Indian economic growth slows to 5.3%

[farhan_9909]

Oh bhai mere,i googled it already but the point is your goverment has a habit of giving wrong figures,Recently they fudged some data and showed more growth rate when the actual growth rate was 3.1% and gave the excuse that it was a typo,Wont you agree?.
I am not sure if looking into IMF's site will help because they release date for each financial year at the end do not update quarterly?,isnt it?.

that indeed was a typo as IMF has later confirmed the growth rate of 4.1% followed by Worldbank and recently by ADB

 

[dil_dil]

I can see overall GDP growth rate being below 5% for India this FY.

 

[jarves]

that indeed was a typo as IMF has later confirmed the growth rate of 4.1% followed by Worldbank and recently by ADB

That was not a typo but a plain lie.

EDIT-Got it.

Pakistan and the IMF -- Page 1 of 16

 

[farhan_9909]

That was not a typo but a plain lie.

EDIT-Got it.

Pakistan and the IMF -- Page 1 of 16

Lalay,we are expecting 5.1% growth this year as the first quarter growth will be revealed after 2 weeks

 

[Echo_419]

BBC News - Indian economic growth slows to 5.3%

India's economy grew by 5.3% in the July-to-September period from a year earlier, down from a rate of 5.7% in the previous quarter.

When Narendra Modi swept to power back in May he promised to revive the economy.

Since then leaders including David Cameron and Xi Jinping have led trade delegations to India.

Many international firms have announced investment plans and the Indian stock market has been soaring. All this excitement has been attributed to the 'Modi effect.'

But many had expected the government to unleash some big bang economic reforms by now, which hasn't happened.

-----------------------

Can Modi be blamed for the continuing slowdown in the Indian growth rate?

Modi is not a superhuman Reforms are being implemented slowly & gradually
This Govt has already said it will take route of Gradualism & not shock & awe on Reforms

 

[Echo_419]

Many of them treat Modi with the reverence one might give to a Deity.

@DRAY, @anonymus, @jha, etc.

I'm just wondering, how come it has been so hard for Modi to push through reforms?

Chinese economic reforms are being announced all the time, and will continue that way for the next 2-3 years.

Now don't tell me you being Chinese are gonna tell me about deity or hero worship
Modi is finding it hard becuz we live in a democracy & have to take in majority of groups into confidence before announcing Reforms & the ruling party still does not have majority in the Upper house of parliament & you are pushing reforms all the time becuz if any one opposes it he will be ignored that's the fundamental difference btw democracy & dictatorship

Already superpower since 2012, 5% growth is just gravy.

Plenty to achieve white slaves by 2030.

Oh man not you too
you were the last of the Chinese which actually typed something without trolling on Indian topics

What you mean like this?

India's IT Exports to US Wildly Exaggerated



India reported $8.7 billion in IT exports to America, but the US only reported $420 million in IT from India.

You shouldn't try to play with your trade numbers, since you know the other side can check if their numbers match, right?

America checked and found a wild discrepancy. That's how they figured out your trade data was fake.

Haq musings LOL

 

[jarves]

Lalay,we are expecting 5.1% growth this year as the first quarter growth will be revealed after 2 weeks

Good for you.The target looks pretty ambitious as IMF predicts it to be 4.3% only isnt it??
PS-From which month Pakistan's first quarter of financial year starts??

 

[Nova2]

Good for you.The target looks pretty ambitious as IMF predicts it to be 4.3% only isnt it??
PS-From which month Pakistan's first quarter of financial year starts??

1 July - 30 June are their financial Year. So 1Q is from july-sep. IMF revises its targest twice a year,so if things don't go as planned then you could see a revision in April'15.

 

[farhan_9909]

Good for you.The target looks pretty ambitious as IMF predicts it to be 4.3% only isnt it??
PS-From which month Pakistan's first quarter of financial year starts??

Last year IMF initially projected growth rate for Pakistan was 3.1% which was later increased to 3.7% until we clocked 4.1%.if not 5.1% than i am sure nothing less than atleast 4.8% for this year.

 

[+4vsgorillas-Apebane]

Grandpa, you'll long be dead by then.

We will alll be long dead by the time Indians realise that grandpa made a very valid point.

 

[Chanakya's_Chant]

Can Modi be blamed for the continuing slowdown in the Indian growth rate?

Prime Minister Narendra Modi is increasing his focus on economic reforms including raising the cap on foreign investment in the insurance sector and changes to tax and labour rules that will accelerate recovery - these are the key reforms coming up in this financial year -

FDI IN INSURANCE

- Government needs approval during a parliamentary session starting on Nov. 24 to allow overseas investors to hold a 49 percent stake in insurance companies, up from the current 26 percent cap. The law would also raise the cap for the pension industry. Opposition have not yet promised support needed to pass the law in upper house.

- The industry expects that raising the cap would result in $2 billion of inflows into insurance.

