Interim Report card for PM Modi Government

[a-TB]

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I agree with this post. To change 60+ years of mismanagement is not an overnight task. It will take time to get things improved. But in case there is false claims that also is not going to do any good to the country. Best thing is to concentrate on doing what you are capable of to improve the standard of life in the country.

True, Mr Ganesh65.
But any infrastructure work takes time to pay dividends, often years. There are naysayers and people who ONLY propagate bad news in the media always jumping the gun. Those forces have to be dealt with so there is balance. Measurable items may not lie but may not provide full story. But there is accountability with any measurement and we should welcome such data beyond concentrating on just getting the job done

 

[zebra16]

https://www.slguardian.org/2017/08/india-under-modi-lies-damned-lies-statistics/

This is the profile of the author of this piece:

Ananya S Guha

Shillong, India

I live in Shillong and work in the Indira Gandhi National Open University, where I am currently heading the IGNOU Institute For Vocational Education & Training Shillong. I have over thirty one years of academic experience. I am a poet and writer. I also write for children. Previous to joining IGNOU I taught in St Edmund's college Shillong. I hold a doctoral degree on the novels of William Golding ​It is not very hard to make out the author of this piece has no clue about economics. No amount of white paper or blue paper report is going to help her.

 

[prasad1]

This is the profile of the author of this piece:

Ananya S Guha

Shillong, India

I live in Shillong and work in the Indira Gandhi National Open University, where I am currently heading the IGNOU Institute For Vocational Education & Training Shillong. I have over thirty one years of academic experience. I am a poet and writer. I also write for children. Previous to joining IGNOU I taught in St Edmund's college Shillong. I hold a doctoral degree on the novels of William Golding It is not very hard to make out the author of this piece has no clue about economics. No amount of white paper or blue paper report is going to help her.

So you are saying that a Non-economist should not comment on economic issues.
Jaitley is not an economist, Monmohan was an economist.
Then again the original post was from a Watsapp!!!!
Like I said elsewhere, it all depends on the individual's perspective.
If it suits your POV you can accept anyone, and oppose the opinion even if Lord Krishna said it. :eyebrows:

 

[biswa]

Let me offer a personal data point to complement all the statistics. It may not resonate with NRIs, but still.

This year I filed an IT return for the first time (being an NRI all these years). The process was all electronic, all online. There was near instant confirmation and acceptance of the return on the IT web site.

In less than 2 months, I received the adjudication and PDF copy of the final statement stating a refund of Rs 58K including some interest for advance payment of tax.

Today the money was direct deposited to my account. How much better can it get?

Modi sarkar Jai Ho !!!

 

[mkrishna100]

Let me offer a personal data point to complement all the statistics. It may not resonate with NRIs, but still.

This year I filed an IT return for the first time (being an NRI all these years). The process was all electronic, all online. There was near instant confirmation and acceptance of the return on the IT web site.

In less than 2 months, I received the adjudication and PDF copy of the final statement stating a refund of Rs 58K including some interest for advance payment of tax.

Today the money was direct deposited to my account. How much better can it get?

Modi sarkar Jai Ho !!!

The Jai Ho should go to the previous UPA Govt and I have been filing my IT Return online for more than 10 years and the same process . Very smooth and money being directly credited to my account . During 2007 I visited Canada and one Indian there could not believe this change happening in India . Same with Banking, LIC etc .I hardly visit Bank or visit any Govt department to pay the biils ( like EB ,LIC ,WATER TAX ,HOUSE TAX etc ) and everything is done online or through my Cell Phone . Same with Passport renewal and I got it done smoothly by myself without any intermediaries . This digital initiative has been taking place for a very long time for more than 10 years and Modi Sarkar is giving a full boost to it and I complement it for giving the added boost . With Aadhar - Pan-Cell Phone linkage this will only make it much better for people like us ( i.e Urban Middle Class Indians ) . That's it .

But where is the Irony in all this ? The Pot Hole, Garbage etc that you saw 10 years back will continue to be the same and try sending an email or message to the concerned department and nothing will happen .
So digitally things have improved and will continue to improve but with regard to Solid Brick and Mortar Issues things are the same as usual or even worse . If you want more info regarding this ask People of Mumbai how much they pay for the Corporation ( t he richest Corporation in India ) and yet why Mumbai is always in water when there is rain ?

So I conclude by saying : Digital India has improved and will continue to improve but real test is do we improve on other areas apart from Digital India ?

