Indian Economy News & Discussion - Nov 27 2017
Re: Indian Economy News & Discussion - Nov 27 2017
India to stop importing urea by 2025 end: Mandaviya
India will by the end of 2025 stop importing urea as a massive push for domestic manufacturing has helped bridge the gap between supply and demand, Chemicals and Fertilisers Minister Mansukh Mandaviya has said. In an interaction with PTI, the minister noted that the availability of fertilisers is very important for Indian agriculture.
He said the country has been using chemical fertilisers for the last 60-65 years to enhance crop production.
Now, Mandaviya said, the government is making efforts to promote alternate fertilisers like nano liquid urea and nano liquid di-ammonium phosphate (DAP).
"Use of alternate fertilisers is good for crops and soil health. We are promoting it," he said.
Asked about achieving self-sufficiency in urea production, Mandaviya said the Modi government has adopted a two-pronged strategy to end dependency on urea imports.
The minister highlighted that the government has revived four closed urea plants and is reviving one another factory.
He noted that India needs around 350 lakh tonnes of urea annually to meet domestic demand.
Mandaviya said the installed domestic production capacities have been increased to around 310 lakh tonne from 225 lakh tonne in 2014-15. "At present, the gap between annual domestic production and demand is around 40 lakh tonne," the minister said.
Mandaviya said the annual domestic production capacity of urea would reach around 325 lakh tonnes after the commissioning of the fifth plant and the target is to replace the use of 20-25 lakh tonne of conventional urea with nano liquid urea.
"Our agenda is very clear. By the end of 2025, Modiji will end the country's import dependency on urea," he said while asserting that the import bill of urea would become zero.
According to the government data, imports of urea fell to 75.8 lakh tonne in 2022-23 from 91.36 lakh tonne in the previous year. Urea imports stood at 98.28 lakh tonne in 2020-21, 91.23 lakh tonne in 2019-20 and 74.81 lakh tonne in 2018-19.
Mandaviya highlighted that the Modi government in the last 10 years has ensured an adequate supply of fertilisers for the agriculture sector. He said the Centre also protected Indian farmers from a sharp rise in prices of fertilisers in global markets by increasing the subsidy on key crop nutrients.
For 2024-25, the government has allocated a fertiliser subsidy of Rs 1.64 lakh crore as against the revised estimates of Rs 1.89 lakh crore for the 2023-24 fiscal. In 2022-23, the fertiliser subsidy had shot up to Rs 2.55 lakh crore.
Last month, Mandaviya had informed that India's conventional urea consumption is estimated to have declined 25 lakh tonne during the last fiscal on increase in demand of nano liquid urea and the government's efforts to discourage the use of chemical fertilisers.
Urea consumption stood at 357 lakh tonne during 2022-23. Cooperative organisation IFFCO had launched nano liquid urea a few years back. It has also provided technology to some other companies to set up nano urea plant.
A total of 7 crore nano urea bottles (of 500 ml each) have been sold during the August 2021 and February 2024 period. One bottle of nano urea is equivalent to one bag (45 kg) of conventional urea.
The government has also launched 'PM Programme for Restoration, Awareness, Nourishment and Amelioration of Mother Earth' (PM-PRANAM) scheme to incentivise states and Union Territories (UTs) to promote the usage of alternative fertilisers and balanced use of chemical fertilisers.
Under the Urea Subsidy Scheme (USS), urea is provided to the farmers at a statutorily notified Maximum Retail Price (MRP). The difference between the urea MRP and the production cost is being paid to manufacturers.
Besides, under the Nutrient Based Subsidy Policy, a fixed amount of subsidy is notified on an annual/semi-annual basis, which ensures availability of P&K (phosphatic and potassic) fertilizers at reasonable prices to farmers.
Urea is imported on a government account.
However, all P&K fertilisers (DAP, MOP and NPK) are covered under Open General License (OGL) under the Nutrient Based Subsidy (NBS) Scheme and they are imported by the fertilizer companies on commercially viable terms.
Re: Indian Economy News & Discussion - Nov 27 2017
https://www.financialexpress.com/policy ... y-3449681/
India’s engine of growth to be a $5 trillion economy
Let us explore the intricate relationship between India’s trillion-dollar aspirations and the education sector, analyzing the challenges and opportunities that lie ahead.
