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How freebie-led bad economics is ruining finances of Himachal Pradesh & Punjab 

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As state officials protest against the Himachal Pradesh government’s fiscal policies & the Punjab government implements drastic steps to shore up its finances, Economist Radhika Pandey and Deputy Editor TCA Sharad Raghavan discuss the extent of the problem & how these can be overcome, in #MacroSutra.
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17 сен 2024

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Комментарии : 161   
@sumasingh2104
@sumasingh2104 5 дней назад
It's a pity that politics overtakes the economic rational. This is just the beginning of the fiscal decline .....many more States will join this doomed party !
@kitnanaai
@kitnanaai 5 дней назад
We can never become a developed country with a lethargic democracy. If these suicidal economic policies aren’t prohibited, we will become Sudan and Somalia
@LikeDeep-q6w
@LikeDeep-q6w 5 дней назад
Except for Modi, no other leader (even from the BJP) is talking about becoming a developed country. This country never had the will or desire to become developed.
@xxyz2023
@xxyz2023 5 дней назад
​​@@LikeDeep-q6wWe can make UP, Kyoto in 5 years!
@adarshwanderer5704
@adarshwanderer5704 5 дней назад
@@LikeDeep-q6w What is a developed country ?
@anuragbanerjee2879
@anuragbanerjee2879 5 дней назад
@@adarshwanderer5704 Where you can drink water straight from the Tap
@adarshwanderer5704
@adarshwanderer5704 5 дней назад
@@anuragbanerjee2879 That my father use to do 30 years back. We had a handpump at home back then and the water was fresh and needed no filter. Were we developed 30 years back?
@hemikovsky
@hemikovsky 5 дней назад
Punjab is ruined. Their Canadian dreams are also ruined. They won't get a Truck driver's job there!
@noneoftheabove666
@noneoftheabove666 5 дней назад
This is a scary situation. Youth unemployment and terrible economics is a potent mix that very well might start to turn into violence.
@xxyz2023
@xxyz2023 4 дня назад
@@noneoftheabove666 unemployment is all over the country, but mainly in bihar, haryana, rajasthan.
@tsunami3880
@tsunami3880 4 дня назад
​@@xxyz2023unemployment very very high in up, bihar, west Bengal, Rajasthan These states youth just eating sleeping eating sleeping Crores of peoples unemployed but India government hide these data to public Punjab haryana rich states even without employment they can survive or migrate to foreign countrys Up bihar westbengal very poor suffers lot
@noneoftheabove666
@noneoftheabove666 4 дня назад
@@xxyz2023 But Bihar, Haryana or Rajasthan doesn't have the violent recent history like Punjab.
@xxyz2023
@xxyz2023 4 дня назад
@@noneoftheabove666 just about top unemployment out of all the states
@Kannadiga321-r4n
@Kannadiga321-r4n 5 дней назад
Add Karnataka for that list, CM siddu started increasing milk prices for the third time in 12 months 😢
@dr.sidharthasankarnayak3353
@dr.sidharthasankarnayak3353 4 дня назад
Congi govt means ,2 yrs of joy ,and then 15 yrs of hard suffering ,bad economies,apart from hindu hate,muslim appeasement. Thnk god ,odisha have been cong mukt since 25 yrs.after bjd rule ,bjp formed the govt.
@tsunami3880
@tsunami3880 4 дня назад
Bjp not creat any jobs at all only playing hindu muslim games it doesn't help to anyone Punjab haryana himachal pradesh has low population, all are rich so don't have much problems to them Up bihar westbengal suffer lot these states high population density every where people less land
@maheshpalsingh2097
@maheshpalsingh2097 5 дней назад
People are short sighted and concerned with their selfish motto. That's why irresponsible governments are elected.
@anjanadas2105
@anjanadas2105 5 дней назад
Freebies are introduced by Arvind K , who runs now another Mammi Papa private political party
@noneoftheabove666
@noneoftheabove666 5 дней назад
Khatakhat khatakhat khatakhat!!
