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Brand new vehicles at pre-owned prices: How some dealers plan to sell BS 4 stock

hindustantimes.com

May 13, 2020 9:44 AM

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File photo used for representational purpose. (REUTERS)

Many automobile dealerships are currently grappling with sizable inventories of unsold BS 4 vehicles and some have reportedly resorted to registering them under proxy owners in order to sell these in the pre-owned segment at a later stage.

According to a report in LiveMint, many dealerships in the country have registered their unsold BS 4 vehicles under proxy owners and are now eyeing sale in the pre-owned segment. The report further quotes several dealership executives as saying that this is especially the case in two-wheelers because the stock of BS 4 vehicles in this category are far higher than in cars and commercial vehicles.

Supreme Court had set a deadline for April 1 for all BS 4 vehicles to be sold. There was some relief in March when the apex court allowed dealers to sell 10% of their BS 4 stock once the nationwide lockdown is removed but the LiveMint report claims that many dealers are unwilling to leave anything to chance.

Dealers are also well aware that the asking price for new BS 4 vehicles which have been registered as pre-owned would be far lesser. It would also involve paying road tax once again and transfer fee in some states. This would add to the cost burden of dealers, many of whom would still likely prefer this route than not selling such vehicles at all.

One of the main reasons for the push towards BS 6 fuel and compliant engines has been to bring down levels of vehicular emissions. The development of the technology to bring out BS 6-compliant engines, however, has been an expensive proposition and the question of what happens to unsold stock of BS 4 vehicles has remained a worry for several OEMs and dealerships. While discounts were offered on many such vehicles, the lockdown resulted in showrooms being shut and demand crashing to historical lows.

 

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Uber lays off 3,500 employees in a three-minute-long Zoom call, says ‘today will be your last working day’

firstpost.com

May 14, 2020 7:13 PM

Uber has laid off 3,500 of its workforce via a Zoom call that lasted for a little over three minutes. The employees were informed about the job cuts by Ruffin Chaveleau who heads the ride-hailing app’s Phoenix Center of Excellence.

According to a Daily Mail report, Chevaleau informed the staff that the rides business is down by more than half and there is not enough work for many frontline customer support employees.

“[As a result] we are eliminating 3,500 frontline customer support roles.Your role is impacted and today will be your last working day with Uber. You will remain on payroll until the date noted in your severance package,” Chevaleau said.

[https://res]

Representational image. PTI

The report added that Chaveleau's voice cracked as she informed the employees that “no one wants to be on a call like this.”

According to a report by USA Today, Uber said, “It’s never easy or uncomplicated to let employees go, and that's only been more true during this unprecedented period, where we are all working from home across dozens of cities and countries."

Chaveleau said for the foreseeable future, Uber’s business will be smaller as fewer people are taking trips. “Our size will have to be rationalised based on business needs,” she said in the call.

Last week, Uber Technologies Inc had said that it will cut about 3,700 full-time jobs. As per a report by Reuters, Uber CEO Dara Khosrowshahi said he will forgo his base salary for the remainder of the year due to COVID-19 pandemic.

Uber reported a net loss of $2.9 billion in the first quarter of this year, including a $2.1 billion write-down on the value of some of its investments.

The company's revenue was $3.5 billion, up 14 per cent from the year-ago period, but rides were down 3 per cent from the first quarter of 2019.



 

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Modi’s Rs 20 lakh crore figure may be meaningless. Will loans and liquidity be enough to save India?

scroll.in

May 15, 2020 10:03 AM

Liquidity and guarantees are much needed. But if demand isn’t revived, this could end up simply pushing state spending down the road.

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After nearly 50 days of one of the world’s most stringent lockdowns to combat Covid-19, during which the Indian economy went into freefall, Prime Minister Narendra Modi announced an economic package that would put the country back on its feet and make it self-reliant.

For Modi’s most ardent fans, the narrative logic that followed seemed to make sense: at the 20th minute of the 20th hour of the day, Modi announced that his government would offer up an economic package of Rs 20 lakh crore. It was, he declared, “20 lakh crore for 2020”.

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However, Modi offered no details of the economic package in his speech. He left it to Finance Minister Nirmala Sitharaman to confoundingly provide information through “tranches of announcements” spread over several days.

There was no explanation given for why the announcements couldn’t be made in one day, or why Sitharaman told reporters on the first day that they would have to wait until the very last announcement to get an accounting of how the government will be funding a Rs 20 lakh crore package.

