New Dead Line: India must try to become developed country by 2030: Jaitley

[Mista]

Indian economy would be between 6-8 times of what it is today in 15 years ,even if it grow at same rate as it is growing today depending on inflation. For Indian economy to just double in 15 years, Indian economy has to actually shrink in real term by 1.27%, rather than grow at 7% as it is growing today.

India is indeed special. She can simply inflate her economy to double the income, even with negative real growth. Because pretty nominal figures are more important than raising living standards.

Respect.

I don't think this point has anything to do with developed status. Social welfare could be morally corrosive to society and avoided as proven by outcomes in Europe and Japan.

Japan is still a very hardworking, self-reliant and productive society. Don't put them as the same basket with the Europeans just because they have a stagnant economy.

 

[AndrewJin]

India is indeed special. She can simply inflate her economy to double the income, even with negative real growth.

Respect.



Japan is still a very hardworking, self-reliant and productive society. Don't put them as the same basket with the Europeans just because they have a stagnant economy.

China perhaps needs at least 2-3 decades of secondary industrialisation to reach Japan's manufacturing maturity level of machinery, precision equipment, automation faculties......I'm not sure where their confidence comes from when you can see nearly zero their own branded products in the developed countries.

Well for us, it takes time, step by step. The process will be extremely painful and calls for East Asia's outstanding spirit of perseverance.
One important achievement was exporting our Tunnel Boring Machines to Sydney for their metro project.

Currently Asia's largest earth pressure balance shield machine in Shenyang North Heavy Industry Group Co. assembly plant is installed, and a one-time test is successful, it will be shipped to Hong Kong recently.

The diameter of 14.1 m shield machine, equipment total length of 100 meters, will apply to Hong Kong Liantang road tunneling project. NHI business orders in the first quarter reached 20, of which exports to Australia, Europe, the Middle East amounted to more than a dozen of billions of dollars of orders.

 

[Mangus Ortus Novem]

China perhaps needs at least 2-3 decades of secondary industrialisation to reach Japan's manufacturing maturity level of machinery, precision equipment, automation faculties......I'm not sure where their confidence comes from when you can see nearly zero their own branded products in the developed countries.

Well for us, it takes time, step by step. The process will be extremely painful and calls for East Asia's outstanding spirit of perseverance.
One important achievement was exporting our Tunnel Boring Machines to Sydney for their metro project.
View attachment 323461 View attachment 323460 View attachment 323462
Currently Asia's largest earth pressure balance shield machine in Shenyang North Heavy Industry Group Co. assembly plant is installed, and a one-time test is successful, it will be shipped to Hong Kong recently.

The diameter of 14.1 m shield machine, equipment total length of 100 meters, will apply to Hong Kong Liantang road tunneling project. NHI business orders in the first quarter reached 20, of which exports to Australia, Europe, the Middle East amounted to more than a dozen of billions of dollars of orders.

Let your deeds speak the truth when the task is accomplished.

It is Virtue to speak with silence.

Tall claims are not for China. A long way to go and even a longer way to go to keep what is achieved.

Let others be super powers...let us just create Harmony under the Heavens with the Community of Prosperity.

 

[Zee-shaun]

Isn't there any new vision 2030 video this time?
I loved the previous one shot in Dubai

On a serious note, no India won't be a developed nation by 2030 untill she reforms the agri sector and lifts the masses (800+ million) from poverty.

 

[Echo_419]

It's a big difference between setting achievable targets and setting unrealistic target that is nothing but boasting.

Indians is undeniable having the title of king of bragging

Middle income status is achievable by 2030

Isn't there any new vision 2030 video this time?
I loved the previous one shot in Dubai

On a serious note, no India won't be a developed nation by 2030 untill she reforms the agri sector and lifts the masses (800+ million) from poverty.

Actually 1.2 billion people are in poverty in India

 

[Hakikat ve Hikmet]

Wasn't he the defense minister during the stand-off????

 

[ashok mourya]

Every old,widow,below provertyline,handicap people get monthly pension, nearly free rice and kerosene now LPG gas,free homes,electricity...so why people will think of pension plan,they know they will get lot being poor,older etc..

