Indian Economy: News and Discussion

ezsasa

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1. Health ministry was caught napping. Those wankers banned export of PPE and other equipment but refused to give specifications to Indian manufacturers. We depended on WHO, a foreign entity. Which sensible country governing over 1.3 billion people would outsource its national health policy to the WHO which was called out for being a Chinese puppet. Then they floated tenders for procurement and imported PPE suits from China. Like WTF?
The Health Ministry and its affiliates were in comatose till end of March. ICMR was hallucinating on a different tangent altogether. It still is. They had three months to prepare from January till end of March. Very little moved.
The movement of people from Maharasthra and Gujarat post lifting of Lockdown 1 was what led to a massive rise in cases. Regardless, even now, there is no standard treatment protocol on how to deal with ARDS or cytokine storm in Covid patients. Most hospitals and doctors simply shut the doors on patients exhibiting these symptoms which usually happens among patients with comorbidities.
Was this plandemic meticulously planned by detractors of Modi? Don't know but it definitely reeks of it.

2. Modi brought the axe on his own feet by imposing a downright stupid nationwide lockdown. It pushed people and state govt's into penury. Scores of folks in my neighborhood tested positive for covid in Bangalore and remained asymptomatic throughout their so called treatment. Hospitals made money, Govt. bodies got money from centre.

If Modi has half a brain left, he should immediately lift the lockdown and ensure there are adequate facilities available for serious covid patients. Ensure people wear masks and maintain some kind of social distancing.
The testing kits have thrown a ton of false positives. Don't understand how covid positive patients were forcefully discharged from hospitals within three days and told to go home in Bangalore though they wanted to stay in the hospital and continue paying for the treatment. Dal mein kala hai ya poori daal kaali hai, pata nahi?

The handling of Covid was a monumental failure and it eclipsed the horror of demonetization that was heaped on hapless Indian public.

Let there be criticism where it is due.

No matter their tomfoolery, will continue voting for BJP and Modi till a better RW alternative emerges.
You might want to read upon roles & responsibilities of Central & state govts when it comes to health.

Central govt plays the role of advisor when it comes to pandemic, heavy lifting (actual work) will have to be done by states.

ICMR released many guidelines prior to WHO releasing it, they didn’t wait for WHO for everything. for example: when the world was going gaga about “testing testing testing” India was focusing isolation & contact tracing. US & UK didn’t even have that capability by June.

your argument is no different than BBC blaming central govt for riots in some state.

In Karnataka, MLAs were playing resort resort till June, where is the question of governance at state level.

In Delhi & Maharashtra, state govts we’re spreading rumours at night with speakers in auto rickshaw to push out migrant labourers out of their major cities.

Up until May, no govt in the world has clarity on the issue.

I hope a neutral expert write the chronology of events as a book on India’s Chinese virus journey sometime later, there were many traps & baits laid out which govt did not fall for.

You may have your opinions on things you think did not happen, but I think you will be surprised at the things that did happen when all this is finally over.
 

ezsasa

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Advani should have been made PM between 2014-2019 . At least he would have handled the economy better . At that time he was in decent health . This Modi has totally gone against expectations . Considering that Gujarat had a good growth rate when he was CM one had high expectations of growth when he became PM . Indeed was one of the reasons why I voted for him in 2014 . Economically at least Modi has not succeeded at all .
An 85 year old with criminal case against him Supreme Court running for prime minister ship in worlds largest democracy, I wonder how will that work out for 2014 election campaign.
 

another_armchair

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Advani should have been made PM between 2014-2019 . At least he would have handled the economy better . At that time he was in decent health . This Modi has totally gone against expectations . Considering that Gujarat had a good growth rate when he was CM one had high expectations of growth when he became PM . Indeed was one of the reasons why I voted for him in 2014 . Economically at least Modi has not succeeded at all .
Having Advani as PM would be akin to having Sonia Gandhi as PM.
Thanks but no thanks.

What PM Modi has achieved w.r.t securing our strategic interests and strengthening the foundation of our core economy, developing infrastructure, improving electricity, transport, rural connectivity, maoist menace.. no Indian leader has ever managed to achieve so much in so little time.

