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Modi Government Score Card for the last 4.3 years

KRN

Active member
I DON'T believe that all religions are equal.

Only in the Hindu religion is the all-pervasive Brahman of the Upanishads accepted.
 

KRN

Active member
know topic is about Modi government's score card.
On this point I have to register two points that were missed by earlier posters.

1. The party that swears by Lord Rama has a responsibility to espouse the ideals of Lord Rama. Ramo Vigrahavaan Dharma. And Dharma lies in the country's family system. Rama stands for fidelity in marriage, while Ravana stands for adultery in marriage. When the Hon'ble SC passed a judgment that committing adultery is a "fundamental right" of the married man/woman, the "party of lord Rama" had nothing to add!! Not even a murmur from Modi. Disappointing.

2. Many Love Jihad cases rocked Kerala and K'taka and the root cause was indoctrination of gullible Hindu and Christian women by their jihad colleagues / friends. It was suspected that Madrasas funded by foreign countries, some of whom had terrorist links were behind this. What are the steps taken by the Modi Govt to prevent the recurrence of such incidents?
 

prasad1

Well-known member
Hijacked.
let us get back to the thread.
Trying to stem the flow of information adverse to you or your party by posting an opinion about oneself or criticising another poster is not going to derail the thread.
 

prasad1

Well-known member
Spammer:
a person or organization that sends irrelevant or unsolicited messages over the Internet, typically to large numbers of users, for the purposes of advertising, phishing, spreading malware, etc.

Just because of envy and hurry to badmouth people opposed to your views, do not use wrong terms.
 

a-TB

Well-known member
On this point I have to register two points that were missed by earlier posters.

1. The party that swears by Lord Rama has a responsibility to espouse the ideals of Lord Rama. Ramo Vigrahavaan Dharma. And Dharma lies in the country's family system. Rama stands for fidelity in marriage, while Ravana stands for adultery in marriage. When the Hon'ble SC passed a judgment that committing adultery is a "fundamental right" of the married man/woman, the "party of lord Rama" had nothing to add!! Not even a murmur from Modi. Disappointing.

2. Many Love Jihad cases rocked Kerala and K'taka and the root cause was indoctrination of gullible Hindu and Christian women by their jihad colleagues / friends. It was suspected that Madrasas funded by foreign countries, some of whom had terrorist links were behind this. What are the steps taken by the Modi Govt to prevent the recurrence of such incidents?
It is not possible to address all the issues in one election cycle,

Here is a copy and paste of something I received in a whatsapp group message . I think the numbers seem to check out and hence sharing it


am neither a BJP party member nor an Andhbhakt..

5 years ago, income tax on taxable income between 2 L and 5 L was 10%, now 0

5 years ago, tax on restaurant bills was 13% to 28%, now 5%.

5 years ago, interest on home loans was 10.3%, now 8.65%.

5 years ago, 1 GB of 3G data pack was Rs 250, now, 1 GB of 4G at Rs 5.

5 years ago, sky high prices of medicine and stents, now they are several notches less.

5 years ago, inflation in double digits, now under 5%. Prices of pulses and vegetables fall.

5 years ago, 17 different indirect taxes, now just GST.

5 years our economy was in fragile 5 group now it's in BAA3 .

5 years ago in ease of doing business we were at 160 rank now one of the top performer it's 99.

5 years ago, Real Estate builders had Manmani, now they are bound to deliver project before deadline under RERA.

5 years ago, there were many enterance exams for medical, Now we have NEET.

5 years ago, avg Passport issue time was more than 3 months, now it is one or less than one week.

5years ago, Highways were made on crawling speed now it is 70% higher than 2014.

5 Years ago, it was a distant dream to hear from any Neta, now they respond to tweets and FB posts.

5 Years ago, no body ever spoke about Safai, now we have world’s biggest safai andolan.

5 years ago, medicines’ prices were regulated by big pharma companies, now same is regulated by govt and have bought them down to 50%.

The only problem with us Middle Class people is we never realize all these developments are of us.

Schemes like Udaan, SwatchBharat, JanDhan, GST, Beti Padao and Beti bachao are for us buddy.

