Tracking Indian Economy till general elections 2019

[Screambowl]

welcome back @Sakal Gharelu Ustad

Logic is simple regarding why the downfall is happening. The economy is under reforms which never happened in the past 70 years. Industrial laws are being made, crackdown on illegal money generation ... etc etc.

These reforms will make sure that ease of banking is right set. Industries can be set and allocation of contracts, land, etc is digitalise.

We already know that railway track electrification has been doubled. This never happened past 70 years. It was really slow.

Let's give them some time to bring change which we have always shouted for every day and now when this is happening we have problem.

 

[YagamiLight]

welcome back @Sakal Gharelu Ustad

Logic is simple regarding why the downfall is happening. The economy is under reforms which never happened in the past 70 years. Industrial laws are being made, crackdown on illegal money generation ... etc etc.

These reforms will make sure that ease of banking is right set. Industries can be set and allocation of contracts, land, etc is digitalise.

We already know that railway track electrification has been doubled. This never happened past 70 years. It was really slow.

Let's give them some time to bring change which we have always shouted for every day and now when this is happening we have problem.

Yes, Bhakths are the only people in whole world, except perhaps chicom 50 cent trolls, who can claim that economic reforms will slow down the economic growth , when done properly. @Sakal Gharelu Ustad These people deserve the italian dancer and the tea seller

Truth of the matter is, none of the proper reforms needed to make the economy grow faster or economic growth quicker has happened while bull shit laws and policies which will reduce the economic growth have been implemented from demonetisation, GST implementation at sky high rates to Minimum wage laws. Thats why Economic growth is in the gutter. Stop giving pathetic lolcow excuses

 

[Screambowl]

Truth of the matter is, none of the proper reforms needed to make the economy grow faster or economic growth quicker has happened while bull shit laws and policies which will reduce the economic growth have been implemented

I give you a simple example of underground mining.

You know to mine a region , according to the current law, the land needs to be bought. And there happens a lot of crony capitalism, corruption, etc when the land is allocated for the sale. The govt along with the mafia, sells the land at lower price than actual, the mafia takes over the land, depletion of forest takes place, giving rise to naxal problem and there you have economy slowdown.

So if it is digitalised, then such corruption can be reduced. And India is not yet fully digitalized.

 

[pruthvi24]

Piyush goyal should have become finance minister jaitley is turning out be bigger disappointment than javdekar

 

[Sakal Gharelu Ustad]

I give you a simple example of underground mining.

You know to mine a region , according to the current law, the land needs to be bought. And there happens a lot of crony capitalism, corruption, etc when the land is allocated for the sale. The govt along with the mafia, sells the land at lower price than actual, the mafia takes over the land, depletion of forest takes place, giving rise to naxal problem and there you have economy slowdown.

So if it is digitalised, then such corruption can be reduced. And India is not yet fully digitalized.

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

 

[Sidd]

My 2 cent on the topic:-
Yes, GDP is slowing down, demonetization had short term ill effect on the economy as per say.GST too has a similar effect but things will move forward from here, GST effect will take 3-5 months to settle.
GST will finally give level playing field to small enterprise & due to demonetization rich people are in rush to invest their illegal wealth in some kind of business or something(not in land though).
And yes Modi's Make in India campaign is somewhat a hit especially for MSMEs but a hell lot of more reforms is needed like removing license/permits Raj, financing options(most imp.) & much more.
I think we should discuss about the reforms govt. could/should implement.

 

[Mangal]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

How can you compare economy of 19th century with 21st century.? No one in his right mind can think that economic competitiveness can be achieved in today's scenario by ignoring technological advancements.

 

[ezsasa]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

Digitisation is not the solution, but rather a tool for indian government to govern optimally.
since inception indian state has always been underwhelmed by it's lack of resources. digitisation offers a chance to mitigate some challenges, and lot's more to be done.

but within Govt digitisation has a lot of resistance from Govt babus, because where ever digitisation goes it breaks babu fiefdoms.

i did a project in 2006-07 for Chattisgarh govt for an organisation called coal miners provident fund organisation (CMPFO). this was during shibu soren's time as CM. lot's of corruption within the organisation. govt spent a lot of money to digitise their processes. since it was being tracked from chief minister's office, babus couldn't stop us from implementing a new system.
Project done well, even it came in papers having nice words to say about Chattisgarh govt etc.

within six months babus ensured nobody uses the system after spending crores of rupees on it.

The thing was this CMPFO is the provident fund organisation for miners in all of the country, this organisation was handling provident fund for a million miners at that time. miners are usually uneducated and high mortality rate. when a miner dies he gets around 5-6 lakhs of PF, but because he is uneducated he or his family does not know that they would get such an amount after his death. these babus used to create fictitious people and loot the money by getting thumb impressions of widows. this loot went into hundreds of crores.

to balance my own argument, i have also done govt projects where digitisation was a success and corruption has come down and efficiency went up.

