India is changing paving the way for a new India, The Country which has a billion plus population are beginning to change their mindset as they feel suffocated with the present set up. Indian Affairs, Network 7 Media Group’s news magazine in an extensive with the tier 1 & tier 2 cities & the rising Indian middle class spotted their apathy, frustration & disappointment with the present administration. Over the last 7 years, India is discredited & lost its balance. Indian Administrators are clueless what they should do as they are too busy in petty politics & daily TV opera which bring out startling stories of how our rulers are looting the country. India is governed by some of the finest laws with widespread ramifications, but as india is evolving, the founding fathers of the constitution perhaps did not realize that Indian Rulers can be so arrogant & greedy that even laws & scriptures cant make any difference. Indian Affairs, Asia’s biggest news title has been relentlessly pursuing the need for a change in approach as the old order is beginning to crumple & political compulsions have dominated economic growth. We have no options, but to leave with its reality. Over the last few years, Indian Affairs & Breakfastnews has been at the centre of debating the uneasy questions & posing uncomfortable questions as Network 7 Media Group refuses to compromise on journalism ethics & principles of propriety. Indian Affairs has exposed the real villions of Indian polity who try to subvert the system for their personal gains. Our attempt to bring truth & credibility has given discomfort to many in the corridors of power & bunch of jokers at the helm of administration, but our struggle for bringing the truth remain the principle mantra, how much opposition we face. Indian Affairs is restless & in an attempt to cleanse the system through journalism has also discovered that India today is not the same as it was a decade a back. International Community today is looking at India with a much bigger anticipation as the past few years have brought disrepute following scams after scams paralyzing the policy reforms. Domestic turbulence & apathy towards the system have brought people to the streets as they protest that their rights are snatched away. India today is a new india. With these background in view, Indian Affairs, Network 7 Media Group’s media outfit is organizing the high profile & high voltage debate,
Indian Affairs feel that India must balance competing interests such as the rights of the poor and the need for land to set up industries to help boost its economy and what the government needs to do to boost economic expansion and keep its widening budget and current-account deficits in. Growth has been slowing, mainly because investments have slowed. We have been arguing for a while that the main reasons for slowing growth are structural in nature, more than lack of financing. Things like getting projects approved–and cleared and implemented–really seem to have slowed down. That is the top priority, to find a way to balance competing interests: Environmental interests against growth; land rights, especially among the poor. The Truth is India needs to grow faster than this. The current rate is too low. Indian Affairs forecast that India will make 5.9% expansion in 2013 and 6.4% in 2014. We do envisage some recovery in this fiscal year and a gradual pickup over the next year or two. If they are able to address the structural challenges, the economy should start to gradually turn around. India we think is not necessarily under taxed but we think is under resourced. If you compare India with other Asian countries, it doesn’t have enough general government revenue. And that is a source of vulnerability. It won’t surprise that the concern about inflation, again from a current-account standpoint and from investment-sentiment standpoint, is real. We think it’s important for the RBI to continue to keep a close eye on inflation. consumer price inflation is up over 10%.Most people seem to think that the slowdown in investments is driven more due to structural issues than by tight financing conditions. Marginal movements in interest rates aren’t going to boost investments so much as addressing the broader structural regime.The government could use the cabinet committee on investments to get investme
Indian Affairs feel that, when it comes to food security, India fares poorly in global rankings. According new food security index that looks at food affordability, availability as well as its quality and safety, India ranked 66th out of 105 countries. According to the Global Food Security Index, released earlier this week by the Economist Intelligence Unit, the magazine’s research group, India scored especially low when it came to the affordability of food. India has a terrible record when it comes to malnourishment, especially with children. Is the solution to greater food security growing more food grains?, that is a bigger question mark. The Congress party’s ambitious food security law, and main campaigning plank, guarantees cheap food grains to about 70% of the Indian population, or roughly 900 million people, but was put on hold once again last month after more than a year going through Parliament.The Land Acquisition, Rehabilitation and Resettlement Bill: The bill that seeks to address the mechanism of buying land for public purposes, including compensation levels for displaced farmers. It is pending approval in the Lok Sabha, India’s lower house of Parliament, where it was introduced two years ago.Lokpal Bill: The bill, which proposes an independent federal ombudsman and parallel anti-graft agencies at state level, was passed in the lower house in December 2011. The recommendations still need approval from the federal cabinet before parliament can even start discussing them.Tough Rape Law: This was considered after huge protests following the fatal gang rape of a young woman on a moving bus in Delhi at the end of last year.The bill that aims to strengthen the country’s law on sexual assaults against women with stringent punishments for offences like rape, stalking, voyeurism and acid attacks, was cleared by Parliament in March. The law, however has come under scrutiny by rights groups. They say it opens the way to more abuse and doesn’t address marital rape, or rape against men.
One overriding fact will define the coming decade for India: the high probability that it will continue to achieve economic growth at an annual rate of 9 per cent, give or take a percentage point. That will compare with an average of about 7.5 per cent for the first decade of the new century, and about 6 per cent in the last decade of the 20th.In grand, macro-economic terms, that does not sound like a seminal shift, for GDP will go up from Rs 60 lakh crore today (about $1.3 trillion) to 2.2 times that figure a decade from now. India’s GDP in 2020, at just under $3 trillion at today’s prices and exchange rates, would be less than two-thirds of what China has already achieved in 2009: $4.6 trillion. India and China, with a combined population of 3 billion people, will reclaim their positions as economic giants in this century. Napoleon once said, "Let China sleep, for when China wakes up, she will shake the world." China has woken up. It is investing nearly half its GDP--that's simply unprecedented. No other economy, at no other time in history, has invested capital on that scale. To call this "hyper"-investment is like comparing the Sun's luminosity to a streetlamp
At the peak of its economic miracle, Japan was investing only 30% plus of its GDP--but China is doing 50%! Over 200 years of economic experience tells us that hyper-debt-fuelled-investment creates a bubble and ends in a dreadful collapse. But China has consistently defied all such prophesies of doom. Frankly, it may not be too bizarre to believe that China could be scripting a new economic logic. Traditional theory says that investment should be "sustainable," that is, it should be "matched" by rising consumption. But what if you pump so much capital into your economy--similar to putting extra fuel into a rocket--that you "escape" the gravitational pull of low thresholds? Especially if the bulk of your capital is spent on infrastructure (roads, railways, schools, irrigation canals, dams, hospitals, ports), as against factories which produce toys and televisions? This could be the Chinese masterstroke, the single discontinuity that could defeat 200 years of economic wisdom. Ultra-big manufacturing factories may create waste and over-capacity, but mammoth infrastructure could trigger higher productivity and the ability to create wealth. So it may be a fatal mistake to look at China's investment spree in a single lump of factories-plus-infrastructure. Huge capital spending on life-enhancing social assets, like schools, research labs and hospitals, may actually empower people. By rapidly educating its workforce, by brilliantly executing immensely large projects, by importing expertise and dollars in a shrinking world, China could be creating a "shower of wealth and productivity" such that consumption eventually "trickles through" into the bubble.
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