Indian Economy: News and Discussion

Sayman Ame

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Here capital is the factor unfortunately.
And trickle down is too low? Bruh this industry holds our CAD intact. Without it we would be in the same situation as our neighbours.
And never forget "Indian Americans" are just americans.
A marxist nut that he is, Jawahar Sircar had a surprisingly neat article on how Indian-Americans are the last ones to associate themselves with India. The article has nothing new that we don't know of, but a nice read nonetheless :

 

Dr_Deep

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A marxist nut that he is, Jawahar Sircar had a surprisingly neat article on how Indian-Americans are the last ones to associate themselves with India. The article has nothing new that we don't know of, but a nice read nonetheless :

Ei toh shaala hona hi tha..watso suprising. Decades of socialist planning and economic policies completely crushed any entrepreneurial hopes of the Indian. We have always treated the capitalist class with contempt believed our fate on mai-baap sarkar. No wonder the skill and brain leaves. Sirf GST rate kam ya barane se kaam nhi hoga..a fundamental shift in mindset needs to be happen. That means a culture which fosters "Its glorious to be rich" which Deng did in China in 1980s.
Indian-Americans are the last ones to associate themselves with India
Thats because India is still as "perceived" as a developing country not something they can be very proud of. Once the GDP per capita become $10k or more..you will see overnight all the Indian-Americans becoming proud and associate themselves..as wealth attract wealth.

Being an Indian-American myself ...pre-2014, I was hopeless about India's future ..scam after scam. I just got more close to the American Identity..But after 2014, slowly-slowly I became optimistic and by I became a Modiji Fanboy. There are lot of changes done and lots needs to be done..but I bet India's future will be good. On America, post Pandemic I just lost hope this country is gonna go through some interesting upheavel. There will be some dark times ahead but we will back after the leaders course correct themselves.
 
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Dr_Deep

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Most such indices published by random US state dept and/or EU funded NGOs are utter BS prepared by jobless social science jhollachaaps using voodoo data from opaque sources. How on earth can one make this shit up?

The only index I am concerned right now is the ECI (Econimic Complexity Index) as well as the Big Mac Index (How much it cost to make a Mc Donalds Big Mac or equivalent ) of India. Higher the ECI that we as a nation moving up in the value chain of products we export. Yeh sab Happiness index is for those pesky small countries to feel good about themselves since they lack hard power and economically vulnerable to outside market forces..
 

Dr_Deep

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Virudhnagar me kya hua tha bhai, folks are just thinking too much.
Double engine government works only when state too has same party government.
When this dosent happen then both, remember both centre and state parties get hostile to each other.
Both of them.
In bengals case it's the state being hostile to centre, In bihars case it's centre being hostile to bihar.
Momo will see Modiji's policy ..and copy it under her name and vice-versa. If there is Pradhan Mantri Garam Sadak Yojna then there Bangla Gramin Sadak Yojna. Momota launched Kaynashri Mudiji launched Beti Bachao Abhiyan. So its a battle of Big 56' Inch ego vs Khela Hobe ego..
But there is plan to setup textile parks by WB Govt, some already have.. But its small in size. WB biggest strength is going to be Leather Footware and Jute. There is already a demand for Jute products from the West especially US where plastic bags are getting banned in every state. Kolkata already has factories for Jute on the river Ganges.
 

Haldilal

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Ya'll Nibbiars The proposed change in the Finance Bill to remove LTCG with indexation status on debt funds is reviewed. And Would be yet another disaster among a long list of taxation disasters under the present MoF team. Hope it doesn't go through. The big issue is all our parliamentarians instead studying and debating budget are going on strike. No hope it all. The Tai is only squeezing the same 2-4% tax payers more and more , wiping both their savings and investments. LTCG removal on equity was another blow. This is worse. And now kumata Nibba will start another round of RR with this.

At the core, the matter is that govt wants to collect more taxes. this seems (to them) to be low hanging fruit. Prepare for progressively more taxes from LTCG across categories, as well as wealth and estate taxes in the years and decades ahead. The Govt is withdrawing the benefit extended to Debt MFs for so many years, viz Bank deposits. The govt has only eliminated a tax arbitrage. The argument that MFs provide liquidity, Banks also trade in gsecs. there is now enough Aum size for maintaining liquidity..

