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Indian Economy News & Discussion - Aug 26 2015

All threads that are locked or marked for deletion will be moved to this forum. The topics will be cleared from this archive on the 1st and 16th of each month.
Kakkaji
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Kakkaji » 04 Feb 2017 06:56

The demand to update the income tax slabs to account for inflation, and to index it to CPI to account for future inflation, is reasonable and long overdue. However the GoI cannot touch it now for fear of loss of revenue.

Maybe after the GST has been in existence for a couple of years, and starts bringing in revenues that were outside the tax net earlier, the GoI will attempt to rationalize the income tax rates and slabs.

It is unfortunate, but a similar case exists in the US Tax Code also. The Alternative Minimum Tax, which was meant to snag the rich folks who used too many tax loopholes/ exemptions, now hits the middle class as the amount was not indexed to inflation.

In the foreseeable future, the only relief I foresee for the salaried middle class in India is the gradual improvement in infrastructure and Government services, as the Congressera 'friction-losses' are reduced under the Modi regime.

hanumadu
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby hanumadu » 04 Feb 2017 13:41

The economic survey is getting rave reviews.

Justin Sandefur
‏@JustinSandefur

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Idea: a whole macro development course built on Economic Survey @arvindsubraman has produced.
Readable magnum opus.
http://finmin.nic.in/indiabudget2017-20 ... chap09.pdf




Milan Vaishnav
‏@MilanV

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Milan Vaishnav Retweeted Justin Sandefur
A veritable bonanza for those seeking PhD dissertation ideas



arvind subramanian ‏@arvindsubraman 19m19 minutes ago
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arvind subramanian Retweeted Milan Vaishnav
Thanks @MilanV and @JustinSandefur. That was very much a hope and would be a very gratifying outcome.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 06 Feb 2017 23:40

http://www.livemint.com/Opinion/zJxJaP1 ... world.html
"Economic priorities in a protectionist world

India needs to focus more on itself and use the opportunity to restructure and reform even as the world regards India as a (relative) beacon of hope".

An opinion of where the NDA government is doing well, and where it needs to improve regarding economic management.

Suraj
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 07 Feb 2017 06:57

Exports from SEZs touch Rs 2.36 lakh cr ($36 billion) during Apr-Sep
Exports from special economic zones (SEZs) have touched Rs 2.36 lakh crore during April-September period of the current financial year, Parliament was informed today.

States which have contributed maximum in the exports include Gujarat, Karnataka, Tamil Nadu, Maharashtra, Telengana and Uttar Pradesh.

During this period, 16.88 lakh jobs were generated and Rs 4.06 lakh crore were invested, Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha.

Card, Aadhaar-enabled payments at all PDS, fertiliser depots soon
In a major push for cashless transactions, point-of-sale (PoS) machines for credit/debit cards as well as Aadhaar-based transactions will be installed at all fair price shops and fertiliser depots over the next few months.

In an interview to PTI, Finance Secretary Ashok Lavasa said over 170,000 PoS machines have already been installed at public distribution system (PDS) shops and more will be done in the next few months.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 07 Feb 2017 15:17


nirav
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby nirav » 07 Feb 2017 15:26

The projections for Indonesia are very positive !

While our efforts to enhance trade with BRICs and eurozone are quite visible, there's a lack of visible movement/effort wrt Indonesia..

Heck they have Indo in their name !
There's a lot of untapped trade potential there for Desh.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 08 Feb 2017 07:22

http://www.business-standard.com/articl ... 036_1.html
"RBI working on green finance framework
Even for domestic loans, rate of interest would be decided after taking into consideration ESG score"
The Reserve Bank of India (RBI) is working on a framework for standardising green bond issuances and financing issues, to align India with other nations that already has such rules, according to sources.