India’s engine of growth to be a $5 trillion economy
Let us explore the intricate relationship between India’s trillion-dollar aspirations and the education sector, analyzing the challenges and opportunities that lie ahead.
Re: Indian Economy News & Discussion - Nov 27 2017
https://www.newindianexpress.com/web-on ... owth-front
It's the economy, stupid: How the Modi, Manmohan and Vajpayee years compare on growth front
The inference we draw may seem puzzling to supporters of the UPA. They would point out that the GDP growth rates during the UPA years were higher than during the Modi years...
It's the economy, stupid: How the Modi, Manmohan and Vajpayee years compare on growth front
The inference we draw may seem puzzling to supporters of the UPA. They would point out that the GDP growth rates during the UPA years were higher than during the Modi years...
In 2004, India's per capita GDP was $635, while these countries had a per capita GDP of $1790. In other words, India's per capita GDP was about 35 percent of its peer group. But by 2014, this actually fell to 30 percent. This means that those other countries did better than India. During the UPA years, India actually became poorer compared to the rest of the developing world. This should end the idea that the economy did particularly well under the leadership of Dr Manmohan Singh.
How do the Modi years compare? From 30 percent in 2014, India increased this ratio to 37 percent in 2019 and further to 42 percent in 2024. India's per capita GDP now stands at $2850, compared to $6770 for its peers. There is still a long way to go. But in the Modi years, India has at least taken a big leap forward. Unlike the years between 2004 and 2014, when India was going backwards.
During the Vajpayee years, between 1998 and 2004, this ratio rose from 30 percent to 35 percent, before falling back to 30 percent at the end of UPA. Again, between 1991 and 1998, the ratio fell slightly from 31 percent to 30 percent. Whenever the Congress was in power, by itself or in the ruling mix, such as from 1991 to 1998, and from 2004 to 2014, India's economy lagged behind its peers. During the Vajpayee years and the Modi years, India moved ahead.
In 2004, India's economy was 37 percent the size of the Chinese economy. By 2014, it had shrunk to 19 percent. In relative terms, India's economic size had been cut in half during the UPA years. In 2024, it now stands at 22 percent. That is only slightly better. But at least the gap is no longer increasing.
The same story repeats with the rest of the BRIC countries. Between 2004 and 2014, China increased its GDP by 440 percent, Brazil by 267 percent, Russia by 223 percent, and India by only 182 percent. Same with per capita GDP growth, where India again comes in last among the BRIC. In 2004, India’s economy was bigger than Brazil or Russia. By 2014, both countries had crossed India in GDP rankings. Meanwhile, India remained stuck at almost the same position, rising just 1 place from 12th in 2004 to 11th in 2014.
In its final budget in 2014, the UPA set a target of 2043 for India to become the third largest economy in the world. That is not much of an ambition for a country of 1.4 billion people. Since 2014, India has grown faster than any other major economy, including China. Today India is fifth, and is expected to take the third position by 2029. That is a full 14 years ahead of the target set by the UPA government in 2014. Still a lot for India to do, but one step closer to fulfilling our potential.
Re: Indian Economy News & Discussion - Nov 27 2017
Hi folks,
Not a regular contributor mostly a reader of the forum. Sharing my observations on my recent visit to India after having stayed there (Chennai primarily) for a month. I had also done a bit of pilgrimage between TN and KA.
Please note that these are personal observations of mine and can't vouch for how much this is real and widespread. Make a trip to Chennai every two years and is always pleasantly surprising.
Improvements
1. Enormous Construction activity - of roads, buildings and other infra.
2. The Massive digitization, it is really amazing and the fact that India that did it is mind-boggling. If the government sets its mind on something it displays that it can achieve it no matter what.
3. Ideas - There is so many services being created that I have encountered is amazing. Like Swiggy doing the job of a courier and that too delivery the same day. And that's just one among several.
4. Trash - My neighbourhood is cleaner and trash regularly gets taken out and sanitary workers come and sweep the streets regularly. Sanitation is so much much much better. I can't really stress that enough because I know how bad it was growing up and hope this will get better.
5. Water & Electricity - Water supplied by the corporation via pipes is 24/7, last time, it was every alternate day and that too at a specific time for 2 hours. This again was insanely amazing to me because I still remember the time as a kid I had to run to the water tanker with buckets. I never saw electricity go down, I thought it might be the elections but was told it has been that way for a long time.
