It's official: India is the world's fastest growing big economy at 7.4

[Singh]

Re: It's official: India is the world's fastest growing big economy at

End of conversation ....

Next time bring facts and figures to the debate not anecdotal evidence from your friends in telangana


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[ezsasa]

Re: It's official: India is the world's fastest growing big economy at

Next time bring facts and figures to the debate not anecdotal evidence from your friends in telangana


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Bhai Saab, don't behave like 50 cents who go on stretching the conversation for the sake of it. Please read my last post and the one before that for my point of view and clarity.

 

[karn]

Re: It's official: India is the world's fastest growing big economy at

Yeah given false growth so that they could be mocked further.

Yes just like redefining the poverty line this would have hurt them more .

100 crore is chillar and most of these bank accounts
Have had zero transactions.

One billion USD works out to Rs 6000 crores
The number back in november was Rs5600 crores not 100 crores.

He is also offering 5000 od, 30000 insurance and 100000 accident cover.

A potential money blackhole.

True .

Direct benefits transfer scheme was already a UPA pipedream.

Adhar linked subsidies to the bank.

UPA opened 290milion banks accounts for the same too

UPA Tried to start direct cash transfers but backed down due to opposition from their own allies.
Direct cash transfer for LPG has already started .

Re-auctioning which was expected after coal gate scam came to light.

There is gap between expected and actually doing .

Being mooted since the last decade.

Yes mooted but then great laws like the land acquisition bill and a refusal for changing finance and banking laws to create special trading areas ensured that a large part of the DMIC remained "mooted".

Makes sense if we become rich hippies

. Solar and wind is coming close to the power generation cost of traditional sources and way cheaper than diesel power generation. If we did not jump onto this or try creating solar manufacturing here we would loose out later. We have already lost out a lot to China .

Nope rechristened as Niti ayog - a hybrid of nac and planning commission

End of rigid 5 year plans and platform for CMs . Including their input in center schemes .
NAC was a platform for Sonia cronies filled with champagne socialists whos authority supersede actual elected representatives which formed policies that brought the country to the edge of ruin.
Just because NAC and planning commision are now gone and Niti ayog now stands does not mean that the latter replaced the function of the former.

Americans disagree. Read any non Indian newspaper or informed commentator

American and French reactors are roughly between three and two times more expensive compared to Russian and Indian reactors. There is no need to buy their reactors . This was a statement meant to be a facesaver for a totally lack lusture visit by a lame duck president .I agree with you on this .

1 trillion $ market cap sensex grew by 2%

BSE Ltd-Market Capitalisation
From 2013-2014 $ 1,215.42 Billion
to 2014-2015 $1,654.66 Billion

Bs

Just in one raid Rs13000 crores was recovered . But I've not really been following the black money issue.

Please provide reference. Are you talking about FIIs or FDIs ?

http://thebricspost.com/fdi-inflows-into-india-rise-to-42-bn-in-2014/#.VNzDDfmSzFw

 

[Singh]

Re: It's official: India is the world's fastest growing big economy at

Yes just like redefining the poverty line this would have hurt them more .

Agreed

One billion USD works out to Rs 6000 crores
The number back in november was Rs5600 crores not 100 crores.

He wrote 1 billion without specifying currency.

At the moment 115 crores accounts have a total of 9000 crores. And banks have spent over 2000 crores in opening these accounts.

True .

Cheers

UPA Tried to start direct cash transfers but backed down due to opposition from their own allies.
Direct cash transfer for LPG has already started .

Continuation of UPA scheme which NDA will take credit for. Good and bad thing that both parties are broadly similar in outlook and policies.

There is gap between expected and actually doing .

Explain. Re-auctioning was going to happen.

Yes mooted but then great laws like the land acquisition bill and a refusal for changing finance and banking laws to create special trading areas ensured that a large part of the DMIC remained "mooted".

To say that this corridor would be a reality by 2018/19 is a bit far fetched, agreed ?

. Solar and wind is coming close to the power generation cost of traditional sources and way cheaper than diesel power generation. If we did not jump onto this or try creating solar manufacturing here we would loose out later. We have already lost out a lot to China .

Thermal power UMPPs producing power at <1rs / unit. Nuke power minus liability clause will also be producing power cheaply. The GDP multiplier effect of cheap power would be far greater.

Anyways not against "clean" power but not at the expense of cheap plentiful power. India even many decades down the line will be a country which will have one of the lowest per capita availability of energy.

