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  • Category: Miscellaneous

    India’s economy is set to grow @7.3% this year # International Monetary Fund

    The reason being concern to the important reforms implemented during the recent past such as the "Goods & Services Tax" & steps to liberalize foreign investment & make it easier to do business will boost the country's growth. So far & in the Indian politics & even by the previous PM & the FM of the Congress regime this has been criticized to the maximum possible extent that the current President of the Congress party has repetitively referred it as "Gabbar Singh Tax". The good thing is that the reforms & the actions of the Modi led NDA government is now showing us the positive impacts which we had missed in the earlier times.

    Do we still have to criticize this government for their effort?
  • #650337
    Yes, I have read a report in this regard. IMF has forecasted India's growth rate would surpass China. But, quite naturally, most of the people are silent in this regard.
    Beware! I question everything and everybody.

  • #650338
    USA did 4.5% growth rate recently with $ 20 trillion and India is set to 7.5% only with only $2.2 or $2.5 trillion. You can yourself understand who is doing better? Also India unemployment is increased to 8% where as USA did unemployment rate is least in past 50 years.
    May cheers time for a moment for us if India do 8 %.

  • #650339
    #650338 / Rahul, it wouldn't be fair enough to compare the economy of our country to that of USA economy because the economy of USA is far ahead in comparison to ours which is still a developing one & therefore even a small increase in the USA economy would result in big fortunes but in case of our country the impact wouldn't be that much. Size matters.

  • #650340
    It is good that the actions taken by the government is going to show result. We should say that Modi and his government has done a good job in this respect. I agree with the author that our economy should not be compared with that of USA.
    drrao
    always confident

  • #650342
    I think that 7.3 is an impressive number and definitely the efforts of Govt are bringing results.

    It is natural that those politicians and leaders who have not got place in the present Govt will always criticise the policies as they have to somehow convince the gullible public that nothing is going on well.

    The educated and serious people are seeing the difference in many areas and slowly things may improve further. What we have seen in the recent times is that the digitization of processes is helping in improving the governance in all the areas. The problem is coming, where the corrupt interface of people in power and having beaurocratic authority, is coming In the way of our tasks.

    Anyway the figures are telling by themselves the efforts that some of the leaders in present Govt have made in developing the country.

    Knowledge is power.

  • #650359
    Mr. Rahul doesn't find the projected growth rate of 7.3% impressive. Fair enough! The fourth largest economy of the world growing at the rate of 7.3% p.a. is not good. But what about India's 'Hindu rate of growth' (not my comment-but the comment of eminent economists) during the 50s to the 80s? Needless to state that at that time, the size of India's economy was much smaller than that of today.
    Beware! I question everything and everybody.

  • #650360
    Indian economy is growing and I read somewhere today that if it increases with this pace we will move up from China which is great. Opposition leaders always criticise the government its very normal.
    Sanjeev

    " It is better to be hated for what you are than to be loved for what you are not" ... Andre Gide

  • #650369
    What makes you think that the IMF (International Monetary Fund) is an honest agency?

    Do you know that they support any country ruler who is favorable to the US and European corporations right from the time of their creation? They act like the Finance Ministry of member countries, dictating terms even to the willful damage of the developing countries to push them into the debt trap, screw up their development, promote globalization wherein countries such as USA, UK, France … all the usual bully nations profit and lord it over others and steal the sovereignty of countries?

    It is very much like the oil prices are dictated by some global groups and institutions, and our government has NO control on the pricing, except to make some cosmetic tweaks.

    We need to find other indicators to know the economic status of our country than basing it on IMF (or World Bank or others) who are all as straight as a dog's back leg in their integrity.

    Did anyone want to question this IMF camel? (Camel as in 'strain at a gnat and swallow a whole camel').

  • #650380
    As i compared to USA. We can take example of states like Bihar with Tamil nadu, Maharashtra . Bihar may have more growth rate as compared to TN and MH but do you think it is able to fulfill the needs of people, because of massive population? So, India may have growth rate 7% + but it will not be able to feed and fulfill peoples aspiration well. Where as USA has very less population. India needs 10% growth rate to do well.
    If people claim that GST is giving results in the economy, i don't agree because India was growing consistently over 8% in the period of Mr Manmohan singh, who was big economist. Actually GST created more trouble to small businesses.

    Also IMF is agency with members which have voting shares. Top English speaking countries have voting share more than 45%.

  • #650383
    The GST has simplified the tax structure with replacing eighteen different types of taxes including the Octroi duty which required entering any metropolitan cities like the Mumbai then whether this has created the vast opportunities for establishments or have resulted into their shut down? Can't we understand this simple thing?

  • #650386
    This is only a projection given by IMF. But this projection is strongly supported by the available data on the growth rate during the last quarter and last six months. I don't see any reason to contradict the view/projection of IMF in this regard.

    There may be some people who are deeply disturbed by this positive projection of India's financial condition. Quite natural because this projection contradicts these people's doomsday prediction.

    Beware! I question everything and everybody.


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