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India Shining ......... (lol)

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#321
Gul Khan

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I have said it many times on this forum that Indians are dishonestly fabricating economic data. They are experts in manipulation and deceit.  I bet their GDP numbers are actually sitting around 3.5 to 4%. Why is it that 500 million or more of their people still live in poverty and nothing has happened to change their lives specially if the economy was growing at 6 or 7% for the past few years?

exactly, sometimes it simply does not add up...  With all that hoopla they still have twice as much poverty as Pak,  almost 60 to 70 percent still defecate out in the open. The lack of infra, and god knows what else.  But! But when you step back and look at the bigger picture it starts making sense....  So long the Chinese juggernaut is staring in the eyes India will go from strength to strength just like the last few decades with fudged figures...  In other words 70 decades from now it will be the same ol shyt. 

 

Ah, and just to spice it up don't forget almost 70 years ago when the Brits left these Bhookas & Nangas had less poverty than Pak and China they inherited every thing what ever the Brits left behind.

 

Hare Om - and Shanti baba  :)



#322
asaracen

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http://www.atimes.co...ts-indias-modi/

China throws gauntlet at India's strong man modi

#323
ARMalik

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Here is another interesting article by the same author. So in a nut shell, mal-nourished and poor Indians are trying to compete with China by throwing money at different countries. The problem is that these beggars do not have money. They don't have money for their own people but they go around and make fake promises. For example, They promised Mongolia 1-billion dollar months back. And the silly Mongolians are still waiting for that money to show up! These Indians do not have the economy to support their fake promises. Their economic figures are fake, and several articles have appeared questioning the GDP figures provided by india.

 

India goes nuts ‘competing’ with China

 

Hopefully, the first-ever visit by Bangladesh Prime Minister Sheikh Hasina to India during the tenure of the present government will not get deferred for the third time. Foreign Secretary met Hasina in Dhaka and choreographed an April visit. But the water-sharing agreement remains elusive. It is difficult to see how or why Mamata Bannerjee would oblige PM Narendra Modi. Meanwhile, there are other sticking points too. According to reports, Dhaka is reluctant to sign a defence agreement and prefers a non-committal Memorandum of Understanding that would be symbolic and provide the photo-op, but won’t assume obligations. The proposed agreement was a key talking point for Defence Minister Manohar Parrikar when he visited Dhaka in December. Delhi held out a seductive $500 million credit line attached to the agreement. But Bangladesh army is reasoning that when India prefers high-quality stuff from Russian or western vendors, why should Bangladesh settle for the ‘Make in India’ stuff?

 

Bangladesh probably wants to cherry pick. Bangladesh is not Nepal or Myanmar. It is an ambitious country and will look for advantages. The Chinese equipment is cheap and easy to use and comes with no strings attached. The real issue could be that Bangladesh army is reluctant to become dependent on India.

 

Equally, Reuters has reported that China’s state-run Zenhua Oil recently signed a preliminary deal worth $2 billion with Chevron to buy natural gas fields in Bangladesh. These are the Jalalabad, Bibiyana and Moulavi Bazar gas fields, located in the north-eastern regions bordering Meghalaya and Assam.

 

Zenhua happens to be a unit of China’s defence industry conglomerate Norinco and has the backing of the state-backed investment vehicle China Reforms Holding Corp. Of course, Bangladesh holds the right of first refusal on assets and could block the Zenhua-Chevron deal. But will it? The timeline is June.

 

Meanwhile, in May Hasina is planning to attend the One Belt One Road (OBOR) summit that China is hosting. Bangladesh has already announced its interest in formally joining the OBOR initiative.

 

India is countering by firing all eight cylinders. The High Commissioner in Dhaka was quoted by local press as saying that “around $11 billion of investments from India in the power, LNG and port sectors in Bangladesh are in the pipeline… India now allows duty-free benefits to all Bangladeshi goods, except for cigarette and alcohol items…There is no limit to what you can get from India because we have a lot of surplus energy. We can sell you electricity any time… you can take 1,000 megawatt, 2,000 megawatt and even 10,000 megawatt…”

 

Things don’t add up. $11 billion? That’s approximately Rs. 71,500 crores. Isn’t it incredible that the budget allocated for the Navodaya Vidyalaya Samiti in 2015-16 to run 589 schools with over 2 lakh students was a mere Rs. 1905 crores? Or that the Kendriya Vidyalaya Sanghatan, which runs 1,099 schools with over 11.7 lakh children, got a budget allocation of Rs. 3190 crore? That is, a mere 7 percent of the investments India is planning to make in Bangladesh!

