India is faltering

MUMBAI—A weakening currency is increasingly weighing on what had been seen as one of the last bright spots in emerging markets: India.

The rupee is down almost 4% this year, flirting with an all-time low against the U.S. dollar and making it one of the worst performers among the major emerging-market currencies this year.

This is inflaming concerns that India’s heavily indebted companies—many of which are still recovering from an economic slump a few years ago—could see the cost of repaying dollar-denominated obligations soar. Some companies are also seeing the cost of imports rise.

Credit-rating firms are ratcheting up downgrades as debt comes due. Almost $1 trillion of corporate debt—roughly 60% of which is in dollars—is expected to mature over the next four years in the Asia-Pacific region, according to Standard & Poor’s Ratings Services.

India’s foreign debt levels have been rising too: external borrowings—largely by companies—soared to $181 billion at the end of March last year, up from $26 billion in 2005, according to data from the ministry of finance.

Now the flows into Indian securities are reversing. Foreign institutional investors, who were net buyers of $10.6 billion of Indian stocks and bonds last year, have pulled out nearly $3 billion so far in 2016, according to regulatory data

The resulting currency weakness is raising concerns because companies have to earn many more rupees to pay off their dollar debt.

Around $6.5 billion of dollar-denominated corporate bonds are due to mature this year, the highest-ever bill for that type of bond, according to data from Dealogic.

Earlier this month, Indian power firm Jaiprakash Power Ventures Ltd. told its dollar debtholders that it needed more time to make payments on a $200 million bond. When it raised the money back in 2010, the rupee was nearly 50% stronger.

Analysts say some Indian companies are more vulnerable because they chose not to hedge their loans against currency movements.

“Now they are paying the price,” said Vidhya Sagar, an analyst at credit-ratings firm Credit Analysis & Research Ltd. “The depreciation is much higher than what people had expected.”

Reducing debt has become a priority for some firms.

Indian telecommunications company Bharti Airtel Ltd., which borrowed heavily to fund its expansion in India and Africa, reported foreign-exchange losses of 16 billion rupees ($232 million) for the nine months ended Dec. 31, a 50% increase versus the same period a year earlier.

truthbetold wrote:Remember how obama was forced to clean up Bush mess after 2008. India and modi are now forced to clean up the mess created by Sonia.
, rahul,  ysr and all their corrupt followers.

Indian people should drag these upa leaders to court for their financial actions that pushed the major banks,  public sector units and public private partnership infrastructure projects into non performing drags on Indian economy.

This same upa and its supporters are now gleefully posting articles that Indian economy is suffering. These same partisans try to push the blame modi govt instead of giving support for his valiant attempts to nudge the economy back to health. American drama is repeating itself in India.

confuzzled dude wrote:

truthbetold wrote:Remember how obama was forced to clean up Bush mess after 2008. India and modi are now forced to clean up the mess created by Sonia.
, rahul,  ysr and all their corrupt followers.

Indian people should drag these upa leaders to court for their financial actions that pushed the major banks,  public sector units and public private partnership infrastructure projects into non performing drags on Indian economy.

This same upa and its supporters are now gleefully posting articles that Indian economy is suffering. These same partisans try to push the blame modi govt instead of giving support for his valiant attempts to nudge the economy back to health. American drama is repeating itself in India.

Revisionist theory? Is this why Modiji keep saying economy is doing wonders?

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:

truthbetold wrote:Remember how obama was forced to clean up Bush mess after 2008. India and modi are now forced to clean up the mess created by Sonia.
, rahul,  ysr and all their corrupt followers.

Indian people should drag these upa leaders to court for their financial actions that pushed the major banks,  public sector units and public private partnership infrastructure projects into non performing drags on Indian economy.

This same upa and its supporters are now gleefully posting articles that Indian economy is suffering. These same partisans try to push the blame modi govt instead of giving support for his valiant attempts to nudge the economy back to health. American drama is repeating itself in India.

Revisionist theory? Is this why Modiji keep saying economy is doing wonders?

So does Obama.  Do you expect a leader to say to his people "Oh no..the economy is tanking...it is bad...bad...very bad...?"

Show me ONE leader of a country EVER saying "his country's economy is very bad.."

Show me please....(and dont just disappear).

