Modi gears up for his mission Making in and the deportation, exclusion, excommunication, displacement drive has to get momentum!
Palash Biswas
Why I am concerned with environment?Because environment is targeted most in the neoliberal era.The Billionaire Millionaire class has every luxury affordable and we may no afford the basic needs.It is the side effect of the growth story.The economy is destryed and we may not understand just because of the bull run injected by FDI and FII devastating production system as well as business and industry.It is all about the promoter builder raj,all about free flow of unabated ,decontroled,deregulated foreign capital,just the printed papers we recognize as dolars which is breaking down with US oil and war economy.
It is the story of the destruction of nature and nature associated agrarian rural India subjected to continuous holocaust just because of the continuity of Manusmriti economics which is branded as free market economy.
The master blaster as well as honourable member of the parliament has inaugurated a swimming centre in remote South 24 pargana district of West Bengal which is adjacent to Sunderbans,the biggest Mangrove forest in the world.It has to be understood the reverainezone consissting of islands has the demography which is most poorand may not afford swimming pool.It is the corporate encroachment in the Mangrove.
This is what about the icons the free market produced.The media sells the icons to the audience and has not any space for those who are real icons contributing unlimited in Indian life in many spheres of life.
Had not there been beautiful ladies before and after the iconic miss world and miss world we got? Free market needed them to sell the consumer items of which we had never been habitual.
Amidst impending slump ahead,Modi ignores the RBI warning that Sensex was not Indian economy and Indian Prime Minister Narendra Modi has taken direct control of a project-monitoring body to fast-track investments worth almost $300 billion and revive manufacturing in the country, two officials with direct knowledge of the matter told Reuters.
Meanwhile, with SpiceJet passing through a turbulent phase, Civil Aviation Ministry is likely to push for granting infrastructure status to the aviation industry to enable it to access finances at cheaper rates and ease the cash crunch.Indian airlines had been destroyed.What about the private aviation .The status may be investigated with case studies of King Fishers,Spice Jet and so on.
What is the logic of privatisation of most popular and profitable PSUs then?All PSUs have been subjected to divestment and bailout and SBI as well as LIC have to be used to resettle the indices in turmoil.That is what happens to be our grand emerging market economy.
Mind you,The Indian economy is well prepared to deal with any eventuality arising out of spike in the interest rates by the US Federal reserve, which is sending a strong signal of rate hike early next year, rating agency Crisil said on Thursday.
Indian rulers are investing on information technology dumping rural India,Indian Business and Indian Industry.Thus ,Modi is speaking of digital desh where we have to cease as human being and would be reduced to robots only. For all India's prowess in IT, large parts of its economy have yet to benefit from new technologies. That could be about to change. New research by the McKinsey Global Institute analyses twelve technologies, ranging from the mobile Internet to cloud computing to advanced genomics that could have a profound impact on growth and social progress and add $550 billion to a trillion dollars a year of economic value in India by 2025.
"We are better prepared to handle shocks arising out of an expected increase in the US interest rates next year," Crisil chief economist Dharmakirti Joshi said in an interaction on the social media site Twitter. Joshi said improvements incurrent account deficit (CAD), growth-inflation mix, sufficient import cover and steeply falling crude oil prices have put the country on a stronger wicket.
In a statement issued on Wednesday, the Federal Reserve said it would be 'patient' in deciding when to raise interest rates. Federal Reserve chairperson Janet Yellen explained that 'patient' meant the bank was unlikely to raise rates for 'at least a couple of meetings', that would mean April next year.
Going forward into 2015, the country will be among a select few economies which will witness rising growth and falling inflation, Joshi added. He said the recent fall in the rupee is on account of increased domestic demand for the dollar and global uncertainty. He expects the rupee to likely appreciate once global volatility comes off.
"We expect external factor driven volatility in the short term but maintain our forecast of 60 to the dollar by March," Joshi said. He said fall in crude prices is a net positive for the domestic economy, which is likely to clip to over 6% in FY16 versus around 5% this fiscal, he said adding, "steps to improve policy decision making and clear infra bottlenecks would gradually lift growth." The rating agency sees a high probability of an interest ratecut by the Reserve Bank in first quarter of the next fiscal.
