Unemployment Rate Highest In 45 Years, Reveals Stalled Report: 10 Points

[Nilgiri]

So if you are working for others then it's employment but if you are working for yourself then it's unemployment?
I never understood this theory and see it as a facade. This Govt. has many flaws but opposition never come out of their self created world.

I just want more data, as much as possible (rather than sticking with status quo just because its status quo). But the ones wanting as few jobs to be the reality, want as little data on it as well. It is kind of confusing to me.

Shouldn't we all be for more data to get to the bottom of the truth? Or is QES sampling of >10 sized enterprises that represent 1% of all enterprises be the absolute gold standard? I thought we were all about not entertaining the 1% at the cost of the reality of the 99%?

Now there is a poll that says NDA gets about 250 seats and needs about 20 more to make govt come the election time. If that pans out as is, I bet you a bunch of people in this forum will say there was EVM tampering again lol. There is not much consistent standards and debate when it comes to these emotive things (that govts are supposed to fall on for the clarion call of some narrative). Fight perceived emotion of le autre with emotion of thyself seems to be the answer increasingly.

 

[Joe Shearer]

can you please share a few ?

https://www.business-standard.com/a...-1-in-2017-18-nsso-survey-119013100053_1.html

https://www.businesstoday.in/curren...ct-in-2017-says-nsso-survey/story/315420.html

So he shared a few. Now it's your turn to quote Panchajanya or something on those lines, and prove that he's laughably wrong.

 

[Chanakyaa]

The practical and hard to digest truth is that hardly a couple of million get employed each year. Do you want the break-up?

I don't oppose the revelation of the Truth rather , selective suppression and highlighting of the same.

Hint : fiscal deficit in 2013.

Btw, My Uncle contested his last election with a Congress Ticket

 

[Sam.]

I just want more data, as much as possible (rather than sticking with status quo just because its status quo). But the ones wanting as few jobs to be the reality, want as little data on it as well. It is kind of confusing to me.

Shouldn't we all be for more data to get to the bottom of the truth? Or is QES sampling of >10 sized enterprises that represent 1% of all enterprises be the absolute gold standard? I thought we were all about not entertaining the 1% at the cost of the reality of the 99%?

Now there is a poll that says NDA gets about 250 seats and needs about 20 more to make govt come the election time. If that pans out as is, I bet you a bunch of people in this forum will say there was EVM tampering again lol. There is not much consistent standards and debate when it comes to these emotive things (that govts are supposed to fall on for the clarion call of some narrative). Fight perceived emotion of le autre with emotion of thyself seems to be the answer increasingly.

Congress instilled Priyanka madam in UP and i know she has been there behind curtain for long time but everyone know i despise King & Queens culture and know many valuable congressi's feels they will never achieve what they could have.

Billion of people in India and Congress evolve around one family this is the murder of democracy and my guts are wrenched. My decision is final now and my vote going to NDA.

 

[Chanakyaa]

So he shared a few. Now it's your turn to quote Panchajanya or something on those lines, and prove that he's laughably wrong.

I'm sorry to disappoint you mate, I'm not a Sanghi.
I would rather wait for better research and sources than firing all the guns for/against the motion.

 

[Nilgiri]

Read the Hindu article .

Read the Hindu?....the Hindu has long stopped being any kind of neutral analysis esp for economics. Its a far leftie rag now...the stench of sulphurous bias is everpresent in it.

I'm talking about getting the actual imprint in numbers (rather than the rupee levels which will take time to filter through, not to mention we would have needed a non-demonetisation universe that doesn't exist now to fairly compare anyway):

https://www.dailypioneer.com/2018/columnists/improving-india---s-tax-compliance.html

The CBDT has reasons to cheer as there has been a decent improvement in those coming out to declare their incomes. Post demonetisation, there has been a 25 per cent growth in IT returns and 17 per cent rise in corporate returns. The CBDT noted an 80 per cent growth in the number of returns filed in the last four financial years “from 3.79 crore in FY 2013-14 (base year) to 6.85 crore in FY 2017-18”. There has also been a 65 per cent rise in the number of persons filing return of income — from 3.31 crore in 2013-14 to to 5.44 crore in 2017-18.

....that leaves us with only about 10 crore people who should be paying taxes. With 6.85 crore under the tax net, there may be some reasons to cheer.

Now please tell me how many you would have envisaged joining the tax net without demonetisation? Or what would have been the better policy to get these folks at similar impulse rate into the net?

Congress instilled Priyanka madam in UP and i know she has been there behind curtain for long time but everyone know i despise King & Queens culture and know many valuable congressi's feels they will never achieve what they could have.

