India hasn’t signed the RCEP, leading to concerns that it will get isolated. But it’s a China-centric deal that would have few advantages for India’s exports.
PLI scheme focuses on incentivising firms to grow fast, boosting India’s manufacturing & export prospects. But in the long run, sectors need to die and be born.
Scope for manual earth work like digging of canals is limited in cities. An urban MGNREGA might not provide employment and create assets as it’s expected to.
Waiver of interest-on-interest for all during the moratorium can minimise moral hazard. Keeping it selective would've run the risk of hurting credit culture.
While capital controls may be useful in maintaining financial stability, Indian experience suggests IMF should focus on yardsticks of transparency, rule of law.
RBI must work towards better transmission mechanism, for which India needs deep & liquid bond market, competitive banking sector & regulatory framework.
Let zombie firms linger on & banks stay crippled a little longer if it leads to deeper reform, so India can get away from broken financial system of the 1980s.
MoSPI proposes to remove closed factories from IIP sample, aiming for truer picture of India’s industrial health in upcoming 2022–23 base series. Plan open to public feedback until 25 November.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
A practical approach. In effect, all said and done, the Q is should anyone jump into the deep end without learning to swim….75 years and still a non-swimmer!!!
We can definitely do it..reform….the opposition needs to play up and save India from being a laggard democracy who can never reform….the people also have to learn to swim…
The ruling party is accountable for implementing reforms not the opposition.
BJP had 6 years and soon 10 years will be completed. Maybe 5 more years after that given their electoral successes. We have to see whether we will still be able to swim 10 years from now!
Sir, in a democracy the opposition is as important as the Government in formulating policies. Even with a majority you see how GST, farmers bill, Labour laws, CAA etc.. are struck. Without being partisan, can we deny that the opposition has by rule opposed everything every time the Government brings in.
No worthwhile discussion takes place in the Parliament. One can forever keep blaming the other for this chaotic democracy. Nothing gets done on time. That is the POINT….people are satisfied with blame games!!! The media feeds on it
I agree in the overarching message that reforms are better needed/suited than joining RCEP. But without joining RCEP, industry and politicians would have no incentive to reform. Will Adani and Ambani fund BJP to reform? Joining RCEP would have forced India to reform. What I see is we moving back to 1980’s monopoly of a few players, non functioning financial system and more and more restrictive policies tending towards atma nirbhar bharat. Which is an oxymoron.
Havent you noticed Views are personal at the end of each article. So the views are personal to the respective authors and may not be same for Print.
They just need clicks on their site, this way or that way.
Wowooww I’m super surprised and super pleased to see such a rational article (esp from the print!) in a sea of retarded ones!! Makes me even consider donating!!
Case in point, RCEP would not have been an entirely bad thing as long as China wasn’t a part of it and if we already had balanced or positive trade with other SEA / ASEAN countries. Since that’s not the case, we wouldn’t have benefited at all and RCEP is not what we need now. Our economy would’ve utterly perished. China is also more likely to only import ore and intellectual property (patents etc) from its ‘partner’ nations at cheap prices, thereby emptying its partners’ natural resources while saving its own. Quite a shrewd strategy, like the US sitting on its massive oil reserves.
In India, there was too much focus in the last few years on the IT industry, leading to most of the economy incl auto, real estate and fmcg to depend heavily on the fortunes of the IT workers. Trump’s restrictions showed the real truth of how our economy was running on fumes for the past two decades, due to not strengthening other sectors (esp. regulation of unorganized manufacturing) and not skilling farmers with modern farming techniques (there used to be an unbelievably high number of low quality farms in TN, but the situation has improved considerably of late).
I don’t recall reading any published content covering this simple truth. Baffling.
Even now, I really hope Biden continues Trump’s ban so that our people are forced to look at other sectors for growth, thereby growing those sectors. Only reason those US companies want foreign ‘talent’ is cos of cheaper costs than locals (resulting in higher profits), rather than their claim of ‘wanting diversity’. This depends on the investments the US Democratic Party has made, of course, so if one figures that out, we’ll know what’s going on behind the scenes.
The Indian media is on blinkers – politics, caste, religion (PCS). For variety an occasional crime involving a celebrity or one of the PCS. Even the pantheon of “experts” patronized by the media have their own pre conceived notions based on some vested interest from the past, mostly biased on political loyalties. Very obvious – you only need to check it.
Occasionally you get some balanced piece on important matters.
Get the drift?
I fully agree with the thought process. India should first be able to cater to its own market first. Most Ships are built abroad. Most aircrafts are imported. Most defence items are imported. Machinery for factories, electronic components, computers, etc all these are imported.
