Indian Economy: News and Discussion

[Indx TechStyle]

36% Of IIT Top 1000 Rankers, 62% Of Top 100 Rankers Have Moved Out Of India as per some estimate

That does not contradict my comment. What the is percentage of IITians of total Indians moving out and the percentage against all the home-staying minds from all prestigious institutions like IISERS and NITs.

Unless you strictly narrow your definition of a bright mind as essentially a topper of IITs who are usually rich moguls, India's brain drain saga is a hoax as nonsensical as India's population explosion. India rather has a rich drain.

An IITian topper, likely after investing millions in coachings to top at IIT, will certainly go for the highest package possible.

And for many moving abroad is not out of choice but compulsion as it is very difficult to build a career in any field other than IT and Finance.

Can you provide a source for it please (percentage of developers against all engineers and percentage of finance related jobs against all formal jobs)?
As far as I have experienced in my career, IT sector doesn't hold any significant relevance at least in terms of employment beyond the clutches of Bangalore and Hyderabad.
Core fields like mechanics, civil and electricals are dying without people.

Off course even a new joinee GET or PGET from IITs in an MNC in India won't get a package of even 10 lakh INR at beginning and that's why they don't stay and just spend an year in company to top up experience. Being from IIT won't change things much for you either as experienced professionals regardless of their colleges will always be more competent and technically capable.

Exceptional IITians are just entrepreneurs with tech start ups like in Aerospace, you are going to find nothing exceptionally bright in IITians working in jobs against students from local colleges.

 

[DingDong]

36% Of IIT Top 1000 Rankers, 62% Of Top 100 Rankers Have Moved Out Of India as per some estimate

And for many moving abroad is not out of choice but compulsion as it is very difficult to build a career in any field other than IT and Finance.

OK, here is a surprise for you. A significant majority of the CS graduates from the IITs don't opt for the IT-related jobs. They move into finance, banking and/or research. Don't underestimate the "grass is greener on the other side" factor.

India offers plenty of opportunities for all the STEM disciplines except "biotech and aerospace".

During my time at the IIT, foreign placement was banned and the students got penalized for opting for out-of-campus placement. However, since the education is no longer subsidized, students can now opt for the foreign placement (as far as I know).

Moving abroad is mostly "out of choice" for the fresh graduates.

 

[thebakofbakchod]

Blue Star investing Rs 900cr in Sri City plant by FY27

Hyderabad: Airconditioning and refrigeration company Blue Star Ltd has lined up a series of capex investments close to Rs 900 crore on its new plant in Sri City, Andhra Pradesh. It has ambitious...

www.thehansindia.com

They are increasing the production capacity to 18 lakh room AC units by financial year 2026-27 from 3 lakh room AC units at present. GST rates for ACs should be slashed to <10% from the current 28%. AC should be a human right in India. Companies like Blue star have very low margins as their localization is very low. Time for new players to invest in compressors etc which are currently all imported from chiense vendors.

 

[thebakofbakchod]

never before has someone portrayed freebies more succinctly. This applies to all parties in general

 

[Coalmine]

https://www.financialexpress.com/business/banking-finance-lateral-hirings-in-psbs-spark-debate-3446683/

 

[Hari Sud]

With US and India are logger’s head over what seemed to be a minor irritation of Pannu Affair where no damage has been done hence US enthusiasm to invest in India is not there in the investment circles. China which was not doing well suddenly jumped ahead in EV vehicles, solar panels and all battery powered products. China has left Germany behind in Solar panels and have left Tesla behind in supply of EV cars. The latter is forced to invest in India and sell in India to make up the sales decline.

The US which encouraged India to be world beater with technology and FDI has for other reasons decided to move away. Their ambassador in India drew a red line on Pannu Affair and rudely asked for action when no damage is done. Pannu affair was manufactured by the U.S. Democrats. The ambassador need to be shown the mirror for their own murderous actions all over the world including Iran.

What it means is that they do not wish India to rise as fast China rose from 1995 to 2014. Their assumption is that independent minded India will be as big a problem to deal with in next ten years as China is today. They don’t want that problem at hand. They want to deal with India today instead of tomorrow.

Now India is back to its own devices for economic growth. May be other avenues have to ve explored for economic growth.

It is unlikely that India and US will shake hands during remaining Biden months.

