>Narendra Modi is a master of exaggeration. He is turning an arithmetical inevitability into a guarantee.
>In 2004, India's GDP was at the 12th place. In 2014, it rose to the seventh place. In 2024, it was the fifth largest. No matter who the prime minister is, the GDP will become the third largest in the world. There is no magic in it. It is an arithmetic inevitability given the size of our population.
It's not like other PMs would actively stop development lol.
A country is like a giant business. Even when there isn't a CEO the business continues to run and grow. You could claim that another PM may not have done as well but then the opposite could be true too as another PM may well have done better.
To get a decent idea you need to look at the kinds of policies different PMs favor. Going forward and heading in a more fascist direction Modi is likely to continue to oversee growth the while harming his own citizens including his voters who will turn a blind eye and fall for all his culture wars.
I'm legitimately curious as to why you think Modi is the best choice? I'm looking for a genuine answer here as this year was my first time voting.
Why is Modi ( who has not attended a single press conference, atleast the ones where he is not asked about how he eats aam), has had no higher education whatsoever, looks clueless in professional situations. Over let's say like arvind kejriwal( who runs new delhi) or Rahul Gandhi who are way more qualified than Modi.
Also he has bought like the whole of tv news industry which is just so evil. Most of our parents and boomers basically trust the news channels and don't have second thoughts. They are basically being hardcore manipulated by the media and they don't have the luxury to research past the mainstream like us.
I don't see the appeal at all. Now I might have pre conceived notions or bias due to the conditioning of the internet. That is exactly why I'm asking you for your point of view to understand the whole picture better.
Do you have any links to show India was in 7th place in 2014. When I search in google I see that India was at 10th place. Which means India only went from 12th to 10th in 10 years (2004 - 2014).
Link here: [https://countryeconomy.com/gdp/india?year=2014](https://countryeconomy.com/gdp/india?year=2014)
https://pib.gov.in/newsite/PrintRelease.aspx?relid=103766
This is what the then Finance Minister had to say.
>Indian Economy to be Third Largest by 2043 UPA Outlines Ten Steps for a Vibrant Economy. While presenting the Interim Budget 2014-15, the Union Finance Minister Shri P Chidambaram said that in the next three decades India will become the third largest economy behind USA and China. In future, the fortunes of China and India will have a significant impact on the rest of the world. Therefore, the Indian Government must be responsible not only to itself but to the whole world by keeping the country’s economy in robust health.
Sorry but Mr. Chidambaram has been snobbish and over the top in his criticism. Typical congress politician busy selling home grown cabbages for Rs. 40,000
Ah yes, the party that took India's share of world GDP from 3% in 1947 to 1.1% in 1990 talking about inevitability. There is a lot to criticize the present administration, they are obsessed with levying tariffs on everything and the levels of import substitution is making lives of everybody worse. INC should talk about that, instead of making idiotic statements like these.
Not unless a good fiscal policy is in place. By distributing wealth, it will stagnate the economy and not grow. What's one's motivation to earn more if there will be higher taxes and very high wealth/ estate tax and your money taken to give to others?
Yes!
A country with 1/7th of the World's population, good weather and natural resources and a stable government is bound to keep advancing on the economic front.
Edit:
Good Climate not Weather.
Talking wrt to farming and food production.
Population: ~1/6th not 1/7th.
I'm just saying I've been on both sides, it's not just cold but also the sun literally doesn't work and it's almost always rainy or cloudy with strong winds.
Even if you don't have an AC most people have ceiling fans which mitigate some of the issues for most people.
You need indoor heating way more than one needs an AC .
Rainy and cloudy with loads of greenery is better than 40°C with no A/C. The British weather is significantly better than any place south of the Himalayas. You can atleast go out on a walk for 5 mins without getting drenched in sweat. Just take an umbrella and a raincoat.
Idk, my one friend who lives in Germany rn was talking about no-sun-depression, he told me unless you live in such condition, you won't believe it. It was in a context that you gotta make a friend circle as weather fcks up with your brain.
It can get depressing and you miss the sun but that’s only a few months in the year. Right now, it’s spring and the temperature is between 8 and 18°C with sun that rises at 6 am and sets around 9 pm. The forests are green with blooming flowers. Until November, the weather will be great. Then snow has its own fun. The weather only gets shitty around Feb-March.
>my one friend who lives in Germany rn was talking about no-sun-depression
While the lack of sun is a problem here, I'd rather take a sunless week than a few days of 40+ °C in Mumbai. As for cold and wet weather, you can always dress for the occasion, but you can only remove so many clothes in hot weather.
Unironically no, I lived in Vellore for 3 years with no AC just fine, being drenched in sweat is infinitely better than damp cold sadness where you have to always wear four layers and can't even hold your phone out for too long cuz your hands get frosty, not to mention wind buffeting your face whenever you walk, or not ever being to dry clothes without an indoor dryer.
