Indian Economy News & Discussion - Nov 27 2017

Cyrano · Post by **Cyrano** » 25 Oct 2023 13:51

^^^9000 cr INR = 300 MUSD.

Access to such loan schemes instead of getting ripped off pvt money lenders is surely a great thing, but I'm not sure how much difference it makes in a huge country like India. What does "active vendor" mean? The stats need to be better understood.

JTull · Post by **JTull** » 25 Oct 2023 13:53

Cyrano wrote: ↑25 Oct 2023 13:51 ^^^9000 cr INR = 300 MUSD.

Access to such loan schemes instead of getting ripped off pvt money lenders is surely a great thing, but I'm not sure how much difference it makes in a huge country like India. What does "active vendor" mean? The stats need to be better understood.

Is this sarcasm? The numbers are way off the exchange rate.

Cyrano · Post by **Cyrano** » 25 Oct 2023 14:15

Apologies, my bad. Its about 1 Billion USD.

Cyrano · Post by **Cyrano** » 25 Oct 2023 16:55

^^^viewtopic.php?p=2605454#p2605454

See the video posted, quite an interesting discussion on this very topic about 50mins onwards...

SriKumar · Post by **SriKumar** » 28 Oct 2023 04:36

Not sure what thread this falls under but these B. Tech graduates are applying for peon jobs and taking a cycle test. Sounds weird....
In Gods own country...

https://timesofindia.indiatimes.com/ind ... s?from=mdr

Atmavik · Post by **Atmavik** » 28 Oct 2023 07:56

Cyrano wrote: ↑25 Oct 2023 13:51 ^^^9000 cr INR = 300 MUSD.

Access to such loan schemes instead of getting ripped off pvt money lenders is surely a great thing, but I'm not sure how much difference it makes in a huge country like India. What does "active vendor" mean? The stats need to be better understood.

Cyrano Ji, this could be the biggest scheme/reform. the plan is to create a credit history for micro business and give access to this data to fin techs and banks. today these folks borrow money at exorbitant rates. if they can be brought under the formal banking sector their cost of capital can be 1/2 . this will also force our traditional money lenders to invest their capital elsewhere

vijayk · Post by **vijayk** » 31 Oct 2023 03:43

JTull · Post by **JTull** » 31 Oct 2023 13:20

I'm glad that GoI isn't just writing cheques under PLI schemes. They're undertaking a deep dive into the entire supply and value chains.

JTull · Post by **JTull** » 01 Nov 2023 18:27

GST Collections In October 2023 Hit Second Highest Ever Of Rs 1.72 Lakh Crore

GST collections surge to second-highest ever! The gross GST (Goods and Services Tax) revenue for October 2023 amounted to Rs 1,72,003 crore, comprising Rs 30,062 crore in CGST (Central GST), Rs 38,171 crore in SGST (States GST), Rs 91,315 crore (including Rs 42,127 crore from imported goods) in IGST, and Rs 12,456 crore (including Rs 1,294 crore from imported goods) in cess.

In a breakdown of revenue distribution, the government allocated Rs 42,873 crore to CGST and Rs 36,614 crore to SGST from IGST. After the customary settlement, the total revenue for the Centre and the States in October 2023 stood at Rs 72,934 crore for CGST and Rs 74,785 crore for SGST.
According to the Ministry of Finance, the GST revenue collection for the month of October 2023 is the second highest ever, with the highest GST collections recorded in April 2023 at Rs 1.87 lakh crore.

GST revenue for October 2023 was 13% higher. Likewise, revenue from domestic transactions (including import of services) in the same month saw a 13% increase compared to the previous year. The average monthly gross GST collection for the fiscal year 2023-24 now stands at Rs 1.66 lakh crore, marking an 11% rise from the same period in the previous fiscal year.

VinodTK · Post by **VinodTK** » 01 Nov 2023 18:34

India Is a New Luxury Haven, With Skyrocketing Growth in Residents Worth $100 Million or More

bala · Post by **bala** » 01 Nov 2023 22:37

In Karnavati Talks, Dr. Ankit Shah talks about fundamental economics in "How global market forces will face de-globalisation and a financial reset".

Bharatiya Vichar Manch in collaboration with the Ahmedabad Management Association, hosted a Talk on the topic "How Global Market Forces Will Face De-globalization and a Financial Reset" on September 17, 2023, in Ahmedabad. Dr. Ankit Shah, a Ph.D. holder and author of the book "Geo-Politics - Decoding Intent, Narratives, Lies & Future," with a background in South Asian security and foreign policy, a chartered accountant, and a company secretary, was the keynote speaker.

