Indian economy on ‘very solid track’, says Christine Lagarde

[IndoCarib]

Days after the International Monetary Fund lowered its growth forecast for the current and the next year, IMF chief Christine Lagarde today said the Indian economy is on a “very solid track” in the mid-term.

“Turning to India...we have slightly downgraded India; but we believe that India is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years,” the IMF Managing Director Lagarde said.

Describing the two major recent reforms in India — demonetisation and Goods and Services Tax (GST) — as a monumental effort, Lagarde said it is hardly surprising that there “is a little bit of a short-term slowdown” as a result.

“But for the medium term, we see a very solid track ahead for the Indian economy,” she said to a question on India.

“We very much hope that the combination of fiscal, because the deficit has been reduced, inflation has been down significantly, and the structural reforms will actually deliver the jobs that the Indian population, particularly the young Indian people expect in the future,” Ms. Lagarde said.

http://www.thehindu.com/business/Ec...ck-says-christine-lagarde/article19865325.ece

 

[IndoCarib]

@The Eagle
@Joe Shearer
@SoulSpokesman

 

[Joe Shearer]

@The Eagle
@Joe Shearer
@SoulSpokesman

What do YOU make of it, dear Sanghibot?

• Do you see this as an endorsement of Chhappanincheshwar?
• Do you see this as a thankful sign that the economy is too robust to suffer substantial damage even at the hands of a bigot with a clouded intellect and a sense of drama and a photo-opportunity?
• Do you see this as a conspiracy by the nocturnal lords of international finance to delude the Indian people into a false sense of security, so that they can dabble in financial intrigue and bring this country under their leash once more?

Do let us have your valued opinion.

I presume @The Eagle is the moderate centrist in this line-up, with @SoulSpokesman on the left and me on the right?

 

[The Eagle]

@The Eagle
@Joe Shearer
@SoulSpokesman

You tagged for a reason that I know, after I and many others had discussion on two different threads today. Indeed, as a beauty of debate and democracy ( I love this word when the other side has to hide many things and other side means the corrupt lot no matter of any nationality), I and many others were waiting for another counter thread. IMF accept the downgrading as well as downfall but narrated the same with Short Term thus, current picture is not good in terms of downfall though, a promise or hope is being told to stick with it. Now, if we may consider the same that soon it will be all good and economy will be out of current turbulence then, what about the tomorrow that actually depends what you have today.

While seeing the response by @Joe Shearer , lol (pushed me to front end knowing that nothing will affect on other side despite our or anyone's efforts), Sire, got the humor.

 

[Joe Shearer]

You tagged for a reason that I know, after I and many others had discussion on two different threads today. Indeed, as a beauty of debate and democracy ( I love this word when the other side has to hide many things and other side means the corrupt lot no matter of any nationality), I and many others were waiting for another counter thread. IMF accept the downgrading as well as downfall but narrated the same with Short Term thus, current picture is not good in terms of downfall though, a promise or hope is being told to stick with it. Now, if we may consider the same that soon it will be all good and economy will be out of current turbulence then, what about the tomorrow that actually depends what you have today.

While seeing the response by @Joe Shearer , lol (pushed me to front end knowing that nothing will affect on other side despite our or anyone's efforts), Sire, got the humor.

How else can one stay sane, chief? I hope you also noticed my exchanging my ideological position with my other friend's

 

[IndoCarib]

What do YOU make of it, dear Sanghibot?

• Do you see this as an endorsement of Chhappanincheshwar?
• Do you see this as a thankful sign that the economy is too robust to suffer substantial damage even at the hands of a bigot with a clouded intellect and a sense of drama and a photo-opportunity?
• Do you see this as a conspiracy by the nocturnal lords of international finance to delude the Indian people into a false sense of security, so that they can dabble in financial intrigue and bring this country under their leash once more?

Do let us have your valued opinion.

I presume @The Eagle is the moderate centrist in this line-up, with @SoulSpokesman on the left and me on the right?

This was meant to rile you up, you CongBot, and rile it did ! Your sleepless nights have begun because your masters in the secular club are not coming to power soon any time soon. You just cant fathom the fact that Modi is driving economy up afters years of MMS sleeping at the wheel. Now stop your mumbo jumbo and speak plain English. WILL YOU !?