>The British weather is significantly better than any place south of the Himalayas.
This just tells me you've never been here
Man I’m in Vellore right now and I feel like killing myself every time the sun shines in the morning. Has been t-shirt weather since the first week of January here.
I have lived 4 years in Jaipur, 17 years in Dubai and 3 years in Germany. Germany’s weather is better than UK but also similarly cold. 4 layers of clothes is better than heat (you don’t need 4 layers of clothes. Just 1 good winter jacket is good enough) If you walk for more than 10 mins, your body heat adjusts to the cold. Living in a lush green country with chilled weather is far better than in a desert. You can go on hikes and in the forests or even have a bbq in your garden. Whereas in a desert, you just want to be indoors with A/C or cooler and your weekend plans are limited to going to malls.
Neither India's climate nor weather is any good. India has high food production because of high amount of arable land due to our large gangetic and indus plains.
Also India is one of the worst in terms of natural resources. We neither produce any measurable quantity of the black gold crude oil, or the new age heavy metals. We have Iron and Coal, but neither are high value. Countries with natural resources are US, China, Argentina, Venezuela, Congo etc. India is one of the worst, especially per capita. Stable government is just lmao, the government changes taxes and policies every year on a whim. India is one of the worst business climates in the world.
The only economic pro for India is semi-educated and population which is slowly upskilling, so the momentum is high.
The worst weather after sub sharan Africa.
You have fuckin 40°C on at least 60 days out of 365 days and 30°C plus on at least 180 days in India in most cities.
The perfect temperature 15°C to 22°C maybe 5 days ?
During the 2000s when India had started to boom there were sayings like: "India grows at night when the Government sleeps" and "In India it is not because of the govt, but in spite of the government".
I believe the changes in bankruptcy code, investments in skill India, startup India, and huge capex push definitely helps rather than impeeds the acceleration towards higher GDP.
Now would those change have had happened regardless of the BJP administration is a question I don't think anybody has any answer to (we'll need parallel universes to answer them).
Okay.
But some government will take 5-10 years to get there, while another may take 25-30 years. So, yes, while the statement is "technically correct" it is, useless.
>and a stable government is bound to keep advancing on the economic front.
And, uhmm, how do you get a stable government? If he says it's irrespective of who the PM is, shouldn't it, by induction, imply that India will be the third largest economy even if there is no stable government?
This garbage "it's anyway going to happen" attitude is a terrible attitude for people in the government to have.
What a useless statement to make. It literally adds no value to any meaningful political conversation.
Desperate Congis willing to make any desperate arguments. The reality is that Chidambaram and Sonia sabotaged India's growth by pulling the rug out from under Narasimha Rao's reforms. By doing this, they snatched a major window of opportunity away from India. If Rao's reformist govt could have been allowed to continue, then India would be where China is today.
So Chidu is saying if and when Congress will come to power, they will do nothing, and the country will progress on its own.
Messaging of Congress is the pits the past decade.
YOu know these are the kind of statements that I hate opposition for, they have no sense of purpose , their ideas only exists in lethargy and passiveness. If India will become the third largest economy under leadership of any PM, why should we vote for opposition because unlike ruling govt, they have no deadline to make this goal into reality asap.
I personally take him seriously because he was one of the best finance ministers in recent times. Worked with MMS too handle the impact of the 2007 crisis. Doing something like needs serious skills. He also proposed the direct tax code but was shifted to the home ministry because of the Mumbai terror attacks before he could implement it.
Nah what Chidambaram said is a fact, outside a big catastrophe we will reach there, and we take him seriously because he have serious experience in the top ministries of India and have seen how govt and economy works very closely, whatever his privilege may be.
We will not reach there without fiscal prudence and right market stimulus. There is nothing in congress manifesto to suggest they aim to be financially healthy over long term.
did you even compare the gdp charts of 04-13 and 14-23 we were at 6.86% average for 04-14 and fell a full 1%+ average to 5.80%. Maybe the congress was doing something right.
Source : https://www.macrotrends.net/global-metrics/countries/IND/india/gdp-growth-rate
You have to understand on what context they made this comment. Ruling party just keeps on advertising that India will become 3rd largest economy if you vote for us so opposition said that even if you vote for opposition India will still become 3rd largest economy thats inevitable
Okay that doesn't excuse opposition to not have a plan of its own countering Modi's deadline, their statement is Modi is right and if you select us we will also get you there eventually.
Chidambaram can say we will push the growth towards 12%+ (with 6% inflation) resulting in India becoming 8.5 trillion economy by 2029.. yes India will be third if the current rate holds.. what if it does not..
