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Modi sarkar economic reforms/governance performance thread


FischerTal

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you do realise these institution create jobs right? One does not need to enrol to feel the benefits. What would you have? A farmer holding 4 acres of land highly dependent on the price of the crop he produces and the rains. or an ex farmer who works as a peon or a compounder in a university or hospital. Regularly drawing x amount of income. In our village near Dhule, half the farmers have left the land to work as peons or construction workers in the city of Nashik. Their land sits there idle.
In fact, most of the current generation kids of farmers don't even want to do farming. Farming is tedious, unpredictable and the returns (even in favorable weather) are still meager. We need less farmers and better farm yield.
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Ok so today Narendra Modi's govt passed the land swap agreement with Bangladesh in Parliament. A sad day when India loses territory.. don't understand why Congress supported it. They should have opposed it, and then played politics with it at least till the Assam elections. By publicly thanking the opposition, Modi has spread the blame for this so that the Congress is not able to make it an issue in the Assam elections.

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In fact' date=' most of the current generation kids of farmers don't even want to do farming. Farming is tedious, unpredictable and the returns (even in favorable weather) are still meager. We need less farmers and better farm yield.[/quote'] yup now i cant say much for the rest of India but this is what i noticed when I visited my village near Dhule in Maharashtra was Farmers in general tend to supplement their income post sowing season with other work. As i mentioned a lot of them are painters for example in nashik or involved in construction. So they do hold down multiple jobs. In our village nearly every farmer has a buffalo herd which is used for milk and even beef to places in mumbai and surat. The buffelos are slowing becoming the mainstay of the village economy. The entire family is involved in all this. Mothers sisters sons fathers etc. The youth very much are looking for part time work. We hold a small holding of about 5 acres in the village (or atleast my father does, dont know about the legality of it as he is a briish citizen now). But atleast in name we hold it. 4 of the neighbouring farms their sons went to mumbai/nashik to work in construction, only to return to the village for the harvest. Now these people come to mumbai they earn about say Rs 300 a day of which about Rs100 a day goes in upkeep (food lodging etc). They work for about 6 months in the city and 6 months on their farms. Together i think the family earns about 1-1.5lakh a year. If they manage to work full time as a compunder or a peon etc in a place near their village, these people wont have to leave home. Provided their farm is not taken over they can work nearby and still help in tilling the land needed during the sowing and harvesting seasons. Beyond these 3-4 months its not that hard.
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yup now i cant say much for the rest of India but this is what i noticed when I visited my village near Dhule in Maharashtra was Farmers in general tend to supplement their income post sowing season with other work. As i mentioned a lot of them are painters for example in nashik or involved in construction. So they do hold down multiple jobs. In our village nearly every farmer has a buffalo herd which is used for milk and even beef to places in mumbai and surat. The buffelos are slowing becoming the mainstay of the village economy. The entire family is involved in all this. Mothers sisters sons fathers etc. The youth very much are looking for part time work. We hold a small holding of about 5 acres in the village (or atleast my father does, dont know about the legality of it as he is a briish citizen now). But atleast in name we hold it. 4 of the neighbouring farms their sons went to mumbai/nashik to work in construction, only to return to the village for the harvest. Now these people come to mumbai they earn about say Rs 300 a day of which about Rs100 a day goes in upkeep (food lodging etc). They work for about 6 months in the city and 6 months on their farms. Together i think the family earns about 1-1.5lakh a year. If they manage to work full time as a compunder or a peon etc in a place near their village, these people wont have to leave home. Provided their farm is not taken over they can work nearby and still help in tilling the land needed during the sowing and harvesting seasons. Beyond these 3-4 months its not that hard.
These are the small and marginal farmers who struggle to make ends meet .They are always willing to sell their to move on .So why scrap the 80% consensus clause when they are willing to sell in the first place . It is scrapped to allow any corporate to just grab fertile farming lands where people refuse to sell but now have no choice . Also in most of these S&M farmers tend to lease the land and do agriculture .Now with no SIA they won't get any relief either .
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Suppose the Government wants to lay a high speed train line from say Delhi to Mumbai' date=' do you want the Government to take consent from 80% of villagers of all villages that this line passes from?[/quote'] I want the Government to do SIA , compensate both farmers and Agri labours who depend on it for life and actually put it to use . 53% lands acquired by Govt projects were laying waste in TN for instance becoz of various issue .Only 8% of projects in India are delayed in due land acquisition problems .So why completely scrap it rather than just reduce it 50% or something? So we want to build a train line so just make thousands of Agri labours who depend on it for livelihood jobless without any compensation?
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PM Narendra Modi to Take Chief Ministers to China to Underscore 'Cooperative Federalism'

