False propaganda about slow down of Indian economy
Sometime back , there was a huge campaign by the so called intellectuals and media about intolerance in Modi’s government. The campaign stopped after some state elections.
Now, another campaign has started about slowing down of Indian economy, as polls in Gujarat and a few other states are in the offing. Now, in addition to the section of media and opposition parties and some pledged critics, some BJP people like Subramaniam Swamy, Gurumurthy , Yashwant Sinha and a few others have joined critics by advancing their comments against the economic policy of the Modi government. They are airing their views in public and not in private in party forums. Thus , they are encouraging the media and opposition parties in continuing anti Modi campaign.. Further, some industrial groups have also joined who have been upset by several measures like binami law, derecognition of shell companies and bankruptcy law.
The critics say that demonetization and GST and it’s poor implementation have caused slow down in Indian economy. When these regulations were brought, the corrupt parallel economy was forced to slow down or halt resulting in drop in activities like real estate, some trade transactions etc., which were run and managed until then with black money. This brought down the economic activity to some extent, which is inevitable when such strong measures are taken to wipe out corruption and bring transparency.
The fall in GDP just for one quarter to 5.6% is being pointed out as the sign of slow down in economy. Judgements of GDP performance cannot be made on the basis of results in a quarter but has to be judged over a longer period.
In the month of August,2017, steel production in India was 8.5 million tonne which was 4.1% more than the production in August,2016. Production of steel is a barometer of progress and shows positive changes in the economy. Production of so many other commodities are increasing showing the rapid return of normalcy and growth trend. The critics ignore this as such figures are inconvenient for them.
It is sad that public opinion in the country is being built with motivated campaign not only by media and opposition leaders but also by some BJP men who, perhaps, have not been given any position by Modi government.
The very fact that these disgruntled BJP men talk in public criticizing the BJP government only show that their motives could be suspect.
Obviously, the opponents for P M is not only outside BJP but also some within the party. If they do not concur with Modi’s policy why not they quit and join the opposition ranks.
N.S.Venkataraman more
Now, another campaign has started about slowing down of Indian economy, as polls in Gujarat and a few other states are in the offing. Now, in addition to the section of media and opposition parties and some pledged critics, some BJP people like Subramaniam Swamy, Gurumurthy , Yashwant Sinha and a few others have joined critics by advancing their comments against the economic policy of the Modi government. They are airing their views in public and not in private in party forums. Thus , they are encouraging the media and opposition parties in continuing anti Modi campaign.. Further, some industrial groups have also joined who have been upset by several measures like binami law, derecognition of shell companies and bankruptcy law.
The critics say that demonetization and GST and it’s poor implementation have caused slow down in Indian economy. When these regulations were brought, the corrupt parallel economy was forced to slow down or halt resulting in drop in activities like real estate, some trade transactions etc., which were run and managed until then with black money. This brought down the economic activity to some extent, which is inevitable when such strong measures are taken to wipe out corruption and bring transparency.
The fall in GDP just for one quarter to 5.6% is being pointed out as the sign of slow down in economy. Judgements of GDP performance cannot be made on the basis of results in a quarter but has to be judged over a longer period.
In the month of August,2017, steel production in India was 8.5 million tonne which was 4.1% more than the production in August,2016. Production of steel is a barometer of progress and shows positive changes in the economy. Production of so many other commodities are increasing showing the rapid return of normalcy and growth trend. The critics ignore this as such figures are inconvenient for them.
It is sad that public opinion in the country is being built with motivated campaign not only by media and opposition leaders but also by some BJP men who, perhaps, have not been given any position by Modi government.
The very fact that these disgruntled BJP men talk in public criticizing the BJP government only show that their motives could be suspect.
Obviously, the opponents for P M is not only outside BJP but also some within the party. If they do not concur with Modi’s policy why not they quit and join the opposition ranks.
N.S.Venkataraman more
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Explained very well by Shri N S Venkataraman. GOI should not relent. Efforts for tracking Black money and Benami assets should continue and follow up action should be by Spl. Courts. These cases should be heard on a daily basis. more
Sep 28
Very true Mr. N. S. Yaswant Sinha was eyeing FM portfolio which he didnot get and is the main reason for his out burst.Opposition leaders like corrut PC and other congressi leaders are waiting to nail Modi Govt. For which BJP leaders like YS Subramaniam Swami and Varun Gandhi on rohingya's issue giving lead to opposition and anti Modi groups. India needed some very harsh steps to curb black money, hordings and free flow of unaccounted money. We have to bear this hardship for sometime. more
Sep 28
This is absolutely correct. Disruption of Black Money in-flows is bound to affect certain sections of our economy, which were funded primarily by Black money. Non-payment of Taxes and allowing such measures where income earners can evade paying taxes is something of the past now. Some stupid people talk so much bull-shit about GST etc, that it has caused prices to rise of certain commodities. To such people I only say ----- How many of these items like Refrigerators and Air-Conditioners have you purchased since GST was implemented? It will surely take some time, hopefully short, for production to pick up. This has to happen as long as there is demand. Of course, there is always the gimmicks played by unscrupulous business agencies --- Let eh prices increase and let the market starve of essential goods. Indian businesses always look for opportunities of making MORE money without doing anything. In addition Indian public wants everything to be available for them, maybe free from the government, without paying for it. Now it is only a matter of time that the economy sets itself on the right path. It is, however, time that the thieves in the Indian economy, like the top leaders of the Congress party and other opposition parties are put in jail, including maybe some from the ruling party, who deserve nothing better. SG and RG have to be first in the list, they ahve made enough money from the poor public of the country and stashed it abroad. more
Sep 28
I am not totally satisfied with your comments. It seems you are not aware with ground reality of the market. Must visit the market and find how aam businessmen is suffering from their daily business after notebandi and unprepared and hurriedly implementation of GST. Prices of common commodity are skyrocketing but people are advocating in favour of govt. Actually, people are not habitual or ready to listen the facts if it is against the Modi Government. more
Sep 28
