Supreme court will probably not strike down these Love Jihad laws being championed by the BJP despite being in direct violation of Article 21. Its scary the level of control this government has over the judiciary. Becoming more on more authoritarian every day.
Complete garbage "analysis". Not because it is portraying the wrong numbers but it is not giving proper context to them. Its lazy writing/Is the WSJ's analysis at all accurate? Can you really attribute most of the economic decline to people choosing to save? Sounds a bit disingenuous given the scale of impact on the informal economy that so many people rely on.
- ActivistsCant see these Farmer bills standing in their current form. Too much opposition against them.
Dumb move, trying to demonise farmers by calling them separatists. The hate for Muslims is centuries old, its easy to scapegoat them. Why did these cnuts think the same strategy will work with poor downtrodden farmers is beyond me.
Ludhiana MP Ravneet Bittu on Wednesday urged Shah to take control, noting that undesirable elements, including some Khalistan elements, had penetrated the protests and were hijacking the agitation.
The three farm laws offer three basic freedoms to the farmer. One, he can now sell anywhere to anyone, freeing him from having to sell to a monopoly cartel at the APMC mandi. Second is the freedom to store inventory which was constrained so far by stocking limits in the Essential Commodities Act. This gives incentive for cold storages to come up, to whom farmers can now sell directly. Third, it gives farmers freedom to make forward contracts, transferring their risk to businessmen, leading hopefully to a freedom to lease unviable lands for a job and a share in profits.
https://www.tribuneindia.com/news/p...y-ahead-of-farmers-meeting-with-centre-179001
Farmers are not being termed separatist. Khalistani sponsored elements are present and even Punjab CM who is from INC was concerned about National security implication.
Poor farmer analogue is also quite not correct. The median salary of all the farmers in India shows that Punjab and Haryana have some of the richest farmer in the country.They have been prime beneficiary of MSP and present NDA government MSP procurement.
https://timesofindia.indiatimes.com...ut-vociferous-group-over-the-silent-majority/
You cant be serious?
Farmers Khalistani
Muslims Terrorists
Students communists.
Every form of protest is a threat to the nation.
Jai Aryavat!
Yeah Punjab and Haryana have rich farmers, lets push them into poverty right? Farmers should remain poor.
So the lakhs protesting they are being misled right? I personally know lots of folks from farming families, each and everyone is staunchly against these bills. Curiously only the media is able to unearth these individuals who support these bills.
It's not a question of right wing or left wing. Opening up market has helped almost all the sector in this country. Similar protest happened when other sectors were opened up in 91 and look how silly they look.Shekhar has been a right-wing supporter of privatisation since at least 2003, when I started reading papers (he was editor of IE at that time). The reason he's considered part of the opposition now is because his paper covered the riots in Gujarat extensively, and he stands by that reporting and what it implied about Modi.
Do you disagree with his opinion? Do you not see how farmers are being exploited by middlemen in various parts of the country. We have surplus of wheat and rice while we import other agricultural products. Don't you think it's bit odd that we haven't rectified it.
https://www.tribuneindia.com/news/p...y-ahead-of-farmers-meeting-with-centre-179001
Farmers are not being termed separatist. Khalistani sponsored elements are present and even Punjab CM who is from INC was concerned about National security implication.
Complete garbage "analysis". Not because it is portraying the wrong numbers but it is not giving proper context to them. Its lazy writing/
There are multiple things to know before you start understanding the reasons behind the GDP growth/ decline curve
(1) India was in the midst of a growth slowdown prior to the pandemic. GDP growth had slowed down from 7%+ to 4% yoy in the qtr ended Dec-19. " The rate of the country’s economic growth had stood at a six-year-low of 4.5 per cent in the previous quarter (Q2) and 6.6 per cent in the same quarter a year earlier (Q3 of FY19). India’s GDP growth in full FY19 had stood at 6.8 per cent. "
This was primarily due to missing private sector capex over the last 7-8 years as banks were unwilling to lend and demand was weak for strong companies to justify adding capacity. this resulted in weak job creation.
(2) India's lockdown was one of the most severe globally. Our dear PM chose the lockdown method much earlier than other countries. When India went into a complete lockdown towards the end of March, we had less than a thousand cases. Our lockdown was complete and draconian. This resulted in a complete shutdown of services. Eating out, local transportation, construction, home/ auto purchases, logistics for goods, non essential retail - anything discretionary was just shuttered. No - "our rights and we want to earn" nonsense. Many people lost jobs/ lots more didn't but didnt get paid beyond May and even more just went back to their villages because we had a very good monsoon season. This meant agriculture generated enough income to support influx back home.
