CG Posted October 9, 2016 Posted October 9, 2016 Some more excellent news on the economy (if people's nationistic Koolaid has been digested): 1. Capital formation declined by 3% in Q1. If you calculate for cronies it might be +20%. 2. Net sales of all firms declined by 2%. Of manufacturing firms the decline was almost 5%. Make In India. LOL! 3. Credit to micro and small industries declined by 3%. In medium industries the decline was 11%. Of course, cronies have Lakhs of Crores of loan. 4. IIP declined by 1% y/y. Make in India. LOL! Unless world consumption picks up Indian manufacturing will not pick up.Domestic consumption will pick up next quater due to being festival season as well as good monsoon . The mess Congress put the economy in second term will take many years to overcome particularly the bad loans.
The Outsider Posted October 9, 2016 Posted October 9, 2016 7 hours ago, CG said: Unless world consumption picks up Indian manufacturing will not pick up.Domestic consumption will pick up next quater due to being festival season as well as good monsoon . The mess Congress put the economy in second term will take many years to overcome particularly the bad loans. BJP will beg for someone with the stature and brains of MMS. The guy single handedly saved India in '91 and '08. The morons who think India can jump on the manufacturing bandwagon 20 years after it has passed have no connection with reality or economics. India's main problem is jobs and the only way they can be created in the long run is by investing in health and education.
Tibarn Posted October 9, 2016 Posted October 9, 2016 Someone has never heard of outside lag also... Hallucinating about corruption without evidence. Anyway, as the article diga posted rightly points out, there has not been enough to strengthen the domestic factors of the economy. In fact, to an extent, the government has went the opposite route with the minimum wage/real estate laws.
CG Posted October 9, 2016 Posted October 9, 2016 BJP will beg for someone with the stature and brains of MMS. The guy single handedly saved India in '91 and '08. The morons who think India can jump on the manufacturing bandwagon 20 years after it has passed have no connection with reality or economics. India's main problem is jobs and the only way they can be created in the long run is by investing in health and education. With out strong manufacturing sector creation of jobs on scale India needs is impossible .Neither agriculture nor service's can solve Indias problem.Now manufacturing needs exports to be competitive and global consumption to increases.
The Outsider Posted October 9, 2016 Posted October 9, 2016 3 minutes ago, CG said: With out strong manufacturing sector creation of jobs on scale India needs is impossible .Neither agriculture nor service's can solve Indias problem.Now manufacturing needs exports to be competitive and global consumption to increases. If you bank on manufacturing like the morons in the government are, you are in for a huge failure. Manufacturing today isn't what it was when China rode the bandwagon in the 90s. Due to automation there is no way you can create jobs at the scale required from manufacturing. Only way out is to create a healthy and educated population according to MMS and Sen vision and let them figure it out.
Tibarn Posted October 9, 2016 Posted October 9, 2016 (edited) Health and education investment as linchpins of economic growth. Someone has never read even a basic economics textbook. If there is no manufacturing, there is no sustained growth. If India "missed" the opportunity to become a manufacturing power, then that speaks even worse for the great "intellectual" party. Even an undergraduate economics student could tell a person that investment in health/education is limited in spurring economic growth. MMS single-handedly saved India's economy? Sigh...The problems of people who neither understand economics nor read anything but hagiographies. http://swarajyamag.com/politics/1991-the-real-villain-was-rajiv-gandhi-the-real-hero-was-not-manmohan Considering the poster who posted such non-sense, I'm sure there's an element of Brahmin hatred in the discrediting of PM Rao. MMS as an intellectual who the BJP would be envious to have. Laughable. Considering PM Vajpayee and the current PM have both done more economic reforms than the entire Congress party, barring PM Rao, in their entire history. Never mind that the current dispensation has actual quality economists like Bhagwati and Panagariya. The BJP has no need for Congress "talent", considering, on average, rightists are both more intelligent and more successful than lefties. MMS the "great" economist who advocates private sector reservation. Calling that buffoon a great economist is the equivalent of a creationist being called a great Biologist. The country was left lower in economic freedom than when he became PM. Poor guy has brains made in an aloo factory Edited October 10, 2016 by Tibarn jalebi_bhai, CG and diga 3
diga Posted October 10, 2016 Posted October 10, 2016 15 hours ago, The Outsider said: 10% of the telecom auction got sold. An kahan gaya scam? Get it investigated... Everyone know that Reliance is forming a cartel and underbidding. Why doesnt the Congress ask for a competition commission or ask for a breakup of the Reliance just like US did with baby BELL's?