Prime Minister Manmohan Singh on Wednesday admitted that there has been a slowdown in the last two years, but he expressed confidence in Parliament that the economy would bounce back soon.

truthbetold wrote:Cd
Turning the ship takes time. Turning it in turbulent waters takes much more effort.

After modi came to power economy improved and is making steady progress. However India needs more growth. That is where modi 's problems are. Will conditions allow him to get there before next elections? No one knows.

Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

truthbetold wrote:Cd
Turning the ship takes time. Turning it in turbulent waters takes much more effort.

After modi came to power economy improved and is making steady progress. However India needs more growth. That is where modi 's problems are. Will conditions allow him to get there before next elections? No one knows.

Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

brie wrote:

e]Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

confuzzled dude wrote:

brie wrote:

e]Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? Why did they have alliance with PDP (just like the anti-national UPA/Congress). Why are they not pushing forward with repealing Article 370? It has become fashionable to call others corrupt while ignoring their own acts.

Hellsangel wrote:

confuzzled dude wrote:

brie wrote:

e]Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? Why did they have alliance with PDP (just like the anti-national UPA/Congress). Why are they not pushing forward with repealing Article 370? It has become fashionable to call others corrupt while ignoring their own acts.

That is easily answered, Comrade. What does it take to amend the constitution in India?

confuzzled dude wrote:

brie wrote:

e]Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? 

Marathadi-Saamiyaar wrote:

Hellsangel wrote:

confuzzled dude wrote:

brie wrote:

e]Upa and corrupt politicians are on a mission to create as many hurdles as they possibly can. Idiotic bjp right wing does its share of mischief to make it more difficult.
We will have to wait and see how history unfolds.

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? Why did they have alliance with PDP (just like the anti-national UPA/Congress). Why are they not pushing forward with repealing Article 370? It has become fashionable to call others corrupt while ignoring their own acts.

That is easily answered, Comrade. What does it take to amend the constitution in India?

Please dont ask such Eminently Intelligent Questions.

He knows that with terrorist-friendly anti national Sonia-Pappu Congress controlling Rajya Sabha no act can pass through - forget about amending the constitution.

Indian voters should elect BJP in all states and give a majority for BJP in the Rajya Sabha. Then you see the dynamic "action"

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

Hellsangel wrote:

confuzzled dude wrote:

brie wrote:

very, very true. 

at least governance is not in the hands of corrupt, populist, anti-national (read my other link), inept, retarded, dynastic congress. congress continues with its disruption in parliament at the cost of the nation and economy. they will pay dearly for it. voters will not forgive them. congress has to DIE and which is what they are wishing. another national party as opposition WILL emerge.

Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? Why did they have alliance with PDP (just like the anti-national UPA/Congress). Why are they not pushing forward with repealing Article 370? It has become fashionable to call others corrupt while ignoring their own acts.

That is easily answered, Comrade. What does it take to amend the constitution in India?

Please dont ask such Eminently Intelligent Questions.

He knows that with terrorist-friendly anti national Sonia-Pappu Congress controlling Rajya Sabha no act can pass through - forget about amending the constitution.

Indian voters should elect BJP in all states and give a majority for BJP in the Rajya Sabha. Then you see the dynamic "action"

That is called checks and balances, a concept alien to you; without those, the current administration, by now, would have locked up the majority of student body, journalists, secular minded scholars, poets, artists etc., under one law or the other.

brie wrote:

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

Hellsangel wrote:

confuzzled dude wrote:
Speaking of populist programs, Why did BJP, after criticizing MGNREGA continued with it? Why did they announce packages to the states that are having elections? Why did they have alliance with PDP (just like the anti-national UPA/Congress). Why are they not pushing forward with repealing Article 370? It has become fashionable to call others corrupt while ignoring their own acts.

That is easily answered, Comrade. What does it take to amend the constitution in India?

Please dont ask such Eminently Intelligent Questions.

He knows that with terrorist-friendly anti national Sonia-Pappu Congress controlling Rajya Sabha no act can pass through - forget about amending the constitution.

Indian voters should elect BJP in all states and give a majority for BJP in the Rajya Sabha. Then you see the dynamic "action"

That is called checks and balances, a concept alien to you; without those, the current administration, by now, would have locked up the majority of student body, journalists, secular minded scholars, poets, artists etc., under one law or the other.

shove your checks and balances up your sordid ass comrade. hellsangel is bloody right and you have no humility to accept he is. you are spineless, irrational and an eliza algorithm that will simply engage you in continuous conversation without substance or ground.

