All things Money Thread

Big Daddy

Super User
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 Only their means where bit outdated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.
East India Company had no shareholders. It was privately owned by rich greedy people and the UK government did not mind taxes it generated. Those were a bunch of ruffians who came to India to extort things. EIC called itself a sovereign so it did not owe any taxes to Indian government. Ironically, EIC copied from Dutch India Company. The Dutch India Company was running Taliban style poppy planting operation in fertile Bengal. Those guys would even burn excess crop yields to lower supplies and keep narcotics prices high in Europe.

India was probably a drag on the British Empire. If the British were any smarter, they should have given up nation-building and even governance and left India alone. I think Indians "trapped" the British into "Make in India" operations and the British Empire dismantled because of it.

Today's companies that operate in India have shares that even Indians can buy so if those companies make money then Indians benefit as well. These companies pay taxes to the Indian government for profits that are generated in India.
 
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adsatinder

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Loan defaulters rising in the country due to delay in salary and slowness in business

सर्वे / वेतन में देरी और कारोबार में सुस्ती के कारण देश में बढ़ रहे लोन डिफॉल्टर

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प्रतीकात्मक फोटो
  • पेटीएम फंडेड फाइनेंस टेक फर्म क्रेडिटमेट ने यह सर्वे किया है
  • 40 बैंकों के दो लाख से अधिक कर्जों का विश्लेषण हुआ

Dainik Bhaskar
Dec 10, 2019, 04:34 PM IST


यूटिलिटी डेस्क. एक सर्वे के मुताबिक यदि व्यक्तिगत कर्जदार समय पर अपने लोन की किस्त नहीं चुका पा रहे हैं तो उसकी सबसे बड़ी वजह वेतन मिलने में होनी वाली देरी है। इसके अलावा कारोबार में संकट की वजह से भी वे लोन नहीं चुका पा रहे हैं। एक सर्वे में यह निष्कर्ष सामने आया है। रिपोर्ट के अनुसार 36 फीसदी लोग देर से सैलरी मिलने के चलते बैंक का भुगतान समय पर नहीं कर सके। वहीं, 29 फीसदी मामले ऐसे हैं, जिनमें कारोबारी सुस्ती बैंक रिपेमेंट में देरी की वजह बनीं।

यह सर्वेक्षण ऐसे समय आया है जबकि कुछ माह पहले जारी आधिकारिक आंकड़ों के अनुसार देश में बेरोजगारी की दर चार दशक के उच्चस्तर पर पहुंच गई है। कॉरपोरेट लोन की मांग कम होने की वजह से बैंक अपने बही खाते को आगे बढ़ाने के लिए काफी हद तक रिटेल लोन पर निर्भर हैं।

पेटीएम फंडेड फाइनेंस टेक फर्म क्रेडिटमेट की सोमवार को जारी रिपोर्ट में कहा गया है कि मौजूदा सुस्ती की वजह से देशभर में ऋण वसूली प्रभावित हो रही है। यह रिपोर्ट पिछले छह माह के दौरान 30 राज्यों में एनबीएफसी सहित 40 बैंकों के दो लाख से अधिक ऋणों के विश्लेषण पर आधारित है। लोन के भुगतान में देरी की सबसे प्रमुख वजह वेतन मिलने में होने वाली देरी को माना गया है।

*82% लोन चूक के मामले पुरुषों से जुड़े हैं*
सर्वे में एक रोचक तथ्य सामने आया है। महिलाओं की तुलना में लोन नहीं चुकाने के मामले पुरुषों के अधिक हैं। 82 प्रतिशत लोन चूक के मामले पुरुषों से जुड़े हैं। लोन भुगतान करने में तो महिलाएं आगे हैं साथ ही बकाए का भुगतान करने में भी महिलाएं आगे हैं। पुरुषों की तुलना में महिलाएं 11 प्रतिशत अधिक तेजी से बकाया का भुगतान करती हैं। शहरों की बात की जाए तो मुंबई, अहमदाबाद और सूरत में लोन भुगतान की दर सबसे बेहतर है। इस मामले में दिल्ली, बेंगलुरु और पुणे की स्थिति काफी खराब है। राज्यों में ऋण प्रतिबद्धताओं को पूरा करने में ओड़िशा, छत्तीसगढ़, बिहार और गुजरात का प्रदर्शन सबसे अच्छा है। वहीं मध्य प्रदेश, हरियाणा, दिल्ली-एनसीआर और तमिलनाडु का प्रदर्शन सबसे खराब है।


वेतन में देरी और कारोबार में सुस्ती के कारण देश में बढ़ रहे लोन डिफॉल्टर
 

citymonk

Super User
Today's companies that operate in India have shares that even Indians can buy so if those companies make money then Indians benefit as well.
It was done even then also.
Jamshed ji TATA and Company I used to work 'Godrej and Boyce' had close circuit of Share holders even then 150 years back. Europeans will make Local indians as partners and share holders.

