Featured India Q1 GDP plunges 23.9% in worst quarter on record

[casual]

Wait... 23.9% is annualized right?

 

[Protest_again]

I don't understand how people are expecting growth when India was completely shut down for most of the quarter. It's not Modi but China virus that is at fault. Only in the last 2 quarters we might recover.

For people who are just want to see India falter, any negative news is welcome for them. So have your fun with it while it lasts.

 

[PradoTLC]

View attachment 665576

So India leads the pack ... India is no 1

 

[IblinI]

I don't understand how people are expecting growth when India was completely shut down for most of the quarter. It's not Modi but China virus that is at fault. Only in the last 2 quarters we might recover.

For people who are just want to see India falter any negative news is welcome. So have your fun with it while it lasts.

There is a difference between negative 1 and 23.9, plus were you not the one that boasting about India economy on daily basis, saying all is well, on a right track, forex going up blah blah?
Even a fish has better memory.

 

[Protest_again]

I agree that foreign investment is critical for India and this point. With a shaky banking sector and huge government deficits there is not much room for additional domestic investment sources. Foreign investors are starting to get spooked. Their is a ponzi scheme air in India right now. Existing investors have to sucker in new foreign investors so they can get their money out of the scheme.....like Ambani is doing. Doesn't inspire much confidence.

Lol. FYI, India doesn't borrow from foreign investors, only from multilateral agencies. India can divest over 250 public sector enterprises to raise money, don't need foreign capital to run our budgets. RBI can also give back dividends to govt for additional resources. or India could even print money given our rupee had appreciated by around 5% in the last 2 months.

India unlike Pakistan doesn't run fiscal deficits to the tune of 7-8% of GDP year on year even in normal times. Our fiscal deficits are generally around 3%. Only this year we might breach it and be around 7%. That is fine given the exceptional conditions because of China virus.

If you think we are running a ponzi scheme, you can just stay away. As it is you are barred to invest in India anyway, let the other foreigners who are better informed, educated and especially allowed to invest in India invest.

PS: We'll see a $100 billion FDI this fiscal. That's more than the precious, game changing, never ever before CPEC. Lol.

 

[Dark1]

LMAO. Weren't you the one who doubted Singapore's economic fundamentals because we shrank like 13% in Q2?

India’s forex reserves increase by $11.9 billion to hit $534.5 billion

Nothing is perfect; a AAA rating doesn't mean 0% risk. It just means it's the safest class of debt investment. And Singapore's financial position remains stronger than many other AAA countries as quoted in my post above. Read the article you had attached, "Fitch expects the central government...

defence.pk

Singapore shrinking 13% in one quarter: It's not rosy in SG, Singapore is too dependent on global demand unlike India, Singapore is not transparent and their numbers may be fake.

India shrinking 24% in one quarter: Even this 23% drop is better than I expected, fortunately India's economy is self-sustaining, our forex reserves are growing rapidly.

I have triple standards....

 

[Protest_again]

There is a difference between negative 1 and 23.9, plus were you not the one that boasting about India economy on daily basis, saying all is well, on a right track, forex going up blah blah?
Even a fish has better memory.

How could you be this thick? I was talking about numbers in July. This is first quarter (March- June), when India was under total curfew. (You do understand what is a curfew right?)

Forex reserves did raise, I can't help if you choose to close your eyes. FPI's are pumping dollars into our equity markets like crazy.

India is indeed on the right track, because right after it opened up, its consumption was 90% back to normal. That was surprising. I expected another bad quarter after opening up.

If anyone is to blame for our plight then it is not GOI but the China virus.

Also India did take a lot of action oriented measures to attract further investment. You being an outsider are myopic to those facts since you see day to day numbers as proof in the pudding. Mark my words, India is going to grow faster because of our focused investment in infrastructure from now on. India was lackadaisical until now in this regard but China aggression really charged up govt machinery. Please just wait and watch.

If you can't pass up opportunity to belittle India (without even understanding why the numbers), then go for it, just don't quote me again.

 

[IblinI]

How could you be this thick? I was talking about numbers in July. This is first quarter (March- June), when India was under total curfew. (You do understand what is a curfew right?)

Forex reserves did raise, I can't help if you choose to close your eyes. Fox's are pumping dollars into our equity markets like crazy.

India is on the right track, because right after it opened up, its consumption was 90% back to normal. That was surprising. I expected another bad quarter after opening up.

If anyone is to blame for our plight then it is not GOI but the China virus.

