Indian Economy News & Discussion - Nov 27 2017

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vijayk
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Atmavik »

https://youtu.be/M_G5_DHBckU

Mark Möbius on investing in India , hope some emerging market funds increase their share of investment in India
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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drnayar
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by drnayar »

a war with China wrt Taiwan is a foregone conclusion., unless companies adapt their supply chains they will be in trouble., it would be a fallout from Ukraine x2
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Hriday »

I hope this post is not off topic here.

In the past I had sent a WhatsApp post to my family and school group about Indian economic policies and how it affects common man.

I had only a very general idea about economics. I want some help to write a short, summarized writing in few small paragraphs on,

1. What is wealth creation?

Common man thinks that there is a permanent, fixed amount of money in country and a good govt is the one who distributes the maximum money to poor people. Most people will be surprised to know that it is possible to increase money (wealth) which is called economic growth. How we convey this concept to common man in a way that they can understand ?

2. How infrastructure development and business activities helps common man living in distant parts of India?
Common man thinks that if he can't use the roads or products or jobs of a new factory some distance away then they are useless to him.

3. Why govt doing all the business ( Socialism) is bad ?

I hope Suraj and other knowledgeable persons here would respond. India lacks economic literacy.

My WhatsApp post is given below. Can anyone suggests improvements to it ?

My WhatsApp post.

I am not saying,vote for BJP. But ask Congress and Communist party to discard their policy of Socialism. I am sharing some bits of info about BJP's economic policy of Social Democracy which was borrowed from U.S. and Europe. I think it will be interesting for us because it involves vastly improved job opportunities, much better pay for govt and pvt employees etc..Many of the info here are from Suraj's (a mallu) post in Bharat Rakshak Forum. He was also in Twitter, @surajbrf.

1. India recently introduced Performance Linked Incentive (PLI) to boost mass manufacturing both for export and domestic market . The commitment so far received are around 550 billion dollars and growing. This will give India a huge surplus in merchandise exports and it alone can make India rich, like Gulf countries achieved with oil. Another factor is this PLI scheme involves batteries for electric vehicles also. Reliance says they are preparing for battery production and aims to achieve carbon neutral status by 2035. India imports 100 billion dollar worth petroleum per year. A majority of that money + from other merchandise exports will be re invested in India for numerous business activities thus generating jobs. This continuous wealth generation activities will help India to be a developed nation and achieve life quality similar to U.S and Europe.

To ensure the money is reinvested in India to create businesses and thus jobs , India did several reforms such as

1. GST

2. Reduction of corporate tax to 25% from 35, almost same as developed nations for attracting pvt companies. (Govt loses 1.5 lakh crore/year which they plans to recoup with increased economic development).

3. Ease of doing business ranking improved to 79 from 142 in 2014.

4. Removing hundreds of outdated laws which are earlier used for extorting money from business owners by politicians.

5. Massive boost in infrastructure such as roads (Total roads built from 2014 almost equals the total roads built in the last 50 years from 1947), rail (DFC creates over 5 times freight carrying capacity), 7 bullet train projects, over 100 new airports etc and many others..

And numerous other steps which supports businessmen.

Till now 60% of India are in near poverty, depending upon lown income inefficient farming since 1947. Many times their agri loans worth 1 lakh crore are waived. And they repeat this inefficient farming. Govt plans to present better job opportunities for farmers by urbanisation and contract farming for higher efficiency farming thus ensuring food safety for India and also for exports. Now India bringing all weather roads, near 24 hour electricity, cooking gas.Present plan is to bring piped water supply to every home in India by 2025. There is a news report that says with road connectivity there is a drastic reduction in poverty in villages as a result of wealth generation activities. These villagers are going to be the new low and middle income people in future..it is like we are adding another India. The demand generation (Goods+Services) and job opportunities will be huge.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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https://www.thehindubusinessline.com/in ... 769513.ece
‘Big hit’. Over 30,000 merchants have joined ONDC
46 ‘network participants’ have joined ONDC
The Government of India’s idea of creating a network of market participants, the Open Network for Digital Commerce (ONDC), seems to be a big hit with sellers and buyers of goods. In the one year that ONDC has been in operation, over 31,000 merchants with 37 lakh products to sell have registered themselves, according to Thampy Koshy, Managing Director and CEO, ONDC, has said.

