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India's Prime Minister Narendra Modi on Sunday reshuffled some of his key minister's portfolios to refurbish his government's image, which has been dented by falling economic indicators.
Modi named Suresh Prabhu as the new commerce and industry minister and Piyush Goyal the railways minister. Dharmendra Pradhan was promoted as oil and gas minister. Modi dropped half a dozen ministers for failing performance.
A big surprise was 58-year-old Nirmala Sitharaman's appointment as the country's defence minister, an elevation from the post of junior commerce minister. She is replacing Arun Jaitley in the new cabinet.
India's economic growth rate has fallen four quarters in a row to 5.7 per cent in April-June, down from 7.9 per cent in the same quarter last year. Exports have stagnated for the past three years.
“It's not easy going as far as the economy is concerned. There is a slump in the economic growth rate and industry and the farmers' unrest over fall in incomes,” said Neerja Chowdhury, a political analyst.
Modi had promised 10 million new jobs every year when he came to power in 2014. According to government statistics, job creation for 2015 and 2016 stood at 155,000 and 200,310, respectively.
Chowdhury said that although he faces a challenging time, opposition parties are too weak to pose a serious threat to him in next national elections in 2019.
Opposition parties blamed Modi's shock decision in November to withdraw from circulation the country's highest-value currency bill and a nationwide tax overhaul launched two months ago as reasons for the economic downturn.
Though Modi said he was targeting tax evasion and corruption among the rich, the demonetisation caused chaos across the country's cash-dependent economy.
Raghuram Rajan, former governor of the Reserve Bank of India, said taking 87 percent of the country's currency out of circulation created be a tremendous impact on anyone who used cash.
“It is probably fair to say that demonetisation has had the largest impact on the people who transact informally, of which many might be very poor,” he said in an interview with The Times of India.
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On DawnNews
Comments (131) Closed
Sep 03, 2017 06:17pm
Entire focus of the Government as well as Reserve Bank under Raghu Raman has been on long term ...very little on short term policies. Growth v/s Inflation ...and inflation is under control. Only time will tell how it will work towards GDP growth and employment.
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Sep 03, 2017 06:27pm
Economic bubble about to burst!
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Sep 03, 2017 06:29pm
Modi has inducted 9 former Diplomats and Bureaucrats as Ministers thereby recognising their professional competence and integrity when in service and by giving them a free hand, the prime minister has underlined his emphasis on good governance. No political consideration or placating politicians representing cast, Religion, states etc thereby keeping eye on elections. Let us see whether these power hungry politicians will keep quiet or revolt as their place is taken by former Bureaucrats and Diplomats .....!!
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Sep 03, 2017 06:38pm
When things are not working, the typical first reaction seems to be reshuffling.
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Sep 03, 2017 06:41pm
Nirmala Sitharaman helped mismanage the economy. Now he can help mismanage the military.
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Sep 03, 2017 06:46pm
everyone know it will happen after demonetisation. nothing new.
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Sep 03, 2017 06:58pm
Reshuffling is nothing to do with economic indicators, reshuffling happens every couple of years in order to gauge the abilities of the junior ministers, I think, this again is a very positive and a bold move. Finally, brave steps of GST and Demonetization will bear fruit in the long run, the operation was necessary to curb out the evils of lethargic economics, black-money, terrorism, unnecessary paperwork and above all change the old mindset and adopt to the new changes and challenges of the world economy.
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Sep 03, 2017 07:04pm
@sunny - It has now become evident that "demonetisation has been a failure of epic proportions". "India's demonetisation is unprecedented in international economic history, in that it combined secrecy and suddenness amidst normal economic and political conditions. All other sudden demonetisations have occurred in the context of hyperinflation, wars, political upheavals or other extreme circumstances."
http://www.bbc.co.uk/news/world-asia-india-41100610
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Sep 03, 2017 07:04pm
Nothing new, as Demonitization and introducing GST was expected to blow away the economy on a short term basis. India's long term economic indicators are great and the economy should be able to catch up in 2-3 quarters. Benefits of long term effects of both will be seen from Q2 2018. This change in union cabinet was to weed away non performers and reward performances.
