Covid "Act Of God", We May See Economy Contract: India Finance Minister, Nirmala Sitharaman

[Varun]

Dont hold your breath. The bald idiot is coming back. You are talking about a BIMARU state afterall (even though its my state).

Apparently, I heard that if Amit Shah doesnt recover, then Yogi will become Modi's no.2? Especially, if he loses in UP.

That's a truly scary thought.

Amit Shah has already recovered - he exited AIIMS yesterday. And even that was for 'post-Covid care'.

It's just a matter of time before Bisht is elevated to be a PM candidate anyway. Though on what plank, I don't know. Like him or hate him - at least Modi had a track record of sorts in Gujarat, what does Bisht have?

 

[Sidilicious]

Amit Shah has already recovered - he exited AIIMS yesterday. And even that was for 'post-Covid care'.

It's just a matter of time before Bisht is elevated to be a PM candidate anyway. Though on what plank, I don't know. Like him or hate him - at least Modi had a track record of sorts in Gujarat, what does Bisht have?

Wasnt there something about Amit Shah also undergoing Chemo for cancer?

I thought we had hit rock bottom with Modi's second win. If Yogi becomes the PM, then we might as well say goodbye to whatever hope I had left.

 

[CricketCartoons]

Wasnt there something about Amit Shah also undergoing Chemo for cancer?

I thought we had hit rock bottom with Modi's second win. If Yogi becomes the PM, then we might as well say goodbye to whatever hope I had left.

Yogi Ji should never become the PM. He is more useful at a lower level. Once you become the PM and visible internationally, you have to act like a statesman.

 

[MP2011]

.

 

[JaDed]

The Business Today stats are incorrect... this was misleading information from them for the graph.

 

[JaDed]

https://in.finance.yahoo.com/news/sure-do-criticise-the-modi-govt-but-do-it-with-facts-and-truth-121844977.html

 

[Slog]

https://in.finance.yahoo.com/news/sure-do-criticise-the-modi-govt-but-do-it-with-facts-and-truth-121844977.html

So even in the corrected one indja is posting second worst numbers?

 

[JaDed]

So even in the corrected one indja is posting second worst numbers?

Yes.. which is what my original post was... the way this pic got shared creates mistrust..

 

[MP2011]

 

[MP2011]

lol, that was the time. Now the shoe is on the other foot.

 

[Varun]

View attachment 103089

I doubt he knows enough English to write this himself. Either way, can he just shut up and do some actual work as the PM of the country?

Nobody is holding their breath though.

 

[MP2011]

Either way, can he just shut up and do some actual work as the PM of the country?

No, its far more important to make toys in India and adopting canines.

 

[Rajdeep]

- What they want to show you :

Japan: -7.6℅
US: -9.5%
Canada: -12%
France: -13.8%
UK: -20.4%
India: -23.9%

- What they are Hiding :

France: -14%
UK: -21%,
India: -23.9%
Japan: -27.8%
US: -33%
Canada: -38.7%
Singapore: -42.9%

Beware Of FAKE Journalism.


US GDP dropped 33%
US GDP plunged by a record 33% annual rate in the 2nd quarter as coronavirus lockdowns raged

https://www.businessinsider.com/us-...s-pandemic-recession-lockdowns-economy-2020-7


Japan's second quarter GDP shrinks at record 27.8% amid pandemic

https://www.japantimes.co.jp/news/2...usiness/japan-gdp-shrinks-record-coronavirus/


French GDP dropped at the fastest rate in history, contracting 14% in the second quarter - the latest European economy to reveal its pandemic pain

https://markets.businessinsider.com...c-14-reflecting-slow-growth-2020-7-1029454504


Canadian GDP plunges record 38.7% in second quarter

https://financialpost.com/news/econ...nomy-posted-record-drop-in-q2-due-to-pandemic


Singapore’s Economy Contracted by 42.9% in the Q2

https://www.wibestbroker.com/singapores-economy-contracted-by-42-9-in-the-q2/


UK enters recession after GDP plunged by a record 20.4% in the second quarter

https://www.cnbc.com/2020/08/12/uk-...rd-20point4percent-in-the-second-quarter.html


Again I am reminding everyone with folded hands that anything comes out from an Indian liberals should be taken with a pinch of salt. They are so much submerged with vandetta and fake narrative that its hard to take them seriously. Please do your own research before coming to any conclusions.

