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Contents contributed and discussions participated by anouska khambatta

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Ten myths of Indian economic policy - Rediff.com Business - 0 views

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  • Higher minimum support prices for foodgrains are good for farmers. Not so.
  • The move to a Goods and Services Tax will reduce the burden of taxation. I hope not! Or the already massive fiscal deficit will soar higher.
  • There is no role for monetary policy when inflation is driven by supply shortfalls. Not quite.
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  • Our labour laws protect labour. Quite the opposite
  • The exchange rate only matters to exporters. This is a common misperception, even among trained economists.
  • Reducing fiscal deficits hurts growth. In the present "stimulated" environment, there is much anxiety that a reduction in the current record high fiscal deficits (over 10 per cent of GDP) will hurt growth.
  • Subsidies on food, fuel and electricity mainly help the poor. Not so. The food subsidy mainly helps better-off farmers and consumers in only four or five states where the public distribution system has effective coverage.
  • Foreign capital inflows are always good for our economy. Twenty years ago, most Indians believed the opposite, that all private foreign capital inflows were bad and somehow designed to impoverish us.
  • Private provision of infrastructure can effectively substitute for government. Private public partnerships (PPPs) are the ruling mantra of the day. Since the government has failed badly in providing adequate power, roads, ports, water, sanitation and so forth, we must turn to PPPs for our deliverance.
  • The trader (or middle man) is at the root of many of our economic problems. This is one of our really hoary and hairy myths. Whenever the rate of inflation rises, governments blame rapacious traders and deploy regulations to control their stocking and other activities.
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Implementation of New Economic Policy to Indian economy in 1991 | MBA Knowledge Base - 0 views

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  • Globalization means flow capital (finance in the form of foreign direct investment (FDI) and foreign portfolio investment (FPI), technology, human resource, goods and service among countries. FDI is investment in real assets like automobile, consumer goods production, service sectors like insurance, telecommunication, air transport etc. Liberalisation means freeing the economic activities and business from unnecessary bureaucratic and other controls imposed by the governments. Privatisation or Disinvestment: Selling the government owned public sector enterprises to private industrialists and opening the government operating sectors for private investment.
  • The Major areas of  New Economic Policy 1991 are Fiscal policy reforms Monetary policy reform Pricing policy reform External policy reform Industrial policy reform Foreign investment policy reform Trade policy reform Public sector policy reform
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Indian Economic Policies - The Role - 0 views

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  • Since 1991 more "new economic policies" or reforms have been introduced.
  • Reforms include currency devaluations and making currency partially convertible, reduced quantitative restrictions on imports, reduced import duties on capital goods, decreases in subsidies, liberalized interest rates, abolition of licenses for most industries, the sale of shares in selected public enterprises, and tax reforms.
  • faster growth rate of the economy
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  • these changes would create more problems than they solved
    • anouska khambatta
      anouska khambatta on 12 Nov 10
       
      This is important as it states that when it changed more problems were to be created.
  • The pace of liberalization increased after 1991
  • In early 1995, official charges of serving adulterated products were made against a KFC outlet in Bangalore, and Pepsi-Cola products were smashed and advertisements defaced in New Delhi. The most serious backlash occurred in Maharashtra in August 1995 when the Bharatiya Janata Party (BJP--Indian People's Party)-led state government halted construction of a US$2.8 million 2,015-megawatt gas-fired electric-power plant being built near Bombay (Mumbai in the Marathi language) by another United States company, Enron Corporation.
    • anouska khambatta
      anouska khambatta on 12 Nov 10
       
      This is a negative point of view. It shows how things were stopped due to policies.
  • Early Policy Developments India
    • anouska khambatta
      anouska khambatta on 12 Nov 10
       
      The first few paragrapghs are about the early years in which the economic policy was being developed.
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Policy Watch - Existing and Proposed Economic Policy of India | Economy Watch - 0 views

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  • After the adoption of the new economic policy in India, the country has reviewed its policies and made it more friendly in almost all the sectors.
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Comprehensive information on India Economic Policy and its chief objectives - 1 views

