Indian Economy: News and Discussion

[FalconSlayers]

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.

Subsidies and freebies should be for the extremely poor or people who'll live substandard life without assistance, I agree. But... shouldn't that reduce over time? Like with GDP growing at 7-8% every year, and poverty rapidly decreasing, the allocation for freebies should ideally be reducing over time, is that happening? Nope. Because it is a tactic used by all parties for votes. Congress started free food grains for 81 crore people in 2013, Modi is still continuing it in 2024 for a few more years which costs billion of USD equivalent cash which could've helped in productive freebies like mass affordable housing construction, building industrial parks and 24/7 electricity and piped water supply to all.

Money doesn't grow on trees, why tf am I supposed to pay for some chhapri who spends whole day on his phone scrolling reels while enjoying free electricity, food, water on taxpayers money.

 

[another_armchair]

Subsidies and freebies should be for the extremely poor or people who'll live substandard life without assistance, I agree. But... shouldn't that reduce over time? Like with GDP growing at 7-8% every year, and poverty rapidly decreasing, the allocation for freebies should ideally be reducing over time, is that happening? Nope. Because it is a tactic used by all parties for votes. Congress started free food grains for 81 crore people in 2013, Modi is still continuing it in 2024 for a few more years which costs billion of USD equivalent cash which could've helped in productive freebies like mass affordable housing construction, building industrial parks and 24/7 electricity and piped water supply to all.

Money doesn't grow on trees, why tf am I supposed to pay for some chhapri who spends whole day on his phone scrolling reels while enjoying free electricity, food, water on taxpayers money.

Free food scheme no longer has an expiry date.

I don't buy the affordable housing theory either. Multiple members of the same family apply for the scheme, have 1 room homes built on a large piece of land and rent it out.

Worse, heard people in AP sold off their free houses to people for 5 lakhs and above.

They will blow it all up at one go in buying a bike, a swanky mobile phone, clothes and hoes.

During covid, people got free cooking oil and kabuli chana through PDS in many parts of AP.. maybe paid a token amount for that.

 

[Blademaster]

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.

In a way it is good and better for India because it means that India is less reliant on America's economy and investments. It makes India more independent.

 

[TopWatcher]

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

Nothing like that just an eye wash. Bses take extra money in form of ppac charges around 40%.

Actually users paying 6-7 rs per unit in delhi.

 

[Hari Sud]

Indian consumer confidence is at four years high fuelled by the rapidly rising economy and people willing to spend.
it is a good sign that Modi/BJP policies are working……. Thank you.

Indian consumer confidence at more than four-year high, cenbank data shows

Consumer confidence in India is at its highest level since mid-2019, a survey conducted by the Reserve Bank of India showed on Friday. Consumers' confidence in their current economic situation has been on a path of sustained recovery, the central bank said, adding that sentiment on both the...

finance.yahoo.com

 

[Super Flanker]

Majority of people we loose to west are youth who migrate on study visa and stay on work visa like working on hotels or warehouses.

Nadella or Pichai etc. are hypersuccessful exceptional leaders of an invisibly small minority which off course exists in India's modern entrepreneurs too.

We though certainly have lost significant manpower which could add 2-3 percentage points in growth every year.

The issue of brain is grossly over-exaggerated. Several of my classmates from school, left India and went to the UK for further studies or as they claim to do so. Most of them left, not because it's difficult to build a career in India and live, but rather because of an obsession to move to the UK. I don't know anyone who has moved to the US but all classmates I know, moved to the UK. And I can guarantee you, that most of them are not studious. Some are pursuing some good study field but that is about it.

This trend among Goans to move to the UK is very common. Punjabi Sikhs have an obsession to move to Canada as a preferred International destination, in the end they mostly opt for small time jobs such as Taxi Driver, Workers, cleaning jobs at airports, factory labour, or work at some food outlet such as McDonald's, KFC, Burger king etc. The same way, majority of Goans go to the UK and opt for low level jobs.

During my science practical, one of my classmates was speaking about someone's he knew who gone to the UK and become rich, he said this:
"He was a class 9th failure, he went to the UK, and earned tons of money by simply cleaning and washing toilets".

