Indian Economy : News,Discussions & Updates
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This government is all out optics with no real content. Deliberate impression if tax rates are slashed, trying to fool masses till they know what hit them.
Never going to vote these idiots again.
Are you native of Bangalore? If not, you too is a muftkhor for Bengalorites.
Anyways, do you have any input on revenue generated in Bangalore to rest of the Karnataka?
No , i am from Maharashtra that contributes highest to the national exchequer. More than double the next highest. Yet we live on the mercy of the politically powerful states.
And regarding Banglore'- KA and KA - India comparison is flawed.
For example KA state contributes to development of Banglore ,in return Banglore pays highest taxes to the state government which spents in different regions of the state.
What is the contribution of the BIMARUs towards cities like Banglore? Nothing isnt it. So why should performing and contributing states get less in return???
Theres no problem in the centre revenue getting transferred more to BIMARUs than performing states but States part shouldn't get reduced
So are you from Mumbai? If not, then perhaps a muftkhor for Mumbaikars.
So dude, Karnataka state contribute to development of Bangalore, I have one question for you. Did India, our nation, contribute to development of Karnataka/Bangalore?
Where will you stop? Shall all tax payer of this country start calling ones not falling in taxable category as Muftkhors? Whats your definition of a nation or even a family?
How about all rich states ask for an independent country? Lets do it.
I dont mind if more funds go to the BIMARU states but why should performing states like Karnataka get their part reduced???
Say if states contributes 40% to the centre and keeps 60% to itself. If the BIMARUs require more funds then it should go from the 40% contributed and not reducing the 60% that is kept for itself.
How you allocate more funds to someone without reducing from other?
Inclusive growth can only be achieved if we take even the weakest of society with us. I am seeing this very dangerous trend of creating differences/hatred based on economical well being of states, and rate this as biggest threat to integrity of India.
People/States who are taxed more should not be concern of tax but raise questions on how that extra tax is used to empower these states so that they become lessor dependent in future. What I see is contempt and political hatred.
How much you pay? As an individual? Whatever you pay there are people on this forum alone who pay many times more than you, so you are a BIMARU freeloader for them (by your own logic).
Stop talking nonsense, every individual pay tax as per slab they fall in, nobody pays extra as favor to country so get down from your high horse and stop using colorful language for other states. Unless you pay highest tax here you got no right to call others inferior, now sit down and behave.
So as per your logic probably only Ambani as the right to speak on this matter?
And as India is divided into states and union territories , i will use a state as a reference rather than an individual.
Why dont u calculate per capita tax each state contributes.
U dont have to get offended due to use of the term BIMARU , i didnt invent it , an economist Ashish Bose did it in 80s. And it was invented to highlight certain states only.
Even i wish upliftment of the BIMARU states but not at the cost of other performing states.
India Manufacturing Growth: India's January manufacturing activity hits near eight-year high as orders jump | India Business News - Times of India
Please go thru my earlier posts about the economic recovery predictions. My posts have come true. I had stated that in 3rd quarter, economy will start growing again and we will have an upwards trajectory. By the end of 2nd quarter of next fiscal, we will see growth to rebound to pre 2018 levels.
Please go thru my earlier posts about the economic recovery predictions. My posts have come true. I had stated that in 3rd quarter, economy will start growing again and we will have an upwards trajectory. By the end of 2nd quarter of next fiscal, we will see growth to rebound to pre 2018 levels.
Seriously what was that guys.... This govt. have accepted in parliament through their new slabs announcements that they have no Idea how to run economy.
Do not go by what third rate economists are saying. This budget lays down the foundation for a 10 trn economy. Just wait for 2022, you will see GDP growth above 9%. Our financial systems and markets were ill prepared to undertake growth to be a 5trn economy. These structural changes to our financial system and infrastructure were needed urgently.
But in the short term we are in some troubled waters. There was a zerohedge article today which gives a pessimistic view. Since I don't know much economics, I'll leave it to you to judge:
India Announces $40 Billion Emergency Fiscal Injection As Economy Plunges
In normal circumstances economy would have been back to growth by second quarter. But the Coronavirus has the potential to swing the growth either way. If it’s not contained within next 4 weeks, it could trigger global recession. However, a trade ban with China can be an opportunity for India to emerge as an alternate supplier of goods. After every recession India witnessed a flood of outsourced jobs from US. This time the same might happen in manufacturing. It depends on India how much they can absorb.
Every crisis in the world has benefitted India starting from Y2K problem to SARS to 2008 Lehman brothers melt down to this coronavirus. Do you know which nation is supplying the largest number of medicines and masks to China? Its India. Our HIV medicines are even procured by UN. Now that has emerged as the cure for this virus. Imagine the boost for our exports. Even the cell phines manufactured in China will not be bought by people as they might have this virus riding on the body of the cell phone as a contaminent.
If trade with China gets a jolt it will seriously boost our MSME sector. Theres a lot of things which our MSME can invest in and replace Chinese.
India absorbed tech outsourcing really well after both recessions (2001 and 2009). It's in a good position to snatch some share of global mobile phone assembly as well. Apple is moving towards ramping up assembly of iPhones by both it's suppliers i.e. Wistron and Foxconn. But there are tons of other segments like low tech goods where India has no/little presence in global export arena. Currently Asean countries are rapidly gaining ground in those segments. India must move fast to grab at least some share before it's too late.
Not necessarily. In last one year, it's mostly Asean countries and Mexico who have gained from the trade war between US and China.
The same India also have a system in place, instituted finance commission to distribute tax share to states as per ideals enshrined in 'Constitution of INDIA'. That administrative division is not grouping of people and it is broken as per need, again with the help of Indian Constitution, it has no absolute value, but 'Citizen of India' does, they are 'Sovereign' not Maharashtra or whatever.
Some joker tried pulling the same trick before too, I answered comprehensively about demography and geography. Divide all the natural resources, minerals, ports, access to sea to all states EQUALLY and see who becomes BIMARU. Whatever all states are, they are due to advantages/disadvantages of Geography and demographic dividend because of it.
If Geography is putting Himalayan states at disadvantage they will need reparations from states sitting on all the minerals and trade routes, that's how country function, all over the world, right from the time of Kingdoms.
So? Ashish Bose 'invented' it so what? Who is he? Kejriwal invented 'psychopath' for Modi, is this how Modi is addressed?