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No matter how hard the government tries, it can’t sell India’s growth story to the world

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No matter how hard the government tries, it can’t sell India’s growth story to the world


modi-sad.jpg

Time to act. (AP Photo/Oded Balilty)

The government of India, led by prime minister Narendra Modi, is struggling hard to chalk out a positive narrative for the Indian economy.

Even though the world’s fourth-fastest-growing economy hasn’t had a good year so far, the Bharatiya Janata Party (BJP)-led regime insists things are fine.

BJP president Amit Shah recently dismissed concerns over a slowdownsaying this was due to “technical reasons.” The Niti Aayog, a government think-tank, believes the downturn has already ended and that growth is expected in the next two quarters. Countering criticism from both within and outside the government, finance minister Arun Jaitley, on Sept. 28, said:

Growth rates are related to several factors, one of the factors is how you fit into the world. Is the world supportive or is the global economy stopping you from growing? There was a period from 2003 to 2008, when we grew with the global trend, and then the world slowed down. We became the fastest growing major economy for the first three years (of the Modi government).

But no amount of wordplay or manipulation seems to stem the tide of negative news: Slipping GDP growth, declining private spending and investments, falling jobs, decreasing industrial production, rising inflation, and rising current account deficit.

And brokerage houses and multilateral institutions are not buying the government’s story—not for this year.

Earlier this month, the United Nations lowered India’s growth estimates to 6.7% for FY17 as compared to the 7.1% in FY16. “The informal sector, which still accounts for at least one-third of the country’s GDP and more than four-fifths of employment, was badly affected by the government’s ‘demonetisation’ move in November 2016, and it may be further affected by the rollout of the goods and services tax (GST) from July 2017,” added the UN’s trade and development report.

The GST, introduced in July to streamline India’s otherwise multi-layered tax system, has taken a toll on India’s growth.

Earlier, the demonetisation of two high-value currency notes led to an acute months-long cash-crunch that took its toll on business and jobs, dragging the whole economy down.

Together, demonetisation and the GST have dragged down growth in the first quarter of this financial year to 5.7%—the slowest in the past three years.

Meanwhile, Macquarie Research also expects GDP growth to slump to 6.7% in this financial year (pdf). The global research firm believes that even in FY19, the economy will be able to stage only a mild recovery. India Ratings and Research, an arm of the global rating agency Fitch, too, has slashed the estimates to 6.7% from the earlier estimated 7.4%.

Earlier, the Asian Development Bank revised its India growth forecast for this year to 7% from its previous estimate of 7.4%. The Organisation for Economic Co-operation and Development, on its part, lowered the figure to 6.7% from its earlier projection of 7.3%.

Now all eyes are set on the Reserve Bank of India’s bi-monthly policy meet on Oct. 04. However, the central bank is also expected to change the country’s growth forecast for this year.

https://qz.com/1090478/no-matter-ho...t-cant-sell-indias-growth-story-to-the-world/
 
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A country that has received record FDI in last 3 years in not able to sell it's growth story.
Country that grew fastest in the world last year is not able to sell it's growth story.
A country that is witnessing 20 year low inflation to go along with high growth is not able to sell it's growth story.

Must be true is some one wrote a long article on it ;)
 
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Modi government believe more on propaganda than actions, the way things are in India I think his policy is working fine and he will be re-elected due to these few popular beliefs in India.
1. India is the fastest growing economy and will be a developed country by 2030 (new deadline)
2. Pakistan is about to go bankrupt and broken into pieces
3. India does surgical strikes.

Reality is what people believe and Indian media on behest of BJP keeps feeding reality to their gullible people.
 
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A country that has received record FDI in last 3 years in not able to sell it's growth story.
Country that grew fastest in the world last year is not able to sell it's growth story.
A country that is witnessing 20 year low inflation to go along with high growth is not able to sell it's growth story.

Must be true is some one wrote a long article on it ;)
https://theprint.in/2017/09/29/slowing-indian-economy-revival/
http://www.livemint.com/Politics/WU...ing-as-Achilles-heel-of-Narendra-Modi-go.html
http://www.latimes.com/nation/sns-bc-as--india-troubled-economy-20170929-story.html
...

