Indian Economy: News and Discussion

Tang

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and my sisters who are registered as landowners have been getting extra 6000 per acre from govts per crop season, since they have less than 3 acres in their name.

point I am trying to make is, compared to congi times there is a economic ring fence to protect the poor. And the money is reaching them. Since this is during Modi govt, this is being ignored in the national English news media discourse .
And this is why he is winning
 

Aaj ka hero

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If she is working and assuming she is being paid well for that then why should she be paid additional money from tax payer's money?



You are assuming a lot of things and you are wrong about every one of them, I am a college grad with pretty good marks and know-how to in my field, the job is not an issue for me, I already earn by free lancing work and no I am not some one who is born with a silver spoon, just a typical middle-class launda who doesn't want his money to be wasted on bumps like you who do nothing but demand more freebies.

Even ezasa stated in the comment that actual people who were doing the job had their salaries delayed to fund the people who don't work..why this disparity? I can relate to this cuz my father is a teacher in a government college and so is my mom, his salary gets delayed by sometimes 3 months, he works hard not your typical government chaap, he never managed to visit me in my school since his posting was far away and could only meet us on Saturday, Sunday or holidays, even today in the morning at 4am in the morning boarded train to reach the college in this chilly winter and my mom after doing the regular day to day work went to college, I gave my exams and now working on a project, it's a regular thing for me and millions of actual hard-working people...so you think its right to delay the salaries to people like this and fund people who do nothing but jerk off in the corner?

Rather than giving it for free there can be the creation of jobs, there's a need for more police, capable teachers, maids in school, peons, etc. I would rather want them to have a better job than see getting addicted to freebies. Freebies are not the solution, never were they are cheap tricks to get votes, they are bound to fail...covid is a unique situation so I guess its fine but your agenda of 'bandar-baat' is stupid and only a person like you can think that it's feasible and is right.
very right bro, I am really in line with you on this.
One must never take money from deserving.
 

Knowitall

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You know at times when I look at china and their actions I am unable to decide if I'm supposed to be angry at them or amazed by them.

I guess if you look from a truly neutral perspective you will be amazed by what china has achieved and how focused they are on their goal no matter how ruthless they act in the way.

But then when I look at this from my perspective as a citizen of India I can only feel angry and sad.
 

ezsasa

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You know at times when I look at china and their actions I am unable to decide if I'm supposed to be angry at them or amazed by them.

I guess if you look from a truly neutral perspective you will be amazed by what china has achieved and how focused they are on their goal no matter how ruthless they act in the way.

But then when I look at this from my perspective as a citizen of India I can only feel angry and sad.
Don't be angry or amazed, look at it like as an experiment where india doesn't have to spend money on, but learn from the outcomes. But some elements of this experiment will run for decades, that goes without saying.
 

Okabe Rintarou

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Everything changa on this forum only for obvious reasons.
while on the ground economy is in tatters , with poverty all time high with extreme poverty probably doubled.


India's growing poverty and hunger nobody talks about.

Multiple estimates by multilateral institutions show the COVID-19 pandemic will hit India the hardest by sending 40 million people into extreme poverty, worsen hunger and income inequality, and yet the government seems oblivious with no data, no estimation or policy response


Multiple studies have been warning that the pandemic-induced economic crisis would have a cataclysmic impact on the poor globally and be particularly severe in India - home to the maximum number of poor - sending millions back into poverty.

Eight months into the lockdown, estimates are becoming more definitive, though, with a caveat that the situation could worsen if the pandemic becomes more severe as many countries (the US and several European nations) are witnessing a second wave, taking the number of daily virus cases to new heights.

40 million Indians estimated to slip into extreme poverty

Latest estimate from the International Monetary Fund (IMF) reports - World Economic Outlook: A Long and Difficult Ascent, October 2020 and Fiscal Monitor: Policies for the Recovery, October 2020- shows that 90 million people globally would slip into "extreme poverty" (surviving on $1.9 a day) due to the pandemic. This is in line with the World Bank's June 2020 estimate ("Projected poverty impacts of COVID-19") which estimated 70-100 million to slip into extreme poverty.