Am surely missing out a lot more but socially and micro-economically, we have come a long way and are far better placed than we were in 2014.

Modi can only do so much as ensure there is access to credit. Understand base rate is still prohibitively high at above 8% but that's for RBI to take a call.

China has over two decades lead from us. Won't it take us time to catch up?

Does our manpower match theirs w.r.t skills?
 

ezsasa

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In Haryana for a story. After asking directions, I asked - ताऊ lockdown कैसा रहा?
He said - इस बार गेहूं काटने के लिए labour को पैसा नहीं देना पड़ा, सब अपने लड़कों से करवाया. मुनाफा हो गया"

 

another_armchair

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You might want to read upon roles & responsibilities of Central & state govts when it comes to health.

Central govt plays the role of advisor when it comes to pandemic, heavy lifting (actual work) will have to be done by states.

ICMR released many guidelines prior to WHO releasing it, they didn’t wait for WHO for everything. for example: when the world was going gaga about “testing testing testing” India was focusing isolation & contact tracing. US & UK didn’t even have that capability by June.

your argument is no different than BBC blaming central govt for riots in some state.

In Karnataka, MLAs were playing resort resort till June, where is the question of governance at state level.

In Delhi & Maharashtra, state govts we’re spreading rumours at night with speakers in auto rickshaw to push out migrant labourers out of their major cities.

Up until May, no govt in the world has clarity on the issue.

I hope a neutral expert write the chronology of events as a book on India’s Chinese virus journey sometime later, there were many traps & baits laid out which govt did not fall for.

You may have your opinions on things you think did not happen, but I think you will be surprised at the things that did happen when all this is finally over.
My question is simple - We had time from Jan to March. How prepared were we? Covid ran merry in Europe through most of Feb.
What were we doing then?

Then the Delhi riots. That's not some far away state. I don't even want to bother asking who is in charge of Delhi police. Wait, Namaste Trump? Never mind. :rofl:

I hope a neutral expert write the chronology of events as a book on India’s Chinese virus journey sometime later, there were many traps & baits laid out which govt did not fall for.
Look forward to reading it too.
 

ezsasa

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My question is simple - We had time from Jan to March. How prepared were we? Covid ran merry in Europe through most of Feb.
What were we doing then?

Then the Delhi riots. That's not some far away state. I don't even want to bother asking who is in charge of Delhi police. Wait, Namaste Trump? Never mind. :rofl:



Look forward to reading it too.
You are projecting current information available and applying it to the past. The whole country was held hostage by CAA protests + Delhi elections + Delhi riots.

This was the time when global media was so focussed on the amazing engineering feet of CCP building 1000 bed hospital in 14 days or something.

Jan 27. First alarm bell in india rang out when Rajasthan doctor was infected from italian tourists. we has one lab at that time.
By Feb 4th, incoming air travellers were being quarantined in delhi & manesar.

and more importantly, you need not depend on assumptions if you have time you yourself can go thru the threads yourself. DFI itself is a chronicle of all events related to national security.

i was going thru Wuhan virus thread from the start a few days back.
 

ashdoc

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Having Advani as PM would be akin to having Sonia Gandhi as PM.
Thanks but no thanks.

What PM Modi has achieved w.r.t securing our strategic interests and strengthening the foundation of our core economy, developing infrastructure, improving electricity, transport, rural connectivity, maoist menace.. no Indian leader has ever managed to achieve so much in so little time.

Am surely missing out a lot more but socially and micro-economically, we have come a long way and are far better placed than we were in 2014.

Modi can only do so much as ensure there is access to credit. Understand base rate is still prohibitively high at above 8% but that's for RBI to take a call.

China has over two decades lead from us. Won't it take us time to catch up?

Does our manpower match theirs w.r.t skills?
With Modi at the helm we will never catch up to China . He seems to have learnt the lesson that economic growth does not bring votes . Look at what happened to the governments of the two PMs who brought economic growth--P V Narsimha Rao and Vajpayee . Both lost subsequent elections .
 

