Indian Economy: News and Discussion

[Haldilal]

Nation building mein 15-20 saal matter nahi karte its a process of multiple decades and centuries seems like the sooner we acknowledge this truth the better for everyone.

Ya'll Nibbiars what national building with current PM who is taking back the progressive reforms only due to the Andolan jeevis. We are losing time.

 

[asaffronladoftherisingsun]

Ya'll Nibbiars what national building with current PM who is taking back the progressive reforms only due to the Andolan jeevis. We are losing time.

Subah Subah tum hum logon ko neem karele ka juice kyu paros rahe ho.

 

[Haldilal]

Subah Subah tum hum logon ko neem karele ka juice ky paros rahe ho.

Ya'll Nibbiars Andolan Jeevis.

 

[Knowitall]

Declare all trade unions as terrorist organisation. In our Uttarkhand there was Coal? mine and trade union walas thought there is gold in there and the Management warned do not ever dig the support columns but chutiya did not listen and started mining the support beams within mine and the mine collapsed and coomer died and now the mine is perma shut and villagers lost employment.

Trade unions are too influential to be even touched much less be declared terror organization's in India.

Realistically BJP should have started with land and labour reforms but both were blocked and withdrawn from the parliament so most reforms have pretty much stopped.

To make matters worse Tai continues to burden the consumers class with enormous amount of tax to show her muh "gst rise" which ends up effecting consumer spending.

 

[Coalmine]

Trade unions are too influential to be even touched much less be declared terror organization's in India.

Realistically BJP should have started with land and labour reforms but both were blocked and withdrawn from the parliament so most reforms have pretty much stopped.

To make matters worse Tai continues to burden the consumers class with enormous amount of tax to show her muh "gst rise" which ends up effecting consumer spending.

Labour unions have no or very less power now. All are old. It will be helpful if bjp increases youth engagement. They are losing interest from bjp

 

[Haldilal]

You forgot the most damaging UPA legacy of banking sector/ NPA collapse and the subsequent credit growth apocalypse.
And Ind did not have GST in place then; nor was the GOI spending on infrastructure or seriously getting into manufacturing. Only signed a few ( disastrous ) FTAs and patted themselves on the back for high service sector growth. I remember Chiddi saying that India would keep growing ( LOL! ) on the back of service and consumption only or something like that.

Ya'll Nibbiars I said evsnts not reasons.

 

[sauntheninja]

Nation building mein 15-20 saal matter nahi karte its a process of multiple decades and centuries seems like the sooner we acknowledge this truth the better for everyone.

Demographic dividend is a thing we will never have more favorable demographics than now

 

[Shuturmurg]

Demographic dividend is a thing we will never have more favorable demographics than now

We just hit replacement fertlity this year, which china hit in 1991. So we will have 30 more years before population decline if we follow china's trajectory.

 

[Crazywithmath]

Ya'll Nibbiars get the labour reforms or be stuck in the 6 to 8 percent growth rate forever.

If you are talking about the 4 labour codes then rest assured it will be implemented once elections are done and even Congress ruled states have finalized draft codes. Now if you are hinting towards a more aggressive unified labour code then that is a different matter.

 

[another_armchair]

It's a pure government shitfuckery- a legalised robbery in the name of AGR dues and it has affected everyone including the consumers- price hike within the last year itself. And it's also an indicator of what happens when you hound your bureaucrats in the name of botched up audits and thru CBI/IT/ED raids- Telecom department developed cold feet after 2G scam arrests.
Thanks to the higher level of consolidation and deep pockets of Jio and Airtel from their other businesses that they could survive- otherwise we would have been witnessing bloodbath the telecom companies and employment in that sector if the market were as fragmented as earlier-hutch, tata telecom, idea, Airtel, reliance telecommunication etc. Otherwise, it's a pure tax terrorism

https://economictimes.indiatimes.co...-of-levies-on-telcos/articleshow/87263333.cms

This has brought in a lot of clarity on the computation of 'Adjusted Gross Revenue' related to the telecom sector but if you look at their sources of income, will you still say the Govt. was entirely wrong in defining AGR given the revenue model/sources of revenue of Telecom companies during the last two decades?

The figure ballooned to over Rs. 1 lakh crore because it included penalties and interest.

I had a T-24(Tata Docomo/Tata Teleservices) connection from Big Bazaar which used to get automatically recharged each time I made a purchase at Big Bazaar. It was a very reliable 2G connection and my Mom used it over the years. I shifted home and stopped shopping from Big Bazaar so started recharging it online. I started recharging it at Rs. 49 online. All was fine till Airtel bought over Tata Docomo in 2017 and the tariff went up from Rs. 49 a month to Rs.79 the next month... and rose in multiples there of. The current recharge tariff is Rs. 179, unlimited calling with 2GB of data.

