Narendra Modi is damaging India’s economy as well as its democracy-the Economist

[Gandhi G in da house]

"Nick Indian"....*posts pic of kal penn cuz progressivisms*...changes name to "Gandhi G in da house"...so clever, so fun....yet continues to play his dumb knock knock who's there game with the same trolls in here.

WTF are you on about man ?

Your discomfort at being thrown with sources is making you incoherent now. Get off my back Bhakt.

 

[The_Showstopper]

I still don't understand how he got a second term with a bigger mandate despite not doing a good job with the economy. I mean everyone expected him to get a 2nd term and honestly, every deserves two terms to really show results but his mandate in the second term should have at least taken a hit. It amazes me.

Watch the Indian TV channels especially the news channels, then you will understand the reason he got elected again with a bigger mandate.

 

[Jackdaws]

OK enjoy your productive time cry-taunting the same trolls in here, instead of improving your lot on your end. Or taking me super serious and personal when I like being a bit of edgy devils advocate....you want me to sugar coat everythign for you, be super nice? Or gotta be one of those trolls you keep harping on an on with in one liners here, as though someone changes their opinion in the end, or gets some compromise on something.

After all you are the one whining about HOW/WHY larger mandate based on your simpleton situation and whatever confirmation bias falls your way from whichever talking head living in another bubble. My answer is simple, go out there and talk to people, real masses of people where they are found if you want to know. If you dont want to know for yourself and want everything coming your way super transparent and completely undoctored by whichever other stream....ok thats your choice too.....just try temper the "why whyyyyy whyyyy hoooowwww?" when those streams get their stuff completely wrong in the end.

I am "sitting in Canada" after all. Yeah I have never been to a village (or many villages and towns) in India ever (forget recently) asking them about how life is there now compared to before or participating in veryfying whether what I and others give is being put to actual use as was promised. When I am back in Canada, there is no way for this information to continue to come my way either, its all super insulated in todays world. Woe is me.

And anyway after all their hundreds and thousands of votes mean little compared to some lawyer guy between A - tier jobs right? If some lawyer is suffering, man the peons and peasants must be getting crushed.....this vote result does not make sense....the hindutva intolerance stronk thought is just that stronk in the end. Energy use map from space shows different? NASA is clearly in on it....they part of the modi alliance!:

https://www.cnn.com/2017/04/13/asia/india-nasa-satellite-night-trnd/index.html

Some random Parle-G quip about layoffs (with zero context) is super systematic in comparison....how dare the dude clear up what he meant: https://www.hindustantimes.com/indi...-on-layoffs/story-G2N4IYsC5aQ0x9rINe8EHN.html

Meanwhile your clown of a dolt running the dolt party of India still taking his foreign holidays to bangkok....right when he's needed the most (at least one would think, maybe they send him away instead to help lol). Man having a silver spoon up rear can be so stressful! I ask again, whats the big holdup in changing the dolt party to finally a full meritocracy non-dynast party? Wouldn't it at least change something needing a change and pose some quality challenge to the big party now?



Explain what you even mean by this lol. There was a huge change in ease of doing business under congress rule by any reforms and bureaucracy changes of note? Something else I am missing?

All I saw under silent sardar was use of the momentum from NDA in term 1 to do squat + a little tinkering....leave everything alone and let the engine kind of coast...in the great hot money asset inflation kind of way.

UPA 2 was...oh crap SHTF in world market situation, time to pile on more subsidies and cut capex as far as govt goes....and still do zilch in actual reform. Then add some scams and crap on top of it. It all took terrible toll on India opportunity cost (given the blow back from fiscal operating pressure and absolute static malaise in reform valve to relieve it), at least 1 or 2 trillion in nominal USD at this point downstream.

No, but Congress did not interfere in the workings of the RBI or politicize it. It did install good economists as RBI Governors instead of yes men. No one is denying Congress and its umpteen scams. But you can choose to deny that BJP policies have been an economic disaster.

 

[Crystal-Clear]

If it's hijacked why lose 3 state elections?

loose a battle win a war type strategy . old school trick .

 

[Thamizh Puli]

Seems like after 15-20 years you have to repeat the same thing, check predictions about India catching up with China 10 years ago.