Billion of people in India and Congress evolve around one family this is the murder of democracy and my guts are wrenched. My decision is final now and my vote going to NDA.

Anyways the long term solution must be to create a govt that operates well regardless of the leaders voted in. I see several positive signs regarding that.

I must go to bed now , you all continue the discussion in interim. Take care all.

@Cherokee @Joe Shearer @jbgt90 @XiNiX et al

 

[Cherokee]

Read the Hindu?....the Hindu has long stopped being any kind of neutral analysis esp for economics. Its a far leftie rag now...the stench of sulphurous bias is everpresent in it.

I'm talking about getting the actual imprint in numbers (rather than the rupee levels which will take time to filter through, not to mention we would have needed a non-demonetisation universe that doesn't exist now to fairly compare anyway):

https://www.dailypioneer.com/2018/columnists/improving-india---s-tax-compliance.html

The CBDT has reasons to cheer as there has been a decent improvement in those coming out to declare their incomes. Post demonetisation, there has been a 25 per cent growth in IT returns and 17 per cent rise in corporate returns. The CBDT noted an 80 per cent growth in the number of returns filed in the last four financial years “from 3.79 crore in FY 2013-14 (base year) to 6.85 crore in FY 2017-18”. There has also been a 65 per cent rise in the number of persons filing return of income — from 3.31 crore in 2013-14 to to 5.44 crore in 2017-18.

....that leaves us with only about 10 crore people who should be paying taxes. With 6.85 crore under the tax net, there may be some reasons to cheer.

Now please tell me how many you would have envisaged joining the tax net without demonetisation? Or what would have been the better policy to get these folks at similar impulse rate into the net?

India managed a second consecutive year of strong growth in its direct tax collections in FY18. Net collections (gross mop ups minus refunds) increased by 17.1% in the just concluded fiscal year, to ₹9.95 lakh crore.

This was after a 14.6% increase in the mop ups in FY17. It should be noted that income tax rates have largely stayed put in the last couple of years, with only minor increases in the surcharge and cess components.

Now, compared with the first two years of the NDA rule, the last two years’ numbers are very healthy. In FY15 and FY16, India’s direct tax kitty witnessed growth of just 8.9% and 6.9%.

But seen from a historical perspective, a 14% or even 17% annual increase in direct taxes isn’t extraordinary for the Indian economy.

For instance, in fiscal year FY14 (under the UPA government), direct tax collections rose 14.3%. In FY11, they had expanded 18%. Clearly, these numbers were achieved without any tinkering with high-value currency notes.

 

[Chanakyaa]

Read the Hindu?....the Hindu has long stopped being any kind of neutral analysis esp for economics. Its a far leftie rag now...the stench of sulphurous bias is everpresent in it.

I'm talking about getting the actual imprint in numbers (rather than the rupee levels which will take time to filter through, not to mention we would have needed a non-demonetisation universe that doesn't exist now to fairly compare anyway):

https://www.dailypioneer.com/2018/columnists/improving-india---s-tax-compliance.html

The CBDT has reasons to cheer as there has been a decent improvement in those coming out to declare their incomes. Post demonetisation, there has been a 25 per cent growth in IT returns and 17 per cent rise in corporate returns. The CBDT noted an 80 per cent growth in the number of returns filed in the last four financial years “from 3.79 crore in FY 2013-14 (base year) to 6.85 crore in FY 2017-18”. There has also been a 65 per cent rise in the number of persons filing return of income — from 3.31 crore in 2013-14 to to 5.44 crore in 2017-18.

....that leaves us with only about 10 crore people who should be paying taxes. With 6.85 crore under the tax net, there may be some reasons to cheer.

Now please tell me how many you would have envisaged joining the tax net without demonetisation? Or what would have been the better policy to get these folks at similar impulse rate into the net?

India's History is full of experiments. Most of them have been deemed 'fit for the time'.

I Truly appreciate Nehru,'s (late) moves to Establish IITs and ISRO along with giving freedom to Bhabha that resulted into TIFR... BARC and Indian Nukes and Breeder Reactors.

But, The Glass is always half empty....

I wish they could get in the roots of "Maruti" whose real objective was anything but giving an ordinary man his own car...The People's car.

https://www.motoroids.com/features/...tory-of-an-illicit-extraordinary-love-affair/

A few decades down the lane.... Maruti is in a League of its own.

I'm willing to accept DeMo as failure as along as someone tells me who ACTUALLY benefitted from the same.

 

[Nilgiri]

India managed a second consecutive year of strong growth in its direct tax collections in FY18. Net collections (gross mop ups minus refunds) increased by 17.1% in the just concluded fiscal year, to ₹9.95 lakh crore.