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Sep 03, 2017 07:05pm
5.7% gdp is very good looking at the bold steps taken like demonetisation and GST implementation that partially effects the economy but in long term it would provide more benefits.It still the 2nd fastest growing economy in world if you sure the data of gdp growth provided by China true.
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Sep 03, 2017 07:07pm
PM Modi has chosen the new cabinet on the basis of performance of the candidates not politics. His vision of ''New India'' will surely gain it's pace ones short term problem slow down. Nirmala Sitaraman is known to be a lady who speak through her work and not statement . We hope she will be proved to be a successful Defence Minister of India.
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Sep 03, 2017 07:14pm
Whose economy is slipping ..who has the most foreign debts..whose stock markets are crashing ...who is not getting any FDI except chinese...these answers are known by all..
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Sep 03, 2017 07:16pm
The 'very poor' actually did not transact in 500 or 1000 rupee notes. They were happy to see the super rich queue up outside an ATM for a mere Rs. 2000.
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Sep 03, 2017 07:16pm
@M.Saeed @ Afzal
Very correct assessment .... .... !!!!!!
There is something called micro level and micro level measures and only a person who is not in favour of populist measures takes decision to strengthen economy at macro level. Only a person who is not in favour of election based politics can appoint Diplomats and Bureaucrats as his ministers keeping politicians to do the job at their respective constituencies ....work related to people whom his is representing and who have elected him . A lesson to learn from Modi !!
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Sep 03, 2017 07:21pm
@Afzaal
Doing something is still better than doing nothing. Also everybody knew that economy will decline after tax reform and demonetization.
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Sep 03, 2017 07:21pm
@M.Saeed It Won't
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Sep 03, 2017 07:24pm
@M.Saeed wishful thinking. Indian economy is self sufficient and not dependent on aid and Chinese investments alone.
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Sep 03, 2017 07:35pm
@SK So dictatorship is better than democracy?. And this is the path now india is choosing?
Selecting bureaucrats and diplomats etc is usually done by military dictators as they don't trust the politicians
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Sep 03, 2017 07:39pm
Outstanding, incredible women empowerment
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Sep 03, 2017 07:41pm
And our pm can't change his minsters because of their political sizes, rather our pm itself is changed by big size powers.
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Sep 03, 2017 07:50pm
@M.Saeed :"Economic bubble about to burst!"
Making such a (wishful and) terse comment is hardly helpful, without any further data to back it up.
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Sep 03, 2017 07:51pm
This was to happen! Bubble or no bubble! You worry about your economy!
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Sep 03, 2017 07:59pm
All knew that demonitisation will decrease the growth for few years but will bounce back again with a bang.. And i didn't know why u not mentioning that it also bought 5.6 million new people under tax slab.. That's just gona increase India's economy more...
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Sep 03, 2017 08:01pm
@alba my friends Nirmala Sitaram is a lady and who even told u that she was anything related to finance ministry before ... Go check urs stats before commenting...
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Sep 03, 2017 08:09pm
The only thing my countrymen were proud of about our country seems like that also will come to an end
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Sep 03, 2017 08:09pm
India economy since long on the brink, cause of population explosive growth, the poverty, defense expenditures ongoing to grip Kashmir,Assam, the recent demonetization proved last nail in the coffin, the obsessive investments in Afghanistan with no returns. The unbalanced relations with China & Pakistan.All these & other factors lead to failure of so many ministries.
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Sep 03, 2017 08:21pm
Brighter side of demonetixation is Indian digital economy will grow to a trillion dollars by 2020. Today I can pay virtually everything digitally including my neighborhood chaiwalla. Last time I visited ATM was almost a month ago. Modi the lion will be remembered as the true leader of India. We will bear short term pain for long term benefit.