Main problem then and today also was Gujarati Traders, they operated till Red Sea ports but in form of closed Guilds. They will do cashless business even then on System called 'Hundi' or 'Hawala' and remained like that till recent times.

Now their traditional Guilds are called Parallel economy or Grey market. Since they operate without going to banks and even without Cash on Hundi system, Money they circulate is hence called Black Money.

It is this class which is most affected by new Economic policy of Narendra Modi. Problem is This age old parallel economy system used to be bigger then current Legal White economic system till 'Note Bandi' happened . Till this gap is abridged problems will remain in India.
 

Big Daddy

Super User
These parallel economies, corruption, entitlements are called market inefficiencies in Economics. Reservation is another thing that killed the Indian economy. These lower castes rather than proving themselves enjoyed the entitlements and government benefits and stacked up debt. Privatization is the only way to minimize the effects of market inefficiencies.

India has exhausted or wasted its wealth. Now, it is running a lot of foreign money. It is either FDI or Foreign Portfolio Investments (FPI). Many Indian companies are raising money from FPIs. These FPIs are mostly bonds. So it really does not matter where Indians work, the work environment salaries, etc. will not be much different. These investments are the only way to grow economy, create jobs and raise government tax revenues.

People will complain. Privatization is a threat for those who rely on reservations and government job security and freebies.

Ironically, I hated Modi because he was largely socialist. He gave generous raises in the 7th pay commission and erased farm loans. To stem the fall of Rupee and credit rating he raised taxes and implemented demonetization. His move towards Capitalism shows desperation in the Indian economy, but the indications are that India is attracting FPIs so India will grow, but those government based job safehouses will be dismantled.
 

adsatinder

explorer
No, Jaggi Vasudev, CAA protests are not what is scaring global investors away from India
The government is doing a splendid job snubbing foreign investors on its own.
Ipsita Chakravarty
9 hours ago




Isha Foundation


Popular spiritual leader Jaggi Vasudev has divined what is scaring investors away from India. No one wants to invest in a country “where buses burn”, he explained in a recent interview to NDTV on the sidelines of the World Economic Forum at Davos. He was referring to the ongoing protests against the Citizenship Amendment Act. Vasudev believes these are violent (they are mostly peaceful) and largely restricted to Delhi but are doing their bit to damage the Indian economy.
He did not mention that the government may be doing its bit to damage India’s image as an investment destination as well. Amazon founder Jeff Bezos’s recent visit is a case in point. The American tycoon landed in India, donned a Nehru jacket, dished out compliments and a promise to invest an additional $1 billion in the country. But the government was not impressed.


The prime minister refused to grant him an audience. Commerce and Industry Minister Piyush Goyal said Bezos was not “doing a great favour” to India by promising to invest more. The tycoon was most likely trying to fund losses made because of “predatory pricing” and “unfair trade practices”, Goyal said. The Competition Commission of India has even ordered an investigation on Amazon and its rival e-retailer, Flipkart, for these practices.

The government may have valid concerns about retailing giants undermining small, local businesses. But its churlishness may be explained, in part, by the critical coverage of recent developments in India by the Washington Post, owned by Bezos.

An investment paradise
Apart from pesky protesters, Vasudev claimed, India had a very positive image as an investment destination. The claim is belied by the experience of several foreign investors, grappling with massive retroactive tax demands and sudden changes in regulations.

But then, Vasudev may have been taking his cue from the government itself. Faced with growing evidence of an economic slowdown, ministers have established a unique track record of misdiagnosing the problem. Automobile sector in trouble? Blame it on millenials taking Uber and Ola taxis rather than buy cars. Onion prices soaring? Onions are unnecessary if you are a true vegetarian. Falling GDP growth? Let’s get postmodern about this: what is the GDP anyway?

So if concerns about the citizenship protests are raised at the World Economic Forum, the problem cannot be that the government passed a communal law that tarnishes India’s image as a secular democracy. That is not bad for investment at all. Instead, let’s blame the protesters out on the streets trying to protect the idea of a secular democracy.


