The plan has left economists wondering how this would be rolled out without breaching the budget deficit goal of 3.4% of GDP for the fiscal year starting April.
India is set to miss budget deficit target for a second straight year by overestimating the income it expects to receive from taxes, asset sales and other sources.
Modi govt’s expansionary budget is bound to pose a challenge for RBI Governor Shaktikanta Das, who’s chairing his first Monetary Policy Committee meeting.
Prime Minister Narendra Modi has a reputation for fiscal prudence, so the expectation is that somehow or the other his finance ministry will get the numbers in line.
The IndiGo crisis is nothing short of a threat to India’s stability. Could it be an experiment? Can this happen in any other crucial sector like power or railways?
November exports to the US saw 10% growth from the previous month. Overall, in the first 8 months this fiscal, the merchandise exports to the US touched has touched $59bn.
It is argued that India-Israel ties are moving from buyer–seller dynamic to one focused on joint development & manufacturing partnership, a shift 'more durable' than traditional arms sales.
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
India’s population has climbed to 132. crores. Further growth has to be contained. More than half the national budget is spent in feeding and providing freebies to the poor, whose number continues to grow. Massive financial incentives are needed to contain population growth and reverse the trend in about 10 yrs. When media people are advising politicians on so many issues, why they are silent on the issue of runaway population growth? 1.4 crores students pass out of class 12th every year. Less than 20% get admission in colleges and after college only a fraction are seriously employable. The rest merely add up to the crowd that has no earning capacity. For every threat that politicians face, there is only one solution “reservation”. The nation’s best minds are being driven out of the nation under the guise of some sham idea called “Social Justice”. The Dravidian gangs drove out all brahmins from TN with supremacist reservation and with nil competition today, their leaders are still talking of need for Social Justice!!!
The congress has introduced the NYAY to get agent , bureaucrats politician nexus back again into business . Because he has FAMILY as a unit . He has abandoned the well established Adhar based individual as a unit. It will be left to the Tahsildar , agent politician to identify the FAMILY . Also Family can be split to show lower income level. e.g. Grand father and son and grandson can show on paper that they are separate families, with the help of agent. By the way what will happen of a person who has four wives ?
Nyay is not justice at all, but a ruse to create an illusion of fighting poverty (“garibi hatao!”, a dishonest slogan ever!), in order to fool people like Raghuram Rajan and win elections. After that, a free for all for the corrupt relics of the dynasty and their “prostrate at the feet” cronies!
Corruption angle need to be taken in consideration. In Goa pension scheme was introduced by late Manohar Parrikar for senior citizens widows. MLA were incharge of scheme one Congress MLA used call meeting after meeting forms were given to his trusted worker for distribution. This worker distributed forms to well of ineligible persons from his community. While Bhatkan (landlady) got pension her maid for whom scheme was intended for left out.
While this proposal from Congress is definitely unworkable, we should have some more detailed ideas from Ila on poverty alleviation/reduction beyond generally saying that we should have programs for investment, growth and jobs. It is the specific, actionable programs that are required to be spelled out. If Congress says that it consulted many economists, including Raghuram Rajan (with details of the scheme worked out by Chidambaram), it shows how hallow their competence is. It is very interesting to note that beyond bottom 20% of the households, the next 30% of of the households have income very close to the bottom 20%. This means 50% of the households actually deserve some sort of income support, if indeed one wants to have it! This scheme will therefore keep everyone poor for ever to claim the income support!
Rajan has always been a narcissist who has pathological love for the sound of his own voice. He is a business school professor who pretends to be an economist and acts like an activist and a politician. He was the worst choice to be a central banker. A central banker’s job is to work quietly in coordination with the government to discharge reserve bank’s responsibilities. A central banker is not an old west cowboy who is the law unto himself. But that’s exactly hiw Rajan behaved as the RBI governor. He was more interested in weekly television appearances, public lecturing and giving political commentary. I m glad he is no longer at the RBI.
Ya right! So your solution is – transfer all the money to big corporates who will keep most of it safe and then invest may be just 10% of it, create jobs (highly exploitative and very few) and the economy shall boom.
I don’t know how come these spokespersons of greedy corporates are even accepted as pop-economists.