New Delhi: During his trip to China next week, Prime Minister Narendra Modi will be accompanied, sources said, by the chief ministers of three or four states - a major gesture by Mr Modi, officials said, to "put his vision of cooperative federalism put into practice in foreign policy for the first time, by involving states in international engagement." The PM will spend from Thursday to Saturday in China; sources said President Xi Jinping and he will announce a new initiative for dialogue between regional leaders of both countries. Mr Modi will travel to Beijing, Shanghai and the historic northern city of Xian. The focus of his trip will be largely on business. China is India's biggest trading partner with two-way commerce totalling close to $70 billion. But India's trade deficit with China has soared from just $1 billion in 2001-02 to more than $40 billion
http://www.ndtv.com/india-news/pm-narendra-modi-to-take-chief-ministers-to-china-to-underscore-cooperative-federalism-761494?pfrom=home-lateststories If this happens it will be a really good initiative.
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Indian industry is barking up the wrong tree in criticising Prime Minister Narendra Modi's government for its woes, instead it should focus on setting its house in order, says KV Kamath, chairman, ICICI Bank. The business climate has changed under Modi with few complaining about a backlog in Delhi unlike the previous government where frequent visits were necessary to get projects moving, says the banker who shook the Indian banking industry from its slumber with his hard-driving style and use of technology in the first decade of this century. Businesses are not exploiting the level playing field created by the government as they are saddled with debt, he said. Any other reason that they come up with are imaginary, he added. "There is no policy paralysis," Kamath told ET in an interview. "I can say this explicitly. I have had clients in the first six months come and tell me there is nothing pending in Delhi. These were large clients who always had something pending. This time there is no external shock. (It is) their own domestic woes in terms of bottom line, or debt. That I clearly see in their balance sheets. That, I see as the clear reason. All other reasons are imaginary reasons.' The ascension of Modi to the position of prime minister was greeted with euphoria among Indian business leaders. But with the administration approaching its first anniversary, disillusionment is taking hold. Many business leaders say Modi has failed to deliver them from the morass of red tape even as a sluggish economy continues to take its toll on the bottom line. Former disinvestment minister Arun Shourie recently said economy policy was 'directionless.' The key bill, which will make it easier for industry to buy land, is caught in a political battle with Congress Vice-President Rahul Gandhi accusing the government of being in the pockets of industrialists. Indian companies, especially infrastructure builders which have raised huge debt to build roads and power plants, sectors which have been afflicted by policy paralysis, are blaming the government for not doing enough. Fitch, a rating company, says one in three among the 500 largest corporate borrowers do not have enough margins to support even its interest payment. But Kamath says many issues such as the Bill to acquire land are "work in progress". Interest rates, which have remained high for the past three years, are among the reasons that demand is not picking up. Unless demand picks up, corporate earnings won't recover. "Mood is directly proportionate to your bottom line," says Kamath. "If your bottom line is not happening, your mood is sombre. At this point of time, bottom line is hurting, so the mood is sombre." As far as the consumer is concerned, interest rates would have to come down by 200 basis points to move the needle. In the area of infrastructure, banks are moving aggressively to take over assets from promoters who are struggling to find abler hands. Overall, fiscal 2015 earnings per share growth was around 8.5% based on companies that have announced earnings. For fiscal 2016, earnings estimates have been sliced to 18.4%, from 18.9% a week earlier, says Barclays. Despite slow earnings growth, and complaints that the government is not doing enough, the Bills enabling near privatisation of coal mining, permission to mine other minerals and higher investment in insurance by foreigners have been passed by the Parliament. The decade-old Goods and Services Tax has been passed by the Lok Sabha. Furthermore, international investors have been lured with quicker clearances and new avenues of economic growth, such as higher spending by defence and railways, is also being pushed, Kamath said. "You should have faith in the global positioning that India is having under this prime minister," says Kamath. "You should have faith that legal action wherever is required is being taken on a host of issues. Playing field which is being conducive is being created. That much of a signal is enough for entrepreneurs to come and invest. Clearly if demand and bottom line are not happening, you are having woes with the banks. That is creating the sombre atmosphere.
http://economictimes.indiatimes.com/news/economy/policy/industry-wrong-in-criticising-modi-government-for-its-woes-says-kv-kamath-chairman-icici-bank/articleshow/47195210.cms Some tough words by a top class banker to the industry. He does suggest lowering of rates by as much as 2% to boost growth & govt playing a key role in building infra.
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Some tough words by a top class banker to the industry. He does suggest lowering of rates by as much as 2% to boost growth & govt playing a key role in building infra.
It's very strange that repo is still at around 7.5%. I mean, govt. hasn't had to deal with rising intl. g&s prices. Makes very little sense to still keep it that high. Corruption has gone down as well. It's's not even foreign companies that suffer bcoz of high lending rates. Sez offset that. It's local entrepreneurs who have to bear brunt.
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Pradhan Mantri Suraksha Bima Yojna (accidental insurance of 2 lac for Rs 12 per annum), Atal Pension Yojna (monthly pension) and Pradhan Mantri Jeevan Jyoti Bima Yojna (life insurance of 2 lac for Rs 330 per annum) started. Could have far reaching effects if implemented properly. (And right now at least in my city banks are very eager to enroll people in these schemes - maybe its due to targets they have been given.....or whatever reasons, but its going well).

