Junk Rating Looms for India

[Chanakya's_Chant]

NONE of these address core issues that plagues the Indian economy. Face it, without drastic reforms your economy is going down the gutter.

Oh please the so called "plaguing" core issues are in the process of being addressed well; The current account deficit, balance of trade and the Exports are the hot topics for the Indian Economy onto which we are stressing much upon; In what will give comfort to foreign investors as well as global rating agencies is the fact that there is increasingly a sense amongst analysts that the CAD problem is under control. $70 billion that the government proposed as CAD after calculating it with us seems now imminently reachable and it will be at all cost. Exports rose 11.6% in July and 13% in August, helping to narrow the trade deficit to a less worrying $12 billion a month from $20 billion earlier. The trade deficit has declined in the past couple of months and will be the same in the future too atleast as far as this financial year is concerned; Trade deficit for the month of September reduced to $6.76 billion; a two years low While exports were up 6% to $27.68 billion versus $26.1 billion in August, imports were down 7.1% to $34.44 billion versus $37.05 billion. The current account deficit grew less than expected in the June quarter and is tipped to ease in coming months as a pick-up in exports and lower gold imports improve the trade balance, offering relief to the rupee and will continue to do so in the time to come.

#Opportunity does not lie in positioning for the obvious but lies in positioning for the not so obvious and that is what will help the Indian Economy right now; with the revival of the global economy the Indian economy will also recover and the run up to 2014 general elections is going to be an important factor for after the same we got to see some of the giant reforms coming in like in 1991; change in inevitable!!!! "draining down the gutter" will only make the cheerleaders fell good under this "junk status" hype which is not going to happen....

 

[Vinod2070]

Indeed it is.

I hope Chinese people are aware of the differences between projections, attempt and finally the results.

Or is this a simple attempt to troll? In which case, there are many things that I would like to say about the high IQ nation.

It is a matter of time before we cross Chinese growth rates.

One just has to be patient and work on resolving some of the big ticket issues.

 

[Chinese-Dragon]

Indeed it is.

I hope Chinese people are aware of the differences between projections, attempt and finally the results.

Or is this a simple attempt to troll? In which case, there are many things that I would like to say about the high IQ nation.

Go ahead. I have heard every insult possible against my country and my people from your fellow countrymen here.

From laughing at war crimes and mass rapes like the Rape of Nanjing to the lowest kind of racial abuse imaginable, you guys have already done it and gone far beyond. There is nothing you can say which will surprise me.

And my point was a serious one. How can the Indian finance minister be so incredibly wrong in his projections?

You know budgets and spending are based on projections right? This is not just a whimsical guess by a civilian, this is the Indian finance minister and he is getting things seriously wrong.

Not to mention that he brought China into the picture for no reason at all, in his 2010 public statements claiming that India was on the verge of surpassing China's growth rate. With official Indian government projections at around 9.5% average growth every year for the next decade.

 

[Vinod2070]

^^ I agree. We should stop any comparisons with China or any country.

It is not a race with anyone else but with ourselves.

And let's not act holier than thou on the racist thingy.

 

[Contrarian]

Go ahead. I have heard every insult possible against my country and my people from your fellow countrymen here.

From laughing at war crimes and mass rapes like the Rape of Nanjing to the lowest kind of racial abuse imaginable, you guys have already done it and gone far beyond. There is nothing you can say which will surprise me.

I dont care what the other Indians have said or not.

A human inherently has the capability to think independently. Because other Indians do something you dont find acceptable, does not by any stretch of imagination give you a license to do the same thing( that you did not like in the first place).

And my point was a serious one. How can the Indian finance minister be so incredibly wrong in his projections?

You know budgets and spending are based on projections right? This is not just a whimsical guess by a civilian, this is the Indian finance minister and he is getting things seriously wrong.

Not to mention that he brought China into the picture for no reason at all, in his 2010 public statements claiming that India was on the verge of surpassing China's growth rate. With official Indian government projections at around 9.5% average growth every year for the next decade.

Because the Indian FM cannot stop the Prime Minister and Chief of Congress(ruling party) from doling out subsidy and welfare packages.
He has been against welfare packages for a good long while now, and he gets overruled.

The budget is made from projections of a regular finances and industry, not hastily made welfare schemes launched in the middle of year.

 

[Chinese-Dragon]

I dont care what the other Indians have said or not.

A human inherently has the capability to think independently. Because other Indians do something you dont find acceptable, does not by any stretch of imagination give you a license to do the same thing( that you did not like in the first place).


Because the Indian FM cannot stop the Prime Minister and Chief of Congress(ruling party) from doling out subsidy and welfare packages.
He has been against welfare packages for a good long while now, and he gets overruled.

The budget is made from projections of a regular finances and industry, not hastily made welfare schemes launched in the middle of year.

To sum up, you will know when I am trolling (counter-flaming to be specific), and I won't deny it.

I am not trolling here, you can believe it or not, doesn't matter.

I am genuinely curious as to how the Indian state let things slip so far. At India's current state of development and demographics, sustained double digit growth should be easily attainable.

The "super-socialism" of the Congress party is destroying India's economic fundamentals. They are launching the largest socialist schemes in the history of the world (FSB and NEGERA), while their deficits and debts continue to soar. It is nonsensical behaviour from a leadership who are more than qualified to know better.