3. Wealth creation: When we left India, the house help ladies were POOR. My house help at the time lived in a tarpaulin hut. But every 2 years, noticed changes, like better sarees and more gold ornaments. This time overhearing a conversation between mom and her maid revealed that she just installed two split ac's in her 2 bed room residence and was able to put her grandson through college, I was like WOW! This is not a one-off thing, in one of the Kirana stores, the store assistant was mentioning to another store assistant how she was running out of space on her two fridges!
3A. Cars - The number of big cars, 2 years ago mostly small cars, but now SUV's and there's so many of them.
Areas for Improvements
1. Construction finish - With all the construction going on, wish somebody paid attention to the aesthetics and final finish of the construction. The walls on the various bridges are misaligned and expressway including on the Mysore BLR expressway. I guess, we will get it right over time. Chennai International airport has the feeling of a massive godown. Can TN pay some attention to better aesthetics apart from installing heritage items that the cholas perfected a 1000 years ago. Can't you bring in newer ideas that say Chennai is not just chola bronzes and Gopurams?
2. Sanitation and Trash - Yes things have improved, but still a long way to go.
3. Traffic and lane discipline - India is now building large highways and needs to educate drivers on safe driving practices. Otherwise it will be a big safety issue and it already is. Our hired driver for the pilgrimage came highly recommended but even he drove with hazard lights on! There is lack of proper signage on entries and exits to the big highways and express ways. In urban areas, people still drive insane. Not many improvements here.
4. Need better training for our builders (roads, homes), plumbers, electricians and other trades.
All-in-all, all people were saying that INDIA is on the right track and if she continues on the same track without major scams or scandals, we will be good. There is more money with people and wealth is being created on a massive scale than ever before. People across classes and castes are making money!
Also, in 2019 and 2022, Modi was such a reviled figure here in TN. 2024, I was driving past a village near Tindivanam (en route to Pondicherry) and there was a marriage flex with Modi blessing the couple
. This was previously unthinkable and that too in interior TN. No wonder, DMK is doing what it is doing. The election canvassing this time was very low key. All canvassing was done on TV. No autos blaring 24/7 or massive public meetings. A few here and a few there. Never thought i would witness an Indian election like this.
However, the downside to this are the older folk especially men, for example in my family and extended family, who are not happy with everyone making money and want to retain the status of the classes and caste. They are a danger to themselves and to Young India.
As an example, my father-in-law is a religious hindu and doesn't like BJP or Modi. He said "These BJP fellows only want Hinduism and not interested in the economy". I offered explanations as an outsider how the economy looked to me and finally said "Then as Hindus, we should vote for a party that represents us" and he countered "Hinduism (BJP's not his) will destroy caste". Irony - his other daughter married a brahmin and that couple is a card carrying BJP people. I'm still trying to wrap my head around what the man said.
We left India early 2014 thinking we will have a better life elsewhere seeing how well India (TN & KA) has done for itself on the ground makes me proud. I understand that parts of India are yet to catchup which I'm sure it will. I believe some older and possible young Indians living in India are not able to see the incremental changes happening which an outsider can see. I have seen the India of the 90's and early 00's and today's India is so much better on every measure.
Just count the people at the major traffic signals who used to probably beg. Most of them now carry a water bottle and a swiper! This is my observation from Chennai, TN & KA and hope this is reflective of other areas as well.
Not a regular contributor mostly a reader of the forum. Sharing my observations on my recent visit to India after having stayed there (Chennai primarily) for a month. I had also done a bit of pilgrimage between TN and KA.
Please note that these are personal observations of mine and can't vouch for how much this is real and widespread. Make a trip to Chennai every two years and is always pleasantly surprising.
Improvements
1. Enormous Construction activity - of roads, buildings and other infra.
2. The Massive digitization, it is really amazing and the fact that India that did it is mind-boggling. If the government sets its mind on something it displays that it can achieve it no matter what.
3. Ideas - There is so many services being created that I have encountered is amazing. Like Swiggy doing the job of a courier and that too delivery the same day. And that's just one among several.
4. Trash - My neighbourhood is cleaner and trash regularly gets taken out and sanitary workers come and sweep the streets regularly. Sanitation is so much much much better. I can't really stress that enough because I know how bad it was growing up and hope this will get better.