After two days of announcements from the finance minister, it seems clear that the Rs 20 lakh crore number is essentially meaningless – a bit of narrative and mathematical jugglery that amounts to little.

For one, the number includes liquidity announcements already made by the independent Reserve Bank of India so. In an effort to ensure that firms have easy access to credit, the central bank has moved in a big way over the last month to provide cheap money for banks to borrow. Its operations alone account for nearly half of the Rs 20 lakh crore package that Modi referred to.

Few major economies would count central bank liquidity operations as part of their post-lockdown rebuilding packages, so including this fiture in Modi’s announcement was questionable from the start. Moreover, as business journalist Vivek Kaul has pointed out, little of this money is actually being used to shore up the economy. It has instead just been parked with the central bank. Technically, this brings down the package to Rs Rs 14.53 lakh crore .

Then there are the dodgy calculations.

Can deferring tax by a matter of months, as has happened with the discount on Tax Deducted at Source, be counted as part of a government package given that this does not actually lowering the tax rate? Can a reduction in the mandatory Provident Fund contribution rate – money that already belongs to you – be counted as government spending? If the government is offering a subsidy on interest rates for home loans, should the package calculations include only the amount the state spent on the subsidy or the figure that people are expected to spend on home loans?

After two days of announcements, the total amount of actual new spending by the government appears to be between Rs 40,000 and Rs 50,000 crore. That’s a tiny percentage of the stated Rs 20 lakh crore figure.

This might reduce the impact on the fiscal deficit (which was already in tatters before the Covid-19 crisis hit). But it also means that the government simply isn’t using the tools available to it to put money into people’s hands.

Loans, liquidity and credit guarantees are useful, as is a much belated decision to offer food rations to those who don’t have ration cards. But will they be enough to lift the Indian economy out of this crisis? Or do they simply push government spending down the road, forcing the state to pick up the pieces if a lack of demand ends up pushing individuals and firms into insolvency?

When Modi announced the Rs 20 lakh crore package, it seemed as if he was disagreeing against those in his government who have argued against “free lunches”. Instead, he gave the hope that the government would announce big measures that offer cash transfers, income support and fiscal stimulus of the sort that even hawkish economists are now calling for. Many analysts have even drawn out ways in which the government can find the funds to pay for such crucial initiatives.

But the details suggest more of the same approach to economics that drove India into the ditch before Covid-19.

Sitharaman, who is slated to make more announcements as well as explain how the government will pay for its package, may yet announce something major on the spending side to boost demand.

So far, however, it seems evident that the government has privileged narrative – 20 lakh crore at 20:20 for 2020 – over a genuine effort to lift India out of the mess.



 

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PM Modi’s economic package and dilution of labour laws: Fikr Modi to bahut hai, magar Reforms ke saath!



May 13, 2020 8:30 PM

PM Modi not only failed to address the immediate concerns of the stranded migrant workers, he also seemed to endorse the dilution of labour laws by some BJP ruled states with his silence

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The other day 16 workers of a steel manufacturing firm situated in Jalna’s Maharashtra Industrial Development Corporation (MIDC) complex were mowed down by a goods train on the rail track near Aurangabad because the poor workers, carrying just rotis and salt, were so exhausted after trudging 36 kilometers on foot in their attempt to go back home in Madhya Pradesh that they fell asleep on the tracks and failed to hear the horn and other sound of the approaching train at night.

The Railways responded to the report by declaring that they were trespassing on rail tracks and therefore instead of any compensation due to their next of kin, those left alive among them were liable to be prosecuted and fined.

Yesterday 19 people were travelling in a mini tempo truck to their village near Lucknow in Uttar Pradesh from Bhiwandi. The driver had his wife and two little children sitting beside him in front while the 19 fellow workers were packed in that little vehicle like sardines. But they had no resources left to sustain themselves back in their workplace and therefore had no choice but to return home.

Some distance further on the Mumbai Nashik highway the tempo was hit by a white Maruti Swift car. It overturned and the driver, who a TV news channel reporter had spoken to in the morning, died on the spot, leaving behind this crushed tempo, wife, two little children and 19 fellow passengers, stranded forlorn and helpless in some unknown place.