And Tihar jailed criminals like P.Chidambaram is giving sermons to others tells you the exact story.

These are trying times. No one would have saved the economy, no matter who so ever held the FM position. Nirmala Sitharaman has handled the unprecedented mega crisis with utmost sincerity, understanding and empathy and the plans to recover the economy are being implemented vigriously, so it's just matter of few months that we will see our economy is bouncing back. People who are demanding for Nirmala Sitharaman's head are being highly insensitive and their demand is completely out of place and sounds stupid.

In India....Sab changa si :

 

[Varun]

These are trying times. No one would have saved the economy, no matter who so ever held the FM position. Nirmala Sitharaman has handled the unprecedented mega crisis with utmost sincerity, understanding and empathy and the plans to recover the economy are being implemented vigriously, so it's just matter of few months that we will see our economy is bouncing back. People who are demanding for Nirmala Sitharaman's head are being highly insensitive and their demand is completely out of place and sounds stupid.

Ah yes, Nirmala Tai the knight in shining armour.

Should be made to ride around Raisina Hill in an Ola Mini with onions lining the seats and God at the steering wheel smoking an e-cigarette.

The speedometer will be flashing -23.8 kph.

 

[MenInG]

India's economic woes may have only just begun
Nikhil Inamdar

India Business Correspondent

India's economy contracted by 23.9% in the three months to the end of June, making it the worst slump since 1996. A grinding lockdown brought on by the coronavirus pandemic has disrupted business and left millions out of jobs.

For the last five months, since India imposed one of the world's strictest lockdowns, Aditi Limaye Kamat's restaurant business has been bleeding money. Her four popular eateries occupy prime real estate space across Dadar, an expensive neighbourhood in Mumbai, the country's financial capital.

"Only deliveries are being permitted. And that's not helping very much. It amounts to merely 10 to 15% of our overall business in normal circumstances and doesn't even cover salary as well as running costs," Ms Kamat says.

She wants the government to permit in-restaurant dining at the earliest with strict social distancing guidelines like in other parts of the world. "If not, many of us will be out of business by January," she adds.

India today reported a daily increase of more than 78,000 new coronavirus cases. It brings the country's total confirmed cases to nearly 3.8 million.

Read more

https://www.bbc.com/news/world-asia-india-53981830

 

[Rajdeep]

Ah yes, Nirmala Tai the knight in shining armour.

Should be made to ride around Raisina Hill in an Ola Mini with onions lining the seats and God at the steering wheel smoking an e-cigarette.

The speedometer will be flashing -23.8 kph.

Not sure if I follow and I must confess its not the first time you are not making much sense.

My post clearly highlight (along with proper source) the economic disaster and GDP shrinks in most leading countries around the world. Its the effect of Covid and time we are leaving in. Its wrong to single out Nirmala Sitaraman alone.

But instead of countering my post logically, you are writing stuffs which I have no clue. Perhaps time to make sensible post once for a change?

 

[MP2011]

Ah yes, Nirmala Tai the knight in shining armour.

Should be made to ride around Raisina Hill in an Ola Mini with onions lining the seats and God at the steering wheel smoking an e-cigarette.

The speedometer will be flashing -23.8 kph.

Bhakts will be bhakts, futile to engage with them. Their IQ is too low to think rationally that India is what matters and not their fake god.

 

[Varun]

Not sure if I follow and I must confess its not the first time you are not making much sense.

My post clearly highlight (along with proper source) the economic disaster and GDP shrinks in most leading countries around the world. Its the effect of Covid and time we are leaving in. Its wrong to single out Nirmala Sitaraman alone.

But instead of countering my post logically, you are writing stuffs which I have no clue. Perhaps time to make sensible post once for a change?

Perhaps this meme will refresh your memory about dear old Nirmala Tai while providing context about my post:

 

[CricketCartoons]

Perhaps this meme will refresh your memory about dear old Nirmala Tai while providing context about my post:

How much of the GST compensation is because of lack of revenue due to covid (center should not pay for this) and how much is because of moving from earlier system to GST (for this the center must pay)?

