Businesses aren’t investing thanks to mistakes made by UPA. But Modi 1.0 must share the blame for muted financial reforms, partisan telecom policy etc.
The 1991 liberalisation left the financial sector unreformed. The uncompetitive finance system whose growth depends on taxpayer bailouts needs to be replaced.
Finance Minister Nirmala Sitharaman Thursday tabled the Economic Survey 2018-19 in Parliament. The document was prepared by Chief Economic Adviser Krishnamurthy Subramanian.
Canada faces serious foreign interference issues, but these challenges must not be weaponized to unfairly target friendly and important allies like India.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Among 19 Indian firms sanctioned by US Treasury Dept was Lokesh Machines Ltd accused of coordinating with 'Russian defence procurement agent to import Italy-origin CNC machines'.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
This is post fact analysis, in the midst of slow down , all the things that happen, like low investment, falling consumption, low wage growth , stastics are presented for these. What would be valuable insight is ;what is to be done under the circumstances.
Good statistical data and conclusions of reports ! Shows a bad picture indeed. No consumer demand growth with falling cash reserves of the govt coffers. Comes a budget to pick up hackneyed and often draconian measures ……now a back flip by the Finance Minister on a few counts. All the whining done ! But what are the suggestions/ solutions? What are the arguments that backs the proposed solutions ….howsoever preposterous it may seems. This is when a columnist worth his salt makes him a faced in the crowd ! Otherwise it same old grind whining after gathering of statistics, putting on social media profiles “Columnist” with more narcissist of them even mentioning the publications ! Work done, blame the usual suspect, sit on a dias, and end of the story.
My 2 cents,
Regards,
Modi damaged economy in his first term? You are a Anti-National you don’t look at India in a positive way. We did surgical strike, and we took revenge of Pulwama we did surgical strike on corruption by demonetization, we changed name of Mughal Sara, We killed live satilite, Our NRIs are very happy with new India, we made cow shelters, no terrorists incedents in rest of India, this year we gwt rid of Article 370, Triple Talaak, Chidambaram arrested, Kashmiri pandits going back to settle in Kashmir, Sadhvi Pragya got elected to MP. We made the citizens realize that how important is selling pakodas. WHAT ELSE YOU WANT? GDP? WE HAVE A NEW FORMULA TO CALCULATE IT
Andher nagri chaupat Raja takey ser bhaji takey ser khaja
Sarcasm at its best !
Here is a basic question that has not been asked, what is India’s true potential for per capita GDP? A simple but predictive correlation between IQ and GDP shows that India’s potential should be similar to countries like Philippines and Morocco, which is where it is today, in the past it was intentionally suppressed by the license raj, and since it’s unshackling in 1991 India has rapidly caught up to its full potential.
Now most of the people reading this article will be a vehemently disagree that average IQ of India is similar to Philippines or Morocco, but that’s what all the past testing has shown, the 2009 PISA tests actually were even lower than that.
There is one thing that could greatly increase India’s AVERAGE IQ over time, making trash and open sewers disappear. It has been conclusively shown that kids exposed to sewage have retarded growth which you have to assume affects their brain development also. Thank of millions of kids today that are living next to sewage and trash, and how that affects their full potential 20 years down the line.
If the effort is to soften the blow of fair criticism, we can bring UPA into the discussion. Could take the conversation back to PM Nehru for that matter. However, five years is one full term in office, at both the Centre and in the states. He Constitution considers that is sufficient time for a government to prove itself, deliver results, or be shown up as unworthy of reelection. 2. There was nothing in the trousseau this government received in May 2014 so toxic that it can pass the buck for its failures to its predecessor. The NPA tumour was visible to all, it required effective intervention, not Gyaan Sangam and Indradhanush. Or UDAY for the power sector. For five years, the government has been making the bed. We are all lying in it. Difficult to find a spot that is clean and dry and fragrant.
“Investment mistakes during UPA rule..”
Without any elaboration this merely becomes a blame:Shoot & scoot.
We expect such articles to enlighten the ordinary public and not to indulge in political slugfest.
Can the author at least now tell what those mistakes are?
If journalists don’t start from blaming the UPA before criticising the blunders of the BJP, they will finish on the CBI visit list. Better to be safe then sorry.
I advisedly use the word blunder. If Demonetisation was not a blunder, then what was?
They should just come out and admit that GST will lead to loss of revenues and take the shortfall hit for next two-three years. Once they do that then it will also focus minds in the government on serious disinvestment and prudent use of borrowed money. Admitting to the shortfall but then taking serious measures to deal with it will allow the markets to forgive a slightly higher fiscal deficit. The revenue shortfall is the real issue and its impact is way beyond many people realize.
Even the sun rises every morning because of the Congress.
You people donot have any idea about economy but all Modi Bhakthas are talking about everything under the sun, The pattern is like this You BLAME UPA-I and UPA-2 for everything and start to use “Brute majority and clear mandate” and “MODI 1.0” Did SWATCH BHARATH in economy and MODI 2.0 will make STAND UP INDIA in economy a success. Finished,You will be rewarded my amith bhai.
Indians have wisely chosen Modi otherwise Congress would have made Indian banks bankrupt by now. The sins committed by UPA are so many and their effect would be felt for a long time. Corruption was the birth right for Congees. If Chidambaram can be maha corrupt, who remains untainted in Congress. IL&FS is their creation. NPAs are their creation. Private companies were running on public money. All has added up now.