Rajan Yadav a young auto rickshaw driver from Mumbai set out on his auto rickshaw with his wife, two children and a nephew to his hometown near Lucknow, UP with the last few pennies in his pocket. After plying auto rickshaws on hire for several years he had saved some money and obtained loan to purchase a new auto rickshaw just six months back. But with lockdown and autos off road, he was left with no option but to head home. Wait for getting a train ticket prolonged each day for last 12 days, even after getting medically examined and testing corona negative and the last few rupees also vanished while the inability to pay rent for his tenement added to his misery, forcing him to set out on his auto for Lucknow. 200 kilometers from Lucknow in Khaga a truck hit his auto from behind, killing his wife and daughter on the spot and crushing his auto beyond recognition.

This is the level of desperation of the poor worker today who has no money, no food, no roof over his head and is heading back to the refuge of his home, however decrepit it might be. The Government claims to have started Shramik Express trains, of course by charging Rs 50 over the normal fare, which most of them do not have.

So they can only walk or hitch hike back or pedal all the way, or seek whatever form of transport they can afford to their homes, thousands of kilometres away somewhere in Bihar, UP, West Bengal, Assam or Jharkhand. By now so many of them have fallen to death out of fatigue and hunger because even walking barefoot or with broken slippers to Rajasthan or Madhya Pradesh under the blazing sun is torturous.

But they are doing it because first, the number of trains are inadequate to transport crores of workers away from their homes stranded in all four corners of the country. If the Government cared for them, if the huge sums collected in PMCARES fund had been spent graciously on these people who had first right to this fund, would these workers have been so desperate?

It will take another two months or more for transporting back all the workers waiting in queues to return home. And before they succeed in trudging back home, for all you know a fresh lockdown may be imposed considering the fact that the number of cases have been rising exponentially since the announcement of even this partial relaxation. Many states like Bihar are pressing the Centre for continuing this indefinitely to prevent the sudden flood of workers returning home.

Prime Minister Narendra Modi announced last night a Rs 20 lakh crore package, without of course spelling out details. He said in his address to the nation, “In the last few days we have seen the suffering of our workers, migrant labour, street vendors and daily wagers and farmers. This package will be aimed at them. It will be aimed at the honest tax payer, at our industry that makes its capital work.” But how would this announcement help the poor man walking back home on rail tracks thousands of kilometres away?

Will he survive from hunger and fatigue that long. Should he break his tiring journey and wait for the package to arrive at some distant date if at all? How will it help the auto rickshaw drivers who lost their lives and their spouses and children? If the Prime Minister was so concerned, couldn’t he announce immediate manifold increase in Shramik Express free of charge, if he were really concerned about the migrant workers, the labour class and street vendor, heading back home with no work in the big cities?

He claims be a chaiwala, risen from a poor family of tea sellers. His indifference to the plight of the poor after more than 50 days of isolation and deprivation does not betray any signs of empathy for the poor and downtrodden.

In all other countries the governments are looking after their people’s basic needs and spending Government funds to ensure at least food and shelter for those whose employment is affected by the lockdown. Here we have our granaries overflowing but our Food and Civil Supplies minister Ram Vilas Paswan, who fashioned himself once upon a time as the messiah of Dalits and the poor, has remained unmoved.

But what the workers are facing today may pale into insignificance if we view what is in store for them in the coming days—the complete trashing of labour laws which our working class earned through hard struggle over decades. The BJP ruled states led by UP, MP and Gujarat have already issued Ordinances to abolish significant labour laws. The Prime Minister spoke of reforms in the offing. A few BJP ruled states have already started implementing some of these reforms ostensibly to attract foreign investors to relocate from China to their respective states.

What are these: Factories Act, 1948 which makes the employing industry to ensure safety of the workmen in the workplace and promote health and welfare of workers has been abolished in UP, MP and Gujarat and Karnataka is on the way to implementing these too. Now if an accident takes place like the one that took place in the LG unit in Kakinada, Andhra Pradesh and workers die or get injured the employer shall in way be liable to any action or even pay compensation to such a worker.

The Contract Labour (Regulation and Abolition) Act, 1970: This law was enacted by the workers through a long struggle of the trade unions to put some obligations on the employer of unorganised worker. It addresses mainly the contractors of labour and their main employer, making it obligatory upon them first to register the labour employed by them and then to pay minimum wages, fixed by the Labour Commissioner of the district to these workers, provide basic facilities like toilets, rest rooms and canteens if 100 or more workers are employed at a site. This was enacted keeping in mind large construction sites where the main company sub contracted work of employing temporary labour to a contractor or a set of contractors. Even earlier it was mostly on paper. Now the contractor will be free not to pay even minimum wages. As for other facilities these have been largely non existent even earlier, who will raise these now?

