Is India Broke?

[OldWarHorse]

So lets assume SII is license manufacturer of Oxford vaccine. Are you telling me that the money made from sale of this vaccine would be part of Indian economy?

SII pays royalty to AZ. Something to the tune of 50% (not confirmed). The rest yes goes into their pocket. And they are going to make tons of money.

 

[Civil]

It's a dire situation for our neighbours, we should not use the suffering of poor Indians. or the failings of their infrastructure to take a dig at folks on forums.

I know in the cyber world we have seen so many Indians say horrible things about us, but let's not stoop to those levels. Take relief that our life never got so bad that we had to stoop as low as those internet Indians do.

We must seperate those commenting 24/7 on forums from those who have actually been harmed by this pandemic. Reading about orphans that people will not touch out of fear of being infected etc.. Those children need our prayers/focus now, no use mocking on fiscal budgets, forex reserves etc.

 

[Ahmad-GERMANFC]

Neither is Pakistan providing any help nor was anything asked of them.

Not true. Ask your Punjab CM

 

[King-Misbah]

They are broke, UK sending them aid even today. There is nothing wrong in accepting aid when you need it. Issue is the transparency and accountability involved. There is total black out of Indian media.

 

[Bi_Jamalo]

SII pays royalty to AZ. Something to the tune of 50% (not confirmed). The rest yes goes into their pocket. And they are going to make tons of money.

Haan Mazdoori ka paisa tou milta ha. Nothing wrong with providing cheap labour, something which India is known for.

 

[OldWarHorse]

Haan Mazdoori ka paisa tou milta ha. Nothing wrong with providing cheap labour, something which India is known for.

Meh..who cares. If they end up with 50% of sales for every vaccine sold then they are doing extremely well for themselves. They are slated to earn in Billions USD by 2022 just for this vaccine. I mean such amount for mere mazdoori might just be what Marx was championing about.

 

[Itachi]

Haan Mazdoori ka paisa tou milta ha. Nothing wrong with providing cheap labour, something which India is known for.

Not everyone borns with a silver spoon in their mouth.

There are rich kids like you who looks down upon labor class.

And there is us who tries to feed family with our labor.

 

[El Generico]

Not true. Ask your Punjab CM

Maybe he doesn’t consider Punjab to be a part of India? Could be a Khalistan supporter.

 

[MenInG]

New Delhi: Swift clearing and apportioning of global aid has strengthened tertiary medical care across states and union territories for COVID-19 management, the Centre said on Wednesday. The government said that 9,284 oxygen concentrators, 7,033 oxygen cylinders, 19 oxygen generation plants, 5,933 ventilators/BiPAPs, and 3.44 lakh Remdesivir vials have been delivered to all states and UTs so far.

The Railways has also transported nearly 6,260 tonnes of liquid medical oxygen (LMO) on 100 'Oxygen Express' trains since April 19 when it started its first such service. The Railways delivered 800 tonnes of LMO to the nation on Tuesday, it said.

"One hundred Oxygen Expresses have completed their journey so far and brought relief to various states. It is the Indian Railways' endeavour to deliver as much LMO as possible in the shortest time possible to the requesting states. So far, nearly 6,260 tonnes of LMO has been delivered in 396 tankers," the statement said.

As of today, 407 tonnes of oxygen has been offloaded in Maharashtra, nearly 1,680 tonnes in Uttar Pradesh, 360 tonnes in Madhya Pradesh, 939 tonnes in Haryana, 123 tonnes in Telangana, 40 tonnes in Rajasthan, 120 tonnes in Karnataka, and more than 2,404 tonnes in Delhi, it said.

"The first Oxygen Express train to Uttarakhand with 120 tonnes of the life-saving gas from Tatanagar in Jharkhand and the first such train to Pune carrying more than 50 tonnes of oxygen from Angul in Odisha reached their destinations on Tuesday night," the statement said.

Tonight onwards, more loaded Oxygen Express trains are expected to start their journeys on Wednesday night, it said.

https://www.timesnownews.com/india/...ates-and-uts-amid-covid-19-second-wave/756197

 

[KingKhanWC]

^ Good to read the world is helping India.

Hopefully they will learn to spend less on their guns and missiles & instead spend it on hospitals with equipment.

 

[irfan]

Vitalik Buterin, the creator of crypto Ethereum has donated $1 billion worth of the crypto coin SHIB to the India Covid Relief Fund.