I truly feel that Modi is the only possible way for India to attain sustained double-digit growth at this point.

 

[Contrarian]

To sum up, you will know when I am trolling (counter-flaming to be specific), and I won't deny it.

I am not trolling here, you can believe it or not, doesn't matter.

As I said. Independence of thought.

I am genuinely curious as to how the Indian state let things slip so far. At India's current state of development and demographics, sustained double digit growth should be easily attainable.

The "super-socialism" of the Congress party is destroying India's economic fundamentals. They are launching the largest socialist schemes in the history of the world (FSB and NEGERA), while their deficits and debts continue to soar. It is nonsensical behaviour from a leadership who are more than qualified to know better.

I truly feel that Modi is the only possible way for India to attain sustained double-digit growth at this point.

There is no point in saying it over and over again. You know it, I know it. Most of the educated people in the cities know it.

The biggest issue is that most of India still lives in villages, and villagers dont know it. Villagers still love the name Gandhi and vote for it.

And since most of them have never seen private jobs in the first place, they dont understand what destruction of economy means for India. They vote for Gandhi, because they know that Gandhi's would give them free food and free electricity.

I would say that by 2025-30 , the number of those educated and urbanized would be enough to become deciding factors in Elections, but as of 2013, the villages still decide the fate of the country.

Lets see how the Election goes, Narendra Modi is certainly heads and shoulders above the Gandhi family.

 

[Chinese-Dragon]

The biggest issue is that most of India still lives in villages, and villagers dont know it. Villagers still love the name Gandhi and vote for it.

And since most of them have never seen private jobs in the first place, they dont understand what destruction of economy means for India. They vote for Gandhi, because they know that Gandhi's would give them free food and free electricity.

I would say that by 2025-30 , the number of those educated and urbanized would be enough to become deciding factors in Elections, but as of 2013, the villages still decide the fate of the country.

Lets see how the Election goes, Narendra Modi is certainly heads and shoulders above the Gandhi family.

Good luck. Seriously.

Modi is such a great leader that he will lose, and Sonia will win, because the world is an unfair place where great leaders only get their chance by sheer luck.

Deng Xiaoping would have lost elections, and charismatic Maoist firebrands like Bo Xilai would have won elections. Luckily for us, Deng Xiaoping became our leader back then, and Bo Xilai is sitting in jail for the rest of his life.

Not because elections are bad (I vote in HK elections) but because people in large groups are so susceptible to populist bullsh*t. In all political systems. And authoritarian systems in particular are the most vulnerable.

 

[Contrarian]

Good luck. Seriously.

Modi is such a great leader that he will lose, and Sonia will win, because the world is an unfair place where great leaders only get their chance by sheer luck.

Deng Xiaoping would have lost elections, and charismatic Maoist firebrands like Bo Xilai would have won elections. Luckily for us, Deng Xiaoping became our leader back then, and Bo Xilai is sitting in jail for the rest of his life.

Not because elections are bad (I vote in HK elections) but because people in large groups are so susceptible to populist bullsh*t. In all political systems. And authoritarian systems in particular are the most vulnerable.

I believe that an educated population has the best chance of throwing up(electing) good leaders. Till that time, the leaders are just a reflection of the society they serve.

Since most of India is poor, and illiterate - the leaders are those who pander to this group.

That said, Modi is not just playing his economic credentials alone. Had he done that, he would have been written off long ago.
He uses his economic agenda and credentials to bolster his standing in the cities.

But he also uses his main plank of Hindutva(religion, nation) to play to the villages at large. And he has been getting positive response from this strategy.

The result of the elections is far from being decided.
Modi has a running shot at winning it. It should be a close contest either ways.

 

[Chinese-Dragon]

现代 中国 上海 Shanghai, China now

I have traveled all across the world, I've been to every continent and been to most major cities in the world.

And Shanghai is the most impressive city I have ever seen.

 

[Viet]

3.75% growth! That is dire.

I thought India's finance minister Chidambaram said that India would surpass China's GDP growth rate by 2010?

Well, India´s Federal Reserve Chairman Raghuram Rajan said in a interview recently, in 2-3 years India would overtake China in growth rate. Don´t laugh I think India will return to the strength what it used to be if it can manage some domestic issues.

Indien will China überholen: Indien will zum früheren Wachstum zurück - n-tv.de

 

[shuttler]

Ah the Indian Chinese tussle.

when there is no tussle at all for the losers!

 

[shuttler]

Writings are on the walls:

Moody's downgrades debt ratings of 11 Indian banks
Press Trust of India | Updated On: September 05, 2013

RPT-Fitch Takes Rating Action on Indian Banks
Mon Sep 23, 2013

Bank shares under pressure on Moody's and Fitch downgrade
Sept 24, 2013

 

[Jungibaaz]

All right, you've all had your fun mud slinging.

Consider this a first and last warning, even the slightest bit of off topic trolling, any more of it from here on will be met infractions, provoked or unprovoked.

Stay on topic!

 

[Hafizzz]

We don't have Cancer villages in India.

In China, 'Cancer Villages' a reality of life - CNN.com

India, China set to be cancer capitals
India, China set to be cancer capitals - Silobreaker