The Shops and Establishment Act, entitles a worker even if he is working in a shop or small establishment, like say a publishing establishment, a law firm or a chartered accountant’s office to regulated working hours; payment of wages; weekly offs, leave and holiday facilities, specified terms of work. This also goes now.

Also goes with these reforms the Minimum Wages Act, 1948 and Payment of Wages Act, 1936 which obliges the employer to pay the minimum wages for the specified working hours to its workmen as decided by the local district administration from time to time. With the dilution of this law the employer is free to pay whatever he may decide with no legal restriction on him. Additionally these governments have also amended the maximum working hours from the existing eight beyond which the worker is entitled to overtime wages, at double the rate, to now 12 hours and no extra time wages.

Imagine the penury stricken starving worker approaching an employer for work and is forced to work for 12 hours at a stretch. Isn’t it the height of cruelty to our working class? But some BJP governments have already enforced it and the Prime Minister in his speech seems to have gladly endorsed it. Hail Modi and the BJP!




 

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आत्मनिर्भर अभियान: नरेंद्र मोदी ने किया 20 लाख करोड़ का ऐलान, पहले ही हो चुकी है 10 लाख की घोषणा, खर्च होंगे सिर्फ 4.2 लाख करोड़

आत्मनिर्भर अभियान: नरेंद्र मोदी ने किया 20 लाख करोड़ का ऐलान, पहले ही हो चुकी है 10 लाख की घोषणा, खर्च होंगे सिर्फ 4.2 लाख करोड़ 20 lakh crore package details: 20 लाख करोड़ के पैकेज में से करीब 10 लाख करोड़ का ऐलान पहले हो चुका है। बचते हैं केवल 10 लाख करोड़। जानकार बताते हैं कि इस साल अब 4 लाख करोड़ से ज्यादा जारी करने का प्रावधान नहीं बन रहा। मतलब बचे 10 लाख करोड़ में से इस साल पूरा नहीं दिया जा सकता।
[Image: Author] पी वैद्यनाथन अय्यर Translated By सूर्य प्रकाश नई दिल्ली | Updated: May 13, 2020 11:58 AM



आत्मनिर्भर भारत अभियान के तहत इस साल 4 लाख करोड़ ही खर्च होने की संभावना

पीएम नरेंद्र मोदी ने भले ही लॉकडाउन से प्रभावित अर्थव्यवस्था को संकट से उबारने के लिए 20 लाख करोड़ रुपये के आर्थिक पैकेज का ऐलान किया है, लेकिन वास्तव में सरकारी खजाने से फिलहाल काफी कम रकम निकलने वाली है। इसका बड़ा हिस्सा करीब 8.04 लाख करोड़ रुपये का ऐलान भारतीय रिजर्व बैंक की ओर से फरवरी, मार्च और अप्रैल के महीने में कई तरह से सिस्टम में नकदी बढ़ाने के लिए किया जा चुका है। इसके अलावा मार्च के आखिरी सप्ताह में वित्त मंत्री निर्मला सीतारमण की ओर से घोषित 1.7 लाख करोड़ रुपये के पैकेज को भी जोड़ लिया जाए तो फिर 10.26 लाख करोड़ रुपये की रकम ही बचती है। उम्मीद की जा रही है कि वित्त मंत्री की ओर से जल्दी ही इस बचे हुए पैकेज के बारे में विस्तार से जानकारी दी जाएगी।

सरकार की ओर से जारी किए गए पैकेज के बारे में जानकारी रखने वाले सूत्रों ने बताया कि इस साल पैकेज में से 4.2 लाख करोड़ रुपये से ज्यादा की रकम जारी करना संभव नहीं लगता। तीन दिन पहले ही सरकार की ओर से चालू वित्त वर्ष में बाजार से कर्ज की सीमा को बढ़ाकर 12 लाख करोड़ रुपये किया गया है, जो पहले 7.8 लाख करोड़ रुपये था। इस तरह से जानकारों का मानना है कि सरकार कर्ज में ली गई 4.2 लाख करोड़ रुपये की अतिरिक्त रकम को ही इस पैकेज के तहत खर्च करने वाली है। यह रकम ही सरकार के पास नकदी के तौर पर उपलब्ध है। इस तरह से देखें तो 4.2 लाख करोड़ रुपये की यह रकम जीडीपी के 2.1 फीसदी के बराबर होगी।

