That's the thing about populist democracies vs China. China is held to a higher standard than any other country in the world. Any little incident is directly blamed by western media onto the whole political structure. So Chinese leaders have to work way harder than populist leaders, otherwise they risk instability.
Indian Economics thread.
- Thread starter styx
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Which is why it's beyond hilarious to debate with Indians who try to argue with arrogance that their country and people are doing that much better than China and that Chinese people are oppressed!! The level of derangement is quite something to behold.
It's like arguing with a dude who reeks with arm pit smell oblivious to his stench that he doesn't need to use a deodorant because he's smell is an aroma from the gods.
Sounds like an anime convention.
Lol! Absolutely. That was Mumbai, India's richest city. The Chinese equivalent is Shanghai. There is just no contest.
Indians have been brought up to think that Mumbai is better than Shanghai. Those who were fully brainwashed become the Jai Hinds and Bhakts. Nothing is gonna convince them otherwise. Not even visiting Shanghai. Just like how they always boast that India has a better military than China.
When the free world look at the flaws in India, they'll say that its just the nature of 3rd world countries. But any flaws they observe in China, no matter how small. They call it a failure of the CPC. When China was still a poor country, they will say that Communism cannot bring prosperity. Now, when there is irrefutable evidence that Communism can bring prosperity. They'll say: But at what cost?
Its impossible to win any argument against anti-communist crusaders. They are usually inherently racist against China. Anti-communism is just a convenient cover.
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With the western media and Indian media biased reports on anything China, these Indians will remain ignorant and arrogant for decades. It does not matter if China surpasses Japan or the US on many metrics, these Indians will remain deluded.
India Superpower 2022 ( an Indian estimate base on Vedic system of 9.2 growth rate 
) , and typical Indian respond as always, projection, projection, projection. They're optimistic that the target will be reach, IN THE FUTURE...lol
The Indian counter spin and illusion...lol
Apr 26, 2021390-1Country
Location
Earlier it was estimated to be 7.3% contraction (April 2020 to Mar 2021).
But now govt has revised data and it was only 6.6%.
This year growth is 9.2%.
From Beijingwalker (Pakistan defense forum)
The National Statistical Office (NSO), in its first revised estimates of GDP, has said the Indian economy shrunk by 6.6 per cent in 2020-21, primarily due to the COVID-19 pandemic and nationwide lockdown curbs imposed by the government.
The provisional data released by the government May 2021 had said the GDP contracted by 7.3 per cent in 2020-21.
As per the Ministry of Statistics & Programme Implementation release, real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at ₹135.58 lakh crore and ₹145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20.
“Nominal GDP or GDP at current prices for the year 2020-21 is estimated at ₹198.01 lakh crore as against ₹200.75 lakh crore for the year 2019-20, showing a contraction of 1.4 per cent during 2020-21 as compared to growth of 6.2 per cent during 2019-20," the statement said.
At the aggregate level, nominal GVA at basic prices declined by 1.6 per cent during 2020-21 against the growth of 6.9 per cent during 2019-20. In terms of real GVA – GVA at constant (2011-12) basic prices -- there has been a contraction of 4.8 per cent in 2020-21 vs growth of 3.8 per cent in 2019-20, the release added.
During 2020-21, the growth rates of the primary sector (comprising agriculture, forestry, fishing and mining & quarrying), secondary sector (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary sector (services) have been estimated as 1.6 per cent, (-)2.8 per cent and (-) 7.8 per cent as against a growth of 1.9 per cent, (-) 6.8 per cent and (-) 8.4 per cent, respectively, in the previous year.
Nominal Net National Income (NNI) or NNI at current prices for the year 2020-21 stands at ₹171.94 lakh crore as against ₹177.17 lakh crore in 2019-20, showing a contraction of 2.9 per cent during 2020-21 as against growth of 6 per cent in the previous year, it stated.
Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,32,115 and ₹1,26,855 respectively for the years 2019-20 and 2020-21, it stated.
) , and typical Indian respond as always, projection, projection, projection. They're optimistic that the target will be reach, IN THE FUTURE...lolThe Indian counter spin and illusion...lol
Akatosh
FULL MEMBER
Apr 26, 2021390-1Country
Earlier it was estimated to be 7.3% contraction (April 2020 to Mar 2021).
But now govt has revised data and it was only 6.6%.
