India is seeking $6B in loans from multilateral institutions such as the Asian Development Bank

[Path-Finder]

https://twitter.com/x/status/1247554730630488066

I thought it was Pakistan that was broke!!

 

[PakFactor]

Doesn't make any sense; Indian Reserve Bank has more than enough money saved up -- unless it's just looking to finance at a lower rate and slowly pay it off. But why take on debt if you have enough reserves.

 

[Type59]

India is running massive deficits. State and federal level. Freebies are given to everyone to buy votes. The gulf arabs got lazy on subsidies but their government could afford it. Whereas Indian government could not. Indians on here boost about 2 rupee meals.

 

[Path-Finder]

It almost sounds like a fiction... with $500Bln in Forex and all the bragging we were subjected to...why would India go to these lenders in the first place?

Are those Forex for reall?

If yes then this borrowing is stranger than fiction...

Anyhow, goodluck to India!

lets wait for internet sena to educate us on it!

 

[Defense Reader]

Gai bhains pani main....

 

[Rafale+Meteor+Spectra]

Very good.
All these international banks are giving loans now at half the interest rate that prevailed in Feb.
It's now cheaper to take loans from these banks than domestic ones.

 

[Pakistani Fighter]

Why they are nit utilizing their Forex Reserves?

 

[Defense Reader]

O man what wonderful neighbour we have just stunned after reading their comints and post seriously thay are utterly no shame in any thing in one thread they portray as Super Economy in other thread they are happy and giving lectures to take loan because rate of interest are low. And in some they lecture about humanity if you have enough reserves then why you take these low interest loan.

 

[Samlee]

Very good.
All these international banks are giving loans now at half the interest rate that prevailed in Feb.
It's now cheaper to take loans from these banks than domestic ones.

Why Do You Need Loans I Thought You Had Enough Forex To Buy The World

 

[Mujahid Memon]

That is all for bhikhmanges.Happy Now.

I wonder what this 17 years old virgin has to say now

 

[xyxmt]

India and Loans...fake news
look at their reserves, PPP, GDP and all indices

 

[Robbie]

Is this a discussion forum or a foul-mouthed slanging match?

I am astounded by the sheer lack of economics knowledge and the utter lack of desire to learn. Do Pakistanis actually think that throwing epithets makes India look bad or make themselves look stupid?

 

[prashantazazel]

It is almost always a smart idea to take low interest loans. It is like free money.
But to understand that, you need to understand economics, I guess.

 

[Chhatrapati]

Why Do You Need Loans I Thought You Had Enough Forex To Buy The World

I remember you claiming you are some CA guy. Can't figure out?

 

[PradoTLC]

India 2020: ‘Superpower’ or Still ‘Super Poor’?
By Andrew Korybko
Global Research, February 20, 2020
Region: Asia
Theme: History


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The hopes of India’s over 1.3 billion people were shattered after their country objectively failed to become the “superpower” that many of their leading “influencers” (read: propagandists) predicted it would be by 2020, with this finally being acknowledged by the popular Hindu nationalist Shiv Sena party last week after it did an about-face by pleading for Trump to reclassify their country as a “developing” one because it “is miles away from the status of developed countries on parameters like education, health, employment, cleanliness and poverty alleviation” and thus supposedly deserves to retain tariff-free access to the American market.

“Superpower 2020”?

Indians entered the current decade with bated breath, having been indoctrinated since shortly before the turn of the century with the completely false expectation that their country would finally become a “superpower” by 2020. They didn’t know exactly what this would mean in practice, but it sounded prestigious enough and was a welcome distraction from the abject poverty that marks many of their lives. After all, Prime Minister Modi told them last March that they were now a “space superpower” after successfully conducting an anti-satellite missile test. He then declared less than a month later ahead of the parliamentary elections in May of that year that only he could fulfill India’s “superpower” dreams. Then-BJP President Amit Shah seconded this statement shortly thereafter prior to it being reiterated by Modi’s Minister of State in September when he promised his people that India is on the “verge of being a superpower”. Once again, nobody ever really explained what being a “superpower” entailed, but the hyper-nationalist population wanted so desperately for the rest of the world to recognize them as one anyhow.

An Epic Disappointment Decades In The Making

That was why it was a disappointment of epic proportions for them that India entered 2020 without becoming the envy of the world like they falsely expected. The popular Indian online news site Scroll.in published a powerful piece at the time titled “India Superpower 2020: Tracing the brief history of a spectacularly incorrect prediction“, which touched upon the 1998 origin of the “superpower 2020” prediction and then explained its viral evolution across the proceeding years to the point where it basically became the country’s unofficial slogan over the last decade. Those who had earlier expressed their reservations about this unrealistic expectation were viciously attacked for being so-called “anti-nationals”, and if they weren’t Indian, then they were usually accused of “Hinduphobia”, but those defamatory abuses are no longer relevant after the influential Shiv Sena Hindu nationalist party publicly acknowledged that India isn’t even a “developed nation”, let alone anywhere near becoming a “superpower”.