दूसरे शब्दों में कहें तो गरीबों, पलायन करने वाले मजदूरों और किसानों के लिए सरकार 4.2 लाख करोड़ रुपये के पैकेज का ही ऐलान हो सकता है। हालांकि यदि इस पैकेज को भी सही तरीके से खर्च किया जाए तो इसके काफी अच्छे परिणाम हो सकते हैं। खासतौर पर तब जब भारतीय अर्थव्यवस्था बीते 47 दिनों से पूरी तरह से ठप है। ज्यादातर ग्लोबल एजेंसियों ने फाइनेंशियल ईयर 2020-21 में भारत की अर्थव्यवस्था के 0.4 फीसदी की ग्रोथ का अनुमान लगाया है।


बैंकों को कर्ज के लिए दी जा सकती है बड़ी रकम: सूत्रों का कहना है कि गरीब तबके के लोगों के लिए चलने वाली योजनाओं के तहत कैश ट्रांसफऱ के बाद बचने वाली रकम को इस तरह से इस्तेमाल किया जाएगा कि उससे ज्यादा से ज्यादा रिटर्न मिल सके। जैसे सरकार बैंकों को यह रकम दे सकती है कि वे कंपनियों को ज्यादा से ज्यादा कर्ज दे सकें और कारोबार की शुरुआत हो सके।

सरकार नहीं झेल सकती ज्यादा बड़ा पैकेज: सरकारी अधिकारियों ने कहा कि सरकार वास्तव में बहुत बड़े आर्थिक पैकेज को अफोर्ड नहीं कर सकती। एक अधिकारी ने कहा कि यह राहत ऐसी ही है कि किसी मरीज को आईसीयू से बाहर निकाला जाए। सरकार के पास इतना बजट नहीं है कि वह खर्च को अप्रत्याशित तौर पर बढ़ा सके। यही नहीं 27 मार्च को जारी किए 1.7 लाख करोड़ रुपये के पैकेज में से भी महज 61,380 करोड़ रुपये की रकम ही ऐसी थी, जिसे गरीबों तक पहुंचाया गया है। इसमें भी 17,380 करोड़ रुपये पीएम किसान योजना के तहत ट्रांसफऱ किए गए हैं, जिसका प्रावधान पहले से ही 2020-21 के बजट में तय किया गया था।


फिर आंकड़ों का खेल: ऐलान 20 लाख करोड़ का, मिलना है केवल 4, ये है गणित
 

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PM Modi’s Atmanirbhar Bharat Abhiyan economic package: Here is the fine print
Prime Minister Narendra Modi announced the Atma-nirbhar Bharat Abhiyan (or Self-reliant India Mission) and said that in the days to come his government would unveil the details of an economic package — worth Rs 20 lakh crore or 10% of India’s GDP in 2019-20 — aimed towards achieving this mission.

Written by Udit Misra , Edited by Explained Desk | New Delhi | Updated: May 14, 2020 1:48:01 pm

PM Modi’s self-reliant India Mission economic package: Here’s the fine print



The Pune Police help migrants board private buses from the Wagheshwar Parking Yard near Wagholi on the Pune-Ahmadnagar Road to return to their homes in Marathwada and Vidharbha amid the lockdown due to the coronavirus pandemic, on May 12, 2020. (Express Photo: Arul Horizon)
On Wednesday, Prime Minister Narendra Modi said the country should view the Covid-19 crisis as an opportunity to achieve economic self-reliance. In his address to the nation, he stressed on the importance of promoting “local” products. He called it Atmanirbhar Bharat Abhiyan (or Self-reliant India Mission) and said that in the days to come, his government will be unveiling the details of an economic package towards this aim, which, after including the earlier reliefs announced by Finance Minister Nirmala Sitharaman and the RBI, would be worth Rs 20 lakh crore — or 10 per cent of GDP in FY20.

Is this a new package?
Not entirely. While the PM did not give the details, he did specify that this calculation of Rs 20 lakh crore includes what the government has already announced and the steps taken by the Reserve Bank of India (RBI). This means the total amount of additional money — that is over and above what the government would have spent even in the absence of a Covid crisis — will not be Rs 20 lakh crore. It would be substantially less.

Why?
That’s because the PM has included the actions of RBI, India’s central bank, as part of the government’s “fiscal” package, even though only the government controls the fiscal policy and not the RBI (which controls the ‘monetary’ policy). Government expenditure and RBI’s actions are neither the same nor can they be added in this manner. Nowhere in the world is this done, clarifies Prof NR Bhanumurthy of NIPFP.