This is very unlike the lockdowns seen anywhere else. And therefore, our GDP took a larger hit compared to the western world. Our lockdown, in various phases, lasted till August and therefore even 3QCY20 was poor.
(3) Fear. A country the size of India going into a uniform lockdown resulted in significant panic and feats of uncertainty. This caused people to to (a) focus more on savings and (b) had no avenues to spend since everything was locked down. This may have resulted in a small spike in savings rate but that is for too small a time period for it to be meaningful. India's household savings rate has been on a steady decline for the last decade and there has been no significant improvement in income levels for Indians to start saving more.
(4) Lack of funds: Unlike the western world, India doesn't have the strength to print cash and stuff it down people's throat. Most programmes are extended credit terms and loan driven. This has resulted in further encumbrance of debt at small/ informal business level at the expense of organised businesses that just used the lockdown as a reason to tighten their credit terms with their vendors and distributors. In fact, in the listed universe, I haven't seen such sharp reduction in debt in Indian companies for a while. This further hampered spending.
Now that we know the 4 reasons of why the slowdown was more severe than the rest of the world, it is also important to know how it is bouncing back.
(1) Unemployment has fallen as businesses have restarted (link).
(2) There has been an element of pent up sales - auto sales, home sales, electricals and electronics sales, rail freight, power consumption, cement consumption are all growing at double digits in November 2020 vs November 2019 (note that the base is a pre-COVID one). So its impressive.
It is understandable why the bounce back is sharp. Unlike many countries, India isn't really dependent on one sector or commodity for its GDP. Our GDP growth is a lot more linear because our incomes aren't dependent on tourism, sale of oil or even the export sector. Consumption is still relatively basic and therefore essential. Moreover, since the economy is informal, people just get employed back in a jiffy when business owners call them back to work.
Therefore, when you see WSJ put up a similar article in MArch 2021, you will see 2 quarters of growth far higher than anywhere in the world
--- BUT-----
That doesn't mean everything is hunky dory. The fact remains that India was slowing down pre-pandemic. Job creation and income growth for an average person has been broadly stagnant for the last 5 years. Banking system was overloaded with bad loans until we looked like we were turning a corner towards the end of last year and then COVID happened. Things now look like they aren't as bad as we initially feared but even getting back to pre-COVID run-rates aren't great shakes for a country that is pumping an inordinate number of people into the work force each year.
Whether this turns out to be a turning point to revert to 7% growth of whether the current growth figures are just a result of "pent up demand" which will normalise back to low single digit growth is yet to be seen. For longer term growth to go back towards 10%, India needs massive policy reforms and a need for private enterprise to reinvest in manufacturing capacities. This will create jobs. In the absence of that India will continue to struggle.
tl;dr: I don't know what will happen but WSJ analysis is weak
Gotta love this country.
@pratyush_utd
There are some interesting quotes from Bihar about farmers, APMC, mandis, etc in the article I posted.
e - less growth than Bihar - western countries have consistently less GDP growth than us. That is because they start from a higher base. Punjab, a geograhically very small state, provides a sixth of our grain stock, and has been the leader on this for decades. Bihar can grow because productivity is much lower. To attribute this to the lack of MSP is insane. Further, about subsidies - once again, the largest spend by the EU is on farm subsidies. The US govt has millions of tonnes of cheese rotting in its godowns to suport the US dairy industry. Every car in the US burns ethanol to support the corn industry. Every snack in the US has corn syrup to support the corn industry. These are the people we want out farmers to compete with.
Which begs the question(s), if it's such a good thing for farmers, why the subversion? Why no efforts to educate and stop the 'misinformation'?All this big brain pyrotechnics for a bill which was passed by subverting the due process.
Because 56” and Adani has invested/created a bunch of agro related business over the past year.Which begs the question(s), if it's such a good thing for farmers, why the subversion? Why no efforts to educate and stop the 'misinformation'?
@pratyush_utd
There are some interesting quotes from Bihar about farmers, APMC, mandis, etc in the article I posted.
e - less growth than Bihar - western countries have consistently less GDP growth than us. That is because they start from a higher base. Punjab, a geograhically very small state, provides a sixth of our grain stock, and has been the leader on this for decades. Bihar can grow because productivity is much lower. To attribute this to the lack of MSP is insane. Further, about subsidies - once again, the largest spend by the EU is on farm subsidies. The US govt has millions of tonnes of cheese rotting in its godowns to suport the US dairy industry. Every car in the US burns ethanol to support the corn industry. Every snack in the US has corn syrup to support the corn industry. These are the people we want out farmers to compete with.