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Sep 03, 2017 08:23pm
It was high time the parallel economy was busted. harsh decisions are needed. Some will succeed and some will not. But surely 'NO' decision under the circumstances that evolved over 70 years of loot of country's wealth by rich and the powerful, would any daywould not be better in 'a decision'- right or wrong. Modi is the kind who would not let grass grow under his feet!
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Sep 03, 2017 08:27pm
Reshuffle is happening because of upcoming general elections in 1.5 years. Reshuffling is a common practice of every government, before general elections, to win new states from where the new ministers are come from. It has got nothing to with economy. Modi has 69% rating from Indians who back him.
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Sep 03, 2017 08:30pm
As India becomes increasingly Hindu under Modi Sahib, it will achieve Mr Sen's eternal Hindu Rate of Growth of 3%.
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Sep 03, 2017 08:32pm
@M.Saeed - Please read World Bank and IMF reports. Also, consult an economist.to help you understand. Then you will be able to make suggestions for the economy of Pakistan.
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Sep 03, 2017 08:53pm
The decrease in present GDP growth rate is due to new introduction of GST. The GDP rate will again increase when GST becomes fully functional. Have patience and brain.
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Sep 03, 2017 09:18pm
Modi has taken some very painful but necessary steps to put india at the forefront of world growth.
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Sep 03, 2017 09:19pm
slow economic gdp growth is due to only implementation of some economic reforms like demonitisation and gst tax reform which was already predicted before for this quarter. economy will boost with high groth rate again in next few month.
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Sep 03, 2017 09:24pm
Economy is sliding becoz of the Govts ambitious Demonitization. Not sure whether demonitization worked for the govt.
But am sure personally India will do well and economy will grow....
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Sep 03, 2017 09:36pm
Don't rejoice on poor GDP figure. These are still early days. Modi is not going anywhere and now you have to face a lady Defence Minister and she is no push over.
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Sep 03, 2017 09:36pm
Gdp slips because of introduction of GST. Whenever new reforms are introduced such things happen. Look at manufacturing data. It bounces back in July so no worries. Cabinet reshuffle was long due. .
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Sep 03, 2017 09:51pm
This economic slowdown is purely due to demonetisation and implementation of GST..... This was expected as one need to take 4 steps back in order to Leap Forward. Fruits of GST is yet to reap..
First woman Defence Minister prove that Modi government is giving importance to capabilities than politics... Master stroke..
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Sep 03, 2017 09:52pm
@alba well Pakistani -Nirmala is a "she".Our nation's second woman defence minister.
Modi aims for women empowerment and his decisions speaks much louder.
@Afzaal when there were scams, kashmiri pundit ethnic cleansing ,massive corruptions and rail -road accidents previous governments aimed at simply completing their tenures. Now we have a PM who depromote incompetent ones and promote competent politicians and previous civil servants into cabinet without playing vote bank politics.
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Sep 03, 2017 09:55pm
@alba.she not he brother.
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Sep 03, 2017 09:55pm
Was expected. The policies are for the long term
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Sep 03, 2017 09:55pm
That should be no surprise, even China's growth gas slipped. It is impossible to sustain this kind of growth for ever
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Sep 03, 2017 10:30pm
@alba It seems you know very little about Nirmal Sitharaman. He's a SHE.
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Sep 03, 2017 10:36pm
India's PM Modi is working on long term agenda and vission....wont judge at present....with honest leadership India's future is bright and positive
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Sep 03, 2017 10:38pm
Any person with minute knowledge of economy could have predicted the effect of demonetisation. Moreover, two biggest economic reforms - demonetisation and GST happened consequently, therefore the drop in GDP Growth is quite evident as businesses are adopting to the new system. Growth will be back to 7%+ by the end of this year.
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Sep 03, 2017 10:54pm
Modi is an over hyped mediocre politician.
The country needs a real leader.