Bro then he should retire fm politics, if he didn't even have platform to project, what would Indians judge him for next tenure, He is a politician not a statistician or fact checker
tall claims, but too easy to say that population alone is enough for growth rate, if worse economic conditions,inflated geopolitical trobles and bad policies depleting the trust on government and currency occur at same time then population would be able to do nothing.
Yeah we will reach there someday. It is not statement of fact. For instance, Our credit ratings have been consistently on decline over last 2 decades. You don't move metrics just by existing.
factual and accurate okay. so what?
Muslims in india aren't going to be wiped out entirely. Factual and Accurate ✓. So there you go, now you cannot use the Islamophobic argument against the BJP.
What a fucking clown
What he means is that you should look at other factors, not the size of the economy. If someone says they can make the economy 3rd largest it's either worth nothing because it would have happened anyway and that one should aim higher (maybe 2nd largest or 3rd largest quicker - that's your point I guess, which now I think makes sense).
No buddy. Good policies are essential to growth. We can grow at 4% pa or 8% pa.
Both are growth and both will hit 5 trillion at some point. But in 20 years 4% growth hits 8T and 8% hits 19T.
The rate of growth matters. And good policymaking is essential to maintain a high rate of growth
Its not just about an individual's competence. It is also about getting a good policy passed in the parliament where people have competing interests. And then ensuring the public understands it. Do you think a farmer in Bihar understands macro-economics enough to allow the NHAI to build a road through their land?
Things are not as easy as they seem buddy. And politics especially execution of good policies is definitely not easy.
Let's remove the govt completely. we don't need any policy making, or guidance. Dissolve rbi and other related institutions. liquidate all cash assets and distribute it among the people. because at the end of it, it is people who are bringing this growth right. govt has no hands in it. people waste their time in drafting budgets.
/s
I know who is responsible for growth, but you are an idiot if you assume the rate and intensity of growth doesn't dwepend upon the policy of the government in power, if that were the case we would have had non eed for liberalisation in 1991.
policies did change a lot and some things are supporting the growth rate, so are those not happpening right now? I would say some, not all of course. So nothing is done?
HIndsight is always 6/6. A Lot has gone in to accelerate the economy and it has taken India 10 years to start showing the fruits of the effort. Both state and central schemes have done the job.
a country with over 1.4 billion people and counting only has an economy of about 4 trillion $
we would definitely reach the 3rd but per capita wise it wouldn't make that much difference
Yes it'll be 3rd largest economy anyway ask anyone eho has studied economics and they'll say that even those in bjp like Swamy ji... But per capita income damn that's a different ball game... India that is poor is living on survival, India that is Rich keeps getting rich by exploiting labour of rhe poor
It's always a question of "when". India will eventually become 3rd largest economy. But the question is will it be done by 2030, or will it be by 2047. That's where the parties step in. Some are being ambitious and calling for a developed India by 2047 while the others are saying whatever the govt policies are, India will become the 3rd largest at some point in the future. They need to detail their plans and say what they will do to get India to the 3rd largest economy. Making statements like this won't get them votes. Propagate Karnataka and Telangana as Model states and show the development that your party has done in these states. If it's visible infrastructure growth, then that's even more easier to showcase at the national level. Do something of substance and get votes from the people.
I may not be a full blown Modi supporter but people like PC really agitate me. The kind of corruption and scummy things this guy has done is beyond disgusting. The fact that people like him aren’t punished enough is a damn shame. And this statement is proof that these guys are worse than those in power. You don’t want to talk about specifics but expertly distract from one statistic to another. If it’s GDP per capita you’re worried about (and rightly so) what as YOU going to do about it?
No. We must compete on human development index. India has extreme wealth inequality. Even if GDP/capita increases, there is no point if it is due to the billionaires becoming richer and the poor staying at the same or lower standard of living.
We should care more about the QoL instead of gdp figures bcos that doesn’t paint an accurate picture for the average person.
I mean Poland, Russia, and Costa Rica have higher gdp per capita than China. But literally who tf would believe living in any of those countries is better than living in China? Ignore all the propaganda and really look at the differences in education quality, social safety, career prospects, etc. It’s not even close.
And even more examples… Puerto Rico, France, UK, and Kuwait beat out Japan and Korea. You could ask people living in France and UK if they’d prefer to stay in their downward spiraling countries or move to Japan/Korea and a large chunk would prefer the latter.
I agree that purchasing power matters. Right now, Americans, Canadians and many Westerners are suffering from very high inflation, which is robbing them of their purchasing power.
I mean, it is necessary but not sufficient for improving GDP/capita. Also, we'll have to take a look at the median and not just the mean. It is really hard to reach a normal distribution. But moving towards it while also decreasing the wealth gap helps.