@prashantpatel4848
@prashantpatel4848 4 дня назад
Khatakhat leads to fatafat bankruptcy.
@v25sinha
@v25sinha 5 дней назад
It hurts in states which don't generate much revenue apart from basic taxes...states with high on industrialization or tourism....Delhi can manage this easily due to cash tax surplus with less on expenditure as Central takes care of Police Infra few hospitals and Universities...etc
@xxyz2023
@xxyz2023 5 дней назад
well but delhi gives highest employment compared to any other state in India
@v25sinha
@v25sinha 5 дней назад
​@@xxyz2023No complains on Delhi.....it can afford...other states copying will be in trouble ...esp where revenue is limited....and cannot expand industrialization or tourism ..
@vijaykaramta2324
@vijaykaramta2324 5 дней назад
​@@xxyz2023which type of employment is generated by Delhi.
@xxyz2023
@xxyz2023 5 дней назад
@@vijaykaramta2324 Union govt own data says unpaid workers are also considered as employed, so I can't be sure of granular quality of jobs here.
@xxyz2023
@xxyz2023 5 дней назад
@@vijaykaramta2324 I believe we are the only nation, where union govt considers unpaid workers & even 1 hr of work per week, as a fully time employment.
@nitinpatel1039
@nitinpatel1039 5 дней назад
Abhi to party start hue he karnataka ka haal dekhna next financial year tak, waha to himachal ko bhi peche chod diya, imagine one of the growth engine state of India failing and impact it will have on foreign investors, bjp is forced politically to match these economic disasters, ups is one such example, in maharashtra party has to do it, every single state in India is on this path of populism which will have one end and we all know it how it will end
@himanshuchandrakar4087
@himanshuchandrakar4087 5 дней назад
Karnatka has Bangalore to coverup there financial indiscipline
@xxyz2023
@xxyz2023 4 дня назад
@@himanshuchandrakar4087 sure. the ruling party at the centre did when they were the previous govt. Believe whatever, but Karnataka creates 5 times more per capita income than U.P & counts for 8% of India's Gdp.
@navdeepkumar5085
@navdeepkumar5085 2 дня назад
Ups isn't even putting any burden on govt, many people won't even opt for it.
@rajx7120
@rajx7120 5 дней назад
I hope some political party comes up with the idea that, replacing freebies with tax cuts, on petrol, property etc, is the way to go.
@vasanthpragash854
@vasanthpragash854 5 дней назад
This is logical, however this shifts benifits to people who may not re elect the government that does this. Those who loose subsidy are far more likely to go out and swing elections.
@anuchugh31
@anuchugh31 4 дня назад
Supreme Court should take this in hand. No political parties seem interested
@rajx7120
@rajx7120 4 дня назад
@@vasanthpragash854 Yes. New beneficiaries don't reward the govt, while losers are quick to punish them.
@abhrojitdhar4921
@abhrojitdhar4921 3 дня назад
replacing freebies with tax cuts doesn't make sense ... They affect different classes of people ... cutting taxes will mostly or disproportionately benefit reasonably well to do citizens from lower middle and above. What might be better will be to fine tune subsidies/freebies to benefit only the poor and some tax reform to help out the middle class ... you can't choose one over the other we have to do both
@rajx7120
@rajx7120 3 дня назад
@@abhrojitdhar4921 I guess, replacing subsidies with Direct Benefit Transfer could be a solution. And giving only, to those, who have low bank balance. While totally weeding out usage of cash.
@arpitaacs
@arpitaacs 5 дней назад
Non bjp govts are fiscally irresponsible. Its a clear trend. Guj, Orissa vs Punjab, Himachal as called out.
@s20233s
@s20233s 4 дня назад
But channel like yours highlight these freebies and promote political parties who offer them
@udayanbadola7077
@udayanbadola7077 4 дня назад
Good economics is bad politics.