 

[zebra16]

So you are saying that a Non-economist should not comment on economic issues.
Jaitley is not an economist, Monmohan was an economist.
Then again the original post was from a Watsapp!!!!
Like I said elsewhere, it all depends on the individual's perspective.
If it suits your POV you can accept anyone, and oppose the opinion even if Lord Krishna said it. :eyebrows:

Sure anyone can write or comment on any topic under the sun, but the consumer applies "topic expertise" criteria to the piece written and the author of the writing.

Either you missed what is written about GST by World Bank India Chief, or did not think it worthwhile of reproduction or discounted his statements, but rather chose to highlight views of a poet/writer on an economic issue like GST. Here is the link to World Bank's views:

http://indianexpress.com/article/bu...nt-plus-growth-says-world-bank-chief-4851599/ (for full article)

GST a tectonic shift, takes India closer to 8 per cent plus growth: World Bank

"Today India is at the brink of a possibility of moving into 8 per cent plus growth rate. Why? Because India has made a very bold step in integrating internally its nation into one market. So the shift into GST is a tectonic shift," World Bank India chief Junaid Ahmad said.

I am also impressed by Robert Oppenheimer's reference to Bhagwad Geeta (uttered by Lord Krishna ) and I would go through his papers for advanced Theoretical Physics topics, but for BG interpretations, I would be seeking bhAshyams on BG from our AchAryAs and sanskrit knowing deshi vidhwAns.

 

[prasad1]

When I become the issue instead of my post it is time to quit the thread.
I have the utmost respect for a-TB, and Zebraji to interfere.

 

[zebra16]

Dear Mr Zebra16,

Thank you for your in depth and balanced analysis. Hope you had a chance to view the full Youtube segment I posted earlier. I think there are many in India and outside India voting with their money on India's future.

Yes, I did view the Youtube video in full. So much is needed to be done to root out corruption that has permeated the system.

A developing economy with over billion people is not easy to lead and change. Some of the changes will hurt in the near term. It appears ordinary people have faith in what the government is trying to do. The media reports sensationalize bad news and we have gullible eating it all up.

Many many challanges with middle class demanding quality services for the taxes paid by them; moneybags promoting crony capitalism;
unskilled and poor (and sometimes uneducated) lower class needing jobs in the fast changing technology oriented world where things learnt about 10-15 years back do not hold relevance; one group wanting ideological shift; one community refusing to identify themselves with the ruling government; the electorally defeated political class wanting their perks and importance back; liberals sniping at everything the Government does etc. etc,

 

[vgane]

Appears to be on the whole a credible set of numbers, except in case of electronics manufacturing and laying of optical fibre network. Optical fibre network was surely more than 358 kms prior to 2014 and 1300% increase in electronics manufacturing seems unbelievable. Fresh employment generation/increased employment in electronics industry does not indicate such an astounding growth. Most probably there is either a typo or computation of wrong base figure.

Performance of Sri Nitin Gadkari in road construction, Sri Dharmendra Pradhan in LPG distribution (Ujwala scheme) and Sri Piyush Goyal in power generation/distribution have been really outstanding and not even the opposition party is in a position to distract their performance.

Achievements of Sri Suresh Prabhu has unfortunately been scarred because of series of rail accidents and this has taken the sheen off his other stellar achievements. Sri Suresh Prabhu is being targeted for achieving 130-140% capacity utilisation of railway tracks and this is being dumped on his head for railway accidents though non-modernization of railways and sabotage of railway tracks are the main causes. The Government cant effectively put forth its claims of developments when discussion is veered towards emotional issue of loss of lives in accidents. Otherwise Sri Prabhu was one of the best performing ministers. Indians would have been very happy with 60-70% capacity utilization and 130-140% was simply unheard of.

Achievements under Mobile Banking got subsumed because of demonetization and the narrative is that increased mobile banking is due to forced digital economy due to demonetization, so even though the achievement is stellar the Government cant show case the achievement because of people jumping to note bandhi narrative and attributing slowdown of growth in GDP to it, although the GDP was slowing even earlier.

It will take awhile for commoners to appreciate mobile and internet banking over cash transactions, as was the case when online internet train bookings was mooted, when initially people mocked at it.

The biggest achievements are No Big Ticket Scams at the ministry level and very low inflation rate. Ironically this has freed up a lot of space in media for the critics to barb at the Government on sundry issues and making a mountain of mole-hill on some minor misreporting or wrong claims.

Well articulated..I agree with you Sir!

