India's GDP growth revised to 4.5% for FY13

[Chinese-Dragon]

Mathematically actual numbers of people makes no difference.

True enough.

I would say due to such a large population, our per capita was very low. That still applies today.

Increasing per capita indicators is easier with a smaller population, not just in terms of cost and scale of development projects but in almost everything else.

Okay it didn't really grow at double digits for 3 decades. But your point stands.

I'm not sure what semantic point you are arguing?

What if I said China grew at an average rate of around 10% for 30 years?

That's in terms of real growth rate. In terms of nominal GDP it was almost double that, mostly due to inflation but also the constantly rising value of the Yuan.

 

[kbd-raaf]

True enough.

I would say due to such a large population, our per capita was very low. That still applies today.

Increasing per capita indicators is easier with a smaller population, not just in terms of cost and scale of development projects but in almost everything else.



I'm not sure what semantic point you are arguing?

What if I said China grew at an average rate of around 10% for 30 years?

That's in terms of real growth rate. In terms of nominal GDP it was almost double that, mostly due to inflation but also the constantly rising value of the Yuan.

Yeah I'm just making a point on semantics, lol.

Your point stands.

It's incredible that the PM said, "India is still the third fastest growing economy in the region".

China has already had 3 decades of incredible growth and Indonesia is already a middle income country. Amazing how incompetence is rewarded in India.

 

[UKBengali]

True enough.

I would say due to such a large population, our per capita was very low. That still applies today.

Increasing per capita indicators is easier with a smaller population, not just in terms of cost and scale of development projects but in almost everything else.

True that a smaller population can be easier to manage but China does have the big advantage that it is more than 90% ethnic Han and has a massive land area. This land helps provide the natural resources to develop the economy.

India is a whole different ball-game for so many reasons and that is why it has been nowhere near as successful.

 

[BigDaddyWatch]

I don't get it. If China is still growing at a good 7-8% a year despite the global recession, etc. why is India not growing as fast as China?

Is India too dependent on Western FDI or is it simply a case of bad governance over the last couple of years in India?

The difference between China and India is that China is focussing on manufacturing ie production and export while India has been focussing on services and consumption. Therefore China for the past 20 years has been a surplus nation while India has been a deficit nation. India was dependent on foreign hot money inflows to keep the value of its currency high and keep paying for its imports. But now with the tapering in the US that hot money inflow has reversed itself and the hot money is now leaving India and India's currency has lost a lot of its value. Leading to higher inflation and lower living standards for its people. And therefore lower growth.

 

[livingdead]

I don't get it. If China is still growing at a good 7-8% a year despite the global recession, etc. why is India not growing as fast as China?

Is India too dependent on Western FDI or is it simply a case of bad governance over the last couple of years in India?

Indian govt and central bank decided that tackling inflation is number 1 priority. The current monetary policy(to rein in inflation) hurts growth and the new RBI gov is not going to change that too soon.... he already indicated.

 

[Vinod2070]

Guys, we should not get too influenced by the sudden over optimism or over pessimism.

The fundamentals of the Indian economy remain strong with some structural weaknesses creeping in recently and the lack of reform momentum created bad publicity.

After the elections, if we have a stable half decent government, you will likely see another wave of euphoria.

This decade should see us overtaking some major European economies one by one in terms of nominal GDP.

We are already the third largest economy in PPP terms and that is a huge achievement in just two decades after economic liberalization. One should not lose sight of what has already been accomplished.

There is a long way we have already covered and there is a long way to go.

One decade of decent economic growth and mass poverty will be history in India. For the first time in centuries.

 

[SrNair]

China grew at double-digits for three whole decades, yet we are still a developing country today.

That's what happens when you have a population of 1+ billion. Even double-digit growth for three decades was not enough.

So what you want ?We dont care china grow like this or grow like that.If PRC have double digit growth then it isgood .But 1+ billion people in India is not in China payroll.Am I right?
We dont follow western style blindly.We have problems ,thousands of diversified culture and religions and believes.We perform our best.If we have now only 4.5%.ok we will try our best in future .Now India have largest number of youths,So we have no other choice.We do it perfectly.But this so called small digit growth India gave you trade surplus of 40 billion$ for your cheap
goods.So even if our growth decreased it is not China problem.China get their trade in future also.Happy

 

[Contrarian]

I don't get it. If China is still growing at a good 7-8% a year despite the global recession, etc. why is India not growing as fast as China?