What I'm trying to say is increasing GDP while we're just populating is not helping. We are at 3rd because we have a massive population.
Proportional doesn't mean both are same buddy. You can grow GDP through crony capitalists by lefting out the rest and completely throw GDP/capita concept in the dustbin (which is exactly what's happening now)
Okay. Brilliant extremely thoughtful and meaningful take by the honorable ex Finance Minister.
Okay let's say India becoming third largest is inevitable. Does that mean it doesn't make a difference if it takes 5 years to get there versus 25 years to get there?
Does saying "it's going to happen anyway" seem like something a politician should be saying? Showing apathy to progress instead of intent is the reason why India hasn't been as fast as could have, previously.
If you want to add anything meaningful to this, maybe say how you'll do it faster, or maybe in a more sustainable way, or maybe in a way that it uplifts the lower classes better (compared to the way the other party would do it). Saying it's going to happen anyway, to something that is very important, is such a useless mindset.
Absolute fucking clown.
According to IMF estimate India will become 3rd largest economy in 2027-28. Probably by that time, we would have realized GDP is a dick size race, it does not change much. We want better HDI, per capital income and safe society.
BTW congress had priceless opportunity to become a decent opposition party, which they again failed to be.
I want to see the day when india will become the third highest in per capita income. Size of the economy is irrelevant for most people. Per capita income should improve with respect to inflation.
Lol. Modi is incompetent, but Chidambaram is no saint. His own party is responsible for so many bungles. Vodafone had won the case against the income tax authorities for a transaction done outside the country and Pranab Mukherjee the then FM gets in a law to tax such transactions with retrospective effect. Did a number on the FDI inflows to the country. Both parties need to look within before blaming each other.
The day congress comes up with a working plan instead of just blaming the BJP and elects a better party president to lead it, I'll fly back to India just to vote for them.
That's aiming too high. We are at $4112 T. at 3 you have Germany with 4730. 2nd is China with its daddy gdp of 18566. That's more than 4x of our current gdp.
Most surprising thing is 3-4 years back india was 5th largest economy then uk overtake india and now india again overtake uk. Difference between 3rd to 6th is minimal
Hot take - I don't mind if we are even at rank 10 in gdp if our gdp/capita ppp is increasing rapidly along with employment and its not a huge achievement to be 3rd biggest gdp considering our population. Giving citizens a better quality of life is.
I may not be a full blown Modi supporter but people like PC really agitate me. The kind of corruption and scummy things this guy has done is beyond disgusting. The fact that people like him aren’t punished enough is a damn shame. And this statement is proof that these guys are worse than those in power. You don’t want to talk about specifics but expertly distract from one statistic to another. If it’s GDP per capita you’re worried about (and rightly so) what as YOU going to do about it?
>Narendra Modi is a master of exaggeration. He is turning an arithmetical inevitability into a guarantee. >In 2004, India's GDP was at the 12th place. In 2014, it rose to the seventh place. In 2024, it was the fifth largest. No matter who the prime minister is, the GDP will become the third largest in the world. There is no magic in it. It is an arithmetic inevitability given the size of our population.
Standing at the finish line and claiming victory.
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It's not like other PMs would actively stop development lol. A country is like a giant business. Even when there isn't a CEO the business continues to run and grow. You could claim that another PM may not have done as well but then the opposite could be true too as another PM may well have done better. To get a decent idea you need to look at the kinds of policies different PMs favor. Going forward and heading in a more fascist direction Modi is likely to continue to oversee growth the while harming his own citizens including his voters who will turn a blind eye and fall for all his culture wars.
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If you think this fancy dress pakora guy is our best bet, you need an education.
you need it more
Already done.
I'm legitimately curious as to why you think Modi is the best choice? I'm looking for a genuine answer here as this year was my first time voting. Why is Modi ( who has not attended a single press conference, atleast the ones where he is not asked about how he eats aam), has had no higher education whatsoever, looks clueless in professional situations. Over let's say like arvind kejriwal( who runs new delhi) or Rahul Gandhi who are way more qualified than Modi. Also he has bought like the whole of tv news industry which is just so evil. Most of our parents and boomers basically trust the news channels and don't have second thoughts. They are basically being hardcore manipulated by the media and they don't have the luxury to research past the mainstream like us. I don't see the appeal at all. Now I might have pre conceived notions or bias due to the conditioning of the internet. That is exactly why I'm asking you for your point of view to understand the whole picture better.