The Indian Banks’ Association (IBA) held a meeting on Monday to provide their inputs to the central bank to develop the framework. Sources said RBI has just started the process and no concrete step has been taken.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 08 Feb 2017 09:59

Labour reforms: How Narendra Modi govt is looking to empower companies with up to 300 workers
The Modi government is fast-tracking the legislative part of labour reforms, long held up due to political reasons. Even though it hasn’t yet got the Opposition to agree to the agenda, at least one of the two important Bills in this regard will be pressed in the ongoing Budget session. If things go as per the Centre’s plan, establishments employing up to 300 will soon have the right to lay off workers without government approval and outsiders — read professional politicians — will be barred from leading trade unions in the organised sector. Currently, only smaller units employing up to 100 people can lay off workers sans government nod.

The proposed reforms are, however, not just industry-friendly — they also tend to make the workers’ rights more robust. For instance, the wage code will make national minimum wage mandatory for all establishments. Currently, the wage thresholds prescribed by the Centre are not followed by all states. In the proposed regime, while the states will have the power to fix the minimum wages, these can’t be below the national threshold. All four wage-related central Acts — the Minimum Wages Act, 1948, Payment of Wages Act, 1936, the Payment of Bonus Act, 1965, and the Equal Remuneration Act, 1976 — will be amalgamated under the proposed comprehensive wage code. The IR code also proposes to bar strikes without 14 days’ notice.

Plugging LPG subsidy leaks leads to Rs 21,000 crore ($3.5 billion) savings
As many as 3.3 crore fake, ghost and duplicate LPG connections have been blocked, leading to saving of Rs 21,000 crore in subsidies, said Oil Minister Dharmendra Pradhan.

The scheme is benefiting over 176 million consumers and over Rs 40,000 crore or USD 6.5 billion of subsidy has been transferred directly to the beneficiaries bank accounts in the last two years.

“It has also resulted in estimated saving of over Rs 21,000 crore or USD 3.2 billion in two years to the government,” he said.

Pradhan said an intensive exercise was also carried out for identifying duplicate, fake, ghost and inactive domestic LPG connections. As on April 1, 2015, 33.4 million connections were identified and blocked, saving Rs 21,000 crore subsidy in 2014-15 and 2015-16.

Model GST law to be finalized by month end
Model GST law, which is currently being vetted by the law department, is expected to be finalised by this month end, said a senior finance ministry official. The law will pave the way for roll out of the Goods and Services Tax (GST) from July 1.

Model GST laws including IGST are expected to be tabled in the Parliament in the second leg of the Budget session beginning March 9.

While the CGST will subsume central taxes of excise, central sales tax and service tax, IGST is to be charged on movement of goods and services from one state to another. States will also have to pass SGST or State Goods and Service Tax. Also, a GST Compensation Act needs to be approved by the Parliament to provide for compensation to states that lose revenue from implementation of GST in first five years.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Austin » 08 Feb 2017 18:23

Will slower nominal GDP growth worsen the debt-to-GDP ratio?

http://www.livemint.com/Opinion/ocYaMEl ... ratio.html

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby gakakkad » 08 Feb 2017 22:30

Austin wrote:Will slower nominal GDP growth worsen the debt-to-GDP ratio?

http://www.livemint.com/Opinion/ocYaMEl ... ratio.html


something does not make sense.. do we use inflation data in calculating nominal GDP ? is it affected by circulating free currency ? the logic seems lahori...

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 08 Feb 2017 23:18

Yes nominal growth is what we 'see' in the real world . I think the article is too dependent on ceteris paribus ('all else being the same'). However the lower nominal growth is principally due to lower inflation and not lower real growth . Therefore it doesn't directly follow that lower nominal growth suggests lower revenues. What's more, with lower inflation, the quality of spending goes up, since less is spent on cost of capital, i.e. Interest on loan .
Image

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 09 Feb 2017 01:01

http://www.livemint.com/Industry/vZs2YZ ... utral.html
"‘Clouded’ data on demonetisation impact led to RBI’s neutral stance: Patel

RBI governor says data “clouded” after demonetisation, leading to difficulties in having a clear assessment of the macroeconomic situation post 8 November"

The Reserve Bank of India (RBI) on Wednesday said lack of clear data of note ban impact prevented it from delivering a widely expected rate cut, while global cues that may push up prices, stubborn core inflation and the need for flexibility forced the central bank to adopt neutral stance from being accommodative.

