India considering $7.7 billion stimulus spending in 2017/18

[doe33]

NEW DELHI (Reuters) - The Indian government is considering a plan to loosen the fiscal deficit target so that it could spend an additional 500 billion rupees ($7.7 billion) in the financial year ending in March 2018, two government sources said on Thursday.

Both the officials declined to be named as the plan, aimed at reviving economic growth, is still to be made public.

On Wednesday, Finance Minister Arun Jaitley said the government was looking for ways to lift economic growth, which slipped to a three-year low of 5.7 percent in the quarter to end-June.

https://in.reuters.com/article/us-i...g-in-2017-18-government-sources-idINKCN1BW1LO

 

[sankranti]

When will these morons learn that to encourage growth you need to put money into the hand of the people and not indulge in state spending

STOP taking money AWAY from the people in form of TAXES.

The MORE people have the MORE people spend and deposit it in banks.

I have lost all hope on Jetlee

 

[hussain0216]

They have no option indian economy is beginning to head into major problems

 

[doe33]

They have no option indian economy is beginning to head into major problems

Irony..We still have 5.7 growth rate..What do you have?
Don't worry about us..We are not loan driven economy..

 

[sankranti]

Irony..We still have 5.7 growth rate..What do you have?
Don't worry about us..We are not loan driven economy..

Screw him. Let us worry about our-self.

Do you think state spending is the way forward ? we are not china.

 

[doe33]

When will these morons learn that to encourage growth you need to put money into the hand of the people and not indulge in state spending

STOP taking money AWAY from the people in form of TAXES.

The MORE people have the MORE people spend and deposit it in banks.

I have lost all hope on Jetlee

Ridiculous statement..Do you think distributing money would increase manufacturing output?Most poor in this country definitely don't pay taxes..They including most people are out of tax umbrella & that makes up to 90%..

 

[hussain0216]

Irony..We still have 5.7 growth rate..What do you have?
Don't worry about us..We are not loan driven economy..

https://defence.pk/pdf/posts/9882668/

https://qz.com/1083578/the-narendra...itting-that-india-has-epic-economic-problems/

You have major economic problems heading your way that will stop in its tracks indias economic growth and pull your hdi, poverty etc figures down

 

[doe33]

Screw him. Let us worry about our-self.

Do you think state spending is the way forward ? we are not china.

Effects might be inconsistent but state spending is definitely way forward..We need more investment in education,infrastructure..Improve literacy can boost GDP growth at huge extent..
BTW that's why demonetization was done..If you see the outcome, huge amount of shell companies have been taxed including more riches are under tax umbrella plus almost a crore new tax payers..Further GST will give additional push..All were calculated moves..

 

[sankranti]

Ridiculous statement..Do you think distributing money would increase manufacturing output?Most poor in this country definitely don't pay taxes..They including most people are out of tax umbrella & that makes up to 90%..

WTF do you mean "distributing money" ?

Who is the govt. to "distribute" my own money ? all they have to do is stop taking it away from me.

And YES, it will BOOST manufacturing , IF you can make manufacturing PROFITABLE in India.

As long as manufacturing is profitable in china, that is where things will continue to be manufactured. So what has Modi done to make Manufacturing profitable in India ? What policy decisions has he taken ? What are the parameters that make India less profitable and china more profitable ? what white paper has the Modi govt. published ?

Even the poor pay sales taxes you idiot .... make that GST now. You are talking about income tax.


Since only 10% of the most productive population of India is burdened under the income tax, Why the Fcuk are they still being crushed ? LIBERATE THEM. They are the core supporters of BJP for god sake. They are the core growth engines for India.

When common sense goes out of the window, all kind of rubbish enters disguised as "oxford educated" actions.

