Indian Economy-News & Updates

[skyisthelimit]

http://economictimes.indiatimes.com/markets/stocks/announcements/blackstone-believes-in-india-blockbuster-to-invest-over-2-billion-in-india-over-the-next-5-6-years/articleshow/49680194.cms

Blackstone believes in India blockbuster, to invest over $2 billion in India over the next 5-6 years

Blackstone believes in India blockbuster, to invest over $2 billion in India over the next 5-6 years - The Economic Times

Blackstone believes in India blockbuster, to invest over $2 billion in India over the next 5-6 years

Modi government set to revamp Indira Gandhi's poverty eradication 'Twenty Point Programme'

Modi government set to revamp Indira Gandhi's poverty eradication 'Twenty Point Programme' - The Economic Times

NEW DELHI: Prime Minister Narendra Modi's signature projects Swachh Bharat Mission and Housing for All will replace Indira Gandhi's Twenty Point Programme - a poverty eradication initiative of successive Congress governments.

Twenty Point Programme, which gauges poverty eradication in different states on certain parameters, is set to get a Modi stamp as older parameters are being replaced by the NDA government's initiatives. The programme, launched by Gandhi in 1975, was restructured in 1982, 1986 and 2006 with addition of newer parameters.

However, this time the government is looking at a complete makeover, officials said. At present, the Twenty Point Programme tracks progress of each state under schemes such as job creation, urban poor families assisted under Seven Point Charter, food security, number of houses constructed for economically weaker sections, electrification of villages, number of seedlings planted, roads constructed under Prime Minister's Gramin Sadak Yojana, food security and number of self-help groups promoted.

The government will now replace parameters like number of seedlings planted and food security with performance of states under Swachh Bharat Mission and Housing for All initiative. Officials said the government would also include Sustainable Development Goals as parameters of Twenty Point Programme. The new parameters will include zero hunger, provision of clean water.

Bringing In New Parameters Makes Sense

This won't be the first revision of the indicators of the 20-point programme. The last one happened in 2006. Including new parameters reflecting new human development-related priorities like sanitation makes sense.

The government must go a step further to ensure that those included in the UN-sponsored sustainable development goals find reflection in the 20-point programme. The revamped programme should include an improved tracking system so that assessments are done both nationally and state-wise to allow for better monitoring.

Cabinet clears $7-billion reform package to boost discoms

Cabinet clears $7-billion reform package to boost discoms - The Economic Times

 

[Lord ZeN]

19 crore people brought under banking system in 17 months PM Modi

19 crore people brought under banking system in 17 months, claims PM Modi | The Indian Express/

 

[Star Wars]

https://twitter.com/x/status/663666752862093314

 

[Bitter Melon]

https://twitter.com/x/status/663604424271601664

 

[Star Wars]

https://twitter.com/x/status/663708874852184064

https://twitter.com/x/status/663713155781156864

18,000 villages will get electricity in next 1,000 days: PM Narendra Modi - The Economic Times

 

[kadamba-warrior]

https://twitter.com/x/status/663708874852184064

https://twitter.com/x/status/663713155781156864

18,000 villages will get electricity in next 1,000 days: PM Narendra Modi - The Economic Times

Now that will be a game changer in significantly improving the quality of life of our rural mass! Something that the Congress simply failed to deliver in their 60 odd years of government!

Now, Modi needs to utilize the remaining 3 odd years of his term in strengthening the 'systems' rather than relying on any individual or himself to check corruption and monitor the progress of important projects.

Because there is no way in hell that he is going to get re-elected ever again!

Not after what MGB demonstrated in Bihar!

 

[Star Wars]

Now that will be a game changer in significantly improving the quality of life of our rural mass! Something that the Congress simply failed to deliver in their 60 odd years of government!

Now, Modi needs to utilize the remaining 3 odd years of his term in strengthening the 'systems' rather than relying on any individual or himself to check corruption and monitor the progress of important projects.

Because there is no way in hell that he is going to get re-elected ever again!

Not after what MGB demonstrated in Bihar!

one loss in Bihar and you say he won't get relected ? why are people so defeatist .2019 is 3.5 years away leave it

 

[skyisthelimit]

Now that will be a game changer in significantly improving the quality of life of our rural mass! Something that the Congress simply failed to deliver in their 60 odd years of government!

Now, Modi needs to utilize the remaining 3 odd years of his term in strengthening the 'systems' rather than relying on any individual or himself to check corruption and monitor the progress of important projects.

Because there is no way in hell that he is going to get re-elected ever again!

Not after what MGB demonstrated in Bihar!

Yes. Electricity to all villages. Roads upto each village. These are basic needs.

People in rural village are satisfied even if they get electrcity, water and road.

Will change mandate immediately n favor of NAMO

1000 days is a bit high. He shud finish within 2 years so he can do marketing 1 yr before elections

 

[Star Wars]

Yes. Electricity to all villages. Roads upto each village. These are basic needs.