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  • Issues concerning economic policy, impact of the reforms on poverty, sectoral issues relating to agriculture, industry and infrastructure.
  • has cast off its protectionism image and became more liberal.
  • Agriculture. Industry. Licensing policy. Monetary policy. Fiscal policy. Commercial policy. Pricing policy.
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  • The India Economic Policy is adopted so far has given rich dividends.
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Highlight Economic Policies - 0 views

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  • growing importance of Venture Capital as one of the sources of finance for Indian industry
  • has announced a policy governing the establishment of domestic Venture Capital Funds/Companies.
  • GUIDELINES FOR OVERSEAS VENTURE CAPITAL INVESTMENT IN INDIA
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The chief tenets and composition of the Indian Economic Policy - 0 views

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  • the government of India initiates various actions including preparing budget, setting interest rates
  • ational ownership, labor market, and several other economic areas where government intervention is required
  • internal factors like political beliefs and policies of the parties etc. that play pivotal roles in determining the economic policy of India
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  • influenced by various international institutions like the World Bank and the International Monetary Fund
  • Five-Year Plans came into existence,
  • Milton Friedman later criticized their policy which concentrates on capital and technology-intensive heavy industry as well as subsidizing manual, low-skill cottage industry at the same time. According to Friedman, it would waste capital and labor and would slow down the growth of small manufacturers.
  • easing restrictions on capacity expansion, reduced corporate taxes and removed price controls
  • These led to enhancement in growth rate, which in turn led to high fiscal deficits and aggravating current account.
  • compelled India to face a major balance-of-payments crisis.
  • Foreign direct investments in a number of sectors started pouring in.
  • domestic and foreign investment import and export trade controls tax structure public and financial activities
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Economy of India - Wikipedia, the free encyclopedia - 1 views

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  • The economy of India is the eleventh largest economy in the world
  • India was under social democratic-based policies from 1947 to 1991.
  • Since 1991, continuing economic liberalisation has moved the country toward a market-based economy.
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  • A revival of economic reforms and better economic policy in first decade of the 21st century accelerated India's economic growth rate
  • By 2008, India had established itself as the world's second-fastest growing major economy.
  • However, the year 2009 saw a significant slowdown in India's GDP growth rate to 6.8%[19] as well as the return of a large projected fiscal deficit of 6.8% of GDP which would be among the highest in the world.
  • Goldman Sachs has outlined 10 things that it needs to do in order to achieve its potential and grow 40 times by 2050
  • Improve Governance Raise Educational Achievement Increase Quality and Quantity of Universities Control Inflation Introduce a Credible Fiscal Policy Liberalize Financial Markets Increase Trade with Neighbours Increase Agricultural Productivity Improve Infrastructure Improve Environmental Quality.
  • However the subsequent government policy of fabian socialism hampered the benefits of the economy leading to high fiscal deficits and a worsening current account.
  • ince 1990 India has a free-market economy and emerged as one of the fastest-growing economies in the developing world; during this period, the economy has grown constantly, but with a few major setbacks. This has been accompanied by increases in life expectancy, literacy rates and food security.
  • India is often seen by most economists as a rising economic superpower and is believed to play a major role in the global economy in the 21st century.
  • Policy tended towards protectionism
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India Economic Policy | Economy Watch - 1 views

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  • relaxing its money supply activities
  • would be able to bear fruit provided other advanced economies of world are able to recover from aftereffects of global financial meltdown.
  • adopted an economic policy at India of borrowing.
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  • significant bearing on India’s economic policy
  • only led to increasing of financial deficit.
  • As per his observations, prime lending rates being charged by banks belonging to public sector were a bit higher than what is desirable in present circumstances.
  • economy would be moving towards a single goods and service tax by doing away with differences between rates of service taxes
  • INR 6,600 crores and for excise duties it would be INR 8,500 crores.
  • According to this India economic policy a significant amount of money would be lost as a result of these tax benefits – losses are expected to amount to INR 29,000 crores. Maximum amount of losses to tune of INR 14,000 crores
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