The most important point.
5 Years ago we were not sure who our PM was, now even world knows about him. He is not a *PUPPET* atleast.


+++++++++++++++++++++

Average food prices in 2018-19 were almost the same as they were in 2017-18—a phenomenon not seen for at least 27 years
Economists attribute low food prices to a string of factors including bumper crop, low demand, low global prices, and muted impact of increased minimum support prices (MSP)
 

Jaykay767

Well-known member
Same story packaged in a different colour.

During Indira's regime, train ran on time, bureacrats came to office on time, they worked very very hard, they never rook bribes, poverty had been fully and completely eradicated by sloganeering alone, and all lived in heaven nah better lah lah land..

Can the right wing now address the real problems of demo and GST disaster ?? 45 yr high joblessness, huge bank NPAs, ilfs and IDBI debt contagion, oh, also the MF disaster that is unfolding...

LOL.
 
Personally GST and DeMo have had zero impact on my day to day life. Even during the days immediately after it was announced DeMo had no impact on my life, so not sure why its such a big deal.
Instead of standing in an ATM line with a card, I used that card to buy whatever I needed, even the barber near our house took atm cards, the milkman, even the Pani Poori wala took atm card. So hardly any impact. Before DeMo 90% of my Txns were using ATM cards now its 99%. Its freedom from carrying cash. I see it as the beginning of Digital India revolution, offcource there are labor pains when trying to bring something new into the world but the pain is worth the gain.
 

Vaagmi

Well-known member
Same story packaged in a different colour.

During Indira's regime, train ran on time, bureacrats came to office on time, they worked very very hard, they never rook bribes, poverty had been fully and completely eradicated by sloganeering alone, and all lived in heaven nah better lah lah land..

Can the right wing now address the real problems of demo and GST disaster ?? 45 yr high joblessness, huge bank NPAs, ilfs and IDBI debt contagion, oh, also the MF disaster that is unfolding...

LOL.
I have been hearing this from you repeatedly. When taken up for discussion, you never care to reply. Now one more attempt. Let me see whether you are really serious.

Please take the items one by one. They are 1.Indira's time train ran on time. Are you serious? I am sure you are speaking about the Emergency times. If yes is your answer then there is nothing more to discuss.
2.demo - What are the bad effects of Demo. Are you ready for a discussion in detail. Please tell me why you think demo was bad. Point by point I can counter you and prove you wrong.
3. Is GST a disaster. Why do you say this. Please tell me the reasons. I will discuss this wioth you.
4. Joblessness-let us discuss in detail.
5. Huge bank NPAs. Please tell us what you know about these NPAsand what are the contributing factors. Let us discuss.
6.ILFS and IDBI - what exactly you want to tell.
7. The so called MF disaster.

I find you to be a member with whom one can reason out and discuss and debate subjects. That is why this request.

If you were one of those C ing and Peeing (pun deliberate) type here, I would not have ventured out.

Let me see. I wait.
 

Jaykay767

Well-known member
Refer post #367

Mr. Vaagmi Ji,
Sure, I am on for a serious debate. I am always happy to hear from you !.

Ps. I am going to break them into multiple posts.

1. Yes, Pun intended, hence we can keep this out of scope.

2. Demo - destroyed many areas of the informal sector - key ones are - farm sector, Construction, Textile, etc.. let's take the farm sector and debate this.

* Demo was introduced right in the middle of the crop season, so the farmers were cash starved and unable to purchase fertilisers, sow seeds, and pay labor etc. Hence 1 full cycle of harvest was lost for a lot of small farmers.

* in panic, that the entire harvest was lost (due to lack of data), our great govt "over brought/ imported" tonnes of cereals, rice, wheat etc,, and filled the govt godowns as they didn't want the cities to run out of food - to truly avoid a Venezuela situation !!

* now as the farmers started to sell their crops, the govt could not buy as their godowns were almost full. Hence the farmers had to sell in the open market crashing the price completely as there was very little demand apart from govt buying.

