The reasons for both sides preventing any escalation lie in the political and military context of the strategic situation in West Asia within the larger global geopolitical framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Coaching centres for Army aspirants in Jhunjhunu are shutting down due to plummeting admissions in the face of a lack of job guarantees under Agnipath Scheme.
Our problem is that while we have ever growing expenses on account of social spending and administrative costs, tax revenues are falling short due to sluggish economy and structural issues. We need to consciously accept that for next 5 years, while we make our direct and indirect tax system modern and at par with the best in the world, we shall accept the deficit much beyond FRBM thresholds but also rationalize and consolidate subsidies into a single DBT payment to the targeted population. So no pro poor measure suffers and yet government is able to reduce and simplify taxes and spur growth in next 5 years. Our practical goal should be to reduce trade deficit with China to zero from 70 billion USD in next five years by increasing our local manufacturing and creating jobs. Hopefully Modi takes this as a political challenge now that he has taken the toughest decision on Art 370. He should not bother about economists but go by his gut feelings. If this works, he will be the greatest PM ever for the country but it fails, people will still back him for honest attempt. We are living with consequences of UPA II anyways!
LTCG tax needs to be removed to revive the economy as well as the private investment to boost the economy… Instead of Agriculture, the government should more emphasis to the manufacturing sectors to alleviate the problem of unemployment because agriculture has a very limited scopes of providing the employment as is is already facing a disgusted employment problem…
Very true. The announcement that pleased me the least was 70,000 crores as upfront bank recap. So much precious ATF – a lot of it contributed by the salaried middle class – will go up in smoke. If these foundational infirmities of the economy – sustained because they have created powerful stakeholders who benefit from them – are not removed, the economy will sink to a listless rate of growth that will make the removal of mass poverty difficult, much less make India a developed country. Toilets and LPG connections cannot power India’s rise to parallel China’s.
The biggest disappointment of the Modi govt has been on the economic front.
It is true that no one in the political spectrum has any better idea. But this is not an excuse.
India liberalized in 1991, but hasn’t had a majority govt since 1989, till now.
It is the duty of the NDA govt to somehow sell good economics as good politics too.
Merger of banks, another blunder like demonetitation. You will hear the truth after two years….
Our problem is that while we have ever growing expenses on account of social spending and administrative costs, tax revenues are falling short due to sluggish economy and structural issues. We need to consciously accept that for next 5 years, while we make our direct and indirect tax system modern and at par with the best in the world, we shall accept the deficit much beyond FRBM thresholds but also rationalize and consolidate subsidies into a single DBT payment to the targeted population. So no pro poor measure suffers and yet government is able to reduce and simplify taxes and spur growth in next 5 years. Our practical goal should be to reduce trade deficit with China to zero from 70 billion USD in next five years by increasing our local manufacturing and creating jobs. Hopefully Modi takes this as a political challenge now that he has taken the toughest decision on Art 370. He should not bother about economists but go by his gut feelings. If this works, he will be the greatest PM ever for the country but it fails, people will still back him for honest attempt. We are living with consequences of UPA II anyways!
LTCG tax needs to be removed to revive the economy as well as the private investment to boost the economy… Instead of Agriculture, the government should more emphasis to the manufacturing sectors to alleviate the problem of unemployment because agriculture has a very limited scopes of providing the employment as is is already facing a disgusted employment problem…
Very true. The announcement that pleased me the least was 70,000 crores as upfront bank recap. So much precious ATF – a lot of it contributed by the salaried middle class – will go up in smoke. If these foundational infirmities of the economy – sustained because they have created powerful stakeholders who benefit from them – are not removed, the economy will sink to a listless rate of growth that will make the removal of mass poverty difficult, much less make India a developed country. Toilets and LPG connections cannot power India’s rise to parallel China’s.
The biggest disappointment of the Modi govt has been on the economic front.
It is true that no one in the political spectrum has any better idea. But this is not an excuse.
India liberalized in 1991, but hasn’t had a majority govt since 1989, till now.
It is the duty of the NDA govt to somehow sell good economics as good politics too.