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India’s GDP to expand by 7.9% this fiscal: Goldman

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Let farmers into the factory, it is very difficult, how India going to perform? India's vocational and technical education level? How to let farmers familiar Jobs?

Yes, it is a challenge. Institutionalizing vocational training that will transform a farmer into industrial worker will be a big challenge for India. But does India has a choice?
 
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The program of 'make in India' revolves around transferring excess labour from agriculture to manufacturing sector.

That will be a disaster if you ask me in a growing population country. We should give farmers enough incentives to continue farming, and encourage his next generation to choose farming too. Industrial labor forces can be filled by the land less low income urban dwellers.

The main problem is, we look at farming as a low end job, taken by people without any formal education. But we have to change this outlook.
 
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i think there is government program "skill India" which will provide training to people in rural areas
 
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Let farmers into the factory, it is very difficult, how India going to perform? India's vocational and technical education level? How to let farmers familiar Jobs?
It's a tough choice for all countries...
No or very little automation-----low-skill-----number of jobs is high------very little profit-----prolonged poverty
Automation-----high-skill-----number of jobs is low-----high profit but high unemployment----social unrest
 
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That will be a disaster if you ask me in a growing population country. We should give farmers enough incentives to continue farming, and encourage his next generation to choose farming too. Industrial labor forces can be filled by the land less low income urban dwellers.

The main problem is, we look at farming as a low end job, taken by people without any formal education. But we have to change this outlook.

Agriculture is important, but is a low productive sector. Over 60% of India's labour force depends on agri sector that just contribute to only 16% of India's GDP. There sure is excess labor. I am not suggesting that we altogether stop people from working in agri sector, but the excess work force in agriculture that doesn't contribute much to agri sector should be transferred to manufacturing sector. Moreover, transfer of excess labor from agriculture sector will also boost the income of the labor that remain in agriculture sector. Unless our manufacturing sector grows there is very less chance that India will witness a Chinese kind of transformation.
 
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China's growth story and why India can catch up with its gaint neighbor!!
Before the Chinese government introduced several economic growth reforms in 1979, the average annual real GDP growth rate in China was estimated at 5.3% (from 1960-1978)

From 1979 until 2010, China's average annual GDP growth was 9.91%, reaching an historical high of 15.2% in 1984 and a record low of 3.8% in 1990. This was when more man power was involved not only in China but all over the world. India's growth story picked up with BJP lead Vajpayee government from 2000 which had very promising effects for the next decade. It's because ground level economic initiative and industrialization made as priorities. Momentum was carried on till further step was need when Congress was in power. They failed so India say GDP dipped beloved 4%.

China and India are both agricultural economy. Once China stepped aside from being agricultural economy to Industrial power house in 1979 that's when we say huge spikes in the GDP growth. India has realised this and learnt from its mistake. Current BJP government led by Modi want to create more jobs to farmers other than agricultural sectors. Efforts are made and it's not diffrent from what China did. This momentum in GDP will keep growing or at least be stable at 6.9-7.5 for years to come.



That's what I said it's because India has 60% some population contributing to 16% only...

Agriculture: 16.1% Industry: 29.5% Services: 54.4%. Now alternatives are been made by setting up agricultural products based industries in many villages. Connectivity is been improved fdi allowed in very sensitive sector like retails.
Retail belongs to sensitive industries??
I think there are some problems of industrial structure in India.
Services based on a high level of the second industry.
And the low level of the second industry, Cause the low level of the tertiary industry.
Do you think India is a high level of service industry?
 
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India forex reserve is record high to $367 B.

To be honest, such number for a country with billion population like India is nothing to be proud of
My home town HK with a population of 7 million match your number well
gSF6LOF.png


http://www.tradingeconomics.com/hong-kong/foreign-exchange-reserves
 
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With GST, good monsoon, FDI, ease of governance and the curb on excessive bureaucracy the GDP growth should reach 8-9% in the coming years.

For a double digit growth rate we need to improve our manufacturing base and for that Make In India and Skill India should succeed.
 
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I think GST will rectify a lots of issues in our economy.Once we implemented GST then the goods will flow easily without any unwanted tax or drain .And farmers can send their goods
to consumer based states without much expense.
 
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