Indian Economy: News and Discussion

[SKC]

The biggest evil is not mentioned corruption during license raj , every company was fucked , our economy turned bankrupt

Ya man, You needed a License to even own a Radio and TV legally. Till late 80s, If you did not have a license then Govt could legally penalize you (though rarely done).

 

[sauntheninja]

Ya man, You needed a License to even own a Radio and TV legally. Till late 80s, If you did not have a license then Govt could legally penalize you (though rarely done).

People who romanticize that era were privileged the per capita income during that time was like 400$ for an average Indian

 

[Crazywithmath]

Semiconductor assembly majors plan to set up manufacturing units in India

If the current talks with the ATMP big boys fructify, it will be a major step for the country.

wap.business-standard.com

 

[Crazywithmath]

Check out this thread. This might prove out to be a real game changer in urban mobility sector in India. If successful, can be replicated in other similar cities, like - Mumbai, Kolkata, Chennai etc with large commuter (sub urban) railway networks.

 

[Lonewolf]

100 of millions comes from modi ji own source. Why do you think food is being provided free of cost till November.

You nlknow about poverty in crisis Don't you, this is too volatile , during economy rebound ,it will go away too

 

[Lonewolf]

Semiconductor assembly majors plan to set up manufacturing units in India

If the current talks with the ATMP big boys fructify, it will be a major step for the country.

wap.business-standard.com

Samsung display fab

 

[sauntheninja]

You nlknow about poverty in crisis Don't you, this is too volatile , during economy rebound ,it will go away too

Lock downs hurt these people the most suddenly millions of people are out of jobs and have to rush to go their home towns

 

[Lonewolf]

Lock downs hurt these people the most suddenly millions of people are out of jobs and have to rush to go their home towns

That's why ,when economy unlocks and those fsctories and job provider aren't affected much tries to crrate jobs for poor , poverty in that area reduce again , it would be devastating if our true middle class with yearly income per family above 10 lac get affected a lot , that's not the case much .


It's not worthy to get sad on these news @t 90s we are in mid of crisis

 

[Leonardo Alves]

Yes i have been , s**ty like before.

Yes and I too have been, it is beautiful now, with more seats and sheds added where toy train stops, really dude you are now sounding suspicious, I have taken photos too want me to show? And I have seen other stations too.

It is the most beautiful station in India I ever saw by the way I asked about KALKA station.

 

[t 90s]

Yes and I too have been, it is beautiful now, with more seats and sheds added where toy train stops, really dude you are now sounding suspicious, I have taken photos too want me to show? And I have seen other stations too.

It is the most beautiful station in India I ever saw by the way I asked about KALKA station.

bhai i have spend my life there. I have travel in that train 100 times. there is filth everywhere. shimla is a filthy city. It's all good in pictures only.

 

[Leonardo Alves]

bhai i have spend my life there. I have travel in that train 100 times. there is filth everywhere. shimla is a filthy city. It's all good in pictures only.

You are talking about himachal that changes government every time, so it's your problem.

I am talking about Modi work and it's visual impact, railway stations come under central, I can show you clean images of KALKA, you leaved in Shimla never went to kalka? The thing is stations have changed, it's the state government responsibility to look out for shimla.

Every established city in India is growing ofcourse by people participation and you will see lethargy when civil department sleeps.

You want growth from people or from government? Government one is Chongs and private one is your shimla thing leaving civil department aside.

 

[Haldilal]

Ya'll Nibbiars sometimes I think this is the Same Indira Gandhi Sarkar 2.0. Rich gest tax benefits and Inecatives, the Poor get Free schemes and the Middle class gets the Additional Taxation's. The general category people living in a 50% reservation regime. The middle class tax payers living in a 0% agriculture tax regime. It's not just the rich who are exploiting the system. The poor are also experts in exploiting the system to get perpetual loan waivers. Middle class walon ko koi separate country bana ke de do fir saare communist aur capitalist ladte rehna.

Waise dekha jaye toh if you categorize poor as someone who has no land or business ownership to his name, then many urban folks who live in rented houses will fall under that category, and many farmers who call themselves poor still have vast tracts of land. This situation is a result of leftist economists having an iron grip over the narrative of the nation since independence. They have caricatured a faux narrative of 'ultra poor farmer' vs 'ultra rich industrialist', beechme middle class ki representation kidhar hai iss narrative me? dono side se to wahi ghiss raha hai. The middle class sustains the farmers by purchasing his produce. The middle class works off to keep the industries running, but when a bad monsoon hits, the farmer armtwists the government to siphon the exchequer's money. When a recession hits, the industrialist blames the middle class for not being productive enough and lays off employees in bulk. The subsidy structure has become unsustainable for the middle class to fund. Already a commoner pays 30% tax on whatever he earns, on top of that he has to pay 20% GST when hebuys anything from whatever money is left. The farmer gets crop insurance and loan waiver. Does the private employee get 'job insurance'? Pink slip milte hi direct raaste pa aa jata hai insaan. The commoner has become the punchin.