@atulchalbaaz
@atulchalbaaz 5 дней назад
Same is happening in Rajasthan
@anirudhnaagi
@anirudhnaagi 5 дней назад
Yet you will support Congress!!
@s20233s
@s20233s 4 дня назад
Delhi, Karnataka , Himachal Pradesh all had a surplus but all now in debt because of freebies
@Sunilthakurr
@Sunilthakurr 5 дней назад
People are stupid.
@ridhamatri9447
@ridhamatri9447 5 дней назад
Don't give a penny to these arrogant states !
@bhikariman-sigmamale
@bhikariman-sigmamale 5 дней назад
West Bengal ka haal bhi same hai
@rajx7120
@rajx7120 4 дня назад
@@bhikariman-sigmamale They are saving police expenditure, by hiring civic volunteers, who do more crime than they solve.
@akashgavhane1241
@akashgavhane1241 5 дней назад
Everybody blames freebies but nobody blames high govt employees salaries and pension incl army which should be based on free market and the formula should be lowest salary should be given to minimum qualifying skills. Get rid of pension.
@prabhat-oi6gm
@prabhat-oi6gm 5 дней назад
True 👍👍👍
@xxyz2023
@xxyz2023 5 дней назад
Govt should not be given salary too; especially when politicians who get high pensions when they are member in rajya or lok sabha
@anuchugh31
@anuchugh31 4 дня назад
Absurd. Who’ll fight for the country among one of the most dangerous areas of the world without Armed Forces being taken care of
@akashgavhane1241
@akashgavhane1241 4 дня назад
@@anuchugh31there are millions can do it for even 30000 per month no need to pay lakhs per month.
@akashgavhane1241
@akashgavhane1241 4 дня назад
@@anuchugh31 in usa govt salaries are lower than countries per capita income here in india it is 4 to 5 times more than countries per capita income.
@anu31704u
@anu31704u 4 дня назад
Despite being so objective, Sadly you’ll be tagged as “godi media” to study non-bjp ruled states and not looking through an economic mismanagement lens
@KennyTony-m2v
@KennyTony-m2v 5 дней назад
My main concern is how to survive all of these financial and political crisis, especially in light of the US political power scuffle. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance.
@thenextorbit
@thenextorbit 5 дней назад
good discussion !!!
@drvenkatasyamprasadmudadla4420
Guys I seriously wish you can make one analysis on the state of finances of Andhra Pradesh, Telangana & Karnataka as well
@bosepukur
@bosepukur 5 дней назад
What did Himachal do to get to this situation , as you were saying they were in a surplus situation ?
@qwertyca
@qwertyca 5 дней назад
They voted for Congress...
@SanjayTiwari-bh8rd
@SanjayTiwari-bh8rd 4 дня назад
Can you have a similar session on state of Uttar Pradesh finances and how it has evolved after the introduction of GST regime.
@Bulldozz1-1
@Bulldozz1-1 5 дней назад
Congress will successfully undo all the fiscal work done in the last decade
@ayanmishra2186
@ayanmishra2186 4 дня назад
"Affirmative action"
@parvadhami980
@parvadhami980 5 дней назад
Ladli Behen, Ladla Ladka, Ladli Maa 😂 Itna laad kiya ki ab kuchh bacha hi nahi 😂
@muralikrishnanr6738
@muralikrishnanr6738 4 дня назад
Khata khat economics from opposition.
@nagatubein
@nagatubein 3 часа назад
Why do you expect centre to help them ? Modi ji clearly called them out much earlier that these kind of revadias will create trouble for State and ppl. These opposition parties are not good for Bharat. They shouldn't be allowed to function anymore.
@AshutoshSingh-kb3cm
@AshutoshSingh-kb3cm День назад
HP has been in shambles recently. Punjab is in ruins for quite long. Moreover, its way easier to vail out HP. Pubjab, not so!