India manufacturing is not even 15% of China manufacturing, a powerhouse. Indian IT industry is mostly about BPO and its funny that, Indians are a huge percentage of IT industry, but their contribution to research and new ideas is ZERO, India, never devised any new programming language, or any operating system, new architectural paradigms or algorithms. Indian IT industry is all about low-skilled service sector, call centers, coding-BPO.

hm. so you don't like India. Clear.

Why are you piggyback riding the Chinese? To compare China with India is gross injustice to China. The only commonality you have is your both 1.4 billion populations. That's about it.

riding? not at all. It is not a comparison either. Read again without jaundiced eye

 

[Nilgiri]

No, but Congress did not interfere in the workings of the RBI or politicize it. It did install good economists as RBI Governors instead of yes men. No one is denying Congress and its umpteen scams. But you can choose to deny that BJP policies have been an economic disaster.

"Congress did not interfere"......according to.....you guessed it... the Congress and its leftie hacks.

Yes I will choose the macro facts as visible from space , reported by UNICEF, and actually survey of the people of India regarding their basic of most basic livelihoods. The stuff deng and China addressed in the 80s itself, but worthless left-dynasty types and their hacks never did...and yet hypocritically fawn and whinge (depending on subject matter) over their accomplishments based on that bedrock.

Lefties can churn and cry which percolated "data" suits them, and which data doesn't suit them...of their wrapped up woe is me bubble lives.....and then change that all around a year later as needed...and hope no one watches or keeps track of their ole switcheroo.

Just one example, I remember all the drama they did similarly on "job creation" from govt spending program (total waste) and when you ask them to actually look at the numbers (uh NREGA transient jobs anyone?), they go silent.

Then when you confront them on that in detailed way, they start their "bhakt" drama. Not one for example can actually explain demonetisation impact on the credit cycle (nor see the stark counter-relevance of their own 99.9% wasnt returned high dance they trumpet seconds before).

What you all want me to call Modi and Shah scumbag politicians to actually earn some credibility badge for any actual further convo? Sure I'll call them that....wont change anything on the material though or how the overton skewed system reports it (we have to rely on the election results for that increasingly)....or the fact they are a million times better for the actual ground development in the most basic of basic matters than waitress and silent sardar and thumb in his mouth princeling dolt.

WTF are you on about man ?

Your discomfort at being thrown with sources is making you incoherent now. Get off my back Bhakt.

I was just messing whicchu. Find a job mr lawyer....or maybe dont LOL:

 

[Gandhi G in da house]

"

I was just messing whicchu. Find a job mr lawyer....or maybe dont LOL:

I am a lawyer, so i technically don't need a job. May be i will just start with suing you . Kidding.

 

[SrNair]

The muddle Modi made

Narendra Modi is damaging India’s economy as well as its democracy
The country at last has a leader with the power and the incentives to push through big reforms. But he is not acting

Print edition | Leaders
Oct 24th 2019

Stories of the clampdown in Jammu & Kashmir and the threat to strip millions of poor and mostly Muslim people in Assam of citizenship, a form of ethnic cleansing by bureaucracy, have seeped into the world’s consciousness, but many Western businesspeople are still inclined to defend the Indian prime minister. Even if Narendra Modi is bad for democracy, they say, his pro-business philosophy is good for the economy. But, as our special report this week argues, that argument no longer washes. India’s economy is incompetently managed and doing badly.

Growth fell from 8% in the middle of last year to 5% year-on-year in the most recent quarter. That might not sound too bad, and other emerging economies are also suffering, but India needs to grow fast just to keep its vast workforce fully employed. Worse, the slowdown looks less like a dip than a prolonged cold shower.



Some banks and many other lenders are in crisis, with a $200bn mountain of bad debts. In the six months ending in September, the total flow of financing to businesses fell by 88%. Five successive rate cuts by the Reserve Bank of India, the central bank, have failed to pull down commercial lending rates, and in any case firms are not investing. Consumer demand has levelled off or fallen, too. Sales of cars and motorbikes have tumbled by 20% or more. And with the combined fiscal deficit of the federal government and the states already approaching 9% of gdp, and tax receipts falling well below expectations, there is little scope for stimulus.

