modi Government.

Indigenization and defense exports and have multiplied.

With some moderate increase in research, country can have many fold advantage and savings. research should happen in many areas including farming and animal husbandry along with Defense and Space. Not allocating sufficient budget in this area is letting potential untapped.

Government has been improving R&D budgets since 2018 sector size.

Education budget will be manifolds soon. If anything is left, then other sectors may get.

R&D isn't our problem in farming at first place. Our problem is investment and utilization of tech we already possess. Small scale farmers can't implement most efficient solutions on their tiny pieces of land. Private companies can.

3 to 4% is certainly too much but our ratio is going down and down and as one BJP member had said, they are planning to reduce defense budget to half in long run,

Even Chinese military budget doesn't exceed 2% of their GDP.
Budget is determined in numbers. For a country which is going to be one of world's largest economies, sectors which don't give direct returns isn't a bother.

India's military budget will continue to grow in numbers. As economy will be growing even faster, budget will still coming down in terms of percentage every year and still be among world's top 3 defense budgets.

This can be disastrous in given circumstances and neighborhood.

Circumstances in neighborhood are what that's making India cut down military defense budget.
Pak is becoming more and more insignificant while China doesn't seem to directly hostile to extent. It already got plenty of enemies to deal with.

May be we may get in an arms race in 2-3 decades, increment will make sense then. We don't need high budgets at the moment. Military can get modernized slowly as well as reorganized to work better. More indigenization will make modernization cost effective.

We have fighter squadrons depleting, we have shrinking arsenal of ammunition

Not because of defense budget if you know but supply and procurement side.

India has immediate requirement of modernization and then modest 20 K crore is increased for defense.

See how much Capex budget defense budget had last year vs now.

She gave corporate a tax heaven of rs 1.48 Lakh crore but she is unable to give sufficient amount for national security.

She gave exemption to those who will return some productivity to country.

Military budget doesn't give any returns, national security is far from being risked, budget is 4th largest in world and all the sudden increment will either go down in bribes or to the incentives of foreign lobbies who want to kill India's own military projects.

You Indians all have land, but most Chinese do not. .

You guys too used to until your farming was collectivized (and destroyed collectively) by Mao in GLF campaigns.

 

[Haldiram]

So do you need to go through the government if you want to change the land use, or the consent of the nearby land owner is OK?

Changing the status of land from agricultural to residential cannot be done on an individual plot basis. The government does this en masse for a large chunk of land when they feel the need to make more land available to accommodate residential needs of people.

Per current rule, if you have agricultural land, then the farm owner is allowed to construct a small farm house on that land. The size of the home should not be more than 5% of the total agricultural area for it to be legally considered as a farm house. A popular actor here had bought farm land and constructed a big mansion on top of it. The government seized his property.

 

[f3243007008]

Bribes & loopholes mostly... Get it declared as unproductive fallow land.
Otherwise more or less illegal.

In China , if want to change land use , owner can not decide , gov will.

government will purchase land from land owner , then sell to building Developer

 

[f3243007008]

Changing the status of land from agricultural to residential cannot be done on an individual plot basis. The government does this en masse for a large chunk of land when they feel the need to make more land available to accommodate residential needs of people.

Per current rule, if you have agricultural land, then the farm owner is allowed to construct a small farm house on that land. The size of the home should not be more than 5% of the total agricultural area for it to be legally considered as a farm house. A popular actor here had bought farm land and constructed a big mansion on top of it. The government seized his property.


View attachment 43138

In China , will not seized it , will destruct it,

 

[f3243007008]

I heard that India is experiencing a locust plague?

 

[Suryavanshi]

I heard that India is experiencing a locust plague?

That will be your iron brother Pakistan

 

[f3243007008]

That will be your iron brother Pakistan

So that's fake news from China , some media said India also have locust plague.

 

[Haldiram]

So that's fake news from China , some media said India also have locust plague.

India also had a locust swarm attack in Gujarat and Rajasthan this week.

Me had already notified people in advance to be prepared with forks and barbecue sauce but ain't nobody listen. What a waste of a good locust harvest.

 

[f3243007008]

India also had a locust swarm attack in Gujarat and Rajasthan this week.

Me had already notified people in advance to be prepared with forks and barbecue sauce but ain't nobody listen. What a waste of a good locust harvest.

So you need a lot of Chicken to the area where have locust plague , then Chicken will grow very fast