Indian Economy: News and Discussion

maniacguy

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I see my tiny contribution in that $400B remittance.. hahaa :)

Is there any data on how much remittance is going out of India?
This is a good question. We need to find how much we loose to cut throat countries and their halal economy which is converted into havala and islamic terrorism funding.
 

captscooby81

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Not a great sign as of today , With WFH being pushed aggressively Office space in IT industry looks shrinking faster for at least next 2 years which is going to affect so many projects under construction , Hospitality, Retail taking hit will also badly affect the real estate .

Govt has some plans for the sector, i heard from someone in Public sector bank in senior level , Govt wants to improve the affordable segment to achieve its housing for all scheme before 2024 . Can help the sector but only for a segment not the entire industry .

As of now most of companies in the segment started doing pay cut from 25 % to as bad as 50 % pay cut happening across brands . :tsk:

@captscooby81 , just out of curiosity, how do you reckon the real estate situation in the near future post the CCP virus will be?
 

captscooby81

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As of now we didn't come across such demand for deposit but they are easily asking twice the salary before

situation is very depressing trust me remember i told you on May 3rd when we started operations we had close to 3000 migrant labourers today we have just 900 . They keep leaving in groups day after day from May 1st week . This after giving them 1000 Rs a week and All rations . Their is fear which has fully set in them most left because their family members want them back . So no amount of explanation stopped them .

We can replace few labourers doing basic work but people like Crane operators , Electrical work, Flooring and structure work all these needs experienced labourers , Especially marble flooring gets completely screwed if not done by people with experience .

Most projects under construction are now seeing confirmed 6-10 months delay . Worse part with RERA implemented people dealing in residential projects have huge headache with heavy fines for not completing projects on time including the grace period .

Customers wont be paying their instalments , Bankers won't release the EMI payment without showing them construction progress so its going be spiral effect which is going to affect the companies collections.

Expect prices to go up with shortage of man power, launch of new projects going to be delayed further . Companies now want to clear the existing inventory before taking any more risk .

Well CREDAI had meeting with minister and he had promised to get labourers from Bihar . But as of now no progress , The labourers who had left won't return back in the next 5 months for sure .

@captscooby81 i heard that migrant labour are asking for 1 lakh safety deposit for coming back to construction sites, is it true?
 

ezsasa

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As of now we didn't come across such demand for deposit but they are easily asking twice the salary before

situation is very depressing trust me remember i told you on May 3rd when we started operations we had close to 3000 migrant labourers today we have just 900 . They keep leaving in groups day after day from May 1st week . This after giving them 1000 Rs a week and All rations . Their is fear which has fully set in them most left because their family members want them back . So no amount of explanation stopped them .

We can replace few labourers doing basic work but people like Crane operators , Electrical work, Flooring and structure work all these needs experienced labourers , Especially marble flooring gets completely screwed if not done by people with experience .

Most projects under construction are now seeing confirmed 6-10 months delay . Worse part with RERA implemented people dealing in residential projects have huge headache with heavy fines for not completing projects on time including the grace period .

Customers wont be paying their instalments , Bankers won't release the EMI payment without showing them construction progress so its going be spiral effect which is going to affect the companies collections.

Expect prices to go up with shortage of man power, launch of new projects going to be delayed further . Companies now want to clear the existing inventory before taking any more risk .

Well CREDAI had meeting with minister and he had promised to get labourers from Bihar . But as of now no progress , The labourers who had left won't return back in the next 5 months for sure .
construction companies In an area might as well pool up resources to provide for labourers, and go on a recruitment drives locally.
 

Rxbanda

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Will have to see. Most remittance from India goes to nepal which is probably 3-4 billion usd annual.
What is your opinion on the 15th Finance Commission distribution of 41% taxes to states? Southern states are complaining that it was unjust. % share for KN, Ap, TG and KL has decreased.
 

IndianHawk

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What is your opinion on the 15th Finance Commission distribution of 41% taxes to states? Southern states are complaining that it was unjust. % share for KN, Ap, TG and KL has decreased.
It's long time since I read that report.
Ultimately finance commission is very just body.
More autonomy for state is required for dynamic growth. One size fit all central schemes don't work for all states. So states should have more money.