5. Water & Electricity - Water supplied by the corporation via pipes is 24/7, last time, it was every alternate day and that too at a specific time for 2 hours. This again was insanely amazing to me because I still remember the time as a kid I had to run to the water tanker with buckets. I never saw electricity go down, I thought it might be the elections but was told it has been that way for a long time.
3. Wealth creation: When we left India, the house help ladies were POOR. My house help at the time lived in a tarpaulin hut. But every 2 years, noticed changes, like better sarees and more gold ornaments. This time overhearing a conversation between mom and her maid revealed that she just installed two split ac's in her 2 bed room residence and was able to put her grandson through college, I was like WOW! This is not a one-off thing, in one of the Kirana stores, the store assistant was mentioning to another store assistant how she was running out of space on her two fridges!
3A. Cars - The number of big cars, 2 years ago mostly small cars, but now SUV's and there's so many of them.
Areas for Improvements
1. Construction finish - With all the construction going on, wish somebody paid attention to the aesthetics and final finish of the construction. The walls on the various bridges are misaligned and expressway including on the Mysore BLR expressway. I guess, we will get it right over time. Chennai International airport has the feeling of a massive godown. Can TN pay some attention to better aesthetics apart from installing heritage items that the cholas perfected a 1000 years ago. Can't you bring in newer ideas that say Chennai is not just chola bronzes and Gopurams?
2. Sanitation and Trash - Yes things have improved, but still a long way to go.
3. Traffic and lane discipline - India is now building large highways and needs to educate drivers on safe driving practices. Otherwise it will be a big safety issue and it already is. Our hired driver for the pilgrimage came highly recommended but even he drove with hazard lights on! There is lack of proper signage on entries and exits to the big highways and express ways. In urban areas, people still drive insane. Not many improvements here.
4. Need better training for our builders (roads, homes), plumbers, electricians and other trades.
All-in-all, all people were saying that INDIA is on the right track and if she continues on the same track without major scams or scandals, we will be good. There is more money with people and wealth is being created on a massive scale than ever before. People across classes and castes are making money!
Also, in 2019 and 2022, Modi was such a reviled figure here in TN. 2024, I was driving past a village near Tindivanam (en route to Pondicherry) and there was a marriage flex with Modi blessing the couple
. This was previously unthinkable and that too in interior TN. No wonder, DMK is doing what it is doing. The election canvassing this time was very low key. All canvassing was done on TV. No autos blaring 24/7 or massive public meetings. A few here and a few there. Never thought i would witness an Indian election like this.However, the downside to this are the older folk especially men, for example in my family and extended family, who are not happy with everyone making money and want to retain the status of the classes and caste. They are a danger to themselves and to Young India.
As an example, my father-in-law is a religious hindu and doesn't like BJP or Modi. He said "These BJP fellows only want Hinduism and not interested in the economy". I offered explanations as an outsider how the economy looked to me and finally said "Then as Hindus, we should vote for a party that represents us" and he countered "Hinduism (BJP's not his) will destroy caste". Irony - his other daughter married a brahmin and that couple is a card carrying BJP people. I'm still trying to wrap my head around what the man said.
We left India early 2014 thinking we will have a better life elsewhere seeing how well India (TN & KA) has done for itself on the ground makes me proud. I understand that parts of India are yet to catchup which I'm sure it will. I believe some older and possible young Indians living in India are not able to see the incremental changes happening which an outsider can see. I have seen the India of the 90's and early 00's and today's India is so much better on every measure.
Just count the people at the major traffic signals who used to probably beg. Most of them now carry a water bottle and a swiper! This is my observation from Chennai, TN & KA and hope this is reflective of other areas as well.
-
sanjaykumar
- BRF Oldie
- Posts: 6121
- Joined: 16 Oct 2005 05:51
Re: Indian Economy News & Discussion - Nov 27 2017
Fabulous and informative ground report. Very helpful to those of us who haven’t been to India in some time.
Re: Indian Economy News & Discussion - Nov 27 2017
Agree with everything in relation to economy , fit and finish, reducing poverty etc.
I visit India at least twice a year from Oz. Sometimes thrice. Infact reached yesterday for a quickie cheeky visit.