@manekkapur8889
@manekkapur8889 4 дня назад
Very poor opposition in both the States.
@Kannadiga321-r4n
@Kannadiga321-r4n 5 дней назад
Telangana, Kerala, Karnataka, Punjab, Madya pradesh, HP, WB are at the verge of financial collapse
@tsunami3880
@tsunami3880 4 дня назад
Telangana kerala karnataka Punjab don't have much problems because of these states has citys, less poverty, less inequality
@Kannadiga321-r4n
@Kannadiga321-r4n 3 дня назад
@@tsunami3880 I am from Karnataka , I am aware of inequality in Karnataka.
@joydevsarkar4474
@joydevsarkar4474 5 дней назад
Add west bengal tooin this list the lakshmi vandar scheme and also money given to local clubs during festival
@804ashish
@804ashish 5 дней назад
I guess what changed for HP in 22
@saradhiroy
@saradhiroy 4 дня назад
TCS do same on Kerala & Waste Bengal
@uzumakimodi493
@uzumakimodi493 Час назад
Punjab, especially jatt sikhs have zero entrepreneurship capabilities. if khatri's were not present in punjab. The state would literally collapse, as they pretty run the remaining industries. And the kind of threats they receive from kissan jatt jamat, i wouldn't invest a single penny in punjab.
@wheeloftime2908
@wheeloftime2908 15 часов назад
Two priviliged ,elitist Indians Radhika Pandey & Sharad Raghavan have gone so far right wing .Wow.These two people despise d middle,working class and affordable educ,healthcare .My niece's schooling costs will come to 6,50,000.Just her schooling .Pvt healthcare is even more terrifying.
@shams33964
@shams33964 4 дня назад
Why do not match with MP, and Gujarat
@adarshwanderer5704
@adarshwanderer5704 5 дней назад
Freebies in M.P, Freebies in Chattisgarh, Freebies in Odisha, Freebies in Maharastra. In fact before elections only freebies by BJP in Himachal where it forgave Water bill of everyone in the state including hoteliers and reduced the ticket prices for commuters to half. Then we see freebies in Telangana, Karnataka and T.N.
@thiruvetti
@thiruvetti 5 дней назад
BJP were against Freebies. But they are being forced by foolish People mandate to join the Freebie brigade. I dont blame them.
@adarshwanderer5704
@adarshwanderer5704 5 дней назад
@@thiruvetti Really? Congress then was the first one who was against freebies. Modi came and offered free ration. 5 lakh insurance and then 2000 freebies to Kisans. I don't blame Congress for this
@santoshkiransulake
@santoshkiransulake 5 дней назад
​@@adarshwanderer5704so now you say kisan should not get 2000, it helps the poorest of poor farmers, and rice is something coming from the congress era, giving 5KG raashan from a government organisation at subsidy, govt overtook it and made it free as there were many going to bed hungry, please define freebies and then we can say which is problematic and which is not, freebies like distribution of Televisions, free electricity and free water is creating a heft on our distribution companies
@adarshwanderer5704
@adarshwanderer5704 5 дней назад
@@santoshkiransulake So why distribution of 200 unit of electricity to promote less electricity usage and help people save money is bad ? After 200 units you have to pay bill.
@vijaykaramta2324
@vijaykaramta2324 5 дней назад
less debt to GDP ratio state Odisha 11% Gujarat 15% Chhatisgarh 17% Maharashtra 18% Odisha and chhatisgarh have natural resources due to less debt to GDP. Gujarat and Maharashtra real economical power house of India.
@nagbalkur1365
@nagbalkur1365 5 дней назад
anyone can promise anything to get votes and win election, and it is NOT considered illegal. voters should realize that and ask question, how promises would be fulfilled. otherwise, whole country could go bankrupt like many latin american countries who also offered mindless freebies and went bankrupt. Karnataka too is headed in this direction as Chief minister's chief economic advisor said there is no money left for development.