When it first took power in 2014 Mr Modi’s government inherited an economy with plenty of problems, but it did too little about them. The latest downturn continues that disappointing pattern. With the exception of a steep cut in corporate taxes earlier this month, to 25%, which brings India into line with other countries in the region, the official response has been scattershot and timid. This, say critics, reflects both an unusual paucity of expertise in Mr Modi’s government and conflicting views in his circle, as competing interest groups vie for his ear. Nevertheless, the outlines of what needs to be done are clear.

To start with, Mr Modi should recruit an economic team that is based on competence and experience rather than affinity for the Bharatiya Janata Party’s Hindu-nationalist ideology. It must tackle both the financial crisis and sagging demand. To fix the banking system, the banks and the lightly regulated shadow banks that have recently been lending heavily need to be stress-tested and, where necessary, the banks recapitalised. Eventually, the state-owned banks could be privatised and the shadow banks put under the same prudential regulations as other lenders.

A broader privatisation programme would give the government the money it needs to succour demand. It should make use of levers such as the national rural-employment scheme to get money to the distressed hinterland. In the longer run, the tax system, labour laws, the regulation of land-ownership and fiddly, protectionist tariffs should all be given a thorough overhaul.

Many of these items have been on the to-do list of every Indian government for decades. But the long history of stasis only strengthens the case for change. And in Mr Modi, with his vice-like grip on parliament, his reputation as a friend of business and his need to right a foundering economy, India at last has a leader with the power and the incentives to push through big reforms.

The fear is that, instead of getting to grips with the economy, Mr Modi will stop posing as a reformer and fully embrace his alter ego, as a chest-thumping Hindu nationalist. Just months into his second term, he has already abolished India’s only Muslim-majority state and is threatening to expand to the rest of the country his scheme to hunt down supposed foreign interlopers in Assam. In the face of India’s growing economic problems, Mr Modi’s focus on communal grievances seems even more reprehensible. Alas, he may yet draw the opposite conclusion. ■

https://www.economist.com/leaders/2...aging-indias-economy-as-well-as-its-democracy

Thank you for concerns .
But everything is normal here .
There has been some necessary course corrections which was a necessity and there will be some mild shocks which is normal.

We elected him because we Indians realised that there is a need for reforms

I still don't understand how he got a second term with a bigger mandate despite not doing a good job with the economy. I mean everyone expected him to get a 2nd term and honestly, every deserves two terms to really show results but his mandate in the second term should have at least taken a hit. It amazes me.

Well.
That is a good question that you need to find the answer .
Fact is the bottom downtrodden people dont care about the high GDP, promising NYAY .
They will only care when they got stuffs in hand .
Now our folks are even unable to grab the rightful from Govt where the Modi Govt provided.
Basic health care,LPG,Sanitary facilities (they are using that or not is another question) this govt delivered to them.
Basics only that turned to vote .

We from Kerala dont count these are some achievements ,but for downtrodden ones these are valuables .
During last LS election our left medias toured in Varanasi expected strong anti Modi opinion but quite surprised that they were wrong .
Now you can train one or two but everyone including in food path and streets impossible

"Congress did not interfere"......according to.....you guessed it... the Congress and its leftie hacks.

Yes I will choose the macro facts as visible from space , reported by UNICEF, and actually survey of the people of India regarding their basic of most basic livelihoods. The stuff deng and China addressed in the 80s itself, but worthless left-dynasty types and their hacks never did...and yet hypocritically fawn and whinge (depending on subject matter) over their accomplishments based on that bedrock.

Lefties can churn and cry which percolated "data" suits them, and which data doesn't suit them...of their wrapped up woe is me bubble lives.....and then change that all around a year later as needed...and hope no one watches or keeps track of their ole switcheroo.

Just one example, I remember all the drama they did similarly on "job creation" from govt spending program (total waste) and when you ask them to actually look at the numbers (uh NREGA transient jobs anyone?), they go silent.

Then when you confront them on that in detailed way, they start their "bhakt" drama. Not one for example can actually explain demonetisation impact on the credit cycle (nor see the stark counter-relevance of their own 99.9% wasnt returned high dance they trumpet seconds before).