 

[Screambowl]

was west digitized before being developed?

there wasn't IC or binary technology in 20's
.................................................................

 

[Project Dharma]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

It is a way to scale governance. West had much less population than India before being developed. Good luck governing India using pen and paper with modern day population.

 

[Moroboshi]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

The west wasn't working with the scales of population we have now.

 

[Flame Thrower]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

Ustad ji, mass usage of computers started from 1980's and 90's. That's the time when West started use computers in mass scale.

Do you care to disagree!?

My answer is West was developed before being digitalized.

So compare India with a country which is not developed before digitalization, if you do so then you'll get your answer.

 

[Flame Thrower]

Doubel post.....................

 

[abingdonboy]

We do not need growth in terms of GDP but we need a growth in rural sector and rural economy as well. For that we need micro financing through co operative banks and NBFCS. This government is focusing a lot on micromanaging. Actually we have taken many major economic decisions in last three years and hence economy is getting used to with new systems. In such a changing environment, economy can not perform at its full potential. I think that now many major economic decisions are taken and and now it is the time for consolidation. Believe me and mark my words here. From Quarter 3 on FY 2017-18, or latest by Quarter 4, you will witness a rapid economic growth and rural economy will rise like anything though I am not sure how many employment shall be generated in organised sectors. We have laid down a strong foundation of flourishment of economic development and results shall be visible by the end of current financial itself.

The Govt has laid a lot of good foundations that will let the rurual economy flourish IMHO just need to see these factors come together and really see the growth take off. In theory all these steps will have allowed the rurual population easier acsess to finance/banking, internet, electricity and also streamlined logistics.

 

[hit&run]

West was more banked and formalised if not digitised. Not to mention they were more advanced in technology that involved financial literacy and accounting that rest of the planet followed. India is still catching up.

 

[ezsasa]

on the point of west being technologically advanced, whenever there is and was prosperity of land and people, science and arts flourish. America was a prosperous land rich in resources to begin with, which gave them a headstart. europeans were rich off their own land for a while, but as soon as their dividends from their lands diminished they started conquering other lands so their flow of wealth continued.

As far as we are concerned, i am sure all of us agree that technological advances made after economic liberalisation increased in pace. my simple point is, as India gets prosperous scientific dividends will come. only thing current generation needs to do is to ensure is economic progress is not derailed for petty grudges and politics.

 

[Indian Sniper.001]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

West started developing after the Industrial Revolution. The population was relatively small, the population pockets were off a small area. But, as they grew, they made technological progress which went hand-in-hand with their economic progress and thus with development.
But now, it would be foolish to think that economic progress can be done without technological help, and mainly 'digitalization'. It is simply impossible to cover the population, to remain apprised of fellow competitors, and other factors without digitalization.

Let's not get into petty debates, where the answer is obvious.

 

[IndianHawk]

Digitization is not panacea!!

Answer simple question- was west digitized before being developed?

Here is another simple question - was west electrified before being developed ??
Answer is yes. And electricity despite being new , unknown and difficult technology actually paved the way for Western development.

Digitization is our road for faster development. Just like electricity we don't even know now how revolutionary could it really be!!!

 

[HariPrasad-1]

What do you guys think about the taxes? Isn't gst rates to high? While the whole world is selling fuel for cheap modi is making money on it. Ultimately the middle class is being screwed left and right in my opinion. I personally can't keep up with the taxes neither does everyone around me. Before I use to pay total of 42 percent on taxes for my rental income. Now I'm almost paying 58 percent. Middle class lives have just gone berserk.

GST rates are not too high at all. Earlier 2 taxes were applicable. State tax and Center tax. State tax was applicable on Price + Central tax (Excise and Service tax) i.e if 100 Rs goods is manufactured than 12.5% Excise duty is applicable making it 112.5. Now VAT shall be applicable on 112.5 @ 5%, or 15% or other slabs as applicable. In state sales, center tax cenvat credit was not available. Now the tax credit flows seamlessly. GST is a revolutionary tax reform and you will see a huge hike in GDP figure from third quarter of this year and stealing of duties shall stop to a large extent and all informal economy shall come in formal sector. You will also witness a big jump in Tax revenue collection and government treasury shall flood with money. In first year itself, it has surpassed the target collection of Rs 88000 crore by 4.5%. GST is simply beautiful.

 

[HariPrasad-1]

The Govt has laid a lot of good foundations that will let the rurual economy flourish IMHO just need to see these factors come together and really see the growth take off. In theory all these steps will have allowed the rurual population easier acsess to finance/banking, internet, electricity and also streamlined logistics.

I have a lots of Idea of rural development and I wish to work in this area. Some economic compulsions prevents me to do that.