Look How Rich India's Become Under New Prime Minister Modi

[lasttry]

define rich? is it trickling down to the poorest group??

this coming from a person living in a country where the gini co-efficient has become worse than the 1929 depression and where the 99% movement began.

 

[qamar1990]

Its a question of percentages.

Fiscal deficit is coming down, Current Account Deficit is nearly wiped out, foreign exchange is on an all time high, inflation is coming down and most important...economic growth rates are going up.

So yeah, the numbers are great. And they will lead to a better life for all Indians.

they are great compared to before...
look at it like this....
you had a pile of shit....which is bad
now you have a smaller pile of shit...which is also bad.. but its less shit.

If you want to correlate with population size, some Forex reserve per capita numbers for your reference.

View attachment 213005​

A few points to notice on Forex:

• Forex pile up at industrialized countries with trade surpluses e.g. China, Japan, Korea, Taiwan & Germany (ranked #12)
• Countries with high degree of wealthiness, also have ultra high reserves (and per capita) e.g. Switzerland, Hong Kong, Singapore, Saudi Arabia
  
• Resources/commodities rich and exporters also have high reserves e.g. Saudi Arabia, Brazil and Russia.

In addition to Forex, NIIP is also an important indicator to differentiate countries into the two camps of those hold credits, and those in debt. In the above 11 countries, 10 are positive in NIIP i.e. creditiors. @Edison Chen might have more data to add.

thanks now what do you see wrong with that picture??? which country seems out of place?? lol...
only india is less then 1000 per person... in fact even less then 300 per person lol...

 

[Gibbs]

If you want to correlate with population size, some Forex reserve per capita numbers for your reference.

View attachment 213005​

A few points to notice on Forex:

• Forex pile up at industrialized countries with trade surpluses e.g. China, Japan, Korea, Taiwan & Germany (ranked #12)
• Countries with high degree of wealthiness, also have ultra high reserves (and per capita) e.g. Switzerland, Hong Kong, Singapore, Saudi Arabia
  
• Resources/commodities rich and exporters also have high reserves e.g. Saudi Arabia, Brazil and Russia.

In addition to Forex, NIIP is also an important indicator to differentiate countries into the two camps of those hold credits, and those in debt. In the above 11 countries, 10 are positive in NIIP i.e. creditiors. @Edison Chen might have more data to add.

Wow.. Quite a revealing stat that..

 

[tsinga]

they are great compared to before...
look at it like this....
you had a pile of shit....which is bad
now you have a smaller pile of shit...which is also bad.. but its less shit.

Ofcourse.

The important point here is that we are constantly reducing the pile of shit. Ultimately its the direction of the country that counts.

The new government is doing its job well - that of ensuring that more and more Indians are able to improve their fortunes...making sure the economy grows faster and faster.

 

[Shotgunner51]

thanks now what do you see wrong with that picture??? which country seems out of place?? lol...
only india is less then 1000 per person... in fact even less then 300 per person lol...

Wow.. Quite a revealing stat that..

I understand the cheerful emotion among Indians seeing the news of Forex risen by $1.39 billion i.e. only 0.4% increase but still a progress, however the title of "Look How Rich India's Become ..." is quite misleading for the following reasons:

• Total reserves only 8.7% of China's, and less than Taiwan & South Korea.
  
• Down to average Indian (per capita) it is as low as $273, only equivalent to 9~15% of BRICS average, and 1.5~9% of industrialized China/TW/JP/SK average. Not to mentioned the countries like HK/SG/Switzerland, they are in a different league.
• All other countries have trade surpluses (China has $382 billion just in the year 2014 alone, more than India's total reserves), India doesn't.
• All other countries have net assets, India has net debt.

If you expand the table to include more data (trade surpluses, debts), the whole picture would be even more clear. India is nowhere close to rich now, though I wish the best for India to get rich in the future!

 

[tsinga]

however the title of "Look How Rich India's Become ..." is quite misleading

Could not have put it better

 

[Guynextdoor2]

Sure....

Modi: India Inc Losing Confidence

 

[AndrewJin]

I understand the cheerful emotion among Indians seeing the news of Forex risen by $1.39 billion i.e. only 0.4% increase but still a progress, however the title of "Look How Rich India's Become ..." is quite misleading for the following reasons:

• Total reserves only 8.7% of China's, and less than Taiwan & South Korea.
  
• Down to average Indian (per capita) it is as low as $273, only equivalent to 9~15% of BRICS average, and 1.5~9% of industrialized China/TW/JP/SK average. Not to mentioned the countries like HK/SG/Switzerland, they are in a different league.
• All other countries have trade surpluses (China has $382 billion just in the year 2014 alone, more than India's total reserves), India doesn't.
• All other countries have net assets, India has net debt.

If you expand the table to include more data (trade surpluses, debts), the whole picture would be even more clear. India is nowhere close to rich now, though I wish the best for India to get rich in the future!

That's why they need financial and technological support from all over the world, thus AIIB will offer big chances for India, like to change the filthy image of Indian transportation and to provide expertise of reducing poverty and illiteracy.

 

[xyxmt]

Rule of the thumb is not to throw stones at others when you live in glass house...

but we live is a jhompra

 

[Shotgunner51]

That's why they need financial and technological support from all over the world, thus AIIB will offer big chances for India, like to change the filthy image of Indian transportation and to provide expertise of reducing poverty and illiteracy.

Yes I think so, AIIB can help to revamp the poor infrastructure, while WB can focus on poverty reduction, and IMF would offer assistance on macro-financials.

 

[Storm Force]

India is not rich SO LETS LEAVE THIS NOW.

But is powerful nation

It has a very large GDP and impressive FOREX balance.

Huge geography and massive middle class of 300 million.

Technology wise its growing it has a good education system hence so many science graduates.

NO MATTER HOW WE CALCULATE LACK OF TOLIETS OR POOR PEOPLE the indians can stil batter the shit out of any nation on this planet bar the big five...

And the absolutely DOMINATE SOUTH ASIA