Dr Ankit Shah takes us through single currency model the pound created by the Brits. It transitioned to the US as dollar after 2nd world war.

De-dollarization, de-colonialization and de-radicalization are on the cards and this will have profound impact on the state of the world as we know it today.

Some predictions from Dr. Ankit:
by 2030 companies will be scrambling to be in India and shift from China. China in the past 40 yrs has accumulated around 3-4 T, its CCP members for export have been fired. Global south is jostling to get India to co-opt them. The global companies will face a transition of "whites" on top to NRI on top (has already happened for some).

UAE will increasing adopt Sanatan Dharma and Saudi Arabia could become part of greater Israel. The temples of India are in a self sustaining economic cycle with festivals and thithis and nothing will stop it.

What about the Deep State. 97% are on the path of De-dollarization the rest 7% (Sorass is part of this) are concerned about "whites" will be replaced by NRI/Indian (Ambani, Adani, Tatas, etc) on top and the profit margins are being sqeezed by India's Sanatan Dharma concept that co-opts the Global South. The 97% are okay with India (though they have some concerns like the 7%), they are fine transitioning manufacturing, the MIC of the US to India and pocket the profits. Indians have to live with the beast called the deep state. We have to learn to ride the lion called the deep state. The deep state will ensure a rough ride and bring woke ideas.

dsreedhar · Post by **dsreedhar** » 02 Nov 2023 00:04

The noteworthy point from Ankit Shah's talk is - Capitalism need to be taught some dharma and Communism need be taught some karma

Overall interesting talk. He sounds as everything is going according to script.

Cyrano · Post by **Cyrano** » 02 Nov 2023 01:24

Those who do their karma and follow their Dharma don't need predictions. Ups and downs will always happen, the higher the rise the harder the fall. Our vision and endeavour should be for this century and the next 1000 years.

JTull · Post by **JTull** » 02 Nov 2023 01:33

I don't think this is the right thread for this kind of religion+economics+geopolitics discussion. Best to move it to another thread in Strategic Issues Forum.

drnayar · Post by **drnayar** » 04 Nov 2023 17:27

drnayar · Post by **drnayar** » 04 Nov 2023 17:30

https://www.world-nuclear-news.org/Arti ... n-landmark

India's fast breeder test reactor (FBTR) has reached its full 40 MWt design power level for the first time, more than 35 years since it first started operating. The test reactor, which has an underpinning role in India's preparation for a thorium-based closed fuel cycle, had previously been limited to 32 MWt.

vijayk · Post by **vijayk** » 07 Nov 2023 23:16

A_Gupta · Post by **A_Gupta** » 08 Nov 2023 09:45

https://pib.gov.in/PressReleasePage.aspx?PRID=1973396
"Combined Index of Eight Core Industries increases by 8.1% (provisional) in September 2023 over September 2022

Coal, Steel, Electricity, Natural Gas, Refinery Products, Cement and Fertilizers record positive growth in September 2023 over September 2022"

vijayk · Post by **vijayk** » 09 Nov 2023 19:52

Barclays commentary on "India's Breakout Moment"

vijayk · Post by **vijayk** » 09 Nov 2023 19:54

India's Adani group is emerging as the biggest resistance for Chinese ambitious belt and road project

Adani group is defeating China all over the world and now West also started to realize this

China is giving huge bribe to corrupt politicians, journalists to target Adani

bala · Post by **bala** » 10 Nov 2023 08:46

70 pc rural households provided tap water under jal jeevan mission

Seventy per cent rural households have been provided tap water connection till now under the Jal Jeevan Mission, according to official data. The government's flagship initiative -- launched in 2019 -- aims at providing safe and adequate drinking water through individual household tap connections to all households in in rural India by 2024.

Out of the 19,24,26,914 rural households in the country, as many as 13,47,50,894 households have been provided tap water connection till now, according to Jal Jeevan Mission data.

It stated that among the states and union territories, nine have 100 per cent coverage, 10 more than 75 per cent coverage, 11 more than 50 per cent coverage and four have below 50 per cent coverage. The Union Territory of Lakshadweep has the lowest tap water connection coverage at 32.36 per cent.

"The facility of tap water has reached 70 per cent of the families living in the villages of India. This is another unmatched achievement in the development of infrastructure in rural India," Jal Shakti Minister Gajendra Singh Shekhawat said.

Read more ..

