BJP Pushing Economy Towards Disaster

[Guynextdoor2]

I don't think AJ is the right person for FM. He's spent too much time as a lawyer and politican to understand this stuff. Many BJP FMs have had this problem. I have read somewhere that Yashwant Sinha got all worked up when alternative proposals were nipicking that something will give 6,1% vs 6.3% growth and he said should we really be bothered about it? Then the guys around him had to explain in detail why even that .1% difference is important. He eventually picked up, nevertheless his first budget was still described by Chiddu as 'An IAS Officer's Budget; his background left an imprint.

I think Parikkar might make a better FM and AJ should move to Defence. Ye use hoga nahi.

 

[IndoCarib]

The fm can say 2+2=22, that doesn't mean he's right. Address his points, don't point to irrelevant topics of who backed whom.

he has no points. new sectors were added and base year revised to 2012

India finally decided to measure its economy properly—and GDP growth soared – Quartz

 

[That Guy]

he has no points. new sectors were added and base year revised to 2012

India finally decided to measure its economy properly—and GDP growth soared – Quartz

You apparently missed this part of his points...

"We saw last week that the growth rate of agriculture has been estimated at a mere 1.1 per cent last year. The same Economic Survey estimates the industrial growth rate to have been 5.9 per cent, a mere 1.4 per cent higher than the previous year and services alone topping double digits with 10.6 per cent, but a mere 1.3 per cent above the previous year.

How can such modest sectoral growth rates add up to a whopping GDP growth rate of 7.4 per cent, blasting us into being the "fastest-growing economy in the world"? Somewhere, someone has gone wrong."

He doesn't have a problem with using the international standard, what he has a problem with is the numbers shown. They don't add up.

 

[IndoCarib]

You apparently missed this part of his points...

"We saw last week that the growth rate of agriculture has been estimated at a mere 1.1 per cent last year. The same Economic Survey estimates the industrial growth rate to have been 5.9 per cent, a mere 1.4 per cent higher than the previous year and services alone topping double digits with 10.6 per cent, but a mere 1.3 per cent above the previous year.

How can such modest sectoral growth rates add up to a whopping GDP growth rate of 7.4 per cent, blasting us into being the "fastest-growing economy in the world"? Somewhere, someone has gone wrong."

He doesn't have a problem with using the international standard, what he has a problem with is the numbers shown. They don't add up.

I think the following graph explains some of the intricacies of the new method.

Under the new method, the services sector constitutes a smaller proportion of overall GDP at 50.91% compared to 57.03% under the previous system. India’s industrial sector now takes a larger proportion of GDP. The manufacturing sector now comprises 17.06% of total GDP compared to 12.89% under the previous system.

What's Behind India's Magical GDP Numbers? - Forbes

the GDP numbers may look exaggerated. However it is what it is.

“I wouldn’t look at these GDP numbers and think India’s economy is doing better than it really is. That said, India’s economy is doing better than you think it is,” says Peter Kohli, CEO of DMS Funds

 

[That Guy]

I think the following graph explains some of the intricacies of the new method.

Under the new method, the services sector constitutes a smaller proportion of overall GDP at 50.91% compared to 57.03% under the previous system. India’s industrial sector now takes a larger proportion of GDP. The manufacturing sector now comprises 17.06% of total GDP compared to 12.89% under the previous system.

View attachment 201356
What's Behind India's Magical GDP Numbers? - Forbes

the GDP numbers may look exaggerated. However it is what it is.

“I wouldn’t look at these GDP numbers and think India’s economy is doing better than it really is. That said, India’s economy is doing better than you think it is,” says Peter Kohli, CEO of DMS Funds

Okay, that explains it.