Indian Economy: News and Discussion

Why so serious?

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Look at how public money is wasted.
Govt imported onions under public/ media pressure and now the import has no takers. What a waste of taxpayer money.
https://timesofindia.indiatimes.com...-fears-stock-may-rot/articleshow/73253985.cms
The centre was a bit slow on importing onions, they were not here when they were needed the most.

The damage to the kharif crops of Onions was due to heavy rains and due to this rabi crops were sown earlier than usual and so they are being harvested earlier than usual.

The rabi crops which start to show up around Holi are already started to show up in the markets and even when the state governments not buying the imported stock you can see the prices easing.

Maybe the centre was not updated on the ground realities whereas the states expecting early harvest refused to buy the imports.
 

indus

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Can't centre directly release tenders for this instead of relying on state government. I refuse to believe no big vendors want to buy these cheap onions when the onions being sold in market are of much higher price.

Also what prompted the centre to buy such a huge amount of onions when they knew that the prices will fall as soon as the new crop hits the market.
Lack of foresight?
Caving into pressure and Hysteria?

Who is to be blamed for this?

This is a problem and the gov must find a solution to this?
Yep, tenders are called directly pan India basis. But the lifting is not as expected. Thats why Centre asked all states to come forward. Ironically few states have promised to offtake imported stock. The reason for poor response is that both Turkish, Egypt onions are huge in size and less pungent. So, customers dont like the taste, as much the Indian onions. The usual red/pink onion is specific to Indian sub continent and is found in Pakstan, Bangladesh, other than India. And their shelf life is also poor. Delhi elections is definitely one factor which forced Govt to take a drastic step. Caving into pressure and hysteria? Yes.
Who is to blame? Us and Media
 

sorcerer

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India offers 11 oil, gas blocks in 5th bid round

New Delhi: India on Wednesday announced the opening of the fifth oil and gas block bid round, offering 11 areas for bidding on revamped fiscal terms.

So far, the government has awarded 94 blocks under the Hydrocarbon Exploration & Licensing Policy (HELP) regime in a short time span of two and a half years.

These 94 blocks cover an exploratory area of about 1,36,800 square kilometers over 16 Indian Sedimentary Basins, the Directorate General of Hydrocarbons (DGH) said in a statement.

"In continuation of its aggressive acceleration of exploration and production activities and adhering to the prescribed timelines, the Government has now launched the Bid Round-V for International Competitive Bidding," it said. "In this bid round 11 blocks, with an area of approximately 19,800 sq km are on offer for bidding to the investor community."


http://www.millenniumpost.in/business/india-offers-11-oil-gas-blocks-in-5th-bid-round-395840
 

sorcerer

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India could be the first non-Arctic state to produce Arctic oil and gas resources
Russian-Indian cooperation in the oil and gas sector could make India the first non-Arctic state to extract resources in the Arctic, Foreign Minister Sergey Lavrov said in an interview with The Times of India.

https://arctic.ru/international/20200115/899055.html
 

Prashant12

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Thomson gets Android license, to make TVs in India


NEW DELHI: Thomson TV will become the first television player in the country to make Google’s Android powered televisions, entirely in India using in-house backward integration manufacturing. The company is among the six electronics brands such as Sony and TCL to have acquired the license from Google to manufacture and sell Andriod powered television sets.

Avneet Singh Marwah, CEO of Super Plastronics which has the brand licensee of Thomson said that the company started importing Andriod TVs in India from China last year and looking at the great response it received, Google has decided to give it the license to manufacture Andriod TVs end to end in India.

Noida-headquartered Super Plastronics, which has three manufacturing facilities in India and has spent close to Rs. 300 crore in the last two years in expanding its facilities is looking at further expansion this year.

Marwah said that the company already has a research and development center in Banaglore and is now looking at a bigger center. “We will make an expansion announcement soon for this year,” he said. Making the TVs end to end in India will allow for the applications and the operating system to be updated regularly, Marwah added.

The company has set a target of selling close to half million units in calendar year 2021 and is looking to launch the made in India Andriod TVs by February or March this year.

https://economictimes.indiatimes.co...m_medium=HPTN&utm_campaign=AL1&utm_content=23
 

sorcerer

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World Bank and Government of India Sign $88 million loan agreement for the implementation of Assam Inland Water Transport Project

The Government of India, the Government of Assam and the World Bank signed a loan agreement of $88 million here today to help modernize Assam’s passenger ferry sector that runs on its rivers including the mighty Brahmaputra.
 

