Indian Economy: News and Discussion

[Knowitall]

Still most forecasts are still over 9 %. Let's see where we end up. I'm still betting on 10% plus specially since govt will again announce measure to boost recovery soon.

Once again this is not how it works.

There is something called the fiscal deficit which the govt needs to maintain very carefully in order to uphold both the consumers and markets confidence.

India's current fiscal deficit stands at 9.3% of the GDP for FY21 which is a lot but slightly better than the expected 9.5%. the govt always tries to stays in single digits 9.3, 6.9 for example. Once double digits start to come a sense of panic starts to build in therefore the govt will always try to stay below 10% while slowly but steadily moving back to 6-7%.

Now look at this idiot.

Print more money, spend liberally: P Chidambaram advises govt | India News - Times of India

India News: NEW DELHI: Expressing concern over the state of the economy, Congress on Tuesday said the Modi government should consider the suggestions offered by t.

timesofindia.indiatimes.com

And people wonder how the economy is still recovering from the past decade.

Printing and spending money might seem like a good idea at the start but it is anything but good. India has had a horrible experience with deficit financing in the 80s where the govt would just spend without thinking twice and the results of that experiment is there for everyone to see.

Printing or borrowing money without any plan will result in more inflation which is something that the govt is trying to control. The other issue as of now is the the "scale of bad loans"

Remember this.

Lockdown moratorium | Loans up to ₹2 crore may get relief

Banks will suffer a loss of ₹6 lakh crore in case of complete waiver to all borrowers, says affidavit

www.thehindu.com

It will take almost a year for us to know the extent of bad loans and NPA's in the banking sector. How many people went bust hoe many had their checks bounced and hoe many lost their assets is simply a unknown factor as of now. Borrowing more money above that is just madness.

Govt has already done a lot by spending generously during the first wave and is now trying to create "bad bank" of sorts to mitigate the damage done. These are steps in the right direction to bring the deficit under control.

spending more will simply increase the damage.

 

[Sehwag213]

Can someone with knowledge of Oil industry explain why edible oil has shot up by 50% in these pandemic times ?

 

[Knowitall]

Can someone with knowledge of Oil industry explain why edible oil has shot up by 50% in these pandemic times ?

In simple terms:-

1) high price from the supplier side.
2) high demand but low production jacking up the prices.
3) tariffs being imposed.
4) agricultural cess being imposed.

 

[Sehwag213]

In simple terms:-

1) high price from the supplier side.
2) high demand but low production jacking up the prices.
3) tariffs being imposed.
4) agricultural cess being imposed.

All 4 factors converged in last 1 year ?

 

[FalconSlayers]

 

[FalconSlayers]

Number of startups recognized by DPIIT goes up to Fifty Thousand




Startup India is a flagship initiative of the Government of India launched by the Prime Minister Shri Narendra Modi on 16 January, 2016. The initiative is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Department for Promotion of Industry and Internal Trade (DPIIT) acts as the nodal Department for the Startup initiative. As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020.


With the launch of the Startup India initiative, recognized startups have now spread across 623 districts. Each State and UT has at least one startup. 30 States and UTs have announced specific Startup Policies to support startups. Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the greatest number of startups.


Notably, it took only 180 days to add the last 10,000 startups, as compared to 808 days for the first 10,000 at the beginning of the initiative. 743 startups were recognized in 2016-2017, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in the year 2020-2021.


Entrepreneurs now have options to avail benefits across a range of laws, regulations, fiscal and infrastructural support, leading to a surge in startup ecosystem growth.


The recognized startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup. About 1.7 lakh jobs were created by recognized startups in the 2020-2021 period alone.


The sectors that had the maximum registered startups were ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’. The leadership teams of 45% startups have a women entrepreneur, a trend which will inspire more women entrepreneurs to turn their ideas into startups.


Startup India at DPIIT has played a pivotal role in strengthening the key pillars identified for our startup economy. Funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of INR 10,000 crore and the recently launched Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 crores.


Multiple programs conceived and implemented by DPIIT -National Startup Awards, State Ranking Framework, Global VC Summit, Prarambh: Startup India International Summit - have provided the ecosystem an opportunity to engage with multiple partners, get recognized for their contribution and showcase the work that is being done.


DPIIT will continue to engage with multiple stakeholders to address the growth opportunities and challenges in the ecosystem, helping the Indian startup ecosystem reach greater heights.

Startup bubble will burst soon, lack of innovation will be the main reason along with lack of funding.

 

[shade]

Scenario has changed drastically in last few years. India is no more a laggard. We can be front runner in 5G unlike we were laggard in 2G, 3G and to some extent 4G. 5G of reliance is already under testing in Jamnagar reliance refinery.