 

To be sure, China is driving our government nuts. The paranoia over “competition” with China (and Pakistan) has so far prompted Modi government to offer $1 billion to Mongolia, $2 billion to Afghanistan, $1 billion to Nepal, $2 billion to Bangladesh and so on. It makes no sense that Reliance Power and Adani Group cannot be persuaded to work in India’s power sector instead of the GOI providing finance to the tune of $5 billion at highly concessional terms to “incentivise” them to undertake projects in Bangladesh.

 

Bangladesh will never become a Chinese colony. Our paranoia is not only unwarranted, it is downright stupid. New thinking is needed. The accent should be on regional stability instead of chasing “influence”. At any rate, look at the level of our “influence” on Sri Lanka today. The Delhi elites hark back to Buddhism to establish affinities with Colombo, while Sri Lankan Tamils abandoned by India resort to satyagraha to get justice.

 

“Influence” comes with respect — and respect cannot be bought off the shelf. China earned respect when its phenomenal rise drew world attention. If India too can grow at double digits for a decade or two, it will become a role model and it will earn respect. Conversely, a country with 500 million people living under the poverty line doesn’t instill admiration or command respect. The current priorities of foreign policy are quite clear — facilitate a favourable external environment in which the development agenda can be advanced. Without doubt, India is a beneficiary of peace and stability in the region.

 

China and Bangladesh signed loan agreements worth $20 billion, and trade and investment deals worth $13.6 billion, on the sidelines of President Xi Jinping’s visit to Dhaka last October. Why should India try to match it? China apparently has enormous surplus capital to invest abroad. We don’t have such capacity. Period. On the other hand, our priority should be to attract Chinese investments to India. Yet, all of Chinese investments in India for the entire 2016 worked out to just over $1 billion only.
 

By M K Bhadrakumar March 2, 2017



#324
ARMalik

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And here is what I mean. These Indians 'invented' a new method of calculating 'GDP', and instead of 5.5 GDP they faked data and calculated their GDP as 7.3. I think even figure of 5.5 was a fake figure. Their economy is growing not more than 4%. And that is why majority of the poors india are still poor, and nothing has happened to their lives.

 

http://www.firstpost...rs-2603304.html

 

Why Raghuram Rajan doesn’t trust India’s GDP numbers

 

Every other economist you talk to would caution you to take India’s GDP (gross domestic product) numbers with a pinch of salt. That has been so for a year since the Narendra Modi government introduced new measure to count the GDP (based on Gross Value Added (GVA) method instead of the earlier one based on factor cost) and changed the base year of GDP calculation to 2011-12 from 2004-05. Reserve Bank of India (RBI) governor Raghuram Rajan has now joined this group, raising questions about the GDP numbers.

 

“There are problems with the way we count GDP, which is why we need to be careful sometimes just talking about growth," Rajan on Thursday said in his address at the 13th convocation at Indira Gandhi Institute of Development Research.

 

The new method of GDP instantly lifted the country’s GDP growth to 7.3 percent in fiscal year 2015 compared with 5.5 per cent under the old series. For the Modi government, the higher GDP number was euphoric to support its claims that the economy has indeed turned the corner to the high-growth trajectory, becoming world's fastest growing major economy even beating China’s growth rate (though the size of Chinese economy is five times more than that of India.)



#325
ARMalik

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And here is another one.

 

http://indianexpress...report-2898199/

 

India's GDP Growth Rate may be overstated: US Report



#326
Gul Khan

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And here is another one.

 

http://indianexpress...report-2898199/

 

India's GDP Growth Rate may be overstated: US Report

 

As I mentioned "It does not add up" -- excerpt below

 

 

India’s decent economic growth figures don’t match other high-frequency indicators like falling exports and imports, and low industrial output expansion and credit growth.