“The Monetary Policy Committee (MPC) exercised abundant prudence in keeping the policy rates on hold while looking at these transient effects and awaited a clearer and unbiased assessment of inflation. The MPC is dedicated to achieve the 4% headline Consumer Price Index (CPI) inflation target while keeping in mind the objectives of the growth,” governor Urjit Patel told reporters in the customary post-policy presser.

The governor said data have been “clouded” after demonetisation, leading to difficulties in having a clear assessment of the macroeconomic situation post 8 November. On the shift of the policy stance from accommodative to neutral, which dashes hopes of future rate cuts, newly- inducted deputy governor in-charge of monetary policy committee Viral Acharya said there is a fear of hardening of oil and base metal prices globally which make the RBI shift its stance.

Patel pointed out that even though the headline inflation has cooled off to 3.4% in December, the non-fuel/non-food inflation core inflation continues to be “stubborn” at over 4.8%. “The committee felt that we needed all the flexibility that we could muster,” Patel said.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Vayutuvan » 09 Feb 2017 10:40

disha wrote:^^ I will be honored if 'Dog Biscuits' make it to the BRF Dictionary., though it was my father who introduced me to that term and hence the credit belongs to him.

A serious question. I heard that DB (Dog Biscoot) cost to company is ~5% of revenue. Is that in the right ball park?
Last edited by Vayutuvan on 09 Feb 2017 11:05, edited 1 time in total.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 09 Feb 2017 10:57

matrimc wrote:
disha wrote:^^ I will be honored if 'Dog Biscuits' make it to the BRF Dictionary., though it was my father who introduced me to that term and hence the credit belongs to him.

A serious question. I heard that DB (Dog Biscoot) cost to company is ~5% of revenue. Is tha in the right ball park?


Depends upon the company and the nature of the business. If the business is assembling several parts into a whole and selling it., then the DogBiscuit cost would be as high as 30-40%.

For example in surgical supply goods., there is no one single source. You can be obtaining the surgical supplies like gloves from S. TN while the glassware could be sold from say an office in bombay but manufactured somewhere else. So your dog biscuit network is as distributed and as segregated. Sometimes the dog biscuits are given in cash and sometimes in kind.

Here are the dog biscuits areas:

1. Octroi & Entry taxes (anything to do with inter-state and intra-state transactions)
2. Sales Taxes (dog biscuits are particularly necessary since you have to show that you have paid the CST to the local state tax office to facilitate goods at the entry points (a.k.a nakas)). Here the local ST office will take dog biscuits to say release 'C' Form to you (it could be A,B,C,D ... Z form for all you care) and then the see point #1 above for more dog biscuits.
3. Government officials., say if you are transacting with the government - then after you supplied your goods to the government, they would give you run around till they release the cheque to you. Dog Biscuits go as high as 10% of the transaction here.
4. IT wallah - now you get your money - put it in bank and 1-year later two IT wallah will hound you - one in item#2 above and then the other IT wallah who will check your books. This IT wallah is the worst of the dogs., since they do not understand boom/bust cycles. They will threaten you with raid if you show a loss or smaller revenue next year.

So you see why you do not get quality or why the local shopkeeper does not accept your returns if the goods are say broken or unopened. And now you see why the GST will end dog biting at points 1 & 2.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Vayutuvan » 09 Feb 2017 11:06

Disha, so as per you 5% is a lower bound. That is a little, how shall I put it, depressing.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 09 Feb 2017 13:47

matrimc wrote:Disha, so as per you 5% is a lower bound. That is a little, how shall I put it, depressing.


5%? Sir, no dog will even wag their tail at that rate!

Wait till you go into manufacturing :rotfl: Then you will have to deal with whole assortment of rules & regulations specially created for dog industry.

I will give you a very depressing example: West Bengal was famed for its glass works., there were several glass industries manufacturing glass for different needs - right from your puny test tubes to glass panes and glass table tops and what not. At one stage, one could count some 2-3 dozen different glass manufacturers. Now I think only 2-3 remain (concentrated in Kolkotta) and rest are just trading houses.

