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Indian economy may contract 25% in current fiscal: Economist Arun Kumar

beijingwalker

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Indian economy may contract 25% in current fiscal: Economist Arun Kumar
Updated: 17 Jan 2021, 02:27 PM ISTPTI
Economist Arun Kumar said that due to a big decline in the GDP during the current financial year, the budget estimates have gone completely out of gear and, therefore, there is a need to correct the Budget

NEW DELHI : The Indian economy is not recovering as fast as the government claims and the country's economy may contract 25% in the current financial year, noted economist Arun Kumar said on Sunday.

Kumar further said that due to a big decline in the GDP during the current financial year, the budget estimates have gone completely out of gear and, therefore, there is a need to correct the Budget.


 

beijingwalker

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India's GDP will soon end up just one seventh of China's, it can forget about 5 trillion dream, it'll be lucky if it can hold on to 2 trillion.
 

GiantPanda

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They seem to have lots of money for imported weapons! Even their "indigenous" stuff like the LCA and Dhruv are composed mainly of imported parts.

They will skimp on things like toilets, healthcare and education to pay for them as always.
 

KurtisBrian

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India given nothing result people have not changed. China given technology, factories, hundreds of billions in FDI result China is now aggressive and angry. War mongering Germany and Japan, with their rapid expansions, were similar to China NOT India. We know what happened to Germany, Japan and huge numbers of their male citizens.
 

Ali_Baba

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What does that make it overall? SInce we have seen drops in Q2, Q3, Q4 in 2020. Is this 25% drop for Q1 2021 ?

I am looking forward to the "western" world in bringing back all those outsourced IT jobs back to their economies to overcome the ravages of covid once all this is over and done with.

India has failed to checkmate china which is what she was meant to do with the west building up India and what the last 30 years of IT investment and outsourcing of middle class jobs to India was all about. They need to go back to the drawing board, and think of a new plan, maybe challenge China directly, versus proxy via India which has failed..

The whole IT industry is based on computer, data connections and a telephone line.. Now, with remote working a proven concept that is viable from Covid, those jobs can be move relocated to low income areas in the UK, USA etc with minor increments in cost, given the month work man rate most projects have to pay for, for resources in India ..
 
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beijingwalker

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India given nothing result people have not changed. China given technology, factories, hundreds of billions in FDI result China is now aggressive and angry. War mongering Germany and Japan, with their rapid expansions, were similar to China NOT India. We know what happened to Germany, Japan and huge numbers of their male citizens.
War Mongering..

Jimmy Carter: US 'Most Warlike Nation in History of the World'
Former president says peaceful China 'ahead of us in almost every way.'

by Brett Wilkins





Most countries surveyed in a 2013 WIN/Gallup poll identified the United States as the greatest threat to world peace. (Photo: CD/CC BY 2.0)

The only US president to complete his term without war, military attack or occupation has called the United States “the most warlike nation in the history of the world.”

During his regular Sunday school lesson at Maranatha Baptist Church in his hometown of Plains, Georgia, Jimmy Carter revealed that he had recently spoken with President Donald Trump about China. Carter, 94, said Trump was worried about China’s growing economy and expressed concern that “China is getting ahead of us.”

Carter, who normalized diplomatic relations between Washington and Beijing in 1979, said he told Trump that much of China’s success was due to its peaceful foreign policy.

Carter then referred to the US as “the most warlike nation in the history of the world,” a result, he said, of the US forcing other countries to “adopt our American principles.”

“Since 1979, do you know how many times China has been at war with anybody?” Carter asked. “None, and we have stayed at war.” While it is true that China’s last major war—an invasion of Vietnam—occurred in 1979, its People’s Liberation Army pounded border regions of Vietnam with artillery and its navy battled its Vietnamese counterpart in the 1980s. Since then, however, China has been at peace with its neighbors and the world.

Carter then said the US has been at peace for only 16 of its 242 years as a nation. Counting wars, military attacks and military occupations, there have actually only been five years of peace in US history—1976, the last year of the Gerald Ford administration and 1977-80, the entirety of Carter’s presidency. Carter then referred to the US as “the most warlike nation in the history of the world,” a result, he said, of the US forcing other countries to “adopt our American principles.”

China’s peace dividend has allowed and enhanced its economic growth, Carter said. “How many miles of high-speed railroad do we have in this country?” he asked. China has around 18,000 miles (29,000 km) of high speed rail lines while the US has “wasted, I think, $3 trillion” on military spending. According to a November 2018 study by Brown University’s Watson Institute of International and Public Affairs, the US has spent $5.9 trillion waging war in Iraq, Syria, Afghanistan, Pakistan and other nations since 2001.

“It’s more than you can imagine,” Carter said of US war spending. “China has not wasted a single penny on war, and that’s why they’re ahead of us. In almost every way.”

“And I think the difference is if you take $3 trillion and put it in American infrastructure you’d probably have $2 trillion leftover,” Carter told his congregation. “We’d have high-speed railroad. We’d have bridges that aren’t collapsing, we’d have roads that are maintained properly. Our education system would be as good as that of say South Korea or Hong Kong.”

The US has also invaded or bombed dozens of countries and supported nearly every single right wing dictatorship in the world since the end of World War II.

While there is a prevalent belief in the United States that the country almost always wages war for noble purposes and in defense of freedom, global public opinion and facts paint a very different picture. Most countries surveyed in a 2013 WIN/Gallup poll identified the United States as the greatest threat to world peace, and a 2017 Pew Research poll found that a record number of people in 30 surveyed nations viewed US power and influence as a “major threat.”

The US has also invaded or bombed dozens of countries and supported nearly every single right wing dictatorship in the world since the end of World War II. It has overthrown or attempted to overthrow dozens of foreign governments since 1949 and has actively sought to crush nearly every single people’s liberation movement over that same period. It has also meddled in scores of elections, in countries that are allies and adversaries alike.

https://www.commondreams.org/views/2019/04/18/jimmy-carter-us-most-warlike-nation-history-world
 

KaiserX

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I gaurantee that Indias economy is headed in the sub-1 trillion range. I called TSLA at 3000 on this forum when it was ONLY 700 before it was split 5-1 (3500 today).

There is literally no demand in Indias economy. Most large/medium corporation where built on debt, that they are unable to pay back now due to the lack of sales. Many banks have more none-performing loans than loans they make money on. Its a whole house of cards that when it crashes to the ground will utterly devastate the lives of 1+ billion people.

Think of it, most Indian stocks are trading a P/E that is way ahead of the average for the region. THis was built on the assumption of continued 8% growth. Yet this year the Indian economy will contract 25% and Next year there wont even be a full recovery because indias problem is not just the failed covid lockdown but its very core. Which is a lack of supply and income as well as the inability to pay back debt.
 

CIA Mole

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I gaurantee that Indias economy is headed in the sub-1 trillion range. I called TSLA at 3000 on this forum when it was ONLY 700 before it was split 5-1 (3500 today).

There is literally no demand in Indias economy. Most large/medium corporation where built on debt, that they are unable to pay back now due to the lack of sales. Many banks have more none-performing loans than loans they make money on. Its a whole house of cards that when it crashes to the ground will utterly devastate the lives of 1+ billion people.

Think of it, most Indian stocks are trading a P/E that is way ahead of the average for the region. THis was built on the assumption of continued 8% growth. Yet this year the Indian economy will contract 25% and Next year there wont even be a full recovery because indias problem is not just the failed covid lockdown but its very core. Which is a lack of supply and income as well as the inability to pay back debt.

I hope they go zimbabwe route
 

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