No, no, don't read the headline, Dixon wala only saying for marketing purposes, they are producing a 5G phone for some US company, at the manufacturer level it is just dropping the 5G modem chip onto the PCB, and then passing it through one of those "ovens" for the solder to melt.

In the article they mention other things also, like how they make STBs now, how they have got order from Motorola to produce phones, how they are in JV with airtle to make router and modem, that is the core of the article.

Dixon could possibly become the Foxconn of India .

This is the problem! seeking result of these scheme within days after launching them. Need to wait for 2-3 years atleast to see substantial results.

He just wanted to know details about PLI schemes since there are more PLI schemes now than the average Abdul has kids.
It's clear that these are long term projects( 5 years minimum ), so if any person demands instant "results" he is obviously a very low IQ congressiya shill.

 

[FalconSlayers]

Number of startups recognized by DPIIT goes up to Fifty Thousand




Startup India is a flagship initiative of the Government of India launched by the Prime Minister Shri Narendra Modi on 16 January, 2016. The initiative is intended to catalyse startup culture and build a strong and inclusive ecosystem for innovation and entrepreneurship in India. Department for Promotion of Industry and Internal Trade (DPIIT) acts as the nodal Department for the Startup initiative. As on June 3, 2021, 50,000 startups across have been recognized as startups by DPIIT, of which 19,896 have been recognized since April 1, 2020.


With the launch of the Startup India initiative, recognized startups have now spread across 623 districts. Each State and UT has at least one startup. 30 States and UTs have announced specific Startup Policies to support startups. Maharashtra, Karnataka, Delhi, Uttar Pradesh and Gujarat have the greatest number of startups.


Notably, it took only 180 days to add the last 10,000 startups, as compared to 808 days for the first 10,000 at the beginning of the initiative. 743 startups were recognized in 2016-2017, in the first year of the initiative, which has now increased exponentially to over 16,000 startups being recognized in the year 2020-2021.


Entrepreneurs now have options to avail benefits across a range of laws, regulations, fiscal and infrastructural support, leading to a surge in startup ecosystem growth.


The recognized startups have contributed significantly to job creation, with 5,49,842 jobs reported by 48,093 startups with an average number of 11 employees per startup. About 1.7 lakh jobs were created by recognized startups in the 2020-2021 period alone.


The sectors that had the maximum registered startups were ‘Food Processing’, ‘Product Development’, ‘Application Development’, ‘IT Consulting’ and ‘Business Support Services’. The leadership teams of 45% startups have a women entrepreneur, a trend which will inspire more women entrepreneurs to turn their ideas into startups.


Startup India at DPIIT has played a pivotal role in strengthening the key pillars identified for our startup economy. Funding opportunities to startups have been enhanced through the Fund of Funds Scheme with an overlay of INR 10,000 crore and the recently launched Startup India Seed Fund Scheme (SISFS) with an outlay of INR 945 crores.


Multiple programs conceived and implemented by DPIIT -National Startup Awards, State Ranking Framework, Global VC Summit, Prarambh: Startup India International Summit - have provided the ecosystem an opportunity to engage with multiple partners, get recognized for their contribution and showcase the work that is being done.


DPIIT will continue to engage with multiple stakeholders to address the growth opportunities and challenges in the ecosystem, helping the Indian startup ecosystem reach greater heights.

4 months and 6000 startups added, 50 startups everyday.

PM Modi’s Startup India: Govt recognised startups jump 85X in 4 years even as YoY growth rate contracts

The latest overall tally of recognised startups as of February 17, 2021, has crossed the 44,000-mark. The annual number of such startups scaled to 5,420 in 2017 followed by 8,946 startups in 2018, 11,683 startups in 2019, and 14,778 startups in 2020.

www.financialexpress.com

 

[Knowitall]

Startup bubble will burst soon, lack of innovation will be the main reason along with lack of funding.

No it won't atleast not in the near future.

While some indian startups might be overvalued many are present on stable ground with stable investments and rationale behind spending.

A bubble is created when overvaluation is present across the table. This is not the case here so we will be fine.

 

[FalconSlayers]

No it won't atleast not in the near future.

While some indian startups might be overvalued many are present on stable ground with stable investments and rationale behind spending.

A bubble is created when overvaluation is present across the table. This is not the case here so we will be fine.

Government should have a special fund for innovation.

 

[IndianYonko]

Startup bubble will burst soon, lack of innovation will be the main reason along with lack of funding.

Get out your bubble.

 

[Knowitall]

Government should have a special fund for innovation.

Already being done.

Straight from the govt website.

Innovation Promotion | Ministry of Electronics and Information Technology, Government of India

Startup, Innovation & IPR division of Ministry of Electronics & Information Technology (MeitY) has undertaken a slew of proactive, pre-emptive and graded measures to spur the technology led startup-innovation ecosystem in the country and giving

www.meity.gov.in

We are spending around 260 crore over 5 years to nurture various incubation centre's around India.