* The huge glut of food in the market place ensured, the prices were down till the excess good were cleared !! In this winding down process,another crop cycle ensured more food "flooding" the market place, leading to continued depressed prices. This is why the govt promised to pay more than MSP.

So for 2 straight years, the farmers lost on their produce and hence the need for loan waivers, Kisan program from state and centre.
 

Jaykay767

Well-known member
Point 2..demo...cont..

Many businesses that depended on black money collapsed as the owners were busy converting their black money to white via Jan dhan accounts, etc.. And they closed down their businesses to avoid income tax issues!! Al the poor people employed in them lost their jobs.

Post demo, the demand collapsed, people simply stopped buying for months, this was a surprise unintended impact and delayed recovery.

Coming to GST -

In this fragile environment, a massive tax program with multiple IT filings broke the backbone of the small and medium businesses.

Let's say, a manufacturer procures raw materials by paying 18% GST, and then manufactures finished goods. Now the finished goods attract say 5% GST.

Now the manufacturer reduces the 18% gst from his overall price ( as he will get this refund from income tax), and then charges 5% on the finished goods price.

And now 18% is not small money,this money got stuck for over 1 yr, due to tweeting problems on the GST system. Over 10 crore invoices could not be matched leading to massive delays on refunds.

Now how many businesses can survive with 18% money stuck for months for 1000s and 1000s of invoices ???

Not to forget the mess of filing multiple It forms each week initially and then each month !!! And that a lot of traders are uneducated !!!

More to follow on GST...
 

prasad1

Well-known member
We have many threads on GST & Demonetisation.
NO NEED to rehash it in this thread.
Jaykayji thank you for trying it again.
 

a-TB

Well-known member
I have been hearing this from you repeatedly. When taken up for discussion, you never care to reply. Now one more attempt. Let me see whether you are really serious.

Please take the items one by one. They are 1.Indira's time train ran on time. Are you serious? I am sure you are speaking about the Emergency times. If yes is your answer then there is nothing more to discuss.
2.demo - What are the bad effects of Demo. Are you ready for a discussion in detail. Please tell me why you think demo was bad. Point by point I can counter you and prove you wrong.
3. Is GST a disaster. Why do you say this. Please tell me the reasons. I will discuss this wioth you.
4. Joblessness-let us discuss in detail.
5. Huge bank NPAs. Please tell us what you know about these NPAsand what are the contributing factors. Let us discuss.
6.ILFS and IDBI - what exactly you want to tell.
7. The so called MF disaster.

I find you to be a member with whom one can reason out and discuss and debate subjects. That is why this request.

If you were one of those C ing and Peeing (pun deliberate) type here, I would not have ventured out.

Let me see. I wait.
Sabaash !
True LOL moment reading the deliberate pun

Let there be good debate which is very relevant to this thread.

Let there not be distractions by C&P posts in other threads. It appears Mr Jayakay is engaging sincerely and I hope the debate proves to be enlightening.
 

prasad1

Well-known member
The pseudo arbitrator has decided that this thread will discuss demonetization and GST, and OP did not object, let it be.


Let's admit it! Demonetisation was a failure
The problem is that two big objectives that the Prime Minister had touted in his late evening speech - about catching black money and weeding out fake notes - have been less than successful to say the least.


So what was the real reason behind demonetisation? That question has cropped up once again now that the Reserve Bank of India (RBI) annual report shows that 99.3 per cent of all the high value currency notes that were demonetized was deposited back, and with various government spokespersons rushing to babble out fresh reasons to explain that it was not a complete and utter failure. The remaining 0.7 per cent cash that has not come back would probably have returned as well if the RBI had allowed them to be given back - it actually turned away many people who came to deposit the cash back by changing the rules, despite Prime Minister Narendra Modi's initial promise that everyone would be allowed to return money within the stipulated time and even the finance ministry advertisements that promised the same.

Obviously even the government knows that demonetisation was a big failure. The Prime Minister was careful not to mention it while touting the long list of achievements of his government during his Independence Day speech. The RBI report itself was released quietly, and initially only a few government spokespersons tried to defend it once the report was released. (They are still trying to do it, though few of their reasons sound convincing).