When a "glass kiln" is fired., it is better to not shut it down, since if it is shutdown the molten glass in the kiln cools, solidifies and plugs the kiln. One has to set up an altogether new kiln and fire it. A very costly proposition. Generally the glass kiln is kept hot - the temperature is varied for during lean production months or on days when there is very low production or no production. But the kiln is always kept hot (with fuel burning).

Now imagine due to labor issues and unnecessary intervention by government, the kiln is shut down. The manufacturer moves the kiln somewhere else. This is what happened, an entire glass industry moved from Kolkata to Gujarat. I was not surprised when Tata moved to Sanand, Gujarat. Because the glass industry was already there near Ahmedabad and were producing better and higher grade glasses and moving up the value chain. So building windshield for cars is just another step up.

This is what dog biscuits do to the nation. They not just wreck the service economy., they altogether destroy the manufacturing economy.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby arshyam » 09 Feb 2017 19:36

@disha saar, from your list of dog biscuit areas, which ones would be subsumed by GST?

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 09 Feb 2017 22:05

Items #1 and #2 and partially #4 (the sales tax dog tyranny part)

Item #3 is a direct txn between government and the contractor (say you are supplying window panes for government office or idli making machine for anna's idli kitchens or cycles for akkibhai's cycle grant program). This one will be largely mitigated by JAM/Direct Cash Transfer and getting government out of dole scheme and more privatizations. This is the toughest of all corruption to crack and there still will be corruption here., GST will set the stage but no direct impact. But again JAM/Direct cash txfer/Online contracting etc will mitigate it to a very large extent.

Item #4., all the sales-tax dog tyranny part should go away - lot depends on the GST platform and how foolproof it is., but if Indians can come up with a complex computerized railway reservation system., they can also come up with a great GST platform. But assuming a "text book launch" of online GST resolution platform., the entire sales-tax tyranny should go away. The black money among small businesses will also come down here.

Now you see why the rona-dhona against GST? Why the gloom and doom scenarios from #mediapimps?

Suraj
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 09 Feb 2017 22:21

Thanks for the great firsthand inputs, disha! It's worth packaging into a summary message and emailing or submitting online to PMOIndia too.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby M_Joshi » 10 Feb 2017 01:54

disha wrote:
matrimc wrote:A serious question. I heard that DB (Dog Biscoot) cost to company is ~5% of revenue. Is tha in the right ball park?


Depends upon the company and the nature of the business. If the business is assembling several parts into a whole and selling it., then the DogBiscuit cost would be as high as 30-40%.

For example in surgical supply goods., there is no one single source. You can be obtaining the surgical supplies like gloves from S. TN while the glassware could be sold from say an office in bombay but manufactured somewhere else. So your dog biscuit network is as distributed and as segregated. Sometimes the dog biscuits are given in cash and sometimes in kind.

Here are the dog biscuits areas:

1. Octroi & Entry taxes (anything to do with inter-state and intra-state transactions)
2. Sales Taxes (dog biscuits are particularly necessary since you have to show that you have paid the CST to the local state tax office to facilitate goods at the entry points (a.k.a nakas)). Here the local ST office will take dog biscuits to say release 'C' Form to you (it could be A,B,C,D ... Z form for all you care) and then the see point #1 above for more dog biscuits.
3. Government officials., say if you are transacting with the government - then after you supplied your goods to the government, they would give you run around till they release the cheque to you. Dog Biscuits go as high as 10% of the transaction here.
4. IT wallah - now you get your money - put it in bank and 1-year later two IT wallah will hound you - one in item#2 above and then the other IT wallah who will check your books. This IT wallah is the worst of the dogs., since they do not understand boom/bust cycles. They will threaten you with raid if you show a loss or smaller revenue next year.

So you see why you do not get quality or why the local shopkeeper does not accept your returns if the goods are say broken or unopened. And now you see why the GST will end dog biting at points 1 & 2.