India would account for 40 million of the 90 million the IMF says would turn extremely poor or 44.4% of all. The following graph from the IMF's Fiscal Monitor report shows that in India (extreme left), their number would rise from 80 million in 2018 to 120 million in 2020.



The report explains why (as have many others earlier): "The pandemic has had a disproportionate effect on low-income households in many countries because they are concentrated in the informal sectors, are more vulnerable to job losses, have lower financial savings, and have less access to healthcare."

The IMF report quotes recent studies in both developed and developing economies to say that the pandemic is impacting the economically more vulnerable, like younger workers and women the most. Those employed in small and medium enterprises or informally employed are more vulnerable to job loss. It also points out that the pandemic would "exacerbate pre-existing trends" in the context of income inequality.

Here is a graph providing a comparative picture of income inequality (measured by Gini coefficient) in both developed and developing economies. India figures next to China entering into the pandemic (second from left in the second chart "Emerging Market and Developing Economies")



India is a basket case when it comes to its workforce:

94% of its workers are informal with little legal protection and social security cover. Here is a graph from former Niti Aayog vice-chairman Arvind Panagariya's latest book "New India:

Reclaiming the Lost Glory" 2020 which shows 94.2%of its workers are employed in small firms (1-50 workers), 2.3% in medium (51-200 workers) and 5.3% in large firms (more than 200 workers).

In comparison, China's 12.3% of workers are employed with small, 31.1% in medium and 56.6% in large firms. Large firms provide better protections to workers, a privilege enjoyed by very few in India (5.3%). India's recent labour reforms seek to weaken it further by stripping small firms (0-50 workers) completely off whatever legal protections they have had.



India is more vulnerable to hunger too

Earlier this month, the Global Hunger Index 2020 report ranked India at 94 (of 107 it mapped for the 2020 report), far below neighbouring Sri Lanka, Bangladesh and Pakistan. This index is based on four component indicators:

(i) undernourishment (insufficient caloric intake)

(ii) child wasting (under 5 years)

(iii) child stunting (under 5 years) and

(iv) child mortality (under 5 years).

India's progress has been very tardy compared to its neighbours as the following graph shows. Its "child wasting" (low weight for age reflecting acute undernourishment) and "child stunting" (low weight for age reflecting chronic under-nutrition) is particularly poor.

The hunger index scores are measured on a scale of 0-100, where '0' represents zero hunger.


View attachment 67460

The Global Hunger Index 2020 reflects the pre-pandemic situation and comes with a warning: "In 2020, owing to the COVID-19 pandemic, the values of some of the GHI component indicators, and in turn the GHI scores, are likely to worsen, but any changes that occur in 2020 are not yet reflected in the data and scores in this year's report."

As for India, it says: "In India, like in many other countries, the pandemic is aggravating an already serious hunger situation."

That India has been slipping on hunger, poverty and income inequality indicators even before the pandemic hit is well-known
.

The Niti Aayog report of December 27, 2019 (SDG India - Index and Dashboard 2019-20) showed that of the 28 states and union territories it mapped, 22 saw poverty go up in 2019 compared to 2018 (no change in 4 and improvement in 2); 24 saw hunger go up (fell in 4) and 25 saw income inequality go up (fell in 3) during the same period.

The following graph maps the Niti Aayog's findings.

View attachment 67459

Government not bothered about rising poverty or hunger

Ironically, the government never acknowledged the Niti Aayog's report nor took corrective measures.

It had done the same for growing unemployment and slowing down of the economy before the pandemic.

After the pandemic hit, it never bothered to track job loss or loss of lives of migrant workers, millions of whom walked home for months - a phenomenon not witnessed anywhere else in the world - some perishing on the way.

Consequently, it did not do anything to protect jobs, unlike the OECD countries which saved 50 million jobs, or help survive loss of jobs and livelihoods of millions.

In a display of gross callousness, it told the Parliament during the September 2020 session that it has no data and therefore it can't even provide compensation for deaths of migrant workers.

