Modi Brings Back Indian Economy to "Hindu Rate of Growth" of 3%

[Max]

It is a well known fact that kafirs have low IQ.

I am disappointed that you are now saying Modi himself did not change the "formula". I am sure you are wrong.

I think Modi changed one "-" sign to "+" in the formula. That is why its showing more.

When Rahul gandhi becomes PM he will correct the "formula".

Again more desperate blabbering by low IQ subhumans.

No Kafirs are very smart especially in west, i have low opinion about lowly stinky bhangi indians only.

 

[danger007]

http://www.riazhaq.com/2019/09/modi-brings-back-indian-economy-to.html

In a tweet earlier today, Indian journalist Shekhar Gupta said, "Under the old method, it would be just a little over 3%. So the Hindu Rate of Growth returns before the Hindu Rashtra arrives...". One hundred percent "Hindu Rashtra" is the goal of the ruling BJP. Another Delhi-based journalist Abheek Barman has blamed India's slowing economy on Prime Minister Narendra Modi's single-minded pursuit of his fascist Hindutva agenda against Muslims in India and Indian Occupied Kashmir. "Every village idiot knows the way out of income slowdown is meaningful economic policy, not blocking communication lines in the erstwhile state of Jammu and Kashmir or listing 2 million (Muslim) Assamese as ‘illegals’", he wrote in an op ed in The Quint. The slowdown in Indian economy is also reflected in India experiencing the worst unemployment situation in 45 years. All sectors of the economy from construction to manufacturing are seeing high job losses.






Shekhar Gupta

✔@ShekharGupta

Under the old method, it would be just a little over 3%. So the Hindu Rate of Growth returns before the Hindu Rashtra arrives... https://twitter.com/tca_tca/status/1168053109542674437 …

T C A S Raghavan@tca_tca

Why is no one questioning the government on GDP numbers now? Method of measurement hasn’t changed.


1,177
9:08 AM - Sep 1, 2019
Twitter Ads info and privacy

587 people are talking about this



Major Economic Slow-down in India:



Gupta is referring to India's GDP growth rate which has reportedly dropped to 5% for the last quarter under Modi's method of measurement. Many experts, including Modi's former top economic adviser Arvind Subramaniam, believe it overstates India's GDP growth rate by about 2.5%.



Hindu rate of growth refers to the low annual growth rate of India's GDP before economic liberalizations of 1991. It stagnated around 3.5% from 1950s to 1980s, while per capita income growth averaged just 1.3%.



Before Mr. Modi became prime minister of India in 2013, Indian economy saw robust growth reaching a peak of 8.5%. There were few questions about the veracity of GDP figures published by the Manmohan Singh government. However, there have been persistent doubts about Mr. Modi's GDP figures since his government revised GDP measure-met methodology.



Indian GDP Figures Disputed:



Indian Prime Minister Narendra Modi's government has claimed GDP growth rate averaging 7% since 2014 when BJP won the parliamentary elections. This claim has been challenged by many Indian and foreign economists in the last several years.



India’s gross domestic product product (GDP) growth rate between under Mr. Modi's government should be about 4.5% instead of the official estimate of close to 7%, according to Mr. Modi's former chief economic advisor Arvind Subramanian who published a research paper at Harvard University. “India changed its data sources and methodology for estimating real gross domestic product (GDP) for the period since 2011-12. This paper shows that this change has led to a significant overestimation of growth,” he said in the paper.



While India's boosters in the West are not only buying but applauding the new figures, Indian policy professionals at the nation's Central Bank and the Finance ministry are having a very hard time believing the new and improved GDP brought to the world by Indian government. Dissenters include Morgan Stanley's Ruchir Sharma, an Indian-American, who has called the new numbers a "bad joke" aimed at a "wholesale rewriting of history".



Based on the latest methodology, it is claimed that the Indian economy expanded 7.5 percent year-on-year during the last quarter, higher than 7.3 percent growth recorded by China in the latest quarter, making it the fastest growing major economy in the world, according to Reuters. Is it wishful thinking to make Indian economy look better than China's?





India GDP Revisions. Source: Financial Times





The GDP revisions have surprised most of the nation's economists and raised serious questions about the credibility of government figures released after rebasing the GDP calculations to year 2011-12 from 2004-5. So what is wrong with these figures? Let's try and answer the following questions:



1. How is it possible that the accelerated GDP growth in 2013-14 occurred while the Indian central bankers were significantly jacking up interest rates by several percentage points and cutting money supply in the Indian economy?



2. Why are the revisions at odds with other important indicators such as lower industrial production and trade and tax collection figures? For the previous fiscal year, the government’s index of industrial production showed manufacturing activity slowing by 0.8%. Exports in December shrank 3.8% in dollar terms from a year earlier.



3. How can growth accelerate amid financial constraints depressing investment in India? Indian companies are burdened with debt and banks are reluctant to lend.



4. Why has the total GDP for 2013-14 shrunk by about Rs. 100 billion in spite of upward revision in economic growth rate? Why is India's GDP at $1.8 trillion, well short of the oft-repeated $2 trillion mark?



Questions about the veracity of India's economic data are not new. US GAO study has found that India's official figures on IT exports to the United States have been exaggerated by as much as 20 times.