Furthermore, the network has been taken up big time by auto and cab aggregators like Ola and Uber—over 56,000 vehicles have become a part of ONDC, in Bengaluru and Kochi. Illustratively, in the last one week, the daily average rides have come to 20,000, Koshy said. Also, 46 ‘network participants’ (such as Delhivery, Dunzo, e-Samudaay, PayTM, and Snapdeal) have joined ONDC, he said, on Friday.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by yensoy »

vijayk wrote:Image
Ambala is in Haryana, not Punjab. Hope the rest of the article is factual.

Farm bill should have been introduced with carve-out for Punjab, so they can see how well it is working in the rest of the country.

In the same light, bishops in Kerala want rubber MSP to be Rs 300/kg. Global rubber price is $1.54/kg which is Rs 127/kg. Why on earth should GoI subsidize a non-essential commodity by such a big amount?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by isubodh »

[quote
In the same light, bishops in Kerala want rubber MSP to be Rs 300/kg. Global rubber price is $1.54/kg which is Rs 127/kg. Why on earth should GoI subsidize a non-essential commodity by such a big amount?[/quote]

Does fixing MSP also obligate GoI to buy the item ? If so to what extent.
Farm commodities do get sold inspite of MSP, in private. sometimes to get money quickly at lesser rate to MSP or get a better price than MSP.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Pratyush »

isubodh wrote:
Does fixing MSP also obligate GoI to buy the item ? If so to what extent.
Farm commodities do get sold inspite of MSP, in private. sometimes to get money quickly at lesser rate to MSP or get a better price than MSP.
No.

But it drives out every one else.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by chetak »

Pratyush wrote:
isubodh wrote:
Does fixing MSP also obligate GoI to buy the item ? If so to what extent.
Farm commodities do get sold inspite of MSP, in private. sometimes to get money quickly at lesser rate to MSP or get a better price than MSP.
No.

But it drives out every one else.
what is the compulsion behind this demand.... and what is their angle....

Never heard of such conditions before, with the exception of the routine demands for hike in MSP, especially (only...) from northern states
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Aditya_V »

It is an impossible demand so they can tag BJP as anti farmer.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by gakakkad »

What's jean dreze still doing here . Deport the dude already. The French need his expertise in striking the more then we do.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by rajkumar »

gakakkad wrote:What's jean dreze still doing here . Deport the dude already. The French need his expertise in striking the more then we do.
If only life was that simple. Jean Dreze is a Indian national now. He took Indian citizenship during the UPA period.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by KL Dubey »

rajkumar wrote:
gakakkad wrote:What's jean dreze still doing here . Deport the dude already. The French need his expertise in striking the more then we do.
If only life was that simple. Jean Dreze is a Indian national now. He took Indian citizenship during the UPA period.
This clown does not appear to have any real job in India...just some honorary positions and council memberships. He and his wife were involved in "activism" in the adivasi belt, but seem to have gone silent after being thrown out from JH/CG a few years ago. Probably was very close to having his naturalization revoked and having to swim back to Belgium (he is not a Frenchman).
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Aditya_V »

KL Dubey wrote:[

This clown does not appear to have any real job in India... He and his wife were involved in "
activism" in the adivasi belt,
but seem to have gone silent after being thrown out from JH/CG a few years ago. Pr.
He has a real job, to help destroy Indian Economy and people.

By Activism you mean helping Maoists kill Tribal, Police and CAPF.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

Funny because neither Dreze nor Duflo are sought after for their views in home countries Belgium and France respectively. Duflo was a visiting professor for a season in a Paris university in 2020-21, not sure if it was even renewed. She has been critiqued for her works, incompleteness of her studies and impracticality of her conclusions.

That we are importing this cheap stale wine and serving them at our high tables shows how intellectually poor and clueless the TN govt is.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Vayutuvan »

KL Dubey wrote:He and his wife were involved in "activism" in the "adivasi" belt,...
FTFY. I am also from "adivasi" belt and I am also an Adivasi but this guy Dreze thinks that I am a settler.
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Indian Economy : April 2023

Highest GST at ₹1,87 Lakh Cr
Highest Railways freight loading
Highest Auto sales
Highest Monthly Home Sales
Highest Monthly UPI transaction
Highest Power Consumption
Lowest Bank NPA
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by williams »

vijayk wrote:Indian Economy : April 2023

Highest GST at ₹1,87 Lakh Cr
Highest Railways freight loading
Highest Auto sales
Highest Monthly Home Sales
Highest Monthly UPI transaction
Highest Power Consumption
Lowest Bank NPA
CAD 2.2 % & inflation 5.6. All round good news.
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Re: Indian Economy News & Discussion - Nov 27 2017

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GST collection for April highest ever at Rs 1.87 lakh crore.

