Indian Economy: News and Discussion

[SKC]

AngryIndian, 800 millions of Indians live right on the edge of poverty. If too much go into poverty due to lack of food security, there will be widespread riots and anarchy. If you do not have food security, you will not have law and order. Without law and order there is no progress. You see what is happening in Pakistan. The same thing will happen in India if there is no food security. Besides making sure that 800 millions of India can afford to eat will keep inflation and food prices under control. Indian leaders are trying to get around the problem by encouraging Indians to move away from subsistence farming into sustainable labor practices such as manufacturing and higher value crops and drive down the poverty rate. Hopefully over time the number of 800 million Indians needing food assistance will go down.

I agree mostly but we need to find a way to end this in sensible way.
A lot of population do find it hard to spend money for three-time meals each day but this can't continue for long.
If the economy is growing, then these people should be able to climb up the ladder.

BJP ne churan to chata diya hai but now need to find way to end this step by step.

 

[SKC]

800 million indians are not living in food insecurity no matter how much you want to spin it to defend supreme leader. This is revdi at its best. Food support should absolutely be given to the actual poor (if only the government did yearly reports that gives accurate estimates of poverty instead of relying on private surveys that may not be as reliable) and given to all children for breakfast and lunch in schools.

As pointed by other members in previous page, this is not exactly revadi!
1. There is surplus stock with Govt
2. International market is flooded with cheap grain already and you won't have that much success selling there.
3. This has kept the food inflation to be in control since 3 years now.

 

[FalconSlayers]

Go on and laugh FalconSlayers, but you have never seen what desperation can do to people once hunger sets in. They cannot think straight and can only think of food. Paying for food security is the cheaper option as compared to having your economic expansion plans ruined to widespread anarchy and riots.

Look mate, you're an NRI, you don't live here to know on ground realities. I've seen extreme poverty during the times of UPA when it used to feel we live in a failed state of snake charmers and it is today when we have a highly fast growing economy, in a few years which will cross the upper-middle income threshold with high 0.7 HDI levels. I appreciate NDA's food security scheme, but 80 crore people for next 5 years is too much. He knows it is wastage of money, yet he's doing it for votes. $142 billion is the total cost for that. Sure it would help him win 2029 as well, but one can do better things to gain attention of voters. Bullet trains and new metro/RRTS lines built using that money with big posters of Modi ji will do the magic.

And my laughter emoji was at your 1st sentence "800 million Indians on edge of poverty", that's an obvious lie.

 

[R1TTER]

Ya'll Nibbiars The JSW purchase 35 percent stake in the MG.

View attachment 230597

I thought they were going to buy them out completely or at least majority stake, the heck happened to that?

 

[R1TTER]

Most of the high value/margin IP is owned and patented by the West, especially US megacorps. How many trillion dollar tech companies can you name outside of the big 4/5 in Apple/MS/Google/Amazon and Meta?

That's why China's wants to go indigenous even if it costs them a lot in the short to medium term, they'll probably eventually get here by hook or by crook!

 

[FalconSlayers]

Based

 

[ezsasa]

Look mate, you're an NRI, you don't live here to know on ground realities. I've seen extreme poverty during the times of UPA when it used to feel we live in a failed state of snake charmers and it is today when we have a highly fast growing economy, in a few years which will cross the upper-middle income threshold with high 0.7 HDI levels. I appreciate NDA's food security scheme, but 80 crore people for next 5 years is too much. He knows it is wastage of money, yet he's doing it for votes. $142 billion is the total cost for that. Sure it would help him win 2029 as well, but one can do better things to gain attention of voters. Bullet trains and new metro/RRTS lines built using that money with big posters of Modi ji will do the magic.

And my laughter emoji was at your 1st sentence "800 million Indians on edge of poverty", that's an obvious lie.

there seems to be an assumption that no one outside of those 80 crore within India benefitted from this.
let's compare food inflation to other countries in the past one year, the skyscrapers look at lot different for India. when there is over supply, prices come down.

if this move hadn't happened, i suppose folks would still be complaining.

U.S

Germany

U.K

France

India

 

[ezsasa]

GST Revenue collection for November 2023, at ₹1,67,929 lakh crore records highest growth rate of 15% Y-o-Y

https://pib.gov.in/PressReleasePage.aspx?PRID=1981642

 

[jadoogar]

He's an NRI coolie like that pseudo RW Ganeshhh chap online. Deng did the work for future growth, what Modi is doing now. He may not be in office to witness it, but it will happen.