I honestly don't know how true his claim is but I would take everything with a pinch of salt.

Majority of the youth that we lose to the west, like you said, are the ones who are unable to get a basic education in India, in the long run, their skills would prove to be useless for India. Though there are outliers wherein we have indeed lost many bright minds to the west, which if would have stayed in India would have done a lot of R&D and scientific contribution to Bharat.

Some of these Goans, come back every now and then back from the UK, and oh boy, the way they have changed, I can truly say that moving to the UK cucked them.

 

[jai jaganath]

https://www.financialexpress.com/business/railways-govt-may-shelve-rs-2-trn-freight-corridor-plan-3448183/

 

[Concard]

https://www.financialexpress.com/business/railways-govt-may-shelve-rs-2-trn-freight-corridor-plan-3448183/

"maybe" "likely" "anonymous sources".. what kind of journalism these morons practice? DFC won't be shelved. For India to progress and bring down logistics costs which will in turn make India a manufacturing hub, proposed DFC's have to be completed. Let GoI come out with official statement.

 

[Coalmine]

This is a very bad culture deveoping in India called Misselling.
From Hospitals , doctors , to banks and now schools.
Every profession has become salesman

 

[nongaddarliberal]

This is a very bad culture deveoping in India called Misselling.
From Hospitals , doctors , to banks and now schools.
Every profession has become salesman

Related to this is the out of control spending habits of the Indian middle class and decreasing savings rates today. Everyone wants to spend on luxury items and take multiple EMI's, which is a disturbing copy of western spending patterns. Our middle class is disregarding Indian conventional wisdom on saving 30% + of your salary and not buying unnecessary garbage.

Everyone is under the false belief that consumer spending leads to a better economy, whereas thats not true for a developing country. India needs to invest more, not spend everything on consumer items. Investments can come from domestic savings, which will then be used by banks to give out as loans to viable recipients, or from investing in mutual funds.

Beyond the top 1%, nobody should be buying 30 lakh priced cars, or spending anything more than 1 lakh a month. Let these useless luxury businesses such as fancy schools, spas, expensive holidays etc crumble. Let this money be put into banks and investments which will give much higher returns in the future as well as encourage productive employment in sectors that are worth the investment (factories, ports, R&D facilities, AI, robotics, CNC, infrastructure etc).

 

[sameer3694]

How India Can Take China’s Growth Crown

If India hits all the right economic notes it could lead global growth by 2028.

www.bloomberg.com

https://archive.ph/3oQ32

Apple Awas Yojana: Apple ecosystem pivots to housing factory workers after job boom

Government officials told ET that Apples contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning homes for their employees. These are being built under a public-private partnership scheme in the largest such private sector initiative. Over 78,000 units are to be...

economictimes.indiatimes.com

Labour reforms. (Bill passed in 2020, but not notified yet.)

Labour codes may top new govt’s 100-day plan

Social security for informal sector workers, shift toward living wages likely to be part of near-term agenda. Insiders reveal that the upcoming government, led by the Bharatiya Janata Party (BJP), may prioritize the swift implementation of streamlined labor codes within its first 100 days...

economictimes.indiatimes.com

 

[thebakofbakchod]

How India Can Take China’s Growth Crown

If India hits all the right economic notes it could lead global growth by 2028.

www.bloomberg.com

https://archive.ph/3oQ32

Apple Awas Yojana: Apple ecosystem pivots to housing factory workers after job boom

Government officials told ET that Apples contract manufacturers and suppliers, including Foxconn, Tata and Salcomp, are planning homes for their employees. These are being built under a public-private partnership scheme in the largest such private sector initiative. Over 78,000 units are to be...

economictimes.indiatimes.com

View attachment 247539

Labour reforms. (Bill passed in 2020, but not notified yet.)