People in rural village are satisfied even if they get electrcity, water and road.

Will change mandate immediately n favor of NAMO

1000 days is a bit high. He shud finish within 2 years so he can do marketing 1 yr before elections

Still don't have faith on the Indian populace to choose what is right for them...

 

[itachii]

Still don't have faith on the Indian populace to choose what is right for them...

Why blame the populace ?? people gave a mandate un precedent in the recent history for BJP and what did they do at the end of the day ?? destroyed the hopes of people..

 

[Star Wars]

Why blame the populace ?? people gave an un precedent mandate for this govt and what did they do at the end of the day ?? destroyed the hopes of people..

Yes.... because they wanted Singapore in 6 months.. Indians are angry, frustrated , quick to judge and in need of immediate satisfaction.

Government plans tax benefits for house owners, tenants - The Economic Times

 

[Bitter Melon]

Yes.... because they wanted Singapore in 6 months.. Indians are angry, frustrated , quick to judge and in need of immediate satisfaction.

Government plans tax benefits for house owners, tenants - The Economic Times

View attachment 270758 View attachment 270759

Let him concentrate on delivering his promises. Win or loss will be taken care of when the time comes. If India is destined to be a world leader nothing in the world can stop it. If India is destined to be Bihar, no Modi can prevent it either.

 

[Star Wars]

https://twitter.com/x/status/663614012504936448

 

[skyisthelimit]

France's Alstom wins $3 billion Indian Railways contract
France's Alstom wins $3 billion Indian Railways contract - The Times of India via @timesofindia

 

[fsayed]

Rising food prices to hit rural India in 2016 - The Times of India

India's villages face a sharp spike in food prices in 2016, as a second year of drought drives up the cost of ingredients such as sugar and milk, and poor transport infrastructure stops falling global prices from reaching rural areas.

India's first back-to-back drought in three decades also complicates government spending calculations as Prime Minister Narendra Modi tries to prune a subsidy regime that has long propped up the rural economy, and he can ill afford to alienate rural voters after a bruising weekend electoral defeat in Bihar.

READ ALSO: Why dal prices have doubled: Here's the math

It is bad news for the central bank, too, which faces a conundrum achieving its 4 percent inflation target for the medium term as levels diverge in town and country, and infrastructure development would take years to fix it.

India's overall retail inflation eased to 4.41 per cent in September, helped by falling commodity prices, but rural inflation was at 5.05 percent, mostly due to food prices. That, some analysts argue, could worsen, despite the dampening effect of lower wages and sluggish growth in the agricultural sector.

READ ALSO: Concerned over high food prices, especially of dal, says Jayant Sinha

"The impact of this year's drought will cut supplies of sugar, milk and vegetables, which the market hasn't factored in yet fully," said Harish Galipelli, head of commodities and currencies at Inditrade Derivatives and Commodities.

"The first half (of next year) will be more painful than the second half."

While urban dwellers have seen some cheaper imported food products, benefiting from global deflation, that has not filtered through to rural areas, given poor roads, rail and a lack of storage facilities for perishable goods.

READ ALSO: Congress targets Modi government over price rise on World Food Day

Prices of vegetables like onions, tomatoes and potatoes have already been rising, with some staples up as much as 20 percent in a month. Palm oil prices have also climbed in the last two months, while milk prices have risen by 10 per cent.

India will release monthly retail inflation data for October on November 12.

Faltering rural economy

There is little sign of relief.

Indian sugar futures are up by a quarter since a late July low, and producers say lower output because of the drought will push them up further in 2016.

Edible oil prices in India, which meets nearly 70 per cent of demand through imports, are also likely to rise, given scant rainfall in palm oil-producing countries.

Meanwhile, scarcity of fodder and water is expected to hit local milk production from February.

READ ALSO: Food delivery startups feel the heat

"The country's milk production could drop by 5 to 7 per cent in 2016. The reduction will obviously allow prices to rise," an official with the Maharashtra state milk cooperative said.

Food accounts for more than 50 per cent of rural consumer price inflation in India, compared with a third of urban inflation, while categories like fuel, which has seen a considerable price drop, has a much smaller impact in rural areas, where families use firewood or biogas from manure.

The rural economy contributes around 50 per cent of Indian gross domestic product and is already showing signs of strain as government cuts the once-generous subsidies that shielded farmers and villagers. Motorbike and tractor sales were weak in October, traditionally an auspicious time to buy.

Two-wheeler sales rose just 0.36 percent in April-October compared with 16.4 percent growth in the same period a year ago.

"My income dropped nearly 50 percent due to drought," said farmer Sunil Gujar, 42, from the interior of Maharashtra.

"I had borrowed money from a bank for seeds and fertilizer, but now I don't know how to repay the loan."