Why do you call him an NRI
He is probably a wumao or a desi under wumao pay

 

[Blademaster]

Look mate, you're an NRI, you don't live here to know on ground realities. I've seen extreme poverty during the times of UPA when it used to feel we live in a failed state of snake charmers and it is today when we have a highly fast growing economy, in a few years which will cross the upper-middle income threshold with high 0.7 HDI levels. I appreciate NDA's food security scheme, but 80 crore people for next 5 years is too much. He knows it is wastage of money, yet he's doing it for votes. $142 billion is the total cost for that. Sure it would help him win 2029 as well, but one can do better things to gain attention of voters. Bullet trains and new metro/RRTS lines built using that money with big posters of Modi ji will do the magic.

And my laughter emoji was at your 1st sentence "800 million Indians on edge of poverty", that's an obvious lie.

no it is not an obvious lie. Look at the effects of Covid lockdown and see how hundreds of millions of people panicked and Modi calmed them down with a massive food subsidy program. Seeing how it was successful in placating the population at large, it is easy to see why Modi gov't would want to continue that program in exchange for being able to push other economic reforms.

And if you have to resort to the argument that I am a NRI to discount my argument, you have lost already. The mere fact that I am a NRI has nothing to do with the merits of my argument.

 

[angryIndian]

Superpower US spends $120Billion dollars on free food stamps every year.

Moreover, It greatly benefits Old people, parents who dont get financial support from disloyal kids.

>instead setup factories in .....
Go ask LALU NITESH state govt, Why are they not doing what south state ministers doing. most youth there only interested in sarkari naukri anyway. First make state safe for business, the rest will follow.

There is a massive difference between India spending $142 billion and the US spending $120 billion.
India's central government's annual revenue is only a paltry 500 billion $ as compared to 6 trillion $ for the US.The US spends almost 800 billion $ on education,1.5 trillion $ on health on it's 340 million people.

India's over the top spending on subsides would not have been an issue had the government spending on heath,education and other essentials been equally high but we spend very little on them because interest payment,pension,salaries,defense and subsidies consume so much of the budget that little is left for anything else.

And as a consequence of low spending on education,we have created an entire army of youth that is scantly educated,has no employable skills and will perhaps end the same as his parent ie rely on state subsidy for survival.

 

[Tejbrahmastra]

He's an NRI coolie like that pseudo RW Ganeshhh chap online. Deng did the work for future growth, what Modi is doing now. He may not be in office to witness it, but it will happen.

Arunv has decent takes. Don't know much about the lambda guy!!

 

[assassin162]

Arunv has decent takes. Don't know much about the lambda guy!!

Basically what the Lambda guy did was "Sarcasm". That Deng did not do anything as the needle or feedle didn't show.

 

[blackleaf]

800 million indians are not living in food insecurity no matter how much you want to spin it to defend supreme leader. This is revdi at its best. Food support should absolutely be given to the actual poor (if only the government did yearly reports that gives accurate estimates of poverty instead of relying on private surveys that may not be as reliable) and given to all children for breakfast and lunch in schools.

I don't mind the money being spent if it could end child malnutrition, wasting and stunting. This has a significant impact on India's human capital. However the way it is currently being done clearly isn't working given the malnutrition metrics haven't improved.

 

[Shuturmurg]

Average Indian W

Only concern is rural consumption only grew 2.5% this quarter due to bad monsoon and low agri growth. We will have to see if there is any blowback in elections.

 

[nongaddarliberal]

I don't mind the money being spent if it could end child malnutrition, wasting and stunting. This has a significant impact on India's human capital. However the way it is currently being done clearly isn't working given the malnutrition metrics haven't improved.

It's mostly carbs such as wheat and rice which is being given out, and a few vegetables perhaps. To fix child malnutrition and stunting, serious effort needs to be placed on fixing nutrient deficiencies. Superfoods like barley, millets, fish, eggs, walnuts and legumes will need to be targeted towards the poor, especially the kids. That will help diversify crops too.

 

[NutCracker]

IRCTC is running a train cancellation scam.
.
Why can't they add just one more line in the same message which should be , "passengers are supposed to cancel tickets on their own for the refund."

 

[ezsasa]

I don't mind the money being spent if it could end child malnutrition, wasting and stunting. This has a significant impact on India's human capital. However the way it is currently being done clearly isn't working given the malnutrition metrics haven't improved.

there is a separate program called POSHAN for malnutrition.

 

[Haldilal]

Ya'll Nibbiars Dam Bata Apna, Hiro mein taluga tujhe. Pocket money se khared Luga tero government ko.

 

[another_armchair]

A little disappointed with GST collections for the month of November.

UPI payments surge seen in October also likely to see a dip.

Reaffirms what I heard from the main street folks.

Lets see what December holds for us.