This was after a 14.6% increase in the mop ups in FY17. It should be noted that income tax rates have largely stayed put in the last couple of years, with only minor increases in the surcharge and cess components.

Now, compared with the first two years of the NDA rule, the last two years’ numbers are very healthy. In FY15 and FY16, India’s direct tax kitty witnessed growth of just 8.9% and 6.9%.

But seen from a historical perspective, a 14% or even 17% annual increase in direct taxes isn’t extraordinary for the Indian economy.

For instance, in fiscal year FY14 (under the UPA government), direct tax collections rose 14.3%. In FY11, they had expanded 18%. Clearly, these numbers were achieved without any tinkering with high-value currency notes.

I'm not talking impulse returns of the rupee level (I already referred to that as needing time to percolate given what my aunt who worked in Income Tax dept her full career has told me about the likely time involved in such things).

What I am talking about is the impulse increase in physical peoples in the tax net. You do realise there is now commensurate paper trail for these new entrees and the significance of it.

I will look at what the previous growth levels were like regarding that base when I get back to this thread later.

I bid you adieu and bonne nuit.

 

[Chanakyaa]

India managed a second consecutive year of strong growth in its direct tax collections in FY18. Net collections (gross mop ups minus refunds) increased by 17.1% in the just concluded fiscal year, to ₹9.95 lakh crore.

This was after a 14.6% increase in the mop ups in FY17. It should be noted that income tax rates have largely stayed put in the last couple of years, with only minor increases in the surcharge and cess components.

Now, compared with the first two years of the NDA rule, the last two years’ numbers are very healthy. In FY15 and FY16, India’s direct tax kitty witnessed growth of just 8.9% and 6.9%.

But seen from a historical perspective, a 14% or even 17% annual increase in direct taxes isn’t extraordinary for the Indian economy.

For instance, in fiscal year FY14 (under the UPA government), direct tax collections rose 14.3%. In FY11, they had expanded 18%. Clearly, these numbers were achieved without any tinkering with high-value currency notes.

I would say, It's like asking Sanjay can there be no better means to control population without forced "nasbandi" ? I actually have deep respect(?) for him , for his bold moves ( not ones he used used to make in JNU campus though ). Perhpas India did need the likes of Sanjay to achieve what China could do.

For that matter Even Indira was Right in 71 and 84 ?
I feel one has to introspect the honesty of the leader. If she was right with 71 why would she really get wrong in 84 ?

Apparantly ...Even Lord Rama has committed a few wrongs. So Have Gandhi's and Nehru's and.....let's say even Modi.
But why selective criticism based on false narratives ?

I wish Congress has focused of REAL wrongs by Modi rather Rafale, Award Wapaasi n all.

526 Rupaye ka rafale ? Matlab, Chutiya Samajh rakhaa hai kya Yar ? I can list far far more better points where Modi has been ACTUALLY wrong, but thats another dimension all together.

 

[Joe Shearer]

I just want more data, as much as possible (rather than sticking with status quo just because its status quo). But the ones wanting as few jobs to be the reality, want as little data on it as well. It is kind of confusing to me.

Shouldn't we all be for more data to get to the bottom of the truth? Or is QES sampling of >10 sized enterprises that represent 1% of all enterprises be the absolute gold standard? I thought we were all about not entertaining the 1% at the cost of the reality of the 99%?

Now there is a poll that says NDA gets about 250 seats and needs about 20 more to make govt come the election time. If that pans out as is, I bet you a bunch of people in this forum will say there was EVM tampering again lol. There is not much consistent standards and debate when it comes to these emotive things (that govts are supposed to fall on for the clarion call of some narrative). Fight perceived emotion of le autre with emotion of thyself seems to be the answer increasingly.

I read this with considerable amusement tinged with melancholy.

If it is your stand that we are doing well, that industry is firing on all cylinders, that a reasonable percentage of the work-force coming into the market each year is employed (and we can discuss 'reasonable'), that wages are at a life-sustaining level, and that those not getting paid wages have earned income that again sustains them, that government collects taxes imposing a tax rate that makes it worthwhile for people to go out and set up more enterprises, that government gathers taxes efficiently, and finally that the government spend addresses the essential problems of poverty and malnutrition, then we should settle down to the joys of self-actualisation and stop worrying about what harm is being done to our processes and systems. If not, we have cause for worry, isn't it?

So if you are working for others then it's employment but if you are working for yourself then it's unemployment?
I never understood this theory and see it as a facade. This Govt. has many flaws but opposition never come out of their self created world.