India’s gross GST revenues hit a record high in April at ₹1,87,035 crore, 12% higher than the same month last year which had clocked the previous highest tax tally of ₹1.67 lakh crore.

GST revenues from domestic transactions carried out during March, including import of services, grew at a sharper 16% pace year-on-year in April, accelerating from the 14% recorded a month earlier.

While the Finance Ministry did not explicitly disclose the revenue growth attributable to goods imports for April, back-of-the-envelope calculations indicate there was a 4.5% decline from last April — the first contraction in revenues from goods imports in over a year.

The first three quarters of 2022-23 had recorded over 25% growth in GST revenues from goods imports. That growth was more tepid in the previous two months – 6% in February and 8% in March, indicating cooling domestic demand.

April’s decline in revenues from goods imports could have been partly triggered by the challenges faced by importers under a new Customs duty payment system introduced since April 1, indicated an official.

GST Compensation Cess collections also hit a fresh record of ₹12,025 crore in April, which included about ₹900 crore collected from imports of goods. This tally eclipsed the ₹11,931 crore collected through the Cess in February, which was the highest till now.

Mahesh Jaising, partner at Deloitte India, said the phenomenal growth in the overall collections was attributable to year-end compliances by taxpayers for 22-23 along with rising economic activity and the official push for GST audits.

“With revenues stabilising over the ₹1.5 lakh crore mark in recent months, the time is right to rationalise the multiple GST rate structure and undertake some forward-looking transformational changes to the law to help industry on the working capital front,” he said.

Central GST collections accounted for ₹38,440 crore, State GST levies raked in ₹47,412 crore, while the Integrated GST yielded ₹89,158 crore, which included ₹34,972 crore collected on import of goods, the ministry said.

April 20 also marked the highest ever single day GST collection, the ministry said, with ₹68,228 crore remitted by taxpayers through 9.8 lakh transactions. The same day last year had seen tax payments of ₹57,846 crore in 9.6 lakh transactions.

While overall domestic transactions yielded 16% higher revenue from last April, the trends were very mixed across States. Revenue growth in Odisha was a mere 3%, while it was 4% in Gujarat, 5% in Rajasthan, 6% in Andhra Pradesh and 8% in Delhi.

Revenues from the erstwhile State of Jammu and Kashmir shot up 44% (43% in Ladakh), while the uptick was 28% in Madhya Pradesh, 23% in Karnataka, 21% in Maharashtra and 19% in Tamil Nadu and Jharkhand.

“GST collections have maintained a healthy 11% to 13% growth in recent months, but a normalising base and some cooling of inflation may moderate the pace of expansion slightly in the coming quarter,” said ICRA chief economist Aditi Nayar.

“The total number of e-way bills generated in March 2023 was 9 crore, 11% higher than 8.1 crore e-way bills generated in the February 2023,” the ministry said.

Prime Minister Narendra Modi said this is great news for the Indian economy. “Rising tax collection despite lower tax rates shows the success of how GST has increased integration and compliance,” he said in a tweet.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by isubodh »

Vips wrote:GST collection for April highest ever at Rs 1.87 lakh crore.

India’s gross GST revenues hit a record high in April at ₹1,87,035 crore, 12% higher than the same month last year which had clocked the previous highest tax tally of ₹1.67 lakh crore.

.
With increasing revenues, should the GST council start looking at reduction in gross rates. Say like 200 basis reduction in 18% rate.
18% n 28% are very high rates after direct tax of 30% plus sucharge
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Cyrano »

If the GST collections are going into long term infrastructure and asset creation, at the point were are on the development curve, this money is better spent in the hands of central govt than part of it staying with the people to be used for marginal consumption

Kind of deferred gratification if you will.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Cyrano wrote:If the GST collections are going into long term infrastructure and asset creation, at the point were are on the development curve, this money is better spent in the hands of central govt than part of it staying with the people to be used for marginal consumption

Kind of deferred gratification if you will.
Definitely ... There will be more compliance too
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Re: Indian Economy News & Discussion - Nov 27 2017

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Re: Indian Economy News & Discussion - Nov 27 2017

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Indian Railways Gross Revenue.

