Modi will push for his version of state-driven capitalism led by a strong leader. But we know that can't work in a complex, private sector-driven economy like India.
Compassion and cohabitation with animals are ingrained in the Indian value system. A humane solution must be found for the rising conflict between man and free-range animals.
New bill aims to fix key issues with IBC 2016, including delays & patchy implementation, and protect creditors, with window for genuine promoters to retain control of their companies.
Putin sees this as a victory. Europeans have decided to deal with Trump on his terms for the sake of the larger Western alliance. We look at the lessons for us in India.
Most anti Modi economists are infected with “But the truth is …” virus as if they only know the truth and non in BJP know those truths.To propagate their line of thinking they hide the facts that no solution is without prones and cones. They dislike Modi but continue to suggest – what and how Modi should do. They forget that people have given mandate to Modi and not to them. There are multiple ways of doing the same thing with similar results. They should reconcile to the reality and contribute positively. For example if Modi government adopts an approach to solve a problem, these anti Modi economists should restrict their role to suggest improvement to the approach. If they rubbish the approach, Modi will any way apply it without improvements. I understand that Modi is smart enough to evaluate and accept the improvement suggested even by his haters. Modi has repeatedly said he looks for positive suggestions and not accusations. Modi knows well how to respond to criticism for political purposes. Therefore, instead of declaring that Modi has wasted first 5 years term or done nothing, they should stop churning half baked stories and start contributing positively.
One import sentence in my comment is inadvertently mistyped. It should read : “But overall, it is an undeniable truth that crores of families have been benefitted.” Sorry for the error.
Modi is a conservative Gujarati. He will not overspend. It can be reckoned from his first term that barring the failed gamble of demonetisation, he has been a cautious incrementalist. The idea of a single rate GST appears very attractive on paper but is not feasible in practice. The implementation was very cautious, as the government was apprehensive of the possible impact on direct tax collection. In addition there also commitment to states to make good deficit in tax collection. Now that the indirect tax revenue has stabilised at around Rs. one lakh crore per month, changes can be initiated. Other reforms include Insolvency and Bankruptcy Code and RERA. Consolidation in public sector banking is attempted. There is no wisdom in total privatisation of the banking industry. Modi will go step by step. However, in social sector economics, he is very aggressive. In the first term he introduced many schemes that had a strong bearing on the election results. I will just mention two (1) PM Awas Yojana – Urban & Rural. More than 39lakh families in the urban areas from the lower middle class have been benefitted. In the rural area the number is around one crore! (2) Encouraging self-employment through Mundra Yojana. The numbers are fascinating. In 2018-19 , total sanctions were to the tune of Rs.3 lakh crore to 5.41 crore borrowers. These are government numbers and could have some exaggerations. NPA generation is also reported. But overall it is an undeniable truth the crimes of families have been benefitted. These are just two examples which indicate why Modi was re-elected. The foremost reason for Modi’s re-election, however, is very low inflation. Inflation hits the poorest very hard and, therefore, is a destroyer of vote share. All other economic parameters are just statistical numbers; they don’t impact voters directly, but not inflation. Very high inflation is the single most important factor why UPA-2 lost in 2014.
You jokers have this arrogance that only you know and rest all fools. The country was run by them only with out any negative impacts. You can’t digest this and write crap and also beg for sustaining .
That would be the wrong conclusion to reach from the electoral sweep. Whether it is six thousand per annum under the PM Kisan Yojana, or six thousand per month under NYAY, these are cash doles, pocket money. The Congress would have struggled to find 3.6 trillion per annum for funding NYAY, amidst a slowing economy and loss of tax buoyancy. Mrs. Gandhi as a fantastic politician and a lousy economist. She had the mortification of seeing her stratospheric popularity melt from about 1973 onwards, almost entirely due to economic distress. 303 MPs in the Lok Sabha do not give the government a magic wand to remove poverty, true, but there is no option to deep structural reforms. A gifted Finance Minister and a team of world class economists need to start work on a patient who I reckon is in the ICU.