PUNE garbage issue is bad and no sign of getting better. Street Cleaners sweep every day. Sweep everything in a pile. Then they leave the pile there. During the day the pile disperses. Next morning voila they sweep yesterdays plus incremental delta into a new pile. And life goes on. The pile keeps growing day after day , week after week, month after month. Simply ridiculous.
While M has an excellent cabinet . State and municipality BJP units are mostly the same old. Any state uplifts seem to be due to central schemes.
Less said about traffic and suicidal and homicidal driving practices the better. Previously accidents happened at 40 kmoh now 40 kmph driving habits carried over to 120 or more kmoh are terribly ugly. And no signs anyone , gobarmint or drivers want to make it better. Who cares about fatality statistics when concrete road record statistics are brung created. A few more dead are, well simply a statistic.
Usinng hazard lights seems to be the pinnacle of driving competency. Bad drivers pass on bad practices to next generation of drivers. It seems as long a hazard lights are on anything goes.
I visit India at least twice a year from Oz. Sometimes thrice. Infact reached yesterday for a quickie cheeky visit.
PUNE garbage issue is bad and no sign of getting better. Street Cleaners sweep every day. Sweep everything in a pile. Then they leave the pile there. During the day the pile disperses. Next morning voila they sweep yesterdays plus incremental delta into a new pile. And life goes on. The pile keeps growing day after day , week after week, month after month. Simply ridiculous.
While M has an excellent cabinet . State and municipality BJP units are mostly the same old. Any state uplifts seem to be due to central schemes.
Less said about traffic and suicidal and homicidal driving practices the better. Previously accidents happened at 40 kmoh now 40 kmph driving habits carried over to 120 or more kmoh are terribly ugly. And no signs anyone , gobarmint or drivers want to make it better. Who cares about fatality statistics when concrete road record statistics are brung created. A few more dead are, well simply a statistic.
Usinng hazard lights seems to be the pinnacle of driving competency. Bad drivers pass on bad practices to next generation of drivers. It seems as long a hazard lights are on anything goes.
Re: Indian Economy News & Discussion - Nov 27 2017
The Indian Express
https://archive.ph/NADIz
For its next phase of growth, India needs a new reform agenda
https://archive.ph/NADIz
For its next phase of growth, India needs a new reform agenda
Re: Indian Economy News & Discussion - Nov 27 2017
https://www.bbc.com/worklife/article/20 ... innovation
Formula E: The world's fastest electric vehicles could spark widespread innovation
India needs its own races for competitive spirit
Formula E: The world's fastest electric vehicles could spark widespread innovation
India needs its own races for competitive spirit
Re: Indian Economy News & Discussion - Nov 27 2017
Agree with all your points and i noted the same things in the Modi 3.0 wishlist thread.rahulm wrote: ↑27 Apr 2024 06:25 Agree with everything in relation to economy , fit and finish, reducing poverty etc.
I visit India at least twice a year from Oz. Sometimes thrice. Infact reached yesterday for a quickie cheeky visit.
PUNE garbage issue is bad and no sign of getting better. Street Cleaners sweep every day. Sweep everything in a pile. Then they leave the pile there. During the day the pile disperses. Next morning voila they sweep yesterdays plus incremental delta into a new pile. And life goes on. The pile keeps growing day after day , week after week, month after month. Simply ridiculous.
While M has an excellent cabinet . State and municipality BJP units are mostly the same old. Any state uplifts seem to be due to central schemes.
Less said about traffic and suicidal and homicidal driving practices the better. Previously accidents happened at 40 kmoh now 40 kmph driving habits carried over to 120 or more kmoh are terribly ugly. And no signs anyone , gobarmint or drivers want to make it better. Who cares about fatality statistics when concrete road record statistics are brung created. A few more dead are, well simply a statistic.
Usinng hazard lights seems to be the pinnacle of driving competency. Bad drivers pass on bad practices to next generation of drivers. It seems as long a hazard lights are on anything goes.
Its these things imo that are really keeping Indians from having a comparable quality of life to the East Asian or European nations , There is no GDP # whether its 5T or 10T or if we're the 3rd largest that all these things magically come in to place . it will take a lot of effective local administration and my main worry is that (currently) we simply don't seem capable of that. The success of Jal Jeevan has given me hope on other such schemes but the admin and rule enforcing part is still missing