This year growth is 9.2%.
From Beijingwalker (Pakistan defense forum)
India's GDP contracts by 6.6% in 2020-21
Updated: 31 Jan 2022, 08:48 PM ISTThe National Statistical Office (NSO), in its first revised estimates of GDP, has said the Indian economy shrunk by 6.6 per cent in 2020-21, primarily due to the COVID-19 pandemic and nationwide lockdown curbs imposed by the government.
The provisional data released by the government May 2021 had said the GDP contracted by 7.3 per cent in 2020-21.
As per the Ministry of Statistics & Programme Implementation release, real GDP or GDP at constant (2011-12) prices for the years 2020-21 and 2019-20 stands at ₹135.58 lakh crore and ₹145.16 lakh crore, respectively, showing a contraction of 6.6 per cent during 2020-21 as compared to growth of 3.7 per cent during 2019-20.
“Nominal GDP or GDP at current prices for the year 2020-21 is estimated at ₹198.01 lakh crore as against ₹200.75 lakh crore for the year 2019-20, showing a contraction of 1.4 per cent during 2020-21 as compared to growth of 6.2 per cent during 2019-20," the statement said.
At the aggregate level, nominal GVA at basic prices declined by 1.6 per cent during 2020-21 against the growth of 6.9 per cent during 2019-20. In terms of real GVA – GVA at constant (2011-12) basic prices -- there has been a contraction of 4.8 per cent in 2020-21 vs growth of 3.8 per cent in 2019-20, the release added.
During 2020-21, the growth rates of the primary sector (comprising agriculture, forestry, fishing and mining & quarrying), secondary sector (comprising manufacturing, electricity, gas, water supply & other utility services, and construction) and tertiary sector (services) have been estimated as 1.6 per cent, (-)2.8 per cent and (-) 7.8 per cent as against a growth of 1.9 per cent, (-) 6.8 per cent and (-) 8.4 per cent, respectively, in the previous year.
Nominal Net National Income (NNI) or NNI at current prices for the year 2020-21 stands at ₹171.94 lakh crore as against ₹177.17 lakh crore in 2019-20, showing a contraction of 2.9 per cent during 2020-21 as against growth of 6 per cent in the previous year, it stated.
Per Capita Income i.e. Per Capita Net National Income at current prices is estimated at ₹1,32,115 and ₹1,26,855 respectively for the years 2019-20 and 2020-21, it stated.
The provisional data released by the government in May 2021 had said the GDP contracted by 7.3 per cent in 2020-21.
Equation
Lieutenant General
Here's a good quote:
"As long as they stay a bunch of squabbling tribes, they will remain a silly people."
India's budget for the next fiscal year (2022-23) was presented yesterday. A few highlights:
Reflections:
India continues to pursue a policy that is capital-intensive and unsuited for its demographic profile (lots of unskilled and underemployed labour). The govt is betting lots of billions on luring semiconductor firms to its shores. It could work, but to borrow a famous phrase: at what cost?
The biggest challenge is employment generation and semiconductors are not employment-intensive. It will help with the import bill but not the aspirations of its vast reserve pool of underutilised labour. Health care expenditure is shrinking back to its pre-pandemic lows, despite widely being seen as insufficient, as the pandemic showed.
India is once again conducting an elite-biased economic policy which will only work for the top 10%.
- Subsidies for agri were slashed by 20%
- Subsidies for a rural job guarantee (important in times of distress) were slashed by 25%
- Capital expenditure was boosted by 30%, biggest jump in many years.
- Fiscal deficit for center+states only marginally declines to 9.5%. However, nominal GDP will increase by ~14%.
- Debt to GDP will not meaningfully improve, stays elevated at 90% of GDP.
- Interest expenditure will go up to around 1/4th of total revenue collection.
Reflections:
India continues to pursue a policy that is capital-intensive and unsuited for its demographic profile (lots of unskilled and underemployed labour). The govt is betting lots of billions on luring semiconductor firms to its shores. It could work, but to borrow a famous phrase: at what cost?
The biggest challenge is employment generation and semiconductors are not employment-intensive. It will help with the import bill but not the aspirations of its vast reserve pool of underutilised labour. Health care expenditure is shrinking back to its pre-pandemic lows, despite widely being seen as insufficient, as the pandemic showed.
India is once again conducting an elite-biased economic policy which will only work for the top 10%.
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