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

Hellsangel wrote:
That is easily answered, Comrade. What does it take to amend the constitution in India?

Please dont ask such Eminently Intelligent Questions.

He knows that with terrorist-friendly anti national Sonia-Pappu Congress controlling Rajya Sabha no act can pass through - forget about amending the constitution.

Indian voters should elect BJP in all states and give a majority for BJP in the Rajya Sabha. Then you see the dynamic "action"

That is called checks and balances, a concept alien to you; without those, the current administration, by now, would have locked up the majority of student body, journalists, secular minded scholars, poets, artists etc., under one law or the other.

shove your checks and balances up your sordid ass comrade. hellsangel is bloody right and you have no humility to accept he is. you are spineless, irrational and an eliza algorithm that will simply engage you in continuous conversation without substance or ground.

That one line is more than enough to understand the mindset of (a section of) so called educated Indians. They don't believe in democracy and think communism/dictatorship is the solution for the current situation.

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:

truthbetold wrote:Remember how obama was forced to clean up Bush mess after 2008. India and modi are now forced to clean up the mess created by Sonia.
, rahul,  ysr and all their corrupt followers.

Indian people should drag these upa leaders to court for their financial actions that pushed the major banks,  public sector units and public private partnership infrastructure projects into non performing drags on Indian economy.

This same upa and its supporters are now gleefully posting articles that Indian economy is suffering. These same partisans try to push the blame modi govt instead of giving support for his valiant attempts to nudge the economy back to health. American drama is repeating itself in India.

Revisionist theory? Is this why Modiji keep saying economy is doing wonders?

So does Obama.  Do you expect a leader to say to his people "Oh no..the economy is tanking...it is bad...bad...very bad...?"

Show me ONE leader of a country EVER saying "his country's economy is very bad.."

Show me please....(and dont just disappear).

Prime Minister Manmohan Singh on Wednesday admitted that there has been a slowdown in the last two years, but he expressed confidence in Parliament that the economy would bounce back soon.

http://indiatoday.intoday.in/story/pm-manmohan-singh-blames-international-factors-for-weak-economic-growth/1/257704.html

The aspirational classes who drove Narendra Modi to his 2014 victory may be turning against him. The Jat agitation in Haryana that took 19 lives last week was the latest movement of once-powerful rural elites lagging in the race of aspirations. With land ownership no longer guaranteeing high income or status, they seek job and educational reservations.
Modi can assuage them by accepting their demands at a political level, letting the courts strike down their absurd claim to “backward caste” status. But their frustrations will remain. They may turn against a leader who first stoked and then failed to meet their aspirations.

The Jat agitation follows that of Patidars in Gujarat, Kapus in Andhra Pradesh, Marathas in Maharashtra, Gujjars in Rajasthan, and Ahoms in Assam. These dominant rural landowners constitute a powerful elite that long used the political system for private gains. In the name of the rural poor, governments abolished land revenue and agricultural income tax; provided free or highly subsidized electricity, canal water and fertilizers: and offered remunerative procurement prices. Yet the biggest beneficiaries were not the poor but the dominant landowning castes, and this was no accident. During a Punjab visit, I was told of one Jat farmer with 150 tubewells, paying zero electricity charges.

Some members of these castes diversified and prospered. The Patidars of Gujarat went into commerce and motels. Punjabi Jats entered transport and hotel businesses. Education was not their strong suit. But they prospered anyway, with many using political influence for lucrative deals.

The organized sector, where the prize jobs lie, accounts for only 5% of all jobs: 95% lie in informal occupations like casual labour and street hawking. India has witnessed record GDP growth in the last 25 years. But the organized sector’s size has barely risen, from 26.7 million in 1991 to 29 million today, a period when the total workforce has increased by over 200 million.

Fast economic growth has created much prosperity for salaried folk and businesses, including millions of small ones. But it has left behind millions with only school degrees, or useless college degrees. These millions are part of the aspirational class that Modi tapped into in the 2014 general election. They hoped Modi would give them jobs. That is not happening.

The pace of economic growth is much too slow to provide good jobs for even a tiny fraction of the unhappy millions. Modi is unwilling to contemplate hire-and-fire labour policies that might create millions of jobs eventually, but will initially lead to industrial strife.

