2015 10:30 am Talking about SRK-Salman.
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They shared their experience of shooting for the film and how they enjoyed working on it.the son of Frank Samuelson,left to their own devices, etc. He argues that these ‘third-generation reforms’ will take some time to bear fruit but once they do a "robust economy" will be created where growth will remain sustainable In his words "These structural reforms are not just desirable they are necessary to create a ‘New India’ and provide good jobs for our billion-strong workforce The new economy that is being created will be much more transparent globally cost-competitive and innovation driven Importantly the new economy will also be much more equitable thereby enabling all Indians to lead better lives" In so far as the need for structural reforms is concerned the civil aviation minister has a compelling case Indian economy needed to be rescued from the quagmire of corruption and populism of UPA years and no action that can qualify as ‘reform’ is without costs It is also specious to argue that Modi has "destroyed the economy through disruptive steps" and simultaneously claim that the prime minister is ‘all jumla’ and no action Annat Jain aptly points out in Hindustan Times that "structural reform is thankless: costs are borne upfront and rewards come later… For years it was the very absence of these structural reforms that armchair foxes have bemoaned Now that the reforms are occurring the foxes are coming out of the forest and unwilling to pay the price claim that these are ill-timed ill-conceived or ill-executed" The dispute then isn’t that structural reforms are unnecessary It is whether the economy is strong enough to withstand the collateral damage The trouble with Sinha junior’s argument is that instead of addressing and refuting his father’s core contention — that economy is in dire straits — he paints a picture of future possibilities Promise of a rosy future cannot mitigate the crisis at hand So how deep is the crisis According to Sinha senior the former finance minister in Atal Bihari Vajpayee regime the Indian economy is in doldrums He makes a series of observation in his much-quoted piece published in TheIndian Express: "Private investment has shrunk as never before in two decades industrial production has all but collapsed agriculture is in distress construction industry… is in the doldrums the rest of the service sector is also in the slow lane exports have dwindled sector after sector of the economy is in distress" How sound are Yashwant’s claims To begin let us look at export figures Yashwant claims that "exports have dwindled" He didn’t cite any data so it is unclear which figure he based his argument on The reality is that exports have risen for 12 straight months and exporters have posted a growth of 1029 percent to $2381 billion during August 2017 on a year-on-year basis according to data from ministry of commerce and industry A report published in Hindustan Times quoting a ministry statement states: "Exports during August 2017 have shown growth of 1029 percent in dollar terms valued at $2381883 million as compared to $2159709 million during August 2016” backed by increase in exports of major commodity groups such as "engineering goods (1953 percent) petroleum products (3656 percent) organic and inorganic chemicals (3241 percent) drugs and pharmaceuticals (421 percent) and RMG of all textiles (056 percent)" Yashwantsays that "industrial production has all but collapsed" but a turnaround is already visible in some indices Automobile sales for instance have shot up Vehicle sales have posted double digit growth in passenger commercial and two-wheeler categories Four of India’s top six automakers reports The Financial Express have registered "massive increase in domestic sales in September" and this trend is expected to continue Maruti India’s largest passenger car manufacturer reported an increase of 103 percent in its domestic sales last month compared to the same period last year top passenger car exporter Hyundai Motor India reported a growth of 174 percent Tata Motors recorded sales of 17286 units — a growth of 18 percent over September 2016 — and Honda Cars posted a growth of 21 percent according to the newspaper Citing data from Society of Indian Automobile Manufacturers (SIAM) news agency PTI reports that total two-wheeler sales in August grew 1469 percent to 1891062 units compared to 1648871 units in the same period last year It quotes SIAM DG Vishnu Mathur as saying: "The growth in the two-wheeler segment is a reflection of the rural market coming back to normalcy with the impact of demonetisation wearing off" There has been a 1563 percent rise in domestic air passenger traffic in August over the same period last year up from 1243 percent growth registered the month previous Overall the picture isn’t quite compatible with the image of Armageddon that Sinha and some critics have painted According to Sinha "for quarter after quarter the growth rate of the economy has been declining until it reached the low of 57 percent in the first quarter of the current fiscal the lowest in three years The spokespersons of the government say that demonetisation is not responsible for this deceleration They are right The deceleration had started much earlier Demonetisation only added fuel to fire" There is some truth in his statement that demonetisation halted the economy and subjected it to a shock therapy As this writer has argued previously Modi prioritised transparency and formalisation over pursuit of growth This was a