Indian Economy: News and Discussion

Lonewolf

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the unemployment survey and the consumer survey which showed that for the first time the decline of sales and the increase of unemployment was conveniently not released by the government because they knew the figures were bad why not just acknowledge that the downturn occurred and it has continued due to the pandemic
We are accepting it but level or extent are questions of debate .

Also reason for it and all .

You wanna hear it ,i say it , before pandemic our economy wasn't that good either , now do you want to discuss it or just this much
 

sauntheninja

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Stale argument from 2019 General Elections. Back then also this exact same line of attack was used by opposition. Kya hua? 2019 main har ke bhi akal thikane nahi ayi tumhari?
First of all i dont really treat political parties like football teams i just want what's best for india so in your view there never was a downturn?
 

sauntheninja

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We are accepting it but level or extent are questions of debate .

Also reason for it and all .

You wanna hear it ,i say it , before pandemic our economy wasn't that good either , now do you want to discuss it or just this much
The article does address it we haven't yet fixed the issues that caused the economic downturn in the first place npa are still rampant and are only exacerbated due to the pandemic there is still a liquidity crunch and the consumer sentiments are at a all time low
 

Lonewolf

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First of all i dont really treat political parties like football teams i just want what's best for india so in your view there never was a downturn?
It's not political party mate it's their policy , it is indeed low time for us , but long term plan are persuaded , road construction , dfc , economic corridor , industry plans and all
 

Lonewolf

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The article does address it we haven't yet fixed the issues that caused the economic downturn in the first place npa are still rampant and are only exacerbated due to the pandemic there is still a liquidity crunch and the consumer sentiments are at a all time low
Sorting out npa and default require time , yeah consume sentiment are low , first what causing npa , roadblock red taping and all which effect performance , should be looked upon
 

Okabe Rintarou

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First of all i dont really treat political parties like football teams i just want what's best for india so in your view there never was a downturn?
I don't treat data from dalals as proof of downturn. Jobs in real estate and construction fell? Really? As if the infrastructure growth is stagnant.
Downturn was there due to the NPA crisis. Nobody is saying that the NPA crisis is imaginary. But GoI took measures to address that NPA have started coming down now. Next time, when you want to start a discussion about economy, try to not fall for data peddled by dalals.
 

sauntheninja

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It's not political party mate it's their policy , it is indeed low time for us , but long term plan are persuaded , road construction , dfc , economic corridor , industry plans and all
the plans are encouraging but let's see how these are implemented
 

Lonewolf

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the plans are encouraging but let's see how these are implemented
You are frustrated dye to pandemic but see the green shoots , this low might be over after this second wave , a lot of companies are in plan of expansion , you will feel the heat of growth in 2023 , when seed of today will bear fruits
 

sauntheninja

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I don't treat data from dalals as proof of downturn. Jobs in real estate and construction fell? Really? As if the infrastructure growth is stagnant.
Downturn was there due to the NPA crisis. Nobody is saying that the NPA crisis is imaginary. But GoI took measures to address that NPA have started coming down now. Next time, when you want to start a discussion about economy, try to not fall for data peddled by dalals.
so the data that is published by newspapers or organizations that support the government is fine in your view because they align with your political views?
 

Okabe Rintarou

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so the data that is published by newspapers or organizations that support the government is fine in your view because they align with your political views?
Stop with the strawman argument. Which data did I quote? Stop talking like a piddi, will you? Unless you are a piddi.
Alright, let me ask you in return: So the data that is published by newspapers or organizations that oppose the government is fine in your view because they align with your political views?
 

FalconSlayers

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Hardware PLI: Govt cuts manufacturing target by half


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Even before it gets operationalised, the government has had to cut the output of its production-linked incentive (pli) scheme for IT hardware, which includes laptops, tablets, all-in-one PCs and servers, by half with manufacturers turning up with low bids. As a result, the utilisation of the outlay for the scheme will also come down by a similar quantum and export targets will take a big hit —from Rs 2.45 lakh crore over a four-year period announced earlier to a mere Rs 60,000 crore.

