Indian Economy : News,Discussions & Updates
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The Chinese grew quickly, but from a lower base. India is expected to grow faster than China with a higher base.
Plus China's main growth was debt-fuelled, ours is clean. We have 30-40 years of high growth potential and then another 5-10 years of debt-fuelled growth before we run out of steam like China.
We have Congress to thank for that. Keep the people poor and uneducated, so they can better use votebank politics and divide and rule policies.
Useless graduates has a lot more to do with our poor highschool education rather than college. In colleges, everybody's taught pretty much the same thing, it's largely standardised. So, those coming out of good highschools fare better than the ones with poor schooling.
Population growth and all the newborns without enough school education. Although poverty decreased during the time, the development of intermediaries like schools failed to keep up. Congress couldn't win elections if the population was educated after all.
You don't need competence to set up schools. Nehru showed such competence, which is why 80% of women were literate by the end of his era. So it's not like they didn't have a history of doing it.
Did not answer the question.
BJP is doing exactly the same. Do anything for power. No change in educational output in last decade. Same goes for india shining bjp.
But again. I was not asking who” is responsible. Just stating basic facts.
In 2000, US GDP was $10T and China was $1.2T. We are in the same boat with respect to the US and China today.
So if you compare whatever metrics China had versus the US in 2000, it will look like an even more daunting task than what we have to do, 'cause the other 2 are stagnating. It's worse for China because of their non-existent population replacement rate. The US and Europe are compensating with immigration, but China isn't prepared to do that.
BJP is reforming the education sector. They have taken a top down approach. So university level education first, and then school.
National Education Policy 2020 - Wikipedia
It's a major overhaul of school education.
A list of Modi's accomplishments.
Narendra Modi turns 72: Major changes in education sector under PM and way ahead - Read details
Narendra Modi turns 72: The new education system aspires to implement radical reforms in the classroom and higher education systems. The replacement of the education system, which is currently 34 years old, is another significant step in enhancing Indias standing as a worldwide power.
Read the conversation again, china cleaned up before going to high growth trajectory. We are yet to. Which is the context.
i said “outcome “.
NEP implementation only started last year. They took 8 years to reach there.
There were always centrally sponsored schemes and policies. That doesn’t guarantee any positive results.
They also passed 4 labor code but yet to notify rules. Everything same old same old.
We don't need to "clean up", no clue what that means. The part of the population that lacks education is not contributing to growth and nor will they. It's their children we need to target. For example, by giving them opportunities outside the agriculture sector. So we need to give them better schooling and job options over 5-10 years or so, when 10-year-olds start graduating school. Populations above the age of 35 are a lost cause. If they haven't found decent growth options, there's very little the govt can do to help them.
Outcome at the level of schooling takes 2 decades plus to show. Children have to grow up in the system from the age of 3 all the way to 22-23 before they can graduate and begin to make an impact.
Yes, it takes years to make policy changes, that's how messed up the system was run by Congress. And you can be 100% sure Congress will put every single hurdle they can to ensure BJP is not successful. The farm laws are the best example. Cutting out middlemen will benefit farmers and consumers, but it was middlemen and the Congress that stopped the laws.
Same with labour laws, it's on the concurrent list, so it needs the support of states as well. So the progress on these things are very slow.
Not everything can be done as quickly as GST, where most states minus Congress were all for its implementation. Rahul Gandhi was running around calling it Gabbar Singh Tax. Congress gave in only 'cause they realised they were losing badly. Especially because the govt threatened to introduce it as a money bill instead of a financial bill, which means Rajya Sabha and state involvement would not be necessary, the BJP majority in Lok Sabha would have done the trick. Or the sole credit for GST would have gone entirely to the BJP, even if it is still to their credit. Can you imagine what would have happened to all the parties had the BJP steamrolled GST on their own through the house and then made it the success it is today all on their own?
BJP doesn't have the money bill advantage elsewhere. The states have to cooperate, via Rajya Sabha.
People have clearly understood that the Congress only cares about itself. That's why they got crushed in both general elections.
Exactly what clean up means. Fix fundamental issues related to education, infrastructure and health. Compared to china 20-15 years that is yet to happen. Thus India magically reaching Chinese high growth in a less globalised world is not realistic.
Exactly!
It's not as relevant to growth today as you think. We need manufacturing jobs to maintain high growth, and the govt is doing that already.
What we needed was reforms in higher education and that's been done. Infrastructure construction has seen colossal changes already, it's slowly surpassing demand. GST has become successful. A new health policy has also been implemented.
So the only things left are farm and labour reforms, both have been held up by Congress and of course the Farm and Trade Unions, even though both will benefit from them.
So do you think the farm reforms were bad?
Since such a long duration has no political benefits, Congress didn't bother much about it. Never mind the fact that their main votebank is the illiterate and uneducated who have been trained to worship the Nehru-Gandhi parivar.
Nice. Zeiss is a smaller player that is why it took them so long to make a mark in the Indian market. Essilor is the worlds biggest lens maker and they manufacture all the lenses in India, they started local manufacturing of Luxxotica frames too after the merger.
India's share in the global ship recycling business is around 30 percent . But , the Indian shipbuilding industry represents only 0.045% of the global share. miniscule compared to China’s 40% and Japan and Republic of Korea’s 25% each. There is so much ongoing projects in steel industry and so there is locational advantage with many ongoing port projects , If we cld do the necessities in this sector , it cld act as a catalyst for over all economy .
There was a sansad tv video on this
There was a sansad tv video on this
It's the export powerhouses that also became expert shipbuilders. They leveraged their cheaper labour force compared to the West to do it. But now it's an uphill battle for India in the mid to long term 'cause of competition from China, even if we assume SoKo and Japan will eventually decline in 10 years.
How many new medical colleges , IIT , AIIMS are opened after 2014 ? if there is a improvement compared to UPA era then you cant put BJP same as Congress
Without getting in to congress bjp debate , i wld add a point - Due to digital penetration the amount of free resources to refer in higher education has significantly improved . And one can avail quality courses just click of button . If student wants to learn he can find the best resources does nt matter if he gets admission in some private college in some corner of the country . But yeah , the environment might not be that much conductive , its up to the individual .
School education require some consolidation . There are too many schools . In odisha there is a project called "Adarsa vidyalaya " going on ( in assam as well , not sure if its all india ) . 314 ideal school is being established . One in each block .
Then i had been to one of the national high school . Some good works has been done regarding the overall environment , compared to what i had witnessed 10 years back .
Those with money can anyway avail good school education . Even in tire 3 cities there schools with swimming pool , all kinds of sports activities , indoor as well as outdoor , classroom with projectors etc . charging somewhere betwn 50k-70k annually . It can be more for the branded ones .
India is now the #1 emerging market to invest in, according to 85 sovereign wealth funds and 57 central banks representing $21T in assets.