 

[Kyusuibu Honbu]

[QUOTE="doe33, post: 9882864, member: 183462"Improve literacy can boost GDP growth at huge extent..
[/QUOTE]

Not necessarily

Majority % of illiterates in India are in the age group of over 50 and above, who cannot contribute much to the economy

refer page 15

http://unesdoc.unesco.org/images/0014/001460/146016e.pdf

 

[nang2]

Effects might be inconsistent but state spending is definitely way forward..We need more investment in education,infrastructure..Improve literacy can boost GDP growth at huge extent..
BTW that's why demonetization was done..If you see the outcome, huge amount of shell companies have been taxed including more riches are under tax umbrella plus almost a crore new tax payers..Further GST will give additional push..All were calculated moves..

State spending comes from tax money. So relying on state spending basically says state knows better in investing than its citizens, which often is not the case. Usually governments that champion centralized state power like to use state spending, such as Germany (particularly Nazi Germany), France, China, India, current US, etc.

 

[sankranti]

Effects might be inconsistent but state spending is definitely way forward..We need more investment in education,infrastructure..Improve literacy can boost GDP growth at huge extent..
BTW that's why demonetization was done..If you see the outcome, huge amount of shell companies have been taxed including more riches are under tax umbrella plus almost a crore new tax payers..Further GST will give additional push..All were calculated moves..

NO ITS NOT.

State funding is NEVER the way forward. Not unless you want to be burden with Internal and external loans and Higher deficit.

Its a DESPERATE move of a Desperate FM. A admission of failure which is painted in bright neon


DeMo is OVER, stop talking about it as if it was some great achievement. It was not. I am glad its done and over with. Now get OVER it. Stop flogging that dead horse.

GST is going to push DOWN govt. spending since the GoI has to now mandatorly reimburse ANY and ALL states who will face short fall in tax collection due to implementation of GST. For the next FIVE YEARS.

 

[doe33]

[QUOTE="doe33, post: 9882864, member: 183462"Improve literacy can boost GDP growth at huge extent..

Not necessarily

Majority % of illiterates in India are in the age group of over 50 and above, who cannot contribute much to the economy

refer page 15

http://unesdoc.unesco.org/images/0014/001460/146016e.pdf

Let alone those 50s.I know they couldn't contribute much..
We have more than 50% living below age of 25..Let's talk for themselves for a long term..

 

[Diggy]

When will these morons learn that to encourage growth you need to put money into the hand of the people and not indulge in state spending

STOP taking money AWAY from the people in form of TAXES.

The MORE people have the MORE people spend and deposit it in banks.

I have lost all hope on Jetlee

he is not an economist , a lawyer so good at giving speeches & arguments in parliament.

I am in favor of abolishing income tax , especially for the middle class. When the spending capability of ordinary indians is going to increase you will see more product & service based companies setting their shops considering it a lucrative market and hence in process creating more jobs. The total income tax we generate is hardly anything.

 

[sankranti]

he is not an economist , a lawyer so good at giving speeches & arguments in parliament.

I am in favor of abolishing income tax , especially for the middle class. When the spending capability of ordinary indians is going to increase you will see more product & service based companies setting their shops considering it a lucrative market and hence in process creating more jobs. The total income tax we generate is hardly anything.

That is the Fundamental problem. We have made a person with ZERO knowledge about Economics as the Finance Minister. He may be a damn good lawyer and a damn honest man, but all that just adds up to zero in the Finance Ministry.

All he is going to do is listen to the Bureaucrats who has been educated in the soviet and british model of economics and any and all reform he is going to do is going to be directed by the bureaucrats. The usual giza pita stuff that has been going on for the last 70 years.

What we need is a Disruptor like Dr. Swamy to be the FM for at least 1 whole year. What he can do in 1 year, Jetlee cannnot do in 5 years and that is just the sad reality.

Its about time Modi put aside his fear or contempt for Dr. swamy get in the way of India's progress. India NEEDS Dr. Swamy and its about time Modi delivered.

Let alone those 50s.I know they couldn't contribute much..
We have more than 50% living below age of 25..Let's talk for themselves for a long term..

Education creates opportunities, but to convert opportunities into reality you need CAPITAL.

There is no magic short cut. The only way to make capital available to the public is to allow the public to have and own capital. Not State spending.

That is only good for MGNREGA. Is that what will boost the economy ?