“……lead the Congress to some key victories in state assembly elections in the Hindi heartland last December. ”
Again and again the refrain from commentators the past few days (and past few months).
Nowhere these wise pundits will tell their readers that the two of the three victories in Rajasthan and MP were razon thin (by a few seat or two more) and in MP and Chattisgarh the govt in power had already been there for several back to back terms…
If against such background were the “handsome” victories — the naamdaar owas instrumental in these triumphs — then clearly the Cong was being set to fail.
Wittingly or unwittingly the Cong (and the naamdaar) believed the hype — then too voters said for Lok sabha they would vote differently.
But goaded by flatterers in the media Cong chose not to read the tea leaves.
——————————-
Is the author the same as the one who had coined the term BRICS with another economist from McKinsey??
I think not coz’ the analysis is perfunctory.
Had the author been observing….. the GST rates are basically two now…..as very few items remain in the highest slabs. GST when introduced had to be revenue neutral….so you could not have a single rate at once — the same rate for daily necessaries and a Mercedes car of course cannot be the same.
Modi’s knowledge of economics is better than only mine. Growth of people only comes through jobs, jobs, and more jobs. Because that alone gives purchasing power, which in turn gives a sense of wellbeing, happiness, and also gives a fillip to economy as a whole. And this is the fundamental thing that Modi is chary about. HE DOES NOT WANT TO GIVE JOBS to people who do not measure up by certain Hindutva yardstick. Didn’t we hear about lakhs of jobs that remain vacant in schools, colleges, Government offices? Why weren’t those vacancies filled? Why was there no mention of job creation in BJP’s election manifesto? Didn’t we hear him say yesterday, something about the struggle of 1857, and that we should exert ourselves in the creation of…now I missed the exact word…did he say SURAJ or SWARAJ? The former only means good governance, the latter could mean some Hindu Raj or something like that!
I am keeping my fingers crossed. He and his good friend Jaitley don’t know much economics, that we have seen. I really don’t know what Narendra Modi is really up to. He will need to be watched. Who knows, like a bagpiper he may take us all into the sea!
Most anti Modi economists are infected with “But the truth is …” virus as if they only know the truth and non in BJP know those truths.To propagate their line of thinking they hide the facts that no solution is without prones and cones. They dislike Modi but continue to suggest – what and how Modi should do. They forget that people have given mandate to Modi and not to them. There are multiple ways of doing the same thing with similar results. They should reconcile to the reality and contribute positively. For example if Modi government adopts an approach to solve a problem, these anti Modi economists should restrict their role to suggest improvement to the approach. If they rubbish the approach, Modi will any way apply it without improvements. I understand that Modi is smart enough to evaluate and accept the improvement suggested even by his haters. Modi has repeatedly said he looks for positive suggestions and not accusations. Modi knows well how to respond to criticism for political purposes. Therefore, instead of declaring that Modi has wasted first 5 years term or done nothing, they should stop churning half baked stories and start contributing positively.
One import sentence in my comment is inadvertently mistyped. It should read : “But overall, it is an undeniable truth that crores of families have been benefitted.” Sorry for the error.