It's Done and Investor AMC, or Everyone concerned have to accept it and move on as industry body AMFI Toothless body, Never fought with Regulator or Govt for many unnecessary things in past and now other than accepting whatever comes they can't do anything. Stupid proposal. Tax everyone & everything to bits, how does one offset equity then. Not everyone can afford latter's volatility. And Strongly oppose this proposal to remove LTCG with indexation status on debt funds. It's one of the few ways in which we middle class people build our corpus without taking undue risk. Pls try expanding your tax net rather than squeezing out honest tax payers. Debt funds will now be taxed at 30 percent tax rate. No LTCG, no indexation for debt funds. Don't worry. Keep paying more taxes each year with same income.

The LTCG in equity will be 20 percent soon. Inheritance tax will come soon. And Every time an industry lobbies for a benefit that another industry gets, the govt. takes away the benefit from the prevailed industry too. Maybe we should all just agree to not lobby. Govt stance is punitive towards capital market.. What was point to raise tax on REiT/InVit, the product was just launched, in few yrs they brng tax.. Tax efficiency was key selling point in the product.. We are only seeing inc in taxes in capital market since last many years. The and Many mutual funds are hit not just debt mutual funds. Even those which invest in overseas equity, gold, etc. The amendment talks of less than 35 percent in "equity of domestic company"! The MLDs change is for all even those bought before. Only the Mutual funds are grandfathered.
 
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Shuturmurg

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Ya'll Nibbiars The proposed change in the Finance Bill to remove LTCG with indexation status on debt funds is reviewed. And Would be yet another disaster among a long list of taxation disasters under the present MoF team. Hope it doesn't go through. The big issue is all our parliamentarians instead studying and debating budget are going on strike. No hope it all. The Tai is only squeezing the same 2-4% tax payers more and more , wiping both their savings and investments. LTCG removal on equity was another blow. This is worse. And now kumata Nibba will start another round of RR with this.

At the core, the matter is that govt wants to collect more taxes. this seems (to them) to be low hanging fruit. Prepare for progressively more taxes from LTCG across categories, as well as wealth and estate taxes in the years and decades ahead. The Govt is withdrawing the benefit extended to Debt MFs for so many years, viz Bank deposits. The govt has only eliminated a tax arbitrage. The argument that MFs provide liquidity, Banks also trade in gsecs. there is now enough Aum size for maintaining liquidity..

It's Done and Investor AMC, or Everyone concerned have to accept it and move on as industry body AMFI Toothless body, Never fought with Regulator or Govt for many unnecessary things in past and now other than accepting whatever comes they can't do anything. Stupid proposal. Tax everyone & everything to bits, how does one offset equity then. Not everyone can afford latter's volatility. And Strongly oppose this proposal to remove LTCG with indexation status on debt funds. It's one of the few ways in which we middle class people build our corpus without taking undue risk. Pls try expanding your tax net rather than squeezing out honest tax payers. Debt funds will now be taxed at 30 percent tax rate. No LTCG, no indexation for debt funds. Don't worry. Keep paying more taxes each year with same income.

The LTCG in equity will be 20 percent soon. Inheritance tax will come soon. And Every time an industry lobbies for a benefit that another industry gets, the govt. takes away the benefit from the prevailed industry too. Maybe we should all just agree to not lobby. Govt stance is punitive towards capital market.. What was point to raise tax on REiT/InVit, the product was just launched, in few yrs they brng tax.. Tax efficiency was key selling point in the product.. We are only seeing inc in taxes in capital market since last many years. The and Many mutual funds are hit not just debt mutual funds. Even those which invest in overseas equity, gold, etc. The amendment talks of less than 35 percent in "equity of domestic company"! The MLDs change is for all even those bought before. Only the Mutual funds are grandfathered.
Looks like government wants to push more investor money into domestic companies rather than overseas stocks and gold. Might be to make capital available more easily for domestic companies to fuel their expansion. Not sure about the rule regarding Debt MF. Debt MF are used to invest in govt. and company bonds, so I am not sure what is the point there ? Can anyone with more knowledge of this subject let us know.
 

iNorthernerOn9

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Forex reserves rise by $12.8 billion in past week.

