Someone pls tell this fool that Pakistan,mugal ,jumlas no more work..shameless galli politics by man who leading the country.. You can fool people sometimes but not all the time...
"reforms juggernaut" Reform for what development or devourment.The Research report by Thomas Piketty and Lucas Chancel renowned economists web site WID.world tells". Income inequality in India in 1930s >Top 1% earners captured 21% of total income.In the early 1980s that dropped to 6% income for top 1%and Now it 22%income for Top 1%"So during the Reforms the Rich have amassed wealth.Indian Economicsdom doesn't study such things and brings out facts.It does a pleasing job to the rich. Ex.V,P. quoting Credit Susse said while addressing a conference "while the top 10 percent controlled about 74 percent of wealth. the poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"What this 1.4 % wealth holders can invest and contribute their share of GDP.REFORM ARE BENEFITING THE RICH.PITY ,even proletarian parties had never questioned these things all along.R.PONNAMBALAM
Re: Indian Economic Devourment by Reforms
by Srinivas on Dec 20, 2017 12:08 PM
Mr.Ponnambalam, I remember reading the same point made by you earlier.
What's wrong ? From a Communist/ Socialist perspective, this huge disparity appears to be unfair. However, do you know that the best GDP growth rates in different countries have been achieved, when this disparity is high ? Reason being the cascading down effect of the wealth concentrated at the top.
Here's some theoretical maths for argument sake. In the 1980s, let's assume that the population was 100 & wealth was Rs. 100, with 1 person having Rs. 10. Assuming the population is still 100 today, which scenario would you prefer ? 1. Total wealth of Rs. 200 with 1 person holding Rs. 20 (as you seem to want), hence balance 99 people have Rs. 180 (or) 2. Total wealth of Rs. 1000 with 1 person holding Rs. 300 & the balance 99 people having Rs. 700
Re: Re: Indian Economic Devourment by Reforms
by R ponnabalam on Dec 20, 2017 02:38 PM
An expectation is that at least such things should have been brought out from indian side for control is measuring the outcome ,comparing it with the expected,doing correction before it spins out of control.I feel we have not chosen to control by not bringing out such things.The GDP growth we say for years together.How far it has helped the purchasing power of the lower 30% of people.GDP is said to be one measurement.Fine! what other measurements are needed to ensure the people are equitably served.We are a constitution amendment declared socialist country where the disparity has shoot up after privatization and market Economy.That should not be.There should have correct monitoring on it.As a COMMON MAN my feeling is that IT WAS MISSED.If during Public Sector days the position of the lower income was better why this country is doing away with it.For GDP growth it is said investing (not investment)is needed,If 30% people have 1.4 % wealth what can be invested from that to contribute to GDP. If top 10 percent controlling about 74 percent of wealth contributes to GDP the benefits also would go to them substantially.As an ordinary man my outlook is the ratio of growth of income or wealth of bottom 30% against GDP growth of the year.As for the stress on disparity that is as obtainable in news from respected sources.What you had said was also available in that report.I don't question any of these or am commenting on that.But in different countries the standard of living, health
Re: Re: Indian Economic Devourment by Reforms
by R ponnabalam on Dec 20, 2017 03:00 PM
Care, the so called Cleanliness are phenomenally higher.We are far below.Even today there are people who get wages like 400 per day wheres a hotel meal costs Rs 70 to Rs.100.In my college days I paid 65 paises for meal.today in the same town it is Rs.70,Rs80 or Rs100 .The wage rise has not gone up. My feeling is that with the top 10% controlling 74% wealth and contributing to GDP also the benefit of GDP growth substantially goes to them and just showing the GDP growth is not enough &is a gross misrepresentation to tell where the common man stands in the ladder of equity ..The repetition is because no better date of income rise of bottom 30% against GDP growth year wise is available.Moreover that research report also had said that the income rise of top1% had come down from 1950 to 1980.Then also there was GDP growth may be at that 5%.I have no intention of comparing the disparity of wealth accumulation as against GDP.My stress is altobether different R.PONNAMBALAM
In my opinion all the BJP needs to do now is not burn money on Infrastructure projects.
All they need to do now is waive all the farm loans across the nation in one go. This will give them rural votes. And a BJP PM in 2019.
Not a big deal at all. Instead of giving 2.1 lakh crores to the banks to fill NPA...they should have declared a farm loan waiver and reimbursed the amount to the banks.
Re: Tax reforms
by janga sridhar on Dec 19, 2017 08:57 PM
Inflation is an inherent part of growth. No tax payer is ever happy, paying taxes. Where will the money come from for all the social spending if there are no taxpayers.
Modi is trying to increase the tax base so he could reduce tax rates and that is what people are not liking.