FY22 - 1.91 lakh crore. (~$23 billion)
FY23 - 2.44 lakh crore. (~$30 billion)
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Atmavik »

vijayk wrote:Indian Railways Gross Revenue.

FY22 - 1.91 lakh crore. (~$23 billion)
FY23 - 2.44 lakh crore. (~$30 billion)

DFC impact ?
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by vijayk »

Atmavik wrote:
vijayk wrote:Indian Railways Gross Revenue.

FY22 - 1.91 lakh crore. (~$23 billion)
FY23 - 2.44 lakh crore. (~$30 billion)
DFC impact ?
24,000 cr out of 49,000 cr growth came from from freight (15% growth)
24,000 cr our of 49,000 cr growth came from passenger (61% growth)

https://www.ndtv.com/india-news/railway ... 23-3957026
In 2022-23, the freight revenue rose to ₹ 1.62 lakh crore, a growth of nearly 15 per cent from the previous year.

Indian Railways' passenger revenue has registered an all-time high growth of 61 per cent to reach ₹ 63,300 crore.

"After three years, Indian Railways is able to fully meet the pension expenditures. Buoyancy in revenues and tight expenditure management have helped in achieving an operating ratio of 98.14 per cent, well within the RE target. After meeting all revenue expenditure, railways generated ₹ 3,200 crore for capital investment from its internal resources," it said.

The railways has over the years approached the Finance Ministry to bear parts of its pension burden.

The statement further stated that in terms of traffic revenue, the railways earned ₹ 63,300 crore in 2022-23 as compared to ₹ 39,214 crore in 2021-22.

The railways earned ₹ 5,951 crore as other coaching revenue in 2022-23 as compared to ₹ 4,899 crore during 2021-22.


Sundries revenue stood at ₹ 8,440 crore during FY 2022-23 as compared to ₹ 6,067 crore in 2021-22.
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Re: Indian Economy News & Discussion - Nov 27 2017

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FASTag toll collection hits record ₹193.15 crore in a day with 1.16 crore transactions.

The daily toll collection through the FASTag system reached a all-time high of Rs 193.15 crore on April 29 with 1.16 crore transactions. This is the highest single day transaction recorded so far, said National Highway Authority of India (NHAI) on Tuesday, according to a government release.

Further, NHAI in a statement said that since February 2021, when the FASTag was mandated by the government, the number number of toll plazas under FASTag programme has increased from 770 to 1,228 including 339 state toll plazas.

"With a penetration rate of around 97 percent and over 6.9 crore FASTag issued to users, the system has significantly improved the user experience by reducing waiting times at NH Fee Plazas," the statement said.

The statement further mentions that the consistent and progressive adoption of the FASTag by highway users has not only enhanced the efficiency of toll operations but also led to a more precise valuation of road assets, attracting further investment in India's highway infrastructure.

In addition to its effectiveness in toll collection, FASTag has also facilitated seamless and secure contactless payment for parking fees at over 140 parking lots in 50+ cities across India, NHAI added.

NHAI also said that it is actively working towards finalizing the necessary requirements for implementation of Global Navigation Satellite System (GNSS) based tolling system for allowing free-flow tolling system in India.

FASTag uses radio-frequency identification (RFID) technology, which provides users a smooth crossover at toll plazas without halting. The payment is made digitally through the FASTag linked to the bank wallet.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Jay »

With the way we are racing with building highways and how many indians are getting into newer vehicles and embracing digitization of payments, I'm confident that by the end of 2025, we will be seeing days where this number is ₹500.00 crore. Just thinking about it gives me goosebumps.
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by sanman »



da growth shtoree has too many fairytales
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Re: Indian Economy News & Discussion - Nov 27 2017

Post by Pratyush »

Don't worry about startups failing.

Over 90% of the startups fail in the first year.

I used to worry about a lack of startups in India.

We need thousands of these. So that enough survive to build a strong eco system.
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Re: Indian Economy News & Discussion - Nov 27 2017

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