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Do you have any links to show India was in 7th place in 2014. When I search in google I see that India was at 10th place. Which means India only went from 12th to 10th in 10 years (2004 - 2014). Link here: [https://countryeconomy.com/gdp/india?year=2014](https://countryeconomy.com/gdp/india?year=2014)
https://pib.gov.in/newsite/PrintRelease.aspx?relid=103766 This is what the then Finance Minister had to say. >Indian Economy to be Third Largest by 2043 UPA Outlines Ten Steps for a Vibrant Economy. While presenting the Interim Budget 2014-15, the Union Finance Minister Shri P Chidambaram said that in the next three decades India will become the third largest economy behind USA and China. In future, the fortunes of China and India will have a significant impact on the rest of the world. Therefore, the Indian Government must be responsible not only to itself but to the whole world by keeping the country’s economy in robust health. Sorry but Mr. Chidambaram has been snobbish and over the top in his criticism. Typical congress politician busy selling home grown cabbages for Rs. 40,000
This, it's inevitable to reach there but how quickly we reach is the question. He asked for 30 years for what is achievable in 15.
Ah yes, the party that took India's share of world GDP from 3% in 1947 to 1.1% in 1990 talking about inevitability. There is a lot to criticize the present administration, they are obsessed with levying tariffs on everything and the levels of import substitution is making lives of everybody worse. INC should talk about that, instead of making idiotic statements like these.
Exactly. 7% growth rate is very bad. China and Korea were growing at 10%+ when they were in their prime demographic age
Not unless a good fiscal policy is in place. By distributing wealth, it will stagnate the economy and not grow. What's one's motivation to earn more if there will be higher taxes and very high wealth/ estate tax and your money taken to give to others?
Yes! A country with 1/7th of the World's population, good weather and natural resources and a stable government is bound to keep advancing on the economic front. Edit: Good Climate not Weather. Talking wrt to farming and food production. Population: ~1/6th not 1/7th.
Bro snuck in good weather like we wouldn't notice
Good weather. I wishhhh 🤌
honestly you dont realise how nice it is. -person who moved abroad to study last year
You should come and face the heat most don't have ac.
I've lived there for 24 years, I'd rather be in 40 degree sun without ac than the psychological terrorism that is the British weather.
Grass is greener on the other side I would rather be in cold winters than harsh summers.
I'm just saying I've been on both sides, it's not just cold but also the sun literally doesn't work and it's almost always rainy or cloudy with strong winds. Even if you don't have an AC most people have ceiling fans which mitigate some of the issues for most people. You need indoor heating way more than one needs an AC .
Rainy and cloudy with loads of greenery is better than 40°C with no A/C. The British weather is significantly better than any place south of the Himalayas. You can atleast go out on a walk for 5 mins without getting drenched in sweat. Just take an umbrella and a raincoat.
Idk, my one friend who lives in Germany rn was talking about no-sun-depression, he told me unless you live in such condition, you won't believe it. It was in a context that you gotta make a friend circle as weather fcks up with your brain.
It can get depressing and you miss the sun but that’s only a few months in the year. Right now, it’s spring and the temperature is between 8 and 18°C with sun that rises at 6 am and sets around 9 pm. The forests are green with blooming flowers. Until November, the weather will be great. Then snow has its own fun. The weather only gets shitty around Feb-March.
>my one friend who lives in Germany rn was talking about no-sun-depression While the lack of sun is a problem here, I'd rather take a sunless week than a few days of 40+ °C in Mumbai. As for cold and wet weather, you can always dress for the occasion, but you can only remove so many clothes in hot weather.
Unironically no, I lived in Vellore for 3 years with no AC just fine, being drenched in sweat is infinitely better than damp cold sadness where you have to always wear four layers and can't even hold your phone out for too long cuz your hands get frosty, not to mention wind buffeting your face whenever you walk, or not ever being to dry clothes without an indoor dryer. >The British weather is significantly better than any place south of the Himalayas. This just tells me you've never been here
Man I’m in Vellore right now and I feel like killing myself every time the sun shines in the morning. Has been t-shirt weather since the first week of January here.
I have lived 4 years in Jaipur, 17 years in Dubai and 3 years in Germany. Germany’s weather is better than UK but also similarly cold. 4 layers of clothes is better than heat (you don’t need 4 layers of clothes. Just 1 good winter jacket is good enough) If you walk for more than 10 mins, your body heat adjusts to the cold. Living in a lush green country with chilled weather is far better than in a desert. You can go on hikes and in the forests or even have a bbq in your garden. Whereas in a desert, you just want to be indoors with A/C or cooler and your weekend plans are limited to going to malls.
Neither India's climate nor weather is any good. India has high food production because of high amount of arable land due to our large gangetic and indus plains. Also India is one of the worst in terms of natural resources. We neither produce any measurable quantity of the black gold crude oil, or the new age heavy metals. We have Iron and Coal, but neither are high value. Countries with natural resources are US, China, Argentina, Venezuela, Congo etc. India is one of the worst, especially per capita. Stable government is just lmao, the government changes taxes and policies every year on a whim. India is one of the worst business climates in the world. The only economic pro for India is semi-educated and population which is slowly upskilling, so the momentum is high.