I agree with you agreeing with Modi that self-employment is an existing category in the count that neither of you quite understood.

I don't oppose the revelation of the Truth rather , selective suppression and highlighting of the same.

Hint : fiscal deficit in 2013.

Btw, My Uncle contested his last election with a Congress Ticket

And my uncle had BJP leanings. Wanna trade? except that I wouldn't know what to do with a Congress follower in the family.

I don't oppose the revelation of the Truth rather , selective suppression and highlighting of the same.

Hint : fiscal deficit in 2013.

Btw, My Uncle contested his last election with a Congress Ticket

Since you mentioned the fiscal deficit, you do realise how the genius Jaitley is doing with his target to reduce the fiscal deficit? And what arm-twisting is going on even as we speak for a face-saving windfall gain to neutralise the margin of failure?

 

[Darwin]

Dont worry pappu will win in the lok sabha elections and with his experience in governance , India will again become the Switzerland it was before modi !

 

[Chanakyaa]

I read this with considerable amusement tinged with melancholy.

If it is your stand that we are doing well, that industry is firing on all cylinders, that a reasonable percentage of the work-force coming into the market each year is employed (and we can discuss 'reasonable'), that wages are at a life-sustaining level, and that those not getting paid wages have earned income that again sustains them, that government collects taxes imposing a tax rate that makes it worthwhile for people to go out and set up more enterprises, that government gathers taxes efficiently, and finally that the government spend addresses the essential problems of poverty and malnutrition, then we should settle down to the joys of self-actualisation and stop worrying about what harm is being done to our processes and systems. If not, we have cause for worry, isn't it?



I agree with you agreeing with Modi that self-employment is an existing category in the count that neither of you quite understood.



And my uncle had BJP leanings. Wanna trade? except that I wouldn't know what to do with a Congress follower in the family.



Since you mentioned the fiscal deficit, you do realise how the genius Jaitley is doing with his target to reduce the fiscal deficit? And what arm-twisting is going on even as we speak for a face-saving windfall gain to neutralise the margin of failure?

I'm not sure, about the capabilities of Jaitley but please enlighten me how can that be better with anything but fake aloo and Sona promises and mass scale loan waivers ?

Aganin, I'm not sure if the following data is true or not ( for fiscal deficit...) Its states something different :

https://tradingeconomics.com/india/government-budget

 

[Han Patriot]

Here comes another idiot

Nobel-winner Paul Krugman warns India story could end with mass unemployment
https://economictimes.indiatimes.co...th-mass-unemployment/articleshow/63344124.cms

These geniuses really have no idea where they are heading towards, still jumping in euphoria to overtake China in population. With industry 4.0, automation will replace Lot of workers, alot of Chinese factories has cut workers by almost half and yet productivity increased.

Mate that's a very Pakistani Argument ( shifting the goalposts). Just like Pakistan claims they won 1965 war by defending Lahore .

Goal of Demonetisation was to make black money invalid . Did not happen . 99 percent of the notes returned (RBI source) . Now it is being claimed it was for tax compliance.

Regarding Tax collections read this : https://www.thehindu.com/business/what-demonetisation-did-to-tax-collections/article23550004.ece

The goal was not to formalise the economy so don't make it one . There are far superior ways to do it .

It's sheer incompetentence, lots of people lost their jobs, we are talking about people already starving losing their day wages just because an idiot did not know how to handle replacement of new notes and new denominations. You ever heard of people printing bigger denominations to reduce money laundering? According to Indian logic, it makes sense. They will give alot if excuse, it was a failure, they will tell you it succeeded.

Ok, very good argument on Indian mass unemployment problems, two thumbs up.

You realise he lost the argument when he startgs oing Pooh again. Hahahah

Regarding Black Money Modi danced on the day he announced it screaming he has overnight made all the black money stored in people houses invalid . THAT DID NOT HAPPEN. There has been no tectonic shift in tax collections because of demonetisation . Read the Hindu article .

When his inner circle realised the stunt has failed they come with a new rejig every few months from the goal was to make india a cashless society (lol) to dramatically improve tax compliance (lol, Read the Hindu Article again) . Now it is being claimed the goal was to fight terrorism(lol)as well .Next it will be claimed it was for Ram Mandir and to safeguard Hinduism .

We all know what it actually did.

Exactly my point, I still remember debating with some Indians here, all were going nuts praising Modi for his masterstroke move. As if this chaiwalla was some sort of bharati saint.

 

[Jackdaws]

How many daily wage laborers got screwed by demonetization? The booming real estate sector has become a nightmare for builders and buyers alike. But hey, Sabarimala and Ram Mandir.