 

[cricketjoshila]

Not true. Ask your Punjab CM

Ask what? No help was taken from Pakistan.

 

[Ahmad-GERMANFC]

Ask what? No help was taken from Pakistan.

He asked for help from Pakistan but Indian central govt rejected request.

But india got chanda from elsewhere so no worries

 

[Bi_Jamalo]

Serum Institute is valued at close to $13 billion. If they are mazdoors. I wonder what are pakistanis and their companies.

Not sure where are you coming up with the numbers but at the end of the day its just a 3rd party manufacturing facility for a 2nd rate Astra Zeneca vaccine. Good that they are able to provide “affordable” medicine in the time of need.

In the Pharma industry cheap contract manufacturers are dime a dozen. Hence-why generic medicine is so cheap. Serum institute is just one of many such budget Manufacturing service providers.


.

 

[Bi_Jamalo]

Also if either Serum Institute or India’s own Covaxin production was capable of much, it wouldn’t have come to such a dire & horrendous situation like this:

https://www.nbcnews.com/news/world/...nges-india-s-covid-death-toll-passes-n1267059

This genuinely is a bit upsetting for me to see because my own family roots are in U.P, where all this is happening. May god help the poor people there.

 

[Zaz]

Ask what? No help was taken from Pakistan.

You need to get off your high horse and get real You wont become less of nation by facing reality and accepting help

Look at the plight of the avge joe suffocating to death on the streets whilst being turned away from hospitals due to lack of oxygen and beds

Today i hear dead bodies are being thrown in the ganges because theres no space or money for families to give them a decent send off funeral

Your health system has totally collapsed and the iron man has done a runner

And here you are showing bravado whilst your countrymen need any help they can get

Get off your silly high horse Nows not the time for this silly upmanship

 

[Civil]

Also if either Serum Institute or India’s own Covaxin production was capable of much, it wouldn’t have come to such a dire & horrendous situation like this:

https://www.nbcnews.com/news/world/...nges-india-s-covid-death-toll-passes-n1267059

This genuinely is a bit upsetting for me to see because my own family roots are in U.P, where all this is happening. May god help the poor people there.

Very upsetting indeed brother. The thought of your loved one tossed into a river like this is just disturbing. It's like a wartime scenario.

May God have mercy on these poor souls

 

[OMB]

Is India Broke?
sharing some post received (unverified but not to worry as it doesn't harm anyone)


A beautiful story of leadership..

India was on the verge of getting bankrupt in 1991.

The then Congress Prime Minister Narsimha Rao called Finance Minister Manmohan Singh and asked how much money is there in the treasury.

Manmohan Singh said, very little to enable us to run the country for about 09 days only.

Narasimha Rao got tensed and asked how to deal with this situation?

Manmohan Singh said that the value of the country's rupee should have to fall by 20%.

Narasimha ji said, okay call the cabinet meeting and we will seek approval.

To which Manmohan ji said, if we arrange cabinet meeting, we will not be able to take these tough decisions. All ministers will address the vote bank and won't agree to it. So as the PM, you have to take this critical decision.

Narasimha ji paused for a while, and asked Manmohan ji to leave. Manmohan ji went to his office. After about 20 minutes, the PM's secretary went to Manmohan ji and handed over a letter. In that letter Narasimha Rao Ji had written, "Done"!

Manmohan ji got surprised, how could the PM gather the courage to say 'YES' even without getting nod of cabinet ministers?

That could upset many top leaders of Congress.

He rushed to PM's office again and asked what happened within these 20 minutes that led you to say YES?

Narasimha ji said, it was quite easy. I just spoke to the opposition leader, Atal Bihari Bajpai ji, and he said YES.

Manmohan ji asked, does that mean you look at Atal ji more than your own cabinet?

Narasimha ji had said, I know he is the only person who will speak in the interest of the country.

It happens that after the announcement of this drastic decision to firefight bankruptcy, the Atal ji led opposition team never organized a protest movement, but supported the government to bring the country's economy back on track.

Today we must bring back such constructive politics of grace.

The wisdom of Rao ji and the patriotism of Atal ji.

Remember ... NATION is above any RELIGION and any POLITICAL PARTY

 

[globalcitizen]

Not long ago india was giving free vaccines to many countries. That's not the definition of being broke. Everyone will return favour. India has made more friends after that.
These are unprecedented times and absolutely no country was prepared for a pandemic.
Coming to donations I don't see any problem in accepting them.