@Kannadiga321-r4n
@Kannadiga321-r4n 5 дней назад
16:30 GST compensation was available till 2022 everyone knew it in 2017 only stop giving excuses
@vinaymaka
@vinaymaka 3 дня назад
Wow only non BJP states good job Print keep it up.
@nikhilgarg2870
@nikhilgarg2870 4 дня назад
The panel chooses to ignore how some states get back only a fraction of what they generate in taxes for central pool while some get multiple times of same. About Punjab they conveniently rolled over the slide which showed fiscal deficit coming down since 2022 since aap has been in power even though the same year gst compensation was stopped. Also if they truly wanted to analyse Punjabs debt they would have found the state BJP Akali left Punjab in 2017 which we are paying for now. If center is so concerned with Punjab welfare why not allow trade with Pakistan and consequently entire central asia, same of which is allowed through Guj ports hence we are not holding our breath here. The Print has always been biased towards AAP because Kejriwal called out Shekhar once. You can see it Print’s reporting of Punjab though some ground reports have been fairly accurate. I don’t even want to go into details of how center is stopping funds under various heads and arm twisting of state govts to supplement logic presented in these propaganda videos which offer no concrete solutions since they don’t discuss the problems just subsidy catchphrase.
@bhabanibehera5737
@bhabanibehera5737 4 дня назад
Take more funds ...give more freebies ..make the country go backward for atleast 10 years...No funds should be granted until punjab govt changes it's policies from freebies to developmental policies...
@siddharthgoyal4008
@siddharthgoyal4008 4 дня назад
How will trade with central Asia happen through punjab? You will need to cross Pakistan AND Afghanistan. No one will trade through those two
@nikhilgarg2870
@nikhilgarg2870 4 дня назад
@@siddharthgoyal4008 there's a belt and road initiative if you might remember most of which is connected via PAK and central asian countries are members of. Pak itself is a big consumer of agro stuff which Punjab produces in abundance. Even Europe trades with Russia through backdoor channels, Pak is lot less volatile as a passage which will make Pak also dependent/less hostile to India.
@krev1986
@krev1986 5 дней назад
How abt india as a whole
@qwertyca
@qwertyca 5 дней назад
The central govt is reducing the deficit each year. They are being way more fiscally prudent.
@abhinashkumar3161
@abhinashkumar3161 5 дней назад
Even in election year govt remain disciplined in spending .
@krev1986
@krev1986 4 дня назад
Really, How much tax are you paying 🤔😉 To maintain that, Read economics Analyse data, Every govt is there to fk middle class
@hindurashtra63
@hindurashtra63 3 дня назад
Freebie Vs Revenue-Generative Model : -> In Karnaraka, Congres led Freebie Bus Scheme led to Increase of Bus Ticket prices and Loss of 60,000 Crores of Bus Revenue, Because no money left to run Buses. -> In Maharashtra, BJP led Govt has recently collected 47,000 Crores from Bus Revenue. This is the highesr in 20 years and now they are lookin to invest this money for more facilities. This reality of Freebie Model Vs Revenue-Generative Model.
