Also, Gujarat's Vikas(Development) Gone Crazy campaign is very interesting.
BawliBooch wrote:Propaganda can only do so much. Truth eventually does come out....
The success that campaign has found is not surprising for journalists working on the ground. ...
What I am worried about: Mr.Modi when cornered can do what he has always done when stuck in a similar situation. That is, ratchet up Hindu-Muslim-Christian issues and trigger a riot, then use the communal polarisation to sweep the elections. Thats how he won 2002 state elections. We might see that on a national scale now. .
BawliBooch wrote:Another worry - the fascist RSS that forms the backbone of the ruling BJP might just replace Modi with an even bigger fanatic waiting in the wings. Yogi Adityanath is fast emerging as the alternative.
dtw2hyd wrote:CNN covering this story
http://money.cnn.com/2017/10/04/news/ec ... index.html
I guess Modi need to upgrade apco subscription plan.
BawliBooch wrote:The rumor is APCO Worldwide has now switched sides.
BawliBooch wrote:Another rumor doing the rounds the past week: Big "demonetisation type announcement" (on TV ofcourse) to suddenly impose alcohol prohibition across India. Amit Shah just abandoned his campaign in a state and flew down to Delhi in advance of what is said to a huge announcement. Bhakts should love this!
dtw2hyd wrote:Is there a bankruptcy law like our chapter 11 in India? Cannot figure out if it is already in place from news reports.
How did public sector bank bad debts jump from 2.5 lakh crores to 12.5 lakh crores in 3 years?
dtw2hyd wrote:How did BJP win UP elections? My money is on farm loan waivers.
dtw2hyd wrote:It appears Modi wants to use federal spending only on
a) Fancy projects benefit Gujarat
b) Improve his own image
c) Help BJP win a particular election
Many useful projects are rejected because they don't meet this criterion.
dtw2hyd wrote:Read even Tatas have $25B debt.
BawliBooch wrote:I can guarantee that Adani and his crooked son will be on a private plane to Kenya or Timbuctou before the election results are announced.
dtw2hyd wrote:It appears GST killed the Diwali shopping spree. If GST replaced 27 different existing taxes, how would it matter? Sure the rates may not match exactly, but the difference shouldn't be huge, correct?
Saw a cartoon claiming, now it is cheaper to attach a plough to Audi, than buying a farm tractor.
BawliBooch wrote:The whole point behind GST as conceived by Manmohan Singh was to have a simplified tax structure with a flat 18% structure across the country cutting down state taxes while at the same time ensuring states with an industrial base are not penalized for their performance. This would have simplified the flow of goods & services across state lines and boosted the economy. Ironically Modi opposed that version of the GST when he was Chief Minister.
The version of the GST he bought in now has complicated the structure manifold with 30 levels and multiple sub-levels of taxes while at the same time penalizing "performing" states and rewarding the underperforming states. Many Small & Medium enterprises (SME's) are finding it impossible to file GST returns once a day and simply choosing to shut down. Meanwhile states which across 60 years nurtured their industrial base are finding themselves shortchanged. Maharashtra & Tamil Nadu are the biggest loosers as their share of taxes has gone down while the "cow-belt" states with few industries are getting a windfall as always.
Out of every 100 rupees given by Maharashtra to Delhi, it gets back just 42 Rupees, while TN gets back just 38! The tiny state of Kerala, the highest contributor of Forex remittances, gets back just 18 rupees out of 100! Meanwhile Uttar Pradesh gets 220 rupees from delhi for every 100 rupees, while Bihar gets a whopping 390 for every 100! This situation is simply not going to be tenable.
The positive thing that has come out of this mess: India has found its voice! Something I never thought would happen. The gross incompetence displayed by Modi & Co has unleashed a wave of resentment and people are fighting back. I was on the ground in Gujarat last week and was shocked to see the level of support opposition leader Rahul Gandhi received in that state: long regarded as a fortress of the Hindu fascists. Hardcore Modi bhakts are now openly deriding the great leader on Social Media - something that would have been unimaginable 2 months back. People are fighting back.
dtw2hyd wrote:I am surprised to know Finance Minister has time to decide the tax bracket for salty snacks but doesn't have time to major issues.
dtw2hyd wrote:By any chance do you know how much TS and AP are getting back for their 100 rupees? Curious because BJP keeps saying TS got 190,000 crores and AP got 250,000 crores, whereas state governments say they got less than 10,000 crores.
Isn’t it time the South received it's due?
After all, 20% of the population contributes a full 30% of India's tax revenues. This is the money that runs the country.
The South also delivers a fourth of India's GDP. It is not only an economic bellwether with low unemployment, a high rate of industrialisation and a per capita GDP that is over double that of the Hindi belt, it is also leaps ahead on human development and social indicators.
Child development indices are double to 7 times higher than the Hindi states, literacy rates tend towards an average of 80% with a 10-point difference against the North, and accessibility to health and hygiene facilities is radically better.
The gulf in human development is so stark that while fertility rates in the South are closer to that of Western Europe, much of the North is still getting their act together on basic issues like birthing babies without losing mothers.
The bottom line is that the development politics of the South has made it economically comparable to Hong Kong, while the atavistic politics of the North has dropped it far down the scales in the last six decades.
Like a Shakespearean drama though, the heroes with higher state GDP per capita, that is, Net State GDP per person, receive a lower devolution from centre to state, of state revenues. The South is effectively slammed for having scaled up its per capita incomes to the top 10 in India and scaled down poverty to half that of the rest of India.
frmrCapCadet wrote:I would like to follow India economics. Probably once or twice a month reading upwards of 2 hours. Anyone have a suggestion as to the best on-line resource. Much of what I just read on this thread has not been covered by the sources I currently read (which are, at least by conventional wisdom the best in the world. ps. I am not surprised).
frmrCapCadet wrote:I did read most of what Modi has done, but not the impact of it on the economy.
frmrCapCadet wrote:New to me is the success of the Southern States, although I do have some semi-inside information.
India's economy will likely grow at its slowest pace in four years this fiscal year, a Reuters poll showed, as a currency ban and the new goods and services tax (GST) have disrupted business activity and dampened consumer demand.
Asia's third-largest economy will grow at 6.7 percent in the fiscal year ending March 2018, the slowest since the new methodology of measuring gross domestic product (GDP) was introduced in the 2014-15 fiscal year.
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