बस यूं ही
एमआईजी यानी न्यूनतम आय गारंटी के बारे में सोच-सोचकर ही मेरा दिल बल्लियांे उछलने लगा। सोचा अब तो मौज ही मौज। बस नए प्रधानमंत्री जी बन जाएं। अब तक न कुछ करते थे न कुछ कमाते थे। अागे भी न कुछ करेंगे पर छह हजार रुपये हर महीने कमाएंगे। गली के मोड़ पर पहुंचे तो देखा कि रामू कुछ गुणा-भाग कर रहा है। पूछा क्या हुआ? वह बोला यार अब आएंगे अच्छे दिन। अब तक चार सौ रुपए दिहाड़ी मिलती थी पर आठ घंटे कमर सीधी करने का मौका ही नहीं मिलता था। बस नए प्रधानमंत्रीजी बन जाएं तो महीने में 15 दिन काम और 15 दिन छुट्टी या फिर रोज आधा ही दिन काम करूंगा। क्योंकि, छह हजार कमा लंूगा
बाकी के छह हजार रुपए तो नए प्रधानमंत्री की कृपा से मिल ही जाएंगे। सोच-सोच के ही अजीब सी फीलिंग हो रही है।
यही देखने के लिए कि आसपास के लोगों के क्या हाल हैं तो निकल पड़ा मोहल्ले में। कल पता चला था कि पंडितजी के बेटे का इन्क्रीमेंट हो गया है, उसे बधाई दे आऊं। पंडितजी के घर पहुंचा तो देखा कि मायूसी सी छाई हुई है। थोड़ी घबराहट हुई कि क्या हुआ? सोचा अंदर जाने से पहले पहले पड़ोसियों से ही पूछ लूं कि कुछ गड़बड़ तो नहीं है पता चला कि सब ठीक-ठाक ही है। अंदर जाकर तपाक से पंडित जी को बेटे के इन्क्रीमेंट की बधाई दे दी। पंडितजी ने बुरा से मंुह बना कर धन्यवाद दिया और बोले अरे काहे की बधाई। अब तक छह हजार रुपये मिलते थे और छह घंटे काम करना पड़ता था अब सेठ ने वेतन 12 हजार कर दिया है और आठ घंटे काम करना पड़ेगा। मैंने कहा भाई पैसे भी तो दोगुने मिलेंगे। पंडितजी बोले पहले ही ठीक थे, अब नए प्रधानमंत्रीजी के आने बाद तो पहले वाले छह भी 12 ही हो जाते। इनक्रीमंेट तो तुम जैसे निठल्लों का हुआ है न काम और फ्री के दाम। पंडितजी ने तुरंत ही बेटे को आदेश कर दिया कि सेठ से कह दो कि हमारे छह हजार ही ठीक हैं और हमें अब जीवन में कभी भी इन्क्रीमेंट नहीं चाहिए।
यहां से निकलकर पड़ोस की फैक्टरी में पहुंचा तो देखा कि वहीं पर नारेबाजी हो रहीं है। पूछा भाई क्या हो गया, बोले सेठ वेतन बढ़ाने को कह रहा है और हमने साफ कह दिया कि वेतन बढ़ाओगे तो नए प्रधानमंत्री के बनने पर भाई हम तो काम पर नहीं आने वाले। नए प्रधानमंत्री की जय हो।
और इधर बेचारे ठीकठाक कमाने वाले लोग तो नए प्रधानमंत्रीजी की ताजपोशी से पहले ही दहशत में हैं। उनका कहना है कि कमाने वाला कटेगा, तभी तो निठल्लों मंे बंटेगा।
Yes it’s absolutely true it is not the answer to ending povertyRahul Gandhi’s promise of a minimum basic income, the biggest income transfer programme to be announced, is fraught with challenges.
India’s population has climbed to 132. crores. Further growth has to be contained. More than half the national budget is spent in feeding and providing freebies to the poor, whose number continues to grow. Massive financial incentives are needed to contain population growth and reverse the trend in about 10 yrs. When media people are advising politicians on so many issues, why they are silent on the issue of runaway population growth? 1.4 crores students pass out of class 12th every year. Less than 20% get admission in colleges and after college only a fraction are seriously employable. The rest merely add up to the crowd that has no earning capacity. For every threat that politicians face, there is only one solution “reservation”. The nation’s best minds are being driven out of the nation under the guise of some sham idea called “Social Justice”. The Dravidian gangs drove out all brahmins from TN with supremacist reservation and with nil competition today, their leaders are still talking of need for Social Justice!!!
The congress has introduced the NYAY to get agent , bureaucrats politician nexus back again into business . Because he has FAMILY as a unit . He has abandoned the well established Adhar based individual as a unit. It will be left to the Tahsildar , agent politician to identify the FAMILY . Also Family can be split to show lower income level. e.g. Grand father and son and grandson can show on paper that they are separate families, with the help of agent. By the way what will happen of a person who has four wives ?
Nyay is not justice at all, but a ruse to create an illusion of fighting poverty (“garibi hatao!”, a dishonest slogan ever!), in order to fool people like Raghuram Rajan and win elections. After that, a free for all for the corrupt relics of the dynasty and their “prostrate at the feet” cronies!
Corruption angle need to be taken in consideration. In Goa pension scheme was introduced by late Manohar Parrikar for senior citizens widows. MLA were incharge of scheme one Congress MLA used call meeting after meeting forms were given to his trusted worker for distribution. This worker distributed forms to well of ineligible persons from his community. While Bhatkan (landlady) got pension her maid for whom scheme was intended for left out.