IT hardware manufacturers blame this on the low incentive structure which works out to an average of 2-2.5% over a four-year period which does not justify relocating units from China or Vietnam, especially for hardware products, where import duties are nil as they fall under IT products. The incentive structure for mobile phones PLI, which got operationalised in August 2020 and saw companies committing up to the maximum limit, works out to around 4.5% over a five-year period.

When the government had announced the IT hardware PLI scheme on February 24, the outlay was fixed at Rs 7,350 crore over a four-year period. During this period, the government had estimated a production of up to Rs 3.26 lakh crore, of which exports were expected to be of the order of Rs 2.45 lakh crore. Last week (May 4), when the government announced the names of the companies which have applied for the scheme, the production target was slashed to Rs 1.60 lakh crore of which exports would be of the order of Rs 60,000 crore. Since the incentive structure is based on achieving a minimum threshold of incremental sales over base year going up to a maximum limit, with companies committing lower production target only half the outlay of Rs 7,350 crore will get utilised.

Though 19 companies have submitted applications, the scheme will now make sense for only players which already have production capacity in India — Dell and HP, for instance. Here also it would be domestic sales which would be attractive for them rather than exporting which has been the main driving force for the government behind designing PLI schemes.

India’s import of laptops has increased by 42% –– from $2.97 billion to $4.21 billion –– in value terms, in the last five years. Around 87% of imports continues to come from China. In absolute terms, India’s dependency on China is very high –– it has increased from $2.83 billion to $3.65 billion during the last five years. For the year ending March 2021, India’s import of laptops is estimated to have reached close to $5 billion out of which imports from China would be around $4.35 billion.

As per estimates, the global market for laptops, tablets and desktop computers has grown from $229.38 billion in 2018 to $ 240.99 billion in 2019 and is expected to stabilize around $220 billion by 2025. Only six global players comprise 89% of the market shipments for laptops and 81% for tablets. The United States and European Union together represent more than 40% of the global market.

The global manufacturing hubs are limited to a handful of countries with China being the predominant supplier to the world 66% market share (2019); $100 billion in value).

Companies which have applied under category IT hardware are Dell, ICT (Wistron), Flextronics, Rising Stars Hi-Tech (Foxconn) and Lava. Fourteen companies have filed applications under the category domestic companies, which include Dixon, Infopower (JV of Sahasra and MiTAC), Bhagwati (Micromax), Syrma, Orbic, Neolync, Optiemus, Netweb, VVDN, Smile Electronics, Panache Digilife, HLBS, RDP Workstations and Coconics.

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No other news outlet reporting on this topic, so keep salt ready, but then again article is very thorough.

Also spit on whoever it was that signed the ITA 1996 agreement with WTO, which is why Laptops and other computer maal here is imported at 0% duty.
Gormint paradigm is baiting manufacturers with "Large domestic market" and then getting them to export.
Now here they can just import at 0% duty thanks to (((free trade))) so that door is closed at the start.

Computer manufacturing is a billion dollar opportunity that will go to Vietnam now, as it is people making a beeline to that country, not to mention the shills in media peddling negative image of India as investment destination with corona doom and gloom
I am telling you Modi and BJP were the biggest snakes, these snakes are just removing their skin in 2021.
now all the manufacturing will go to ASEAN and their GDPs will grow not ours.

Passing it on as leftist propaganda won’t help. Accept it, we’re doomed.