CG Posted October 10, 2016 Posted October 10, 2016 If you bank on manufacturing like the morons in the government are, you are in for a huge failure. Manufacturing today isn't what it was when China rode the bandwagon in the 90s. Due to automation there is no way you can create jobs at the scale required from manufacturing. Only way out is to create a healthy and educated population according to MMS and Sen vision and let them figure it out. Healthy and educated population will need jobs.Where will the jobs come?Nothing But brain drain will happen.Yes automation will take jobs going forward but still it's the best bet for current workforce.
Tibarn Posted October 11, 2016 Posted October 11, 2016 http://economictimes.indiatimes.com/industry/services/consultancy-/-audit/pmo-seeks-to-rope-in-top-global-consultancy-mckinsey-to-push-ease-of-doing-business/articleshow/54787109.cms?utm_source=twitter.com&utm_medium=referral&utm_campaign=ETTWMain Quote PMO seeks to rope in top global consultancy McKinsey to push ease of doing business MUMBAI: The Prime Minister’s Office(PMO) has made a rare outreach to top global consultancy McKinsey and several MNCs operating in India to discuss ways to unshackle India’s burdensome regulations to enhance the ease of doing business in India, three people who attended the meeting told ET. Senior-most bureaucrats from the PMO met representatives of McKinsey and top executives of the Indian subsidiaries of Boeing, Unilever, Coca Cola, ABB and Vodafone on September 24. Modi’s trusted bureaucrat Nripendra Misra, principal secretary at the PMO, with other bureaucrats sat through a detailed presentation by McKinsey’s senior partner Alok Kshirsagar and his team on ideas to improve the way business is done in India, the sources said. Good to see the government is open to suggestions from industry. However, there are some low hanging fruit they have refused to target so far: retrospective taxation and disinvestment. The EODB should improve significantly by the end of the PM's term, but top 50 seems optimistic in my opinion, I'll be happy to be wrong though. I've realized it's futile to hope the Chiddu clone (Jaitley) is removed as the FM .
sandeep Posted October 11, 2016 Posted October 11, 2016 On 10/9/2016 at 1:26 PM, The Outsider said: BJP will beg for someone with the stature and brains of MMS. The guy single handedly saved India in '91 and '08. The morons who think India can jump on the manufacturing bandwagon 20 years after it has passed have no connection with reality or economics. India's main problem is jobs and the only way they can be created in the long run is by investing in health and education. What kind of spurious argument is this? So Indian govt should just give up on India-based manufacturing? Because we are late to the game, instead of competing? Why mock "Make In India"? It may not solve everything, and I can agree as far as Modi's emphasis on marketing vs actual substance, but you can't really be saying that the whole 'Make in India' policy is completely useless? Makes me think that you are too focused on winning a 'debate' rather than having an honest one. maniac 1
CG Posted October 12, 2016 Posted October 12, 2016 India now world's 5th largest manufacturer of cars.
The Outsider Posted October 16, 2016 Posted October 16, 2016 On 10/10/2016 at 4:44 PM, CG said: Healthy and educated population will need jobs.Where will the jobs come?Nothing But brain drain will happen.Yes automation will take jobs going forward but still it's the best bet for current workforce. A healthy and educated society will create ideas and jobs for themselves.
The Outsider Posted October 16, 2016 Posted October 16, 2016 On 10/12/2016 at 1:48 AM, sandeep said: What kind of spurious argument is this? So Indian govt should just give up on India-based manufacturing? Because we are late to the game, instead of competing? Why mock "Make In India"? It may not solve everything, and I can agree as far as Modi's emphasis on marketing vs actual substance, but you can't really be saying that the whole 'Make in India' policy is completely useless? Makes me think that you are too focused on winning a 'debate' rather than having an honest one. It is useless, yaar! The level at which we are producing hosts of jobless youth, nothing is going to be solved by Make In India. Maybe 5-10% at the maximum. The ship has sailed. Which debate am I aiming to win? That Modi is a jackass? I don't need any debates for that because factual numbers show our exports are down to a level where we were 5 years back. Kar lo Make In India!