No, Jaggi Vasudev, CAA protests are not what is scaring global investors away from India
 

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NATIONAL NEWS
‘Prepare for attack on Gita Gopinath’: Chidambaram warns after IMF cuts India’s growth figures
On Monday, the IMF had lowered India’s economic growth estimate for the 2019-’20 financial year to 4.8%.

‘Prepare for attack on Gita Gopinath’: Chidambaram warns after IMF cuts India’s growth figures


A file photo of Congress leader P Chidambaram. | P Chidambaram-The Legend/Facebook
Congress leader and former Finance Minister P Chidambaram on Tuesday warned the International Monetary Fund and its chief economist Gita Gopinath of attacks by government ministers, a day after the agency slashed India’s growth forecast.
On Monday, the IMF had lowered India’s economic growth estimate for the 2019-’20 financial year to 4.8%. In October, it had predicted an expansion of 6.1% in 2019-’20. India’s “domestic demand has slowed more sharply than expected amid stress in the non-bank financial sector and a decline in credit growth”, the IMF said on Monday. It said global growth would reach 3.3% in 2020, compared to 2.9% in 2019 – which was the slowest pace since the financial crisis a decade ago. The estimates for both years were cut by 0.1% from forecasts made in October because the slowdown in India was sharper than expected.
“IMF Chief Economist Gita Gopinath was one of the first to denounce demonetisation,” Chidambaram said in a series of tweets on Tuesday morning. “I suppose we must prepare ourselves for an attack by government ministers on the IMF and Dr Gita Gopinath.” He said the revised growth numbers were a “reality check” from the monetary fund. “Even the 4.8% is after some window dressing,” he added. “I will not be surprised if it goes even lower.”
Gopinath had also said that there was stress in non-banking financial corporations. She added that credit growth, business sentiment and the growth of rural incomes were weak.
The Indian economy grew 4.5% in the July-September 2019 quarter, the slowest in six years. The economy has been affected by weak consumption and job cuts. Last week, the government predicted 5% Gross Domestic Product growth rate for 2019-’20 – the lowest in 11 years.
Chidambaram has attacked the Modi government over the economic slowdown earlier also. After government data showed that wholesale inflation rose to 2.59% in December 2019, Chidambaram had said that if unemployment rises and incomes decline, there is danger of youth and students “exploding in anger”. He asked whether this is the “achhe din [good days]” promised by the ruling party.


Economic slowdown or not, Indian households have always hacked budgets - [Partnered]
 

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"India Slowdown Will Push Down Global Growth": IMF's Gita Gopinath To NDTV
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•Jan 20, 2020



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The slowdown in India will have an effect on the global growth story and it has pushed down the global forecast by "0.1 per cent", Gita Gopinath, the Chief Economist of the International Monetary Fund or IMF told NDTV in an exclusive interview today.
 

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Davos 2020 - Press Conference: IMF World Economic Outlook Update
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•Jan 20, 2020



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As trade tensions between the world’s largest economies affect economic confidence and momentum, which are the bright spots in the world economy that could help offset tighter financial markets conditions and uncertainty? (with Gian Maria Milesi Feretti, Deputy Director, Research Department IMF; moderated by Gerry Rice, Director of the IMF Communications Department)
The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.
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adsatinder

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IMF lowers global growth projection for 2020-’21 due to sharp slowdown in India
The monetary fund said the Indian economy is projected to grow 4.8% in 2019-'20. In October, it had predicted an expansion of 6.1%.


IMF lowers global growth projection for 2020-’21 due to sharp slowdown in India


A file photo of a trader selling onions in New Delhi. | Shailesh Andrade/Reuters

The International Monetary Fund on Monday said global growth would reach 3.3% in 2020, compared to 2.9% in 2019 – which was the slowest pace since the financial crisis a decade ago.
The estimates for both years were cut by 0.1% from forecasts made in October because the slowdown in India was sharper than expected. “A more subdued growth forecast for India accounts for the lion’s share of the downward revisions,” the monetary fund said its latest World Economic Outlook projections.

“The downward revision primarily reflects negative surprises to economic activity in a few emerging market economies, notably India, which led to a reassessment of growth prospects over the next two years,” it added. “In a few cases, this reassessment also reflects the impact of increased social unrest.”
The monetary fund said the Indian economy is estimated to grow 4.8% in 2019-’20, and said growth was projected to improve to 5.8% in 2020-’21 and 6.5% in 2021-’22. In October, it had predicted an expansion of 6.1% in 2019-’20. India’s “domestic demand has slowed more sharply than expected amid stress in the nonbank financial sector and a decline in credit growth”, the IMF said on Monday.
The Indian economy grew 4.5% in the July-September 2019 quarter, the slowest in six years. The economy has been affected by weak consumption and job cuts. Last week, the government predicted 5% Gross Domestic Product growth rate for 2019-’20 – the lowest in 11 years.