The problem is that two big objectives that the Prime Minister had touted in his late evening speech - about catching black money and weeding out fake notes - have been less than successful to say the least. The fact that the new currency notes were not all that counterfeit-proof is apparent from the RBI report which talks of the amount of new, fake currency seized already. Ditto for black money - yes some was probably caught and some probably came back to the government through higher tax paid on deposits, but the amount was nowhere near the windfall gains that the government hoped for. (S Gurumurthy, co-founder of Swadeshi Jagran Manch, a recently nominated board member of the RBI, and the person who apparently came up with the idea of demonetisation had said that as much as 20-40 per cent of the demonetized cash would not come back to the RBI, resulting in windfall gains to the government. It is obvious that his calculations were way off). Neither is the number of new tax assesses enough to justify the pain of demonetisation. There were plenty of other tools available to bring non tax payers into the tax net.

 

prasad1

Well-known member
Continuing:

Later justifications about the real benefits of demonetisation - ranging from a cash less (or less cash) economy to hitting terror networks have also proven to be far-fetched. The RBI report shows that people are again keeping a lot of their savings in cash. Digital transactions have gone up - but hardly enough to justify a drastic measures as demonetisation which slowed the economy.
As most economists, who were not ideologically committed to defending everything the government did, had pointed out, the timing could not have been worse for the drastic step. In an environment when the economy had already started slowing down, it caused a plunge in the GDP growth - which far outweighed any little tax gains the government accrued for the enormous pain and suffering it caused. (Actually it can be argued that there was never a good time for a step like drastic demonetisation which slowed growth and caused misery to people without any commensurate returns).

In fact, I suspect the government had figured out that demonetisation was a disaster pretty early. Which was why there was a rush to justify its benefits, which seemed to keep changing by the day, as did the rules for deposit and exchange of notes. That was why a number of silly statements were also made. One otherwise sensible gentleman said that demonetisation would stop Kashmiri stone pelters on their tracks because terror financing was hit. Another eminent politician said prostitution had come down because of the sudden cash shortage hence it was a good thing. And there were many such other benefits that were used to justify the long queues, the lost productivity, and the misery of the informal economy and even the job losses.

I suspect the government also knows that the disruption caused by the initial chaos surrounding the introduction of the Goods & Services Tax (GST) - which is easily one of the most significant reforms carried out by this government - would have been borne better by the SME sector if they were not already reeling from the blow of demonetisation. (A RBI report shows that SMEs were hit by a double whammy - first demonetisation hit credit flow, and then GST hit their exports).

Even though growth is now recovering from the disruptions of the past two years, and this government has actually taken a number of significant economic reforms which will help in the long term - GST and the passing of the Insolvency and Bankruptcy Code (IBC) - being the two biggest, I think that this five year period of the Modi government will always be defined by the ill thought out and ill planned demonetisation of 2016 for a very long time. If the Prime Minister had not unleashed it on an unsuspecting populace, his economic growth record would have been far superior to what it is now.

 

prasad1

Well-known member
On the evening of November 8, 2016, Prime Minister Narendra Modi made an unprecedented 20-minute speech on national television promising to end the stranglehold of black money in the Indian economy, staunch the flow of terrorist funds from abroad, end fake currency circulation, push digital payments and bring windfall gains to the government in terms of destroyed currency notes. The panacea of all these ills was demonetisation — all existing Rs 500 and Rs 1,000 notes as illegal.


Twenty-one months on, and with nearly 99.3% or Rs 15.31 lakh crore of the notes back in circulation, demonetisation—touted as one of the government’s biggest economic reforms—has not only failed to achieve any of the stated objectives, but has left a trail of destruction in its wake. The move virtually decimated the country’s large cash economy, and therefore the livelihoods of many small and marginal farmers dependent on cash payments, smaller businessmen and distributors, shopkeepers and traders, and also piled untold miseries on the common citizen.

