To accelerate growth, moving forward, it is clear that the government doesn't have the capacity. The private sector has to do it. Therefore, you need to ensure that there is conducive policy environment" R.B.I.could come out with the statistics of unrecovered loan year by year and the loss or gain due to that every year to Indian economy.The FICCI should come out with statistics yearwise for the Growth of the nation telling contribution to income raise or growth of Indians,to the export earnings to the country each company has brought about proportionate to the loan taken from banks and Public excluding their Pvt. equity.Then let the requisite conducive policy environment come about.Let the policy come about from performance.R.PONNAMBALAM
To accelerate growth, moving forward, it is clear that the government doesn't have the capacity..Correct.If it has got it,to my mind ,it is willingness to develop India it would have gone back to Nehruvian Mixed Economy without putting all the eggs in the one basket, the pvt.Sector.(is putting all the eggs in one basket a strategy?)What is needed is so simple.Tell the unions to behave or get lost.Mr.Baghram Tulpule did it in all fairness in Durgapur Steel Plant and made unions change their thinking and brought betterment in 1972-75 or so and an Army man did such good things , running Govt. of India company profitably in 1982-85.Govt.if you need developmenet for the nation do not put all the eggs in one basket the pvt. sector.If the Secretariats of ministries do not come supporting unions due to political pressure all companies can be easily run,well run.Neither are workers unreasonable always.GOVT.you and everybody has to work hard for development.The Govt. gave the authority to Pvt. Sector and puts heads down to come to know thatfor Top 1% earners income is 22%now as compared to 6%in 1980and Over 1980 -2014 top 0.1% Earners (of India )captured a higher share of the total growth than the bottom 50% ( earners of india)(12%versus 11%) > So INDIA BY YOUR PRIVATIZATION YOU HAVE WORKED ONLY FOR THE DEVELOPMENT of TOP 0.1% earners .I SALUT MY GOVT.STATISTICS FROM research paper paper by Thomas Piketty and Lucas Chancel web site WID.world as published in a news pap
Patel said such a move was "anti-growth".It must be clear telling anti growth of Poor man or Rich man.There exists great disparity.In1980s top 1%. Captured 6% income. Now for Top 1% has22%income .Over 1980-2014Top 0.1% Earners (of India )captured a higher share of the total growth12% and the bottom 50% earners captured11% whereas Over 1950-1980 the bottom 50% captured 28% of the total growth This statistics is from Research report of Chancel and Piketty
Re: Privatization hasdropped earning of bott.lev. 28% to11%ie60.7
by Srinivas on Oct 14, 2017 05:18 PM
Are you saying that "Top 1% accounting for 6% income in the 80s" becoming "Top 1% accounting for 22% income now" is bad ?
Do you know that it is countries with this kind of disparity whose GDP has grown faster over the last few decades ? Don't go by such percentage contributions - look at the income level of all the segments and how that has gone up. It's good for the overall country/ economy if the Top 1 - 5% accounts for an even higher share of the income.
This is the problem with looking at statistics partially and taking data points which suit our argument.
"it is a myth that there was no new jobs creation".India has ONLY MYTHS.SO IT REMAINS MYTHOLOGICAL.An ordinary Indian wants to know when we can make missiles and Bombs , high end products by GOVT run units why do we import bolt ,nut plastic products auto spares from China who started Industrialization almost at the same time along with us. That is when their yuan is much stronger .How the investment in state of the art machinery in China and India compare that we have competitiveness. We plebians must be told and taught of good things done by our Pvt. sector.If what Pvt. sector does has improved the life of common man he will be happy to see bank loan go at lesser interest ;otherwise NOT R.PONNAMBALAM
Because we do not have produce annual employment data, so everyone is talking in thin air.Let us accept it is as failure on our part or a deliberate attempt to mask reality.Somebody else has done it;something relevant and useful. Here is report "This report of Chancel and Piketty was quoted in an Indian Newspaper almost a month back thus”. Income inequality in India in 1930s >Top 1% earners captured 21% of total income.In the early 1980s top 1%. Captured 6% income. Now for Top 1% has22%income . Over 1950-1980 the bottom 50% captured 28% of the total growth .Over 1980 -2014 the bottom 50% captured 11%) . Top 0.1% Earners (of India )captured a higher share of the total growth than the bottom 50% ( earners of india)(12% . The man on the road has the same purchasing power for 60 yrs. We are telling every year year GDPgrowth IS IT GREAT DISPARITY PROSPERITY?that India is achieving
"We want a drop in interest rate. This (interest rate) is a huge problem now for us. Real interest rate in India today is touching six percent", RBI had remained for long letting the CAPITAL LENT itself drop out from recirculating use for the development of Indian Economy.If we had been silent then we should be silent now too
