Rupee posts its biggest daily gain in three years; sensex jumps 439 points

[Icewolf]

We have been growing since last 20 years. We must be doing something right. In fact 6.5% growth rate was the lowest in last 10 year. Most countries would jump to clock 6.5%, but for India we are not content.

I admire Indian govt for taking advantage of huge Indian middle class and making it easier for companies to invest in India... But you guys need stable economic base, fast, or due to high inflation the middle class can suddenly just stop.

 

[Jade]

Indian economy is a guess game for investors... Sometimes it shooting up, sometimes it's nose diving. Once you guys have a stable economic base, then you guys cannot be called a primitive economy that only runs on its middle class.

Investing is not gambling. In these time of economic hardship around the world, investor would shun any risk.

Having middle class itself means that economy cannot be not primitive, we have almost 50% of the GDP come through out service sector. Primitive economies are those where large contribution to the GDP comes from Agricultural sector and characterized by small middle class.

I admire Indian govt for taking advantage of huge Indian middle class and making it easier for companies to invest in India... But you guys need stable economic base, fast, or due to high inflation the middle class can suddenly just stop.

With out having a stable base, India would not have grown for last 20 years. We have 33% of GDP as saving. We have health forex reserves. Our biggest weakness is the our Government which plays to populist measures ignoring the long term benefits of reforms

 

[IND151]

^^ completely right

India is 5th biggest producer of steel and 6th biggest automobile producer in world

a nation with primitive economy cant achieve such status

 

[rcrmj]

Investing is not gambling. In these time of economic hardship around the world, investor would shun any risk.

Having middle class itself means that economy cannot be not primitive, we have almost 50% of the GDP come through out service sector. Primitive economies are those where large contribution to the GDP comes from Agricultural sector and characterized by small middle class.



With out having a stable base, India would not have grown for last 20 years. We have 33% of GDP as saving. We have health forex reserves. Our biggest weakness is the our Government which plays to populist measures ignoring the long term benefits of reforms

do you really study economics in London?? it seems you are very lousy and naive about it````because it is not for you to draw a definition whether India is primitive or what```and you seem to stay in London for too long, and your delusion grows to the extend that makes you to have a fictional picture of India's economy.

have a close read of WIPO's 2011-2012 annual report of nations economy development stage, it clearly states India's economy is at primitive factor driven stage``and to be frankly the best score is coming from your massive population and its 'potential'``
http://www3.weforum.org/docs/WEF_GCR_Report_2011-12.pdf

page 11, and page 204 (the india report)

get ready for the reality``

lastly where does the healty forex reserve have anything to do with India?

 

[Jade]

do you really study economics in London?? it seems you are very lousy and naive about it````because it is not for you to draw a definition whether India is primitive or what```and you seem to stay in London for too long, and your delusion grows to the extend that makes you to have a fictional picture of India's economy.

have a close read of WIPO's 2011-2012 annual report of nations economy development stage, it clearly states India's economy is at primitive factor driven stage``and to be frankly the best score is coming from your massive population and its 'potential'``
http://www3.weforum.org/docs/WEF_GCR_Report_2011-12.pdf

page 11, and page 204 (the india report)

get ready for the reality``

lastly where does the healty forex reserve have anything to do with India?

Did a simple Google search and found this about primitive economies

the principles of primitive economy are as follows:

1. Economic relationships are based on barter and exchange. There is no provision of currency. There are no banks and other credit societies.

2. Economic system isbased upon social customs, physical conditions and faith in ancestors. Almost no primitive crosses their limits. Profit is seldom the motive of economic activities. Mutual obligations and unity perform the function of motivation. Give and take among primitives is the basis of economic system.

3. Mutual cooperation and collective enterprises are characteristics of primitive economy. According to Thurnwald, the Indian tribes depict a strong communal organization.

4. There are no regular markets. Weekly moving markets are the bases of exchange. There is no monopoly and cut throat competition characteristic of civilized society.

5. There is no institution of private property. All the land is collectively owned. Land is equally divided among families and each family cultivates land alloted to it. There is more consumption than production. Consumption includes food, clothes and housing.

6. Economic values change in decades. Mostly, stability, equality and simplicity are the hall marks of primitive economy. This is particularly true about procedures and techniques. There is no specialization.

Now judge for yourself whether India is a primitive economy or not. A test for high IQ Chinese

 

[rcrmj]

Did a simple Google search and found this about primitive economies



Now judge for yourself whether India is a primitive economy or not. A test for high IQ Chinese

Again your imbedded IQ level forced you to not to read proper modern definition of a primitive economy by WIPO, those 6 points you listed were merely an convenient search on google, which has nothing to do with the modern definition of 'factor driven primitive economy'

A critical thinking is very helpful for a new naive graduate like you, because the real world is nothing like your delusion,, you can start by reading the sources I posted for you...