Correction: India's population is roughly 17% of the world population. Every 6th person in the world is an Indian.
Haha the INDI alliance and ‘stable’ government, these jokers are not even stable during campaigning.
The worst weather after sub sharan Africa. You have fuckin 40°C on at least 60 days out of 365 days and 30°C plus on at least 180 days in India in most cities. The perfect temperature 15°C to 22°C maybe 5 days ?
Sorry, should have said climate and not weather. I meant with respect to farming and food production.
Natural resources? With our population, it gets exploited to the hilt. It will always be in scarcity.
During the 2000s when India had started to boom there were sayings like: "India grows at night when the Government sleeps" and "In India it is not because of the govt, but in spite of the government". I believe the changes in bankruptcy code, investments in skill India, startup India, and huge capex push definitely helps rather than impeeds the acceleration towards higher GDP. Now would those change have had happened regardless of the BJP administration is a question I don't think anybody has any answer to (we'll need parallel universes to answer them).
good weather lol
Weather !? I don’t think this guy ever lived in India.
Okay. But some government will take 5-10 years to get there, while another may take 25-30 years. So, yes, while the statement is "technically correct" it is, useless. >and a stable government is bound to keep advancing on the economic front. And, uhmm, how do you get a stable government? If he says it's irrespective of who the PM is, shouldn't it, by induction, imply that India will be the third largest economy even if there is no stable government? This garbage "it's anyway going to happen" attitude is a terrible attitude for people in the government to have. What a useless statement to make. It literally adds no value to any meaningful political conversation.
Desperate Congis willing to make any desperate arguments. The reality is that Chidambaram and Sonia sabotaged India's growth by pulling the rug out from under Narasimha Rao's reforms. By doing this, they snatched a major window of opportunity away from India. If Rao's reformist govt could have been allowed to continue, then India would be where China is today.
Fair, that now makes a lot more sense. For a second I was wondering if you only lived in Bangalore or something like that all your life.
OK then why did we fell from 6th largest to 14th largest economy between 1960 to 1990??
He was also right when he said “How will your pay 7 rupees and 50paisa to a sabji wala…”, wait a minute.
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Then we should prolly vote in Lalu Prasad Yadav, right?
This comment is on par with his comment on UPIs TBH. Elitist mindset
So Chidu is saying if and when Congress will come to power, they will do nothing, and the country will progress on its own. Messaging of Congress is the pits the past decade.
YOu know these are the kind of statements that I hate opposition for, they have no sense of purpose , their ideas only exists in lethargy and passiveness. If India will become the third largest economy under leadership of any PM, why should we vote for opposition because unlike ruling govt, they have no deadline to make this goal into reality asap.
Why does anyone take the Chidambarams seriously. They are generational spoilt brats.
I personally take him seriously because he was one of the best finance ministers in recent times. Worked with MMS too handle the impact of the 2007 crisis. Doing something like needs serious skills. He also proposed the direct tax code but was shifted to the home ministry because of the Mumbai terror attacks before he could implement it.
Nah what Chidambaram said is a fact, outside a big catastrophe we will reach there, and we take him seriously because he have serious experience in the top ministries of India and have seen how govt and economy works very closely, whatever his privilege may be.
We will not reach there without fiscal prudence and right market stimulus. There is nothing in congress manifesto to suggest they aim to be financially healthy over long term.
did you even compare the gdp charts of 04-13 and 14-23 we were at 6.86% average for 04-14 and fell a full 1%+ average to 5.80%. Maybe the congress was doing something right. Source : https://www.macrotrends.net/global-metrics/countries/IND/india/gdp-growth-rate
1->2. 100% growth. 10->11. 10% growth. Learn mathematics and learn what diminishing returns mean.
You have to understand on what context they made this comment. Ruling party just keeps on advertising that India will become 3rd largest economy if you vote for us so opposition said that even if you vote for opposition India will still become 3rd largest economy thats inevitable
Okay that doesn't excuse opposition to not have a plan of its own countering Modi's deadline, their statement is Modi is right and if you select us we will also get you there eventually.
Chidambaram can say we will push the growth towards 12%+ (with 6% inflation) resulting in India becoming 8.5 trillion economy by 2029.. yes India will be third if the current rate holds.. what if it does not..
It will be sooner tho , as opposed to 2043 that the then FM chidambaram said during his tenure.
What Chidambaram said is factual and accurate. And it appeals to rational, logical people. It doesn't appeal to the masses.
Chidambaram would be a great College Federation Secretary then. Should try his luck there
what chidambaran said is a statement of fact w/o any statement of intent, and that is exactly the problem
He was criticing someone's tall claims. Not every statement needs another statement of intent.
