Our Finance Minister Nirmala ji came up with a number and that was 135 million Indians are out of poverty in the last 5 years. She said it in the Parliament while replying to a question asked by the opposition. Now, my question is do you guys think in the last 5 years India has made so much progress that a big number of Indians have been rooted in the middle class? My next question to you guys is, do you see changes happening around you in the last 5 years?
My answer to both my questions starts with the first one.
Yes, I have seen my housemaid asking me for more money for a few chores in the last five years. BTW, I have increased her monthly pay and I have seen her husband who is a small transport lorry driver buying a new one for his business. Her younger son is now studying in a private school and her elder one is studying engineering.
Second question and my answer.
There is a big change in infrastructure happening everywhere I go but the roads are still the same. Corruption has increased as I can see roads building today and after three months there would be digging done for pipes, cables, etc.
What do guys have to say?
Topic: Future of Indian Economy - page 2. (Read 240 times)
legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
I agree they are having a bad time, but how much the government or the ruling party is to be blamed can be decided by the timeline.
Maybe when a better party line comes in, things will turn out rapidly. We just have to wait it out.Quote
To an extent the Indian exchange were largely to be blamed on thier own atrocious fees. As of now they are offering zero fees on trading, which for me is very late.
They somewhat dug their own grave there. But they realized it when it was too late. Stock brokers have zero brokerage fees but only charge in selling.Quote
The ruling party has made the situation more difficult when they realized cryptocurrency could become a game changer for them. I won't blame them for nothing as they are know to respond late and when they do respond they make a mess.
With so much talks will international names, I was thinking crypto should have become more of the government's buzzword in coming days, but seems like it is not the case. However if things turn good with crypto in the West, the East will follow.Quote
As of other projects that they copied and implemented from the west or east they are doing good with it.
Crypto will too, dont worry.
Recently I came accross an article where they discussed how much TDS the Indian government lost because of their 1percent policy.
Indian exchanges are having a tough time running here. From the outside we see them run effectively but in the inside, I am sure they are having their own bad days and trying to recover from the mess. Government's policies are done by people who are illiterate on cryptocurrency and how it works, its benefits and hence they make stuff up in such a way that it hurts people.No use blaming the ruling part about it - if a new party comes in, they will follow the same shit their predecessors did, same has happened for years now.
We can continue to keep our fingers crossed and hope for taxation reduction and crypto-friendly laws.
I agree they are having a bad time, but how much the government or the ruling party is to be blamed can be decided by the timeline.
To an extent the Indian exchange were largely to be blamed on thier own atrocious fees. As of now they are offering zero fees on trading, which for me is very late.
The ruling party has made the situation more difficult when they realized cryptocurrency could become a game changer for them. I won't blame them for nothing as they are know to respond late and when they do respond they make a mess.
As of other projects that they copied and implemented from the west or east they are doing good with it.
legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
Recently I came accross an article where they discussed how much TDS the Indian government lost because of their 1percent policy.
Indian exchanges are having a tough time running here. From the outside we see them run effectively but in the inside, I am sure they are having their own bad days and trying to recover from the mess. Government's policies are done by people who are illiterate on cryptocurrency and how it works, its benefits and hence they make stuff up in such a way that it hurts people.No use blaming the ruling part about it - if a new party comes in, they will follow the same shit their predecessors did, same has happened for years now.
We can continue to keep our fingers crossed and hope for taxation reduction and crypto-friendly laws.
I got your point and sometimes I wonder how come these Indian exchanges are surviving? tTo be honest no users would like to pay 1% TDS on every trade and without transactions and users there would be no business but it's really sad state of affair to see crypto industry treated so badly in India and exchanges have already earned more than enough during last bull run itself for ts survival but it's the users who are left without much choice, I have even read an article about trying to regulating all the CEX operating in India and existing Indian exchanges are welcoming this moves as they are losing customers for foreign exchange.
Everything is looking good for the Indian economy except crypto contribution to the economy. The way the ruling party which I feel will again be ruling for another 5 years has been treating crypto makes me wonder how illeterates these guys can be.
Take a look at US, they have a SEC that is working as legal entity to run an extortion racket only against crypto exchanges. Have you ever thought why? Because they want to get their hands on untraceable money through the ETFs. This is why they are constantly after exchanges.
In India you cannot do such a thing as we are true democracy that doesn't have a deep state as per my knowledge. What they can do is to come up with some regulations to control the market and make good money to boost the economy. Recently I came accross an article where they discussed how much TDS the Indian government lost because of their 1percent policy.
Take a look at US, they have a SEC that is working as legal entity to run an extortion racket only against crypto exchanges. Have you ever thought why? Because they want to get their hands on untraceable money through the ETFs. This is why they are constantly after exchanges.
In India you cannot do such a thing as we are true democracy that doesn't have a deep state as per my knowledge. What they can do is to come up with some regulations to control the market and make good money to boost the economy. Recently I came accross an article where they discussed how much TDS the Indian government lost because of their 1percent policy.
legendary
Activity: 2828
Merit: 1213
Call your grandparents and tell them you love them
We are emerging economically, but at a slow rate, in other sectors we are developing apart from healthcare which has slumped down.
These things are not in our direct control, but we have to adjust ourselves to meet the economic trend, so allow it to take its own course while you plan on how to manage savings, earn and grow your wealth.
Crypto has little role to play here, the top GDP countries also have the proportionally high crypto ownership and users.
These things are not in our direct control, but we have to adjust ourselves to meet the economic trend, so allow it to take its own course while you plan on how to manage savings, earn and grow your wealth.
Crypto has little role to play here, the top GDP countries also have the proportionally high crypto ownership and users.
I always love to discuss the economic status of our country, and since we don't have one, I just created this so we can discuss anything related to our Indian economy and how we are doing and everything else.
Source
In 2023, we cracked the top 5 countries in terms of overall GDP surpassing France and UK, now we are estimated to reach in the top 2023 list by 2023 if the GDP growth remains 8–9%, and likely we will be there as per the economic expert all over the world. SO how do you see this growth especially GDP growth is 7%, and we are the only country to have such high growth rate in all the list, and it shows that we are emerging economically in the world's arena.
Source
In 2023, we cracked the top 5 countries in terms of overall GDP surpassing France and UK, now we are estimated to reach in the top 2023 list by 2023 if the GDP growth remains 8–9%, and likely we will be there as per the economic expert all over the world. SO how do you see this growth especially GDP growth is 7%, and we are the only country to have such high growth rate in all the list, and it shows that we are emerging economically in the world's arena.
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