Modi is a conservative Gujarati. He will not overspend. It can be reckoned from his first term that barring the failed gamble of demonetisation, he has been a cautious incrementalist. The idea of a single rate GST appears very attractive on paper but is not feasible in practice. The implementation was very cautious, as the government was apprehensive of the possible impact on direct tax collection. In addition there also commitment to states to make good deficit in tax collection. Now that the indirect tax revenue has stabilised at around Rs. one lakh crore per month, changes can be initiated. Other reforms include Insolvency and Bankruptcy Code and RERA. Consolidation in public sector banking is attempted. There is no wisdom in total privatisation of the banking industry. Modi will go step by step. However, in social sector economics, he is very aggressive. In the first term he introduced many schemes that had a strong bearing on the election results. I will just mention two (1) PM Awas Yojana – Urban & Rural. More than 39lakh families in the urban areas from the lower middle class have been benefitted. In the rural area the number is around one crore! (2) Encouraging self-employment through Mundra Yojana. The numbers are fascinating. In 2018-19 , total sanctions were to the tune of Rs.3 lakh crore to 5.41 crore borrowers. These are government numbers and could have some exaggerations. NPA generation is also reported. But overall it is an undeniable truth the crimes of families have been benefitted. These are just two examples which indicate why Modi was re-elected. The foremost reason for Modi’s re-election, however, is very low inflation. Inflation hits the poorest very hard and, therefore, is a destroyer of vote share. All other economic parameters are just statistical numbers; they don’t impact voters directly, but not inflation. Very high inflation is the single most important factor why UPA-2 lost in 2014.
The print is hell bend on proving Congress and RG as jokers.
You jokers have this arrogance that only you know and rest all fools. The country was run by them only with out any negative impacts. You can’t digest this and write crap and also beg for sustaining .
That would be the wrong conclusion to reach from the electoral sweep. Whether it is six thousand per annum under the PM Kisan Yojana, or six thousand per month under NYAY, these are cash doles, pocket money. The Congress would have struggled to find 3.6 trillion per annum for funding NYAY, amidst a slowing economy and loss of tax buoyancy. Mrs. Gandhi as a fantastic politician and a lousy economist. She had the mortification of seeing her stratospheric popularity melt from about 1973 onwards, almost entirely due to economic distress. 303 MPs in the Lok Sabha do not give the government a magic wand to remove poverty, true, but there is no option to deep structural reforms. A gifted Finance Minister and a team of world class economists need to start work on a patient who I reckon is in the ICU.
“……lead the Congress to some key victories in state assembly elections in the Hindi heartland last December. ”
Again and again the refrain from commentators the past few days (and past few months).
Nowhere these wise pundits will tell their readers that the two of the three victories in Rajasthan and MP were razon thin (by a few seat or two more) and in MP and Chattisgarh the govt in power had already been there for several back to back terms…
If against such background were the “handsome” victories — the naamdaar owas instrumental in these triumphs — then clearly the Cong was being set to fail.
Wittingly or unwittingly the Cong (and the naamdaar) believed the hype — then too voters said for Lok sabha they would vote differently.
But goaded by flatterers in the media Cong chose not to read the tea leaves.
——————————-
Is the author the same as the one who had coined the term BRICS with another economist from McKinsey??
I think not coz’ the analysis is perfunctory.
Had the author been observing….. the GST rates are basically two now…..as very few items remain in the highest slabs. GST when introduced had to be revenue neutral….so you could not have a single rate at once — the same rate for daily necessaries and a Mercedes car of course cannot be the same.
Modi’s knowledge of economics is better than only mine. Growth of people only comes through jobs, jobs, and more jobs. Because that alone gives purchasing power, which in turn gives a sense of wellbeing, happiness, and also gives a fillip to economy as a whole. And this is the fundamental thing that Modi is chary about. HE DOES NOT WANT TO GIVE JOBS to people who do not measure up by certain Hindutva yardstick. Didn’t we hear about lakhs of jobs that remain vacant in schools, colleges, Government offices? Why weren’t those vacancies filled? Why was there no mention of job creation in BJP’s election manifesto? Didn’t we hear him say yesterday, something about the struggle of 1857, and that we should exert ourselves in the creation of…now I missed the exact word…did he say SURAJ or SWARAJ? The former only means good governance, the latter could mean some Hindu Raj or something like that!
I am keeping my fingers crossed. He and his good friend Jaitley don’t know much economics, that we have seen. I really don’t know what Narendra Modi is really up to. He will need to be watched. Who knows, like a bagpiper he may take us all into the sea!
Print’s views are sane & serious as gupta ji’s 12 fakisms wwhy.