This is good! But, there is still a massive over-reliance on service industry to keep our current account balance in check. In future, there will be a time where US will put tariffs on our service industry just like they did with Russia and boom - that's our entire economy ruined! Even though services is doing well, we should continue our focus in manufacturing
Not to mention the way they are just printing money. They have used sanctions like some way of bullying countries to bend to their will. Our geo politic game is also top notch now. We will slowly shift and make a huge shift into manufacturing and reduce this service sector overreliance. There is now a huge young population driven with entrepreneurial spirit that are being given the incentives to build big business which their previous generations never got. The country is becoming stronger economically and the next 5 years if conflicts rise worldwide maybe we might be in a position to get INR a world currency status , the way we have been maintaining friendly relations with all the countries except for maybe China.
People with knowledge wouldn't make that connection ; it's people like you who do it . Obviously you don't know what the constitution is about nor the economy.
Not essentially our rupee has to strengthen our people has to earn more then inflation and our currency depreciation should be less then inflation. there should be economic growth
For the first time after Vajpayee government we have attained Currentr Account Surplus, discounting Cov aberation.... 10yrs of Khangress gov sent over economy into banking, fiscal crisis and fragrility... Karnataka government is now facing fiscal issue.. Hope people have the sense to not vote Khangress.
After 10 years , banking sector is in a mess and nationalized banks have now been amalgamated to cover serious issues chiefly NPAs to cronies and oligarchs.
@@xcel5203 PappuChimpu... WB and IMF disagree with you completely. Indian banks are now globally competitive are now becoming some of the biggest banks in the world with low amount of NPAs
@@cgtim3230 Look who's the Mitron papu - read the news . Delhi Airport collapsed because of current account surplus - how many years of corruption ? Train accidents , roads flooded ,airports collapsing, what next . Let's see what World Bank and IMF have to say . Fiscal fragility !
@@cgtim3230 Mitron ,Delhi airport collapsed due to corrupt Current Account surplus . Roads flooded , train accidents . What does World Bank and IMF have to say ? Mitron wake up and smell the fragrance of 10 years of fantastic governance.
@@xcel52031. PappuChimpuLearn meaning of Current Account Surplus first.. It means more money is coming into the country than leaving. It's a very good thing for the country. It's something great economist Maunmohan couldn't achieve during UPA but was there in Vajpayee gov. 2. Delhi airport Terminal 1 inaugurate by Karupt Khangress in 2009 so feel to place responsibility where in belongs. Airport flooded during UPA more. In 2014 we only have 70 airports, Today we have 140 airports. Modi built more airports in 10 years than Khangress did in 60yrs. 3. RailAccidents have massively reduced after Modi government came to power. Modi government is the first to implement any safety measures in Indian railway. Kavach Anti-Collision system already installed on 1000kms and 100 Trains, with 10,000Kms more tender already being issued. Vande Bharat is the first train in Indian railways with proper fire management systems. 4. IMF, World Bank, Morgan Stanley, JP Morgan etc. say India is in fiscally stable position. In fact Indian government bonds have been included in investment grade index by JP Morgan for the very first time since 1947.
What about the weakening currency ? How long has it been going on and who should take the credit ? Were you aware that it negatively impacts imports and results in CA deficit ?
Currency weakening is also good for exports! It makes you more competitive in the global markets. It’s a double edged sword! Hence policy stability and reform is what takes the economy a long way ahead!!
@@_rohit97 India imports $100 billion from China and exports 19 billion ; so do the maths . How much does a ultra-weak currency help? Just another glib talk by the politicians.
The last time this happened in the normal course of events was when vajpayee achieved it but then dear old manmohan and Chidambaram squandered it all. India has escaped disaster by a whisker during this election. I hope modi can overturn this nonsensical thinking about current account surpluses and keep at it - indians need a strong currency so that fuel and fertilizer can be inexpensive for the masses including the great numbers of farmers.
How do you do that when you have been selling all the sovereign jewels to your crony friends and oligarchs? Where are the farmers and ordinary citizens' concerns when Russian oil is monopolized by Ambani and sold to third parties in Europe . Airports and seaports sold to Adani . Big deal ! Ignorant people like you should check how the rates of electricity, airports etc have been jacked up after these oligarchs have managed to monopolize entire sectors . And which minister is really qualified to make these decisions ? Smriti I ?
What a red letter day , services exports saved India, a big addition to goods , that too due to the growth of captive global GCC companies spestablishing themselves in India , not just contributions from Indian software companies like TCS ,Infosys
This could be just another part of the govt's narrative that India's GDP rating is increasing . It is a truism that a current account surplus may indicate that imports have decreased due to a recession in the country while the opposite is also true regarding CA deficit .
Useful discussion but please chop the hypocrisy of "We 3 women" when you keep talking about DEI! The same statement by a man would have ruffled the feathers of these very 'equality' driven women! Focus on the discussion and not on the gender. Grow up!
