Aiming to take India's growth beyond 8 per cent: PM Narendra Modi

[ito]

NAIROBI: Prime Minister Narendra Modi on Sunday asserted that he is aiming to take India's growth to beyond 8 per cent while commending the people of Indian origin in Kenya for maintaining their Indian culture and tradition.

"At a time when the world is going through an economic downturn, India is the only bright spot," Modi said in his trademark diaspora rally at the Kasarani Stadium here soon after arriving from Tanzania on the fourth and final leg of his four-nation African tour. ..

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

 

[Sipahi]

That sort of ??

http://qz.com/610767/indias-gdp-num...t-its-central-bank-is-now-doing-its-own-math/

 

[ito]

That sort of ??

http://qz.com/610767/indias-gdp-num...t-its-central-bank-is-now-doing-its-own-math/

People said the same thing about Chinese statistics, but eventually China was growing.

There will always be detractors of any statistics because that is inherently quality of statistics.

 

[Raul_AD]

NAIROBI: Prime Minister Narendra Modi on Sunday asserted that he is aiming to take India's growth to beyond 8 per cent while commending the people of Indian origin in Kenya for maintaining their Indian culture and tradition.

"At a time when the world is going through an economic downturn, India is the only bright spot," Modi said in his trademark diaspora rally at the Kasarani Stadium here soon after arriving from Tanzania on the fourth and final leg of his four-nation African tour. ..

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

With Good Monsoon this will be an eventuality, thing to be watched is GST Bill. How Govt. musters it through Rajya Sabha. GST will push GDP further 1-1.5%.

 

[Tripoli]

NAIROBI: Prime Minister Narendra Modi on Sunday asserted that he is aiming to take India's growth to beyond 8 per cent while commending the people of Indian origin in Kenya for maintaining their Indian culture and tradition.

"At a time when the world is going through an economic downturn, India is the only bright spot," Modi said in his trademark diaspora rally at the Kasarani Stadium here soon after arriving from Tanzania on the fourth and final leg of his four-nation African tour. ..

Read more at:
http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

India's GDP Data Overstated: Morgan Stanley's Ruchir Sharma

New Delhi: Terming India's GDP number "overstated", Morgan Stanley chief global strategist Ruchir Sharma has called for more private investment for the economy to get back on track.

"I think India's GDP data is overstated," Mr Sharma told PTI.

Indian economy grew 7.9 per cent in the fourth quarter of 2015-16, taking the overall GDP expansion to a 5-year high of 7.6 per cent for the fiscal year.

Mr Sharma seemed fine with the overall investment in India, but "it has largely been supported by the government".

"The private sector investment is still not picking up in India," he noted, linking low sustainable inflation to "very high" level of investment.

The Reserve Bank of India's decision to bring inflation to 5 per cent this year, he said, is in line with emerging market economies' average.

"If you look at all successful economies of the world... China, Korea, Taiwan all grew very rapidly when their inflation rates were low."

"There is no economy which does well with high inflation rates. So, you know all miracle economies. In these countries, inflation rates were below emerging market economies' average," Mr Sharma noted.

Referring to Prime Minister Narendra Modi's Make in India initiative, Mr Sharma underscored the importance of market share gains because China is "low on exports and becoming more expensive, their wages have gone up a lot and countries that are benefiting are Vietnam, Bangladesh and Cambodia".

In the same breath, Mr Sharma cautioned that "we should keep our expectations in check".

"I have always said about India, this is a country which always disappoints the optimist and pessimist," he added.

According to Mr Sharma, higher FDI flows into India is "a very positive story".
http://profit.ndtv.com/news/economy...estment-morgan-stanleys-ruchir-sharma-1427498

 

[$@rJen]

Wow....now with the kashmiri threads are down...pakistanis are here

India's GDP Data Overstated: Morgan Stanley's Ruchir Sharma

New Delhi: Terming India's GDP number "overstated", Morgan Stanley chief global strategist Ruchir Sharma has called for more private investment for the economy to get back on track.

"I think India's GDP data is overstated," Mr Sharma told PTI.

Indian economy grew 7.9 per cent in the fourth quarter of 2015-16, taking the overall GDP expansion to a 5-year high of 7.6 per cent for the fiscal year.

Mr Sharma seemed fine with the overall investment in India, but "it has largely been supported by the government".