What you all want me to call Modi and Shah scumbag politicians to actually earn some credibility badge for any actual further convo? Sure I'll call them that....wont change anything on the material though or how the overton skewed system reports it (we have to rely on the election results for that increasingly)....or the fact they are a million times better for the actual ground development in the most basic of basic matters than waitress and silent sardar and thumb in his mouth princeling dolt.



I was just messing whicchu. Find a job mr lawyer....or maybe dont LOL:

One advantage of NREGA was its increased the wage scale in villages .
Still everything was just non productive .
What would be return to economy if some talkative ladies cuts a bunch of grass or twigs in rural remote area ?

Sitting in Canada it's very easy to condemn someone or his views for the party in power. It is also very rich that you accuse me of not being aware of the ground realities or not trying to study the situation. I LIVE here, unlike you and I experience life here unlike you on a daily basis. And since i live here, I talk to people of all walks of life too about politics. Most people who voted for Modi the second time did not vote for his performance on the economy or an improved standard of living. Even his most staunch supporters say categorically that he hasn't delivered on the economy yet. Reasons vary from Hinduism to no other option. I lost my own job in July due to low economic activity. I am a lawyer who worked for a top law firm till recently in Delhi and I am yet to find another job. I know others like me too.

I won't go into further detail with someone who doesn't live here and has no idea wtf he is talking about, yet has the galls to lecture me. Just a hint, if Parle G has to lay off thousands of workers, wtf are we even discussing here.

Are you sure that everything starts from 2014?
When P Chidambaram brought the participtatory notes in 2004 ,first thing he did in the same year in UPA 1, Ram JethMilani famously compared him to the best friends of the Black money hoarders .
Black money came to India after that change and land value skyrocketed artificially pumped economic activity a kind of bubble .
IT revolutions did the rest .IT already losing its shine and after demonetisation land bubble burst .
Fact is all these economic growth was centered on middle class to rich .Bottom line people didnt see any improvement .

OK enjoy your productive time cry-taunting the same trolls in here, instead of improving your lot on your end. Or taking me super serious and personal when I like being a bit of edgy devils advocate....you want me to sugar coat everythign for you, be super nice? Or gotta be one of those trolls you keep harping on an on with in one liners here, as though someone changes their opinion in the end, or gets some compromise on something.

After all you are the one whining about HOW/WHY larger mandate based on your simpleton situation and whatever confirmation bias falls your way from whichever talking head living in another bubble. My answer is simple, go out there and talk to people, real masses of people where they are found if you want to know. If you dont want to know for yourself and want everything coming your way super transparent and completely undoctored by whichever other stream....ok thats your choice too.....just try temper the "why whyyyyy whyyyy hoooowwww?" when those streams get their stuff completely wrong in the end.

I am "sitting in Canada" after all. Yeah I have never been to a village (or many villages and towns) in India ever (forget recently) asking them about how life is there now compared to before or participating in veryfying whether what I and others give is being put to actual use as was promised. When I am back in Canada, there is no way for this information to continue to come my way either, its all super insulated in todays world. Woe is me.

And anyway after all their hundreds and thousands of votes mean little compared to some lawyer guy between A - tier jobs right? If some lawyer is suffering, man the peons and peasants must be getting crushed.....this vote result does not make sense....the hindutva intolerance stronk thought is just that stronk in the end. Energy use map from space shows different? NASA is clearly in on it....they part of the modi alliance!:

https://www.cnn.com/2017/04/13/asia/india-nasa-satellite-night-trnd/index.html

Some random Parle-G quip about layoffs (with zero context) is super systematic in comparison....how dare the dude clear up what he meant: https://www.hindustantimes.com/indi...-on-layoffs/story-G2N4IYsC5aQ0x9rINe8EHN.html

Meanwhile your clown of a dolt running the dolt party of India still taking his foreign holidays to bangkok....right when he's needed the most (at least one would think, maybe they send him away instead to help lol). Man having a silver spoon up rear can be so stressful! I ask again, whats the big holdup in changing the dolt party to finally a full meritocracy non-dynast party? Wouldn't it at least change something needing a change and pose some quality challenge to the big party now?



