Indian GDP Shrinks to $1.7 Trillion in 2013-14

[amitkriit]

The economic down-slide is the result of GOI's skewed priorities. We do not have the money to spend on infrastructure, education, ports, but the current central government opened it's coffers for the so-called "socialist, pro-people schemes". Most Indians already know who will be the real beneficiaries of such schemes.

We have hit acute policy paralysis, and whatever global clout we have is weathering.

 

[Chronos]

I forgot to mention that I utilized Google, Yahoo, and Bing searches. I knew better than using PDF as a representative sample.

However, since my searches are done in English only, my informal research may only be yielding something representative of the English speaking population in India with access to the web, which I understand to be a small elite.

This is why I asked for your opinion and confirmation, with the understanding that 'average' Indians care much less about this 'India vs China' muck.

I know just Malayalam (my regional language) I don't know how to read Hindi proficiently, so my opinion should be taken with a pinch of salt as a lot of the more stuff aimed at the common man is published in Hindi.

lol, welcome to our life, the entire english portion of internet is used against China. Facts don't matter here. Anything and everything will be used against us.

We have one child policy, crime against humanity, we abolish it, too much chinese, somebody should do something.

lol We can't win.

Also why I spend more and more of my time not in the english section of the internet.

I am sort of scared that fatigue is starting to set in among Indians on sexual violence news.

Don't get me wrong, the crimes are horrific and should be addressed. But when you see people insulting your nationality ovr and over, fatigue sets in.

I still wonder why the Indian government didn't use the initial outrage to push through a lot of reforms in this front.

A lot of Indians who reads the english section pretty much gets trolled.

So I stick to reading the Hindu newspaper or my regional language paper (sometimes)

 

[Gandhi G in da house]

The India Rupee was in the low to mid-50s against the Dollar back in 2012. As of now, it's valued at 62.31 to one Dollar. Last year, the Rupee fell as low as 68+. The IMF and WB will take the average value of the rupee in the year 2013 and compute Dollar-denominated GDP base on that.

In other words, not good, not good at all.

But, as they used to say, 'slow and steady wins the race', provided that India is not racing in the wrong direction.

Slow and steady as she goes... Chuckle.

Why such evil enthusiasm over a couple of bad years of Indian economy ? What does a hungry Chinese kid get if India does badly for a couple of years ?

Also, it's a race only if you want it to be a race. This race between India and China is a concoction of the Western powers/media which want both these countries to focus on each other and destroy themselves in the process so that Western/white hegemony in the world continues.

As far as India is concerned , we will eventually get back to where we were. Won't take long. In the meanwhile you may want to look more closely at the allegations of your provincial governments in China cooking up economic numbers , if you really care.

 

[ChineseTiger1986]

Why such evil enthusiasm over a couple of bad years of Indian economy ? What does a hungry Chinese kid get if India does badly for a couple of years ?

Also, it's a race only if you want it to be a race. This race between India and China is a concoction of the Western powers/media which want both these countries to focus on each other and destroy themselves in the process so that Western/white hegemony in the world continues.

As far as India is concerned , we will eventually get back to where we were. Won't take long. In the meanwhile you may want to look more closely at the allegations of your provincial governments in China cooking up economic numbers , if you really care.

Well, the Chinese citizens bought 22 million cars in 2013, while the Indian citizens only bought 1.8 million cars.

Why it is so hard for you to accept that China's GDP is 6 times larger than that of India? The numbers simply don't lie.

 

[amitkriit]

Why such evil enthusiasm over a couple of bad years of Indian economy ? What does a hungry Chinese kid get if India does badly for a couple of years ?

Also, it's a race only if you want it to be a race. This race between India and China is a concoction of the Western powers/media which want both these countries to focus on each other and destroy themselves in the process so that Western/white hegemony in the world continues.

As far as India is concerned , we will eventually get back to where we were. Won't take long. In the meanwhile you may want to look more closely at the allegations of your provincial governments in China cooking up economic numbers , if you really care.

Trust me, if we fall far behind, some rival will put a gun on our head and pull the trigger. The pace at which we must grow depends on geopolitical factors. May be China fudges it's stats, but the stats are not all wrong.

This is not a "Hare tortoise race", this one is a race between the "the predator and the prey" and we better stay ahead in the chase.

 

[Gandhi G in da house]

Well, the Chinese citizens bought 22 million cars in 2013, while the Indian citizens only bought 1.8 million cars.

Why it is so hard for you to accept that China's GDP is 6 times larger? The numbers don't lie.