Hardik Patel’s rise in Gujarat is the greatest warning signal. Coming out of nowhere, a 22-year-old with no political background has seized the imagination of Patidars so strongly that he draws audiences as large as Modi’s. His agitation for Patidar reservations paralysed the state for months. The government jailed him for sedition, but that only increased his mass appeal.

brie wrote:

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

Please dont ask such Eminently Intelligent Questions.

He knows that with terrorist-friendly anti national Sonia-Pappu Congress controlling Rajya Sabha no act can pass through - forget about amending the constitution.

Indian voters should elect BJP in all states and give a majority for BJP in the Rajya Sabha. Then you see the dynamic "action"

That is called checks and balances, a concept alien to you; without those, the current administration, by now, would have locked up the majority of student body, journalists, secular minded scholars, poets, artists etc., under one law or the other.

shove your checks and balances up your sordid ass comrade. hellsangel is bloody right and you have no humility to accept he is. you are spineless, irrational and an eliza algorithm that will simply engage you in continuous conversation without substance or ground.

That one line is more than enough to understand the mindset of (a section of) so called educated Indians. They don't believe in democracy and think communism/dictatorship is the solution for the current situation.

ANSWER ME ELIZA - 


HOW DO YOU PROPOSE NDA REPEAL ARTICLE 370 BY PASSING A BILL WHERE CONGRESS HAS NAUTCH GIRLS IN RS TO BLOCK BILLS. YOU GIVE CREDIBLE SOLUTION AND NOW.

Marathadi-Saamiyaar wrote:
Where does he say explicitly F A L T E R I N G ?  Or  T A N K I N G?

Dont apply extrapolation and/or implication when it is convenient to you. Please use them AFTER you answer our questions explicitly.

Hyper-nationalism is the new BJP card. Rashtriya Swayamsevak Sangh ideologues believe that patriotism, like religion, can have a pan-Hindu appeal and thus help to deflect attention from verifiable governance failures in a host of important sectors.

In spite of the promise of achchhe din, the economy is floundering: Industrial production has contracted; exports have fallen for 14 consecutive months, and are now down by over 13 per cent; the value of the rupee to the dollar has far surpassed the age of our Prime Minister — it is now in the vicinity of 70; agricultural distress is pervasive, with agriculture having registered a minus growth rate last year and still hovering around an unacceptable one per cent this year; every half an hour a farmer commits suicide; there have been 124 suicides by farmers this year in Maharashtra alone.

Significantly, the rich and the middle class are equally unhappy. Apart from a few businessmen and industrialists who are in with the BJP, most corporate leaders say that this government has done precious little in the vital area of ease of doing business, bank reforms and the mounting burden of Non-performing assets (NPAs), tax reform and policy initiatives.

There is widespread disillusionment because of the gap between the expectations this government aroused and the actual deliverables on the ground. The middle class finds it hard to believe that inflation has, as per statistics doled out by the government, come down. Because its purchasing power has shrunk, mehngai remains a continuing burden for the average middle class person.

In fact, whatever the wholesale price index may say, the price of vegetables was up by 13 per cent in January. Most importantly, there is a veritable famine with regard to Mr Modi’s poll promise of creating jobs. Every year millions of our youth waiting to join the work force are left in the lurch, with the much touted skill development programme far behind its announced goals.

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:
Where does he say explicitly F A L T E R I N G ?  Or  T A N K I N G?

Dont apply extrapolation and/or implication when it is convenient to you. Please use them AFTER you answer our questions explicitly.

You're nitpicking on semantics. Instead of being honest to the people elected them, the current administration lied to them by twisting facts and coming up with some formula that shows them in a good light.

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:
Where does he say explicitly F A L T E R I N G ?  Or  T A N K I N G?

Dont apply extrapolation and/or implication when it is convenient to you. Please use them AFTER you answer our questions explicitly.

You're nitpicking on semantics. Instead of being honest to the people elected them, the current administration lied to them by twisting facts and coming up with some formula that shows them in a good light.

No..You are moving the goal post.

Be precise and quote ANY leader of a country stating "his Country's economy is Tanking"  

This is not about semantics but about specifics.

The NDA government was not a big advocate of the scheme in the initial days. Prime Minister Modi in one of his addresses to Parliament had very categorically said that he would keep the Act alive just as a monument of Congress's incompetence. His government also tried to limit the scheme's coverage to a few extremely poor districts.