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Sep 03, 2017 10:57pm
nirmala sitharaman managed commerce ministry well. india's export did not drop significantly but import had reduced substancially keeping trade defict to very low figure. furthermore, foreign investment was more than that of china-the earlier number one...
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Sep 03, 2017 11:04pm
@alba Nirmala Sitharaman is a 'she', not a he as in the comment. Criticizing is good but it's good to know whom you are criticizing
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Sep 03, 2017 11:22pm
Suresh prabhu was former top banker, now commerce minister, Piyush goyal tough task master, now tough railway job, Nirmala perfect fit for defence ...poor performer given break...and other important tasks..not VRS from politics...!!
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Sep 04, 2017 12:10am
250 million Dalits n Adivasis are not with the dictator and his government.
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Sep 04, 2017 12:33am
He should get another term as PM so that he can completely ruin its own people.
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Sep 04, 2017 12:58am
@M.Saeed ...keep hoping. What you need to know is India's growth is better than paks
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Sep 04, 2017 01:04am
@alba clearly, you don't know who "she" is.
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Sep 04, 2017 01:22am
Visionary Modi, strikes many targets with a Single arrow. He works without making much noise. He wanted to reshuffle earlier, but waited for new council inductment under India's first RSS and Dalit President - making first woman Defence Minister that too from South India. Masterstroke. Modi is shrewd, clever but comitted. He turned over Muslims to vote for BJP - like bagging 90% seats in UP vidhan sabha., then gifted a ban on Triple Talak. I saw many die hard muslim critics of him supporting him. Opposition is in tatters (not good for India though). Bless you Modi - keep being clever and comitted to India's progress.
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Sep 04, 2017 01:30am
Pakistan needs multiple Modi's to come out of StoneAge. Everyone knew Demoneytization will bring down GDP when Italian Kamvali's black money is taken out. Everything will be fine in next quarter.
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Sep 04, 2017 01:32am
Mr. SK,
"Inducted 9 former Diplomats and Bureaucrats as Ministers thereby recognising their professional competence and integrity"
But none of them Muslim? Am I right that 200 million Muslims failed to be cometent and full of integrity in India.
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Sep 04, 2017 01:47am
@alba you do not know the gender of the minister but aware of the how to protect economy..
Main reasons are the GST and demonetization.
Both were needed irrespective of growth of economy...
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Sep 04, 2017 01:50am
Economy has nothing to do with this...this is a very very common practice...happens all the time with all the govts...coming to growth rate ppl r predicting it will go above 8 per cent in the coming months this year
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Sep 04, 2017 03:36am
@alba it's not he.. but she
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Sep 04, 2017 04:54am
@alba "Nirmala Sitharaman helped mismanage the economy. Now he can help mismanage the military."
Not he but "SHE". Also she was not a finance minister.
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Sep 04, 2017 05:14am
his ad hoc decision making will destroy economy
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Sep 04, 2017 05:23am
@M.Saeed
Ups and down are a fact of economy. The bubble really bursts when the figures are fudged and urealistic.
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Sep 04, 2017 05:28am
@alba atleast learn to write gender correctly before any comment Nirmala is Lady not Guy lol
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Sep 04, 2017 06:10am
@alba Avoid giving comments when you do not know anything about how she worked.
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Sep 04, 2017 06:13am
aah - perhaps this is why Modi Govt. have been busy bad mouthing Pakistan
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Sep 04, 2017 06:29am
@Makarand if you hurt in the near-term the long-term does not matter; in the long-term we are all 'dead'.
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Sep 04, 2017 06:30am
Mr Modi is in his peter principle zone - time to retire.
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Sep 04, 2017 06:31am
Modi is working towards politics free decision making by introducing more and more buerocrates, IAS officers at the top position. Mrs. Sitharaman is a prime example of how good performers are rewarded under Modi's government.
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Sep 04, 2017 06:33am
@ ALBA " Nirmala Sitharaman helped mismanage the economy. Now he can help mismanage the military."