End of rigid 5 year plans and platform for CMs . Including their input in center schemes .
NAC was a platform for Sonia cronies filled with champagne socialists whos authority supersede actual elected representatives which formed policies that brought the country to the edge of ruin.
Just because NAC and planning commision are now gone and Niti ayog now stands does not mean that the latter replaced the function of the former.

NAC was unconstitutiona, doing away with it was necessary. But for practical purposes NITI Ayog is a revamped Planning commission.

American and French reactors are roughly between three and two times more expensive compared to Russian and Indian reactors. There is no need to buy their reactors . This was a statement meant to be a facesaver for a totally lack lusture visit by a lame duck president .I agree with you on this .

Iirc Russian reactor prices have also gone up by 3 times due to liability clause, you can please check this. I posted a news item when Putin was here.

BSE Ltd-Market Capitalisation
From 2013-2014 $ 1,215.42 Billion
to 2014-2015 $1,654.66 Billion

The Gentleman said that the Market cap grew by 20 billion $ . His figure was all wrong.
Tremendous bull run, I wonder till when it'll continue.

Just in one raid Rs13000 crores was recovered .

Which raid was this ?

Black Money that I am talking about is the one that has been "looted" from India and stashed abroad.

Don't tell me you are talking about Bhaiya Thakur thingy.

 

[Hari Sud]

Re: It's official: India is the world's fastest growing big economy at

Cannot give credit to Modi. All these improvements were in the works, only Modi toned up the administration which prevented any slackening. If the next quarter comes higher, then it is credit to Modi. .

 

[karn]

Re: It's official: India is the world's fastest growing big economy at

He wrote 1 billion without specifying currency.

At the moment 115 crores accounts have a total of 9000 crores. And banks have spent over 2000 crores in opening these accounts.

It has now increased to 10500 crores now .
The government expects to save a lot more than just 2000crores from direct transfer schemes .

Continuation of UPA scheme which NDA will take credit for. Good and bad thing that both parties are broadly similar in outlook and policies.

BJP should take credit for well implemented schemes where little money is wasted only after implementing them .Actual implementation is the hardest part of any scheme.

To say that this corridor would be a reality by 2018/19 is a bit far fetched, agreed ?

DMIC itself is a freightline where trains run non stop from the factory to the port and back again . The whole point of this is to stop the companies from bitching about how terrible India infra is and how long it takes them to send their products to port for export .
The "grand" vision was for new industrial zones and even cities to come up to make use of this line . So it depends on your definition of "finished" do you expect new cities to be finished by 2018 or the line to be operational.

Thermal power UMPPs producing power at <1rs / unit. Nuke power minus liability clause will also be producing power cheaply. The GDP multiplier effect of cheap power would be far greater.

Give me source on this as this is very far fetched . One unit is Kwh right ?

Anyways not against "clean" power but not at the expense of cheap plentiful power. India even many decades down the line will be a country which will have one of the lowest per capita availability of energy.

Most people use diesel generators and farmers use diesel pumps cell phone towers also run on diesel generators the security lighting is also done by diesel . To start with all this can be done with solar . There is huge demand of solar all around the world. When one " makes in India" it does not matter where you sell it.

NAC was unconstitutiona, doing away with it was necessary. But for practical purposes NITI Ayog is a revamped Planning commission.

It is different and does not have nearly as much monetary power .

Iirc Russian reactor prices have also gone up by 3 times due to liability clause, you can please check this. I posted a news item when Putin was here.

It is a little more than double . But this is combined with inflation . But even then Areva quoted Rs 9 per unit and westinghouse Rs 12 per unit and both these numbers are from before the nuclear liability act . In contrast Kudankulam 1 sells power at Rs 2.5 per unit and Kudankulam 2 at Rs 3 per unit . Even at Rs 6 per unit it is cheaper than the americans . Indian reactors (per unit) are cheaper than even the Russian reactors.

The Gentleman said that the Market cap grew by 20 billion $ . His figure was all wrong.
Tremendous bull run, I wonder till when it'll continue.

He said mutual funds you said market cap .. oh well.

 

[t_co]

Re: It's official: India is the world's fastest growing big economy at

One other thing to note: China's working age population is actually shrinking, while India's working age population is growing over 2% per year. Were India to actually improve its productivity per worker at the same rate as China, India's GDP growth rate should be 2% higher than China's.