 

[ezsasa]

Can anyone with knowledge let me know ,
1. How is our banking sector performing?
2. What about the resulting credit crunch that held back the economy from the usual 7-8% growth track since late 2018?
3. Will the proposed privatisation of Bank of Maharashtra, Punjab and Sindh Bank, Central Bank, IDBI etc help?
4. Will the setting up of bad banks help?
We need a robust 15% credit growth rate to maintain high growth. Banking sector is crucial. NDA govt has had its fair share of time. It should start cleaning up UPA's NPA mess now. Else the dream of high growth will remain unrealised.

Indian banks are sitting on surplus cash because of demonetisation & subsequent change in laws.

MSM narrative of doom and gloom during NPA “crisis” is overblown. majority of the NPA’s were from UPA era loans, contrary to what MSM projected at that time, NPA was for projects not companies. Companies did not go bankrupt they were just fine, their projects(majority of them housing sector & power sector) were the ones that hit bankrupt. those projects were already bankrupt, only things Modi govt did was to officially recognising them as bankrupt.

after IBC & RERA, things started sorting itself out. there is one more scheme where stalled residential projects construction is taken over by govt, this will unlock around 2 lakh residential units.

In my view Our growth not going double digit is not because of govt policies, but rather companies not innovating new products both at consumer goods and industrial goods level. Indian companies do not have the risk appetite.

let me know if I missed anything.

 

[t 90s]

You are talking about himachal that changes government every time, so it's your problem.

I am talking about Modi work and it's visual impact, railway stations come under central, I can show you clean images of KALKA, you leaved in Shimla never went to kalka? The thing is stations have changed, it's the state government responsibility to look out for shimla.

Every established city in India is growing ofcourse by people participation and you will see lethargy when civil department sleeps.

You want growth from people or from government? Government one is Chongs and private one is your shimla thing leaving civil department aside.

I have a house in Shimla. I have been to kalka more than 100 times. Kalka is a small town mostly rich people have House's there & also due to military presence ( a radar station to look over west ) it is little bit clean. I was talking about Shimla in general.

 

[Haldilal]

Ya'll Nibbiars Somewhere even the government knows, pursuing too much efficiency leads to other political troubles, so incompetence is tolerated as a necessary evil this translates in simpleton parlance as "agriculture creates a lot of jobs". It is because of deft narrative management by the government that the middle class has been kept under an anesthesia. All of the media spectacle, FDI reports, jingoism, keep the aspirational middle class's attention occupied with the news cycle and away from the thorny bed he is sleeping on.

The ultra poor perpetually threaten the nation with a communist revolution. The ultra rich arm twist the nation by threatening to take their capital away to foreign safe havens. The middle class has no weapon. And sustains the poor person's family, in addition to keeping the rich person's industries running and gets cursed by both sides.

Middle class brinkmanship pe utar aaya toh sabki hawa nikal jayegi.

 

[sauntheninja]

Ya'll Nibbiars Somewhere even the government knows, pursuing too much efficiency leads to other political troubles, so incompetence is tolerated as a necessary evil this translates in simpleton parlance as "agriculture creates a lot of jobs". It is because of deft narrative management by the government that the middle class has been kept under an anesthesia. All of the media spectacle, FDI reports, jingoism, keep the aspirational middle class's attention occupied with the news cycle and away from the thorny bed he is sleeping on.

The ultra poor perpetually threaten the nation with a communist revolution. The ultra rich arm twist the nation by threatening to take their capital away to foreign safe havens. The middle class has no weapon. And sustains the poor person's family, in addition to keeping the rich person's industries running and gets cursed by both sides.

Middle class brinkmanship pe utar aaya toh sabki hawa nikal jayegi.

The whole SSR conspiracy was just that a way to keep the middle class occupied while the economy plunged hard the only way to tackle this is by creating jobs in the manfacturing sector so that that the power of the various farmer union gets less now because more than 50% of the country is employed in the agriculture sector they have a lot of power and any government will bend over backwards for them to get votes

 

[Haldilal]

The whole SSR conspiracy was just that a way to keep the middle class occupied while the economy plunged hard the only way to tackle this is by creating jobs in the manfacturing sector so that that the power of the various farmer union gets less now because more than 50% of the country is employed in the agriculture sector they have a lot of power and any government will bend over backwards for them to get votes

Ya'll Nibbiars The % of direct tax payers in India is an abysmal single digit number. The middle class is bearing the burden of the poor while the poor don't feel obligated. And the "poor" are poor only on paper. The middle class ends up paying because TDS gets deducted compulsorily. Starting IT salaries in mass recruiting companies are ~3.5L, roughly 30k/pm. This is "middle class" and ends up paying tax. And a maid who charges 1.5k/pm and works in 10-15 households earns all her money in cash so she is "poor". The "poor" maid's children get free subsidized education, and roam around with Pulsars and iPhones while the middle class person is stuck in education loans and home loans. The "poor" maid squats on public land and demands regularization of slums and gets a free home in slum-rehabilitation scheme. The middle class person is charged on a "per square feet" basis. Never heard them complain about this injustice which is in their favor. If they are going to be taxed more, let them pay more, or they can choose not to buy things that are not necessary.

