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Modi sarkar economic reforms/governance performance thread


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http://www.moneylife.in/article/who-does-the-modi-sarkar-really-represent/41439.html#.VT4EANWFObw.twitter Must read. There has been some confusion and hurry in launching many schemes without doing proper thinking with regards to their use, proper implementation and the fact that some institutes/schemes similar in nature might already exist. Something like the Swachch Bharat Abhiyaan still doesn't look like more than a photo op for famous people - it has huge potential but only if it is properly implemented at the ground level. Similarly MUDRA BANK can change rural finance dramatically but there is a need to look at similar institutes/schemes already present and learn from their mistakes and maybe use their infrastructure instead of merely opening yet another bank. Tax issues like MAT will only antagonize much needed foreign investors - Govt can do without if I would think.
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Rajdeep Sardesai blog. #ThankYou All

Prime minister Narendra Modi attracts strong, polarised responses: you either love him or hate him it appears. Which is why searching for the middle ground when it comes to Mr Modi is never easy. Over the years, I have attempted that but found myself being pigeonholed by my criticism of Mr Modi's handling of the 2002 Gujarat riots. I have always maintained, and continue to do so, that Mr Modi as Gujarat chief minister failed to do enough to stop the violence. And yet, my criticism of Modi circa 2002 has not blinded me to the fact that he has done much since then which he has justifiable reason to be proud of. The latest is the manner in which the government swung into action in the Nepal earthquake. The quake has seen Mr Modi at his best. Within hours of the news breaking, the prime minister had put the government in fast forward mode. It was a lazy Saturday for many, but not for the prime minister who galvanised the state machinery into readiness to help in the enormous quake effort. Disaster management systems in the country have improved immeasurably in the last few years, but any system looks for leadership at times of a crisis. This is where Mr Modi, like an efficient CEO, backed by an highly motivated team of officials, has shown himself up for the task. One can only draw a contrast with Uttarakhand two years ago where the state and Central government -- both Congress-led -- struggled initially with the magnitude of the task before them because there was a leadership deficit at the state and the centre. But let's also be clear: Operation Maitri is not about an individual, but a TEAM effort involving hundreds of people. Yesterday, on my programme, I had an Air Force officer who was telling me how his men have been flying night sorties to Kathmandu: first Yemen, now Nepal, our naval and air pilots have been working 24 x 7 for the last month. The NDRF and armed forces have been equally brilliant: it can never be easy to climb the mountain slopes and rescue people. They did it in Uttarakhand, they are doing it again. Our embassy in Kathmandu has been quietly efficient in evacuating scores of people. NGOs are soft targets nowadays, but I know of many who are working relentlessly in the affected areas and providing relief. The RSS too has often been singled out for its communal agenda but there is little doubt that in an emergency situation like a quake, the swayamsevaks admirably rise to the occasion. Which is why I think Nepal should be a moment to celebrate the capacity of the Indian state and it's people to reach out to those in distress. Sadly, there is a section of Modi supporters who see this as an occasion to engage in unabashed vyakti puja and build a personality cult around their leader. It's the same lot who embarrassed the prime minister during the Uttarakhand relief operations by attempting to project Mr Modi as a Rambo-like figure who was almost single-handedly rescuing people. Rambo then, Superman now: it's this tendency to place credit at the door of an individual rather than the team which we must desist from. As the prime minister himself so aptly put it: rather than Thank you Modi, the real thanks should be to our great culture which emphasises 'Sewa Parmo Dharma'. A little less vyakti puja, a little more jan sewa would be a truly inspirational message. Post-script: with much of the attention justifiably on Nepal, let's not also forget the death and destruction along the border areas in Bihar, UP and Bengal. A journalist friend in Bihar tells me that the Nitish government too has been making every effort to bring relief to people. I don't think somehow Thank you Nitish will ever trend on social media
http://www.rajdeepsardesai.net/blog-views/2097042560/thank-you-all A rare balanced view.
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Regarding MUDRA (a new Govt owned bank) :