LAND PURCHASE RULES

- The government wants to make it easier to buy land for infrastructure and industrial projects, possibly by exempting public-private partnerships from an act passed last year. Opposition partes are expected to resist. Modi could seek to change the law in a joint session of both houses of parliament or by decree early next year.

- Road projects alone worth $10 billion face delays over land disputes and other clearances.

LABOUR REFORMS

- Modi has promised to amend archaic labour laws, reducing regulatory interference while coaxing employees' with more benefits. Initial softball measures are awaiting parliamentary approval. The government will have to overcome union resistance to move forward on relaxing restrictions on hiring and firing.

GOODS AND SERVICE TAX

- The government wants to pass a constitutional amendment in the parliamentary session, then win the consent of state assemblies to implement India's first nationwide service tax union by April 2016. If successful, economists say the measure could add 2 percentage points to GDP growth.

- Most state governments are on board, but the main opposition Congress has still not given its backing.

- Consensus still missing on the final GST tax rates – recommendations vary from 16 percent to 27 percent.

ASSET SALES

- The government plans to raise nearly $9.5 billion by selling stakes in state-run and private companies including oil explorer ONGC and Coal India by March.

- Analysts doubt whether the target will be achieved. Market valuations are high and Modi seems determined to overcome labour union opposition to the Coal India sale, but the government has started the sell off late in the financial year.

SUBSIDY REFORMS

- Government plans to cut wasteful subsidies on fuel, fertiliser and food, estimated at over 21 percent of total estimated revenue receipts in 2014/15.

- The government has ended diesel subsidies and is waiting for a panel's report to announce next steps, possibly in the annual budget in February.

COAL

- Coal fields will be auctioned by February, and will be followed by plans to allow commercial coal mining for the first time, and invite in foreign miners. The government used an executive decree to bring about the changes. Now it needs parliamentary support.

MOBILE, RADIO SPECTRUM

- The government is planning the sale of mobile telephone and FM radio spectrum in early 2015.

Already superpower since 2012, 5% growth is just gravy.

Plenty to achieve white slaves by 2030.

What's behind the pathological hatred for India by many of the Chinese members out here? - you are the latest one to join their league.

 

[Arya Desa]

What's behind the pathological hatred for India by many of the Chinese members out here? - you are the latest one to join their league.

The CCP has dictated to them. You must understand they have never had free agency.

 

[rcrmj]

It is typical 3rd world thinking to assume that every new leader is "the one" that will turn their country into a superpower. The same thing happened with previous Indian leaders. This is common to people suffering from severe mental deficits.

Mark my words and bookmark my comment. In 2-3 years everyone will hate Modi and consider him weak, cowardly, and a destroyer of the Indian economy. Indians have a habit of blaming all of their problems on their government, when they are the one's that elect these leaders. Indian leaders come out of the Indian population, no different from any other nation. Indians don't seem to realize that the endemic corruption and stupidity of thousands of officials all across India is a reflection of the intellect and personality of the people they came from!

People aren't just nice and then they become politicians and turn evil and corrupt overnight. They were always like this. Switch any random Indian from a random Indian city into a politician and they will do the EXACT same job and steal the same amount of money. In fact they may be even worse because of a lack of education. Change comes from within a population, not by just "electing the right leader". This is the idiocy of the 3rd world intellect.

well said, this is the reality we are talking about, but those deluded people believe that a certain event or a high rated figure would somehow change that primitive feudal society into a democratic and civil society at once

 

[Chinese-Dragon]

Let me teach you slowly,

Step by step,

Step one......

Have you seen a spring, a mechanical spring?

What about basic maths?

India at $1.8 trillion, growing at 4-5% a year... how long will it take for India to reach China's 2014 level of $10.4 trillion?

Use a simple compound interest formula to get an estimate.

How many decades will it take? It's longer than you think. Just to reach our current level in 2014 as a medium-tier developing country.

 

[Water Car Engineer]

It is typical 3rd world thinking to assume that every new leader is "the one" that will turn their country into a superpower. The same thing happened with previous Indian leaders. This is common to people suffering from severe mental deficits.

Mark my words and bookmark my comment. In 2-3 years everyone will hate Modi and consider him weak, cowardly, and a destroyer of the Indian economy. Indians have a habit of blaming all of their problems on their government, when they are the one's that elect these leaders. Indian leaders come out of the Indian population, no different from any other nation. Indians don't seem to realize that the endemic corruption and stupidity of thousands of officials all across India is a reflection of the intellect and personality of the people they came from!

People aren't just nice and then they become politicians and turn evil and corrupt overnight. They were always like this. Switch any random Indian from a random Indian city into a politician and they will do the EXACT same job and steal the same amount of money. In fact they may be even worse because of a lack of education. Change comes from within a population, not by just "electing the right leader". This is the idiocy of the 3rd world intellect.

How is that a 3rd world thinking? Do you live in America even? And what happened to Obama from the initial years, to the recent elections?