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Showing posts with the label Indian economy

2047 and Beyond: Dreams, Delusions, and the Demand for Real Change

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By Mukesh Devrari  India stands at the cusp of a historic moment. So far, our national story has largely been one of unfulfilled potential. In contrast, China’s journey has been quite the opposite. It has shown the world that when political leadership possesses the vision and competence to prioritize economic growth, success can be achieved against all odds. China is now emerging as one of the world’s most powerful nations. Western countries are actively trying to prevent China from becoming the world’s largest economy, but this seems increasingly inevitable. Over the past decade, successive U.S. administrations have shamelessly attempted to cripple China’s economy. They’ve sought to ban Chinese companies from accessing vital materials and technologies in an effort to preserve their dominance in manufacturing. Today, China contributes to nearly half of global manufacturing output. While many developing nations also have large industries, they are mostly owned or controlled by Weste...

Disappointing First budget, Modi govt fails to inspire the nation

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By Mukesh Devrari  Never in the history of India has such a dull budget been presented by any finance minister. The BJP government began its third term with this budget, yet it offers nothing substantial to anyone. It is a widely held belief that the middle class supports the BJP because of its emphasis on economic development, rather than relying on distributing freebies to gain votes during elections. The BJP has historically championed globalization, liberalization, and privatization. In fact, this commitment cost them the 2004 election. Since then, no government has dared to speak openly about the Ministry of Disinvestment. There was hope that the BJP would provide some relief to taxpayers. Salaried individuals, who form the backbone of India's taxpayer base, expected reduced tax rates. Unfortunately, this budget failed to meet their expectations, leaving the BJP’s largest support base — the middle class — deeply disappointed. India is an aspirational nation. It has a vast y...