First , Nirmala Sitharaman is a woman ...let us not underestimate capabilities of women in our respective countries. About mismanaging, you are the best judge of your own mindset.
India has women as Foreign Minister , Defence Minister , Lok Sabha Speaker ...to name few , the list is long. And now the most important five members Cabinet Committee on Security will have two women members. Think about it Sir !
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Sep 04, 2017 06:57am
@M.Saeed .Atleast India had a Economic bubble..................We live in a bubble commenting about others.
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Sep 04, 2017 07:30am
@M.Saeed I would suggest you read the article once again. The slow down is temporary effect of demonization and GST implementation. The economy has been remonitized and GST implementation is complete. We will see the recovery from this quarter itself
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Sep 04, 2017 07:36am
Even after demonetization which affected businesses over whole India, no corner was unaffected, 5.7% growth is not bad.After things are settled, India will achieve more easily. Better future ahead.
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Sep 04, 2017 08:46am
Challange for him is to achieve high growth rate along with new job opportunities.
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Sep 04, 2017 09:01am
@Ambedkar
You all are welcome in Pakistan.
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Sep 04, 2017 09:04am
@Afzaal when your class [in your school] is reshuffled at the end of every year, it is to promote performers and push down the people with no abilities. Every organization reshuffles. You got it?
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Sep 04, 2017 09:31am
As usual low growth rate in the first quarter. It will catch up in next quarter.
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Sep 04, 2017 09:51am
@Balaji Tamil Nadu " The only thing my countrymen were proud of about our country seems like that also will come to an end "
India could reap benefits of IT and IT related services boom because of good education and fairly good command over English language.
India has learnt lessons and people are voting for development Agenda....and good education is given importance by each family in India. Knowledge based development Sir !
We are proud of all this Sir ! Think about it !
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Sep 04, 2017 10:07am
@alba He or she?
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Sep 04, 2017 10:13am
Those belittling GST and DEMO please wait for one year and see results .Tax receipts have already shown a great increase
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Sep 04, 2017 10:21am
@Aslam Qadri Your thoughts, comments and ideas after -Finally, brave steps of GST and Demonetization will bear fruit in the long run ..............to the end- are very intelligible. The massive deep rooted political and other corruptions and social ills in every level and every field have been too strong like Mt Everest to be jolted by the soft powerless wind of Demonetization and GST. Electronic media, in the long run, can also bring massive economic and socials ills of its own kind in the course of time. Religions, Politics -governance- and Economy have the same powerful ingredients of self-destruction in time.
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Sep 04, 2017 10:25am
This is the first piece of good news about the Indian economy that some Pakistanis have received it seems especially those that quote the BBC which along with other western publications have been against the cleaning of the Indian economy lest all the black money real estate investments made by our robber barons in the west would come to light. Just yesterday swiss PM was in India assuring instant financial disclosure starting in some months. After demonitization lots of digital economy boost has happened. There are still a few corrupt doctors and hotels that only take cash but their turn will come shortly. When the GDP numbers in the last two quarters of the financial year was more than 7 many western publications and their Indian puppets talked of erroneous unbelievable numbers put out but now that it is 5.7 they dont question the number but say it has gone down. Tells you the mentality is no different from the likes of Kejriwal who doubts the election commission when he loses.
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Sep 04, 2017 10:46am
@Desi Dimag Hope so but the article states that India's economic growth rate has fallen four quarters in a row to 5.7 percent and not just in the current quarter. Anyways 5.7% is not bad too. If they take right steps they will be on right track
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Sep 04, 2017 10:50am
@Aslam Qadri I agree 100 percent.
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Sep 04, 2017 10:54am
@Harmony-1©. Secrecy and Suddenness in demonetization were well intended but not well thought over from the intricate, complex and massive problems and loopholes that were bound to happen in view of the immense political and economic corruptions, vengeance and massive illiteracy in the country. It was not meant to succeed but create an awareness of multitude of problems of every colour, kind and size the country has been facing since the premature gaining of independence and the partitioning of India into two segments. India and the entire world is now facing the three brute, evil and destructive forces of Religions, Politics and Modern Economics.
