Indian Economy 2019: Make or Break (CSIS)

[faithfulguy]

The western media and some western paid Indians were pro demonetization. All the Indians fell for another weak old scheme. Chinese people would never fall for this. They know praises by west is bad. Indians want approval so bad they even sacrifice their economy for a thumbs up Pat on the head by white daddy.

Indians live by the approvalsfrom westerners. They want to be the number 1 servants. They view none westerns trying to break away from western created rules as rebels. India need to end their slave mentality.

 

[Jlaw]

Indians live by the approvalsfrom westerners. They want to be the number 1 servants. They view none westerns trying to break away from western created rules as rebels. India need to end their slave mentality.

You can't end slave mentality without a war against your old master.

 

[faithfulguy]

You can't end slave mentality without a war against your old master.

America rebelled so America does not have the king/queen. Canada didn’t so Canada has the queen as the head of state. India didn’t either so the queen QE2should still be the queen of India. I think that is better for India as Indians do not know what independence means.

 

[Han Patriot]

America rebelled so America does not have the king/queen. Canada didn’t so Canada has the queen as the head of state. India didn’t either so the queen QE2should still be the queen of India. I think that is better for India as Indians do not know what independence means.

You see they pride themselves being CEOs for western companies, I am not saying that's bad. Look at Jack Ma, he couldn't even qualify as a KFC staff. He would be at the bottom of the food chain in a western MNC. In China we thousand of these people, talented driven but just don't speak good English. Chinese tend to fight the system to be equals, Indians accept the system.

Remember when we told the Indians about Artermisin discovery, they were dismissing it until the discoverer got a Nobel prize, which was 40 years late. In China there is alot of these hidden technologies and discoveries unknown to the West due to language barrier.

 

[faithfulguy]

You see they pride themselves being CEOs for western companies, I am not saying that's bad. Look at Jack Ma, he couldn't even qualify as a KFC staff. He would be at the bottom of the food chain in a western MNC. In China we thousand of these people, talented driven but just don't speak good English. Chinese tend to fight the system to be equals, Indians accept the system.

Remember when we told the Indians about Artermisin discovery, they were dismissing it until the discoverer got a Nobel prize, which was 40 years late. In China there is alot of these hidden technologies and discoveries unknown to the West due to language barrier.

Indian slave mentality is there since the beginning of time. British is just the latest enslaver and they never really left. Indians today still measure themselves on how well they can please their master.

It’s time for Indians to take the blue pill and wake up.

 

[randomradio]

After 2 years of not checking on demonetization I found this, I was the first to ask why print a bigger denomination if you want to stop black money.. You guys were scolding me inside out for asking this.
India stops printing Rs 2,000 note, two years after its shock launch
https://theprint.in/economy/india-s...note-two-years-after-its-shock-launch/172578/

https://www.fortuneindia.com/macro/demonetisation-a-failed-initiative/102347

This was a bigger f up than I imagined.


Dude, I am really interested what happened after demonetization. I mean in China we change the currency to new denomination slowly to avoid economic trouble and disruption. We had already eliminated big denominations years ago and these geniuses actually printed a bigger one to 'fight corruption'. So after going through all the unemployment, pain and suicides, it was just for nothing? These geniuses really can f up on a gargantuan scale.

Basically in one stroke, he legalized all the black money and made it white. This is epic f up man. I think he did it on purpose.

There is a surplus of 2000Rs notes. Nothing special there. RBI is pushing for release of other denominations also.

The size of the currency has nothing to do with black money. Black money is in the form of real estate and gold.

You see they pride themselves being CEOs for western companies, I am not saying that's bad. Look at Jack Ma, he couldn't even qualify as a KFC staff. He would be at the bottom of the food chain in a western MNC. In China we thousand of these people, talented driven but just don't speak good English. Chinese tend to fight the system to be equals, Indians accept the system.