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sorcerer

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NHAI records highest daily toll collection at Rs 86.2 crore


National Highways Authority of India (NHAI) recorded highest Rs 86.2 crore (US$ 12.33 million) daily toll collection on January 12th, 2020, according to its Chairman Mr Sukhbir Singh Sandhu.
 

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Housing ministry launched e-commerce platform for real estate sector
Housing ministry introduced an e-commerce platform to assist the homebuyers in identifying genuine properties.

This platform is built for those projects which have received occupancy certificates (OCs) and are expected to create a smooth, safe and transparent home-buying experience for home buyers. This is expected to create a positive sentiment for the real estate industry, enhancing the confidence and faith amongst home buyers, increasing liquidity flow in the industry and thus, contributing to growth of the economy.

The portal 'HousingForAll.Com', will aid the buyers in accessing best priced inventory by builders for a limited time to take full advantage of best pricing. The complete list information consisting of floor plans, room dimensions, video tours of units and external views looking out from windows / balconies will be available for buyers.
 
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fyodor

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I think that we in India think too small.

With so many protest in Hong Kong, the west is pi$$ed about China and they fuel protests to poke the Chicoms and hit one of their key economic center. This should be used as an opportunity by India to create its own international finance center with ultra liberal fin laws. They should mark a land near Goa, create a special provision that we make international businesses in this area tax free beyond a certain limit(high) and we welcome foreign banks and comanies to set up their bases here. Many major banks from West and SE Asia would like to use this opportunity if provided.

Also create the area socially liberal with relaxed booze laws. Foreign representative don't like working in a dry state. That's why I am pretty doubtful about GIFT city in a dry(alcohol and terrain wise) state like Gujarat with hot and dry climate and no natural beauty surrounding it. These small things create a huge difference. Although many rich politicians in India will be shocked to know that most of the world doesn't believe in the hocus pocus Gandhian idea of self imposed austerity.

I think the problem with Indians is that we believe that the world somehow "owes" it to us. All that Vishwaguru thing has taken a perverse tone in our mind. What we need to do is to give to the world and the world will pay back 100x times more. And the good news is that it doesn't take much to give to the world.

(cross posting from another forum)
 

ezsasa

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I think that we in India think too small.

With so many protest in Hong Kong, the west is pi$$ed about China and they fuel protests to poke the Chicoms and hit one of their key economic center. This should be used as an opportunity by India to create its own international finance center with ultra liberal fin laws. They should mark a land near Goa, create a special provision that we make international businesses in this area tax free beyond a certain limit(high) and we welcome foreign banks and comanies to set up their bases here. Many major banks from West and SE Asia would like to use this opportunity if provided.

I think the problem with Indians is that we believe that the world somehow "owes" it to us. All that Vishwaguru thing has taken a perverse tone in our mind. What we need to do is to give to the world and the world will pay back 100x times more. And the good news is that it doesn't take much to give to the world.

(cross posting from another forum)
That's why Modi wanted to build dholera city, an financial hub similar to HK & London.
 

Why so serious?

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All of the World’s Wealth in One Visualization

Published

1 day ago January 16, 2020
By

Jeff Desjardins



All of the World’s Wealth in One Visualization
The financial concept of wealth is broad, and it can take many forms.

While your wealth is most likely driven by the dollars in your bank account and the value of your stock portfolio and house, wealth also includes a number of smaller things as well, such as the old furniture in your garage or a painting on the wall.

From the macro perspective of a country, wealth is even more all-encompassing — it’s not just about the assets held by private households or businesses, but also those owned by the public. What is the value of a new toll bridge, or an aging nuclear power plant?

Today’s visualization comes to us from HowMuch.net, and it shows all of the world’s wealth in one place, sorted by country.

Total Wealth by Region
In 2019, total world wealth grew by $9.1 trillion to $360.6 trillion, which amounts to a 2.6% increase over the previous year.

Here’s how that divvies up between major global regions:

Region Total Wealth ($B, 2019) % Global Share
World
$360,603 100.0%
North America $114,607 31.8%
Europe $90,752 25.2%
Asia-Pacific $64,778 18.0%
China $63,827 17.7%
India $12,614 3.5%
Latin America $9,906 2.7%
Africa $4,119 1.1%
Last year, growth in global wealth exceeded that of the population, incrementally increasing wealth per adult to $70,850, a 1.2% bump and an all-time high.

That said, it’s worth mentioning that Credit Suisse, the authors of the Global Wealth Report 2019 and the source of all this data, notes that the 1.2% increase has not been adjusted for inflation.

Ranking Countries by Total Wealth
Which countries are the richest?