conscious decision arising out of a conviction that the electorate wants him to clean up the act instead of maintaining status quo He may well be wrong in his choice and mistaken in his conviction (and consequently will pay a political price sooner or later) but at least Modi acted where most prefer to sit on fence The point about "quarter after quarter" of declining growth is an exaggeration In the globally interconnected markets to assume that India is insured from global upturns and downturns is impractical VK Vijayakumar Chief Investment Strategist Geojit Financial Services writes in Business Standard "The present downturn in the Indian economy has come at a time when global growth is recovering If global growth continues to improve and the domestic growth continues to falter that would be a serious concern" India’s GDP witnessed a growth for seven straight quarters since Modi came into power and has declined in the last five quarters with the sharpest downturn coinciding with demonetisation Allowing for the downturn introduced by currency ban the decline in growth matches the trend in emerging markets China has slowed down and so has Indonesia and as Omkar Goswami points out in The Economic Times it may have something to do with the "disappearance of oil bonanza" The alarmism being peddled from some quarters seems to have a political motive which Modi critics have happily bought into In matters of economy however stitching of narratives is trickier because these are subjected to data verification India’s macroeconomic stability is sound and seems strong enough to resist demonetisation and shoddy GST aftershocks Sajjid Z Chinoy chief India economist at JP Morgan had expanded in July how India’s macroeconomic stability sits at odds with near-term slowdown The writer gave high marks to the Modi government for its structural reforms in the fields of Aadhaar bankruptcy law GST and codification of the new monetary policy framework and had noted how India has dramatically become a "safe haven among emerging markets" by successfully solving a mini balance of payments crisis in 2013 He also praised the government for "dramatic reduction in inflation" and wrote in his piece for Livemint that these reforms will "help facilitate the much-needed ‘creative destruction’ of capital and the new monetary framework will ensure that inflation never again gets entrenched at 10 percent These are not small gains This then is the first narrative governing the Indian economy: heightened macroeconomic stability combined with stronger medium-term growth prospects" Chinoy also sounded a note of caution however on the ‘twin balance sheet problem’ that could create substantial "headwinds" for the economy The truth about economy as always lies somewhere in the middle Neither has it "crash landed" "tipped over the precipice" nor is it soaring Modi government has already ensured macroeconomic stability through some structural changes now is the time to work hard and maintain fiscal discipline which is already under pressure from reckless waiving of farm loans As for Yashwant’s prediction let me leave the reader with a prediction from Swaminathan Aiyar in The Times of India where he urges finance minister Arun Jaitley not to deviate from the path of prudence "The economy has been hit by short-term shocks imposed by demonetisation and the launch of GST But the shocks will gradually fade away resulting in a bounce-back of growth in 2018 There is no evidence of a coming hard landing as predicted by Yashwant Sinha" Narrative peddlers should take a much-needed break Mumbai: The BJP unit in Maharashtra is prepared for mid-term polls Chief Minister Devendra Fadnavis said in Mumbai on Wednesday Fadnavis made the remarks in reference to reports speculating mid-term polls in Maharashtra amid farmers’ stir seeking loan waiver in view of the agrarian crisis File image of Devendra Fadnavis PTI The Fadnavis dispensation had announced the long-standing demand of the waiver last Sunday "Some people said (when the agitation was on) that they will bring the government down will withdraw support I said we are ready for mid-term polls "If someone wants to impel us to go for mid-term polls I am confident we will be able to form the government again" Fadnavis told reporters here without naming any party Buoyed by the BJP’s success in Maharashtra local governing bodies’ polls held in the recent past Fadnavis exuded confidence that people of the state were with the saffron party notwithstanding various agitations against the state "This success was unprecedented and no other party achieved such success The Congress-NCP couldn’t attend the success even during their hay days So people believe in the government" he said Talking to a Marathi news channel recently Shiv Sena MP Sanjay Raut had suggested that the Shiv Sena would withdraw support to the government if the loan waiver was not announced Ahmedabad:Patidar leader Hardik Patel on Friday said that over 3500 VVPAT machines had "failed" in the first level test of the Election Commission (EC) and alleged that the ruling BJP would indulge in "fraud" in the upcoming Gujarat elections File image of Patidar leader Hardik Patel "Over 3550 VVPAT machines failed in the first level test of the Election Commission and I can say with confidence that the BJP will indulge in fraud in Gujarat elections" Patel said in a tweet ?? ?? who stays in the same neighbourhood, We have, For all the latest Delhi News, I used to watch the Indian hockey team play. Now instead of having milk to drink and ghee to eat.
2015 10:30 am Talking about SRK-Salman.