Remember when we told the Indians about Artermisin discovery, they were dismissing it until the discoverer got a Nobel prize, which was 40 years late. In China there is alot of these hidden technologies and discoveries unknown to the West due to language barrier.

Nope. What China does is not let in the big fish into their pond. With no big fish, all the small fishes are allowed to grow. If China wasn't a big country with a large population, this strategy would have failed long ago. So it's the same system, just with Chinese players instead.

But we do not need to resort to such cheap strategies.

Indians live by the approvalsfrom westerners. They want to be the number 1 servants. They view none westerns trying to break away from western created rules as rebels. India need to end their slave mentality.

Your country was shuttled between two white countries, US and USSR for over 40 years. We never were in that position.

 

[Turingsage]

America rebelled so America does not have the king/queen. Canada didn’t so Canada has the queen as the head of state. India didn’t either so the queen QE2should still be the queen of India. I think that is better for India as Indians do not know what independence means.

The Congress party was formed in 1885 with the sole purpose of a non-violent struggle for independence from the British crown and create a Republic. Repubics do not have queens and kings as heads of state but instead have a president with fixed term.
The Independence struggle of course began long before 1885 with many disparate groups many of whom promulgated a violent overthrow. They were contained as violence offered the British to use even greater violence. Congress subsumed these many disparate groups into a strong non-violent resistance movement that left the Brits with little choice but to grant independence to India or risk an ignominious military catastrophe.
They opened the flood gates of independence in Asia and Africa when Congress showed the way.
The jewel in Queen Victoria's empire was lost and the rest of the colonies followed.

 

[Nilgiri]

I was watching Live and fell asleep listening to that girl. She was so off topic that made me sleep but will watch the guy you mentioned today and come back with keynotes.

I gave a hint as to which speakers were most relevant in my original post heh.

https://www.ndtv.com/india-news/nea...n-10-months-central-statistics-office-1906099
Nearly 1.2 crore jobs were created in the country in the 10-month period till June this year, as per a Central Statistics Office or CSO report.

1.2 crore = 12 million.

You can't fudge these figures since it's now all connected to a person's biometrics through Aadhaar. So 1 account = 1 person.

Also, financing for entrepreneurs:
https://www.thehindubusinessline.co...to-12-cr-beneficiaries-pm/article24020964.ece
Prime Minister Narendra Modi today said that loans worth ₹6 lakh crore have been given to 12 crore beneficiaries under the Mudra scheme as he accused the previous governments of tokenism and not enough for small businesses.

This includes first-timers:
“Out of the 12 crore beneficiaries, 28 per cent or 3.25 crore are first-time entrepreneurs,” he said in his interaction with beneficiaries of this scheme.

12Cr = 120 million. 3.25Cr = 32.5 million.

Minorities are also taken care of:
He also said 74 per cent, or 9 crore, borrowers are women and 55 per cent belong to the SC/ST and OBC category. "Mudra Yojana is not just a self employment scheme but it acts as job multiplier as it has created jobs as several new ventures got started," he said.

9Cr = 90 million.

This scheme been successful because the NPAs in this program are significantly low.
https://economictimes.indiatimes.co...spike-in-mudra-loans/articleshow/67511045.cms
Rs 110,000,000,000 are NPA out of the disbursed Rs 2,460,000,000,000 in 2017-18 to 48.1 million people, which is peanuts for such a high risk investment.

Note that this is up and above what's been mentioned in the first link, which is solely for employment for formal jobs where the employer has to link an employee with a govt created fund and make payments every month.

So 12 million employed in 10 months of 2017-18. Obviously doesn't include 2 more months, but let's just approximate that to 14 million for a year. And business loans extended to 48.1 million people the same year. Let's assume 25% are first-timers, which makes it 12 million people, mostly women.

So 14+12 = 26 million people have been given a means of living in the year 2017-2018. 14 million with formal employment. 12 million in the informal sector, as entrepreneurs.