Regarding share of southern states that will take a hit untill North and east India catches up in development.
 

Rxbanda

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As of now we didn't come across such demand for deposit but they are easily asking twice the salary before

situation is very depressing trust me remember i told you on May 3rd when we started operations we had close to 3000 migrant labourers today we have just 900 . They keep leaving in groups day after day from May 1st week . This after giving them 1000 Rs a week and All rations . Their is fear which has fully set in them most left because their family members want them back . So no amount of explanation stopped them .

We can replace few labourers doing basic work but people like Crane operators , Electrical work, Flooring and structure work all these needs experienced labourers , Especially marble flooring gets completely screwed if not done by people with experience .

Most projects under construction are now seeing confirmed 6-10 months delay . Worse part with RERA implemented people dealing in residential projects have huge headache with heavy fines for not completing projects on time including the grace period .

Customers wont be paying their instalments , Bankers won't release the EMI payment without showing them construction progress so its going be spiral effect which is going to affect the companies collections.

Expect prices to go up with shortage of man power, launch of new projects going to be delayed further . Companies now want to clear the existing inventory before taking any more risk .

Well CREDAI had meeting with minister and he had promised to get labourers from Bihar . But as of now no progress , The labourers who had left won't return back in the next 5 months for sure .
What will be the income source for these people once they go back to their home states? Isn't it the lack of opportunities at home which made them migrate to diff parts of India?
 

Hijibiji

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Time to give a piece of my mind on Indian Economy thread. Indian Econmy thread is that venerable thread where the "projections of GDP of India" were made for 2035 and 2045 and what not, by many esteemed members here. It was amusing for me then (and a bit irritating too).

We have read on many threads how India should get "Semiconductor" industry here in India etc.

I say :bplease:

Forget semiconductor and other fancy items (I would not mention the fancy items, i don't want "scientists" to feel b***-hurt ;) ), first take step back and think:
1) Why is a dining table sold in an Indian city made in China? Does making dining table need advanced technology?
2) Why do Indians pay for that dining table in advance before the baniya places the order for dinig table from China?
3) Why are the toys sold to Indian kids "made in China"? Does making toys need advanced technology like missiles and stuff like that ;)

Before giving "my answer", I will make it clear that i have never seen Indian middle class, rich class, upper middle class discuss these issues on any online channels, but i saw americans do that 10-12 years back.

Now the answers:
1) the answer is the collusion between politicians and baniya class (the upper baniya/ richer baniya, not the street vendor). The baniya does not care as long as he can sell a cheap product from China (after taking advanced payment from lower middle class Indian)

2) The politicians don't care as long as they are paid by baniya and china.

3) The middle class and lower middle class do care. They know what is happening and they know in any case, baniya/ politcian/ china all are going to screw them. The middle class would not mind paying 10-15% extra for a "made -in - india" dining table or toy.

4) The blue collar worker class (the guys who could make dining table and toys in India) would also like to see made-in-india dining tables and toys but they are screwed by politicians and baniyas.

5) Politicians and baniyas think that if they can do $50-60bn business with china (with China having surplus in trade), Chinese would not invade India. :bplease:

To conclude, it's NOT rocket science. Things are clear.

Indians must raise a voice to have chairs, cots, dining tables made-in-india and of course toys!
Otherwise the consequences of the collective karma of smarty indians would burn their asses. (for a hit, consider East India Company ;) )
 

IndianHawk

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Time to give a piece of my mind on Indian Economy thread. Indian Econmy thread is that venerable thread where the "projections of GDP of India" were made for 2035 and 2045 and what not, by many esteemed members here. It was amusing for me then (and a bit irritating too).

We have read on many threads how India should get "Semiconductor" industry here in India etc.

I say :bplease:

Forget semiconductor and other fancy items (I would not mention the fancy items, i don't want "scientists" to feel b***-hurt ;) ), first take step back and think:
1) Why is a dining table sold in an Indian city made in China? Does making dining table need advanced technology?
2) Why do Indians pay for that dining table in advance before the baniya places the order for dinig table from China?
3) Why are the toys sold to Indian kids "made in China"? Does making toys need advanced technology like missiles and stuff like that ;)

Before giving "my answer", I will make it clear that i have never seen Indian middle class, rich class, upper middle class discuss these issues on any online channels, but i saw americans do that 10-12 years back.

