All things Money Thread

adsatinder

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Nirmala Sitharaman Refuses To Answer Questions On Economic Slowdown
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•Sep 1, 2019



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Finance Minister Nirmala Sitharaman addressed a press conference to talk about the growing concerns over the economic health. Asked if the Centre acknowledges the fall of GDP figures, job losses as an economic slowdown, Sitharaman skirted the question and engaged in an argument
 

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PM Modi doesn't know any economics: Subramanian Swamy | ThinkEdu2020
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•Jan 11, 2020



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Subramanian Swamy tells TNIE Editorial Director Prabhu Chawla what he thinks is the way forward for India's economy and why a $ 5 trillion economy is not possible to achieve at this rate
 

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Oxfam report 2020 को World economic forum, Davos के 50th session में release किया गया
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•Jan 21, 2020



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India's richest 1 percent hold more than four-times the wealth held by 953 million people who make up for the bottom 70 percent of the country's population, while the total wealth of all Indian billionaires is more than the full-year budget says new Oxfam report. Oxfam said the combined total wealth of 63 Indian billionaires is higher than the total Union Budget of India for the fiscal year 2018-19. The report flagged that global inequality is shockingly entrenched and vast and the number of billionaires has doubled in the last decade.
 

Big Daddy

Super User
Already Wallmart is here and now able to do much.
Alibaba also here but still paytm is in loss.
Why ?

They are simply destroying Wholesale Markets and Manufacturing Sector.
China is emerging as best source.
Why India is not getting similar facilities like Chinese Manufactureres get in their country ?
You already said that they destroyed wholesale markets. Amazon's presence will gurantee that Walmart cannot become monopoly and vice versa. The Indian monopolies are getting destroyed.

India should never follow China. There is some foolishness in China regarding overspending. Overspending is also wasting money. Private sector only spends money that gives positive returns.
 

adsatinder

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You already said that they destroyed wholesale markets. Amazon's presence will gurantee that Walmart cannot become monopoly and vice versa. The Indian monopolies are getting destroyed.

India should never follow China. There is some foolishness in China regarding overspending. Overspending is also wasting money. Private sector only spends money that gives positive returns.
Manufacturer and wholesaler system is much destroyed by Chinese invasion.
East India company is invited already !
East India Company = FDI

They will rule here in coming years for generations.

Make In India
Is just a slogan of mouth war to get votes only !
Nothing is done in practical aspects.
 

Big Daddy

Super User
I think Indians deal with platitudes and ignore reality. FDI is not an East India Company. The Indian government can create labor laws, minimum wage, etc. and international organizations will meet those expectations. Walmart and Amazon are operating under constraints imposed by Indian laws. Laws are negotiable and changeable. None of that really mattered to East India Company. East India Company got into governance, law creation, and law enforcement. If Indian laws are two stringent then companies will leave. The government also taxes International companies, so it is not like India is not getting anything. Government gets taxes and Indians get jobs. So what is such a big deal if shareholders get wealthy?

You can see why Modi keeps distracting. When you have billions who do not much understand anything, he has to either distract, ignore or be tone-deaf. Indian universities are into giving cheap education and graduates do not know much either.
 

adsatinder

explorer
I think Indians deal with platitudes and ignore reality. FDI is not an East India Company. The Indian government can create labor laws, minimum wage, etc. and international organizations will meet those expectations. Walmart and Amazon are operating under constraints imposed by Indian laws. Laws are negotiable and changeable. None of that really mattered to East India Company. East India Company got into governance, law creation, and law enforcement. If Indian laws are two stringent then companies will leave. The government also taxes International companies, so it is not like India is not getting anything. Government gets taxes and Indians get jobs.
These companies are not at all doing Make in India.
They are making / tapping market only here.
Only Marketing Staff will get some jobs.
Manufacturing Units have more jobs in India if it becomes manufacturing Hub.
Chinese products are being sold in umbrella of these brands.
This is the Main Problem.
All Money and Profit will goto other countries.
What India will get ?

Companies are working here in long term with losses in starting years.
Indian Company can't survive so long like Nestle did in African Countries for 20 years or more to make it's market in that existing market.
This is the main Problem with FDI.
Then they have to spend / donate in Elections in So Called White Money (Swiss or other type of money in modern terms) only.
No Corporate can survive without any donation in Indian Elections.
Gradually they will become stronger with long term Losses.
After sometime with help of local management participants they may become stronger than anyother Indian Large Corporate Company.
Then they will become influential enough to become Chair Person Maker / King Maker.
This is going in all the Large Countries too.
US of A have similar tendencies as Lobbying exists there from long time.
Who is Lobbyist ?
Sponsored Elected Representatives are part (Tip of the Iceberg) of Lobbyists in same way it was in earlier era of Kingdoms.
This is not meant for a particular party.
This is universal thing.
 
Last edited:

citymonk

Super User
So what is such a big deal if shareholders get wealthy?
Motive of east India Company too was same. Only their means where bit outdated
by 1857, queen took over after that. Even after 1947 British ensured their interests were well looked after. Then we had Emperor, Nawabs and Kings gifting them one fortune after another and Now we have there counterparts doing same thing, Narinder Modi, Mallaya and Nirav Modi.
All are helping London to be more rich.
 

Big Daddy

Super User
These companies are not at all doing Make in India.
They are making / tapping market only here.
Only Marketing Staff will get some jobs.
Manufacturing Units have more jobs in India if it becomes manufacturing Hub.
Chinese products are being sold in umbrella of these brands.
This is the Main Problem.
All Money and Profit will goto other countries.
What India will get ?

Companies are working here in long term with losses in starting years.
Indian Company can't survive so long like Nestle did in African Countries for 20 years or more to make it's market in that existing market.
This is the main Problem with FDI.
Then they have to spend / donate in Elections in So Called White Money (Swiss or other type of money in modern terms) only.
No Corporate can survive without any donation in Indian Elections.
Gradually they will become stronger with long term Losses.
After sometime with help of local management participants they may become stronger than anyother Indian Large Corporate Company.
Then they will become influential enough to become Chair Person Maker / King Maker.
This is going in all the Large Countries too.
US of A have similar tendencies as Lobbying exists there from long time.
Who is Lobbyist ?
Sponsored Elected Representatives are part (Tip of the Iceberg) of Lobbyists in same way it was in earlier era of Kingdoms.
This is not meant for a particular party.
This is universal thing.
You guys have some serious biases. Why should anyone make anything in India if it will be expensive and low quality? This is exactly the fundamental problem with Indian culture of entitlement. They want money but do not want to deliver.

What does India get? Well, India gets low inflation, jobs and the Indian government gets taxes. If India was not getting anything then those companies would not be in India in the first place. The Indian government would have kicked them out already. The arrogance of Indians is appalling. The mere existence of these companies in India proves that India benefits more from their presence in India. Go ahead throw them out and then lose jobs and buy high-cost products. In fact, you do not even have to throw them out. Just legislate or increase taxation and the companies will leave India because some other country might become more competitive.

Free markets are free. No one is asking India to keep those companies and no one can stop these companies from leaving India either. If you want to make things in India then create an environment to make things in India. You cannot dictate foreign companies to make things in India at a loss.

A good example is Air India. The Indian government is begging foreign companies to buy Air India and its debt and no one wants to buy it and that includes Indian aviation companies. Air India is a hallmark of Indian ineptness and irresponsible behavior. Those politicians have taken so many free trips and AI has given so many benefits that now there is no cash to pay salaries.

You do not want FDI then work for free and do not get paid. It is happening in many places and soon pensioners would not get paid either.
 
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