Airtel has played the same predatory role as any other big fish but has managed to avoid public glare. All the love is reserved for the Ambanis only.

At its peak, I paid almost 750 rupees to Vodafone for 1GB of 4G data with absolutely fuckall call and data quality. It eventually dropped to Rs. 570-580 before I finally ported to Jio last year. The promoters, CEO's etc have all had their fat bonuses and pay checks.

Here is Airtel's P&L over the last 10 years.

Should 2G remain as a fallback alternative for those who do not need data? Maybe yes but last heard, BSNL surrendered its 2G spectrum in 2021... that leaves few players in the segment if none.. besides, 2G and 3G will be phased out in a decade or so. It is the way Govt's and corporates work in tandem.

 

[Covfefe]

https://economictimes.indiatimes.co...-of-levies-on-telcos/articleshow/87263333.cms

This has brought in a lot of clarity on the computation of 'Adjusted Gross Revenue' related to the telecom sector but if you look at their sources of income, will you still say the Govt. was entirely wrong in defining AGR given the revenue model/sources of revenue of Telecom companies during the last two decades?

The figure ballooned to over Rs. 1 lakh crore because it included penalties and interest.

I had a T-24(Tata Docomo/Tata Teleservices) connection from Big Bazaar which used to get automatically recharged each time I made a purchase at Big Bazaar. It was a very reliable 2G connection and my Mom used it over the years. I shifted home and stopped shopping from Big Bazaar so started recharging it online. I started recharging it at Rs. 49 online. All was fine till Airtel bought over Tata Docomo in 2017 and the tariff went up from Rs. 49 a month to Rs.79 the next month... and rose in multiples there of. The current recharge tariff is Rs. 179, unlimited calling with 2GB of data.

Airtel has played the same predatory role as any other big fish but has managed to avoid public glare. All the love is reserved for the Ambanis only.

At its peak, I paid almost 750 rupees to Vodafone for 1GB of 4G data with absolutely fuckall call and data quality. It eventually dropped to Rs. 570-580 before I finally ported to Jio last year. The promoters, CEO's etc have all had their fat bonuses and pay checks.

Here is Airtel's P&L over the last 10 years.

View attachment 133191

Should 2G remain as a fallback alternative for those who do not need data? Maybe yes but last heard, BSNL surrendered its 2G spectrum in 2021... that leaves few players in the segment if none.. besides, 2G and 3G will be phased out in a decade or so. It is the way Govt's and corporates work in tandem.

Change in AGR definition is too late, and shows the intent to use a faulty legislation to extract maximum revenue. The fact that even SC kept mum on this unfair practice was even more surprising. Questions have also been raised for the rates at which the spectrum were allocated in bids- Government created an artificial scarcity, sold it at an exorbitant price and then unilaterally imposed a 'usage fee' as a percentage of revenues that had nothing to do with telecom business. It was all in bad faith from the side of government (mostly the scared Babus and netas so as not to look to show any accomodating stance to the businesses).

And as far as monopolistic behaviour of Airtel and crappy services of VI are concerned, there should have been some correction with the entry of Jio. And investors and promoters always make the money- they wouldn't stay invested if they didn't. Anyway, Government's coercive policies were in no way related to correcting their predatory or bad market practices- they were just indicative of what the government was all about.

 

[another_armchair]

Change in AGR definition is too late, and shows the intent to use a faulty legislation to extract maximum revenue. The fact that even SC kept mum on this unfair practice was even more surprising. Questions have also been raised for the rates at which the spectrum were allocated in bids- Government created an artificial scarcity, sold it at an exorbitant price and then unilaterally imposed a 'usage fee' as a percentage of revenues that had nothing to do with telecom business. It was all in bad faith from the side of government (mostly the scared Babus and netas so as not to look to show any accomodating stance to the businesses).

And as far as monopolistic behaviour of Airtel and crappy services of VI are concerned, there should have been some correction with the entry of Jio. And investors and promoters always make the money- they wouldn't stay invested if they didn't. Anyway, Government's coercive policies were in no way related to correcting their predatory or bad market practices- they were just indicative of what the government was all about.

LOL... then what would you call this.. ?

Non-telcos to file review against AGR ruling: Solicitor General

Legal experts said though none of the PSUs were party to the case, which was fought between the Department of Telecommunications (DoT) and telecom companies, they could file review petitions since they were affected by a wider interpretation of the ruling.

economictimes.indiatimes.com

 

[Covfefe]

LOL... then what would you call this.. ?