 

[thesolar65]

I will wait. My business hasn't been affected till date nor have I fired any of my employees.

 

[Joe Shearer]

This was meant to rile you up, you CongBot, and rile it did ! Your sleepless nights have begun because your masters in the secular club are not coming to power soon any time soon. You just cant fathom the fact that Modi is driving economy up afters years of MMS sleeping at the wheel. Now your mumbo jumbo and speak plain English. WILL YOU !?

On the contrary, looks like that bunch of hapless idiots is coming back. It is our tragedy that we have to choose between fools and knaves.

All the best results were while MMS was 'sleeping at the wheel'. Perhaps we need to find someone else to 'sleep at the wheel', rather than wheeze into a mike to a transfixed audience some pleasantry about the size of his chest.

About my English, can I help it being so superior?

I will wait. My business hasn't been affected till date nor have I fired any of my employees.

Your employees are to be congratulated.

 

[IndoCarib]

You tagged for a reason that I know, after I and many others had discussion on two different threads today. Indeed, as a beauty of debate and democracy ( I love this word when the other side has to hide many things and other side means the corrupt lot no matter of any nationality), I and many others were waiting for another counter thread. IMF accept the downgrading as well as downfall but narrated the same with Short Term thus, current picture is not good in terms of downfall though, a promise or hope is being told to stick with it. Now, if we may consider the same that soon it will be all good and economy will be out of current turbulence then, what about the tomorrow that actually depends what you have today.

While seeing the response by @Joe Shearer , lol (pushed me to front end knowing that nothing will affect on other side despite our or anyone's efforts), Sire, got the humor.

Current picture IS GOOD. because it is real growth in clean money. India had to wait for Modi to clean up its financial system. few inches of dirt has gone after the clean up. Now just imagine what real clean growth in double digits will do for India's economy

On the contrary, looks like that bunch of hapless idiots is coming back. It is our tragedy that we have to choose between fools and knaves.

All the best results were while MMS was 'sleeping at the wheel'. Perhaps we need to find someone else to 'sleep at the wheel', rather than wheeze into a mike to a transfixed audience some pleasantry about the size of his chest.

About my English, can I help it being so superior?



Your employees are to be congratulated.

So Time's cover was a conspiracy ? No. Your English is inferior and it is still mumbo jumbo

 

[Joe Shearer]

Current picture IS GOOD. because it is real growth in clean money. India had to wait for Modi to clean up its financial system. few inches of dirt has gone after the clean up. Now just imagine what real clean growth in double digits will do for India's economy

It will take so long that neither of us will be there to see that transformation.

So Time's cover was a conspiracy ? No. Your English is inferior and it is still mumbo jumbo

I quite agree with you, but who am I to argue with the rest of the world?

 

[The Eagle]

Current picture IS GOOD. because it is real growth in clean money. India had to wait for Modi to clean up its financial system. few inches of dirt has gone after the clean up. Now just imagine what real clean growth in double digits will do for India's economy

I have no issues with the growth of India's Finance but I or may be very few will have an observation over growth to particular community/political people that ultimately, will affect not today but after a while. Speaking of clean money, there have been voices w.r.t. demonetization and NaMO's party members taking full advantage of the same at large. However, as I, Joe Sire and couple of other members were discussing in different thread, actually people in power wouldn't let you know the other side of the picture or I may call it the dark side. Political differences aside like between you or @Joe Shearer here but one must read the criticism as for good and make productive for later advantage. What IMF said is not a promise made in heaven, trust me as we have been dealing with them since long. The half truth is being told that Yes, there is downslide but for face value success, says that there is nothing to worry (despite it is in front somehow). I don't think so that there is merely one concern w.r.t. bad economic position under NaMO but it has been in discussion since long that too for the people that may at-least read it and take a bit to check whether such chemistry is true or not and the same can be proven once a person willing to dig the truth.

 

[Nilgiri]

Days after the International Monetary Fund lowered its growth forecast for the current and the next year, IMF chief Christine Lagarde today said the Indian economy is on a “very solid track” in the mid-term.