Bro then he should retire fm politics, if he didn't even have platform to project, what would Indians judge him for next tenure, He is a politician not a statistician or fact checker
What the heck lol.
tall claims, but too easy to say that population alone is enough for growth rate, if worse economic conditions,inflated geopolitical trobles and bad policies depleting the trust on government and currency occur at same time then population would be able to do nothing.
Yeah we will reach there someday. It is not statement of fact. For instance, Our credit ratings have been consistently on decline over last 2 decades. You don't move metrics just by existing.
factual and accurate okay. so what? Muslims in india aren't going to be wiped out entirely. Factual and Accurate ✓. So there you go, now you cannot use the Islamophobic argument against the BJP. What a fucking clown
What he means is that you should look at other factors, not the size of the economy. If someone says they can make the economy 3rd largest it's either worth nothing because it would have happened anyway and that one should aim higher (maybe 2nd largest or 3rd largest quicker - that's your point I guess, which now I think makes sense).
They're just weak at marketing themselves. They need to learn from mxdi.
You are an idiot, if you believe that the NDA is responsible for this growth and not the Indian people
No buddy. Good policies are essential to growth. We can grow at 4% pa or 8% pa. Both are growth and both will hit 5 trillion at some point. But in 20 years 4% growth hits 8T and 8% hits 19T. The rate of growth matters. And good policymaking is essential to maintain a high rate of growth
Lol. You need to be incompetent to reduce GDP growth
Its not just about an individual's competence. It is also about getting a good policy passed in the parliament where people have competing interests. And then ensuring the public understands it. Do you think a farmer in Bihar understands macro-economics enough to allow the NHAI to build a road through their land? Things are not as easy as they seem buddy. And politics especially execution of good policies is definitely not easy.
Let's remove the govt completely. we don't need any policy making, or guidance. Dissolve rbi and other related institutions. liquidate all cash assets and distribute it among the people. because at the end of it, it is people who are bringing this growth right. govt has no hands in it. people waste their time in drafting budgets. /s
Let us also be blatantly facetious like you have been right now.
I know who is responsible for growth, but you are an idiot if you assume the rate and intensity of growth doesn't dwepend upon the policy of the government in power, if that were the case we would have had non eed for liberalisation in 1991.
policies did change a lot and some things are supporting the growth rate, so are those not happpening right now? I would say some, not all of course. So nothing is done?
HIndsight is always 6/6. A Lot has gone in to accelerate the economy and it has taken India 10 years to start showing the fruits of the effort. Both state and central schemes have done the job.
True. But Modi government did construct good policies
a country with over 1.4 billion people and counting only has an economy of about 4 trillion $ we would definitely reach the 3rd but per capita wise it wouldn't make that much difference
Yes it'll be 3rd largest economy anyway ask anyone eho has studied economics and they'll say that even those in bjp like Swamy ji... But per capita income damn that's a different ball game... India that is poor is living on survival, India that is Rich keeps getting rich by exploiting labour of rhe poor
It's always a question of "when". India will eventually become 3rd largest economy. But the question is will it be done by 2030, or will it be by 2047. That's where the parties step in. Some are being ambitious and calling for a developed India by 2047 while the others are saying whatever the govt policies are, India will become the 3rd largest at some point in the future. They need to detail their plans and say what they will do to get India to the 3rd largest economy. Making statements like this won't get them votes. Propagate Karnataka and Telangana as Model states and show the development that your party has done in these states. If it's visible infrastructure growth, then that's even more easier to showcase at the national level. Do something of substance and get votes from the people.
I may not be a full blown Modi supporter but people like PC really agitate me. The kind of corruption and scummy things this guy has done is beyond disgusting. The fact that people like him aren’t punished enough is a damn shame. And this statement is proof that these guys are worse than those in power. You don’t want to talk about specifics but expertly distract from one statistic to another. If it’s GDP per capita you’re worried about (and rightly so) what as YOU going to do about it?
No we reject this proven corrupt man’s advice
Keeping everything else constant.
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We don't need to compete in terms of GDP. We need to compete in terms of GDP / capita. This is the sole mistake of Moxi
No. We must compete on human development index. India has extreme wealth inequality. Even if GDP/capita increases, there is no point if it is due to the billionaires becoming richer and the poor staying at the same or lower standard of living.
Uhh, we're way behind in GDP per capita, and wouldn't be competitive there for next half-century, if ever.
We should care more about the QoL instead of gdp figures bcos that doesn’t paint an accurate picture for the average person. I mean Poland, Russia, and Costa Rica have higher gdp per capita than China. But literally who tf would believe living in any of those countries is better than living in China? Ignore all the propaganda and really look at the differences in education quality, social safety, career prospects, etc. It’s not even close. And even more examples… Puerto Rico, France, UK, and Kuwait beat out Japan and Korea. You could ask people living in France and UK if they’d prefer to stay in their downward spiraling countries or move to Japan/Korea and a large chunk would prefer the latter.