Labour codes may top new govt’s 100-day plan

Social security for informal sector workers, shift toward living wages likely to be part of near-term agenda. Insiders reveal that the upcoming government, led by the Bharatiya Janata Party (BJP), may prioritize the swift implementation of streamlined labor codes within its first 100 days...

economictimes.indiatimes.com

Finally they are learning a thing or 2 from the chinese. I have never understood why Indian factories or industrial parks do not have dorm/housing facilities. This is one of the largest contributors to slums in every city in the country. An average factory worker earns 10-20k max a month and has migrated a long distance from his village. But most factories do not have housing support/options. Do you think he can rent a place in the city with his meagre salary? Of course not, so he and his few buddies sets up a hut either right next to the factory or in the vicinity where there is open space. Nearly all factories in China/taiwan and now vietnam come with on-site dorms (in the case of vietnam they are within the industrial park instead). This is something we need to adopt. The government can give out grants/funds to build this instead of free bus tickets. it will givethe labour some dignity, and at the same time reduce slumification of cities.

 

[Coalmine]

Finally they are learning a thing or 2 from the chinese. I have never understood why Indian factories or industrial parks do not have dorm/housing facilities. This is one of the largest contributors to slums in every city in the country. An average factory worker earns 10-20k max a month and has migrated a long distance from his village. But most factories do not have housing support/options. Do you think he can rent a place in the city with his meagre salary? Of course not, so he and his few buddies sets up a hut either right next to the factory or in the vicinity where there is open space. Nearly all factories in China/taiwan and now vietnam come with on-site dorms (in the case of vietnam they are within the industrial park instead). This is something we need to adopt. The government can give out grants/funds to build this instead of free bus tickets. it will givethe labour some dignity, and at the same time reduce slumification of cities.

Worker and employees ki full gend mari jaati hai India mein

 

[Concard]

"maybe" "likely" "anonymous sources".. what kind of journalism these morons practice? DFC won't be shelved. For India to progress and bring down logistics costs which will in turn make India a manufacturing hub, proposed DFC's have to be completed. Let GoI come out with official statement.

Yesterday a haramkore wrote GoI will cancel remaining DFC projects. And this is the news today

₹2-lakh-cr dedicated freight corridors on track

Indian Railways plans three new dedicated freight corridors to improve freight movement and passenger train efficiency.

www.thehindubusinessline.com

.

Indian Railways Unveils Rs 2 Lakh Crore Plan for Three New Dedicated Freight Corridors Spanning 4,300 Km

Indian Railways is considering plans for the development of three additional dedicated freight corridors, marking a significant leap in the country's logistics infrastructure

swarajyamag.com

I fucking hate these dalal journalists. Suvvar scum of the first order.

 

[Tejbrahmastra]

 

[Tejbrahmastra]

 

[thebakofbakchod]

Yesterday a haramkore wrote GoI will cancel remaining DFC projects. And this is the news today

₹2-lakh-cr dedicated freight corridors on track

Indian Railways plans three new dedicated freight corridors to improve freight movement and passenger train efficiency.

www.thehindubusinessline.com

.

Indian Railways Unveils Rs 2 Lakh Crore Plan for Three New Dedicated Freight Corridors Spanning 4,300 Km

Indian Railways is considering plans for the development of three additional dedicated freight corridors, marking a significant leap in the country's logistics infrastructure

swarajyamag.com

I fucking hate these dalal journalists. Suvvar scum of the first order.

No both news can be true. You see, railway baboons have been against DFCs from day 1, because they will lose a large amount of direct revenue to DFCCIL. They were many articles on this in the past. The same baboons did everything they can to scuttle train 18s too. IR bureaucracy needs to be purged inside out in the next term. So the news is likely from some high ranking baboon who wants to get rid of DFCs for his own personal benefit

 

[karn]

Plastics and mechanical parts are down .

 

[zathura98]

No both news can be true. You see, railway baboons have been against DFCs from day 1, because they will lose a large amount of direct revenue to DFCCIL. They were many articles on this in the past. The same baboons did everything they can to scuttle train 18s too. IR bureaucracy needs to be purged inside out in the next term. So the news is likely from some high ranking baboon who wants to get rid of DFCs for his own personal benefit

i see in near future unknown men striking these corrupts too.

 

[Crazywithmath]

Plastics and mechanical parts are down .

Comparison is b/w FY 2022-23 vs FY 2023-24 (April-Jan).

Only plastics seem to struggling a bit.