GDP recovers, grows at 6.3% in July-September quarter

[Nilgiri]

Oh, a mere 6.3% GDP growth for a single quarter is a great news of celebration in India! Here, in BD our yearly growth of 7.2% does not make us happy. We want 11% growth per year. But, India is doing its best.

Given we are consuming double what you are per capita (realised PPP consumption). A 6% growth on 200 = 12 units increase per time. 7% on 100 is 7 units per time.

We are still doing 70% better than you when you should be reducing the gap given you are way behind and should theoretically have much more room to grow easily. But certain things (refer to the science and patent output) get in your way (i.e intelligence)....who's fault is that?

You see we do enjoy say Farmers across the seas buying (and giving us large value added forex for multiple labour inputs rather than a tiny slave wage % for some sweatshop worried about the roof collapsing at any moment) and giving reviews on our manufactured products...and that increasing more and more with time.

Something Bangladesh will never ever be able to do in your lifetime. Deal with it. Now shoo and focus how to keep your underwear quota in Europe so you dont get all "chaddi soiled" economically when they automatically end soon with LDC graduation (awwwwh look at how quick they grow up, soon you dont need diapers!).

Indians are not hard working. They work less, earn less and consume less. This is why India remains almost an underdeveloped country.

Whats the ILO published worker productivity between India and BD again?

Oh right:

http://www.ilo.org/ilostat/faces/or..._afrWindowMode=0&_adf.ctrl-state=40rio44mh_45

I'll add Myanmar just so you can cry a little bit more @Aung Zaya

So you are calling people that are twice as productive as you "not hardworking and work less".

So what does that make you? People that cling to X million genocide fantasy for coming into idle existence because you have no jobs at all when you dont make the RMG sweatshop grade? Oh wait you already are that LOL. Maybe its even worse then.

@dy1022 enjoy!

That's unnecessary flame baiting, dude.

It's fine, he just helps to expose his own glass house and that he throws his stones like a little girl.

TBH 5.6% is not good enough for India.

It's not....but more important is what the relevance of formal GDP is to India's economy as a whole in first place (there is important diffence between the two, being the former is subset of the latter). We will start getting some initial answers starting next year when the results of first comprehensive labour survey is out.

One can after all grow 8% or even 10%+ but have crap happening on the ground where it most matters....and have 4% growth but much more good stuff happening on the ground. The former large part of what happened in India earlier actually (and the latter has happened at various times too), it was asset inflation based growth esp when measured in USD. This all stems from the exact formal GDP imprint not being anywhere near 1:1 with Indian economy....though both the imprint and measurement of that imprint are improving with time (both gradual and with some added sudden spurts like demonetisation + GST).

 

[ashok321]

Upbeat about this GDP uptick? Just look at the gathering storm

View: GDP numbers on upturn but India still in the thick of a slowdown

On cue, the services sector, which has been one of the brighter spots, has disappointed. Comprising roughly 65% of GDP (including construction), it has slowed down to 6.6% from nearly 8% in the previous quarter.

• Stocks tumble in the wake of grim fiscal readings

• April-October fiscal deficit at 96% of full year target

 

[ashok321]

• India Inc's foreign borrowings up over 2-fold

 

[Soumitra]

Only Indian media discuss any such matters that long, and believe me, nobody listens to Indian media.

Yes no one cares of the Indian Media. That is why NYT, The Guardian, Washington Post etc are running such beautiful stories about India from Saree being a way for Hindutva to forcibly enforce its culture, the molestation of a dying women on a bridge, to a stratospheric rise of intolerance in the country.

You are right in one part. The credibility of the Indian MSM is lowest in years among the general Indian public. The only reason is that they run a sustained Anti-India campaign disguised as Anti-Modi

who has accepted the Maoist from left wing, there are no maoists or Pakistani apologists in left

Yeah the JNU Jholachaps really hate the Maoists and the stone pelters of Kashmir and want Kashmir to remain an integral part of India

 

[ashok321]

Sensex shrugs off GDP rebound, sinks 316 pts:

 

[Joe Shearer]

where is @Joe Shearer
@takeiteasy
and other intellectuals ?

What do you want 'other intellectuals' and me to do? Check the calculations?

 

[AndrewJin]

You need 30+% growth to claim Supa Powa.

 

[Juggernaut_Flat_Plane_V8]

Credit goes to both the BJP govts and the Congress govts to increase the growth rate from the erstwhile Hindu rate of growth around 3% to a consistent 6-7% over the last 26 years

The 9%+ growth rate of the four years in the mids 2000s are never going to come back, much of it was due to the fact that the whole world economy was a going through a boom of 4% growth....white people in US are dying by the millions in their prime done in by depression, opiods and drug addiction ..they used to be drivers of growth and in a smaller way Europeans..well they are just not reproducing at all

at best we can hope a global growth rate of 2 to 2.5% annually

when that is the case then India's situation should be seen as this in the 2010-2050 era:

6% range of annual growth--------------------------------the acceptable bare minimum
7% range of annual growth--------------------------------commendable
8% range of annual growth--------------------------------excellent and superb performance
9% range of annual growth--------------------------------Won't Happen anymore

by the 2060s global economic growth would have more or less finished and we would return to the stagnation of the pre-Industrial period where GDP per capita would be more or less stagnant for hundreds of years

the global population will stabilize at somewhere around 10-11 billion and the global average IQ is somehwere around 93 IQ points ..Assuming that it doesnot drop due to massive African dysgenic reproduction, we can assume that by end 2050s global GDP per capita on average would be like that of the long stagnant Argentinian economy's---13k USD per capita nominal

So global Nominal GDP would be around 130-140 trillion USD nominal around 2060-2060

now the present global gdp nominal is around 75 trillion usd.......

so around 55 to 65 trillion usd nominal of growth left......

it depends who captures how much

India will capture around 15 trillion of it......China will capture around 20 trillion of it
the rest 20-30 trillion will be fought out among the other players

 

[oOo]

Right, Left or Center. I don't find any harm in criticizing. It is actually a way for improvement and self correction.

Highly incorrect assertion. Criticizing is good if its constructive. Criticizing for sake of it creates unhealthy environment and a sense of doubt toward government policies. It kills enthusiasm of masses which do not have access to accurate information or they are not educated enough to qualify a critic as good or bad.

 

[ashok321]

India can hope to grow its GDP steadily, but not sharply

 

[ashok321]

Higher Q2 GDP numbers are good news, but matter little for the common man & real economy

 

[IndoCarib]

What do you want 'other intellectuals' and me to do? Check the calculations?

That would be great !

 

[Joe Shearer]

That would be great !

Sure thing. Be back to you real soon. What are you doing April 18?

 

[Tanveer666]

.[/QUOTE]


Shouldn't the low output be attributed to he fact that most of our workers produce garments products, which themselves are very cheap (hence the lower output in dollars) ?

 

[Nilgiri]

Shouldn't the low output be attributed to he fact that most of our workers produce garments products, which themselves are very cheap (hence the lower output in dollars) ?

Most of your workers are involved in producing rice etc.. still compared to RMG. RMG helps to take some relief off the paddy fields so more investment/productivity can take place there too (without creating undue unemployment).

RMG is indeed very low MVA as well overall. (The hope is the MVA buffer it does afford over time can be accumulated and spread to higher productivity output MVA). Higher productivity will need quality investment in other MVA activities + services....a chicken and the egg situation somewhat.

The lower output due to "dollars" is already accounted for because its PPP (i.e its dollars at the price level/consumption norms specific to BD as a country rather than USA).