The inept and callous handling of the pandemic and the untimely and unplanned lockdown has jolted India like no other country
. Its GDP growth for the April-June 2020 quarter tanked to minus 23.9% - the highest among major economies. The RBI estimates the GDP growth for the entire fiscal to be minus 9.5%, as against the IMF's estimate of minus 10.3%, while its global average is estimated to be minus 4%.

With such a poor track record in handling the economy and the pandemic and the consequent human tragedies which go unacknowledged, un-remedied poverty, hunger and income inequality will progressively get worse.

https://m.businesstoday.in/lite/sto...-due-to-covid19-pandemic-effect/1/420575.html
Once before, you posted similar alarmist hysteria. I asked you what you personally would have done had you been Prime Minister to prevent any of this from happening. I ask you again.
What would you have done as Prime Minister?
You ran away last time. Don't run away now. Answer.
 

sorcerer

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warriorextreme

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Once before, you posted similar alarmist hysteria. I asked you what you personally would have done had you been Prime Minister to prevent any of this from happening. I ask you again.
What would you have done as Prime Minister?
You ran away last time. Don't run away now. Answer.
As a Prime Minister he would have ran away just like his masters. Everyone has solutions to give until they are made responsible for the consequences.

Even with one of the lowest mortality rate the World Media is hounding Modi, I can't imagine what they would have done if India had mortality rate comparable to much developed western countries.

Damned If You Do And Damned If You Don't
 

shade

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You know at times when I look at china and their actions I am unable to decide if I'm supposed to be angry at them or amazed by them.
Even I admire the ching chongs tho, apart from the part where they throw you into a concentration camp in Xinjiang if you call Xi winnie the pooh.
Other than that they have been doing very well.

I hope our time in the sun comes during my youth.
 

shade

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I am currently installing 10kv solar on grid setup..to reduce my electricity bil😁😁😁
In certain Phoren lands of the gora variety the power companies there have a scheme for home owners with solar panels.
You bill is subsidized depending on how much electricity your panels produce basically, if you're prodigious as producing bijli and consuming less, their bills also go in negative sometimes.
The electricity produced from your panels go back into the grid basically, which is why your bill get's subsidised
 

Bhumihar

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In certain Phoren lands of the gora variety the power companies there have a scheme for home owners with solar panels.
You bill is subsidized depending on how much electricity your panels produce basically, if you're prodigious as producing bijli and consuming less, their bills also go in negative sometimes.
The electricity produced from your panels go back into the grid basically, which is why your bill get's subsidised
Smart grid is a major topic of research here in India as well. Government will begin testing in some remote sectors soon.
 

hit&run

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Commies survive on their compulsive denial. When they start accepting good work they stop being Commies. And being commies is such an addiction that they fall sick without it.

My father is saving 1000 rupees per month by simply buying his and my mother’s medicines for their various needs from Jan Aushadi pharmacy opened by Modi government. He was initially reluctant to go there even when the shop was 4 blocks away.

My boss who is in top 25 neurologists recently told me about his expansion plans because Modi health care is increasing his average admissions.

When first lockdown happened the labourers were well paid and had enough food and groceries to cruise through. The commie thugs who pimp Jihadis will never talk how super spreaders tabligis failed the first lock down and then second to the break both the employer and the employees resulting to mass migration crisis.
 

shade

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Commies survive on their compulsive denial. When they start accepting good work they stop being Commies. And being commies is such an addiction that they fall sick without it.

My father is saving 1000 rupees per month by simply buying his and my mother’s medicines for their various needs from Jan Aushadi pharmacy opened by Modi government. He was initially reluctant to go there even when the shop was 4 blocks away.

My boss who is in top 25 neurologists recently told me about his expansion plans because Modi health care is increasing his average admissions.

When first lockdown happened the labourers were well paid and had enough food and groceries to cruise through. The commie thugs who pimp Jihadis will never talk how super spreaders tabligis failed the first lock down and then second to the break both the employer and the employees resulting to mass migration crisis.
No, they become hypocrites.
Champagne socialists are of this variety, benefit from free enterprise and democrazy yet curse the system that begets their wealth.
Folks of the most wealthiest and top of class pyramid families end up being the most virulent and prominent Gommunists.
 

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