India's GDP growth revised to 4.5% for FY13

[Soms]

Indeed and the answers also pragmatic and thoughtful.

The questions may have been 'coached ' , I am not sure if pre SSC students can have so much insight to ask such quality questions ...

Now I am being plain skeptic , I do not intend to question intellectual ability of students ...but some of the questions were really high-end kind ....

We always intend to compare with our own respective generations!

 

[Kyusuibu Honbu]

India is trying to be the first country to skip manufacturing and go into the service sector.

Yup! very true, India is 9th largest manufacturing nation by output and yet it is trying to skip manufacturing and go into the service sector

India ranked 9th among top 10 manufacturers - Economic Times

NEW DELHI: India continued to hold on to its position among the world's top 10 manufacturers even as a slowdown has hit the sector during the second half of the ongoing fiscal.
The latest United Nations Industrial Development Organisation ( UNIDO) report on Industrial Statistics shows that India along with other BRICS (Brazil, India, China and South Africa) contributed around one fifth to the global manufacturing value added (MVA) during the quarter ended December 2011.

India stood 9th in the overall rankings with a modest manufacturing growth rate of 4.1% during the quarter. Among other emerging economies, China's manufacturing sector expanded at the highest pace at 13.1% while that of Brazil contracted by 1.9% during the quarter.
Despite the significant contribution of emerging nations to global manufacturing, developed nations led by the US continued to be the highest contributors to the sector. The US, with a manufacturing growth rate of 4.3%, pipped China to retain its position as the world's top manufacturing country.

 

[Vinod2070]

Yup! very true, India is 9th largest manufacturing nation by output and yet it is trying to skip manufacturing and go into the service sector

India ranked 9th among top 10 manufacturers - Economic Times

Stupidity knows no bounds.

Especially in people quite prone to be brainwashed.

 

[Kyusuibu Honbu]

Stupidity knows no bounds.

Especially in people quite prone to be brainwashed.

There was time this chap called our $990 billion service sector economy to be based on call center and rest of our economy on remittances

High IQ knows no bounds,eh ?

 

[faithfulguy]

Rajas Mehendale, Sister Nivedita School, Dombivali East: The mere rumour of US cutting down on Federal stimulus saw the rupee crash; when will we see Indian policy affecting other countries so intensively?

Zaib, Cathedral & John Connon School: Why is there still inflation even if there isn't enough money to go around? People are poor but there is still inflation?

Parina Muchchala, Gopi Birla Memorial School: In the past many governors have been hiking rates to combat inflation. Would you be more innovative in your approach?

Anirrudh Keni, Jankidevi High School: Recently you increased repo rate by 25 basis points and I was wondering if you increase interest rates on loans by 0.25% , what are you trying to achieve?

Darn good questions...from pre SSC I mean!

In India, the great majority of the wealth are concentrated in the hands of the few. The middle class compose of a small percentage of the population but they keep the Indian economy running. But there is a huge under class of poor that perform the most manual labor in India. I don't know the percentage break down. But the under class of poor are so huge that almost all middle class Indian can afford servants in their home. This is what caused the Indian diplomatic issue. In the USA, no middle class can afford any servants as the poor only consist of a tiny minority of the population, unlike India. That is why Indian diplomats need to traffic servants into US.

All the Indians here are either middle or upper class. The poor can't write nor use the computer. I hope some Indians can point out what percentage of Indians are poor. I know its at least over 50%. But I don't know the actual percentage. Would any Indian who can afford a car and put gas in the car afford a servants? How about an India who own a motorcycle? Please advise.

Yup! very true, India is 9th largest manufacturing nation by output and yet it is trying to skip manufacturing and go into the service sector

India ranked 9th among top 10 manufacturers - Economic Times

This is what I heard from Indians here. That India is the first economy that will "skip" the manufacturing phase and become an advance service economy. Now, no Indians would support that statement. Surprise, surprise.

There was time this chap called our $990 billion service sector economy to be based on call center and rest of our economy on remittances

High IQ knows no bounds,eh ?

India is known for its call center. In the US, we distinguish Indians by either "casino Indian" or "call center India". Guess which Indian are you.

Another distinction is "dots" or "feathers". this is how Americans distinguish Indians.

 

[IND151]

Dont worry, we will recover.

I hope next party coming in power is less dependent on its allies; be it BJP or Congress.

 

[Kyusuibu Honbu]

This is what I heard from Indians here. That India is the first economy that will "skip" the manufacturing phase and become an advance service economy. Now, no Indians would support that statement. Surprise, surprise.