 

[Rajdeep]

Perhaps this meme will refresh your memory about dear old Nirmala Tai while providing context about my post:

None of it explains the larger point I was making regarding shrinking GDP across all countries due to Covid 19. And why all the hoopla in this thread singling out India is unwarranted. But its okay, I am used to such responses from liberals.

With these kind of abaurd logic and counter arguement, one wonders why BJP keeps on winning elections. Carry on mate.

 

[Varun]

None of it explains the larger point I was making regarding shrinking GDP across all countries due to Covid 19. And why all the hoopla in this thread singling out India is unwarranted. But its okay, I am used to such responses from liberals.

Perhaps it has something to do with the fact that we live in India and not Croatia, Laos or Tuvalu.

And without even checking, I'm sure we're doing worse than all three of them.

 

[MP2011]

https://www.indiatoday.in/india/sto...-data-along-expected-lines-1717140-2020-08-31

After sharpest GDP fall, chief economic advisor Subramanian says India witnessing V-shaped recovery.

Another clown of this establishment.

 

[OldWarHorse]

- What they want to show you :

Japan: -7.6℅
US: -9.5%
Canada: -12%
France: -13.8%
UK: -20.4%
India: -23.9%

- What they are Hiding :

France: -14%
UK: -21%,
India: -23.9%
Japan: -27.8%
US: -33%
Canada: -38.7%
Singapore: -42.9%

Beware Of FAKE Journalism.


US GDP dropped 33%
US GDP plunged by a record 33% annual rate in the 2nd quarter as coronavirus lockdowns raged

https://www.businessinsider.com/us-...s-pandemic-recession-lockdowns-economy-2020-7


Japan's second quarter GDP shrinks at record 27.8% amid pandemic

https://www.japantimes.co.jp/news/2...usiness/japan-gdp-shrinks-record-coronavirus/


French GDP dropped at the fastest rate in history, contracting 14% in the second quarter - the latest European economy to reveal its pandemic pain

https://markets.businessinsider.com...c-14-reflecting-slow-growth-2020-7-1029454504


Canadian GDP plunges record 38.7% in second quarter

https://financialpost.com/news/econ...nomy-posted-record-drop-in-q2-due-to-pandemic


Singapore’s Economy Contracted by 42.9% in the Q2

https://www.wibestbroker.com/singapores-economy-contracted-by-42-9-in-the-q2/


UK enters recession after GDP plunged by a record 20.4% in the second quarter

https://www.cnbc.com/2020/08/12/uk-...rd-20point4percent-in-the-second-quarter.html


Again I am reminding everyone with folded hands that anything comes out from an Indian liberals should be taken with a pinch of salt. They are so much submerged with vandetta and fake narrative that its hard to take them seriously. Please do your own research before coming to any conclusions.

And Tihar jailed criminals like P.Chidambaram is giving sermons to others tells you the exact story.

These are trying times. No one would have saved the economy, no matter who so ever held the FM position. Nirmala Sitharaman has handled the unprecedented mega crisis with utmost sincerity, understanding and empathy and the plans to recover the economy are being implemented vigriously, so it's just matter of few months that we will see our economy is bouncing back. People who are demanding for Nirmala Sitharaman's head are being highly insensitive and their demand is completely out of place and sounds stupid.

In India....Sab changa si :

Arent the US, Canada, Japan, Singapore ones annualized? Why are you comparing them with this single quarter fall of ours?

 

[Rajdeep]

Perhaps it has something to do with the fact that we live in India and not Croatia, Laos or Tuvalu.

And without even checking, I'm sure we're doing worse than all three of them.

And there lies the problem. Liberals never do fact check and in this instance they dont even read the posts properly before responding. Croatia, Laos or Tuvalu is not on my post...so perhaps read again?

 

[CricketCartoons]

Arent the US, Canada, Japan, Singapore ones annualized? Why are you comparing them with this single quarter fall of ours?

What is the point of annualizing. It makes sense only during stable times where you can expect rest of the year to follow the quarter, doesn't make sense during covid.

 

[OldWarHorse]

What is the point of annualizing. It makes sense only during stable times where you can expect rest of the year to follow the quarter, doesn't make sense during covid.