The US Calls India’s “Superpower” Bluff

This was very important development because the organization contributes to framing the national narrative, meaning that Indians might never talk about being a “superpower” again, as if what Scroll.in described in their article as the nation’s “collective delusion” over the past two decades never happened at all. Shiv Sena didn’t suddenly switch their narrative from one of impending “superpower” status to that of India simply being yet another “super poor” “Global South” country no different from dozens of others just for sake of factual accuracy but because the nation stands to lose several billion dollars a year if it sticks to that debunked script. The US recently reclassified India as a “developed economy” ahead of Trump’s visit to the country later this month where he’s expected to sign major military and trade deals with America’s new strategic partner. Asia Times reported that this decision was made for technical reasons since India’s share of world trade was above the 0.5% threshold qualifying it for “developing economy” status, hence why nearly 2000 of its products are no longer eligible for the Generalized System of Preferences (GSP) regime that had previously given $5.7 billion in imports to the US duty-free status in 2017, thus making it the largest beneficiary of this program.

$5 Billion In Economic Restrictions Got Shiv Sena To Switch Their Narrative

Shiv Sena, forgetting all about everything that it had said in the previous years about India’s supposedly imminent “superpower” status, furiously lashed out at the US last week by describing its move as “a big blow to our economy…a big crisis for India.”

Walking back its entire narrative of India’s “miraculous growth” which had hitherto won it millions of devoted followers all across the country, the Hindu nationalist party repeated the same observations that the nation’s critics at home and abroad have been saying for years already, namely that “India is miles away from the status of developed countries on parameters like education, health, employment, cleanliness and poverty alleviation.” Evidently, speaking incessantly about India’s supposedly impending “superpower” status is useful for winning votes but becomes economically counterproductive the moment that the US acts like it believes that false narrative and then makes moves to eliminate the country’s preferential market access as a result. With $5.7 billion on the line, Shiv Sena had no choice but to tacitly admit that it and everyone else who had been celebrating India’s rise as a “superpower” were simply lying this whole time.

It’s No Longer “Hinduphobic” To Share Facts About India

There are some crucial lessons that other countries can learn from India’s humiliating experience, the most obvious of which is for political leaders to be more responsible when talking to the public about their country’s future status. Giving the largely impoverished masses unrealistically high expectations of global prestige using a never-defined slogan such as “superpower” is deceptive to the extreme and strongly suggests that they were deliberately manipulating their people for political purposes, likely to distract them from their dire economic situation with delusions of international grandeur. It’s all fun and games until the deadline for “superpower status” finally passed with a whimper and then the US took India at its word by restricting duty-free market access for $5.7 billion worth of its exports, thus dealing a heavy blow to some of its companies which were dependent on that regime in order to remain competitive. Shiv Sena is right, “India is miles away from the status of developed countries on parameters like education, health, employment, cleanliness and poverty alleviation”, but they were wrong for lying about that all this time, though at least those who repeat the party’s new rhetoric can finally speak freely without fear of being attacked as “anti-national” or “Hinduphobic”.

*

Note to readers: please click the share buttons above or below. Forward this article to your email lists. Crosspost on your blog site, internet forums. etc.

This article was originally published on OneWorld.

Andrew Korybko is an American Moscow-based political analyst specializing in the relationship between the US strategy in Afro-Eurasia, China’s One Belt One Road global vision of New Silk Road connectivity, and Hybrid Warfare. He is a frequent contributor to Global Research.

Do Pakistanis actually think that throwing epithets makes India look bad or make themselves look stupid?

fun fact: india is bad

Funny reading the illiterates from a junk credit rating country squawking same thing again and again in this thread about subject they know nothing about.

They have no basic idea what this loan even is or how a loan works...or how loans can be different (cost wise)...and why even CA surplus countries take many loans too.

But then again their junk credit country (which has junk rating for a reason) is supposedly formed on ideology that says interest is haram....yet not only takes the worst priced (interest wise) loans out of desperation....their PM clamours for debt write-off on top of that cuz "corona".

So one can expect only so much from the typical denizens of such a place.

Forex reserves are apparently to "dip into" at any moment and at zero cost (apparently not even a rudimentary basic understanding of how forex accumulates)...but then again their own forex is near zero probably because thats the severe incompetent thinking process even their "elite" had. Just point and laugh I suppose.

economics 101: poor nations borrow money.

It is almost always a smart idea to take low interest loans.

yes... and lenders are complete idiots to do so. And smart india is a complete genius to do so.