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Sep 04, 2017 10:56am
Modijiiii first takecare of our own country first than care about Afghanistan development thanks
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Sep 04, 2017 10:56am
@Kumar Good thoughts and ideas.
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Sep 04, 2017 11:00am
@Amit Good and Appropriate answer.
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Sep 04, 2017 11:01am
@TBH Powerful Missle to the Target
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Sep 04, 2017 11:05am
NEW DELHI: PM Narendra Modi on Sunday picked Nirmala Sitharaman as India's first full-time woman defence minister, delivering the biggest surprise in a Cabinet recast that saw nine new ministers being sworn in, elevating the next generation of BJP leaders to key berths and inducting in-house technocrats with an eye on the 2019 polls.
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Sep 04, 2017 11:05am
With external affairs minister Sushma Swaraj, Sitharaman will be the second woman member of the Cabinet Committee on Security, an elite ministerial group that deliberates on major strategic issues.
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Sep 04, 2017 11:07am
It doesn't matter. Our neighbours are so blindly convinced by their media that there is no way Modi will suffer. A huge portion of Indian media is run by pro-BJP owners. With exception of The Hindu and NDTV, no one will give Modi a hard time for his failings and notebandi disaster.
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Sep 04, 2017 11:09am
@SK
"No political consideration or placating politicians representing cast, Religion, states etc "
Do you think those bureaucrats got their bureaucracy jobs without those considerations? They already dealt with it - so by the time Modi found them, they had already been been subject to these prejudices.
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Sep 04, 2017 11:11am
@Shoaib, proud Indian
People doubt Chinese GDP figures indeed. But are you aware that people doubt India's too after the new GDP formula?
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Sep 04, 2017 11:16am
@Anusri Tripathi
GST took effect a few weeks ago. These figures are for the last quarter. Hence, you're wrong to pin the blame on GST. Manmohan Singh is correct though: demonetization crippled India's informal economy. That is why your economy is slowing down. Not GST alone.
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Sep 04, 2017 11:19am
@TBH
Pakistans economy is growing almost as fast as India's now. Our growth rates are increasing, yours are decreasing. Ours were low because of a bad security situation between 2008-2014. Your economy is slowing down because your PM undertook one of the most foolish economic moves known in modern history.
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Sep 04, 2017 11:28am
@Ambedkar There are no more Dalits, Modi has caused them cross the boundary and have improved their status. Please do not call them with this offensive word -Dalits- anymore.
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Sep 04, 2017 11:32am
@Pak political analysis : Beautiful analysis ! I am impressed with the level of economic and political knowledge you have about countries and the steps they take to enhance their economy. I hope you are inducted into the ministry in your country to try and steer it in the right direction. Or You should be working for the Economist or the Wall Street Journal. Wonder what you are doing wherever you are.
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Sep 04, 2017 11:34am
@Harmony-1© : You can, and are free to say whatever you want, but the truth is that the life of the average Indian is getting better every day by leaps and bounds.
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Sep 04, 2017 11:53am
@Khan
It is all about pre GST actions initiated by many Companies Sir ...very elaborate to explain here !!
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Sep 04, 2017 11:59am
@Vivek (Indore)
If you'll please note, India's GDP figures are for April to June, but you're blaming GST for this dip when GST was introduced in July. Meaning GST largely isn't even represented in this 5.7% rate. And it isn't just demonetization - India's economy is buoyed by public sector spending. Without it, the real growth rate is about 4%. And that's assuming you trust India's GDP calculations, which is a whole other issue.
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Sep 04, 2017 12:06pm
@Khan
As long as Dar is your Finance Minister, we are fine.
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Sep 04, 2017 12:14pm
@Aslam Qadri Yes, in the long run India will gain. Tax collections exceeded the target.
