India grows faster than expected at record 9.4 percent Friday, June 01, 2007
NEW DELHI: India’s economy grew faster-than-expected at a record 9.4 percent pace in the year to March, beating a government forecast of 9.2 percent Thursday and raising hopes of more foreign investment. …
Very nice, but I just don’t get… Hindustan doesn’t look like a trillion dollar economy!
I mean, when China was a trillion dollar economy in the mid-90s, it was a power to be reckon with. Chinese looked very clean, heavily westernised with a stable government and it’s people were extremely prosperous. It created an awe for the rest of the world. Everyone talks about it to this day.
Hindustan seems nothing like. I once embarrassed myself in a discussion when I said to my [white] manager that Hindustan was progressing fast. He smirked at me and commented in such as if to say, can that famine stricken nation ever progress?
Will Hindustan ever shine or just remain a shadow of China?
Re: India grows faster than expected at record 9.4 percent
most of the growth comes from the manufacturing sector which grew at over an astonishing 14%! 10 years of economic reforms leading away from state owned industries, deregulation, and liberalizing licensing has begun paying off dividends in a big way. india is no longer dependent on software outsourcing for its explosive growth, although the software industry has greatly help raise foreign investment exposure to india.
hats off to visionary economist manmohan singh (chakwal's brightest prodigy), his bold companion chidambaram, and the quiet but efficient ex-pm late pv narsimha rao for this great acheivement. these three extremely educated politicians have proven their worth. this is but the beginning of what could be a few decades of roaring economic growth fueling itself on, provided the government does its job and stays out of the way.
even army-led pakistan and bangladesh could easily piggyback on the economic boom by being india's and china's conduits to energy, and goods transport - for china to the arabian sea, and for india to central asia. hopefully musharraf or someone with similar non-confrontational views will rule pak for the coming couple of decades and make this possible.
to anyone interested in following the trail leading to the current boom, i highly recommend "India Unbound" by Gurcharan Das (a great son of lyallpur ;) ).
Re: India grows faster than expected at record 9.4 percent
PD, ur white manager don’t want india (and pakistan also) to grow fast. all that he wants is we (indians and pakis) just keep quareling and he will enjoy superiority. don’t believe americans,man. they are such a *******s.
what do u mean by india don’t like clean?? u mean our cities? just visit once to one of them.
to be westernised doesn’t mean progressing fast. india have her own culture and it has been preserved carefully slowly removing ills in it. Govt are very much stable.offcourse not to the degree of chiniese where only one party rules. our strength is our democracy and secularism which is deeply routed in the minds of people.
india is famine stricken and still developing at that rate. just wait till our disaster management system becomes more resourceful and settles down. india is never been the shadow of china or US or russia or whatsoever.
Re: India grows faster than expected at record 9.4 percent
^^ I guess Pakistan should consider joining back with India :)
that will be the best solutions to fight these firangees. imagine india and pakistan lobbying hard against US. if south asia becomes stable and trouble free spot, half of america's agression will drown in indian ocean.
joining back doesn't mean merging into one nation. that is absolutely impossible. joining back means existing as a symboitic neighbour. the way australia and newzealand or US and canada is....
Re: India grows faster than expected at record 9.4 percent
hats off to visionary economist manmohan singh (chakwal's brightest prodigy), his bold companion chidambaram, and the quiet but efficient ex-pm late pv narsimha rao for this great acheivement. these three extremely educated politicians have proven their worth.
Correct......these three indeed turned the economy kicking
[quote]
this is but the beginning of what could be a few decades of roaring economic growth fueling itself on, provided the government does its job and stays out of the way.
Re: India grows faster than expected at record 9.4 percent
Whether India remains a shadow of China or not, we should applaud it’s impressive economic progress during the last decade. Pakistan has had pretty good economic successes in recent years as well. Both countries should learn from each other, as well as from China, but never do down their own achievments, which are also becoming the envy of the world.
India is being recognised as the next country to move up. If a few cities look western & modern - it does not mean the whole country has progressed evenly.
In Democratic countries like India it is harder, since we cannot force people to have 1 child only. Not ban rural people from moving into cities like china does, eg Hong Kong. Nor can India crush demonstrations like in China.
Trade Unions, political parties are all banned in China. Freedom of press & expression is unhear off there, and only the good stories of China are allowed to be published. Religion is not encouraged, and most educated chinese have no religion.
Fulon Gong - members are hunted and killed, and there are people who beleive that their organs are harvested.
The only common thing Pak & china have is their governments mutual dislike of India. Nothing else!!
Re: India grows faster than expected at record 9.4 percent
PD - the other thing is that I think it was your white manager who mentioned tht India is progressing and YOU smirked and said " can that famine stricken nation ever progress?"
Re: India grows faster than expected at record 9.4 percent
I don’t think Manmohan Singh government can take all credit.
Previous NDA government laid the foundation and present government is just building on that.
Liberalization of telecom sector, bills to facilitate IT, manufacturing, media investement and upto 100% foreign investement were initiated by NDA government.
The major disappointment from this government is their inability to control inflation…some steps like raising the interest rate to curb lending is now looking like stupidity.
Interest rate for housing loan is touching all time high rate of 13.5%, thanks to screwed up policy of finance ministry and RBI to curb inflation…this is the one area where they have failed miserable…
Nowadays…It takes a lot of courage to apply for a housing loan in…only a few years back this was around 7.5%—now looks like a dream
Re: India grows faster than expected at record 9.4 percent
Matrubhoomi,
Though the interest levels are at an all time high the percentage seeking house loan is still increasing this is because there is high purchasing power and damn demand is still going up (Dont forget that the house prices are rocketing and the demand is still excessive, according to reports even though there is excess demand the housing market still has enough legs before the bubble bursts).
The policy is doing fine now regarding curbing the inflation its a necessity the inflation is still not decreasing though the interest rates have gone up. The reason is there is no equilibrium between demand and supply and demand is at an all time high again coz purchasing power is high (Consumerism is doing great in india).
Though RBI is trying to curb on the excess money prevailing in the system but these results cannot be evaluated now for Long run yes, aggregate demand will be more effective then.
Overall NDA has done lots of stuff but I still respect the great duo of India i.e. PM and FM presently. I feel this is one recognised PM who is qualified as a economics guy and he can go out and speak in those terms.
Well inflation is still the enemy coz the poor are struggling as the commodity prices have gone up so the lower class is struggling but things will improve.
Re: India grows faster than expected at record 9.4 percent
I don't think Manmohan Singh government can take all credit.
Previous NDA government laid the foundation and present government is just building on that.
Liberalization of telecom sector, bills to facilitate IT, manufacturing, media investement and upto 100% foreign investement were initiated by NDA government.
Wrong.
The Narasimha Rao govt under which Manmohan Singh was finance minister, P Chidambaram as minister of state, and Montek Singh Ahluwalia of the planning commission are responsible for the liberalization movement. NDA govt did a good job of not screwing up with unnecessary policy changes, and rode their years in power with not an awful lot in that front. (NDA had uma bharti as sports minister - they werent even serious people as ministers haha).