For instance, when the US is said to have announced a relief package of $3 trillion (Rs 225 lakh crore), it only refers to the money that will be spent by the government — and it has nothing to do with what the Federal Reserve (US central bank) might have done.

So will the actual amount spent by the government be less than Rs 20 lakh crore? If so, by how much?
A rough estimate suggests that the RBI’s decisions have provided additional liquidity of Rs 5-6 lakh crore since the start of the Covid-19 crisis. Add this to the Rs 1.7 lakh crore of the first fiscal relief package announced by the Centre on March 26. Together, the two already account for 40 per cent of the Rs 20-lakh crore package. That leaves an effective amount of Rs 12 lakh crore.

However, if the government is including RBI’s liquidity decisions in the calculation, then the actual fresh spending by the government could be considerably lower than Rs 12 lakh crore.
That’s because RBI has been coming out with long term bond buying operations (long term repo operation or LTRO, to infuse liquidity into the banking system) worth Rs 1 lakh crore at a time.
If, for argument’s sake, RBI comes out with another LTRO of Rs 1 lakh crore, then the overall fiscal help falls by the same amount.


PM Modi’s self-reliant India Mission economic package: Here’s the fine print


Prime Minister Narendra Modi addresses the nation on May 12, 2020.


Why shouldn’t RBI’s package be included in the overall package?
That’s because direct expenditure by a government — either by way of wage subsidy or direct benefit transfer or payment of salaries or payment for construction of a new hospital etc — immediately and necessarily stimulates the economy. In other words, that money necessarily reaches the people — either as someone’s salary or someone’s purchase.
But credit easing by the RBI — that is, making more money available to the banks so that they can lend to the broader economy — is not like government expenditure. That’s because, especially in times of crisis, banks may take that money from RBI and elsewhere and, instead of lending it, park it back with the RBI.
This is exactly what is happening right now. At the last count, Indian banks had parked Rs 8.5 lakh crore with the central bank. So in terms of calculations, RBI has given a stimulus of Rs 6 lakh crore. But the reality is that it has received an even bigger amount back from the banks.


PM Modi’s Atmanirbhar Bharat Abhiyan economic package: Here is the fine print
 

adsatinder

explorer
Atamanirbhar= closed markets=stupid economy with high inflation and low quality products.
With 100% FDI
Chinese & Other Global Banks, Multinational Brands are here only.
How market is closed ?
Closed Circuit Market in this Global Economic Conditions.
Mission Impossible!
LOL !

Better watch Cinema : Mission Impossible !

Special Note:
I have No affiliation with this Film or Film Production in any way till now.
LOL !
 

Big Daddy

Super User
What else is Aatmanirbhar? Nehru introduced this concept and Indians assume this stupid idea as something great. Aatmanirbhar is the stupidest idea on the planet. Each country has certain core competencies based on which it is uniquely poised to compete in the world. What this means is that each country can produce certain things at the lowest cost and highest quality that no other country can beat.

Aatmanirbhar means do it all in one country. The idea is sold as a job creator idea, but it does not work because there is no single country in the world that can produce everything competitively. What this means is that you make a lot of products in an inefficient way which in turn translates into inflation and higher unemployment.

Just look at the USA. It manufactures planes where the part suppliers are spread across the world. That is how you remain competitive. To be a world-leading economy, you need to exploit core competencies where ever they exist in the world. The result is that you increase efficiency, free up cash, and reinvest the freed cash to create more jobs and increase shareholder's wealth. Low costs of products not only keep inflation under check but increases the demand for products.

The FDI happens in India because foreign countries are smart to exploit India's unique core competencies for their benefit. Core competencies occur for variety of reasons including workforce education and skills, cost structure, legal and tax environment, etc.

Smart countries solve difficult problems. To identify and exploit core competencies, you need massive amount of data acquisition about each country and then process that data. CIA does this job for USA. You then create policies and then develop national strategy and act. India forgoes all of the hard work and creates strategies around simple, easy to understand platitudes like "Atamanirhar." A society that never does deep thinking never prospers.
 
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adsatinder

explorer
This serves one purpose very shrewdly.
Only that matters !
Jumla !
Throw Jumlas and engage people in Hindu-Muslim, Hindustan-Pakistan and other things.
Don't ask Questions to a Ruling Government.
Blame Old Governments for current Failures.
LOL !


Atleast this is serving purpose for 10 years in India.
2 consecutive terms are achieved by this only.
How this is a Fail Idea ?
LOL !
 
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