 

[Ahmad-GERMANFC]

Not long ago india was giving free vaccines to many countries. That's not the definition of being broke. Everyone will return favour. India has made more friends after that.
These are unprecedented times and absolutely no country was prepared for a pandemic.
Coming to donations I don't see any problem in accepting them.

India was not giving free vaccines. Those vaccines were paid for

 

[Bi_Jamalo]

India was not giving free vaccines. Those vaccines were paid for

Yeah that’s another surprise announcement by our Indian friends here. I am also curious to know that who exactly were they giving ‘which’ vaccine and in what qty?

It’s difficult for the “Tees maar khan” type indians to see their ego hurt by the ground realities in India. To them India was already miles ahead of US and Europe.

 

[cricketjoshila]

Not sure where are you coming up with the numbers but at the end of the day its just a 3rd party manufacturing facility for a 2nd rate Astra Zeneca vaccine. Good that they are able to provide “affordable” medicine in the time of need.

In the Pharma industry cheap contract manufacturers are dime a dozen. Hence-why generic medicine is so cheap. Serum institute is just one of many such budget Manufacturing service providers.


.

The numbers are public. A bit of googling wi help.

What you call a third rate manufacturing facility is the largest vaccine provider in the world, supplying EU, UK, Canada etc.

If SII like producers are dime a dozen, why are they not producing and providing vaccines. Why is 60 percent of the world's vaccine come out of India?

Why isn't pakistan producing vaccines? Except few doses of Sputnik, pakistan has to depend on poor quality Chinese products.

Pakistan is neither capable of doing this nor understanding it. Its called sour grapes.

 

[cricketjoshila]

India was not giving free vaccines. Those vaccines were paid for

Incorrect. Many countries received free vaccines. Some paid.

 

[cricketjoshila]

Yeah that’s another surprise announcement by our Indian friends here. I am also curious to know that who exactly were they giving ‘which’ vaccine and in what qty?

It’s difficult for the “Tees maar khan” type indians to see their ego hurt by the ground realities in India. To them India was already miles ahead of US and Europe.

60 million doses of covishield were exported from India, many free of cost.

 

[cricketjoshila]

Not long ago india was giving free vaccines to many countries. That's not the definition of being broke. Everyone will return favour. India has made more friends after that.
These are unprecedented times and absolutely no country was prepared for a pandemic.
Coming to donations I don't see any problem in accepting them.

Leaders like the US President has acknowledged that India helped. How does it matter if a few disgruntled pakistanis say otherwise?

 

[cricketjoshila]

You need to get off your high horse and get real You wont become less of nation by facing reality and accepting help

Look at the plight of the avge joe suffocating to death on the streets whilst being turned away from hospitals due to lack of oxygen and beds

Today i hear dead bodies are being thrown in the ganges because theres no space or money for families to give them a decent send off funeral

Your health system has totally collapsed and the iron man has done a runner

And here you are showing bravado whilst your countrymen need any help they can get

Get off your silly high horse Nows not the time for this silly upmanship

There are plenty of countries that India helped during the pandemic. They are helping India now. No help has been taken from Pakistan and pakistanis should be the last one to thump their chest.

 

[Zaz]

There are plenty of countries that India helped during the pandemic. They are helping India now. No help has been taken from Pakistan and pakistanis should be the last one to thump their chest.

And your proud of this? Willing to see dead countrymen rather than accept help?

Thats a sick mentality

 

[Bi_Jamalo]

The numbers are public. A bit of googling wi help.

What you call a third rate manufacturing facility is the largest vaccine provider in the world, supplying EU, UK, Canada etc.

If SII like producers are dime a dozen, why are they not producing and providing vaccines. Why is 60 percent of the world's vaccine come out of India?

Why isn't pakistan producing vaccines? Except few doses of Sputnik, pakistan has to depend on poor quality Chinese products.

Pakistan is neither capable of doing this nor understanding it. Its called sour grapes.

I said “3rd party” manufacturer and not 3rd rate. Though you may know better.

And its the Astra Zeneca’s vaccine, which is a sub-standard and 2nd quality vaccine because of comparatively low efficacy and blood clot issues. This is a commonly accepted fact and even in UK its not prescribed to people under certain age groups.