Then came two consecutive droughts; interspersed with a historic low in farm prices due to a slump in the global commodities market. Rural distress was a reality. It was in such circumstances that MNREGS found a new lease of life.

For 2015-16, , Finance Minister Arun Jaitley allocated Rs 34,699 crore to the scheme in the budget and later topped it up with another Rs 7,000 crore, taking the allocation for the year to Rs 41,699 crore, the highest ever for any year and higher than the previous financial year's revised estimates by around 26 per cent.

confuzzled dude wrote:

The NDA government was not a big advocate of the scheme in the initial days. Prime Minister Modi in one of his addresses to Parliament had very categorically said that he would keep the Act alive just as a monument of Congress's incompetence. His government also tried to limit the scheme's coverage to a few extremely poor districts.

Then came two consecutive droughts; interspersed with a historic low in farm prices due to a slump in the global commodities market. Rural distress was a reality. It was in such circumstances that MNREGS found a new lease of life.

For 2015-16, , Finance Minister Arun Jaitley allocated Rs 34,699 crore to the scheme in the budget and later topped it up with another Rs 7,000 crore, taking the allocation for the year to Rs 41,699 crore, the highest ever for any year and higher than the previous financial year's revised estimates by around 26 per cent.

http://www.business-standard.com/article/economy-policy/the-near-death-and-revival-of-mgnregs-116022700665_1.html

Apparently, Modiji made U turn and has turned into a complete incompetent dolt.

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:

The NDA government was not a big advocate of the scheme in the initial days. Prime Minister Modi in one of his addresses to Parliament had very categorically said that he would keep the Act alive just as a monument of Congress's incompetence. His government also tried to limit the scheme's coverage to a few extremely poor districts.

Then came two consecutive droughts; interspersed with a historic low in farm prices due to a slump in the global commodities market. Rural distress was a reality. It was in such circumstances that MNREGS found a new lease of life.

For 2015-16, , Finance Minister Arun Jaitley allocated Rs 34,699 crore to the scheme in the budget and later topped it up with another Rs 7,000 crore, taking the allocation for the year to Rs 41,699 crore, the highest ever for any year and higher than the previous financial year's revised estimates by around 26 per cent.

http://www.business-standard.com/article/economy-policy/the-near-death-and-revival-of-mgnregs-116022700665_1.html

Apparently, Modiji made U turn and has turned into a complete incompetent dolt.

Don't you think it is great of him accept MGNREGA is good and he did not dump it - just bcz it was initiated by the Cong (iSlami) criminals?

Modi's landslide election in 2014 raised hopes he would draw a line under India's socialist past, cut welfare and reduce the government's role in business.

In its first two years in power, the government splurged on roads and railways at the expense of welfare programs in the hope of creating economic stimulus.

Modi's gamble was that infrastructure investment would eventually generate dividends for the poor and the rural community, which makes up most of India's 1.3 billion population.

BACK-TO-BACK DROUGHTS

But rising rural distress after back-to-back droughts and a recent heavy election defeat in a largely agricultural state have upset that calculus.

It has also left the government open to attacks by the opposition, who use a Hindi phrase to deride Modi's administration as a "suit and boot" government that only works in the interest of the rich."He is starting all over again," an official familiar with Modi's thinking said. "The image of Modi as a supporter of big business has been damaging. This budget will change that narrative."

The budget is expected to counter criticism ahead of key elections in heartland farming states such as West Bengal this year and Uttar Pradesh next year.

confuzzled dude wrote:

Marathadi-Saamiyaar wrote:

confuzzled dude wrote:

The NDA government was not a big advocate of the scheme in the initial days. Prime Minister Modi in one of his addresses to Parliament had very categorically said that he would keep the Act alive just as a monument of Congress's incompetence. His government also tried to limit the scheme's coverage to a few extremely poor districts.

Then came two consecutive droughts; interspersed with a historic low in farm prices due to a slump in the global commodities market. Rural distress was a reality. It was in such circumstances that MNREGS found a new lease of life.

For 2015-16, , Finance Minister Arun Jaitley allocated Rs 34,699 crore to the scheme in the budget and later topped it up with another Rs 7,000 crore, taking the allocation for the year to Rs 41,699 crore, the highest ever for any year and higher than the previous financial year's revised estimates by around 26 per cent.

http://www.business-standard.com/article/economy-policy/the-near-death-and-revival-of-mgnregs-116022700665_1.html

Apparently, Modiji made U turn and has turned into a complete incompetent dolt.