Pro-business Modi has faced criticism in recent weeks that his ambition to spur investment and re-energise the economy has yet to be realised, more than six months after he won elections with the strongest mandate in three decades. Industrial output contracted in October in its worst performance in three years, jarring with a much-publicised "Make in India" campaign Modi has championed to make the country a manufacturing powerhouse. By taking over the Project Monitoring Group (PMG), which was previously in the Cabinet Secretariat, Modi could help firms planning coal, power, steel and infrastructure projects cut through a maze of up to 180 clearances.
"The fact that the prime minister's office (PMO) will be directly overseeing all the project clearances will impart a greater degree of efficiency and also ensure that clearances are fast tracked at every level," said one of the officials, declining to be identified ahead of a public announcement.
"The PMO's stamp will make a big difference." A PMO official said a bureaucrat who had worked closely with Modi when he was chief minister of Gujarat state will head the monitoring group. The senior officer is among a few trusted civil servants with whom the PMO thrashes out key decisions, often at the expense of ministerial authority.
Former Prime Minister Manmohan Singh set up the PMG last year to prod ministers and bureaucrats sitting on files, a tendency that came to be known as "policy paralysis" and was blamed for growth of less than 5% for two straight years.
Since its inception, the PMG has facilitated 197 stalled projects worth about $110 billion. South Korean steel maker POSCO is one of many companies to have approached the PMG. POSCO has waited nine years to get approvals to set up a $12 billion steel plant, which would be India's biggest foreign direct investment. Tata Power and Adani Power are other top companies awaiting clearances.
"Business confidence has certainly improved in the last six to seven months, but this confidence now needs to get translated in the project delivery, kick-starting the investment cycle and boosting consumer demand," said Sunil Kanoria, president-elect of industry body ASSOCHAM.
eBay survey shows tier II, III cities fueling e-commerce growth in India
Findings of the eBay Census 2014 research is based on analysis of all transactions by Indians on eBay between January 2013 and June 2014
Against general perception of metro cities driving the growth of e-commerce in India, online retail firm eBay India on Thursday said it is in fact the tier II and III cities that are contributing significantly to the sector. Against the 10 metro cities where e-commerce has seen traction, there are 3,133 tier I and II cities, and 1,233 rural hubs that are getting on to the online retail bandwagon, eBay India said in its Census 2014 report.
Findings of the eBay Census 2014 research is based on analysis of all transactions by Indians on eBay between January 2013 and June 2014. The census includes trends in online buying, selling and exporting across 28 states and seven Union Territories in India, and export trends in 206 countries across the globe.
"E-commerce in India has seen a significant upsurge in the number of people shopping online with its penetration into 4,556 hubs in the country," eBay India said in the report.
The top 10 rural hubs for e-commerce in India as per the eBay report include Guntur and Tada in Andhra Pradesh, Karthikappally in Kerala, Ghattia in Madhya Pradesh and Chorayasi in Gujarat. Budgam in Jammu & Kashmir and Cachar in Assam are also among the top 10 rural hub as per the report.
Among states, Delhi topped the list as the "number one e-commerce hub' with "maximum number of mobile phones and accessories sold," eBay said. Delhi was followed by Maharashtra, Tamil Nadu, Rajasthan and Karnataka.
Between cities also Delhi ranked first, followed by Mumbai, Jaipur, Bengaluru and Chennai. "Bengaluru gained a position due to higher sales on electronic items like laptops, tablets . And cameras," the report said.
Women buyers fueled use of e-commerce, while lifestyle remained one of the hottest category for buyers.
"Customers have been shopping more for products in the lifestyle category with women shoppers in the country being the prominent contributors to the category," the report said. "The lifestyle category has increased its share in the pie to 45 per cent, trailing the electronics category by just 2 per cent now as compared to 7 per cent in the previous census."
In line with what several experts have been highlighting, eBay's report said it was mobile commerce that has been fueling e-commerce in India as the increased use of mobile devices is allowing internet access to people in rural and semi-rural ares. EBay received 43 per cent of its traffic through mobile devices during the survey period.
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