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Sep 04, 2017 12:24pm
@ KHAN
Friend, all this seems to be your only weapon of choice which is … defensive pessimism for survival in the competitive world. But one cannot bring positive change in the nation with this kind of negativity…. Just for your knowledge in the long-term, demonetisation will accelerate the formalization of the economy… the implementation of the GST is a key complementary reform that will support formalization, as firms have a strong incentive to register with GST to obtain input tax credits.
GST has already resulted into higher tax collection, greater digital financial inclusion which will make India’s fundamentals stronger and yet not increase the burden on the poor. Prices of items of daily consumption have gone down. Given the efficiency and revenue gains that the reform will eventually achieve, the overall impact of the GST on equity and poverty is likely to be positive.
Hope little bit is clear now !!
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Sep 04, 2017 12:30pm
@Khan : Who cares about GDP. Life is great and is getting better every day here in India.
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Sep 04, 2017 12:32pm
@ KHAN
Though unpalatable , I agree to this. All this is the correct assessment of Indian economy which will burst like a bubble !
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Sep 04, 2017 12:50pm
@ KHAN
As rightly pointed out here demonitisation and GST are the biggest mistakes India made .....and GDP downfall will be constant pain....it is Waterloo !!
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Sep 04, 2017 01:48pm
@Harmony-1© sir we leave in india & we know what has happened after demonetization. Property prices are softening for dearth of black money. Black money is not as easy to get as earlier. Demonetization is no magic stick which will wipe out entire corruption in single go. There are collateral measures which is being undertaken & there is long way to go. I agree that government underestimated intellectual of black money hoarders. 99% of the money is returned by orchestrated ways & means. To back demonetization, tax reforms are necessary
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Sep 04, 2017 01:50pm
@Pak political analysis dear sir, keep doing analysis of pakistan only. India is not your cup of tea
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Sep 04, 2017 01:52pm
@Afzaal At the end of the day it's all about performance. Performers have been rewarded and nonperformers have been shunted out.
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Sep 04, 2017 02:18pm
@Justice NARADA MUNI - If "the life of the average Indian is getting better" then that's a good thing then and neither did I say its not. I simply quoted what's been reported and what the RBI report says!
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Sep 04, 2017 03:12pm
@M.Saeed The bubble has already burst as Dr Manmohan Singh had predicted.
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Sep 04, 2017 04:19pm
Wrongly informed - This Reshuffles cabinet has nothing to do with economy....!!! Reshuffles cabinet becoz of few recent changes in party expansion and election.
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Sep 04, 2017 05:32pm
@M.Saeed I doubt if you even know the meaning of economic bubble.
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Sep 04, 2017 05:58pm
@Khan : Exactly Khan. When we got the best finance minister in the planet Dhar and his very pragmatic plans elevated pakisthan to newer heights and boost in the economy, man in the street feels the afflluance in pakisthan.. India going bankrupt soon and may need our help for survival ! great going in Pakisthan !!!!
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Sep 04, 2017 06:25pm
When the boat starts sinking, the rats get rattling and running here and there.
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Sep 04, 2017 07:53pm
@Vinnie N. .Thanks Vinnie N for your great appreciation & comments, I live in US, but my parents were Indian origins, migrated to Pakistan safely,but left huge properties behind,a new beginning was made by my father in Karachi, again we rose better, but later I prefer to shift to US with my small family while my parents are no more. That's short story about me.I kept on updated about people standard of life of sub- continent, be a begger or peasant at Howrah Kolkata,or a abnormal begging child at Hala Sindh Pak, I felt their pain I see or I read any event against the downtrodden I got hurt. I did my best to convince the Pak Govt to open trade with India, I achieved success to great extent. My great wish to see India&Pakistan neighbors like US&Canada. I express my criticism on policies of rulers in Pak & India, I hate their arrogance,corruption, the people of Sub- Continent must have a better standard of living, their good destiny,not always talking about fights with empty stomach.