Haldilal

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My father retired from BHEL few months ago. The company is in terrible state. They are scraping through month by month barely managing to pay salaries. In the past few years they have been bidding for random projects just to keep its workforce employed.
Interesting fact - BHEL has receivables of around 40k crore. (i.e) state run discoms have not cleared their dues to the company even though they got its products. Sad state of affairs.
My thoughts - Unless BHEL undergoes privatization there is high probability that this company is next BSNL.
Me Knew its. :)

BHEL Rejuvenation with a Privatization.

BHEL will focus on the cost control and diversification of its industrial portfolio. The firm increased its profit by just 0.8 % that translate to 684 Crores Rupees.

WEB_m2m_bhel_1559065605517.jpg


Bhel is heavily investing in the Energy Storage business and purchasing many start ups to increase its product portfolio and R&D. Companies like BHEL have been identified for manufacture of equipment such as silicon solar wafers required for making solar cells that is largely imported in the country from China. Also, the company would scale up production of cold rolled grain oriented silicon (CRGO) steel, which is also largely imported from countries such as China, Korea and Japan. CRGO steel is used to manufacture the core of generators and transformers – a key power component that converts mechanical energy into electrical energy.

BHEL is already on the move to invest more in the Energy sector. But the sector is still stressed with long return over investments. Despite making many moves. The only hope for the long term competitive outlook only lies in a Complete Privatization. BHEL has the potential to become the Next L & T but only if its goes through the radical Changes. Major changes in the business portfolio needs to be done before a major move. The major hurdle for this is the Unions which will at all cost oppose the complete Privatization.
 

angryIndian

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5 trillion economy out of reach as millions pushed into poverty .
The sad fact is that even reaching a 5 trillion $ economy by 2030 looks an extremely uphill battle.
And even if India miraculously manages to achieve this target,India would continue to remain in the leagues of low income countries,perhaps Bangladesh and a few African nations would have overtaken us by that time.
 

LondonParisTokyo

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India needs to unilaterally open up. Prescribe everybody Hydroxychloroquine and Zinc as prophylaxis. People that fall sick even in addition to this and test positive to Corona should be treated further. This data should spur the Central government to move judiciously and quickly with economic reforms. There is **NO** time to lose. The Center cannot rely on state governments.
 

Indx TechStyle

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The sad fact is that even reaching a 5 trillion $ economy by 2030 looks an extremely uphill battle.
$6 trillions before 2026 is a mathematically pessimistic target accounting India's real GDP, inflation & currency appreciation.

Not sure which uphil battle you are talking about. Constructive criticism of government is good if you hold any knowledge. Otherwise, you will only be insulting yourself more & more.
 

Haldilal

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In accounting parlance, the latest GDP print will come under the heading "Extraordinaries" or "non recurring items". Understand that there is nothing structurally wrong with the Indian economy, primarily because of our robust demographics. Not saying its easy, but its not EoW.

Bhagwan Ucha.
 

Haldilal

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In Mughal era, annual GDP growth rate was infinity at one time. Because Akbar reduced it to zero with loot. And growth rate is (New - Old )/ Old. So denominator was zero for many years, making it infinity. Same during Shah Jahan rule when Bharat saw worst famines and loots.
 

captscooby81

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Not sure what you are talking about , Country has opened up long back , Only school childrens and college teens and old people are inside home , Software industry which contributes chunk to our economy moved smoothly to work from home , People have moved to their Tier 2 or Tier 3 town natives and happily working from home , saving from paying rent in cities. My friend who went back to his native has even removed swiggy and zomato app from his phone as he don't need them for next 3-4 months at home

I had been going to work since May 8th and meeting site engineers and clients , A colleague of mine tested positive and we all got tested ourselves and back to work in 3 days after result came negative . Again another colleague tested positive and we took another covid test and back to work after 5 days . this in the last 3 months .

Current lockdown is imposed by state governments only and it varies from state to state . Centre has nothing to do in it now .

India needs to unilaterally open up. Prescribe everybody Hydroxychloroquine and Zinc as prophylaxis. People that fall sick even in addition to this and test positive to Corona should be treated further. This data should spur the Central government to move judiciously and quickly with economic reforms. There is **NO** time to lose. The Center cannot rely on state governments.
 
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