“Turning to India...we have slightly downgraded India; but we believe that India is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years,” the IMF Managing Director Lagarde said.

Describing the two major recent reforms in India — demonetisation and Goods and Services Tax (GST) — as a monumental effort, Lagarde said it is hardly surprising that there “is a little bit of a short-term slowdown” as a result.

“But for the medium term, we see a very solid track ahead for the Indian economy,” she said to a question on India.

“We very much hope that the combination of fiscal, because the deficit has been reduced, inflation has been down significantly, and the structural reforms will actually deliver the jobs that the Indian population, particularly the young Indian people expect in the future,” Ms. Lagarde said.

http://www.thehindu.com/business/Ec...ck-says-christine-lagarde/article19865325.ece

Dude its waste of time to try discuss here....try look at the in-depth discussions in actual economy-based forums...you will learn more from all sides and perspectives. The high frequency data coming in is already silencing those hoping the window for their political/butthurt antics was larger.

Its really no fun for them when morgan stanley, IMF, World Bank and others (unless they deflect to that they have been infiltrated by BJP and are part of the right wing/sanghi conspiracy you see) all support the side of the modi administration reforms...and have agreed the benefits will come long term for some short term "pain" (as though this pain never existed before for the masses of aam admi)....I mean what is better and higher formalisation, digitisation and efficiency supposed to do?

How dare the exports increase 26% yoy in September when Rupee appreciated this much already, Indian economy is "destroyed" and exporters themselves were complaining about GST implementation, sop-killing and terrible grace period etc etc? How dare that they will now in all likelihood increase even more given the massive logistics boost and quick reaction by govt of their concerns?

How dare the IIP (as much reform it is needed in first place in measurement) increase above 4% when best optimistic ppl were saying 2%, and many saying negative?

How dare MUDRA results come in and be quite successful in the jobs front and plenty of feedback for the govt to improve even more and encourage the start of such liquidity schemes in other sectors?

How dare aadhar is harnesses to make all PDS type schemes much more efficient and cut waste? (Nilekani proposed it saved 9 billion dollars in largely bureaucratic overhead alone).

How dare electrification and road construction proceed at their highest rates ever?

How dare the proposal that GST cover real estate as natural expansion and reform with even more formalisation come into the picture.

How dare Air India be privatised and greater privatisation of all badly handled PSUs be sought?

How dare rural wages increase?

How dare we destroy all these liquidity sapping shell companies?:

https://timesofindia.indiatimes.com...anies-within-15-days/articleshow/60927911.cms

How dare they, how dare they...I can go on and on with this....this is just a start.

But Naaaah Mrs Lagarde, Mr Kim and all the others simply are Modi Toadies, they dont look at any underlying data past what Modi says obviously. After all they bought into the new India GDP series which was concocted in less than a few months and had no UPA heritage (much like GST doesnt either) at all neither any connection to the IMF international standards based on SNA 2008 either!

Honestly you just need to simply let rest of the year and next one play out to be honest. The important thing is what the actual people think about whats being done and the impact on their lives past,present and future....in comparison with all the other alternatives on offer. UP elections was a sobering reality check in this regard (esp given how many people were wildly speculating all kinds of scenarios with the highest confidence yet strangely believe they never have to eat their straw hats ever), how quick people are to forget it.

@Two

 

[Han Patriot]

http://www.livemint.com/Opinion/KRcrvMmdafwi1AtNxEhTkL/What-went-wrong-with-the-Indian-economy.html

In short, the economy has been weak for many years, with low investment and sluggish exports. The plunge in oil prices was a bonanza which accounted for a large part of the improvement in growth in 2014-15 and 2015-16. In 2016-17 and the first quarter of 2017-18, as the windfall gain from the drop in oil prices tapered off, it could no longer paper over the underlying problems in the rest of the economy; the disruption caused by demonetisation and GST aggravated the downturn.

 

[Lotus_stalk]

Christine Lagarde is a Bhakt.

 

[IndoCarib]

Christine Lagarde is a Bhakt.

If you say nationalistic things like Economy is good, there is no intolerance and Pakistan is a terrorist state , you are quickly branded a sanghibot. That is liberal's level of tolerance