“5 Trillion economy mitroooon...!!! 5 Trillion economy!!!”
1621010749786.jpeg
 

sauntheninja

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Stop with the strawman argument. Which data did I quote? Stop talking like a piddi, will you? Unless you are a piddi.
Alright, let me ask you in return: So the data that is published by newspapers or organizations that oppose the government is fine in your view because they align with your political views?
That's why we need an independent body that regardless of the government in power can release data.
 

not so dravidian

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I don't treat data from dalals as proof of downturn. Jobs in real estate and construction fell? Really? As if the infrastructure growth is stagnant.
Downturn was there due to the NPA crisis. Nobody is saying that the NPA crisis is imaginary. But GoI took measures to address that NPA have started coming down now. Next time, when you want to start a discussion about economy, try to not fall for data peddled by dalals.
What is NPA crisis???
Cud someone explain plzz
 

Suryavanshi

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I can site various Reasons for the downfall in no.
The no went from 57 to 23 that's almost half, a significant figure.
It's not a big matter if unemployment rate increase we have a big population that is to be expected but when we lose whatever Job's we have than it's a concern.

Maybe the Jobs migrated from Industrial to Services?
But that should just mean migration of few Million. Usually the Jobs in service sector increase faster than industrial sector but this in no way means job loss in Industrial sector.

Maybe the Corona period did to massive impact on the industrial sector as most MSMEs were hit hard.
 

SKC

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I am telling you Modi and BJP were the biggest snakes, these snakes are just removing their skin in 2021.
now all the manufacturing will go to ASEAN and their GDPs will grow not ours.


Passing it on as leftist propaganda won’t help. Accept it, we’re doomed.


“5 Trillion economy mitroooon...!!! 5 Trillion economy!!!”
View attachment 89788
 

Okabe Rintarou

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I can site various Reasons for the downfall in no.
The no went from 57 to 23 that's almost half, a significant figure.
It's not a big matter if unemployment rate increase we have a big population that is to be expected but when we lose whatever Job's we have than it's a concern.

Maybe the Jobs migrated from Industrial to Services?
But that should just mean migration of few Million. Usually the Jobs in service sector increase faster than industrial sector but this in no way means job loss in Industrial sector.

Maybe the Corona period did to massive impact on the industrial sector as most MSMEs were hit hard.
Arre bhai kisne kaha yeh sab? From where did this figure come?


What is NPA crisis???
Cud someone explain plzz
Google it dude. Here: https://www.civilsdaily.com/news/finance-commission-and-bank-recapitalisation/


That's why we need an independent body that regardless of the government in power can release data.
How do you ensure that people with vested interest will not infiltrate the "independent body". Like your beloved "CMIE"?
And who says data is not being released by government. Here is your data:- http://mospi.nic.in/sites/default/f...s/PLFS_Quarterly_Bulletin_April_June_2020.pdf
 

shade

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I am telling you Modi and BJP were the biggest snakes, these snakes are just removing their skin in 2021.
now all the manufacturing will go to ASEAN and their GDPs will grow not ours.
Manufacturing is already going to Vietnam, and Laptop, Servers and all overwhelmingly made in China currently, if this PLI was successful it would atleast stop fully assembled and boxed laptops and servers from being imported here, with local assembly happening and possibility of components being sourced from local companies.
But for that they would have to deal with that ITA-1 clusterfuck first which prevents duties on these items.
They are trying a workaround where supposedly they are holding up imports of boxed laptops because their made in china WiFi modules are not certified by an Indian authority, ofc this is a "gentle nudge" to get them to start assembly lines here.
 

Okabe Rintarou

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@sauntheninja @Bhumihar @FalconSlayers etc whoever is blindly believing that CMIE's data that:-
Indians employed in manufacturing in 2016-17 were 57 Million
Indians employed in manufacturing in 2017-2020 were ~40 Million
Indians employed in manufacturing in 2020-21 were 27.3 Million

Here is the Manufacturing PMI data for India:-
https://tradingeconomics.com/india/manufacturing-pmi
Its consistently above 50 (barring two minor dips pre-Covid and one major dip due to Covid). Can anyone care to tell me how PMI manages to stay above 50 and yet the number of Indians employed in manufacturing drops by 17 Million pre-Covid?
And look at the PMI since September last year. Consistently above 55. Clear signs of recovery post-Covid.
 

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