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In this update to the #WEO, we project global growth to increase modestly from 2.9% in 2019 to 3.3% in 2020 and 3.4% in 2021. Check out the latest projections. http://ow.ly/t85j50xZnR8
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The Washington-based organisation said easing of tensions between the United States and China, whose GDP growth stunted in 2019, had boosted market sentiment amid “tentative” signs that trade and manufacturing were bottoming out.

“These early signs of stabilisation could persist and eventually reinforce the link between still-resilient consumer spending and improved business spending,” the IMF said. The fund cited uncertainty over tariffs and its negative effects on business investment as the biggest factor in limiting growth.
IMF Chief Economist Gita Gopinath told NDTV there were signs of stabilisation and recovery in the global economy. She added that climate change was a major danger to global economy.
“Given the size of the Indian economy in the global GDP right now, if you have a significant downward revision for India, then it does have an impact on global growth,” Gopinath told the news channel. “So we revised global growth down for 2019 by 0.1% and the vast majority of that comes from the downgrade for India.” The Indian economy, the fifth largest in the world, is worth almost $3 trillion.
Gopinath said there was stress in non-banking financial corporations. She added that credit growth, business sentiment and the growth of rural incomes were weak. However, she added that India’s growth rate could rise to 6.5% by 2021, “supported by monetary and fiscal stimulus as well as subdued oil prices”.



IMF lowers global growth projection for 2020-’21 due to sharp slowdown in India
 

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View: Economic slowdown is just a challenge laced with promisesIf history repeats itself, India can lead in restructuring the global economic order as circular economy gathers momentum.


ET CONTRIBUTORS | Jan 23, 2020, 08.04 AM IST


BY CP GURNANI

At Davos this year, the buzz is about the economic slowdown that has gripped the world, and that of the Indian economy.

For leaders at Davos, India’s $5 trillion economy dream is a smokescreen.

Unless policy makers and industry leaders back home take corrective measures on a war footing, the concerns will only get stronger.

The whole talk of ‘circular economy’ is a constant theme at Davos this year. World leaders are striving to achieve sustainable economic growth that balances environment and climate to drive consumption, talent, innovation and business.

These conversations give me a sense of déjà vu – I am reminded of the Y2K period when India weathered the storm and emerged as a leader, which defined the decades ahead in Information Technology (IT) and the services sector.

It also gave a booster shot to the Indian economy with remittances from the huge workforce that got recruited by global IT firms. It opened up new industries, job opportunities, and transformed India into a global talent capital, especially in the knowledge and services sector. If history does repeat itself, India has a chapter to script in restructuring the global economic order, as the circular economy gathers momentum.

Even my business conversations at Davos are punctuated with concerns of geo-political disharmony — the single biggest concern that can wash out all the effort towards boosting the economy.

Global economic slowdown, volatile trade relations between China and the United States, trust deficit on critical future technologies like 5G, Data Privacy — are all derailing trade and growth and widening the digital divide. This is being compounded by the anxiety on European Union’s stability post-Brexit. It is a call for India to re-align its strategy and be relevant on the global socioeconomic map.

Further, the growing concern for environment and climate is a dominant theme with visionaries, climate change activists, analysts and strategists at the World Economic Forum. It is not only the future of this planet, but also the economy that will have to be sustainable. In both these areas, India has been at the forefront.

Whether we like the spotlight or not, world leaders are looking at India with the might of its 1.3 billion citizens, including 400 million millennials, as the flag bearers of socio-economic growth.

No global businessperson or political leader is willing to admit that the Indian economic growth story is in peril for long. They are aware of the strong fundamentals driving the economy. The sheer power of consumers, the availability of a skilled talent pool, and policy push are some of the levers that can put India back on a high-growth trajectory.

There should not be any doubt that India’s long-term growth process is steady, stable, diversified and resilient. However, India needs to reiterate that our fundamentals are strong and supported with transparent policies.

At Davos, the jury is still out on the $5 trillion economy dream — the bets are not on the ‘potential’, but India’s ability to get there well in time. As someone who does not like to sit on the fence, I say, we will get there – it is truly the ‘art of possible’, and what better place than Davos to learn and engage with the crème de la crème to forge the road to sustainable success.



View: Economic slowdown is just a challenge laced with promises
 
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