@xxyz2023
@xxyz2023 5 дней назад
India's state budget deficit is alarming, yet the govt in Maharashtra is providing massive freebies. Why talking about only non-ruling party States? Union govt is giving freebie lower taxes to wealthy corporations while criticizing State support for the poor & farmers. This becomes self-evident in loan interest rates, with corporations paying 5-7% while farmers pay 11%. Meanwhile, the government has halved corporate tax in 10 years. Home loans or Education loans are 8% to 10%. Powerful industrialists like Company 'A' exert significant influence over the govt for favour which are type of freebies. The trickle-down economics approach has failed, in both US & in India, it only makes the super rich even richer & the majority become beggars. Govt backed industrialist like Company 'A' have created fewer jobs, instead transferred money to shell companies abroad. The transition away from agricultural employment has witnessed a reversal (since 2019) since private sector is not investing or hiring due to low demand (as people have no money due to high gst taxes & note ban). A rigid union govt in any country, allows politicians to maintain power despite failures, & allows organized corruption to grow from within the system. Meanwhile, poorest & middle-class of India pay 64% & 33% of total gst, while industrialists pay 3% of gst, oxfam. The union govt seems reluctant to investigate banking & regulatory corruption, particularly regarding Company A, which received a massive loan from Sbi & has been involved in loan write-offs (freebies). Sbi underwrites the entire loan of 12,770 crores of Company A. The 2 Companies, closest to this govt, have itself received massive write-offs for their loans. The no of cases of wilful defaulters of loans have peaked 1.6 times from 2014 to 2023. Punjab bank loan to Company A = 70 billion. Banks have written off 10,09,511 crores loans in 5 years. Middle-class entrepreneurs are true drivers of job growth & wages; & boost per capita income of a nation; which directly depend on Union govt's economic policies & increased education budget for States. Education is a state subject, so why are UP's govt schools failing? UP gets Rs. 4 from central govt. in return for every Rs. 1 it gives in taxes. Whereas, for every Rs. 1, Tamil Nadu gets 30 paisa, Kerala gets back 20 paisa, Karnataka gets 13 paisa back. Despite this, Kerala, Tamil Nadu & Karnataka have far more educated youth through govt schools than UP, why? 26,100 govt schools have closed in UP as per Indian Govt's United District Information System for Education UDISE. The PM's Skill India mission, launched in 2015, delivered lacklustre results. Its flagship programme, the Pradhan Mantri Kaushal Vikas Yojana, is largely deemed to be a failure, with dismal placement rates of 18.4% for version 1.0, 23.4% & just 10.1% for version 2.0 & 3.0, respectively. Education budget: 2024 : 2.5% 2022 : 2.64% 2021 : 2.64% 2020 : 3% 2019 : 3.4% 2018 : 3.48% 2017 : 3.7% 2016 : 3.65% 2015 : 3.88% 2014 : 3.8% 2013 : 4.77% 2012 : 4.97% 2011 : 5% 2010 : 4.5%
@bhabanibehera5737
@bhabanibehera5737 4 дня назад
Are govt of maharashtra in debt huh? No body telling them to stop freebies but u have to generate profit...a state in continuous loss will be detrimental to country's growth...
@xxyz2023
@xxyz2023 4 дня назад
@@bhabanibehera5737 The next govt will have to pay this debt actually.
@Juicecontrolledmedia
@Juicecontrolledmedia 5 дней назад
Not gonna lie, this was a hitjob by these two. Choosing opposition states huh? GST and BJP using Cess and surcharge is killing State finances. Ofcourse hilly states will need assistance, but this was one sided.
@Victor-y9g1w
@Victor-y9g1w 5 дней назад
wb, karnataka?
@manasgupta7497
@manasgupta7497 5 дней назад
Choosing states which can't pay salary and pension to govt employees, and asking centre to bail them out. Opposition states are worst hit by Khata-Khat policies of Pappu and Kejriwal.
@noneoftheabove666
@noneoftheabove666 5 дней назад
They chose those states because their condition is the worst among all the Indian states. Poora duniya ka thodi discuss karenge in half an hour
@Victor-y9g1w
@Victor-y9g1w 5 дней назад
@@manasgupta7497 you should pay money to these people fatafat
@xxyz2023
@xxyz2023 4 дня назад
​@@Victor-y9g1wKarnataka creates 5 times more per capita income than U.P & counts for 8% of India's Gdp.
@kevindsz
@kevindsz 2 дня назад
All politicians that promise such irresponsible things should be arrested and never allowed to run again
@deadskinrippers
@deadskinrippers 14 часов назад
Karanataka freebies??
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