I have also Indians here saying Taiwan will be an independent recognized nation.
But then statements have to be backed with facts

 

[Vinod2070]

There was time this chap called our $990 billion service sector economy to be based on call center and rest of our economy on remittances

High IQ knows no bounds,eh ?

This is the biggest myth of our times.

 

[faithfulguy]

I have also Indians here saying Taiwan will be an independent recognized nation.
But then statements have to be backed with facts

Do you believe that those Indians making the claim that India will skip manufacturing are based on facts? They made those claim when Indian economy was taking off. Now, its brought down to earth, no one is making those claims.

Also, what happen to the claim that India "will have world's fastest growing economy by 2012"? Any newer prediction on when will India have the world's largest economy?

 

[Kyusuibu Honbu]

India is known for its call center. In the US, we distinguish Indians by either "casino Indian" or "call center India". Guess which Indian are you.

Another distinction is "dots" or "feathers". this is how Americans distinguish Indians.

Dude, Chinese are known as Dish washers and Massage Parlour staff in US.

Why are we even discussing derogatory stereotypes of people in USA?

 

[Vinod2070]

India is known for its call center. In the US, we distinguish Indians by either "casino Indian" or "call center India". Guess which Indian are you.

Another distinction is "dots" or "feathers". this is how Americans distinguish Indians.

And you Hans are known for your sweatshops and for being crushed by the CCP under the tanks.

So which Han are you?

You see how stupid you sound and how you lose face every time you show your stupidity?

 

[Kyusuibu Honbu]

Also, what happen to the claim that India "will have world's fastest growing economy by 2012"? Any newer prediction on when will India have the world's largest economy?

India already achieved that in 2010 , 2 years before the target

India outpaces China: Winning the growth World Cup | The Economist

DID India grow faster than China last year without anyone so much as noticing? Many pundits, including this newspaper, have speculated about when India's growth might outpace China's. (The debate even spawned a meta-debate in India about whether the debate was worth having.) So it would be ironic if the moment had already come and gone, without any fuss, fanfare or felicitation.
China grew by 10.3% last year, a punishing pace to beat. India, according to the advance estimate by its Central Statistics Office (CSO), grew by 8.6%. Fast, but not fast enough. But today a colleague pointed me to the IMF's latest World Economic Outlook (Table 1.1), released earlier this week. It says that India grew by 10.4% in 2010. How can that be?
India has two idiosyncrasies in the way it reports its GDP figures. First, it reports growth for the fiscal year, not the calendar year. So the 8.6% estimate refers to the 12 months ending on March 31. That in itself makes little difference. But the second idiosyncrasy is more important. India typically reports its GDP "at factor cost". That means it adds up all the income earned in the course of producing the country's goods and services. Other countries, including China, typically report their GDP "by expenditure", adding up all the spending on domestically produced goodies. Since every purchase is a sale, expenditure should equate to income: every rupee spent by one person is a rupee earned by someone else. But a couple of things get in the way: taxes and subsidies.
A sales tax adds to the amount you have to spend on a good. This boosts measures of GDP by expenditure, relative to income-based measures. A subsidy has the opposite effect.*
If these taxes and subsidies remained steady as a percentage of output, they would not affect the growth rate of GDP, even if they do affect its level. But in India net indirect taxes rose from 7.5% of output in 2009 to 9.2% in 2010, boosting the growth rate of GDP by expenditure for that year.** That was enough to lift India's growth by this measure to 10.36% in 2010. That's fully 0.06 percentage points faster than China. Jai Hind!
* A numerical example might help to illustrate the difference. In the first three months of 2010, India's GDP at factor cost amounted to 12,051 billion rupees. But the buyers of that output paid an additional 1,888 biilion in indirect taxes, adding to the expenditure measure of GDP. They also benefited from 544 billion in subsidies, subtracting from the expenditure measure. The net result was that India's GDP by expenditure in January-March 2010 was 13,395 billion (=12,051+1,888-544).
** All the figures required to reach this conclusion were available from February 28, when the CSO released its estimates of GDP (at factor cost and by expenditure) for the third quarter of last fiscal year, otherwise known as the fourth quarter of 2010.

 

[faithfulguy]

India already achieved that in 2010 , 2 years before the target

India outpaces China: Winning the growth World Cup | The Economist

And India is growing at 4.5% now. Have you know no shame.

And you Hans are known for your sweatshops and for being crushed by the CCP under the tanks.

So which Han are you?

You see how stupid you sound and how you lose face every time you show your stupidity?

So tell me, what is the difference between Casino India vs Call center Indian?

 

[Ayush]

vote for modi

 

[Vinod2070]

So tell me, what is the difference between Casino India vs Call center Indian?

The same one between a Han running after the four pests banging pots and pans.

And the one getting crushed under CCP tanks.