So please, BJP supporters, use a bit of logic and common sense before absolving Modi of his blunders and blaming the UPA for everything that’s gone wrong.
Let BJP and Modiji clear mess done in last 5 years?
This is post fact analysis, in the midst of slow down , all the things that happen, like low investment, falling consumption, low wage growth , stastics are presented for these. What would be valuable insight is ;what is to be done under the circumstances.
Good statistical data and conclusions of reports ! Shows a bad picture indeed. No consumer demand growth with falling cash reserves of the govt coffers. Comes a budget to pick up hackneyed and often draconian measures ……now a back flip by the Finance Minister on a few counts. All the whining done ! But what are the suggestions/ solutions? What are the arguments that backs the proposed solutions ….howsoever preposterous it may seems. This is when a columnist worth his salt makes him a faced in the crowd ! Otherwise it same old grind whining after gathering of statistics, putting on social media profiles “Columnist” with more narcissist of them even mentioning the publications ! Work done, blame the usual suspect, sit on a dias, and end of the story.
My 2 cents,
Regards,
Modi damaged economy in his first term? You are a Anti-National you don’t look at India in a positive way. We did surgical strike, and we took revenge of Pulwama we did surgical strike on corruption by demonetization, we changed name of Mughal Sara, We killed live satilite, Our NRIs are very happy with new India, we made cow shelters, no terrorists incedents in rest of India, this year we gwt rid of Article 370, Triple Talaak, Chidambaram arrested, Kashmiri pandits going back to settle in Kashmir, Sadhvi Pragya got elected to MP. We made the citizens realize that how important is selling pakodas. WHAT ELSE YOU WANT? GDP? WE HAVE A NEW FORMULA TO CALCULATE IT
Andher nagri chaupat Raja takey ser bhaji takey ser khaja
Sarcasm at its best !
Here is a basic question that has not been asked, what is India’s true potential for per capita GDP? A simple but predictive correlation between IQ and GDP shows that India’s potential should be similar to countries like Philippines and Morocco, which is where it is today, in the past it was intentionally suppressed by the license raj, and since it’s unshackling in 1991 India has rapidly caught up to its full potential.
Now most of the people reading this article will be a vehemently disagree that average IQ of India is similar to Philippines or Morocco, but that’s what all the past testing has shown, the 2009 PISA tests actually were even lower than that.
There is one thing that could greatly increase India’s AVERAGE IQ over time, making trash and open sewers disappear. It has been conclusively shown that kids exposed to sewage have retarded growth which you have to assume affects their brain development also. Thank of millions of kids today that are living next to sewage and trash, and how that affects their full potential 20 years down the line.
If the effort is to soften the blow of fair criticism, we can bring UPA into the discussion. Could take the conversation back to PM Nehru for that matter. However, five years is one full term in office, at both the Centre and in the states. He Constitution considers that is sufficient time for a government to prove itself, deliver results, or be shown up as unworthy of reelection. 2. There was nothing in the trousseau this government received in May 2014 so toxic that it can pass the buck for its failures to its predecessor. The NPA tumour was visible to all, it required effective intervention, not Gyaan Sangam and Indradhanush. Or UDAY for the power sector. For five years, the government has been making the bed. We are all lying in it. Difficult to find a spot that is clean and dry and fragrant.
“Investment mistakes during UPA rule..”
Without any elaboration this merely becomes a blame:Shoot & scoot.
We expect such articles to enlighten the ordinary public and not to indulge in political slugfest.
Can the author at least now tell what those mistakes are?
It’s the new whataboutery.
If journalists don’t start from blaming the UPA before criticising the blunders of the BJP, they will finish on the CBI visit list. Better to be safe then sorry.
I advisedly use the word blunder. If Demonetisation was not a blunder, then what was?
They should just come out and admit that GST will lead to loss of revenues and take the shortfall hit for next two-three years. Once they do that then it will also focus minds in the government on serious disinvestment and prudent use of borrowed money. Admitting to the shortfall but then taking serious measures to deal with it will allow the markets to forgive a slightly higher fiscal deficit. The revenue shortfall is the real issue and its impact is way beyond many people realize.
Everything happens because of Congress!!!
Even Floods.
Even the sun rises every morning because of the Congress.
You people donot have any idea about economy but all Modi Bhakthas are talking about everything under the sun, The pattern is like this You BLAME UPA-I and UPA-2 for everything and start to use “Brute majority and clear mandate” and “MODI 1.0” Did SWATCH BHARATH in economy and MODI 2.0 will make STAND UP INDIA in economy a success. Finished,You will be rewarded my amith bhai.
Indians have wisely chosen Modi otherwise Congress would have made Indian banks bankrupt by now. The sins committed by UPA are so many and their effect would be felt for a long time. Corruption was the birth right for Congees. If Chidambaram can be maha corrupt, who remains untainted in Congress. IL&FS is their creation. NPAs are their creation. Private companies were running on public money. All has added up now.
This is a completely one-sided view.
Did the UPA make mistakes? Of course yes.
Did they make ALL the mistakes? Of course not.
So please, BJP supporters, use a bit of logic and common sense before absolving Modi of his blunders and blaming the UPA for everything that’s gone wrong.
Let BJP and Modiji clear mess done in last 5 years?