Don't you think it is great of him accept MGNREGA is good and he did not dump it - just bcz it was initiated by the Cong (iSlami) criminals?

Modi's landslide election in 2014 raised hopes he would draw a line under India's socialist past, cut welfare and reduce the government's role in business.

In its first two years in power, the government splurged on roads and railways at the expense of welfare programs in the hope of creating economic stimulus.

Modi's gamble was that infrastructure investment would eventually generate dividends for the poor and the rural community, which makes up most of India's 1.3 billion population.

BACK-TO-BACK DROUGHTS

But rising rural distress after back-to-back droughts and a recent heavy election defeat in a largely agricultural state have upset that calculus.

It has also left the government open to attacks by the opposition, who use a Hindi phrase to deride Modi's administration as a "suit and boot" government that only works in the interest of the rich."He is starting all over again," an official familiar with Modi's thinking said. "The image of Modi as a supporter of big business has been damaging. This budget will change that narrative."

The budget is expected to counter criticism ahead of key elections in heartland farming states such as West Bengal this year and Uttar Pradesh next year.

http://www.reuters.com/article/us-india-budget-idUSKCN0W10WC

Another U-turn by your supreme god, how magnanimous of him.

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:
That is called checks and balances, a concept alien to you; without those, the current administration, by now, would have locked up the majority of student body, journalists, secular minded scholars, poets, artists etc., under one law or the other.

shove your checks and balances up your sordid ass comrade. hellsangel is bloody right and you have no humility to accept he is. you are spineless, irrational and an eliza algorithm that will simply engage you in continuous conversation without substance or ground.

That one line is more than enough to understand the mindset of (a section of) so called educated Indians. They don't believe in democracy and think communism/dictatorship is the solution for the current situation.

ANSWER ME ELIZA - 


HOW DO YOU PROPOSE NDA REPEAL ARTICLE 370 BY PASSING A BILL WHERE CONGRESS HAS NAUTCH GIRLS IN RS TO BLOCK BILLS. YOU GIVE CREDIBLE SOLUTION AND NOW.

See my post above. You think they didn't know this before elections?

brie wrote:

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:

brie wrote:
shove your checks and balances up your sordid ass comrade. hellsangel is bloody right and you have no humility to accept he is. you are spineless, irrational and an eliza algorithm that will simply engage you in continuous conversation without substance or ground.

That one line is more than enough to understand the mindset of (a section of) so called educated Indians. They don't believe in democracy and think communism/dictatorship is the solution for the current situation.

ANSWER ME ELIZA - 


HOW DO YOU PROPOSE NDA REPEAL ARTICLE 370 BY PASSING A BILL WHERE CONGRESS HAS NAUTCH GIRLS IN RS TO BLOCK BILLS. YOU GIVE CREDIBLE SOLUTION AND NOW.

See my post above. You think they didn't know this before elections?

it is difficult to argue with you because:

comrade's singular goal: burn down the "house." (house = any right wing party, even if it working to build the nation)
my singular goal: work for the benefit of the nation. any party that fits the bill is welcome. 

arguments with you are futile because you will never change!

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:

brie wrote:

confuzzled dude wrote:
That one line is more than enough to understand the mindset of (a section of) so called educated Indians. They don't believe in democracy and think communism/dictatorship is the solution for the current situation.

ANSWER ME ELIZA - 


HOW DO YOU PROPOSE NDA REPEAL ARTICLE 370 BY PASSING A BILL WHERE CONGRESS HAS NAUTCH GIRLS IN RS TO BLOCK BILLS. YOU GIVE CREDIBLE SOLUTION AND NOW.

See my post above. You think they didn't know this before elections?

it is difficult to argue with you because:

comrade's singular goal: burn down the "house." (house = any right wing party, even if it working to build the nation)
my singular goal: work for the benefit of the nation. any party that fits the bill is welcome. 

arguments with you are futile because you will never change!

Feeling is mutual. I made four or five points and you picked on one following a dumb idiot's lead. Which tells me that you agree with my other points. I brought up article 370 to expose sincerity of this administration or lack there of. What nation building activities are you referring to? Love jihad? Dietary habits or patriots vs anti-nationals? Which one is it? If anything this administration has been trying hard to polarize the nation