 

[hit&run]

Re: It's official: India is the world's fastest growing big economy at

I remember Arun Shori way before when NDTV used to mock him for dreaming of becoming PM, told Barkha Dutt that people are not good Modi watcher, he will not bring radical changes but his focus would be implementation. He will use the same resources and address policy paralysis. Media and Modi fanfare adding glare to all the new policies/workings as something radical been done then to feed trolls to declare that Modi is a dictator should be grounded.


Niti Ayog looks more healthier with states having more say and participation.

If one can ignore all the nitpicks then Present government's achievement of this fiscal year is to bring down the fiscal deficit to now achievable 4.1% figure. Just after the budget media declared fiscal deficit will never get fixed would rather become worst. Furthermore they did the fear mongering that fixating on fiscal deficit will discourage the investor but GDP as rather shown upward trend.

 

[Arya Desa]

Re: It's official: India is the world's fastest growing big economy at

Judging by history, India will let us down. This 7.5% growth does isn't corroborated by an increase at basic economic benchmarks like export, tax collection, government revenue, etc.

 

[sgarg]

Re: It's official: India is the world's fastest growing big economy at

There is nothing to be happy at 7.4% growth. Indian economy has major deficiencies in manufacturing - in machine building, electronics and chemicals sectors. India has not grown holistically, so is very susceptible to shocks.

The government needs to pay special attention to industrial growth. Unfortunately spending on infrastructure requires cutting down doles. India's investment in productive assets remains low due to high unproductive expenditure of the government. This situation is unlikely to change anytime soon due to political compulsions.

 

[sgarg]

Re: It's official: India is the world's fastest growing big economy at

Modi government is definitely working hard; and I expect to see consistent improvements.

 

[t_co]

Re: It's official: India is the world's fastest growing big economy at

Modi government is definitely working hard; and I expect to see consistent improvements.

Unfortunately structural constraints on the GoI prevent it from really implementing the sort of policies that would really drive growth - especially the following actions:

1. Labor policy - freedom to fire and hire without any government interference
2. Concentrating economic permitting power in a one or two people per location, so businesses only need to deal with one or two people to get approval to do something (instead of the fragmented veto power many different agencies have over businesses today)
3. Drastically simplifying the tax code (not necessarily lowering taxes, just making them much simpler to calculate)
4. Cracking down on businesses that leech off infrastructure without paying fees, tolls, or utility bills
5. Inviting foreign corporations to set up supply chains in the country by creating tax-free export zones with zero environmental or labor law restrictions
6. Opening up protected sectors like retail, foodservice, and agriculture to foreign corporations
7. Ending state subsidies of inefficient industrial companies - e.g. Air India

These policies would be painful and pretty unpopular, and as such, difficult for the GoI to implement no matter who is in power. Ironically enough it would probably be easiest for a Congress/AAP PM with solid leftist credentials to implement these policies, for much the same reason that it is easier for Modi to sign a border deal with China or peace deal with Pakistan - it is always easier for an extremist to reach across the political spectrum than push the ideology the public already is already watching for.

 

[sorcerer]

Re: It's official: India is the world's fastest growing big economy at

1. Labor policy - freedom to fire and hire without any government interference

There is or was no Govt intereference now. There was never especially in Pvt sectors or be it in Govt sectors too.

2. Concentrating economic permitting power in a one or two people per location, so businesses only need to deal with one or two people to get approval to do something (instead of the fragmented veto power many different agencies have over businesses today)

For that special management teams are already in place with countries that has pledged businesses to India.

Modi will set up a Special Management Team within the Prime Minister's Office to deal exclusively with Japanese investment. This special cell will facilitate Japanese investments so that they do not get bogged down in red tape.

Modi's Japan visit: Top 10 initiatives | Business Standard News

China also has a special management team comprising of officials from India and China on it.

3. Drastically simplifying the tax code (not necessarily lowering taxes, just making them much simpler to calculate)

\

The upcoming budget will see a lot of pro industry tax rules..

4. Cracking down on businesses that leech off infrastructure without paying fees, tolls, or utility bills

This is done systematically..taking into account a case by case analysis.

