India is fastest growing economy in world: PM Narendra Modi

[Chanakya's_Chant]

This is recalculating base year augmented by a huge amount of hot air !!!

Two years back Bangladesh also changed its base year with which its GDP had gone up by more than $18 billion to to US$151 billion in nominal terms. Which air was it - hot or cold?

http://www.thefinancialexpress-bd.com/old/index.php?ref=MjBfMDlfMDRfMTNfMV8xXzE4MjE5Nw==

 

[Icewolf]

Actually India is growing 72% per year.

Modi Sanskrit Calculations have proven wrong as he is Dalit...

 

[A$HU]

Actually India is growing 72% per year.

Modi Sanskrit Calculations have proven wrong as he is Dalit...

You dont know anything about economics ,so you decided to troll.Good for you.

 

[fallstuff]

Two years back Bangladesh also changed its base year with which its GDP had gone up by more than $18 billion to to US$151 billion in nominal terms. Which air was it - hot or cold?

http://www.thefinancialexpress-bd.com/old/index.php?ref=MjBfMDlfMDRfMTNfMV8xXzE4MjE5Nw==

Bangladesh base year was adjusted after about 18 years as the one before that was done in the mid 1990's. This recalculation is routinely done all over the world.

What Modi did is more than routine recalculation. He is trying to attract investments by making the economy looking better than it really is. This may work on the less informed investors, but probably won't work on the well informed investors.

 

[My-Analogous]

PUNE: Prime Minister Narendra Modi said on Saturday that India has become the fastest growing economy in world.

"India is the fastest growing economy in world with the GDP growth rate of 7.4%," the Prime Minister said.

Addressing a function after inaugurating the multimodal manufacturing project of GE at Chakan, Pune, the PM said that the government is focusing on ease of doing business in India.


Talking about steps taken by the government to ease setting up of new businesses in India, the PM said that the number of permissions needed to set up hospitality industry being brought down from 110 to 20.

PM Modi also said that the opportunities for manufacturing in India are immense. "Our effort is to make policies predictable in order to attract investments," the PM said.

PM Modi further said that "we are blessed with demographic dividend".

"India offers immense opportunities for ship-building sector," the PM said, inviting US-based GE to manufacture ships in the country.

India is fastest growing economy in world: PM Narendra Modi - The Times of India

Modi certainly help India become the fastest growing economy. Without his new leadership, this would never happen.

It is just a quarter year. Before claim they have to wait for a year. I don't know why are they claiming to early.

 

[IndoCarib]

Bangladesh base year was adjusted after about 18 years as the one before that was done in the mid 1990's. This recalculation is routinely done all over the world.

What Modi did is more than routine recalculation. He is trying to attract investments by making the economy looking better than it really is. This may work on the less informed investors, but probably won't work on the well informed investors.

You know nothing about economics or GDP, leave alone base year revision. The same base year revision done all over the world was done in India.

 

[Luca1]

It is just a quarter year. Before claim they have to wait for a year. I don't know why are they claiming to early.

They do it so they can brag. It's I their genes to brag as they had been subjugated for many years so any little good news is an opportunity to boast.

 

[Steakhouse]

It is just a quarter year. Before claim they have to wait for a year. I don't know why are they claiming to early.

Even Obama couldn't transformed US economy miracle in the yr of his 1st term presidency, India economy in more deep shit compare to US economy during the financial crisis with US possess of unlimited Dollars printing to turn around US economy but Modi in his 4 months of the head of India, he performed a miracle have never been seen in the world economy, he just can used the Vedas calculation to forge up a double economy grow in just a current fiscal yrs. I smell fudge up number to the highest degree. Modi elected because India economy performed badly in 3 yrs straight and Modi used economy as the key platform for his election bid, somehow India economy turnaround wasn't due to the market driven factor but revise the base yrs of the economy calculation.

 

[Luca1]

Even Obama couldn't transformed US economy miracle in the yr of his 1st term presidency, India economy in more deep shit compare to US economy during the financial crisis with US possess of unlimited Dollars printing to turn around US economy but Modi in his 4 months of the head of India, he performed a miracle have never been seen in the world economy, he just can used the Vedas calculation to forge up a double economy grow in just a current fiscal yrs. I smell fudge up number to the highest degree. Modi elected because India economy performed badly in 3 yrs straight and Modi used economy as the key platform for his election bid, somehow India economy turnaround wasn't due to the market driven factor but revise the base yrs of the economy calculation.

This is totally window dressing. Real investors would never fall for this crap. The other indicator are still showing that India is mired in economic crisis and this adjustment will only hurt the average Indian people.

 

[Steakhouse]

This is totally window dressing. Real investors would never fall for this crap. The other indicator are still showing that India is mired in economic crisis and this adjustment will only hurt the average Indian people.

Every country can raise their economy as India did with revise economy calculation by used India own counting method.

 

[DotHeadHunter]

 

[Luca1]

Every country can raise their economy as India did with revise economy calculation by used India own counting method.

Watch for some Indians to say, "well, why won't they" we thought of it first. They think they are so smart as no one thought of this self delusion.

 

[fallstuff]

You know nothing about economics or GDP, leave alone base year revision. The same base year revision done all over the world was done in India.

I seriously doubt congress would leave with Modi the opportunity to recalculate the base year if they could do it themselves considering one of the primary reasons of their election loss was slow growth.

This is Modi majic at play, nothing more, nothing less.

Modi the Magnificent will soon be walking on water !!!

 

[Tshering22]

Amazing news! We need to power our economy and our country's stand internationally even more. Proud of you sir!

 

[Chanakya's_Chant]

Bangladesh base year was adjusted after about 18 years as the one before that was done in the mid 1990's. 157.8 billion

>> In India base year is changed after every 5 years - last such change was done in 2010 when the base year was changed from 1999-00 to 200-06 - The next such change will be in 2020.

>> It's not Modi but National Statistical Commission which is an independent organization - this was the same organization which revised it some 5 years back in 2010. It that had been the case then the RBI wouldn't have asked for some more time to study the data.

What Modi did is more than routine recalculation. He is trying to attract investments by making the economy looking better than it really is. This may work on the less informed investors, but probably won't work on the well informed investors.

>> The economy is doing better now than it was in 2013. Indeed India has been a rare bright spot among emerging markets. Mr Modi’s pro-growth government won a healthy mandate in elections last May and after a slow start, it has pursued its reform agenda more urgently in recent weeks. The stockmarket has boomed, in part because foreign investors remain keen buyers of Indian assets, even as they pull money from other emerging economies. The rupee is firm. The central bank has even expanded its foreign-exchange reserves to a record $330 billion—thus keeping the rupee from rising by more.

The economy is likely to pick up further. The recent falls in commodity prices, which have hurt raw-material exporters such as Brazil, Russia and South Africa, are a boon for India, which imports 80% of the oil it consumes. Rich economies may fret about the dangers of falling prices around the world; Indians, on the other hand, are pleased they no longer have double-digit inflation at home.The diminishing threat from inflation has already prompted India’s central bank to reduce interest rates in January, from 8% to 7.75%.

>> If there would have been any fluctuations in investment coming in then it would have been reflecting in the stock markets instantly.

>> Thanks to the well informed investors - India ranks #4 in top FDI destinations with an annual FDI inflow of $35 Billion.