As for other countries not being able to keep up with india for Pharma production. Sorry you are wrong, India is not even in top 10:
https://www.worldstopexports.com/drugs-medicine-exports-country/

India is only getting the generic medicine manufacturing because of the low cost base and the availability of cheap labour but same can be said for other countries.

The one who has invested in the research & innovation and has the patent, is the one who got control and Power. Cheap labour is plentiful around the world. Next time turn up here with the list of Medicine that were actually invented in India.

 

[Bi_Jamalo]

There are plenty of countries that India helped during the pandemic. They are helping India now. No help has been taken from Pakistan and pakistanis should be the last one to thump their chest.

Provide facts with backing evidence that who did India provide, How much AstraZeneca covid vaccine for “Free”.

 

[Napa]

Canadians are spending thousands of dollars traveling to the US to get vaccinated, that makes the shadow price of the vaccine to some Canadians a few thousand dollars (when you include time spent, travel and lodging expenses). In contrast India charged next to nothing when it gave the vaccines to Canada.

https://www.reuters.com/business/he...ns-fly-south-shot-us-demand-falls-2021-05-05/

 

[MenInG]

New Delhi: The United States has provided over USD 500 million in COVID-19 relief supplies to India.

Dean Thompson, Acting Assistant Secretary, Bureau of South & Central Asian Affairs, said that the US government, state governments, US companies, and private citizens chipped in to help India tide over the crisis.

“We've redirected one of our orders of critical vaccine manufacturing supplies, which will allow India to make over 20 million additional doses of AstraZeneca COVID-19 vaccine,” he added.

'We are helping India significantly'
Last month, President Joe Biden has said that the US was doing a lot for India” by sending it oxygen and other materials to make anti-COVID-19 vaccines.

After speaking to Prime Minister Narendra Modi, Biden said the US is sending India a lot of the precursors required to d for making the vaccines.

India us ties'Confident India-US ties will continue to grow stronger under Biden administration': Blinken
He said the US was also sending oxygen, which is in short supply in the nation facing a COVID-19 resurgence.

We’re helping India significantly, he added.

The US also acknowledged assistance from India last year when the US was in deep crisis due to a surge in COVID-19 cases.

Jaishankar thanks US for 'strong support' at India's 'moment of great difficulty'

"India came to our assistance early on in our hour of need when we were having real struggles with COVID-19, providing millions and millions, for example, of protective masks. We remember that, and we're determined to do everything we can to help now," Blinken had said.

External Affairs Minister S Jaishankar on Friday held wide-ranging talks with his US counterpart Antony Blinken and thanked the Biden administration for its "strong support and solidarity" with India at a moment of "great difficulty" for the country in combating the deadly COVID-19 pandemic, reported PTI.

Meanwhile, Secretary Blinken said that the US and India working jointly on many important challenges of our time.

We are united in confronting COVID-19 together, he added.


https://www.timesnownews.com/india/...n-covid-19-relief-supplies-to-india-us/763298

 

[gazza619]

I feel sad for the people who could have been saved if India had accepted help from Pakistan. Sad, very very sad really. Modi and his chest thumpers are feeling proud of this achievement and for me all of them deserve a severe punishment.

 

[cricketjoshila]

I feel sad for the people who could have been saved if India had accepted help from Pakistan. Sad, very very sad really. Modi and his chest thumpers are feeling proud of this achievement and for me all of them are murderers who deserve a severe punishment.

What was Pakistan offering that other countries couldn't? Anything?

If we have the means to acquire what we need from other countries, why take it from Pakistan? So that you guys can open another thread like this?

 

[finalfantasy7]

What was Pakistan offering that other countries couldn't? Anything?

If we have the means to acquire what we need from other countries, why take it from Pakistan? So that you guys can open another thread like this?

oxygen what we offered you, mainly going to india punjaab, one of ur doctors even said it was a pathetic decision not to accept it, it has already been posted on this thread, at start of the second wave

 

[cricketjoshila]

oxygen what we offered you, mainly going to india punjaab, one of ur doctors even said it was a pathetic decision not to accept it, it has already been posted on this thread, at start of the second wave

Was oxygen not procured and supplied from other countries and other parts of India? Can oxygen be procured only from Pakistan?