If Congress comes to power they will take at least 5 years to decide who can be beneficiaries
While this proposal from Congress is definitely unworkable, we should have some more detailed ideas from Ila on poverty alleviation/reduction beyond generally saying that we should have programs for investment, growth and jobs. It is the specific, actionable programs that are required to be spelled out. If Congress says that it consulted many economists, including Raghuram Rajan (with details of the scheme worked out by Chidambaram), it shows how hallow their competence is. It is very interesting to note that beyond bottom 20% of the households, the next 30% of of the households have income very close to the bottom 20%. This means 50% of the households actually deserve some sort of income support, if indeed one wants to have it! This scheme will therefore keep everyone poor for ever to claim the income support!
Raghuram Rajan has reduced himself to a moron.
Rajan has always been a narcissist who has pathological love for the sound of his own voice. He is a business school professor who pretends to be an economist and acts like an activist and a politician. He was the worst choice to be a central banker. A central banker’s job is to work quietly in coordination with the government to discharge reserve bank’s responsibilities. A central banker is not an old west cowboy who is the law unto himself. But that’s exactly hiw Rajan behaved as the RBI governor. He was more interested in weekly television appearances, public lecturing and giving political commentary. I m glad he is no longer at the RBI.
Ya right! So your solution is – transfer all the money to big corporates who will keep most of it safe and then invest may be just 10% of it, create jobs (highly exploitative and very few) and the economy shall boom.
I don’t know how come these spokespersons of greedy corporates are even accepted as pop-economists.
बस यूं ही
एमआईजी यानी न्यूनतम आय गारंटी के बारे में सोच-सोचकर ही मेरा दिल बल्लियांे उछलने लगा। सोचा अब तो मौज ही मौज। बस नए प्रधानमंत्री जी बन जाएं। अब तक न कुछ करते थे न कुछ कमाते थे। अागे भी न कुछ करेंगे पर छह हजार रुपये हर महीने कमाएंगे। गली के मोड़ पर पहुंचे तो देखा कि रामू कुछ गुणा-भाग कर रहा है। पूछा क्या हुआ? वह बोला यार अब आएंगे अच्छे दिन। अब तक चार सौ रुपए दिहाड़ी मिलती थी पर आठ घंटे कमर सीधी करने का मौका ही नहीं मिलता था। बस नए प्रधानमंत्रीजी बन जाएं तो महीने में 15 दिन काम और 15 दिन छुट्टी या फिर रोज आधा ही दिन काम करूंगा। क्योंकि, छह हजार कमा लंूगा
बाकी के छह हजार रुपए तो नए प्रधानमंत्री की कृपा से मिल ही जाएंगे। सोच-सोच के ही अजीब सी फीलिंग हो रही है।
यही देखने के लिए कि आसपास के लोगों के क्या हाल हैं तो निकल पड़ा मोहल्ले में। कल पता चला था कि पंडितजी के बेटे का इन्क्रीमेंट हो गया है, उसे बधाई दे आऊं। पंडितजी के घर पहुंचा तो देखा कि मायूसी सी छाई हुई है। थोड़ी घबराहट हुई कि क्या हुआ? सोचा अंदर जाने से पहले पहले पड़ोसियों से ही पूछ लूं कि कुछ गड़बड़ तो नहीं है पता चला कि सब ठीक-ठाक ही है। अंदर जाकर तपाक से पंडित जी को बेटे के इन्क्रीमेंट की बधाई दे दी। पंडितजी ने बुरा से मंुह बना कर धन्यवाद दिया और बोले अरे काहे की बधाई। अब तक छह हजार रुपये मिलते थे और छह घंटे काम करना पड़ता था अब सेठ ने वेतन 12 हजार कर दिया है और आठ घंटे काम करना पड़ेगा। मैंने कहा भाई पैसे भी तो दोगुने मिलेंगे। पंडितजी बोले पहले ही ठीक थे, अब नए प्रधानमंत्रीजी के आने बाद तो पहले वाले छह भी 12 ही हो जाते। इनक्रीमंेट तो तुम जैसे निठल्लों का हुआ है न काम और फ्री के दाम। पंडितजी ने तुरंत ही बेटे को आदेश कर दिया कि सेठ से कह दो कि हमारे छह हजार ही ठीक हैं और हमें अब जीवन में कभी भी इन्क्रीमेंट नहीं चाहिए।
यहां से निकलकर पड़ोस की फैक्टरी में पहुंचा तो देखा कि वहीं पर नारेबाजी हो रहीं है। पूछा भाई क्या हो गया, बोले सेठ वेतन बढ़ाने को कह रहा है और हमने साफ कह दिया कि वेतन बढ़ाओगे तो नए प्रधानमंत्री के बनने पर भाई हम तो काम पर नहीं आने वाले। नए प्रधानमंत्री की जय हो।
और इधर बेचारे ठीकठाक कमाने वाले लोग तो नए प्रधानमंत्रीजी की ताजपोशी से पहले ही दहशत में हैं। उनका कहना है कि कमाने वाला कटेगा, तभी तो निठल्लों मंे बंटेगा।
Yes it’s absolutely true it is not the answer to ending povertyRahul Gandhi’s promise of a minimum basic income, the biggest income transfer programme to be announced, is fraught with challenges.
Yes it’s absolutely true it is not the answer to ending poverty