#327
H Rehman

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As I mentioned "It does not add up" -- excerpt below

 

 

India’s decent economic growth figures don’t match other high-frequency indicators like falling exports and imports, and low industrial output expansion and credit growth.

 

This is their MO; lie your way to success. It can work in boom times with the first world economies but not in a stagnant environment. You can lie and get investors to invest when money is plenty and cheap but when belts are tightening everywhere investors want to see real numbers. Chaiwala is failing to deliver beyond the initial foreign visits where he made it look like everyone from Obama to Abu Dhabi sheiks were ready to pour in 100s of billions into India. Now they have to cook the books to save their skin in the elections. What can a common stupid voter know or judge about 7% growth? They will still eat the same piece of bread and defecate in the open. However, it works wonders for the ego when newspapers, media, and Bollywood is feeding everyone a diet of first world false achievements. I have a suspicion that if numbers were scrutinized closely, India's economic indicators would compute much worse than as reported in world-book, etc. 


"There is no dignity quite so impressive, and no one independence quite so important, as living within your means."

#328
SSAAD

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The source:

 

 

ASIA'S BEST MINDS Is India Lying About Its World Beating Economy? American Enterprise Institute’s Derek Scissors says India’s desire to report faster growth trumped accuracy.
 
March 5, 2017 10:08 p.m. ET

India just announced its October-December GDP figures, supposedly showing it is still the fastest-growing major economy. You should not believe it. Every quarter there are questions about India’s GDP, with this one no exception. But there is a bigger problem: India refuses to publish the full GDP series, so that the world may not be able to trust the Indian government’s claims at all.

Economic growth should be measured by personal or household income. Instead it is measured by GDP, an accounting tool far more relevant for top-down planners than ordinary people. This is hardly India’s fault, but India has done a small bit to make the problem worse.

In January 2015 India revised recent GDP growth figures higher, among other things raising the fiscal year 2013-4 gain from 5% all the way to 6.9%. It is at this point the fastest-growing economy boasts began. Questions about the revision were raised immediately, including by current Indian government officials, because purportedly faster GDP did not fit with many other indicators. (It still does not.)

 

ON-CA583_dereks_DV_20170305214237.jpg

Derek Scissors

 

Since then, however, the new series has become widely used. While the Indian government argues that it better matches global practices, it manifestly fails to do so in an indispensable respect. The back series – the necessary base for calculations of ongoing GDP growth – has not been published more than 2 years later. Technically, we do not know India’s GDP in 2010, or anytime earlier.

The back series was first to be published December 2015, then mid-2016, and now has no apparent due date and will not be complete. The “globally accepted” new approach therefore makes it impossible to assess India’s GDP trajectory, potentially important information for a country aspiring to rapid development.

The best way to proceed in this case was to start from the beginning, applying the new method to a base year as far in the past as possible and generating new data forward from there. The obvious question is how India determined growth when earlier years could not serve as a base? The answer is unfortunately political: the government’s desire to report faster growth trumped accuracy. 

It all may sound familiar. India seemingly always has an eye on China. If China pulled a stunt like this, its “world-beating” claims would be roundly ridiculed. India initially had the benefit of the doubt because it is a multi-party democracy with a competitive press. Those are very good reasons, but not good enough. One benefit of an open society is transparency, and the Indian government is being opaque in self-interested fashion.

India had a poor reputation for statistics quality before the GDP revision. It just revised a GDP growth figure from 7.2% all the way down to 6.5% for Q415.There are other, crucial statistics practices, for example concerning rural electrification, that are clearly biased in the government’s favor. In this context, hiding past GDP looks like a continuation of previous behavior.

The central government is willing to offer such detail as revisions to the initial advanced estimates for future GDP growth. We obviously do not have measurements for the future yet, yet the government can generate a figure. What it cannot do is generate GDP for the past, when all measurements have been completed.

The GDP revision is a complex matter and the government has sound responses to some criticisms. But this part is simple: if you cannot even apply your own methodology to the past, why should anyone believe you can apply it properly to the present and future? The government is annoyed with ratings agencies for failing to see India’s progress. It should look in the mirror and properly document a basic element of that progress.

