India’s GDP to expand by 7.9% this fiscal: Goldman

[Khan_21]

India needs more than 10% growth, if India wants to catch up with China, in any time in the future...

Yeah I don't think that's humanly possible . Their economy is 5 times bigger than you despite having the same population .

 

[oprih]

Fake growth rate as usual from india.

 

[Maira La]

Fake growth rate as usual from india.

Indians themselves think it's fudged:

The Economic Times - At 7.6%, India is the fastest-growing economy or the best data fudger?

 

[Skull and Bones]

I believe linking Farmers directly with consumers across India by freeing them from the clutches of leeching APMC's and the middlemen will do wonders to Indian farmers and might also help control inflation.

The present system benefits only the middlemen and is one of major factors in compelling farmers to commit suicide!

It is astonishing to think that exploitation of farmers by APMC middlemen has been institutionalized for a long time and no party -- bar the recent e-market initiative by Modi -- has done anything substantial to rectify the anomaly!

And not the forget the torture of private lenders, on failing to clear up their debts.

 

[Srinivas]

India's GDP growth rate will cross double digits and it is only beginning !

India is not even a manufacturing giant with good infra. So the growth last for long term.

 

[Shankranthi]

I believe linking Farmers directly with consumers across India by freeing them from the clutches of leeching APMC's and the middlemen will do wonders to Indian farmers and might also help control inflation.

The present system benefits only the middlemen and is one of major factors in compelling farmers to commit suicide!

It is astonishing to think that exploitation of farmers by APMC middlemen has been institutionalized for a long time and no party -- bar the recent e-market initiative by Modi -- has done anything substantial to rectify the anomaly!

Farmers need two things to revolutionise the sector,

1. Network of irrigation Canals.
2. Easy access to lost interest capital.

Human ingenuity will take care of the rest.

 

[ito]

Farmers need two things to revolutionise the sector,

1. Network of irrigation Canals.
2. Easy access to lost interest capital.

Human ingenuity will take care of the rest.

A farmer insurance scheme is also very important. Private insurance companies will not be interested as the risk is too high, and government should take the initiative in this regard and, if required, start a government backed farmer insurance company. No farmer should dies because they had a bad crop yield

 

[ashok321]

India’s GDP to expand by 7.9% this fiscal: Goldman


Because India is using a world famous "miracle grow"

Only country with the highest GDP growth rate. And that, while its manufacturing & exports are down!

 

[Shankranthi]

A farmer insurance scheme is also very important. Private insurance companies will not be interested as the risk is too high, and government should take the initiative in this regard and, if required, start a government backed farmer insurance company. No farmer should dies because they had a bad crop yield

Risk is high because majority of farming is still dependent on Monsoon rather than irrigation.

You provide irrigation and the Risk will automatically reduce significantly and everybody will suddenly be interested in provide them with Insurance cover.

 

[liall]

In Switzerland and Denmark the interest rate is - 0.75% (negative). . ....... this means Swiss and Danish citizens have to PAY the Banks to keep their money.

In Sweden the interest rate is - 0.35% (negative) ... they too PAY the bank to keep their money.

In Japan and rest of Europe the central bank Interest rate is 0% .... people are just thankful that they have agreed to keep the money in the bank for free.

In the US the interest rate is 0.5%.

In India, Banks offer 7.5 % interest rate on FD if you put your money in the bank.

Ever wonder why investors in Europe, US and Japan do not rush to India to simply park their money and live off the interest?

THIS is what monetary reforms should be all about.

The negative interest rates are not for citizens but for the banks who park their money with the central banks.

I believe linking Farmers directly with consumers across India by freeing them from the clutches of leeching APMC's and the middlemen will do wonders to Indian farmers and might also help control inflation.

The present system benefits only the middlemen and is one of major factors in compelling farmers to commit suicide!

It is astonishing to think that exploitation of farmers by APMC middlemen has been institutionalized for a long time and no party -- bar the recent e-market initiative by Modi -- has done anything substantial to rectify the anomaly!

In Maharashtra they have made the laws already. A farmer can sell both to consumers or to APMC if he wishes to.

 

[Ryuzaki]

India’s GDP to expand by 7.9% this fiscal: Goldman


Because India is using a world famous "miracle grow"

Only country with the highest GDP growth rate. And that, while its manufacturing & exports are down!

India's major exports for years has been refined oil.Since crude oil is much cheaper,the value of exported refined oil has also fallen sharply.However,it has increased in terms of volumes.

 

[AyanRay]

One question, why doesnt India exchange rate increases when its IR is so much higher?

Well, high interest rate is the reason why value of currency is lower (though there are other facorts too, like inflation, external trade etc) . This is called interest rate parity. If one country's interest rate is higher than another country, its currency will fall in value against the currency of that other country.

India’s GDP to expand by 7.9% this fiscal: Goldman


Because India is using a world famous "miracle grow"

Only country with the highest GDP growth rate. And that, while its manufacturing & exports are down!

Unlike China, India is not dependent on its exports for economic growth, we are not that well integrated with the rest of the world. Secondly the growth is mainly coming from consumption rather than investment, and record low fuel prices. But to sustain this growth, investment has to go up, or we might enter the low income low growth trap like Pakistan.

 

[Shankranthi]

The negative interest rates are not for citizens but for the banks who park their money with the central banks.

True, citizens do not get any interests either but pay charges to the bank for facilities. Thus in effect they loose more money than they deposit.

Larger point is about making India a magnet for foreign funds and flood the market with capital and drive Indian innovation and business guided by Native intelligence.

 

[ashok321]

or we might enter the low income low growth trap like Pakistan.

India is already a low income country.

 

[Skull and Bones]

Farming and Hunting is the lowest form of economic activity.

Idea is to provide them with the opportunity that will help them climb up the ladder towards higher productivity and resources.

Farmers should be given incentive to educate their child and make the next generation part of the knowledge industry. Easy access to education and resources is the key, not continuing to create a large class of serfs.

I agree to your points, but isn't that the bigger problem? The farming sector has been historically represented by the lower segment of the society, hence India has always been the last one to adopt any modern farming techniques. I bet in 60% or more of the land, hardly any improvement has been seen over the past 100 years. And India has the lowest productivity per area.

If you compare that with countries with Israel, where educated masses are being drawn into agriculture, supported by modern farming techniques, you see a very contrasting picture.