The Dog Biscuit list for Manufacturers is really long:
5) PF wallah - Biennial dog biscuits.
6) ESI wallah - same as above.
7) Factory Act wallah - Any time visit. Dog biscuit to be ready.
8 ) BIS/Other Govt. Departments - Same as above
9) Electricity Department - Large quantity dog biscuits in the beginning, then smaller.
10) Excise & Service Tax wallah - dog biscuits every 2-4 years.
11) Town & Country Planning Dept - Dog biscuit in large quantity in the beginning. After that during random inspections.
12) Custom Officials/ RTOs/ State Barrier Officials : Small quantity dog biscuits required, otherwise your shipment will be held for flimsiest of reasons.
... + many more.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby ArmenT » 10 Feb 2017 21:40

disha wrote:^^ I will be honored if 'Dog Biscuits' make it to the BRF Dictionary., though it was my father who introduced me to that term and hence the credit belongs to him.

Dog Biscuit - Please review and correct definition as needed.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 11 Feb 2017 00:30

Many many thanks ArmenT'ji.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby hanumadu » 11 Feb 2017 03:41

ArmenT wrote:
disha wrote:^^ I will be honored if 'Dog Biscuits' make it to the BRF Dictionary., though it was my father who introduced me to that term and hence the credit belongs to him.

Dog Biscuit - Please review and correct definition as needed.


Implicit in the term is that the bribe takers are like dogs looking expectantly at you for some scraps. So it is akin to throwing some scraps to a dog to keep him quiet or calm him down.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby arshyam » 11 Feb 2017 08:54

disha saar, thanks! For one, we can expect a significant reduction in the lorry queues at border checkposts. Should improve productivity of the trucking industry significantly.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 11 Feb 2017 22:55

Arshyam'ji - you have not yet seen the depths of babudom creativity yet. There is RTO!! And green tax!! And restrictions on commercial vehicles! And then there are desis who try everything to avoid RTO etc!! But yes with electronic toll collection, separate lanes for trucks etc are parallel enhancements that will ease congestion. Core is removal of octroi/entry-taxes etc., the avenues for dog-biscuits are minimized and smooth flow of goods & services will enable growth in economy. Per nomura., the trucking efficiency will increase by 18%.

One has to read this: http://www.gstindia.com/tired-of-queuing-up-at-state-borders-truckers-hope-for-an-early-gst/

Here are the implications of GST.,

1. Sitting in Bengaluru, Kerala - I can purchase blocks of granite from Mangalore, AP - and ship them to shilpis in ChengalPet, Raj and Udaipuram, TN. And from there I will ship the finished goods to major markets in Delhi, Ahmedabad, Chennai and other minor markets. This is done online., all I have to do is have prior contracts in hand and payment by bank on receipt of goods. Here the goods and services are both moved! The shilpis in ChengalPet, Raj have continues work contracts based on season and fashion and they do not have to move out to market their services. The granite from blocks (goods) come to their doorstep.

2. I can take a shipment of low-grade wheat from Punjab - send it to Bengalure, Kerala and process it into cattle-fodder or beer malt for markets in S. India.

3. Take Jute from bengal and send it to kerala, take coir from kerala and send it to madurai. Take dates from Gujarat and process it in Mah and send it to chennai and export it further into Indo-china. I am sure introducing date shake in Thailand will be a novelty!

4. Organic food from Manipur sold in the bazaar of Bengaluru, Kerala. All one has to do is put in a shipment on the train and take it up and directly sell it into the market! With computerization, the forms are also computerized - just stick it to the shipment!

So with GST., within a year-or-two I see an explosion by 30% in economic activity. To me that translates to 1.5% of growth in GDP. That is zoom-zoom-zoom Indian economy!

Hence hold on to your pants (or whatever)., a region which is size of Europe is going to be integrated! This is the biggest news so far this year.

This is another example http://www.gstindia.com/gst-with-examples/., note the calculation side steps octroi, entry-taxes etc.

