South Asia 100 crore Indians have no extra money to spend: Report

[Krishna with Flute]

https://www.reuters.com/article/business/indias-incredulous-data-economists-create-own-benchmarks-idUSKCN1SF0L2/

India's incredulous data: Economists create own benchmarks
By Manoj Kumar

NEW DELHI (Reuters) - Economists and investors are increasingly showing that they have little or no confidence in India's official economic data – presenting whoever is elected as the next prime minister with an immediate problem.

There have been questions for many years about whether Indian government statistics were telling the full story but two recent controversies over revisions and delays of crucial numbers have taken those concerns to new heights.

The government itself has admitted there are deficiencies in its data collection.

A study conducted by a division of the statistics ministry in the 12 months ending June 2017 found that as much as 36 percent of the companies in the database used in India's GDP calculations could not be traced or were wrongly classified.

Last December, the government held back the release of jobs data but an official report leaked to an Indian newspaper showed the unemployment rate had touched its highest level in 45 years.

Economists and investors are now voting with their feet – by using alternative sources of data and in some cases creating their own benchmarks to measure the Indian economy.

Many economists said they were stunned when the government upwardly revised GDP growth for 2016/17 to 8.2 percent from 6.7 percent.

Even those close to the government have said the lack of accuracy in the official data makes it much more likely that authorities will miss major swings in activity and be unable to react quickly to head off a crisis. It is also a problem for investors who may be misled into thinking the economy is more robust than it really is.

The opposition and other critics have said Modi suppressed jobs data and "massaged" economic growth numbers in an attempt to show that his government has done better than the previous administration.

Some investors have been burned by believing in India's high growth story.

P. C. Mohanan, former acting chairman of the national oversight body for statistics, who resigned to protest government interference over the release of the jobs figures and back series data on GDP, said the government hasn't allocated the resources it needs to measure activity given the growth in the economy.

Gita Gopinath, the International Monetary Fund’s chief economist, told an Indian TV channel last month the IMF had raised the issue of "transparency" with Indian officials in data collection and, in particular, measurement of the GDP deflator - the adjusted inflation rate used to estimate real GDP.

There are two names comes in forefront who disputes Government data. Both were saying very good about economy when they were in Government. They are Arvind Subramanium ex economic advisor of Indian government. Other name is Raguuram arjan ex head RBI. Both were US agents. Both were in highest economic bodies of India. Since when they are kicked out for favoring US, they keep bluffing all the nonsense. In one quarter when India's GDP figures were poor (4.5%, yes, 4.5% is very good for other countries but not India), he told it a Hindu growth rate. When the figure turned out to be 7.8%, he disputed the data.

Now you have talked about IMF economist, Now let me quote IMF reports about India. Let us see whether you are able to agree with it or not. Your cherry picking will expose you otherwise.

India has eliminated hunger poverty say IMF.

Extreme poverty eliminated in India, says IMF report. Findings decoded

As a resounding endorsement to PM Modi’s food security scheme Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY), the IMF has said that it “illustrates the robustness of India’s social safety architecture as it withstood one of the world’s biggest exogenous income shocks.” The scheme, it observed...

www.timesnownews.com

Form IMF directly,

https://www.imf.org/en/Publications/WP/Issues/2022/04/05/Pandemic-Poverty-and-Inequality-Evidence-from-India-516155

INDIA HAS ERADICATED EXTREME POVERTY: IMF REPORT - The Daily Guardian

Report lauds Prime Minister Narendra Modi’s food security scheme, the Pradhan Mantri Garib Kalyan Anna Yojana, for helping India achieve this feat.

thedailyguardian.com

Has India Really Eliminated Extreme Poverty Or Has It Stopped Counting Its Poor?