The "poor" farmers get 100% tax waiver, on top of that they get farming subsidy, on top of that, if there is bad yield, they get loan bailouts, and these assholes, when the urban middle class requests for a 2 rupee reduction in milk rates, do this Spilling Milk on the Road. We are a socialist country in letter and spirit. Criticizing the poor is not fashionable. Poor people are chors. They have the money, they just know how to evade taxes to remain "poor". Modi has rightly taunted after Jan Dhan success "Bharat ke gareebon ki ameeri toh dekho humne toh 0 balance account khulwaya tha, par desh ke gareebon ne thousand crores deposit kar diye". Middle class was a minority until now. India is going to pull 400 million people into the new middle class. All of them are going to say the same thing. Being "poor" will no longer be fashionable. It just means the person is not producing any value for society.

 

[sauntheninja]

Ya'll Nibbiars The % of direct tax payers in India is an abysmal single digit number. The middle class is bearing the burden of the poor while the poor don't feel obligated. And the "poor" are poor only on paper. The middle class ends up paying because TDS gets deducted compulsorily. Starting IT salaries in mass recruiting companies are ~3.5L, roughly 30k/pm. This is "middle class" and ends up paying tax. And a maid who charges 1.5k/pm and works in 10-15 households earns all her money in cash so she is "poor". The "poor" maid's children get free subsidized education, and roam around with Pulsars and iPhones while the middle class person is stuck in education loans and home loans. The "poor" maid squats on public land and demands regularization of slums and gets a free home in slum-rehabilitation scheme. The middle class person is charged on a "per square feet" basis. Never heard them complain about this injustice which is in their favor. If they are going to be taxed more, let them pay more, or they can choose not to buy things that are not necessary.

The "poor" farmers get 100% tax waiver, on top of that they get farming subsidy, on top of that, if there is bad yield, they get loan bailouts, and these assholes, when the urban middle class requests for a 2 rupee reduction in milk rates, do this Spilling Milk on the Road. We are a socialist country in letter and spirit. Criticizing the poor is not fashionable. Poor people are chors. They have the money, they just know how to evade taxes to remain "poor". Modi has rightly taunted after Jan Dhan success "Bharat ke gareebon ki ameeri toh dekho humne toh 0 balance account khulwaya tha, par desh ke gareebon ne thousand crores deposit kar diye". Middle class was a minority until now. India is going to pull 400 million people into the new middle class. All of them are going to say the same thing. Being "poor" will no longer be fashionable. It just means the person is not producing any value for society.

This is a huge problem in Mumbai the areas that can become prime real estate which will help ease the burden in the city or can become commerical properties which will give tax to the government are instead slums and these free loaders can live easily in these cities while the middle class has to work for 30-40 years before they can even think of buying a house in Mumbai

 

[Leonardo Alves]

I have a house in Shimla. I have been to kalka more than 100 times. Kalka is a small town mostly rich people have House's there & also due to military presence ( a radar station to look over west ) it is little bit clean. I was talking about Shimla in general.

Kalka is like any other town, on roadsides you will see tall buildings with restaurants opened at the bottom and yes ofcourse those areas are less clean than pinjore Residencial area that is downtown to kalka.

That is the story of every market place, of course every morning dirts are always lined for collection.

So, I can understand market places can't be allowed to be unhygienic, if you are talking about residential area, I gave you example of nobody town like pinjore, I have leaved there it was clean.

Neat little streets and ofcourse tankers on the prowl.

 

[ezsasa]

This is a huge problem in Mumbai the areas that can become prime real estate which will help ease the burden in the city or can become commerical properties which will give tax to the government are instead slums and these free loaders can live easily in these cities while the middle class has to work for 30-40 years before they can even think of buying a house in Mumbai

if you remove “slums” from Mumbai, there will not be workers to service the middle class and the rich.

the scenario you are describing is what already happened in California, cost of living got ridiculously high for low income people that now companies are simply moving out of California.

Apparently there is two weeks waitlist to get a electrician appointment in Berlin. three weeks waitlist to get a doctors appointment in Netherlands. all these are symptoms caused by lack of low salary workforce, created by supply demand mismatch.

in my view, low cost living has to be available within the city for city to survive for a longer period.