Explain what you even mean by this lol. There was a huge change in ease of doing business under congress rule by any reforms and bureaucracy changes of note? Something else I am missing?

All I saw under silent sardar was use of the momentum from NDA in term 1 to do squat + a little tinkering....leave everything alone and let the engine kind of coast...in the great hot money asset inflation kind of way.

UPA 2 was...oh crap SHTF in world market situation, time to pile on more subsidies and cut capex as far as govt goes....and still do zilch in actual reform. Then add some scams and crap on top of it. It all took terrible toll on India opportunity cost (given the blow back from fiscal operating pressure and absolute static malaise in reform valve to relieve it), at least 1 or 2 trillion in nominal USD at this point downstream.

Singh wasnt the one it was that thief Chidambaram that called the shot in turn invited all those black money and created an economic activity on the basis of real estate .

https://www.hindustantimes.com/indi...-on-layoffs/story-G2N4IYsC5aQ0x9rINe8EHN.html

Did you even read the article you posted ?

“The facts have been hyped by media. The condition of job loss is actually an eventuality if our demand for lesser tax rates is not met"

It is not a fact that people have lost their jobs by now. The fact is that we cannot continue with the same number of manpower if we are not having the same production volume as earlier."

By this date in August, Parle G may not have laid off people but is clearly threatening to, thanks to policies of this government. Now whether the lay offs actually happened or not, the fact that they were being seriously considered till August, tells you something.

Oh btw, this is latest -

https://theprint.in/economy/indians-are-not-buying-underwear-thats-how-bad-the-economy-is/309673/

Oh and one more thing-

https://www.indiatoday.in/india/sto...esh-in-global-hunger-index-1609757-2019-10-16

Oh and btw, why was your "beloved government" (in the country which you left) caught hiding unemployment data which is highest in 4 decades just before the general elections which led to resignations as well ?

https://www.businesstoday.in/top-st...ness-to-tackle-unemployment/story/315310.html

There is so much more out there. Anyone who is not a blind bhakt can see.

I would like to add, that this "lawyer guy", lives in India and talks to people on a daily basis, which includes uber drivers, auto drivers, slum dwellers etc and knows that many people are voting for BJP despite the economy and there is absolutely nothing wrong in wondering why and having an open discussion about the possible reasons. Especially as someone who lives here.

Thirdly, only a "simpleton" mind can assume that criticizing Modi govt. on the economy can automatically be deduced to mean that the critic must be a supporter of "his" clown dolt running off to Bangkok for whatever. It escapes your simpleton mind that perhaps the Modi govt. critic did not vote for the dolt and his party in the last two elections and perhaps he too at some point believed in Modi's smart city promises in 2014 and voted for him only to find in 2019 that forget about smart cities, half of his country's cities were sinking during the Monsoons.

Fourthly, having lived in India all these years and closely seen the downfall of left leaning politics in India along with the Congress, I would suggest that you and your kind leave the space open for opposing views without deriding with your smarta$$ sounding sarcastic comments. This is the very approach the left leaners used to take when they completely deprived those questioning their ways of being able to respectfully challenge the extant dispensation in the country and they were replied to in kind by the country including myself by bring the BJP into power with a huge mandate in 2014. If you and your like follow the same formula now, the downfall of this thought process and it's proponent party is also not far away.

And please don't taunt me about what I do with my time on this forum. It's really nobody's business, to put it mildly and as respectfully as I can. I come here to pass my time and to tackle some propaganda against my country and to learn somethings about our neighbours, the good, the bad and the ugly. I am quite satisfied with that.

He has some point.
It is a normal measure to inject money in to market during recession.
But here in Indias case it was different .
From 2008 to 2014 India injected 52 lakh crore ,but nothing serious result couldnt see from that .
Why is that?

 

[Nilgiri]

One advantage of NREGA was its increased the wage scale in villages .
Still everything was just non productive .
What would be return to economy if some talkative ladies cuts a bunch of grass or twigs in rural remote area ?

Look. If free market is not causing the employment, its bad idea for govt to go in and employ people for a long list of reasons (same argument why PSU/SOE is also a big stench in the end generally). Main one being basic common sense of what free market even is (the exchange of goods and services by free will voluntary action...the most root sustainable and conservative thing known to mankind in history that require no violence and top down authority). Like you mention just here, what is the basic check and balance in a productive outcome of the time and money spent if free market is not dictating it? Our govt is THAT good with zero corruption and quality oversight to do it?