"The private sector investment is still not picking up in India," he noted, linking low sustainable inflation to "very high" level of investment.

The Reserve Bank of India's decision to bring inflation to 5 per cent this year, he said, is in line with emerging market economies' average.

"If you look at all successful economies of the world... China, Korea, Taiwan all grew very rapidly when their inflation rates were low."

"There is no economy which does well with high inflation rates. So, you know all miracle economies. In these countries, inflation rates were below emerging market economies' average," Mr Sharma noted.

Referring to Prime Minister Narendra Modi's Make in India initiative, Mr Sharma underscored the importance of market share gains because China is "low on exports and becoming more expensive, their wages have gone up a lot and countries that are benefiting are Vietnam, Bangladesh and Cambodia".

In the same breath, Mr Sharma cautioned that "we should keep our expectations in check".

"I have always said about India, this is a country which always disappoints the optimist and pessimist," he added.

According to Mr Sharma, higher FDI flows into India is "a very positive story".
http://profit.ndtv.com/news/economy...estment-morgan-stanleys-ruchir-sharma-1427498

 

[Nilgiri]

India's GDP Data Overstated: Morgan Stanley's Ruchir Sharma

New Delhi: Terming India's GDP number "overstated", Morgan Stanley chief global strategist Ruchir Sharma has called for more private investment for the economy to get back on track.

"I think India's GDP data is overstated," Mr Sharma told PTI.

Indian economy grew 7.9 per cent in the fourth quarter of 2015-16, taking the overall GDP expansion to a 5-year high of 7.6 per cent for the fiscal year.

Mr Sharma seemed fine with the overall investment in India, but "it has largely been supported by the government".

"The private sector investment is still not picking up in India," he noted, linking low sustainable inflation to "very high" level of investment.

The Reserve Bank of India's decision to bring inflation to 5 per cent this year, he said, is in line with emerging market economies' average.

"If you look at all successful economies of the world... China, Korea, Taiwan all grew very rapidly when their inflation rates were low."

"There is no economy which does well with high inflation rates. So, you know all miracle economies. In these countries, inflation rates were below emerging market economies' average," Mr Sharma noted.

Referring to Prime Minister Narendra Modi's Make in India initiative, Mr Sharma underscored the importance of market share gains because China is "low on exports and becoming more expensive, their wages have gone up a lot and countries that are benefiting are Vietnam, Bangladesh and Cambodia".

In the same breath, Mr Sharma cautioned that "we should keep our expectations in check".

"I have always said about India, this is a country which always disappoints the optimist and pessimist," he added.

According to Mr Sharma, higher FDI flows into India is "a very positive story".
http://profit.ndtv.com/news/economy...estment-morgan-stanleys-ruchir-sharma-1427498

Did you listen to his interview to gauge how much he thought it was overstated by?

Just curious.

 

[ito]

India's GDP Data Overstated: Morgan Stanley's Ruchir Sharma

New Delhi: Terming India's GDP number "overstated", Morgan Stanley chief global strategist Ruchir Sharma has called for more private investment for the economy to get back on track.

"I think India's GDP data is overstated," Mr Sharma told PTI.

Indian economy grew 7.9 per cent in the fourth quarter of 2015-16, taking the overall GDP expansion to a 5-year high of 7.6 per cent for the fiscal year.

Mr Sharma seemed fine with the overall investment in India, but "it has largely been supported by the government".

"The private sector investment is still not picking up in India," he noted, linking low sustainable inflation to "very high" level of investment.

The Reserve Bank of India's decision to bring inflation to 5 per cent this year, he said, is in line with emerging market economies' average.

"If you look at all successful economies of the world... China, Korea, Taiwan all grew very rapidly when their inflation rates were low."

"There is no economy which does well with high inflation rates. So, you know all miracle economies. In these countries, inflation rates were below emerging market economies' average," Mr Sharma noted.

Referring to Prime Minister Narendra Modi's Make in India initiative, Mr Sharma underscored the importance of market share gains because China is "low on exports and becoming more expensive, their wages have gone up a lot and countries that are benefiting are Vietnam, Bangladesh and Cambodia".

In the same breath, Mr Sharma cautioned that "we should keep our expectations in check".

"I have always said about India, this is a country which always disappoints the optimist and pessimist," he added.