There are also other small scale schemes functioning.

 

[FalconSlayers]

Already being done.

Straight from the govt website.

Innovation Promotion | Ministry of Electronics and Information Technology, Government of India

Startup, Innovation & IPR division of Ministry of Electronics & Information Technology (MeitY) has undertaken a slew of proactive, pre-emptive and graded measures to spur the technology led startup-innovation ecosystem in the country and giving

www.meity.gov.in

We are spending around 260 crore over 5 years to nurture various incubation centre's around India.

There are also other small scale schemes functioning.

13 crore per year? Is it enough?

 

[Knowitall]

All 4 factors converged in last 1 year ?

The first two yes pandemic resulted in lower production thus leading to high pricing.

Higher demand but lower production means every barrel counts this the price was increased drastically.

The other two are the policies of our govt done sometime back one of which was to help proper up schemes for farmers.

 

[SavageKing456]

South Asia Should Pay Attention to Its Standout Star

India and Pakistan have much to learn from their once-poorer neighbor Bangladesh.

www.bloomberg.com

Lol,another propaganda

 

[Knowitall]

13 crore per year? Is it enough?

You also need to take into account incubation centre's being provided the research seminars being held and guidance being given.

The govts job is not to fund the entire thing but provide enough for these startups to have a proper working model.

From their private investor's step in and take over the job of funding.

 

[FalconSlayers]

Jio partners with SEGA to bring Sonic the Hedgehog 2 and other games to Jio Games Store

Jio and SEGA have announced a collaboration to bring SEGA game titles to Jio users across platforms.

www.indiatoday.in

Central Government approves Pune-Nashik Semi High-Speed Railway Line

The Central Government has approved the much awaited Pune-Nashik Semi High Speed Railway Project in Maharashtra.

www.metrorailnews.in

Wipro hits ₹3 trillion in market capitalisation

Tata Consultancy Services and Infosys are the two other IT companies to have achieved this feat.India has total 13 listed firms that have crossed the ₹3 trillion m-cap

www.livemint.com

More solar and electrification of railways CC: @IndianHawk

Tata Power Solar secures Rs 686 cr orders from NTPC to set up 210 MW projects - ET EnergyWorld

Tata Power Solar: The projects will be commissioned by November, 2022

energy.economictimes.indiatimes.com

Indian Railways records highest electrification of sections covering over 6000 RKM in 2020-21

Despite the Covid-19 pandemic, the national transporter recorded the highest ever electrification of sections across the Indian Railways network in fiscal 2020-21.

www.financialexpress.com

Goa CM Pramod Sawant launches solar-based electrification programme for remote villages

"With a focus on delivering clean, affordable, and reliable energy to all, Pramod Sawant, Chief Minister of Goa, inaugurated a solar-based electrification programme for remote rural households in Goa," a CESL Statement said.

www.financialexpress.com

Maharashtra: 36 Khelo India Centres To Be Opened In 30 Districts

Maharashtra, 25 May 2021: Sports Ministry has dedicated a total of 143 Khelo India Centres across 7 States with a total budget estimate of Rs 14.30 Crores. These centres will be entrusted with one sports discipline each. The States include Maharashtra, Mizoram, Goa, Karnataka, Madhya Pradesh, Arunac

www.punekarnews.in

 

[FalconSlayers]

Old news and posted before but this SEZ alone will export 4 billion dollars plus of IT Exports in 5 years, Porkies export 2 billion every year only lol.

Qualcomm strikes biggest SEZ lease deal in Telangana | Hyderabad News - Times of India

US-based semiconductors and wireless technology giant Qualcomm is setting up a mega facility spread over nearly 1.6 million sq ft at a SEZ in Hyderab

timesofindia.indiatimes.com

 

[ladder]

Central Government approves Pune-Nashik Semi High-Speed Railway Line

The Central Government has approved the much awaited Pune-Nashik Semi High Speed Railway Project in Maharashtra.

www.metrorailnews.in

It is good that states are taking the lead in such projects but care must be taken for future interoperability and expansion. We shouldn't be faced with a problem that two adjacent states' own network can't be made joined together due to technological differences.

Eg. Silver line in Kerala if can't be extended to Mangalore or further to Goa, we can't exploit it's full potential.

 

[FalconSlayers]

It is good that states are taking the lead in such projects but care must be taken for future interoperability and expansion. We shouldn't be faced with a problem that two adjacent states' own network can't be made joined together due to technological differences.

Eg. Silver line in Kerala if can't be extended to Mangalore or further to Goa, we can't exploit it's full potential.

Will be bro, first silver line will happen to the planned cities then will be extended to Kochi Bangalore Industrial corridor.