Similarly, French economist Thomas Piketty has argued in his best seller "Capital in the Twenty-First Century that the GDP growth rates of India and China are exaggerated. Picketty writes as follows:



"Note, too, that the very high official growth figures for developing countries (especially India and China) over the past few decades are based almost exclusively on production statistics. If one tries to measure income growth by using household survey data, it is often quite difficult to identify the reported rates of macroeconomic growth: Indian and Chinese incomes are certainly increasing rapidly, but not as rapidly as one would infer from official growth statistics. This paradox-sometimes referred to as the "black hole" of growth-is obviously problematic. It may be due to the overestimation of the growth of output (there are many bureaucratic incentives for doing so), or perhaps the underestimation of income growth (household have their own flaws)), or most likely both. In particular, the missing income may be explained by the possibility that a disproportionate share of the growth in output has gone to the most highly remunerated individuals, whose incomes are not always captured in the tax data." "In the case of India, it is possible to estimate (using tax return data) that the increase in the upper centile's share of national income explains between one-quarter and one-third of the "black hole" of growth between 1990 and 2000. "



T.C.A. Anant, the chief statistician of India, has told the Wall Street Journal that “there’s a large number of areas where we have deviated (from the United Nations’ latest guidebook on measuring GDP) for a large measure, because we are simply, at the moment, unable to implement those recommendations.”



Summary:



There is growing consensus among top economists that India's GDP figures reported by Mr. Modi's government are highly exaggerated. India's former chief economist Arvind Subramanian has said the figures are overstated by 2.5%. He puts the real growth rate in the last 5 years at 4.5%. The latest claim of 5% growth means that the actual growth rate has dropped to be below 3%, often referred to as "Hindu growth rate" of the years before 1991 economic reforms. It is being blamed on Mr. Modi's single-minded focus on his fascist Hidutva agenda to remake India into a Hindu Rashtra. The slowdown in Indian economy is also reflected in India experiencing the worst unemployment situation in 45 years. All sectors of the economy from construction to manufacturing are seeing high job losses.



Related Links:



Haq's Musings



South Asia Investor Review



Indian Occupied Kashmir Under Total Lockdown



Is India Fudging GDP to Look Better Than China?



India's IT Exports Highly Exaggerated



India-Pakistan Economic Comparison 2014



Pakistan's Official GDP Figures Ignore Fast Growing Sectors



Challenging Haqqani's Op Ed: "Pakistan's Elusive Quest For Parity"



State Bank Says Pakistan's Official GDP Under-estimated



Pakistan's Growing Middle Class


Pakistan's GDP Grossly Under-estimated; Shares Highly Undervalued


Fast Moving Consumer Goods Sector in Pakistan



3G-4G Roll-out in Pakistan



Pakistan Government Deploys Mobile Apps



http://www.riazhaq.com/2019/09/modi-brings-back-indian-economy-to.html

South Asia Investor Review

it is your own blog....
India-Pakistan Economic Comparison 2014

your own source...

Pakistan's Official GDP Figures Ignore Fast Growing Sectors

State Bank Says Pakistan's Official GDP Under-estimated

both are same...

no country will ignore such things unless they add not much to the growth

http://www.riazhaq.com/2012/11/pakistans-gdp-grossly-underestimated.html

??? source??


irrelevant ???


what it supposed to do with the thread...


India's IT Exports Highly Exaggerated



Chart 1: U.S. and Indian Data on Trade in BPT Services, 2002

Source: GAO; calculations by BEA
1 Government Accountability Office, “U.S. and India Data on Offshoring Show Significant Differences,” October 2005.
2 Reserve Bank of India, “Computer Services Exports from India: 2002-03,” Reserve Bank of India Bulletin, September 2005.
3 Organization for Economic Co-operation and Development, Information Technology Outlook 2004, October 2004.


how convenient for you?? did you open that link?


you always try to show Pakistan booming and India on bad light...

 

[Nityam]

Again more desperate blabbering by low IQ subhumans.

No Kafirs are very smart especially in west, i have low opinion about lowly stinky bhangi indians only.

Please show mercy to low IQ subhuman stinky bhangi Kafir Indians like me.

 

[Max]

Please show mercy to low IQ subhuman stinky bhangi Kafir Indians like me.

more desperate blabbering from ugly indian bhangi

 

[Nityam]

more desperate blabbering from ugly indian bhangi

I am devastated by your lack of compassion.

 

[Max]

I am devastated by your lack of compassion.

Now you are embarrassing yourself lowly bhangi, stop trying these low IQ comebacks

 

[Longhorn]

i undersatnd low IQ is common problem in sanghi bharatis , What i meant from Modi is Modi's regime and Manmohan mean his regime and parties. 2nd again your desperate blabbering shows you have no fact to negate my points. you just want attention.

Don't feed the troll.

 

[KeyBORED Warrior]

Now just imagine what a limited war would do to their economy. Ours is already in doldrums so can't go from worst to worst. For them it'd be suicidal, unless offcourse they start buying arms and shit on credit and boost their economy artificially.

 

[Wow]

Hindu growth rate is very small not surprising considering there condom size

 

[Foxtrot Delta]

I dont know what the big fuss is about india is 3 to 4 trillion $ economy slow down to even 2% would mean huge growth... Ots a big economy and it will rise up in a few years again.

Pakistan needs 15% growrth rate for next 15 years to catch up or balance out indian economy.

With courpt pakistani practices and anti economic thinking i dont see growth above 4% for pakistan. If we were serious it could easily be above 9% each year

 

[Riz]

Hindutva went up... Economy goes down... Good going modi g..