Signalling a clear shift in the Centre's policy, the Narendra Modi Government has recently cracked the whip on the non-performing PSUs. The Government has made it clear that if the need arises, it can go ahead with "euthanasia" for the "sick" undertakings. The NDA Government's move is a deviation from the stand taken by the earlier UPA regime which had kept even the terminally sick PSUs alive by pumping money into them at the cost of the State exchequer for political expediency. Bureaucracy Today brings to its readers an insight of the entire issue.
Bureaucracy India, Govt. of India, Government of India, Ministry, Bureaucrat, Bureaucracy in India

No acchey din: 10 Reasons why 2014 was Annus Horribilis for India's babus

5. Inviting foreign corporations to set up supply chains in the country by creating tax-free export zones with zero environmental or labor law restrictions

Make in India campaign has much of it. But yes the environmental laws and labour law restirctions will be kept in place to save the exchequer of consequences from environment also...the job part... To ensure that the local population gets job than imported workers,. Such move will ensure that only companies that are quality compliant can work in India. Most MNCs of west are quaity compliant.

6. Opening up protected sectors like retail, foodservice, and agriculture to foreign corporations

This again depends on how much it will help the Indian economy than trade!

7. Ending state subsidies of inefficient industrial companies - e.g. Air India

Its already done
Bureaucracy India, Govt. of India, Government of India, Ministry, Bureaucrat, Bureaucracy in India

===

Its not about Congress or AAP or leftists.. its about getting the thing done by the GoI. The current GoI is doing it.
The congress has been in power for so long they did zilch
The leftist west bengal is the prime example of what leftism can do.hence zilch
AAP...Well!! they are new on the block with limited political experience. They did zilch.

 

[sorcerer]

Re: It's official: India is the world's fastest growing big economy at

Duplicate...self delete

 

[amoy]

Re: It's official: India is the world's fastest growing big economy at

Don't get why @t_co perceives Modi as an extremist?! Nationalistic and populistic he flags himself by rhetoric and posturing. However his moves remain practical so far when all that ridiculous Modi worshipping is brushed aside. But is peace with China on his agenda? I don't think so! The whole fantasy of India as a counterweight to China is built on the cliff of confronting China. Otherwise India wouldn't have gathered so much spotlight.

As for AAP it's natural for the new broom to act more aggressive as a new arrival at the bazaar so as to attract attention.

Nowadays many Chinese patients r buying cheap Indian medicines, which Chinese pharm. firms r unable to produce due to patents, by mail order. This is a steadily growing field of interactions.

~ ~Happy Ram Year!~~ from tapatalk

 

[Ray]

Re: It's official: India is the world's fastest growing big economy at

These policies would be painful and pretty unpopular, and as such, difficult for the GoI to implement no matter who is in power. Ironically enough it would probably be easiest for a Congress/AAP PM with solid leftist credentials to implement these policies, for much the same reason that it is easier for Modi to sign a border deal with China or peace deal with Pakistan - it is always easier for an extremist to reach across the political spectrum than push the ideology the public already is already watching for.

Solid leftist as in Greece.

As the Chinese company that is running the port in Greece and what has hit them!

Mao was an extremist. He could not push the ideology on Deng and his camp followers, but he sure could push the Chinese borders.

 

[salute]

Re: It's official: India is the world's fastest growing big economy at

The funny thing is that this GDP calculation gives the last UPA government a higher annual rate of growth than any BJP administration, prior or current.

if the statistics are authentic, then it's a pity that the last administration was brought down.

it seems that the India congress party is not that so incompetent as many Indian posters have implied.

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yeah maybe we should worship the giving-citizenship-to-paki-bangladeshi-for-vote-congress for another 60 years.

 

[t_co]

Re: It's official: India is the world's fastest growing big economy at

There is or was no Govt intereference now. There was never especially in Pvt sectors or be it in Govt sectors too.

You seem to be misinformed. Indian labor laws are among the most restrictive in the G20.

Can India Navigate the Tough Terrain of Labor Law Reform?
Why the New Labor Law Reforms Make India Fertile for Jobs

Labor Laws Are Archaic

India's labor laws — largely unchanged from how the British wrote them — have a negative view of private sector employers. This view believes that all employers are exploiters; that most employees have no alternative employment options; that most employers are big companies, and that shareholders pay salaries not customers. This has led to four painful defects in India's labor market: 12% manufacturing employment (the same as the post-industrial U.S.), 50% agricultural employment (240 million Indian produce less food than four million Americans), 50% self-employment (the poor cannot afford to be unemployed, so they are subsistence self-employed), and 90% informal employment (100% of net job creation since 1991 has happened informally.)