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Pradhan Mantri Suraksha Bima Yojna (accidental insurance of 2 lac for Rs 12 per annum)' date=' Atal Pension Yojna (monthly pension) and Pradhan Mantri Jeevan Jyoti Bima Yojna (life insurance of 2 lac for Rs 330 per annum) started. Could have far reaching effects if implemented properly. (And right now at least in my city banks are very eager to enroll people in these schemes - maybe its due to targets they have been given.....or whatever reasons, but its going well).[/quote'] Govt has set at least 25% of account holders as target to be enrolled before 31st May for every Bank.And Finance Ministry has allotted all CMDs of PSU banks one state each .That's why Concept is great but unfortunately is rushed up again without any clarity like they did with PMJDY.Even LIC people don't have any clue how the claims will work For now its mainly about PR .Will see how effective it is (PMJDY insurance already useless) after May 31st
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Perhaps no one is to blame ? Perhaps the 9 % + growth years during the last decade occurred despite the UPA govt and we were part of a large upswing in the International business Cycle. Things went awry after the 2008 financial crash.

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so what odds on it April 2016 implementation? I dont think that it will be an issue in terms of state implementation. BJP control 9 Congress control 9. Trinamool too will pass it as will people like SP as Mulayam is for it. Seems to me Rajya sabha is the only barrier to this.

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so what odds on it April 2016 implementation? I dont think that it will be an issue in terms of state implementation. BJP control 9 Congress control 9. Trinamool too will pass it as will people like SP as Mulayam is for it. Seems to me Rajya sabha is the only barrier to this.
Congress is opposing it just for the sake of it.By 2016 BJP should have enough numbers in Rajya Sabha to stop this tactics of Congress and by 2017 hopefully they will have majority.
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