With out target we can not achieve anything..make a target and try to reach there systematically...developed nation now look poorer than India...we have contesting every field in world top 10 that's not a poor thing for a such a diverse country like India.

 

[sankranti]

Trust Jaitley to make some inane statement like Rahul Gandhi.

Sounds like "women empowerment" all over again.

Questions to Indian members: If there is no universal pension plan for all Indians, how Indians live their retirement life? What is the legal retirement age for Indians?

Is there a universal pension plan for 100% of chinese ?

 

[prashantazazel]

Questions to Indian members: If there is no universal pension plan for all Indians, how Indians live their retirement life? What is the legal retirement age for Indians?

My dad has a government job. They get pension (half the salary). Plus there is provident fund.
Most youngsters would have to save money themselves, or rely on their Provident fund accumulation.
People typically work till 58-62.
Docs like me work till we die.

Thanks for the reply.

Unorganized sectors account for 80-90% of Indian work force, so for large majority of Indians, there is no concept of retirement if they fail to save enough money for the restwhat you of their life? No social safety network at all

Prices in India for poor folk.
Rice-2rs per kg (30kg for a dollar, enough for a family of 4/5
Pulses -similar. Vegetables- whatever grows around.
It is damn cheap to live here.
My dad earns around 1 lakh per month (civil engineer, government job).
His expenses-less than10,000 per month.
Most Indians love simple lives.

 

[Dungeness]

Wasn't he the defense minister during the stand-off????

He was just moonlighting as the Defense Minister of India.

 

[xyxmt]

The western world has become overpriced because of market economics. Don't use nominal per capita to compare China or India with the developed world, use PPP, because Jaitley is talking about cost of living, not global financial power.

In 15 years, we can be a $30T PPP economy even with 8% growth. That's $25,000 per capita PPP. That's a pretty significant change and such a change is obviously visible, we already have a 300 million strong middle class. The middle class grew 150% between 2000 and 2015, it can grow 300% between now and 2030. That would cover most of the population.

We don't have to achieve western standards of living for everybody by 2030, we can't, but the current middle class can easily reach western standards by 2030. And we are talking about more than 400 million people, that's more than the population of the US.

Your problem is a huge 50% poors of India's population are not getting any benefit of 8% growth and all the increase in PPP, only Abanis and Tatas of India are

 

[Tauren Paladin]

When reading this thread, i just realized it was a year old LOL. No way it'll happen 13 years from now. They won't even achieve a middle income by then.

 

[ashok mourya]

Logically India as a nation developed to world developed standard but not all Indians.India as a nation rank 3rd largest economy in PPP/7 the in nominal,4th largest armed forces, 3rd largest in highway and road ,4 the in rail infra,self sufficient in agriculture, 3 rd or 4 the in race to space.,.But when we come to our poor's yes we are in the league of poorest nation too.

 

[21stCentury]

2030? Someone please inform that author that India has been a "superpower" since 2012!

http://economictimes.indiatimes.com...ofinterest&utm_medium=text&utm_campaign=cppst

India to become superpower by 2012: Kalam

UDHAGAMANDALAM: Former President A P J Abdul Kalam today lauded ISRO's scientists for successfully launching the PSLV-C9 to put 10 satellites in orbit.

Besides, the Chandrayaan-I unmanned moon mission by the year end would add another feather in the country's space programme, Kalam, here to participate in a school function, said.

India has become very advanced in space technology, he said, adding the country would become a superpower by 2012.

"Though I have envisioned India to become a superpower by 2020, the attitude and the confidence of the youth, to conquer everything in the right spirit, would make the country a global leader and super power within five years," Kalam told reporters.


Why does no body in the world take India seriously? Why does everyone think Indians are the joke of the world? They are the most powerful superpower the world has known!

 

[randomradio]

Your problem is a huge 50% poors of India's population are not getting any benefit of 8% growth and all the increase in PPP, only Abanis and Tatas of India are

Incorrect. There is always criticism that govt spending is mostly focused on the poor. Health and education are primarily pro poor. There has been a recent spate of farm loan waivers as well.

In fact, if the govt wasn't pro poor, then India would have been far richer because all of the money made in the country is from the middle class, so focusing on the middle class, like China did, would have provided more growth. But it's obvious that 50% of the population = 50% of the votes.