 

[finalfantasy7]

Was oxygen not procured and supplied from other countries and other parts of India? Can oxygen be procured only from Pakistan?

again when did i say it cant ??? u going crazy again, clearly it would have been better for India to accept the oxygen from Pakistan as it would have arrived the next day - as that is the best way considering your low on it and people are dying in LARGE amounts.
People WOULD - YES WOULD HAVE BEEN SAVED - if ur pathetic government wasn't so inhumane

 

[finalfantasy7]

thr ego was above everything - here's the article again :

https://thewire.in/health/punjab-ox...OVID-19. India has not responded to the offer.

 

[finalfantasy7]

and another https://www.aljazeera.com/news/2021...ias-modi-refuses-to-seek-oxygen-from-pakistan

https://www.indiatoday.in/coronavir...inder-singh-s-letter-to-pm-1799215-2021-05-05

https://thetimesquarenews.com/2021/...-of-liquid-oxygen-despite-record-covid-cases/

https://www.fr24news.com/a/2021/05/...-modi-refuses-to-seek-oxygen-in-pakistan.html

https://www.brecorder.com/news/40091366

 

[cricketjoshila]

again when did i say it cant ??? u going crazy again, clearly it would have been better for India to accept the oxygen from Pakistan as it would have arrived the next day - as that is the best way considering your low on it and people are dying in LARGE amounts.
People WOULD - YES WOULD HAVE BEEN SAVED - if ur pathetic government wasn't so inhumane

It was not better to import stuff from a hostile country rather than a friendly country.

Indian government is a concern of Indians and what they did was absolutely right, by not allowing a hostile state to gain a foothold in the country in anyway.

Ohh and i sympathize with you that you didn't get any opportunity to open more threads like this. Pathetic of the Indian government to deny you guys that opportunity.


FYI, Oxygen from other parts of India also arrived and also some was airlifted.

 

[finalfantasy7]

It was not better to import stuff from a hostile country rather than a friendly country.

Indian government is a concern of Indians and what they did was absolutely right, by not allowing a hostile state to gain a foothold in the country in anyway.

Ohh and i sympathize with you that you didn't get any opportunity to open more threads like this. Pathetic of the Indian government to deny you guys that opportunity.


FYI, Oxygen from other parts of India also arrived and also some was airlifted.

Clearly u didn't read any of the articles, stating that it took longer for the oxygen to arrive for india- some cases 2 weeks, yet articles show the that it was needed immediately and from Pakistan was the best choice. But some how someone like u knows more than the head doc listed in article.

Show how clever India is

 

[gazza619]

Was oxygen not procured and supplied from other countries and other parts of India? Can oxygen be procured only from Pakistan?

Oxygen was needed instantly and time was running out for some patients. Getting it via Pakistani Punjab was the quickest option. But hey you didnt lost a loved one in the chest thumping process so I understand it doesnt matter to you. All matters to you is if even a Pakistani opens a thread if India had accepted help from Pakistan.

 

[IMMY69]

It was not better to import stuff from a hostile country rather than a friendly country.

Indian government is a concern of Indians and what they did was absolutely right, by not allowing a hostile state to gain a foothold in the country in anyway.

Ohh and i sympathize with you that you didn't get any opportunity to open more threads like this. Pathetic of the Indian government to deny you guys that opportunity.


FYI, Oxygen from other parts of India also arrived and also some was airlifted.

But I thought everything was being exaggerated by the western media?

 

[cricketjoshila]

Oxygen was needed instantly and time was running out for some patients. Getting it via Pakistani Punjab was the quickest option. But hey you didnt lost a loved one in the chest thumping process so I understand it doesnt matter to you. All matters to you is if even a Pakistani opens a thread if India had accepted help from Pakistan.

So getting from Pakistan was quicker than transporting from a neighbouring state or airlifted? All that matters was that India was able to solve its issues. India can solve its issues without taking help from Pakistan and thats good for us.

Sorry that we didn't give pakistanis a chest thumping opportunity.

 

[Bewal Express]

So getting from Pakistan was quicker than transporting from a neighbouring state or airlifted? All that matters was that India was able to solve its issues. India can solve its issues without taking help from Pakistan and thats good for us.

Sorry that we didn't give pakistanis a chest thumping opportunity.

Are you saying that If you or your family members were dying, you would have sacrificed yourself or the family members so that PKs couldn't get boasting rights. Or you happy to sacrifice other people's lives

 

[srh]

Kenya donates 12 tonnes of food products to India

https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

Kenya has donated 12 tonnes of food products to India as part of its COVID-19 relief efforts, a statement said on Friday. The east African country has sent 12 tonnes of tea, coffee and groundnut produced locally to the Indian Red Cross Society, it said adding that the packets will be distributed across Maharashtra with food aid.