Yeah practically speaking it doesnt make sense but you never know how long this may last though, so the same standards as usual may be followed. Anyway these values will be revised in the coming quarters once things change.

 

[smkk]

- What they want to show you :

Japan: -7.6℅
US: -9.5%
Canada: -12%
France: -13.8%
UK: -20.4%
India: -23.9%

- What they are Hiding :

France: -14%
UK: -21%,
India: -23.9%
Japan: -27.8%
US: -33%
Canada: -38.7%
Singapore: -42.9%

Beware Of FAKE Journalism.
Again I am reminding everyone with folded hands that anything comes out from an Indian liberals should be taken with a pinch of salt. They are so much submerged with vandetta and fake narrative that its hard to take them seriously. Please do your own research before coming to any conclusions.

And Tihar jailed criminals like P.Chidambaram is giving sermons to others tells you the exact story.

These are trying times. No one would have saved the economy, no matter who so ever held the FM position. Nirmala Sitharaman has handled the unprecedented mega crisis with utmost sincerity, understanding and empathy and the plans to recover the economy are being implemented vigriously, so it's just matter of few months that we will see our economy is bouncing back. People who are demanding for Nirmala Sitharaman's head are being highly insensitive and their demand is completely out of place and sounds stupid.

In India....Sab changa si :

By only blaming the liberals, you cannot justify the economy of BJP. The fact is India is the worst performing major economy in the world, and it is not only due to COVID-19 but also incompetence of BJP. These 2 videos below explain this nicely with facts and statistics. If possible do refute the points that had been raised in these videos.

https://www.youtube.com/watch?v=otu95zL7S3k

https://www.youtube.com/watch?v=dFnnuDlTg8k

 

[Slog]

Arent the US, Canada, Japan, Singapore ones annualized? Why are you comparing them with this single quarter fall of ours?

Lol yea he’s accusing others of fake news and giving half story and he himself is giving a Mumbo jumbo of number and comparing apples and oranges

 

[Abdullah719]

World Bank says India’s GDP will contract by 9.6%, country’s situation exceptional, dire

The World Bank has said India’s GDP is expected to further contract by 9.6% this fiscal as a reflection of the economic slump the country has suffered due to the national lockdown induced by the coronavirus pandemic.

The World Bank on Thursday said that the nationwide lockdown and the stoppage put on income household as well as industries’ income due to the coronavirus pandemic has rendered the Indian economy in a situation worse than ever before.

World Bank, the Washington-based global lender, in its latest South Asia Economic Focus report ahead of the annual meeting of the World Bank and International Monetary Fund, forecasts a sharper than expected economic slump across the region. The bank has said regional growth is expected to contract by 7.7% in 2020.

“India’s GDP is expected to contract by 9.6% in the fiscal year that started in March,” the World Bank said on Thursday. Regional growth is projected to rebound to 4.5% in 2021, it said.

Factoring in population growth, however, income-per-capita in the region will remain 6% below 2019 estimates, indicating that the expected rebound will not offset the lasting economic damage caused by the pandemic, said the World Bank.

“The situation is much worse in India than we have ever seen before,” Hans Timmer, World Bank Chief Economist for South Asia told reporters during a conference call.

“It is an exceptional situation in India. A very dire outlook,” he said.

There was a 25% decline in GDP in the second quarter of the year, which is the first quarter of the current fiscal year in India.

In the report, the World Bank said that the spread of the coronavirus and containment measures have severely disrupted supply and demand conditions in India.

With the intent to contain the spread of Covid-19, Prime Minister Narendra Modi, with effect from March 25, announced a nationwide complete lockdown that brought as much as 70% of economic activity, investment, exports, and discretionary consumption to a standstill. Only essential goods and services such as agriculture, mining, utility services, some financial and IT services and public services were allowed to operate.

https://www.indiatoday.in/business/...-by-9-6-percent-world-bank-1729629-2020-10-08

 

[MP2011]

“The situation is much worse in India than we have ever seen before,” Hans Timmer, World Bank Chief Economist for South Asia told reporters during a conference call.

“It is an exceptional situation in India. A very dire outlook,” he said.

None of this will bother 56". He is busy in preparing for elections in Bihar and by-elections in MP.