 

[Physx32]

India building up gold reserves as part of forex deployment: RBI Guv Das

https://www.business-standard.com/economy/news/india-building-up-gold-reserves-as-part-of-forex-deployment-rbi-guv-das-124040500591_1.html

 

[Extraordinary]

View attachment 247277

never before has someone portrayed freebies more succinctly. This applies to all parties in general

The original purpose of free electricity water was relieving some weight off the economically weaker sections of the society.
A household that spends less than 200 units is probably lower class and stressed economically. Probably does not have AC or even washing machine.
Saving some money from electricity bill a household could better use the amount in uplifting their future by spending on education and healthcare.
This isn't limited to just families but students as well who may live in a flat that do not consume more than 200 unit.

 

[Concard]

The original purpose of free electricity water was relieving some weight off the economically weaker sections of the society.
A household that spends less than 200 units is probably lower class and stressed economically. Probably does not have AC or even washing machine.
Saving some money from electricity bill a household could better use the amount in uplifting their future by spending on education and healthcare.
This isn't limited to just families but students as well who may live in a flat that do not consume more than 200 unit.

Oh, new member. Sorry to break it to you man/woman. You are a retard if you think someone spending 150kwh of electricity in our country is lower class. And I seriously don't think you understand how simple economics work. Welcome to DFI. Get ready to be battered if you support mindless freebies without proper data and justification. I am really tired to explain the BS you have written. But make no mistake there are others who will educate you on this topic.

 

[Extraordinary]

You are a retard if you think someone spending 150kwh of electricity in our country is lower class.

Aren't they by definition?
4 led lights, 2 fans a Television, and fridge will clock the bill below 200.
In a place like Delhi no less where the Air isn't clean and rising temperatures warrant a AC or at the very least a cooler.

How is generous helping of 200 units for perhaps a auto driver, house help or a menial worker making him lazy and unproductive?

 

[DingDong]

Aren't they by definition?
4 led lights, 2 fans a Television, and fridge will clock the bill below 200.
In a place like Delhi no less where the Air isn't clean and rising temperatures warrant a AC or at the very least a cooler.

How is generous helping of 200 units for perhaps a auto driver, house help or a menial worker making him lazy and unproductive?

Because an auto driver earns enough to not "need" such assistance. This is bribery. Generous help is done with the money from own pocket, what we are witnessing here is the misuse of the public money to buy votes.

 

[Concard]

Aren't they by definition?
4 led lights, 2 fans a Television, and fridge will clock the bill below 200.
In a place like Delhi no less where the Air isn't clean and rising temperatures warrant a AC or at the very least a cooler.

How is generous helping of 200 units for perhaps a auto driver, house help or a menial worker making him lazy and unproductive?

Will the money fall from sky for you? It is estimated that 13,000 crore is required to fulfil free electricity in Karnataka. This will amount to 65,000 crore over a period of 5 years. Do you know what and all can be be done in that 65,000 crore in 5 years in Karnataka. You can improve transmission lines and reduce distribution and transmission losses. Heck you can even put many power lines underground in Bengaluru. With that budget properly utilized entire Karnataka can get 24/7 electricity. Nothing should ever be provided for free. Everything should be provided at affordable prices.

If providing free stuff is your economic policy then you are the problem. As I said try understanding basic economics. This country has been pouring free rice, free ration, free that, free this for over 75 years. And we are in the same place with some marginal improvements in Urban areas.

 

[spacemarine2023]

Nothing comes without a cost; there is always an associated expense with freebies. If a government is elected solely on the promise of freebies, it sets the stage for a future where all resources are drained without fostering development. Gradually, the economy deteriorates, leading to financial instability, rendering the government unable to sustain its promises. Consequently, society collapses under the strain, leaving the nation vulnerable to both internal and external pressures.

 

[MuffleParch]

Aren't they by definition?
4 led lights, 2 fans a Television, and fridge will clock the bill below 200.
In a place like Delhi no less where the Air isn't clean and rising temperatures warrant a AC or at the very least a cooler.

How is generous helping of 200 units for perhaps a auto driver, house help or a menial worker making him lazy and unproductive?

Welcome to DFI. Please learn to ignore personal barbs such as "retard". That was uncalled for. We need people to be able to put forward their ideas and disagreements. This forum should not be an echo chamber.

Having said that I think you are very wrong here. Sometimes, well thought-out by economists and sociologists, a fiscally responsible and time limited freebie is a necessity in all societies. But watch out for freebies announced by politicians during an election season just for the sake of votes. India will be a Venezuela if the Congress manifesto is implemented.

 

[Crazywithmath]

Aren't they by definition?