India's labor laws are a mess. It is practically impossible to comply with 100% of them without violating 10% of them."‰Twitter Most employment contracts are marriages without divorce; on paper you can't get rid of an employee once you have hired him or her. The multiple definitions of wages and workers create massive opportunities for corruption for the army of labor inspectors. The law mandates that employers confiscate 49% of payroll at source for various so-called employee benefits for low-wage workers. Since most employees can't live on half their salary, they choose informal employment. Trade union laws are badly written and the politicization of trade unions and criminalization of politics are a toxic combination. This means that most enterprises in India are sub-scale (85% of manufacturing comes from enterprises with less than 50 employees) and most enterprises are not companies (only 900,000 of the 63 million enterprises in India are companies and only 7,500 of them have a paid-up capital of more than $2 million). India is a nation of informal enterprise dwarfs rather than formal corporate babies.

Employment needs to be made "at-will" and all employees need to have a "right-to-work". Basically, the government needs to make it so that there are no legal restrictions on firing an employee - a business can fire an employee for any reason at any time without facing legal restrictions, and likewise should make it illegal for any union to formally or informally attempt to restrict an employer from hiring non-union employees. These two things will unlock the potential of India's labor pool - otherwise, India's 200 million new entrants into the job market will stay underutilized and underproductive.

For that special management teams are already in place with countries that has pledged businesses to India.

China also has a special management team comprising of officials from India and China on it.

I'm not referring to just foreign businesses here. Go ask any CEO of a regional manufacturing firm in India how many babus from various state and national agencies he has to bribe to keep them from shutting down his business - chances are his response will tally in the dozens. This is plainly retarded. Concentrate economic regulatory power in 1 or 2 people per state. Give those people authority to execute any other officials leeching resources from businessmen for reasons of "anti-corruption". This simplifies the regulatory structure and makes the economy more efficient.

The upcoming budget will see a lot of pro industry tax rules..

Pro-industry tax rules is not the same as a simplified tax structure. Businesspeople would much rather see a simple tax structure than one that hands them sops. The upcoming budget, sadly, is still laden with complex reporting requirements and many different sub-categories of taxation that offer hidden subsidies to well-connected people.

This is done systematically..taking into account a case by case analysis.


No acchey din: 10 Reasons why 2014 was Annus Horribilis for India's babus

What I'm referring to is different - not bureaucratic corruption but businesses that abuse infrastructure for free. For example, the PC café that operates off an illegal power connection to get free electricity; the leather tannery that drills its own wells and steals groundwater instead of hooking itself up to the city water pipes and paying for water; the trucking company that bribes officials to move overloaded trucks or avoid paying tolls. These acts make it difficult for the government to recoup its investment into infrastructure and makes future infrastructure investment less likely (since rational investors will avoid them); also, when one business gets away with this, then market competition drives all businesses to eventually act this way.

Make in India campaign has much of it. But yes the environmental laws and labour law restirctions will be kept in place to save the exchequer of consequences from environment also...the job part... To ensure that the local population gets job than imported workers,. Such move will ensure that only companies that are quality compliant can work in India. Most MNCs of west are quaity compliant.

Why would any country move operations to India if not to use Indian labor? It's not like India has great infrastructure or natural resources that otherwise attract businesses. Any "hiring requirements" would be pretty much unnecessary.

This again depends on how much it will help the Indian economy than trade!

If thousands of Indian consumers can get cheaper goods at each new Wal-Mart or Carrefour, it is worth putting some small shops out of business.

Its already done
Bureaucracy India, Govt. of India, Government of India, Ministry, Bureaucrat, Bureaucracy in India

No it isn't. There are still insane subsidies going on a myriad of Indian industries. Air India is but one example...

===

Its not about Congress or AAP or leftists.. its about getting the thing done by the GoI. The current GoI is doing it.
The congress has been in power for so long they did zilch
The leftist west bengal is the prime example of what leftism can do.hence zilch
AAP...Well!! they are new on the block with limited political experience. They did zilch.

The current GoI is trying, but they can't do it, not absent some sort of change in India's governance structure.

 

[sorcerer]

Re: It's official: India is the world's fastest growing big economy at

You seem to be misinformed. Indian labor laws are among the most restrictive in the G20.