Note that both these do not count the entire jobs market because it's difficult to include half the population into these figures considering they are into agriculture and most do not report to the govt. Nor do these cover daily wage earners, servants etc. These figures don't cover govt supplied part-time work that happens in villages either. So it's obviously way more than 26 million a year.

Our jobs situation is fine. Most articles pointing out a "jobs creation problem" have vested interests and no real interest in discovering the truth.

@Nilgiri @Vibrio Anything to add?

I've already talked this over enough with enough members that matter here (as to the state of Indian employment data collection and analysis, past, current and future).

No point engaging with CPC-STRONK trolls....they are a lost cause. Either they getting paid 5 cents a posts...or they are in Singapore etc... angry having to work under an Indian boss etc.

Its best to be selective with your time, your post does the basic job for this thread I'd say.

 

[AyanRay]

https://www.fortuneindia.com/macro/demonetisation-a-failed-initiative/102347
This was a bigger f up than I imagined.

So in 2 years after demonitization the currency in circulation fell by 0.7%. In these two years, India's nominal GDP in INR rose by about 24-25%. So lesser quantity of currency is in the market than what was during 15th Nov 2016, even though GDP rose by 25%, and you idiot think demonitization was a total failure?

Basically in one stroke, he legalized all the black money and made it white. This is epic f up man. I think he did it on purpose.

Another self proclaimed economist who thinks depositing currency into bank accounts turns black money into white. Go and do some research into the rise of people filing income tax after demonitization or share of direct tax to GDP before and after demonitization.

 

[enquencher]

So in 2 years after demonitization the currency in circulation fell by 0.7%. In these two years, India's nominal GDP in INR rose by about 24-25%. So lesser quantity of currency is in the market than what was during 15th Nov 2016, even though GDP rose by 25%, and you idiot think demonitization was a total failure?



Another self proclaimed economist who thinks depositing currency into bank accounts turns black money into white. Go and do some research into the rise of people filing income tax after demonitization or share of direct tax to GDP before and after demonitization.

Dnt ngage 5 cent cheap trolls.

 

[Han Patriot]

So in 2 years after demonitization the currency in circulation fell by 0.7%. In these two years, India's nominal GDP in INR rose by about 24-25%. So lesser quantity of currency is in the market than what was during 15th Nov 2016, even though GDP rose by 25%, and you idiot think demonitization was a total failure?



Another self proclaimed economist who thinks depositing currency into bank accounts turns black money into white. Go and do some research into the rise of people filing income tax after demonitization or share of direct tax to GDP before and after demonitization.

India's GDP grew by 25% .... . Calm down bhai, I was just pointing out what other Indians are saying. Other Indians are painting different picture from what you just told me. So what is the truth? Is unemployment rising? YES. Did demonetization destroyed the livelihoods of MILLIONS, YES.

Another self proclaimed economist who thinks depositing currency into bank accounts turns black money into white. Go and do some research into the rise of people filing income tax after demonitization or share of direct tax to GDP before and after demonitization.

That's not me saying it, it's INDIANS saying it. You can either explain it like an educated person or you can act like the typical Indian you are.

 

[randomradio]

or they are in Singapore etc... angry having to work under an Indian boss etc.

Ouch.

 

[kmc_chacko]

India likely to surpass UK in the world's largest economy rankings: PwC

India is likely to surpass the United Kingdom in the world's largest economy rankings in 2019, according to a report by global consultancy firm PwC. As per the report, while the UK and France have regularly switched places owing to similar levels of development and roughly equal populations, India's climb up the rankings is likely to be permanent.

PwC's Global Economy Watch report projects real GDP growth of 1.6 per cent for the UK, 1.7 per cent for France and 7.6 per cent for India in 2019.

"India and France are likely to surpass the UK in the world's largest economy rankings in 2019, knocking it from fifth to seventh place in the global table," the report said.

According to World Bank data, India became the world's sixth largest economy in 2017 surpassing France and was likely to go past the UK which stood at the fifth position.

https://economictimes.indiatimes.co...economy-rankings-pwc/articleshow/67609647.cms