Jaitley : “MUDRA Bank will refinance Micro-Finance Institutions through a Pradhan Mantri Mudra Yojana. In lending, priority will be given to SC/ST enterprises. "
This is a shameful reminder of how caste based politics persists in India and is encouraged even by those who pretend to abjure it. http://www.thehindu.com/news/resources/full-text-of-budget-201516-speech/article6945026.ece There are already 26 Public Sector Banks owned by Govt Of India with over 85,000 branches offering the same SME , Priority sector credit that MUDRA is expected to give . Creation of another Govt owned bank will not solve the problems of lack of SME credit growth . what happened to modi's statement "Government has no business to be in business " ? Govt needs to privatize all PSU banks. to quote sucheta dalal :
" Mudra Bank had been hurriedly set up without touching dozens of legacy institutions and schemes that had failed in the very same objectives over the past decades. All of them continue live off taxpayers’ money "
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Hopefully the real estate bill should pass. The Trinamool appear to be playing ball with the government on the GST bill as well. I doubt anything but a joint session will get the land bill through....

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IMF sending team to India to study discrepant GDP numbers.

Terming the recently revised gross domestic product (GDP) growth data of India released by the statistics ministry as “puzzling” and prima facie one with “discrepancies”, the International Monetary Fund (IMF) has said it will send a team of its statistics experts to New Delhi this week to better understand the new methodology of calculation and ensure the data is error-free.
Perhaps "manufacturing numbers" is part of the "make in India" initiative :haha: http://indianexpress.com/article/business/business-others/imf-to-send-a-team-this-week-to-solve-indias-gdp-growth-puzzle/
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His views on economy and minorities were surprisingly vague.
Its all relative isn't it. Macro-economic indicators are much better.Investor confidence is up. Doing much, much better than the scamgress govt. Shourie gave himself away when the Jaitley topic was brought up.
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Shourie was a great soldier for hindutva cause. I think recent slipup is the handy work of senility/pride. Prehaps he was denied a post that he was interested in? Same thing happened to Advani. I won't fault him though, life has dealt him sh!t hand. That too must be playing on his mind as he looks back on his life.

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Some harsh words from Shourie in the press' date=' quite unexpected if you ask me.[/quote'] I am inclined to think that it may have something to do with the fact that he did not find a place in the cabinet. He did a good job as the disinvestment minister in Vajpayee's cabinet and may have been eyeing the Finance portfolio this time around. I personally think he would definitely bring value to any ministry that can be handed over to him.
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Learn something new everyday. Apparently govt revised the GDP calculation.
:doh: it has been widely reported for a while that under the new Govt GDP calculation methodology has been revised . Consequently GDP estimates have been revised UPWARDS. Even past years have been revised . 2013-2014 has been revised from 4.7% to 6.9% .
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His views on economy and minorities were surprisingly vague.
Economy wise, he isn't totally off the mark from my very rudimentary understanding of the financial world. RBI is still charging very high rates of interest on businesses. Repo rate is still around 7.5% to supposedly control inflation. Really? How are banks supposed to raise money with such high rates? It's not the way to make India business friendly. Instead of raising lending rates, why not try and curb the black money in the country? Why are participatory notes still not abolished? Having a parallel black economy undervalues the rupee. He is right when he says that the govt. has been lucky so far with the global falling prices of goods and services. I'm still hopeful though. With regards to minorities, why the hell is Modi trying to appease Mullahs and Padres? They will never vote for him. With these snakes, there is no appeasement. It is not like they voted him to power. Why is Modi not outright calling out their bluff with regards to the church attacks? Screw Jaitley and his interviews. He has been pathetic as I&B minister. The MSM morons continue to talk out of their backsides. It is very clear, there is no sab ka saath, sab ka vikaas with these guys. Modi and BJP need to thank SM for ensuring that the propaganda machinery is kept in check. I however disagree with him with regards to his opinion on LAB. Had BJP opposed it back then, there would've been retards screaming left right and centre about how BJP is anti-development. They had no choice really. Damned if you do, damned if you don't. Even with regards to disrupting Parliament, they did it because of the missing coal block files. Saying that we are better than UPA is hardly a good enough justification. As I said, I still remain hopeful though. It's only been one year. I will be happy if they eventually get things done.
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Learn something new everyday. Apparently govt revised the GDP calculation.
Don't be fooled by what the false flagger posts. Revising the base year while estimating GDP is standard international practice. Google is your friend.
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