That , if true, doesn't prove anything. China's economy is larger than India no doubt. but this a very weak defence for all the questions over credibility of China's economic numbers.

And yes numbers do lie , if the numbers are lies themselves. Especially in a dictatorial country like China, numbers can be lies.

Trust me, if we fall far behind, some rival will put a gun on our head and pull the trigger. The pace at which we must grow depends on geopolitical factors. May be China fudges it's stats, but the stats are not all wrong.

This is not a "Hare tortoise race", this one is a race between the "the predator and the prey" and we better stay ahead in the chase.

I don't consider it a race at all.

We need to grow fast and get back to the period of growth between 2003-2010. But all of this for our own sake and not for competing with anybody. Don't know about you , but I am not falling prey to this Western design of making India try to compete with China.

 

[ChineseTiger1986]

That , if true, doesn't prove anything. China's economy is larger than India no doubt. but this a very weak defence for all the questions over credibility of China's economic numbers.

And yes numbers do lie , if the numbers are lies themselves. Especially in a dictatorial country like China, numbers can be lies.



I don't consider it a race at all.

We need to grow fast and get back to the period of growth between 2003-2010. But all of this for our own sake and not for competing with anybody. Don't know about you , but I am not falling prey to this Western design of making India try to compete with China.

China's economy has any miscalculation, then it is clearly understated.

Since China now has the largest manufacturing base, the largest trade, the largest consumption.

Its economy cannot be smaller than the official statement at all.

 

[Chronos]

Well, the Chinese citizens bought 22 million cars in 2013, while the Indian citizens only bought 1.8 million cars.

Why it is so hard for you to accept that China's GDP is 6 times larger than that of India? The numbers simply don't lie.

Do you really want people buying more cars?

I know the Chinese have now really stepped up in pollution reduction. But still...

 

[Gandhi G in da house]

China's economy has any miscalculation, then it is clearly understated.

Since China now has the largest manufacturing base, the largest trade, the largest consumption.

Its economy cannot be smaller than the official statement at all.

Too much fanboyism here.

 

[ChineseTiger1986]

Do you really want people buying more cars?

I know the Chinese have now really stepped up in pollution reduction. But still...

China with more market share could have the power to demand the competitors to bring more environmental friendly models.

Too much fanboyism here.

I am stating the fact, don't let the jealousy clouding your judgement.

 

[amitkriit]

That , if true, doesn't prove anything. China's economy is larger than India no doubt. but this a very weak defence for all the questions over credibility of China's economic numbers.

And yes numbers do lie , if the numbers are lies themselves. Especially in a dictatorial country like China, numbers can be lies.



I don't consider it a race at all.

We need to grow fast and get back to the period of growth between 2003-2010. But all of this for our own sake and not for competing with anybody. Don't know about you , but I am not falling prey to this Western design of making India try to compete with China.

We need to achieve real growth rate of 9% or above for the sake of our poor and jobless citizens. I do not see that happening unless and until the "socialist programs" are withdrawn and instead the focus goes back on creating infrastructure, supporting industries and creating jobs for our people. Only the poorest of the poor must be provided social security cover. We are not Europe, our priorities must be based on our realities.

 

[Gandhi G in da house]

I am stating the fact, don't let the jealousy clouding your judgement.

Fact needs to be backed by proof. What you stated was just your personal fanboy opinion.

 

[Fattyacids]

Too much fanboyism here.

Fanboyism? Coming from an indian who cannot grasp the correlation between poverty and GDP growth.

Fact needs to be backed by proof. What you stated was just your personal fanboy opinion.

Let me educate your dimwitted mind once again, official GDP are compiled by World, IMF and various investment banks. International trade data, import and export figures, payment settlements are all facilitated and recorded by international merchant banks.

 

[Hypersonicmissiles]

Nearly all multinationals regard China as their largest or 2nd largest market. China is now the largest in many areas such as energy consumption and production, electricity consumption and production, largest trader, largest exporter, 2nd largest importer, largest automobile producer and consumer, largest consumer of smartphones and PCs, 2nd largest E-commerce market, 2nd largest luxury consumer, 3rd largest total consumer, 3rd largest household wealth, 2nd largest movie market, largest industrial output, 2nd largest oil consumer, largest steel producer and consumer, largest trading nation to over 120 countries, largest manufacturer, largest raw materials consumer, etc.

If anything China's GDP is UNDERSTATED by a significant margin.

Chinese economy should be a lot closer to the US economy. Other indicators show China is already the largest in many areas.

 

[Chinese-Dragon]

Double Post.