And this might have been posted before, but retailers are already cottoning on GST - http://economictimes.indiatimes.com/industry/services/retail/retailers-seek-early-implementation-of-gst/articleshow/56666161.cms

Example of dog barking http://economictimes.indiatimes.com/news/economy/policy/irs-officers-protest-against-gst-councils-decisions/articleshow/56874234.cms (apologies if any posters are from central excise team or from IRS)

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby kmkraoind » 12 Feb 2017 13:42

Modi government to amend law to bar courts from stalling development projects
The government note, reviewed by The Sunday Standard, contains the new section, 14 A, seeking to restrict the power of courts to grant injunctions THAT impede or delay the timely completion of welfare projects. The draft will go to the Cabinet for approval, after which it will be introduced in Parliament when it opens on March 9.

The latest World Bank report ranks India among the bottom five of 190 countries on ease of doing business.

Section 14 A intends litigation not to halt the progress of infrastructure projects. Leaving no scope for interpretation, the amendment also seeks to specifically define “public works contract” by altering Section 2 of Specific Relief Act. “Public works contract means a contract entered into by or on behalf of the Central government, a state government, a local self government or an agency thereof, for the creation, upgradation, operation or maintenance of infrastructure, including roads, water supply, electricity, sewerage treatment, construction of public buildings, highways, bridges, ports, schools, airports, urban development and railways,” the note reviewed by this newspaper said.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 12 Feb 2017 19:05

Actually India ranked 130 out of 189 in the ease of doing business per the 2016 report.
http://indianexpress.com/article/busine ... nk-report/

One problem is that the World Bank measures only at Delhi and Mumbai, while most of the reforms have been adopted by other states in India.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 14 Feb 2017 04:19

January retail inflation falls to lowest in 2 years
The Consumer Price Index-(CPI) based inflation for the month of January 2017 plunged to 3.17 per cent, the lowest in at least two years, primarily due to a marginal increase in food prices. The retail inflation was 3.41 per cent in December and 5.69 per cent in January last year.

The Consumer Food Price Inflation (CFPI) for the month of January was 0.53 per cent, compared with 1.37 per cent in December and 6.85 per cent in January last year. Year-on-year prices of vegetables and pulses fell to 15.6 per cent and 6.6 per cent, respectively, last month. Inflation in January is well below the central bank’s target of 4 (+/-2) per cent.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 16 Feb 2017 05:34

Record 272MT food grains procured in 2016-17
ndia's food grains production in 2016/17 is expected to rise by 8.1 per cent from a year ago to a record high 271.98 million tonnes as good monsoon rains improved yields, the country's farm ministry said in a statement on Wednesday.

The country's production of wheat is likely to rise by 4.7 per cent from a year ago to 96.64 million tonnes, while pulses production will rise to 22.14 million tonnes, it said.

Record crop production to raise agri GDP growth to 5% this fiscal year

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Karthik S » 16 Feb 2017 06:18

Suraj wrote:Record 272MT food grains procured in 2016-17
ndia's food grains production in 2016/17 is expected to rise by 8.1 per cent from a year ago to a record high 271.98 million tonnes as good monsoon rains improved yields, the country's farm ministry said in a statement on Wednesday.

The country's production of wheat is likely to rise by 4.7 per cent from a year ago to 96.64 million tonnes, while pulses production will rise to 22.14 million tonnes, it said.

Record crop production to raise agri GDP growth to 5% this fiscal year


Looked up but didn't get any latest update on Indo Israeli partnership in agriculture. SSwamy stated sometime back that using their tech, India can increase agro output 7-8 times within 2 years. NM is scheduled to visit Israel later this year, and hopefully we can get something on this.

nirav
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby nirav » 16 Feb 2017 06:26

I recall reading a paper many years back by an Israeli author in Indo-Israel co operation in agriculture.

He was discussing Israeli mangoes that they grow in the desert and made a strong pitch to NOT share technology with India as in his opinion it would be detrimental to Israeli agricultural interests !

Yagnasri
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Yagnasri » 16 Feb 2017 11:13

http://timesofindia.indiatimes.com/busi ... 174381.cms

If sensible changes are made then it is good. This large NPA mess was created during UPA decade and unless it is cleared it is difficult to go for higher levels of growth for few more years.

Supratik
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Supratik » 16 Feb 2017 19:45

Israeli drip irrigation technology is already used in Gujrat. Was implemented during Modi era. Has significantly improved cotton output.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby disha » 17 Feb 2017 04:44

nirav wrote:He was discussing Israeli mangoes that they grow in the desert and made a strong pitch to NOT share technology with India as in his opinion it would be detrimental to Israeli agricultural interests !