Once we have enough local capability to produce quality goods at reasonable prices, then we can look for external markets. It requires a mindset change for existing private sector and impetus for new investors to join in.
It is a mirage that Reforms from government can stimulate quality exports that the world wants to buy.
The average Indian is more fascinated with religion, politics, TV and films.
Outside of those working in industrial units, the average Indian is not fascinated by machines, planes, ships, electronics, medical devices,chemicals, materials, communication technology etc. We don’t have enough hobbyists or inventors. But look at the amount of time Indians spend on politics and religion on social media.
when I read this article – it can be condensed in to a maximum of two paragraphs. Such lengthy composition with the same two or three points repeated throughout. Perhaps it is deliberate.
Any clue why exports were climbing at 15% plus rate fir 8 long years in upa it was all because of low import duty to create value chain manmohan singh was a cofounder to rcep
Manmohan Singh inherited a fast growing economy. 2003-2008 was the best time to carry out reforms. Had Singh invested more on building physical infrastructure and the skill development for our not so educated masses in that era, India would have been in a better position to compete with the global manufacturers today.
Programs like ‘Make in India’ and ‘Skill India’ were one decade late. Modi brought them with a good intention something that Manmohan could have done earlier.
You are putting on a brave face to cover Modi’s failures. I understand Modi was the Great Hindu Hope.
Hain?
So Manmohan was the great Sikh hope and Sonia the great Catholic hope?
In 2014 intellectuals thought that Modiji would eliminate black money/corruption and would improve India’s economy.
After gaining power, he made a lot of foreign trips and even foreign media thought he would be the Messiah for India’s growth. His Make in India and Smart Cities initiatives seemed to show that under his leadership he was going to change the way things are done in India. So also demonetization for curbing black money.
He must have realised by 2017 that he could not stay in power by these initiatives.
He retreated back to the typical socialist style welfare schemes which gave him a connect to India’s lower class voters. He thus extended his voter base from his core Hindu upper class voter base.
Now post 2019 LS elections we see that he does not need to do much to stay in power. 40% of the people in any parliamentary election will vote for him without question. India is getting fascinated with him just like it was in the 70’s with Indira Gandhi.
When a leader can be in power without much efforts, what is the need for the leader to reform our economy? We are going to stay socialist and isolated for a very long time. Is the Indian voter mature enough to realise this ?
He is constantly passing out reforms such as GST, Farm Laws, Real estate etc etc. Endangering his vote base in so man statese
It is for the private sector and Indian people to figure out how they want to thrive in an increasingly competitive world. Government job is to remove roadblocks , reasonable infrastructure and enable the people to perform. That simple. Like a manager and employees. No leader has a magic wand however popular he or she may be.
A practical approach. In effect, all said and done, the Q is should anyone jump into the deep end without learning to swim….75 years and still a non-swimmer!!!
We can definitely do it..reform….the opposition needs to play up and save India from being a laggard democracy who can never reform….the people also have to learn to swim…
The ruling party is accountable for implementing reforms not the opposition.
BJP had 6 years and soon 10 years will be completed. Maybe 5 more years after that given their electoral successes. We have to see whether we will still be able to swim 10 years from now!
Sir, in a democracy the opposition is as important as the Government in formulating policies. Even with a majority you see how GST, farmers bill, Labour laws, CAA etc.. are struck. Without being partisan, can we deny that the opposition has by rule opposed everything every time the Government brings in.
No worthwhile discussion takes place in the Parliament. One can forever keep blaming the other for this chaotic democracy. Nothing gets done on time. That is the POINT….people are satisfied with blame games!!! The media feeds on it
I agree in the overarching message that reforms are better needed/suited than joining RCEP. But without joining RCEP, industry and politicians would have no incentive to reform. Will Adani and Ambani fund BJP to reform? Joining RCEP would have forced India to reform. What I see is we moving back to 1980’s monopoly of a few players, non functioning financial system and more and more restrictive policies tending towards atma nirbhar bharat. Which is an oxymoron.
Print, please decide this opinion or opinon below..
Not signing RCEP could be one of Modi’s biggest blunders, ‘atmanirbhar’ an admission of defeat
Havent you noticed Views are personal at the end of each article. So the views are personal to the respective authors and may not be same for Print.
They just need clicks on their site, this way or that way.
Wowooww I’m super surprised and super pleased to see such a rational article (esp from the print!) in a sea of retarded ones!! Makes me even consider donating!!