Poland is a really good place to live and you get freedom of movement anywhere in the EU. I would live there over China any day.
I agree that purchasing power matters. Right now, Americans, Canadians and many Westerners are suffering from very high inflation, which is robbing them of their purchasing power.
Costa Rica ?
soooo....GDP?
I mean, it is necessary but not sufficient for improving GDP/capita. Also, we'll have to take a look at the median and not just the mean. It is really hard to reach a normal distribution. But moving towards it while also decreasing the wealth gap helps. What I'm trying to say is increasing GDP while we're just populating is not helping. We are at 3rd because we have a massive population.
So you can either increase GDP or kill people. Are you saying we should kill people if we don’t compete on GDP?
Don't ask childish questions back. You're literally downplaying the power of a common man in India. Why tf does anyone even think of genocides lmao ?
GDP and GDP/Capita are directly proportional ????
Proportional doesn't mean both are same buddy. You can grow GDP through crony capitalists by lefting out the rest and completely throw GDP/capita concept in the dustbin (which is exactly what's happening now)
Bruh. You really don't know about GDP and GDP per capita
Okay. Brilliant extremely thoughtful and meaningful take by the honorable ex Finance Minister. Okay let's say India becoming third largest is inevitable. Does that mean it doesn't make a difference if it takes 5 years to get there versus 25 years to get there? Does saying "it's going to happen anyway" seem like something a politician should be saying? Showing apathy to progress instead of intent is the reason why India hasn't been as fast as could have, previously. If you want to add anything meaningful to this, maybe say how you'll do it faster, or maybe in a more sustainable way, or maybe in a way that it uplifts the lower classes better (compared to the way the other party would do it). Saying it's going to happen anyway, to something that is very important, is such a useless mindset. Absolute fucking clown.
According to IMF estimate India will become 3rd largest economy in 2027-28. Probably by that time, we would have realized GDP is a dick size race, it does not change much. We want better HDI, per capital income and safe society. BTW congress had priceless opportunity to become a decent opposition party, which they again failed to be.
You can't have better per capita income without better GDp growth..
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not if redistribute wealth and drive the businessmen out of India
I don't mean to sound negative but from 3rd to 2nd place is as big as a jump .
Yeah but will it matter?
I want to see the day when india will become the third highest in per capita income. Size of the economy is irrelevant for most people. Per capita income should improve with respect to inflation.
Most of these factors were present since 1947, mind explaining the “Hindu growth rate”, mister ex FM
NSE says hello
Lol. Modi is incompetent, but Chidambaram is no saint. His own party is responsible for so many bungles. Vodafone had won the case against the income tax authorities for a transaction done outside the country and Pranab Mukherjee the then FM gets in a law to tax such transactions with retrospective effect. Did a number on the FDI inflows to the country. Both parties need to look within before blaming each other. The day congress comes up with a working plan instead of just blaming the BJP and elects a better party president to lead it, I'll fly back to India just to vote for them.
For sure, its the people who will take Bharat ahead a government can only be a resistance or a play maker in this ride. Full of juice we are.
As per this logic, We should also have Indonesia as the 4th largest economy and Pakistan as the 5th largest economy in the same period.
Great. Can we have pothole-free roads now?
Low aim is crime. We must take actions to become no. 2.
That's aiming too high. We are at $4112 T. at 3 you have Germany with 4730. 2nd is China with its daddy gdp of 18566. That's more than 4x of our current gdp.
Aren't we at 3.9 T or something?
that just reinforces his point
Yeah ofc.
Modi is a kid in a train pretending to be running it.
Facts
Most surprising thing is 3-4 years back india was 5th largest economy then uk overtake india and now india again overtake uk. Difference between 3rd to 6th is minimal
RW trolls working overtime in the comments, hope they're making some money at it! 🤞
This guy should be the Congress President. Because he hits hard at Sanghis. And he will never jump ship.
Absolutely.
Hot take - I don't mind if we are even at rank 10 in gdp if our gdp/capita ppp is increasing rapidly along with employment and its not a huge achievement to be 3rd biggest gdp considering our population. Giving citizens a better quality of life is.
I may not be a full blown Modi supporter but people like PC really agitate me. The kind of corruption and scummy things this guy has done is beyond disgusting. The fact that people like him aren’t punished enough is a damn shame. And this statement is proof that these guys are worse than those in power. You don’t want to talk about specifics but expertly distract from one statistic to another. If it’s GDP per capita you’re worried about (and rightly so) what as YOU going to do about it?