Indian Economy: News and Discussion

[LondonParisTokyo]

Chaloo bhaiyoon , Ghaas khao ab or majey karo , jumla party ke jumlay .Ye to shurwaat hai aagay aagay dekho hota hai kya.

The point is simple dude. Deregulation helps the farmer. They can set the price they want to sell it. Leftists such as yourself "Want your cake and to eat it too". You cannot have it both ways

 

[ezsasa]

Chaloo bhaiyoon , Ghaas khao ab or majey karo , jumla party ke jumlay .Ye to shurwaat hai aagay aagay dekho hota hai kya.

You do realise that a society can have more than one type of aspirations and expectations.

Inspite of me being a socialist, I do believe in free market economy for India at the same time support PSUs in a few strategic sectors. This is my personal well thought out position I have arrived at after almost four years of thinking. Not because somebody told me to. in those four years i never imposed by half baked thoughts on this topic on others.

Similarly it just so happens that here at DFI, most of the members prefer free market economy.

If you want to share knowledge please do, but without trolling.

 

[indus]

Govt has enough aces up its sleeves. Today many states including capital Delhi are eating buffer stock of onions purchased earlier this year. And the quantity is about 1 Lakh MT. The quantity is sufficient to maintain healthy prices in the market and prevent spikes the way it happened last year. Removing it from essential commodities act harms in no way.

 

[Haldilal]

Ya'll Nibbiars I will tell you a simple story TATA OiL Mills owned Moti and Hamam like brands. At that times they were sold for 50 paisa or like that. But the cost of the soap remains that for many years. Why?

The answer is simple price control. Even if the other cost of manufacturing increased. The pricing remained same. Even if you had to sell it at loss. No choice that is a control economy.

 

[avknight1408]

Govt has enough aces up its sleeves. Today many states including capital Delhi are eating buffer stock of onions purchased earlier this year. And the quantity is about 1 Lakh MT. The quantity is sufficient to maintain healthy prices in the market and prevent spikes the way it happened last year. Removing it from essential commodities act harms in no way.

Last year Government had buffer stock of 56000 tonnes yet there was onion crisis. This year they had planned to increase buffer to 1 lakh tonnes but it won't be enough I guess.
https://economictimes.indiatimes.co...ock-in-2020/articleshow/73029315.cms?from=mdr


Crazy thing I heard is last year govt panicked and imported onions from Egypt and turkey. But the onions didn't find many takers because they didn't taste good it seems. Don't know what MMTC did with those onions.

 

[indus]

Last year Government had buffer stock of 56000 tonnes yet there was onion crisis. This year they had planned to increase buffer to 1 lakh tonnes but it won't be enough I guess.
https://economictimes.indiatimes.co...ock-in-2020/articleshow/73029315.cms?from=mdr


Crazy thing I heard is last year govt panicked and imported onions from Egypt and turkey. But the onions didn't find many takers because they didn't taste good it seems. Don't know what MMTC did with those onions.

Yes, in a kneejerk response, since delhi elections were around and media was in overdrive, Govt imported onions from turkey and Egypt. Some quantity was sold in the market, but later on there were no takers. Even the state Govts declined to offtake the stock from mmtc because their taste and pungency is not as much as our Indian variety. The last remaining stock went rotten and was sold at 10 paise per kg.

 

[ezsasa]

Looks like this has gone under the radar because there was no noise in the parliament.

Parliament passes three Labour bills: Here are the key changes

 

[Haldilal]

Ya'll Nibbiars

To return to steady growth: India’s monetary and fiscal authorities both need to lend stronger shoulders to the economy

According to estimates recently released by the ministry of statistics and programme implementation, the GDP of India fell by 23.9% in April-June quarter of 2020 relative to that in the same quarter in 2019. The...

timesofindia.indiatimes.com

 

[Rxbanda]

Ya'll Nibbiars Bharat Heavy Electricals Limited (BHEL) has successfully built & commissioned the world's largest lift irrigation project: Kaleshwaram Lift Irrigation Scheme (LIS) in Telangana. This will help in irrigation, industrial water uses, drinking water & power generation in the state.

View attachment 59406

One of the best projects/achievements of KCR. Solved the water problem to great extent in Telangana.
Afaik, totally funded by state govt. with no financial support from center.

 

[sorcerer]

India in process of finalising FTA with Mauritius: Goyal

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www.outlookindia.com

 

[ezsasa]

One more reform done: Major Port Authorities Bill. It provides autonomy to each port authority so that it can made decentralised decisions and thinks of itself as a "developer" rather than a govt department. Most major global ports are run like this.

 

[avknight1408]

One more reform done: Major Port Authorities Bill. It provides autonomy to each port authority so that it can made decentralised decisions and thinks of itself as a "developer" rather than a govt department. Most major global ports are run like this.

Long pending reform! Time to replicate Ennore Port. It is the first major port to be setup as a PSU. All its terminals are operated by private players. The port has less than 100 direct employees and all are officers so no unions to blackmail government. All major ports should follow similar landlord port model
https://www.businesstoday.in/story/...ajar-port-sanjay-kumar-strength/1/221079.html

 

[Suryavanshi]

One more reform done: Major Port Authorities Bill. It provides autonomy to each port authority so that it can made decentralised decisions and thinks of itself as a "developer" rather than a govt department. Most major global ports are run like this.

this will also help break up union culture.

 

[Knowitall]

this will also help break up union culture.

The latest labour reforms passed have made it almost impossible for unions to hold stikes and gives the employer the power to hire and fire.

Great reforms overall this should now be followed by land reforms.

 

[Dessert Storm]

One more reform done: Major Port Authorities Bill. It provides autonomy to each port authority so that it can made decentralised decisions and thinks of itself as a "developer" rather than a govt department. Most major global ports are run like this.

Just wait for the RS majority (near majority) by November. This is just the beginning.

 

[shade]

GoI just needs a national surveillance program now to nip attempts at paid protests and pre-planned riots in the bud

 

[Dessert Storm]

The latest labour reforms passed have made it almost impossible for unions to hold stikes and gives the employer the power to hire and fire.

Great reforms overall this should now be followed by land reforms.

Even contract or temp workers to be given appointment letters, e-payments, regular health checkups in hazardous materials industry, just to name a few benefits.

 

[Dessert Storm]

GoI just needs a national surveillance program now to nip attempts at paid protests and pre-planned riots in the bud

Hmmmm...... what you are implying is cause-effect. FCRA Amendment is a good step. What makes you think that NSA ain't smart enough to spot the obvious?

 

[ezsasa]

GoI just needs a national surveillance program now to nip attempts at paid protests and pre-planned riots in the bud

Protests are not the issue, riots are.

 

[Hiranyaksha]

There is a pertinent risk towards farmers with all of these reforms . Govt now is not going to buy the farm produce but it will still gonna regulate export or inter state trade of the agri produce - to appease voters during elections by curbing price inflations - hence hurting export orders and chances of farmers able to grab lucrative prices .

This one lopsided regulation will hurt farmers. If govt ensures that they will not use these consumer appeasement during elections then I think it will be fine.