Non-telcos to file review against AGR ruling: Solicitor General

Legal experts said though none of the PSUs were party to the case, which was fought between the Department of Telecommunications (DoT) and telecom companies, they could file review petitions since they were affected by a wider interpretation of the ruling.

economictimes.indiatimes.com

Some more pussyfooting and saving its own ass in the name of court orders, by the government?

First the DoT imposes a stupid rule,
Then they defend the stupid rule in the Court
Then the Court gives a <no contempt case against me> judgement
Then Govt realises that their own PSUs too get affected- a provision they argued in the court to be a part of the 'finer print' of the contract
And now, the Govt files for a review petition against the judgement that supposedly came in their favour?
And all this happening while the excruciating clock of interest and penalty on AGR dues is running?
Like I said- Congi Corruption, Terrified Babudom, Incompetent jurisprudence, Cuckold BJP- too little too late firefighting. The decent thing should have been to withdraw the petition and settle the dispute- Government has been fighting for the money which it never should have earned

 

[Haldilal]

Ya'll Nibbiars 20,000 crore Invetsment is going to be made in the Navi Mumbai Jewellery Park.

India Jewellery Park to be set up in Mumbai, aims to attract Rs 20,000 crore investment

The Gem & Jewellery Export Promotion Council and Maharashtra Industrial Development Corporation have signed a draft agreement granting possession of a plot for setting up the park.

theprint.in

 

[Knowitall]

Demographics and agriculture — ticking time-bombs: Will Union Budget 2022 address them?

In some ways, demographics and agriculture are inextricably interlinked. India’s economic growth depends on these.

www.firstpost.com

With our population now officially below replacement levels every year is going to add more and more old people into our workforce.

Many southern states already have their fertility below replacement levels and barring a 3 states this trend is now to be seen all over India.

This leaves us with 2-3 decades before our population starts falling rapidly. While the chinese have already escaped the middle income trap to begin their journey towards a high end manufacturing economy India has been unable to attract a lot of the manufacturing here with Vietnam beating us by a significant margin.

Rather than a decrease in agriculture sector's contribution to the economy there has been a increase over the past year which is the exact opposite of a manufacturing economy.

India will be need a range of extensive reforms if we wish to have a growth rate of at least 9%. With consumer spending still not picking up and base effect residing our GDP growth is once again falling in the 6-7% bracket.

Our inflation rate is at 5.6% right now matching some of the developed countries.

Major reforms in labor and land sectors more money in the hand of consumers disinvestment lower inflation along with massive investments in low end manufacturing is the need of the hour.

 

[Concard]

Demographics and agriculture — ticking time-bombs: Will Union Budget 2022 address them?

In some ways, demographics and agriculture are inextricably interlinked. India’s economic growth depends on these.

www.firstpost.com

With our population now officially below replacement levels every year is going to add more and more old people into our workforce.

Many southern states already have their fertility below replacement levels and barring a 3 states this trend is now to be seen all over India.

This leaves us with 2-3 decades before our population starts falling rapidly. While the chinese have already escaped the middle income trap to begin their journey towards a high end manufacturing economy India has been unable to attract a lot of the manufacturing here with Vietnam beating us by a significant margin.

Rather than a decrease in agriculture sector's contribution to the economy there has been a increase over the past year which is the exact opposite of a manufacturing economy.

India will be need a range of extensive reforms if we wish to have a growth rate of at least 9%. With consumer spending still not picking up and base effect residing our GDP growth is once again falling in the 6-7% bracket.

Our inflation rate is at 5.6% right now matching some of the developed countries.

Major reforms in labor and land sectors more money in the hand of consumers disinvestment lower inflation along with massive investments in low end manufacturing is the need of the hour.

Chinese have not escaped the middle income trap. Who told you they did that? Their demographics are even worse than ours.

 

[Shuturmurg]

Chinese have not escaped the middle income trap. Who told you they did that? Their demographics are even worse than ours.

Haven't they already crossed per capita of 12k nominal ?

 

[Haldilal]

Haven't they already crossed per capita of 12k nominal ?

Ya'll Nibbiars still in middle income groups.

And even if they crossed the 20,000 dollars in the 2030 would still be in the middle Income groups.

 

[Shuturmurg]

Ya'll Nibbiars still in middle income groups.

And even if they crossed the 20,000 dollars in the 2030 would still be in the middle Income groups.

Middle Income Countries

Latest news and information from the World Bank and its development work in Middle Income Countries (MICs). Access Middle Income Countries economy facts, statistics, project information, development research from experts and latest news.

www.worldbank.org

Not according to WB definition

 

[IndianSpiderman]

Demographic dividend is a thing we will never have more favorable demographics than now

It has 20 years of becoming more favourable remaining. India will enjoy its lowest age dependency ratio between 2035 to 2040.