Is India too dependent on Western FDI or is it simply a case of bad governance over the last couple of years in India?

Somehow we always are 2-3% points behind China in growth.
When China was at 11%, we were growing at 8%-9%.

Now China is 7.5%, we are at 4.5%.

In any case its because of not just bad but practically non existant governance in the last 2-3 years. Only the new Govt will be able to solve things now.

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

That was the philosophy before.
There has been a change of thought since then.
Now we are trying to get into manufacturing in a big(ish) way. Japan is the prime supporter in this endeavor.

With Congress launching all those super-socialist schemes (without any productivity increases to pay for them), this is only the beginning of the end for India's budget and growth situation.

The only way this can be fixed now is if Modi comes to power.

It can still be managed if at the very least no new schemes are launched.
But if Congress gets another term, the odds are they will start launching more super socialist schemes.

 

[blood]

isiliye vote for modi mere deshvasiyo

please is baar koi chuti@yapa nahi, give him +272 and save the nation , my humble request.

 

[faithfulguy]

So what you want ?We dont care china grow like this or grow like that.If PRC have double digit growth then it isgood .But 1+ billion people in India is not in China payroll.Am I right?
We dont follow western style blindly.We have problems ,thousands of diversified culture and religions and believes.We perform our best.If we have now only 4.5%.ok we will try our best in future .Now India have largest number of youths,So we have no other choice.We do it perfectly.But this so called small digit growth India gave you trade surplus of 40 billion$ for your cheap
goods.So even if our growth decreased it is not China problem.China get their trade in future also.Happy

this just point out that India is more likely to split into pieces before it become rich. Indian culture and government do not have what it takes to become a developed country. India is trying to govern like British instead of coming up with a political system to suit a nation of 1 billion people. Just this problem along will hamper India from growing and India will remain perpetual poor and under developed.

 

[Vinod2070]

this just point out that India is more likely to split into pieces before it become rich. Indian culture and government do not have what it takes to become a developed country. India is trying to govern like British instead of coming up with a political system to suit a nation of 1 billion people. Just this problem along will hamper India from growing and India will remain perpetual poor and under developed.

It is amazing how stupid one can be.

Someone from a pathetic little sweatshop unnatural island "country" that is saved from being overrun by the USA, trying to talk of countries where individual cities are larger than all of their pathetic little garbage pathetic sweatshop "country".

 

[Edison Chen]

Emerging markets PMI - HSBC Holdings plc

 

[faithfulguy]

It is amazing how stupid one can be.

Someone from a pathetic little sweatshop unnatural island "country" that is saved from being overrun by the USA, trying to talk of countries where individual cities are larger than all of their pathetic little garbage pathetic sweatshop "country".

If India has per capita GDP of Taiwan, then India would have a GDP that is twice that of the US. As of now, Indian GDP per capita is less than that of Sub Saharan Africa. India still have a long way to go.

Somehow we always are 2-3% points behind China in growth.
When China was at 11%, we were growing at 8%-9%.

Now China is 7.5%, we are at 4.5%.

In any case its because of not just bad but practically non existant governance in the last 2-3 years. Only the new Govt will be able to solve things now.

It can still be managed if at the very least no new schemes are launched.
But if Congress gets another term, the odds are they will start launching more super socialist schemes.

Your post about how the new government will solve things is the foundation of problem in India. When people hope for government to solve problems. The people should ask for the government to step aside as the government is not the solution to the problem, government is generally the problem.

 

[Vinod2070]

If India has per capita GDP of Taiwan, then India would have a GDP that is twice that of the US. As of now, Indian GDP per capita is less than that of Sub Saharan Africa. India still have a long way to go.

Doesn't change the fact of your being a pathetic fil.thy sweatshop tiny island and a unnatural "country" that is only surviving because the USA is allowing it to.

It will not last a single day otherwise.

And also it doesn't change the fact of you being like "unwanted locusts".

 

[faithfulguy]

Doesn't change the fact of your being a pathetic fil.thy sweatshop tiny island and a unnatural "country" that is only surviving because the USA is allowing it to.

It will not last a single day otherwise.

And also it doesn't change the fact of you being like "unwanted locusts".

Stop making personal attacks because the facts upset you. Its not healthy for discussion and this forum when you keep on making personal attacks.