Let’s take a look at the 15 countries that hold the most wealth, according to Credit Suisse:

Rank Country Region Total Wealth ($B, 2019) % Global Share
Global Total
$360,603 100.0%
#1 United States North America $105,990 29.4%
#2 China China $63,827 17.7%
#3 Japan Asia-Pacific $24,992 6.9%
#4 Germany Europe $14,660 4.1%
#5 United Kingdom Europe $14,341 4.0%
#6 France Europe $13,729 3.8%
#7 India India $12,614 3.5%
#8 Italy Europe $11,358 3.1%
#9 Canada North America $8,573 2.4%
#10 Spain Europe $7,772 2.2%
#11 South Korea Asia-Pacific $7,302 2.0%
#12 Australia Asia-Pacific $7,202 2.0%
#13 Taiwan Asia-Pacific $4,062 1.1%
#14 Switzerland Europe $3,877 1.1%
#15 Netherlands Europe $3,719 1.0%
All Other Countries $56,585 15.7%
The 15 wealthiest nations combine for 84.3% of global wealth.

Leading the pack is the United States, which holds $106.0 trillion of the world’s wealth — equal to a 29.4% share of the global total. Interestingly, the United States economy makes up 23.9% of the size of the world economy in comparison.

Behind the U.S. is China, the only other country with a double-digit share of global wealth, equal to 17.7% of wealth or $63.8 trillion. As the country continues to build out its middle class, one estimate sees Chinese private wealth increasing by 119.5% over the next decade.

Impressively, the combined wealth of the U.S. and China is more than the next 13 countries in aggregate — and almost equal to half of the global wealth total.
 

Mikesingh

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That's good news! The bad news is that the GDP growth is heading toward the boondocks at <5%!!

So we all want a big bang budget! But what does 'big bang' imply? Prudence on the revenue expenditure front? Lowering of fuel, food and fertiliser subsidies? Enhancing capital expenditure for productive investments in sectors such as infrastructure? Encourage private investment? End to tax aggression and widening the tax base? Strategic disinvestments? Land and labor reforms?

Except for the above, I don't have a clue how we can get our economy going. @Haldiram may tell us what 'Big Bangs' to expect in the coming budget! :)
 

fire starter

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That's good news! The bad news is that the GDP growth is heading toward the boondocks at <5%!!

So we all want a big bang budget! But what does 'big bang' imply? Prudence on the revenue expenditure front? Lowering of fuel, food and fertiliser subsidies? Enhancing capital expenditure for productive investments in sectors such as infrastructure? Encourage private investment? End to tax aggression and widening the tax base? Strategic disinvestments? Land and labor reforms?

Except for the above, I don't gave a clue how we can get our economy going. @Haldiram may tell us what 'Big Bangs' to expect in the coming budget! :)
FDI is going up ,share market is going up but the economy is going down I am sure this recession is temporary and everyone knows economy will bounce back.
 

abhay rajput

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The Indian economy is expected to register a GDP growth of 5.7 per cent this fiscal, according to the newly launched UN World Economic Situation and Prospects (UNWESP) report 2020.
Yes it will be on track this year.
 

fire starter

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That's good news! The bad news is that the GDP growth is heading toward the boondocks at <5%!!

So we all want a big bang budget! But what does 'big bang' imply? Prudence on the revenue expenditure front? Lowering of fuel, food and fertiliser subsidies? Enhancing capital expenditure for productive investments in sectors such as infrastructure? Encourage private investment? End to tax aggression and widening the tax base? Strategic disinvestments? Land and labor reforms?

Except for the above, I don't have a clue how we can get our economy going. @Haldiram may tell us what 'Big Bangs' to expect in the coming budget! :)
https://m.economictimes.com/news/ec...m-to-pick-up-in-2020/articleshow/73309599.cms
it is latest report our economy will catch up in next fiscal. we will still be the fastest growing economy since China's growth rate will decline to 5.9% and moreover we are among the few nations in world where per capita income is growing above 4%.
 

fire starter

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The Indian economy is expected to register a GDP growth of 5.7 per cent this fiscal, according to the newly launched UN World Economic Situation and Prospects (UNWESP) report 2020.
Yes it will be on track this year.
this fiscal year will end in Sept . in next fiscal it will be 6.6 and from starting of 2021 it will be 6.3% quite confusing.
 

abhay rajput

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this fiscal year will end in Feb or march am I right. in next fiscal it will be 6.6 and from starting of 2021 it will be 6.3% quite confusing.
Yes you are right and I am also talking about 2020-2021. 2021 will not be 6.3 %. It will be 6.6 %
 

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