There are a lot of articles on it and mostly by Hindus like you. If you don't want to insult your communalist overlord don't google "india+economy".
 
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Modi government believe more on propaganda than actions, the way things are in India I think his policy is working fine and he will be re-elected due to these few popular beliefs in India.
1. India is the fastest growing economy and will be a developed country by 2030 (new deadline)
2. Pakistan is about to go bankrupt and broken into pieces
3. India does surgical strikes.

Reality is what people believe and Indian media on behest of BJP keeps feeding reality to their gullible people.

Says the nation which was caught pants down circulating fake photos.
Your country has less credibility than North Korea - Enough said.
 
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Modi government believe more on propaganda than actions, the way things are in India I think his policy is working fine and he will be re-elected due to these few popular beliefs in India.
1. India is the fastest growing economy and will be a developed country by 2030 (new deadline)
2. Pakistan is about to go bankrupt and broken into pieces
3. India does surgical strikes.

Reality is what people believe and Indian media on behest of BJP keeps feeding reality to their gullible people.
There isn't much difference b/w North Korea's Kim Jong Un and Modi on how their respective supporters perceive them.
 
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There are a lot of articles on it and mostly by Hindus like you. If you don't want to insult your communalist overlord don't google "india+economy".

I doubt you have read through the articles you have quoted.
Why don't you read and post the parts that you think refer to the gloom and doom.

Posting links to articles is not debate. Voicing your own interpretation and exchanging views is.
Let me know when you want to start debating.

There isn't much difference b/w North Korea's Kim Jong Un and Modi on how their respective supporters perceive them.

The world disagrees & that includes China.
The recent BRICS summit where Modi was invited as equal and your country was castigated for terrorism sort of screws your whole logic.
It's too late for Pakistan. Sadly, I doubt you lot are even capable of realizing it's too late. ;)
 
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Says the nation which was caught pants down circulating fake photos.
Your country has less credibility than North Korea - Enough said.

well those "phake" photos exposed your country didn't it. why was your UNSC reps were gung ho and shaking with anger.
 
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well those "phake" photos exposed your country didn't it. why was your UNSC reps were gung ho and shaking with anger.

Typical response of people caught pants down, lying to the world.
 
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There's a saying that one cannot fool all the people all the time.
Yes, even Modi's own party members are saying that Indian economy is heading for the shi**ers, the finance minister urging people not to panic and yet these Hindus communalists will keep repeating Incredible India narrative.
 
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Yes, even Modi's own party members are saying that Indian economy is heading for the shi**ers, the finance minister urging people not to panic and yet these Hindus communalists will keep repeating Incredible India narrative. I think even their own mothers getting the treatment in Dehli won't open their eyes.
Well, let it move in that direction. We got plenty of work at home to do...a lot of dishes need to be cleaned, a lot laundry needs to be done.
 
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India on track to getting record FDI and breaking the 50 billion USD mark this year. Thought I'd throw that out there because BoP wise thats probably the biggest most direct thing attributable to the Modi govt.

There always going to be a media window to vaguely discredit transient markers as structural/permanent....its their job to do so (latch on to whatever dramabaaz cyclic news cycle till it evaporates and some other one starts).

We can easily see who has last laugh in the next few quarters and the year after that. Dunno why people are so impatient one way or the other.

Most Pakistani members posting here for example I would assume do not even know what GCF is and what it has accumulated/integrated to in India's case for the last decade....and the effect of that on long term resilience, floorboard rate of growth and the dual effect of high interest rate + NPA resolution speed....on top of the fog generated by demonetisation and GST (who's positive impacts come much more long term) all combinining and having an effect right now in the short term economic landscape.

What is the long term outlook anyway for nominal size of Indian economy?:

http://timesofindia.indiatimes.com/...years-morgan-stanley/articleshow/60859147.cms
 
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Yes, even Modi's own party members are saying that Indian economy is heading for the shi**ers, the finance minister urging people not to panic and yet these Hindus communalists will keep repeating Incredible India narrative.
Now just wait for swarms of the chest thumpers to arrive and face the music... :lol:
Typical response of people caught pants down, lying to the world.
So will your govt learn anything from this. It is better they stop lying and fooling the people.
 
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