Can India Navigate the Tough Terrain of Labor Law Reform?
Why the New Labor Law Reforms Make India Fertile for Jobs



Employment needs to be made "at-will" and all employees need to have a "right-to-work". Basically, the government needs to make it so that there are no legal restrictions on firing an employee - a business can fire an employee for any reason at any time without facing legal restrictions, and likewise should make it illegal for any union to formally or informally attempt to restrict an employer from hiring non-union employees. These two things will unlock the potential of India's labor pool - otherwise, India's 200 million new entrants into the job market will stay underutilized and underproductive.
.

Restrictions are in place to protect employee from slavery and abuse. There are unions, but things seemed to have picked up a bit as we see less strikes by labour unions.

I'm not referring to just foreign businesses here. Go ask any CEO of a regional manufacturing firm in India how many babus from various state and national agencies he has to bribe to keep them from shutting down his business - chances are his response will tally in the dozens. This is plainly retarded. Concentrate economic regulatory power in 1 or 2 people per state. Give those people authority to execute any other officials leeching resources from businessmen for reasons of "anti-corruption". This simplifies the regulatory structure and makes the economy more efficient.


Pro-industry tax rules is not the same as a simplified tax structure. Businesspeople would much rather see a simple tax structure than one that hands them sops. The upcoming budget, sadly, is still laden with complex reporting requirements and many different sub-categories of taxation that offer hidden subsidies to well-connected people.

This is done systematically..taking into account a case by case analysis.

1 or 2 people handling regulation is a burden. its not practical. When we are talking about industries and the diversity of it it would require clearance from a variety of departments and regulatory bodies. So naturally there is a process. There is no one size fit all payjamas when it comes to industry clearence.

What the GoI is currently engaged in is to push the files and process online to make it more transparent. This ensures better coordination among departments and the client. Such moves will automatically curb corruption to an extent.

Simplified tax structure is something we all prefer. Well.. I suppose this has been a debate for some time and we will seee some changes in due time and over the time.

What I'm referring to is different - not bureaucratic corruption but businesses that abuse infrastructure for free. For example, the PC café that operates off an illegal power connection to get free electricity; the leather tannery that drills its own wells and steals groundwater instead of hooking itself up to the city water pipes and paying for water; the trucking company that bribes officials to move overloaded trucks or avoid paying tolls. These acts make it difficult for the government to recoup its investment into infrastructure and makes future infrastructure investment less likely (since rational investors will avoid them); also, when one business gets away with this, then market competition drives all businesses to eventually act this way.

Yes, These micros incidents will accumulate a larger lag. There are various departments and compliance agencies which are looking into it and booking such illegal affairs.
Such incidents happen everywhere to an extent..Cant work a stricter regulation its not realistic. If regulations was in place would China see such enormous industrial growth?
There are certain compromises based on a certain threshold. This is reality.

Why would any country move operations to India if not to use Indian labor? It's not like India has great infrastructure or natural resources that otherwise attract businesses. Any "hiring requirements" would be pretty much unnecessary.

This is a blind generalization. India has infrastructure and its building and adjusting more of it. Initiatives by the current GoI is seeing businesses picking up. What the industry needed was a pro active poitical catalyst. Industry got it now.
The Govt mechanism needed much pro active engagements with its business community.The current GoI did just that.

Team Narendra Modi readies itself to fix problems facing Indian economy - Business Today
What the current govt is engaged is in empowering key players in a reguatory system to take quick decision.

If thousands of Indian consumers can get cheaper goods at each new Wal-Mart or Carrefour, it is worth putting some small shops out of business.

Life will always find a way. Businesses online or offline will adapt to changing circumstances.

No it isn't. There are still insane subsidies going on a myriad of Indian industries. Air India is but one example...

My point is...such moves which Congress govt was putting on simmer is now the priority of the new GoI. The current NDA govt has made strides in this regard to curb subsidies to underperforming PSU's and industries.

The current GoI is trying, but they can't do it, not absent some sort of change in India's governance structure

YOu cant wish for Utopia..
The happy endings happen at the last page in fairy tales.. ain it?

So far the current GoI is realistic about their priorities and is setting the course right. We will see the changes in numbers soon.

 

[mattster]

Re: It's official: India is the world's fastest growing big economy at

My quick 2 cents here: Any kind of regulatory overhaul of the Labor code is impossible unless it goes hand in hand with regulatory enforcement for those who cut corners.

The problem in India is that there is no enforcement and so much corruption in the what little enforcement there is, which is why people need unions and cradle-to-grave job security because there is no else to check the companies, busuinesses and owners who abuse or game the system.