The Outsider Posted October 16, 2016 Posted October 16, 2016 2.5 years after a great economist handed the reins over to a Grade A moron, our economy is floundering at every level and parameter except the cooked up GDP numbers.
sandeep Posted October 16, 2016 Posted October 16, 2016 4 hours ago, The Outsider said: It is useless, yaar! The level at which we are producing hosts of jobless youth, nothing is going to be solved by Make In India. Maybe 5-10% at the maximum. The ship has sailed. Which debate am I aiming to win? That Modi is a jackass? I don't need any debates for that because factual numbers show our exports are down to a level where we were 5 years back. Kar lo Make In India! That's quite a bit of negativity. Tall odds so throw in the towel? I don't like Modi, don't respect him for the ugly rhetoric he used to throw around often while trying to win in Gujarat and his opportunistic crap after the Mumbai attacks. But can't say that he's not taken a few good steps as PM with respect to economy. No matter how late it is, or how many ships are sailed; Government can and should make an effort to bolster the manufacturing sector. A country our size can make quite a lot happen. Thoda positive attitude rakho!
CG Posted October 16, 2016 Posted October 16, 2016 Even if we develop enough manufacturing to meet domestic demand it would create more jobs than services can .Nowadays many Chinese mobile manufacturer makes phone in India to save on duties.Car manufacturing is picking up .We can improve a lot from low base.
The Outsider Posted October 16, 2016 Posted October 16, 2016 6 hours ago, sandeep said: That's quite a bit of negativity. Tall odds so throw in the towel? I don't like Modi, don't respect him for the ugly rhetoric he used to throw around often while trying to win in Gujarat and his opportunistic crap after the Mumbai attacks. But can't say that he's not taken a few good steps as PM with respect to economy. No matter how late it is, or how many ships are sailed; Government can and should make an effort to bolster the manufacturing sector. A country our size can make quite a lot happen. Thoda positive attitude rakho! Zabardasti ka positive attitude rakh loon? A government which doesn't have the common sense to realize that when you're charging the hell out of citizens for a basic input like oil while going on about a dhindhora of manufacturing deserves a pass? Tell me how is it economically viable for Indian manufacturers to make globally competitive products with the amount they're paying for oil and energy?
Tibarn Posted October 16, 2016 Posted October 16, 2016 (edited) Again with the great economist BS. A moron who left India's economy in tatters and less free than what he inherited is a great economist. Peppering every thread with ad hominems and attempted slurs is the ideal way to prove the strength of your argument. Pray tell, which Economic school of thought would consider that buffoon a great economist? The Marxist School? Let's hear this genius explain how to create jobs with health and education. Edited October 16, 2016 by Tibarn chewy 1
sandeep Posted October 17, 2016 Posted October 17, 2016 19 hours ago, The Outsider said: Zabardasti ka positive attitude rakh loon? A government which doesn't have the common sense to realize that when you're charging the hell out of citizens for a basic input like oil while going on about a dhindhora of manufacturing deserves a pass? Tell me how is it economically viable for Indian manufacturers to make globally competitive products with the amount they're paying for oil and energy? Are you really claiming that increasing, instead of reducing, subsidies on oil is the way forward for India? Continuing to subsidize oil, which I think 90% is imported is really not beneficial to the economy or the people, is it. I agree with you on the energy front, it is the government's responsibility to work hard and produce demonstrable results in both - increasing availability (& reliability) of energy, as well as reduce the cost of it. But in the 21st century, when even Saudi Arabia is trying to reduce its oil dependency, if you bash the Modi government for not subsidizing oil, that is partisan logic, not economic. That reads as if you are zabardasti keeping a negative attitude! ;)
Laaloo Posted October 17, 2016 Posted October 17, 2016 (edited) On 10/16/2016 at 3:01 AM, The Outsider said: 2.5 years after a great economist handed the reins over to a Grade A moron, our economy is floundering at every level and parameter except the cooked up GDP numbers. haan the great economist should have let rahul baba ya phir aam aadmi ke raja take over Edited October 17, 2016 by laaloo sandeep, dial_100 and diga 3
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