Modi sarkar economic reforms/governance performance thread

[mishra]

^ Bhai, As long as Modi keeps "Go green" idea under check by not getting bullied by west we can make best use of our resources. Any doubts West had about Modi falling in line was cleared when he blocked WTO. Most of headlines in Indian media were against it as if Indias economic growth will stall under Modi regime

[seedhi]

FY14 = 2013-2014 Business Standard and Deloitte consultants don't know their Fiscal Years and their grammatical tenses. :haha: The lies we tell ourselves to sustain our carefully constructed myths . The Hindu is quoting the Pre Budget Survey in 2014 which was tabled in Parliament by the new FM , Mr.Jaitley .

Unlike you, I trust the government of India figures more than the uttering of a Deloitte official which has not quoted any source. The following is a report that came out in Feb'14 under the previous govt which itself projects (on pages 17 and 18) that the capacity addition for 2013-14 to be around 17800 MW. http://www.cea.nic.in/reports/monthly/executive_rep/feb14.pdf

[amiret]

Fishing for compliments: Modi govt's publicity blitzkrieg smacks of desperation

"The self-congratulatory blitz unleashed by the Narendra Modi government on the country to mark the completion of its first year in power is unprecedented. Being modest or underconfident was hardly ever a strong trait in the genetic make-up of the BJP, but this time it has exceeded itself in this self-glorification exercise. It would be acceptable if substance and hype weren't mismatched and there was no hint of desperation in the exercise." http://www.firstpost.com/politics/fishing-compliments-modi-govts-publicity-blitzkrieg-smacks-desperation-2263464.html "The government's army of cheerleaders and faithful swamping the media space with glowing, and unabashedly uncritical, tributes to the achievements in the year past would have us believe that India has made a clean break from its diffident, reticent and ‘tainted’ past and is now in an exciting space of possibilities. "

[mishra]

.. .. India has made a clean break from its diffident, reticent and ‘tainted’ past and is now in an exciting space of possibilities. "

:ohmy: There :blink: :haha::haha::haha: From the bottom of a pit, Only way out is climb up

[Yoda-esque]

:ohmy: There :blink: :haha::haha::haha:

He is saying it himself lol. BTW this guy is an AAPtard

[mishra]

He is saying it himself lol. BTW this guy is an AAPtard

:secret: :phehehe:

[Khalpat]

[Yoda-esque]

:secret: :phehehe:

He is also a Mishra :secret:

[mishra]

He is also a Mishra :secret:

Kejri sold his idea to lots of people. Fool me once.

[diga]

five more names come out in black money case: Yash Birla, Gurjit Singh Kochar, Syed Mohamed Masood, Chaud Kauser Mohamed Masood and Ritika Sharma. http://timesofindia.indiatimes.com/india/Black-money-Names-of-Yash-Birla-four-others-with-Swiss-bank-a/cs-disclosed/articleshow/47429477.cms http://www.firstpost.com/india/black-money-probe-heres-know-5-indians-swiss-list-2262688.html

[amiret]

Speaking at NSUI national convention, Dr.Manmohan Singh said :

" All is not well on the economy front, the former PM said, adding, 'there is a 'fragileness' in economic recovery under the present government."

Agree , but the recovery was fragile under the previous govt too.

"Talk of policy paralysis is untrue, when our govt left, India was the second fastest growing economy," Manmohan Singh said.

that is true as per the revised GDP figures , India grew at close to 7% during Dr.Singh's last year in office.

[G_B_]

I back MMS on the recovery is fragile thing. Exports have not picked up. Usually when the rupee depreciates exports will pick up. The problem for India is exports have fallen. Imports have fallen too as a result of oil falling. Its a long term problem. Indian exports are too reliant on USA and the Europe. With Europe especially not going great guns there are big issues about where your exports goto. This is why its important for Modi to build other economic bridges. This is why he needs to travel the world pushing for Indian exports. One of the key failings of the MMS gov and UPA 2 is that they failed to diversify the export base. India should be exporting a lot more to Africa and South America.

[G_B_]

This is from wikipedia You can see Europe (western Europe especially) and USA is where the bulk of our exports go. There is hardly anything in Africa and South American. Thats close to 1.5 billion people you hardly do any trade with.