// quite impressive; awaiting for 100% completion soon.

vijayk · Post by **vijayk** » 13 Nov 2023 21:28

vijayk · Post by **vijayk** » 13 Nov 2023 21:32

drnayar · Post by **drnayar** » 14 Nov 2023 01:09

vijayk wrote: ↑09 Nov 2023 19:54 India's Adani group is emerging as the biggest resistance for Chinese ambitious belt and road project

Adani group is defeating China all over the world and now West also started to realize this

China is giving huge bribe to corrupt politicians, journalists to target Adani

[img]https://pbs.twimg.com/media/F-d-HmaXMAA ... me=900x900[/img

Wont the Adanis have a conflict of interest with the Vizhinjam mega transshipment terminal that they own and which directly rivals Colombo port when fully functional ?!!! Gurus in the know could explain

KL Dubey · Post by **KL Dubey** » 14 Nov 2023 03:25

drnayar wrote: ↑14 Nov 2023 01:09 Wont the Adanis have a conflict of interest with the Vizhinjam mega transshipment terminal that they own and which directly rivals Colombo port when fully functional ?!!! Gurus in the know could explain [/u][/b]

It's not a zero sum game.

Economically - Adani has Vizhinjam and Haifa, and will increase capacity with Colombo. With Bharat's economic expansion, there will be a much larger demand for port facilities.

Strategically - it means Bharat is making inroads in Sri Lanka and slowly pushing the CCP out.

Adrija · Post by **Adrija** » 15 Nov 2023 12:32

We've spoken in the past for India to shift from "seeking sarkari naukri or even any naukri" to becoming more slef reliant and self-employed... well, another tick to naMo's credit

https://www.bqprime.com/nation/indias-u ... i-research

I honestly think we do not give adequate credit to Modi's economic management.. while the behaviour of the presstitutes can be understood (but not condoned) we need to make up the slack

Some of the decisions made by the Modi government are truly revolutionary and far-sighted and the imapct of those will be become increasingly visible as the years go by...we are blessed to have him as our PM in any time, and even more so in today's challenging times

A_Gupta · Post by **A_Gupta** » 18 Nov 2023 06:00

Dire predictions for Vizhinjam port:
https://www.onmanorama.com/news/kerala/ ... t.amp.html

Aditya_V · Post by **Aditya_V** » 18 Nov 2023 08:52

That report is hit job, quoting Ramachandra Guha as an economic expert, the BIF forces fear economic development. They love Indian people to be in poverty and as good sheep. The poet will be well connected to 2 new Indian railways, it will cause loss to both Colombo and Singapore.

A_Gupta · Post by **A_Gupta** » 18 Nov 2023 15:04

Where the report producing panel came from:
https://web.archive.org/web/20221031163 ... 078759.ece

THIRUVANANTHAPURAM OCTOBER 31, 2022

Appointment of seven-member panel, which will study the environmental and livelihood impact of the project, came after the action council expressed dissatisfaction with the limited mandate of expert committee formed by the State government

The seven-member panel appointed by the Latin Archdiocese-led action council to study the impact of the multi-crore Vizhinjam seaport project on the environment and livelihood of the coastal community is expected to submit its report in three months.

The action council is leading the ongoing stir against the Vizhinjam seaport.

The Janakeeya Padana Samithi (JPS) will carry out the study and submit its report in three months’ time, action council general convener Monsignor Eugene Pereira said on Monday.

The JPS is chaired by K. V. Thomas, former dean, Kerala University of Fisheries and Ocean Studies. It has as its members John Kurien, former professor, Centre for Development Studies; Terry Machado, former scientist, Centre for Earth Science Studies; K. G. Thara, former head of faculty, Institute of Land and Disaster Management; former District and Sessions Judge (Ernakulam) D. Pappachan; Probir Banerjee of PondyCAN, Puducherry, and Saritha Fernandez, an independent researcher.

The dissenting report, which could not stick to its schedule, complains that the port is not on schedule.

https://gighio.com/news/kerala/2023/11/ ... -2024.html
"Vizhinjam Seaport will not be operational even by 2025. An independent study says why."

drnayar · Post by **drnayar** » 18 Nov 2023 16:32

KL Dubey wrote: ↑14 Nov 2023 03:25
drnayar wrote: ↑14 Nov 2023 01:09 Wont the Adanis have a conflict of interest with the Vizhinjam mega transshipment terminal that they own and which directly rivals Colombo port when fully functional ?!!! Gurus in the know could explain [/u][/b]
It's not a zero sum game.