Now the answers:
1) the answer is the collusion between politicians and baniya class (the upper baniya/ richer baniya, not the street vendor). The baniya does not care as long as he can sell a cheap product from China (after taking advanced payment from lower middle class Indian)

2) The politicians don't care as long as they are paid by baniya and china.

3) The middle class and lower middle class do care. They know what is happening and they know in any case, baniya/ politcian/ china all are going to screw them. The middle class would not mind paying 10-15% extra for a "made -in - india" dining table or toy.

4) The blue collar worker class (the guys who could make dining table and toys in India) would also like to see made-in-india dining tables and toys but they are screwed by politicians and baniyas.

5) Politicians and baniyas think that if they can do $50-60bn business with china (with China having surplus in trade), Chinese would not invade India. :bplease:

To conclude, it's NOT rocket science. Things are clear.

Indians must raise a voice to have chairs, cots, dining tables made-in-india and of course toys!
Otherwise the consequences of the collective karma of smarty indians would burn their asses. (for a hit, consider East India Company ;) )
Those things are not mutually exclusive .

For consumer good we need private sector to be more free to make everything in India and huge tariffs on china to protect domestic production.

While semiconductor industry govt will have to invest too and bring major investors .

We are big enough to move on all kinds of industries.
 

Hijibiji

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Those things are not mutually exclusive .

For consumer good we need private sector to be more free to make everything in India and huge tariffs on china to protect domestic production.

While semiconductor industry govt will have to invest too and bring major investors .

We are big enough to move on all kinds of industries.
I understand the "exclusives" & "exhaustives" well ;)

I am not here to talk on "we need this" and "we should do that": have seen enough of that.

I am old enough to know very well that once upon a time in India, dining tables were not imported from China. Not toys either. My whole point is to just point out that and urge people to see how the whole "made-in-china" story happened in india even for toys and dining tables (over decades)

I don't even want to talk on "semiconductors" here. Studied "Solid State Physics" and Integrated Circuits back in the day. India is that super-awesome country that produced electronics engineers without having a semiconductors industry :hehe:
 

IndianHawk

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I understand the "exclusives" & "exhaustives" well ;)

I am not here to talk on "we need this" and "we should do that": have seen enough of that.

I am old enough to know very well that once upon a time in India, dining tables were not imported from China. Not toys either. My whole point is to just point out that and urge people to see how the whole "made-in-china" story happened in india even for toys and dining tables (over decades)

I don't even want to talk on "semiconductors" here. Studied "Solid State Physics" and Integrated Circuits back in the day. India is that super-awesome country that produced electronics engineers without having a semiconductors industry :hehe:
Our sold out politicians didn't stopped Chinese dumping at cheap rates that how we lost all those Indian products. Once tarift rise enough we will get them back and much more.

Regarding semiconductor we don't have mass manufacturing but we have r&d centre for Intel , amd and many more . Lots of my friend with vlsi m techs are working on them . ( Lots of works since 5g chips are coming ). We can catch up very fast.
 

Hijibiji

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Our sold out politicians didn't stopped Chinese dumping at cheap rates that how we lost all those Indian products. Once tarift rise enough we will get them back and much more.

Regarding semiconductor we don't have mass manufacturing but we have r&d centre for Intel , amd and many more . Lots of my friend with vlsi m techs are working on them . ( Lots of works since 5g chips are coming ). We can catch up very fast.
Bhai main Intel mein ghush ke kaam bhi kiya hoon! (in the past, though not on semiconductors.) Woh sawb main janta hoon. Anyway thanks for replying.

Point is unless Indians create pressure, why would politicians and baniyas listen?
 

IndianHawk

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Bhai main Intel mein ghush ke kaam bhi kiya hoon! (in the past, though not on semiconductors.) Woh sawb main janta hoon. Anyway thanks for replying.

Point is unless Indians create pressure, why would politicians and baniyas listen?
Apple me kharid liya Intel ka 5g modem division. Mera ek dost ne jyada workload me just iske pahle .
 

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