 

[athimber]

First of all I don't understand why a report card of Modi is sought? 14 prime ministers were in power prior to Modi Never heard anyone seeking or publishing a report card of their tenure. Well the main reason I believe is the charisma and popularity he enjoys among the masses could be the main reason. He is the only Indian prime minister who commanded attention from almost every nation. May be some of his decisions could have backfired, but for that matter who has no failures? Impostion of Emergency was the biggest blunder of that time by then prime minister Mrs. Indira Gandhi. V.P. Singh has to pay a heavy price for implementation of Mandal Commission which I think paved way for cast based politics in India. Failure to protect Ayodhya monument, was Narasimha Rao's mistake, he was sussessfully able to project it as State government's failure though.

Regimes prior to Modi, were riddled with major corruption charges, form Bofors to 2G, Common wealth and so many. Credit to Modi is he has none against him till date. Either as the CM of Gujarat or PM for more than 3 years.

Major economic decisions take time to show results. So is Note ban. Even thogh the majority of currency have came back to the banking system. But at least the Government now has the knowledge who holds what. The source can be questioned any time and deafaulters could be booked.

 

[athimber]

[h=1]Best Hedge Fund on India says Asia’s third largest economy will have seven good years in the next decade[/h][h=2]The top-performing hedge fund focused on India isn’t scared by equity valuations that are the most expensive in 10 years and predicts Asia’s third-largest economy will have seven good years in the next decade.[/h][FONT=&quot]

The top-performing hedge fund focused on India isn’t scared by equity valuations that are the most expensive in 10 years and predicts Asia’s third-largest economy will have seven good years in the next decade. Rahul Khanna, chief investment officer at Habrok Capital Management LLP, said his fund is betting on the long-term potential of the economy, which will begin to benefit next year from the government’s crackdown on black money and a nationwide sales tax. Last year’s cash ban and the goods and services tax introduced July 1 are expected to widen the tax base, while the latter should also make it easier to do business.[/FONT]
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[FONT=&quot][/FONT]
[FONT=&quot]“India is a long-term structural story,” Khanna said in an interview. “We expect seven good years in the next 10 years, but it is hard to predict which years will be bad. This year’s growth was impacted by demonetization and the GST. There are no such headwinds next year.”[/FONT]
[FONT=&quot]Khanna’s Habrok Capital India Equity Fund returned 42 percent this year through August, compared with 24 percent on average for its peers, becoming the best-performing long-short equity hedge fund with a mandate to invest in India, according to Eurekahedge. It was third best among 264 long-short equity hedge funds with Asian mandates, the data show.[/FONT]
[FONT=&quot]Holdings in insurers, consumer-finance companies and fashion retailers helped the fund beat its peers in 2017, London-based Khanna said.[/FONT]
[FONT=&quot]The benchmark S&P BSE Sensex gauge lost 0.6 percent in a fifth day of declines on Monday, set for the longest streak in more than a month.[/FONT]
[FONT=&quot]Here are the highlights from his interview with Bloomberg News:[/FONT]
[FONT=&quot]What is your fund’s investment strategy?[/FONT]
[FONT=&quot]“We buy structural growth companies which have low penetration, are run by focused competent entrepreneurs and do not require too much capital.” The fund is, for example, bullish on agricultural chemicals as usage — or yield per acre — is still very low in India. Khanna usually takes a five-to-10-year view and ignores short-term swings Top 10 holdings have seen very little churn since January 2016, he said.
How do you find Indian equity valuations?[/FONT]
[FONT=&quot]“Indian markets were never cheap but our belief is that if you hold for a long period of time you make money.” Khanna isn’t concerned about the recent slowdown in economic growth as the nation has “ strong demographics” and will benefit from lower borrowing costs and reforms including the linking of welfare benefits to a biometric identity card. “There is not much room for valuations to go up. However, there is still some tailwind for interest rates, which has the potential to boost local flows.”[/FONT]
[FONT=&quot]What are you buying?[/FONT]
[FONT=&quot]Khanna’s fund is buying industrials, keeping in mind penetration and market position. “We’ve bought a leading industrial abrasives and sandpaper company. We are adding a spirits maker as short-term headwinds, like a ban on liquor sale near highways and in the Bihar state, have made prices attractive. We are buying shares of a crop protection and fertilizer company. We will also add to beverages and some special situations.” Khanna said he likes insurance firms as he expects premiums to climb. The average in India is at 65 basis points, compared with more than 3 percent in the U.S.


Source credit :http://www.financialexpress.com/mar..._campaign=browser_push&utm_content=&utm_term=[/FONT]