Economically - Adani has Vizhinjam and Haifa, and will increase capacity with Colombo. With Bharat's economic expansion, there will be a much larger demand for port facilities.

Strategically - it means Bharat is making inroads in Sri Lanka and slowly pushing the CCP out.

At its full potential, the Vizhinjam transhipment port can easily rival Colombo and the Great Nicobar transshipment terminal looks like a dream plan connecting the ocean lanes of east and west of India. Drawing Sri Lanka into an economic hold. Two giant trans-shipment ports east and west of India and connecting the Colombo port as a transit lane.

JTull · Post by **JTull** » 19 Nov 2023 01:18

Link gives example of how Chinese carriers are blocking Indian exports due to lack of transhipment port within India.

https://youtu.be/_2-JIfqStOc?si=4ELuRxE0v_i7w-xk

fanne · Post by **fanne** » 19 Nov 2023 15:54

Let me be the first to post we are a 4 trillion economy as of today (nominal). Number 4th and 3rd are in very striking distance.
While our economy grows theirs is at best stable or at worst shrinking. Most likely we will cross them way before projected data, perhaps by 2025.

drnayar · Post by **drnayar** » 19 Nov 2023 18:19

India will surpass both Japan and Germany in a ~~couple of~~ year !! .. CongraTS Team Bharat !!

sanman · Post by **sanman** » 20 Nov 2023 00:14

Indian Economy Hits $4Trillion

https://www.youtube.com/watch?v=nWQ8FrFAu2A

Raja · Post by **Raja** » 20 Nov 2023 21:44

Unfortunately, seems to be fake news according to Bloomberg.

sanman · Post by **sanman** » 21 Nov 2023 06:59

Not $4 Trillion Economy Yet

https://www.youtube.com/watch?v=H8UOfiI6jRw

bala · Post by **bala** » 23 Nov 2023 03:04

PM Narendra Modi’s make-in-India (with logo of majestic lion with rotating gears and wheels) initiative that was launched in 2014 with the vision of transforming India into a global manufacturing hub, has become a resounding success story. The aim of the super ambitious exercise was clear, to turn India into a manufacturing hub, ‘aatmanirbhar’ for its own needs and for what the world wanted. ‘Make In India’ scheme which is in its tenth year and 9 years later, ‘Make in India’ has garnered immense traction, attracting a surge of foreign direct investment and is propelling India’s manufacturing sector to new heights. Under the ‘Make In India’ program, the government has eased the process of doing business and streamlined regulations, creating a conducive environment for manufacturing. As a result, India is no longer just a big market for global companies, but a nation satisfying the global hunger for merchandise and services.

Some key points:
1. Indian Patent system has been improved and is on par with US and Japan in turn-around time.
2. PLI scheme has taken off, manufacturing is propped up by these schemes
3. Infrastructure development are on track and work is happening at a rapid pace
4. Mobile sector especially 5G is totally indigenous and manufacturing of phones is mostly in India. $11B is telecom export number.
5. Vehicle manufacture and exports are growing rapidly. Indian vehicle are exported all around the world. Africa is getting good quality 2-wheelers at a reasonable price.
6. 110,000 start ups are working on next generation products.

Amitabh Kant being interviewed by Siddharth Zarabi..

https://www.youtube.com/watch?v=0_WzKZB1R6g

Conclusions: in general a positive development for India and jobs are going to be added for the next 10, 20, 30 yrs. India is going up the value chain and soon will be supplier to the world of a variety of good quality goods at reasonable prices (due to frugal engineering practices).

sanman · Post by **sanman** » 23 Nov 2023 12:11

Amitabh Kant On How PM Modi’s ‘Make in India’ Has Taken Off

https://www.youtube.com/watch?v=0_WzKZB1R6g

Prem Kumar · Post by **Prem Kumar** » 23 Nov 2023 14:06

One nitpick on Patents. Yes, we have improved by leaps & bounds. But the # of patents that we can grant in a year + the waiting time is still not upto par with China or the US. But the Govt is aware of this and working to get there

https://swarajyamag.com/news-brief/from ... -ecosystem

A_Gupta · Post by **A_Gupta** » 25 Nov 2023 19:51

Contrary to Ashoka Mody and Arvind Subramaniam the method of computing India’s GDP is ok, but the collection of data is suspect. In particular the surveys that estimate the unorganized sector, and the consumption patterns and basket of goods for the price indices are badly out of date. Lastly, GDP growth is only one part of an estimate of national welfare.

https://youtu.be/6lNkA_ZyRWI?si=uEgkuahgzri0EImy