 

blackleaf

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What's sad is that this 1.7% is being hailed as a big achievement due to decades of criminal underinvestment. We need close to 5% of the GDP being spent on road, rail and waterway infrastructure which is in line with what other fast growing countries invested in the past
For 5% you need a higher tax to GDP ratio. I think it is currently at 10% compared to 20% in other fast growing countries in the past.
 

Concard

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Forex reserves rise by $12.8 billion in past week.

If we just maintain balance of trade especially with merchandize exports that itself rises our forex many times. During pandemic our forex used to go up and up every week. I think this increase this week must be due to the narrowing deficit. Hopefully when the year 2026 begins our merchandize exports are north of $600 billion and I am hoping our imports wouldn't have grown to $1 Trillion. The gap between exports and imports is growing very rapidly. We can't balance this gap every year with just services exports and remittances. We need to achieve parity in merchandize trade. This way our currency remains stable, our interest rates will decrease and there will be more money for Central government to spend on infrastructure projects.
 

Sanatani

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A marxist nut that he is, Jawahar Sircar had a surprisingly neat article on how Indian-Americans are the last ones to associate themselves with India. The article has nothing new that we don't know of, but a nice read nonetheless :

Indian Americans are one of the most cold ppl I have come across . We call it the American syndrome where they try to intellectualise human problems . With emotions gone they are the last ones to understand human feelings .
 

Abbey

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1679670761217.png

The government could roll out a modified production-linked incentive scheme along with incentives for exports and employment generation for medium enterprises. The move is aimed at incentivising small units in the MSME category to scale up operations to move into the medium category and generate more employment while integrating them with the global value chain.

The idea is to significantly enhance the number of medium enterprises in the country, which currently constitutes a miniscule 0.01% of the total MSMEs in India, a senior government official told ET.

He said the NITI Aayog is firming up a policy framework in this regard. The policy could cover medium units from sectors including engineering, electrical, chemical and pharmaceuticals.

"The government is of the view that the existing MSME policy needs a bit of alignment including a different form of production-linked incentive scheme and direct incentives for certain sectors to help units expand and move into the medium category," the official added.

The draft policy is expected to be firmed up soon, following which the Aayog will seek views of the stakeholders before finalising it.

The government had in March 2020 rolled out the first three PLI schemes for electronic and technology products, pharma, and telecom and networking products, which was later expanded taking the total number to 14.

"If India wants employment generation, we have to incentivise medium-sized enterprises to expand, either through a dedicated PLI scheme for them or other incentives," said Anil Bharadwaj, secretary general at Federation of Indian Micro and Small & Medium Enterprises, adding that current PLI scheme is targeted at capital incentive manufacturing, which is more automated.
 

Coalmine

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Indian Americans are one of the most cold ppl I have come across . We call it the American syndrome where they try to intellectualise human problems . With emotions gone they are the last ones to understand human feelings .
I think all Hindus have become cold. Even in India no one bothers about what happens with fellow Hindus in India or Pakistan or Bangladesh or Kashmir.
American Hindus are same. Everyone wants to enjoy life/materialism.
No one seeing the Benefits of Unity among Hindus.
Hindus have become very independent
 

Sanatani

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I think all Hindus have become cold. Even in India no one bothers about what happens with fellow Hindus in India or Pakistan or Bangladesh or Kashmir.
American Hindus are same. Everyone wants to enjoy life/materialism.
No one seeing the Benefits of Unity among Hindus.
Hindus have become very independent
Forget about fellow hindus, I have seen them to be least considerate about feelings of their parents who are bed ridden
 

IndianHawk

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I used to talk about this very often. It was bound to happen. Similarly in manufacturing we are now growing very fast. Soon we will turn current account surplus in both goods and services. And we are signing oil imports deal in rupees and non dollar currencies like ruble and dirham.
At the same time we eclipse China as largest destination of FDI in developing World .
All of which means rupee will become stronger and relative size of Indian economy will rise much faster .

Our 3.8 trillion economy would be 7 trillion right now if rupee was 40 against dollar instead of 82. ( It was 39 against dollar in 2007) .

That will have cascading effect on everything just like meteoric rise of China this time india will rise faster than anyone could have anticipated.
In 2030s we will be adding trillion dollar to our GDP every year . Year after year even with modest growth. That's when we will be recognised as third pole in the world.
 

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