According to Mr Sharma, higher FDI flows into India is "a very positive story".
http://profit.ndtv.com/news/economy...estment-morgan-stanleys-ruchir-sharma-1427498

As I said statistics is always open to different interpretations. What Ruchir Sharma is doing is speculating, he doesn't have the real data to derive upon the GDP.

There is one trend that is unmistakable that can give a good picture of GDP growth and that is FDI figures. At $60 billion, India bound FDI has surpassed FDI into China.

 

[jha]

GST, GST aur GST .

 

[ito]

Did you listen to his interview to gauge how much he thought it was overstated by?

Just curious.

I listened to his interview. He seem to guess. He is suggesting that India is growing at a rate of 6% and China at a rate of 4%. He is speculating that India's GDP figures could be overstated because of the new method, where people may not be competent enough to extrapolate from the new method, While in case of China, he saying that China is deliberately fudging the data to match with Communist party's forecasts.

Whatever may be his reasons, it seem his figures are pure guess

Did you listen to his interview to gauge how much he thought it was overstated by?

Just curious.

I listened to his interview. He seem to guess. He is suggesting that India is growing at a rate of 6% and China at a rate of 4%. He is speculating that India's GDP figures could be overstated because of the new method, where people may not be competent enough to extrapolate from the new method, While in case of China, he saying that China is deliberately fudging the data to match with Communist party's forecasts.

Whatever may be his reasons, it seem his figures are pure guess

 

[Nilgiri]

I listened to his interview. He seem to guess. He is suggesting that India is growing at a rate of 6% and China at a rate of 4%. He is speculating that India's GDP figures could be overstated because of the new method, where people may not be competent enough to extrapolate from the new method, While in case of China, he saying that China is deliberately fudging the data to match with Communist party's forecasts.

Whatever may be his reasons, it seem his figures are pure guess



I listened to his interview. He seem to guess. He is suggesting that India is growing at a rate of 6% and China at a rate of 4%. He is speculating that India's GDP figures could be overstated because of the new method, where people may not be competent enough to extrapolate from the new method, While in case of China, he saying that China is deliberately fudging the data to match with Communist party's forecasts.

Whatever may be his reasons, it seem his figures are pure guess

The problem lies with the fact that he doesnt have the SME and informal economy capture that say Raghuram Rajan would have seen and analysed. He went purely by the notion of what he "feels" the growth should be like on the basis of the formal and top tier economy that the old system was based on (with the associated sampling rates).

Mind you there are certain sampling problems and potential errors in the new system that has lead to the "discrepancy" problem...but what people fail to realise is its the best we can put out at the moment under the IMF designed GVA guidelines. It will only be better rationalised with time as more data comes online and less extrapolations are needed.

One for example only need to look at the growth of oil consumption in India in the latest year and compare it to the growth in previous years where it was growing at similar rates to get an idea that its not a huge over-exagerration or something.

 

[randomradio]

There is nothing wrong with India's growth. The West has recently started bashing India ever since Rajan left.

They wanted India to follow the "low inflation high growth" method instead of the "high inflation very high growth" method.

The former is more stable, the latter is quicker and creates more jobs. The former creates stability in the financial sector but affects all other sectors negatively because there is lower liquidity in the market.

What the latter does is helps the Indian corporate sector become more competitive internationally, they don't want that to happen.

 

[Mangus Ortus Novem]

India needs double digit growth for a least a decade to take a chunk of its populace out of poverty. A generation of such growth will half the poverty. Which would a great human achievement.

Everyone should wish to see reduction in abject poverty. All should wish India best in this regard.

Good luck!

 

[Grevion]

After the GST, land reforms and labour reforms it might happen. However to take the growth rate further the global economies have to come out of their slowdown mode which has been there since 2008.

 

[fsayed]

After the GST, land reforms and labour reforms it might happen. However to take the growth rate further the global economies have to come out of their slowdown mode which has been there since 2008.

GST, GST aur GST .

With Good Monsoon this will be an eventuality, thing to be watched is GST Bill. How Govt. musters it through Rajya Sabha. GST will push GDP further 1-1.5%.

http://m.hindustantimes.com/delhi-n...st-rate-cap/story-y4AUEEW0JLfSQF8mYKulGO.html

Cong hints at flexibility on GST rate cap
Shishir Gupta and Gaurav Choudhury| Updated: Jul 10, 2016 11:07 IST