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Sep 04, 2017 08:16pm
Rearranging chairs on the deck of sinking ship doesn't help. Modi needs to make
tough decisions to right the downward trajectory of the economy. Make in India announced
with fanfare grabbing the headlines grew only by 1.2% in the latest quarter. Slogans
don't create facts.
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Sep 04, 2017 08:21pm
@M.Saeed Don't be happy so fast, short term pain for long term gain. Everybody knows that GDP will fall bcoz of demonetization. Now with that done, GST introduced, all money back into banks and accounted, tax base widened, Govt subsidy's deposited directly into peoples bank account... India has set the infrastructure in place for inclusive growth, and with land reforms, benami property act and election funding bill to come in..a Great
time for Indians in the offing. Modi has done in 3 years what Congress messed in 70 years.
Hindustan is at last ruled by Hindustanis!
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Sep 05, 2017 01:07am
@M.Saeed The slow down to 5.7% was expected due to demonetization and GST roll-out, manufacturing was halted due to confusion over tax rates. Indian economy will soon hit 8%.
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Sep 05, 2017 01:11am
Indian economic bubble is burst. GDP for next fiscal year is supposed to be 3.5 - 4.2 .Much lower than Pakistan . After CPEC completion , Pakistan will be in a position to financially assist India.
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Sep 05, 2017 02:31am
If economy dip is something which will have long term impact, the indicators are soon going to show up in terms of foreign direct investments. So far, stock markets are showing no sign of slippage and are moving at an all time best.it is pragmatic to watch the numbers over 2-3 quarters
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Sep 05, 2017 03:56am
Sometimes, one has to take a step back in order to move forward. Don't worry India will rise.
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Sep 05, 2017 09:16am
@M.Saeed Talking about China? then yes, WHY? Because more than 80% of their Industry belongs to PSU's and almost less than 20% belongs to Private Sector. If you can make out, its dangerous of any economy. It means, government gives loans to government companies. Defaults would not be revealed as they can harm image of the Chinese economy. Best Wishes...
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Sep 05, 2017 12:00pm
Normally when inflation declined it will also affect GDP and interest rate simultaneously. It is always very difficult to achieve higher GDP with low inflation. Sitharaman, female member has proved its efficiency , sincerity , honesty & has been appreciated by offering post of Defense Minister. Woman has get two VIP seat one in foreign ministry & another is defense . Can it be woman empowerment ?
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Sep 05, 2017 02:01pm
Pm position should be resuffled. After he come to the power he took some foolish decision of demonitisation GST...etc. He himself is responsible for declining the indian economy.
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Sep 05, 2017 02:14pm
Six ministers resigned to make way for the new faces; sources said they were largely pink-slipped over performance. Government sources said PM Modi based his selection of new members for his team on "4Ps - passion, proficiency, professional and political acumen", to deliver on his vision of "a new India"
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Sep 05, 2017 07:58pm
Though there is an enormous downfall in economy, still Modi will make his way to win next elections using India's usual political tactics.
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Sep 05, 2017 08:04pm
@alba Nirmala Sitharaman is a female you stupid
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Sep 05, 2017 08:39pm
@alba Nirmala is a she.
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Sep 05, 2017 08:56pm
Modi government failed to implement & deploy the demonetization in a correct way. Its a bold decision and is widely accepted by the Indians. Impact is that the day to day business stranded fully along-side confusions. After implementation there was no necessary and complete directives from the government which hit the small business very hard and they are unable to recover even now. It appears that the plan was not comprehensive and is very naive. The success of demonetization is still questionable.
Unfortunately similar decisions are made to implement GST across India without giving small business with clear directives and awareness. It has reached heights of confusions with implementation of GST and small business have failed to absorb the directives. My personal opinion is that government has repeated the failures which makes less confident with Modi's governance.
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Sep 05, 2017 11:39pm
Finally! Do not perform, you are fired! That is the way to produce results.
When same happens in private sectors why should government employees be exempt from performance evaluation? Finally after 65 to 70 years, India is moving in correct direction.
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