Case in point, RCEP would not have been an entirely bad thing as long as China wasn’t a part of it and if we already had balanced or positive trade with other SEA / ASEAN countries. Since that’s not the case, we wouldn’t have benefited at all and RCEP is not what we need now. Our economy would’ve utterly perished. China is also more likely to only import ore and intellectual property (patents etc) from its ‘partner’ nations at cheap prices, thereby emptying its partners’ natural resources while saving its own. Quite a shrewd strategy, like the US sitting on its massive oil reserves.
In India, there was too much focus in the last few years on the IT industry, leading to most of the economy incl auto, real estate and fmcg to depend heavily on the fortunes of the IT workers. Trump’s restrictions showed the real truth of how our economy was running on fumes for the past two decades, due to not strengthening other sectors (esp. regulation of unorganized manufacturing) and not skilling farmers with modern farming techniques (there used to be an unbelievably high number of low quality farms in TN, but the situation has improved considerably of late).
I don’t recall reading any published content covering this simple truth. Baffling.
Even now, I really hope Biden continues Trump’s ban so that our people are forced to look at other sectors for growth, thereby growing those sectors. Only reason those US companies want foreign ‘talent’ is cos of cheaper costs than locals (resulting in higher profits), rather than their claim of ‘wanting diversity’. This depends on the investments the US Democratic Party has made, of course, so if one figures that out, we’ll know what’s going on behind the scenes.
The Indian media is on blinkers – politics, caste, religion (PCS). For variety an occasional crime involving a celebrity or one of the PCS. Even the pantheon of “experts” patronized by the media have their own pre conceived notions based on some vested interest from the past, mostly biased on political loyalties. Very obvious – you only need to check it.
Occasionally you get some balanced piece on important matters.
Get the drift?
I fully agree with the thought process. India should first be able to cater to its own market first. Most Ships are built abroad. Most aircrafts are imported. Most defence items are imported. Machinery for factories, electronic components, computers, etc all these are imported.
Once we have enough local capability to produce quality goods at reasonable prices, then we can look for external markets. It requires a mindset change for existing private sector and impetus for new investors to join in.
It is a mirage that Reforms from government can stimulate quality exports that the world wants to buy.
The average Indian is more fascinated with religion, politics, TV and films.
Outside of those working in industrial units, the average Indian is not fascinated by machines, planes, ships, electronics, medical devices,chemicals, materials, communication technology etc. We don’t have enough hobbyists or inventors. But look at the amount of time Indians spend on politics and religion on social media.
when I read this article – it can be condensed in to a maximum of two paragraphs. Such lengthy composition with the same two or three points repeated throughout. Perhaps it is deliberate.
article makes so much sense, the only way out in the medium and long term is to ramp up our manufacturing both quantitatively and qualitatively
Any clue why exports were climbing at 15% plus rate fir 8 long years in upa it was all because of low import duty to create value chain manmohan singh was a cofounder to rcep
Manmohan Singh inherited a fast growing economy. 2003-2008 was the best time to carry out reforms. Had Singh invested more on building physical infrastructure and the skill development for our not so educated masses in that era, India would have been in a better position to compete with the global manufacturers today.
Programs like ‘Make in India’ and ‘Skill India’ were one decade late. Modi brought them with a good intention something that Manmohan could have done earlier.
You are putting on a brave face to cover Modi’s failures. I understand Modi was the Great Hindu Hope.
Hain?
So Manmohan was the great Sikh hope and Sonia the great Catholic hope?
In 2014 intellectuals thought that Modiji would eliminate black money/corruption and would improve India’s economy.
After gaining power, he made a lot of foreign trips and even foreign media thought he would be the Messiah for India’s growth. His Make in India and Smart Cities initiatives seemed to show that under his leadership he was going to change the way things are done in India. So also demonetization for curbing black money.
He must have realised by 2017 that he could not stay in power by these initiatives.
He retreated back to the typical socialist style welfare schemes which gave him a connect to India’s lower class voters. He thus extended his voter base from his core Hindu upper class voter base.
Now post 2019 LS elections we see that he does not need to do much to stay in power. 40% of the people in any parliamentary election will vote for him without question. India is getting fascinated with him just like it was in the 70’s with Indira Gandhi.
When a leader can be in power without much efforts, what is the need for the leader to reform our economy? We are going to stay socialist and isolated for a very long time. Is the Indian voter mature enough to realise this ?
He is constantly passing out reforms such as GST, Farm Laws, Real estate etc etc. Endangering his vote base in so man statese
It is for the private sector and Indian people to figure out how they want to thrive in an increasingly competitive world. Government job is to remove roadblocks , reasonable infrastructure and enable the people to perform. That simple. Like a manager and employees. No leader has a magic wand however popular he or she may be.