Much better is to keep letting actual free market expand to rural (insulated areas) to create sustainable demand there....and creating the best standards, legislations, effective institutions etc to ensure this....and monitoring/improving the application of these. Rather than set a fuzzy grey window of micro and macro levers....for simply govt + sleaze sake (and vote buying/captive vote crap).

A govt should IMO, purely be involved (at most in economic realm) in public infra that can be equally accessible to whole population (hence why we have govt for national security purpose + admins + central courts too...and why a constitution and republic exists FIRST...and OVER the system of democracy).

When there is an argument for selective wealth transfer by way of govt force (which is essentially what taxing of incomes and wealth...and spending on other specific groups of people in a NON-equally accessible way...does)...it should be STRICTLY applied to SPECIFIC objectives in the alleviation of absolute poverty. The argument being that absolute poverty is such a complete clear burden on actual operation and permeation of the free market.

What lefties have stupidly (or quite possibly intentfully) done is let this expand to whole argument of "economic inequality" (which should NEVER EVER be something a govt should get involved in more broadly...given the end argument is authoritarian equal result instead of equal opportunity) and built grandiose arguments on the vaguest of vague spending programs (like this NREGA crap...expecting mere and vague "employment" to address the root cause of rural distress) and then their other big lever is supply side subsidy (favouring the biggest consumers by far - who are never the actual poorest people). Both of these favour simple big govt for big govt sake and DO NOT have any effective result on alleviating the actual absolute poverty in the end.

Compare that to actually directly putting money into the absolute poor's pockets, or providing specific capex to serve a specific goal (in the idea of teach a man to fish instead of giving him a fish)....be it aadhar related PDS, toilets, banking, electricity, health, knowledge creation etc etc.

That is why modinomics (even the arguably "lefty" stuff of it) is far more worthy than sardarnomics of previous 10 years....given its specific targetting (which reduced both the fiscal burden and yet improved the delivery drastically)....rather than just funding big govt sleaze and big consumer sleaze with taxpayer money (and the larger cost of doing that).

This is also why people too reliant on sardar kind of blab scratch their heads at election result mandate increase.

Singh wasnt the one it was that thief Chidambaram that called the shot in turn invited all those black money and created an economic activity on the basis of real estate .

I just use silent sardar as figure of speech/symbol for that entire admin. I know very well who the actual worst cretins in the actual admin were. But also responsibility/accountability lies with PM in the end.

 

[pothead]

It did install good economists as RBI Governors instead of yes men.

Does this list include RaghuRam Rajan as well?
After all, this guy oversaw one of the most corrupt period in RBI history.

Just trying to gauge on what your "good economists" title represents..

 

[SrNair]

Does this list include RaghuRam Rajan as well?
After all, this guy oversaw one of the most corrupt period in RBI history.

Just trying to gauge on what your "good economists" title represents..

He is a great economist so is the Singh .
But is there any worthiness to their abilities when idiots like Italian lady and Chidambaram calls the real shot

 

[AndrewJin]

Blatantly anti-hindu BS.

Only 2 months away from 2020, the hindu supa powa goal proclaimed by the dead hindu president
will 100% be achieved.

 

[pothead]

He is a great economist so is the Singh .
But is there any worthiness to their abilities when idiots like Italian lady and Chidambaram calls the real shot

Credentials of great economist is in their deeds, so, what exactly did they achieve? Any one thing that stands out?
Manmohan as PM and RaghuRam Rajan as RBI gov oversaw the most corrupt banking phase in our history.

People got banking loans worth hundreds of crores over a phone call by PMO for god sake.

I can't believe we still pretend these 2 were good for India in anyway.

If one must really put a nail in coffin, days before Modi govt was to take over Rajan approves 80:20 gold scheme,
His blatant corruption was obvious to a blind and deaf person.

 

[Nilgiri]

Welcome back @pothead , long time no see

 

[Hakikat ve Hikmet]

India needs to softened, and Pak needs to be hardened further before the final round....