Not only did the Reserve Bank of India’s (RBI’s) annual report, for the year ended June 2018, point out high percentage of notes being back in circulation, but it also put to rest the dangers of counterfeit notes destroying the country. In the past four fiscal years (F15-FY18), the collective value of counterfeit Rs 500 notes was only Rs 49 crore and that of Rs 1,000 notes was another Rs 63 crore.


it is clear that demonetisation did cost the economy between 1.5 % and 2% of the GDP, according to economists such as Sunil Sinha, principal economist and director, Public Finance, India Ratings & Research. “It was a lost opportunity because had demonetisation not happened, India could have achieved 9% growth,” he says. Moreover, as the RBI report points out, that even the new currency notes are being forged and digital payments, after an initial surge because of the absence of cash in the system, has gone back to the levels witnessed before the note ban.


 

prasad1

Well-known member
Four years: A missed opportunity
India’s economy is back on track after the twin hits of demonetisation and GST, but soaring crude oil prices threaten to push it off the rails again.



But four years later, all is not well with the economy. Major reforms in land acquisition and labour laws have been slow to take off, deterring private sector investment. “Combined with the fact that interest rates had not been cut by the RBI, private sector investment remained low,” says Khan.

Perhaps the biggest blow came from the government’s demonetisation decision. Experts say the move undid all favourable factors such as higher synchronised global growth, low interest rates across the world, and a good monsoon that could have pushed India’s growth to 9% levels.

“Demonetisation was a big disruptor... Small businesses that were disrupted haven’t been able to recover,” says Sinha. “When we could have grown faster than 8%, growth slumped to 7.1% in FY17 and 6.7% in FY18.”

If the currency ban hit the economy, the implementation of the goods and services tax (GST) also caused some disruption, even though most experts agree it was a necessary reform. To add to it, the government was unable to check the rise of bad loans at public sector banks, which at the end of FY17 added up to Rs 6.84 lakh crore, according to RBI data.

The government had barely begun recovering from the twin blows of demonetisation and GST when crude prices began rising again. Brent prices are back above $70 a barrel, bumping up its import bill and threatening to hit the economy. Sinha says that the conditions that India saw in FY17 and FY18 will not be seen again for at least the next 10 years. According to CRISIL, a runaway rise in oil prices could increase inflation and impact other macro indicators. “A back-ofthe-envelope estimate shows every $10 per barrel increase in crude oil price can shore up India’s fiscal deficit by 8 basis points (bps) as a percentage of GDP and similarly the current account deficit by 40 bps,” the ratings agency said in a recent statement.

Experts believe that though the macroeconomic parameters look better on paper, structurally a lot of weakness remains in the economy which will be tested in the coming year. “Rising crude oil prices mean inflation is still vulnerable. The fiscal deficit and current account deficit are increasing and private investment is not taking off, and not to mention job creation is slow,” says Khan.

As the government enters the last few months in power, it is clear that it has lost the opportunity to propel India’s economy to historic levels of growth. How the voters will judge the BJP is anyone’s guess.


 

Jaykay767

Well-known member
Clearly, all their big ideas either got stuck in bureaucratic mess and nothing got done or failed badly - eg, Demo, GST, Make in India, Smart City Project, Swiss Bank - Black Money, FDI - have you heard of any project from the foreign countries started in india ??, none I have heard and this govt doesn't even talk about it after extensive world tours and 100s of mou's !!!

Not to forget, the govt was fire fighting badly after the demo and GST disasters !!

So 2.5 yrs lost in bureaucracy, another 2.5 yrs lost in fire fighting !!

LOL !!
 

a-TB

Well-known member
I do not understand Hindi fully but it seems there are some important issues being highlighted in the above video
 

prasad1

Well-known member
I studied in Hindi Medium.
This is nothing new but electioneering.
I have posted in another thread about banks making money.
But that has much more reasons, than just Modi,
The economy has improved, and the Indian rupee has devalued.
The numbers are just rehashing of numbers that would have been similar, with or without Modi.
Modi is a fluent speaker and salesman. Gullible people and Bhakts will but anything.
The banking reforms Modi claimed were necessary and dictated in Part by MOODY's and Not Mody's.

By the way, this was a cut and paste job without even understanding the original message (so the poster said).

But riles against other's postings.
 
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