Indian Economy

As we had often come back to discussing economic benefits/impact of sports I thought it was about time for an economic discussion forum.
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kujo
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Re: Indian Economy

Postby kujo » Thu Sep 06, 2012 4:53 am

World Bank Appoints Chief Economist From India
The World Bank on Wednesday named Kaushik Basu, an Indian national who previously advised the Indian government, as its chief economist, placing a candidate from an emerging market country in a key position at the global development lender.

Another Basu and another economist! :)

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Re: Indian Economy

Postby jayakris » Thu Sep 06, 2012 5:53 am

They got the wrong Basu!! ... Jay

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Re: Indian Economy

Postby jaydeep » Thu Sep 06, 2012 7:15 am

Definitely the wrong Basu ... :)

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Re: Indian Economy

Postby arjun2761 » Thu Sep 06, 2012 7:03 pm

And one of my contemporaries at IITD (Raghuram Rajan) has taken Kaushik Basu's spot in India after having previously been the chief economist for the IMF -- so these two have mirror image careers...

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Re: Indian Economy

Postby Kumar » Sat Sep 22, 2012 1:37 am

What did you guys think about the recent govt. ruling about the FDI in retail?

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Re: Indian Economy

Postby sameerph » Sat Sep 22, 2012 4:32 am

I think it is good for both farmers & consumers . Perhaps, only affecting the traders but remains to be seen to what extent.

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Re: Indian Economy

Postby PKBasu » Wed Oct 17, 2012 3:26 pm

This is slightly shameless advertising by the other Basu, but in (what I hope you will agree is) a good cause. I welcome all friends and well-wishers of India to visit this site:

http://prasenjitkbasu.blogspot.sg/2011/ ... -term.html

Please feel free (in fact, I implore you) to comment on the agenda for the party in particular. All Indians of integrity (including NRIs and PIOs) are welcome to join, but most of all I need as many people as possible to comment on various blogs on the site -- comments both for and against are welcome. Democracy, of course, thrives on argument!

I start with the basic premise: Jodi tor daak shune keu na ashe, ekla cholo re ("if nobody heeds your call, march on alone"), which inspired Gandhiji (and eventually the nation).

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Sandeep
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Re: Indian Economy

Postby Sandeep » Thu Nov 15, 2012 6:42 am

Kumar wrote:What did you guys think about the recent govt. ruling about the FDI in retail?


In India people including some of the economists are looking at FDIs and rate cut from RBI as a magic pill than can solve all our woes. Sadly it is not so. India has got into a kind of muddle which no western country has ever seen. Traditional methods of growth or controlling Inflation will not work in India. We need some dynamic steps from our government and unfortunately UPA-II has been an utter failure in this respect. The government must dissolve and a fresh mandate is required, at this rate I see India reach abysmal depths from where it will take a long long time to get back to even 6% GDP growth rates. I have a feeling that Indian growth story will end prematurely! Frustrating to see India go this way.

In spite of government allowing FDI in retail and aviation there are not many takers. I think people abroad have to come to know the difficulty in doing business in India.

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Re: Indian Economy

Postby jayakris » Thu Nov 15, 2012 2:43 pm

I need a shot of optimism on this from PKB. Sandeep seems to have given up on India. Jay

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Re: Indian Economy

Postby prasen9 » Thu Nov 15, 2012 4:06 pm

What needs to be done? I would like them to cut the redtape and go for full liberalization with controls to stop monopolies and abusive practices.

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Re: Indian Economy

Postby Sandeep » Thu Nov 15, 2012 6:20 pm

jayakris wrote:I need a shot of optimism on this from PKB. Sandeep seems to have given up on India. Jay


Seriously, you got to be in India to understand it. It just baffles me to see people going after Subba Rao for the rate cut. It neither held up Indian economy nor it will help unless the lending rates in India from banks will probably come down to 5% levels which I think is impossible. The current lending rate for businesses is at 14%, bringing it down to 12% is not going to help much.

Think about it, telecom, mining, power, steel, cement, airline, textile industries are all struggling. Software and services are the only two industries which are going gangbusters while automobile is doing slightly better. Every other sector is nearing collapse and I am not kidding or exaggerating when I use the word collapse. The worst part, government has a major hand in killing these sectors. Manufacturing is at an all time low and I have heard many senior people say that they have never come across such a crisis in their lifetimes.

What explains this, food inflation at an all time high but farmer is only getting poorer. There are 30-40% people below poverty line who are struggling for basic amenities and industries are facing major labor shortage! How can these two go hand in hand? We are in a big time mess. Really big

There is a major power shortage through out the country with half the thermal power plants shutting down due to lack of coal, Andhra Pradesh (third biggest state by GDP) is facing an unprecedented 15 days power cut a month for Industries, Southern Tamil Nadu is facing almost 14 hours power cut a day and our center is mutedly looking at all the tamasha going on with respect to CAG report!!!

Supreme court has no business interfering with policy decisions. The day they started canceling spectrums and coal blocks is the time India's decline started. There is a policy paralysis now because of this.

Budget deficit of over 5.3% for a country growing at over 6%!!! It must be a joke, instead of the deficit coming down it is only ballooning.

India for sure is doomed unless we see a strong able prime minister at the helm. Sadly neither the Congress nor BJP has an answer. Cutting down rates and opening up markets is not the solution for India. The ease of doing business should be improved dramatically and foreigners should feel welcome, retrospective taxes on Vodaphone or canceling Telenor spectrums is not helping in anyway. Pathetic state of affairs

I will be pleasantly surprised if anyone can provide a positive twist to our economy and horrendous state of affairs.

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Re: Indian Economy

Postby prasen9 » Fri Nov 16, 2012 6:22 pm

Opening up the markets should go with removing red-tape too.

The RBIs shoring up the rupee is resulting in inflation staying high.

Is power a state issue or a central issue?

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Re: Indian Economy

Postby Sandeep » Fri Nov 16, 2012 7:58 pm

What else can RBI do with the Rupee? RBI has a very limited ammunition left at the moment. IMO they are doing a good job with whatever limited resources they have, it is time for government to step up and sadly it is not going to happen.

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Re: Indian Economy

Postby Sandeep » Thu Nov 29, 2012 5:13 am

Another mess up from India, our companies are importing Iron ore inspite of huge reserves in the country.

http://www.moneycontrol.com/news/curren ... tml#toptag

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Re: Indian Economy

Postby Atithee » Sat Dec 15, 2012 6:19 pm

I did not expect such a well written response to one more of the idiotic petitions. The Justice's examples may be questionable, but I think he did a good job responding.

http://www.ndtv.com/article/india/justi ... him-303556


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