Also India did take a lot of action oriented measures to attract further investment. You begin an outsider are myopic to those facts since you see day to day numbers as proof in the pudding. Mark my words, India is going to grow faster because of our focused investment in infrastructure from now on. India was lackadaisical until now in this regard but China aggression really charged up govt machinery. Please just wait and watch.

If you can't pass up opportunity to belittle India (without even understanding why the numbers), then go for it, just don't quote me again.

All is well, opened up with number of cases surging to world no.1, only if all your ppl sitting behind the desk are as capable as how you hitting the keyboard.

 

[Dark1]

All major economies are seeing a drop in GDP as compared to last year. Surprising, no ? GDP is a indicator of economic activity and India was totally shut down for more than 3 months . It would have been suspicious if like China we started showing positive growth.
With such a heavy export dependent economy, with all its customers contracting , somehow Chinese figures are in the positive ? .
It's as if china has negligible dependence on exports.
In the 2nd qtr starting July, Indian gdp has reached 95% of its last year figures. And with the agricultural growth being in the positive, India will have a positive gdp figure by end of the financial year, as imf has predicted.

 

[Mista]

Because You are talking to one of the most delusional Indian here on PDF.

There is a difference between negative 1 and 23.9, plus were you not the one that boasting about India economy on daily basis, saying all is well, on a right track, forex going up blah blah?
Even a fish has better memory.

I'm not sure why they keep citing that India's economy is 'self-sustaining' unlike China or Singapore and it's a 'strength' for them. I mean, the North Koreans have the most resilient economy if we want to go by that measure.

In fact, the reason why Singapore didn't contract that much is because of the external-oriented sectors of our economy (other than tourism).

Manufacturing/ICT barely contracted in Q2, while the finance industry actually grew.

On the other hand, the domestic-oriented sectors our economy (like construction and transportation) saw a huge contraction because of the lockdown; we are a city-state and a city lockdown means the whole nation is on a lockdown lol.

Yet our contraction is not as large as India, and that is despite India being a developing country which was growing faster pre-covid.

It's clear that India's economy is not well-diversified enough and they are too dependent on domestic demand. Therefore, they are more exposed to economic pressures from a lockdown which induces a sharp contraction of domestic demand.

But somehow they think it's a strength that they are less economically integrated with the rest of the world lol.

 

[Mista]

With such a heavy export dependent economy, with all its customers contracting , somehow Chinese figures are in the positive ? .
It's as if china has negligible dependence on exports.

^Yeah, this is exactly what I mean lmao.

I'm not sure why they keep citing that India's economy is 'self-sustaining' unlike China or Singapore and it's a 'strength' for them. I mean, the North Koreans have the most resilient economy if we want to go by that measure.

In fact, the reason why Singapore didn't contract that much is because of our external-oriented sectors of the economy (other than tourism).

View attachment 665632

Manufacturing/ICT barely contracted in Q2, while the finance industry actually grew.

On the other hand, our domestic-oriented sectors economy (like construction and transportation) saw a huge contraction because of the lockdown; we are a city-state and a city lockdown means the whole nation is on a lockdown lol.

And yet our contraction is not as large as India, and that is despite India being a developing country which was growing faster pre-covid.

It's clear that India's economy is not well-diversified enough and they are too dependent on domestic demand. Therefore, they are more exposed to economic pressures from a lockdown which induces a sharp contraction of domestic demand.

 

[Mista]

Wait... 23.9% is annualized right?

Nope, it's YoY.

Gross domestic product shrank 23.9% in the three months to June from a year earlier, the Statistics Ministry said in a report Monday. That’s the sharpest decline since the nation started publishing quarterly figures in 1996, and was worse than any of the world’s biggest economies tracked by Bloomberg.

India Posts Worst GDP Slump of Major Nations as Virus Spikes

India’s economy posted the biggest contraction among major economies last quarter, with a recent surge in coronavirus infections weighing on the outlook for any recovery.

www.bloomberg.com

If we want to go by annualized measurement, they probably shrank more than 60%.

 

[Protest_again]

All is well, opened up with number of cases surging to world no.1, only if all your ppl sitting behind the desk are as capable as how you hitting the keyboard.

You sir are just one of the headline munchers we have on this forum.Simple beings who comment with no in depth understanding. And god even your retort is boring.

 

[Clutch]

Didn't the Indians once bark... "Pakistan is a failed economy, failed terror State"... Now look at them.. Failing economy and a Hindutva Terrorist extremist sate!

Lol.
. The irony...

 

[ZeEa5KPul]

For people who are just want to see India falter, any negative news is welcome for them.

Couldn't have happened to more deserving people.

So have your fun with it while it lasts.

We're going to be having fun with it for a very, very long time.