When the pandemic struck India, India was in its lowest economic growth in over a decade. According to the latest Oxfam report on inequality, the COVID-19 pandemic pushed more than 4.6 crore Indians into extreme poverty.

www.indiatimes.com

 

[Krishna with Flute]

India remains ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD​

India remains ‘bright spot’, to contribute 15% of global growth in 2023: IMF MD

"India's performance has been quite impressive. For this year, we expect India to retain a high growth rate, 6.8 per cent for the year that ends in March," IMF MD Kristalina Georgieva said.

indianexpress.com

India’s GDP To Grow At 7% In FY23, IMF Says Economy At Relative ‘Bright Spot’ In World​

India's GDP To Grow At 7% In FY23, IMF Says Economy At Relative ‘Bright Spot’ In World

While India's GDP is estimated at 7 per cent, lower than last fiscal year, IMF accords Indian economy to be in a 'bright spot'.

www.india.com

World Bank bullish on Indian economy, reaffirms faith in country's potential​

World Bank bullish on Indian economy, reaffirms faith in country's potential

The World Bank has expressed strong confidence in India's economic growth, despite a slight slowdown. The lender encouraged global investors to invest in India, emphasizing on its robust growth projection of 7.2% for the upcoming fiscal year as projected by RBI for December 2024.

economictimes.indiatimes.com

India’s Economy to Remain Strong Despite Subdued Global Growth​

India’s Economy to Remain Strong Despite Subdued Global Growth

The Indian economy continues to grow at a healthy pace despite challenging global conditions, according to World Bank’s latest India Development Update: India’s Trade Opportunities in a Changing Global Context. But to reach its $1 trillion merchandise exports goal by 2030, India needs to...

www.worldbank.org

India has potential to become world’s second-largest economy: Mark Mobius​

India has potential to become world’s second-largest economy: Mark Mobius

ddnews.gov.in

World Bank bullish on Indian economy: 'Shining light in the world, best place to invest'​

World Bank bullish on Indian economy: 'Shining light in the world, best place to invest' - World Bank bullish on Indian economy: 'Shining light in the world, best place to invest' BusinessToday

World Bank Country Director Auguste Tano Kouame dismissed worries over short-term fluctuations, calling India “the shining light in the world” and urging global investors to capitalise on its growth.

www.businesstoday.in

Now you can counter these news of Wb and IMF by searching a BS video from you tube which says that India is a backward economy, India has hunger, India is worse than Africa and Somalia etc. We have some very good well-wishers like you who continues to fabricate unrealistic negative news to please people like you. The fact of the matter is that our progress is outstanding. What we have done for our people has no parallel in whole world ever.

 

[Egyptian]

I love the free speech here @Bilal9

 

[Krishna with Flute]

I love the free speech here @Bilal9

he is a guy with agenda, particularly in case of India.

 

[Krishna with Flute]

India's extreme poverty rate declines from 27.1% in 2011-12 to 5.3% in 2022-23: World Bank​

Story by Statesman News Service
• 1w•
1 min read

India's extreme poverty rate declines from 27.1% in 2011-12 to 5.3% in 2022-23: World Bank
Data from the World Bank shows that India’s extreme poverty rate declined from 27.1% in 2011-12 to 5.3% in 2022-23. The development comes as the World Bank has revised upwards its threshold poverty line to $3 per day. India has lifted 171 million people from extreme poverty in the decade between 2011-12 and 2022-23, as per the international financial institution.





In contrast, nearly 45% of Pakistan’s population lives in poverty, with 16.5% classified as living in extreme poverty, as per the report.

The World Bank’s latest projections indicate that Pakistan’s poverty rate remains at 42.4%, with an estimated 1.9 million additional people expected to fall into poverty in 2024-25., “virtually unchanged from last year.”

The country’s 2.6% economic growth is also deemed “insufficient to reduce poverty.” “With population growing at nearly 2 per cent annually, this translates to 1.9 million additional people falling into poverty this year,” the report said.

World Bank’s report also mentioned that the agriculture sector faces significant challenges in Pakistan as in 2025, weather conditions deteriorated with a 40 per cent reduction in rainfall, alongside pest attacks and shifting production choices.

“Crop yields are projected to decline, ranging from 29.6 per cent for cotton to 1.2 per cent for rice, limiting sectoral growth to under 2 per cent,” the report says.