Not at all. In fact these are descriptive of the inefficiencies engendered in subsidies based populism of the UPA government. Insofar as these have led to course correction in curtailing diesel subsidies, these estimates were prescriptive, because these estimates highlighted the causal relationship between high subsidies and declining growth trajectory.
What really are the reforms? Has the housing construction regulatory bill become a law?
Has the land acquisition bill been passed?
Have the so called "unauthorised" houses been authorised and provided legal water and electricity connections?
Have the shops and other retail outlets in cities like Delhi been legalised?
Has the work on hydro-electric projects, held up since years, been restarted?
Is coal mining, really on the ground and not on paper, now taking place and existing thermal plants have enogh coal?
Any body can think of a hundred real reforms, which do not cost even a rupee, which can be implemented in our beloved country.
One great reform can be that persons with criminal cases cannot contest any election.
The real reforms can be done within 7 days by merely the Govts issuing orders.
Can allowing FDI in aviation, which no body in the world wants to do, be called a reform?
Can FDI in retail, while throttling the domestic retail can be called reform?
Why not cut down the ministers foreign travel by a govt order, which will be a real reform. Why not cut down the allowances of MPs and MLAs to half- that will be a teform.
Thus there are no reforms taking place either in the society or the economy.
But the fiscal deficit keeps on galloping because of unproductive expenditure, without creating any assets. This fiscal with 51% of the years target used in 4 months, the combined fiscal deficit will go beyond TEN LAKH CRORES.
We have downgraded ourselves, the world will follow.
The soul of India lives in its villages said GANDHI
FDI retail set up is not going to harm our economy if we take the right steps in right time.
Ours is a land of villages & 70 percent of our population lives in the villages. However, they present a very unusual image of village life. Hard work, simplicity and plain thinking is a charm of life there. Villages are the main supply line of cities but we evoke an image of a mass living in struggle and difficulties. The life depicts a state of deprivation, dependence and below physical and social set up. Inspire of reforms and changes in structural setups in villages continue to suffer on various accounts.
I think Indian villages still contribute more than 50% of the national income. Most of it is secured from agriculture(thank God the rural sector is not taxed).Apart from it, the government revenue i.e: land revenue, irrigation takes, stamp fee, registration fee, etc. is earned from the villages. Thus it is the village society that contributed largely to the national income
Our leaders rightly feel the necessity of creating spot attraction for villagers in their own places. Propose to develop sideline and parallel side-incomes by developing local handicraft and industries for rural population. Social schemes for education and eradication of bad traditions shall be developed and they will be popularized in all area. Co-operative movements has to build-up in a big way to safeguard the financial and marketing requirements of the people in a big waay insted crying against FDI.
FDI in retail is really a grave to Indian Farmers & SME enterprises. It really widen the difference in the distribution of wealth which is the biggest problem in the World. It seems to be sweet initially once they get the monopoly of the sector then they would dictate terms. And its the problem in developed economies also. The money which is distributed among millions on retailers would now go to view organizational hands. Instead Government has arrange proper ware housing and marketing facilities to the farmers which would boost the economy in long term. Its not stock markets or rating which govern the economy, its even distribution and collective growth which defines economy. Dr. Manmohan Singh is a great economist I think he has to think about long term progress than short term good news which in future Graves the life of common people hence the country
Yes, all these international agency have their own parameter and yardsticks to comment about the solvency rate of particular nation. If India has failed to keep up with its robustness and strength in terms of economy, it must try to keep its house in order than blaming S & P or for that matter any other assessment agency on economy.