Please provide that 'definition'.

NB: Standards defined by some random NGOs, think tanks don't count.

4 led lights, 2 fans a Television, and fridge will clock the bill below 200.
In a place like Delhi no less where the Air isn't clean and rising temperatures warrant a AC or at the very least a cooler.

How is generous helping of 200 units for perhaps a auto driver, house help or a menial worker making him lazy and unproductive?

A typical household consuming some ~200 units per month is not poor; not by the Indian standards at least.

What the is percentage of IITians of total Indians moving out and the percentage against all the home-staying minds from all prestigious institutions like IISERS and NITs.

Unless you strictly narrow your definition of a bright mind as essentially a topper of IITs who are usually rich moguls, India's brain drain saga is a hoax as nonsensical as India's population explosion.

I have written this exact thing time and time again on this thread and let me warn you in advance, you are only wasting your time. You can get somewhere only when the other side is engaging in good faith; you cannot counter rants.

Will the money fall from sky for you? It is estimated that 13,000 crore is required to fulfil free electricity in Karnataka. This will amount to 65,000 crore over a period of 5 years. Do you know what and all can be be done in that 65,000 crore in 5 years in Karnataka. You can improve transmission lines and reduce distribution and transmission losses. Heck you can even put many power lines underground in Bengaluru. With that budget properly utilized entire Karnataka can get 24/7 electricity. Nothing should ever be provided for free. Everything should be provided at affordable prices.

If providing free stuff is your economic policy then you are the problem. As I said try understanding basic economics. This country has been pouring free rice, free ration, free that, free this for over 75 years. And we are in the same place with some marginal improvements in Urban areas.

The BJP admin left Karnataka in very decent fiscal health. INC smelled an opportunity and went all guns blazing in an election year.

 

[Indrajit]

Will the money fall from sky for you? It is estimated that 13,000 crore is required to fulfil free electricity in Karnataka. This will amount to 65,000 crore over a period of 5 years. Do you know what and all can be be done in that 65,000 crore in 5 years in Karnataka. You can improve transmission lines and reduce distribution and transmission losses. Heck you can even put many power lines underground in Bengaluru. With that budget properly utilized entire Karnataka can get 24/7 electricity. Nothing should ever be provided for free. Everything should be provided at affordable prices.

If providing free stuff is your economic policy then you are the problem. As I said try understanding basic economics. This country has been pouring free rice, free ration, free that, free this for over 75 years. And we are in the same place with some marginal improvements in Urban areas.

Very well said.

 

[another_armchair]

The original purpose of free electricity water was relieving some weight off the economically weaker sections of the society.
A household that spends less than 200 units is probably lower class and stressed economically. Probably does not have AC or even washing machine.
Saving some money from electricity bill a household could better use the amount in uplifting their future by spending on education and healthcare.
This isn't limited to just families but students as well who may live in a flat that do not consume more than 200 unit.

LOL.. that's an odd generalization.

Consumption with liberal usage for us, a family of three has been less than 200 units despite washing machine, odd use of microwave, most clothes get ironed at home by the maid.

Did not apply for Gruha Jyoti scheme. It would be criminal for folks who can afford it to freeload. Worse, people are piling on electrical gadgets to save on gas prices and that in turn is adding pressure on power generation plants, pushing demand for coal... this being a drought year has led to lesser hydropower generation. It all adds up.

That would mean a good part of Bangalore is lower class and economically stressed because you hardly need a fan for 6-7 months of the year. Haven't found need for an a/c yet for the home. Kitchen has a cooler that my maid and cook use during summer.

 

[Cheepek]

The original purpose of free electricity water was relieving some weight off the economically weaker sections of the society.
A household that spends less than 200 units is probably lower class and stressed economically. Probably does not have AC or even washing machine.
Saving some money from electricity bill a household could better use the amount in uplifting their future by spending on education and healthcare.
This isn't limited to just families but students as well who may live in a flat that do not consume more than 200 unit.

200 units aka ~600 rupees will surely help "poor" households in Delhi with per capita income of ~450000 rupees

 

[another_armchair]

200 units aka ~600 rupees will surely help "poor" households in Delhi with per capita income of ~450000 rupees

Is electricity really that cheap in Delhi? Just 600 rupees for/up to 200 units?

 

[Cheepek]

Is electricity really that cheap in Delhi? Just 600 rupees for/up to 200 units?

Yup it's ~3 rupees/kWh for first 200 units