[Texan]

This is from wikipedia You can see Europe (western Europe especially) and USA is where the bulk of our exports go. There is hardly anything in Africa and South American. Thats close to 1.5 billion people you hardly do any trade with.

All the more important for Make In India to work.

[G_B_]

Make In India IMO is just one part of the puzzle. The way i see it Make in India is about endogenous factors making it easy to export via better infra (social, power roads bridges) , tax policies and acquisitions. Its about cutting red tape and corruption and investing in wealth creating projects. This means even foreign firms can chose to set up manufacturing base in India. The exogenous factors are signing FTAs giving your goods preferential access and bringing raw materials to India at a cheaper rate and keeping your currency flexible enough to make your good competitive. Under UPA-1 i feel there was a feeling that things are going well with the global economy. Lets just sit on our **** and do nothing. Under UPA-2 there was a need for reforms post the financial crisis.That never happened.

[amiret]

Deutsche-Borse survey report

“Production declined to a near-two-year low in May. Evidence from the survey suggested that Narendra Modi’s ambitious ‘Make in India’ project is failing to get off the ground,” said the report production declined to a near two-year low in May with the manufacturing sector sounding "least ambitious about their future production plans in May," posting the fifth consecutive decline.

Business Standard and HT .

Corporate sentiment towards Indian business climate and future expectations have fallen to pre-Narendra Modi levels according to a Deutsche-Borse survey. The MNI India Business Sentiment Indicator — a gauge of the current sentiment among BSE listed companies — fell 2.5% to 62.3 in May from 63.9 in April. “The May report confirms that the trend in business activity is down, with overall sentiment, output and orders all continuing to fall from the Q4 peak,” said Philip Uglow, chief economist of MNI Indicators. This is the lowest level for the index since April 2014. Along with a decline in output and orders, it points to a fall in business activity.

[mishra]

Make In India IMO is just one part of the puzzle. ..

Since Independence, Every leader has been trying "make in India" and has failed. We have loads of manpower (untrained untapped) but we need land for units, infra for transportation and oil & energy to run them units. Just common sense. Every other thing seems achievable as corruption perception Index of India has gone down. Question is how far we are ready to go to acquire land for infra/units ? Bigger problem is why and how leaders of previous regimes (corrupt ones) be trusted when they oppose land bill

[G_B_]

Since Independence, Every leader has been trying "make in India" and has failed. We have loads of manpower (untrained untapped) but we need land for units, infra for transportation and oil & energy to run them units. Just common sense. Every other thing seems achievable as corruption perception Index of India has gone down. Question is how far we are ready to go to acquire land for infra/units ? Bigger problem is why and how leaders of previous regimes (corrupt ones) be trusted when they oppose land bill

well somebody has to crack the code. bleak future for india if it does not happen. nobody said it was going to be easy.

[G_B_]

@amiret i think corporate india is still mired in debt. india needs rate cuts for short term growth. dividends of reforms are long term gains. with this in mind imo gov needs to abandon its fiscal plans and provide a stimulus.

[amiret]

@amiret i think corporate india is still mired in debt. india needs rate cuts for short term growth. dividends of reforms are long term gains.

One of the reasons they are mired in debt because they built up excess capacities when money was cheap and public sector banking regulations were lax. Both the cement and steel industries are suffering from overcapacity but the prices are not declining . This is especially true of cement : -domestic demand is stagnant , -companies have large unutlised capacity, -the companies have comfortable levels of debt - Yet cement prices are resilient and higher compared to China . In my opinion , the Govt needs to stop protecting certain uncompetitive domestic industries from cheaper imports. After successful lobbying the Govt increased import duty on Steel to protect the local industry from chinese imports. Agree with the need for rate cuts but i am sure there are cogent arguments on the other side of that debate.

with this in mind imo gov needs to abandon its fiscal plans and provide a stimulus.

completely against any kind of fiscal stimulus , though i believe that is exactly what this Govt will do , prodded by short-sighted Corporate india. Let Govt lower taxes instead of engaging in profligate public spending .