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World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises

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World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises Empty World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises

Post by confuzzled dude Sun May 01, 2016 3:35 pm

World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises NA-CJ991_OUTLOO_9U_20160501095707

Ambit Capital, a Mumbai-based brokerage, has created an index named after Li Keqiang, China’s premier, who once famously said his country’s GDP figures were “man-made.” Using vehicle sales, airport cargo, electricity demand and imports of machines and equipment, Ambit’s index indicates that momentum in India has been flagging since 2014.

Ila Patnaik, a former adviser in the finance ministry, said that in more than 20 years of studying India’s economy, the official GDP numbers have never appeared more out of step with other metrics.

“I don’t even know how to make sense of it,” she said. “Everything has gone out the window.”
http://www.wsj.com/articles/on-close-inspection-indias-sharp-growth-picture-gets-fuzzy-1462122704

Feku's India is turning into fake India.

confuzzled dude

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World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises Empty Re: World-beating GDP figure is based on infrequent surveys, rough estimates of tiny, cash-based enterprises

Post by confuzzled dude Sun May 01, 2016 3:49 pm

In between 2004 and 2015, the public sector banks debt was already severe with Rs. 2.11 lakh crore written off. But now many are being hit hard. ICICI bank's fourth quarter net funds have plunged 76 per cent on bad loan provisions, the sharpest drop in 15 years. This was in addition to Rs 3,326 crore set aside for non-performing assets as mandated by the Reserve Bank of India. Even the telcos (mobile phone firms) have not done too well and have suffered from declining profits.

Bharti Airtel data realisation per megabyte of data consumed has plunged 15per cent on year to 22.87 paisa, while Idea has had a near 11 per cent year-on-year slide to 22.9 paisa in the fourth quarter. Idea's data revenue growth has declined to 34.2 per cent during January-March from 45.2 per cent in the previous quarter. At Airtel, this has slowed to 44.5 per cent from 50.6 per cent.
The Indian government dealing with a weaker economy, with weak exports and high poverty, has to be even more careful. Slogans will not work or quick fix economics. A carefully calibrated economic policy is seriously required with constant reviews.
http://www.dailyo.in/business/indian-economy-chinese-economy-growth-rate-welfare-schemes-employment-mgnrega/story/1/10373.html

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