Check out Jain Irrigations. http://www.jains.com/irrigation/drip%20irrigation%20system.htm - Desis do not require any ToT., all they need is a level playing ground to excel.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 17 Feb 2017 18:29

The headwind the Indian economy is facing:

India Ratings expects Gross Fixed Capital Formation, a proxy for private investment, to be worse than the estimated (-) 0.2 per cent in 2016-17. “As the GFCF growth in April-September FY17 was negative 4.4 per cent, to attain even negative 0.2 per cent in FY17, GFCF will have to grow at 4.2 per cent in October-March FY17. This looks quite unlikely more so with the de-legalisation of currency still playing out,” the agency said.


http://indianexpress.com/article/busine ... 7-4525426/

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby svinayak » 17 Feb 2017 21:18

disha wrote:
nirav wrote:He was discussing Israeli mangoes that they grow in the desert and made a strong pitch to NOT share technology with India as in his opinion it would be detrimental to Israeli agricultural interests !


Check out Jain Irrigations. http://www.jains.com/irrigation/drip%20irrigation%20system.htm - Desis do not require any ToT., all they need is a level playing ground to excel.


I know the owners of the Jain Irrigation. It is the largest Irrigation tech company. The company bought a Israeli company and now they are going global.

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 17 Feb 2017 23:27

GST Council to finalise draft model GST law tomorrow
The GST Council, which is meeting tomorrow, is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers. The Council, headed by Finance Minister Arun Jaitley and comprising representatives of all states, is also likely to finalise the definition of ‘agriculture’ and ‘agriculturist’ as well as constitution of a ‘National Goods and Services Tax Appellate Tribunal’ to adjudicate disputes.

The Law Ministry has sent the approved language and draft of the model GST Law, which outlines how the new national sales tax will be levied on goods and services.

Private Equity inflows in realty touch 9-year high at Rs 39,900 crore in 2016
Private equity investments in the real estate sector increased by 26 per cent during 2016 and touched a nine-year high of nearly Rs 40,000 crore, according to property consultant Cushman & Wakefield. Mumbai saw the highest share of inflow at 32 per cent of the total private equity investments in real estate (PERE). “PERE inflows in 2016 were seen at their highest in nine years at Rs 399 billion (USD 5.97 billion), registering a 26 per cent increase from Rs 316.7 billion (USD 4.8 billion) in 2015,” the consultant said in a statement. The number of deals closed during the year also rose only 5 per cent with 119 deals. Average deal size increased to Rs 3.4 billion (USD 50 million) from Rs 2.8 billion (USD 43 million) 2015, signalling increased confidence amongst investors to make larger investments into the Indian real estate sector.

A_Gupta
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 18 Feb 2017 20:32

Kerala Finance Minister Thomas Isaac:
After GST implementation the Commercial Taxes Department will shut down the border check-posts. But the state will have a mechanism to prevent tax evasions, said the minister.

“The plan includes setting up of surveillance cameras at entry points to the state through which officers can learn the registration number of goods vehicles entering the state. Action will be taken if an invoice bearing the vehicle’s number is not found on the GSTN portal,” he said.

http://www.newindianexpress.com/states/ ... 71863.html

??? Why does GST depend on which vehicle brought the goods in?

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Re: Indian Economy News & Discussion - Aug 26 2015

Postby A_Gupta » 18 Feb 2017 21:09

http://knowledge.wharton.upenn.edu/arti ... id-growth/
"Does India Need a Radically Different Approach for Rapid Growth?"

Suraj
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Re: Indian Economy News & Discussion - Aug 26 2015

Postby Suraj » 19 Feb 2017 00:47

A_Gupta wrote:??? Why does GST depend on which vehicle brought the goods in?

A vertical network of businessmen can avoid paying GST collectively by claiming no credits and paying no tax. Such checks are used to catch people who do that. As seen in DeMo thread, there's no shortage of people who consider it their right to evade taxes.


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