Indian Economy: News and Discussion

[ezsasa]

If we want private players to step up exponentially for the country's needs, the govt needs to make their lives as easy as possible and make the rules sensible. One should look over ORF's report "Jailed for Doing Business" to see how far that is from the reality. The government has been the biggest impediment to growth, and they're unable/ unwilling to reform to the extent required.

Jailed for Doing Business: The 26,134 Imprisonment Clauses in India’s Business Laws | ORF (orfonline.org)

it's not the case that nothing has been done about legacy laws. people forget that modi is the first prime minister to say that being an industrialist or an entrepreneur is not a sin. as recently as last month, he told IAS officers to look for laws that need to be cancelled at any level local, state or centre.

it's a process, it takes time. if ORF has done a report, it's because Govt is asking for such data. ORF is a official partner of GoI after all.

just because news media doesn't report these things extensively, doesn't mean nothing is happening.

No govt can solve all problems one fine day, as with everything else they need to prioritise.

it's not like business folks are angels either. whatever needs to be done, let it be done on merits of the case.

 

[another_armchair]

India crude imports hit record high in Apr on supplies from Middle-East, Russia

According to S&P Global Market Intelligence, India’s seaborne crude oil imports surpassed 4.8 million barrels per day in April

www.livemint.com

As of May 9, almost 10 million barrels of crude loading from Russia—including 970,000 barrels of Kazakhstan’s CPC Blend—have discharged in India this month, the report said. Another 16 vessels with 13 million barrels are currently indicating India as their destination and are expected to arrive within the next four weeks. This includes one cargo each of CPC Blend and Siberian Light and the rest comprising Urals.

Safe to assume out of 23 million barrels of crude, about ~19 million barrels are Ural crude?

 

[LondonParisTokyo]

What is implication of BRICS bank in Gujarat?

 

[Kumata]

1 lakh crore ka loss per year hoga government ko due to lowering excise duty on petrol diesel.

View attachment 156944

Notional loss..how can it be loss when it's not in their kitty...

Expect another indirect tax to back fill this... Govt never does anything which takes away even a single paisa in their coffers...

Purely a PR exercise... Imo they have already collected much more than hence this marketing thing that we are loosing 1 lakh crore... Goes onto show how much they milk the average mango man..

 

[ezsasa]

Notional loss..how can it be loss when it's not in their kitty...

Expect another indirect tax to back fill this... Govt never does anything which takes away even a single paisa in their coffers...

Purely a PR exercise... Imo they have already collected much more than hence this marketing thing that we are loosing 1 lakh crore... Goes onto show how much they milk the average mango man..

last few pages are filled with posts of folks worried about household inflation, and now you say PR exercise.

 

[IndianYonko]

last few pages are filled with posts of folks worried about household inflation, and now you say PR exercise.

Common mango man?

 

[ezsasa]

Common mango man?

what's mango man, not current on lingo?

 

[another_armchair]

Goods and Services Tax (India) Revenue Statistics - Wikipedia

en.wikipedia.org

Not bad given the headwinds against growth. Need greater compliance though.

 

[another_armchair]

India’s forex fell by $2.68 bn aided by drop in gold reserves for week ended May 13

According to an article 'State of the Economy', published in the RBI's Bulletin for May, foreign exchange reserves at USD 596 billion as on May 6 were equivalent to about 10 months of imports projected for 2022-23.

economictimes.indiatimes.com

During the week, the gold reserves dropped by 1.17 billion compared to an uptick of $135 million in the preceding week.

The foreign currency assets fell at a slower pace by $ 1.3 billion versus nearly $2 billion reduction a week earlier.

 

[gslv markIII]

what's mango man, not current on lingo?

Aam aadmi

 

[Shuturmurg]

India’s forex fell by $2.68 bn aided by drop in gold reserves for week ended May 13

According to an article 'State of the Economy', published in the RBI's Bulletin for May, foreign exchange reserves at USD 596 billion as on May 6 were equivalent to about 10 months of imports projected for 2022-23.

economictimes.indiatimes.com

 

[Indrajit]

Bengaluru – Leading Growth By A Distance

Bengaluru’s population has grown by 70 per cent in the last two decades, while the country’s overall population has grown by about 28 per cent.Bengaluru leads the cities with a Gross District Income of Rs 6.8 lakhs. This is more than four times the national average per capita GDP.

swarajyamag.com

 

[thebakofbakchod]

Whats this about

 

[Shuturmurg]

Whats this about

Ola tamil nadu plant has capacity of scaling upto 2 million units, why is he opening more factories ? Or is this for battery manufacturing ?

 

[Arjun Mk1A]

If it is true. Then it is a massive boost for Yogi's Government and also in the first time significant investment in eastern part of UP which is good since so far Noida is dragging them.

 

[Kumata]

last few pages are filled with posts of folks worried about household inflation, and now you say PR exercise.

Well.. Point is different.. Cow is milched already and on the brink of collapse..this is just a exercise to shift the blame &. "we tried" to save . U decide if this is PR or not...


Why they even allowed the inflation in first place. I know fav bogey for everyone is global factors & Ukraine war but we need to look within ourselves..... We hardly source any oil on spot contract...
All r long contracts... And from Arab not Russia..

Fact is govt itself stoked inflation with easy credit... People were anyways dying to spend due to covid and get out... Now they suddenly feel the pinch & started crying... EMI, s still need to paid baba....

If they were so worried than they wud have controlled. That easy credit...

Fact is they have collected huge money in last few years when fuel. Prices were low... Now that coffers are over flowing... They r showing their large hearts...

 

[Rxbanda]

I read somewhere that Russia is selling the oil at 75% of pre-war price. Can't recall the source though.

 

[vishnugupt]

I read somewhere that Russia is selling the oil at 75% of pre-war price. Can't recall the source though.

Russia offered 70 dollars per barrel (-30%) but India asked 60 dollars (-40%) as there are difficulties at every level when we buy Russian oil.

Now Indian share increased to 10% from 1% of total Russia oil export.

We must give credit to Nehru for his nonalignment foreign policy.

 

[sauntheninja]

Bengaluru – Leading Growth By A Distance

Bengaluru’s population has grown by 70 per cent in the last two decades, while the country’s overall population has grown by about 28 per cent.Bengaluru leads the cities with a Gross District Income of Rs 6.8 lakhs. This is more than four times the national average per capita GDP.

swarajyamag.com

View attachment 156992

View attachment 156993

This is the first time thane is mentioned here it's a quite underrated city

 

[Haldilal]

When actors understand economics better than scamgressis

Ya'll Nibbiars R Madhavan has Phd degree in economics from the Shivaji University Kolhapur and that also on scholarship. Was selected for Training with the RN but missed it by one days was going to join IN. Has many degree both full time honourable ones. And During the period, and also won the Indian Championship for Public Speaking and subsequently represented India at the Young Businessmen Conference in Tokyo, Japan in 1992. And also has BSc in electronics from the Shivaji Universitys. And was part of exchange programme with the Rotary Internationals. And also done PG in PR from KC collage in Mumbai.

And wouldn't be suprised if do dhobi pacha with Tai in a debate on economics. Has more qualifications than Tai and also knowledge both terotical and particals. And joined acting to make extra money to set up business and by suprise made a career in acting only by chances.

And probably the most educated actor in India literallys.