Most people from pluralist open societies want to see pluralist, open India do well. For now, however, India has the same level of economic credibility as a country like Vietnam (which publishes GDP results even before the year ends). World-beating growth? Maybe. Or maybe poorly founded quasi-propaganda.

 

 

Derek Scissors is a resident scholar at the American Enterprise Institute (AEI), where he studies Asian economic issues and trends. In particular, he focuses on the Chinese and Indian economies and US economic relations with China and India. He is author of the China Global Investment Tracker and the Chinese Investment in the US Dataset.



#329
SSAAD

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Based on above, I would take Pakistan's hard 5% growth over their "world beating" numbers any day, any time!



#330
asaracen

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Unfortunately, Pakistan has its own financial engineers, likes of Dar who reportedly ordered our growth rates to be shown better than they were. Admittedly, perhaps not as bad as Indians, who live in fantasy land of imagined greatness.

#331
yasser

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This serves Pakistan's interests quite well, let them continue to try and fool the world via false tenders for large purchases and lies about economic growth. All a ploy to convince the world that they are major players. We need to just catch up.


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#332
yasser

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India Has Surpassed Mexico To Become The Most Ignorant Nation In The World: Survey

 

http://www.huffingto...rant-nation-in/



#333
zeeshan

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Assalamaoalukum

Pakistan is on number 80 on world happiness index .....India on 122

http://m.timesofindi...ow/57737320.cms
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And as for man, when his Lord tries him and [thus] is generous to him and favors him, he says, "My Lord has honored me."

But when He tries him and restricts his provision, he says, "My Lord has humiliated me."

No! But you do not honor the orphan

And you do not encourage one another to feed the poor.

And you consume inheritance, devouring [it] altogether,

And you love wealth with immense love.

Surat Al-Fajr.(89:15-20).


#334
A Khan

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Good that he got that clarified, we cant have people thinking he assaulted him with his hands, physically touching him. He is Shiv Sena so what else can be expected. Other airlines should also ban him.

 

 

India's major airlines ban Shiv Sena MP after slipper assault on steward
 
Air India employee beaten up on plane by Ravindra Gaikwad after MP was given an economy seat instead of business class
 An Air India plane
 
Gaikwad said he hit flight attendant Shiv Kumar 25 times with his slipper on the Pune to New Delhi flight on Friday. Photograph: Kevin Frayer/AP
 
Friday 24 March 2017 02.34 GMT Last modified on Friday 24 March 2017 11.27 GMT
An Indian politician has been banned from flying on most of the country’s major carriers after admitting he used a slipper to thrash an Air India steward.
 
Ravindra Gaikwad, an MP in India’s lower house for the Hindu nationalist Shiv Sena party, claimed the attendant had insulted him on the Pune to New Delhi flight.
 
“What did he say, that I hit him with my hand? I hit him 25 times with a slipper,” an unrepentant Gaikwad told ANI news agency in video footage it posted on Twitter and aired on Indian news channels.
 
“I am booked on a 4pm flight to Pune,” he said on Friday morning. “I will take that flight. How can they not let me travel when I have a booking and I am their passenger.”
 
But the airline said later in the day that it had cancelled the MP’s return flight, local media reported. He had also been banned from flying on any member airlines of the Federation of Indian Airlines, the Press Trust of India said.
 
The dispute appears to have been started after Gaikwad bought a business class ticket but was given an economy seat for the Thursday morning flight to India’s capital.
 
After first complaining to an air steward, Gaikwad, who represents a constituency in the western state of Maharashtra, then got into a heated argument with the senior flight attendant, Shivkumar.
 
“[The steward] said ‘I will complain to [Indian prime minister Narendra] Modi’, so I hit him,” said Gaikwad. “Should I have to listen to this abuse?”
 
Shivkumar, 60, later said the MP had humiliated him in front of the crew. “He misbehaved with me, he even broke my glasses. I never expected this could happen ... God save our country if this is the culture and behaviour of our MPs.”
 
Politicians from other parties condemned Gaikwad’s actions and the video was shared widely on social media, many pointing to the footage as an example of the entitlement mentality of some Indian powerbrokers.
 
Agence France-Presse contributed to this report
 





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