"The Government of Kenya wishes to stand in solidarity with the people and Government of India during this time of the COVID-19 pandemic by donating consumable food stuffs," Willy Bett, high commissioner of the African country to to India, said.

Bett, who came to the financial capital from New Delhi to hand over the food articles, said the donation is directed to the frontline care givers who continue to work long hours to save lives.

Indian Red Cross Society Vice-Chairman (Maharashtra branch) Homi Khusrokhan said the donation symbolises the empathy that the people of Kenya have for the people of India and is re-assuring.

The global community has united to support India that has been affected by the ravages of the second wave of COVID-19.

Kenya's GDP is 70 billion USD while India's GDP is 3 trillion USD.

 

[Babu Bhaiya]

https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst



Kenya's GDP is 70 billion USD while India's GDP is 3 trillion USD.

India donated 1.8 million N95 masks to Philadelphia, USA.

Now I'm too lazy to compare India's and USA's GDP.

 

[Third_Umpire]

Posters here don't want India to take oxygen from Pakistan to avoid answering in a thread on this forum

Clear sign you're spending too much time on the internets.

 

[MP2011]

Are you saying that If you or your family members were dying, you would have sacrificed yourself or the family members so that PKs couldn't get boasting rights. Or you happy to sacrifice other people's lives

These blind devotees are worse than devils, they don't care for ordinary Indian's life. All they care about is how to make their god look good amid all this mayhem.So stop expecting humanity from these creatures.

 

[OMB]

India ranks among top 10 in ITU’s Global Cybersecurity Index

As per the ranking, India has moved up by 37 places to rank as the tenth best country in the world in the Global Cybersecurity Index 2020 launched by the International Telecommunication Union on June 29, 2021.

India ranks among top 10 in ITU's Global Cybersecurity IndexIndia has made it to the top 10 in Global Cybersecurity Index 2020 by ITU, moving up 37 places to rank as the tenth best country in the world on key cybersafety parameters. (Representational Image)
India has made it to the top 10 in Global Cybersecurity Index (GCI) 2020 by ITU, moving up 37 places to rank as the tenth best country in the world on key cybersafety parameters.

The affirmation by the UN body of India’s efforts on cybersecurity, comes just ahead of the sixth anniversary of Digital India on July 1. India is emerging as a global IT superpower, asserting its digital sovereignty with firm measures to safeguard data privacy and online rights of citizens.

As per the ranking, India has moved up by 37 places to rank as the tenth best country in the world in the Global Cybersecurity Index (GCI) 2020 launched by the International Telecommunication Union (ITU) on June 29, 2021.

The US topped the chart, followed by the UK and Saudi Arabia tied on the second position, while Estonia was ranked third in the index.

India has also secured the fourth position in the Asia Pacific region, underlining its commitment to cybersecurity.
GCI assessment is done on the basis of performance on five parameters of cybersecurity including legal measures, technical measures, organisational measures, capacity development, and cooperation. The performance is then aggregated into an overall score.

For each of the five aspects, all the countries’ performance and commitment were assessed through a question-based online survey, which further allowed for the collection of the supporting evidence.

Through in-depth consultations with a group of experts, the questions were then weighted and assessed, to arrive at the overall scores.

The GCI results for India show substantial overall improvement and strengthening under all parameters of the cybersecurity domain. India scored a total of 97.5 points from a possible maximum of 100 points, to make it to the tenth position worldwide in the GCI 2020.

India has worked relentlessly on all the five pillars over the last few years, resulting in significant improvement in its ranking in Global Cyber Security Index.

https://indianexpress.com/article/india/india-ranks-among-top-10-in-itus-global-cybersecurity-index-7382520/

 

[Technics 1210]

All the bravado over fastest growing economy was, covid 19 and the underestimated deaths - yes, India is broke. The biggest economic con known to mankind.

No wonder Western economies are bailing from India as they did in the 40s.

 

[finalfantasy7]

where was pakistan on the list?

 

[Technics 1210]

If India wasn't broke you wouldn't have Indians fleeing 'incredible' India for a better life - FACT.

The majority of Indians on PP live in the West - FACT.

 

[IMMY69]

It was already morally bankrupt

 

[WhenSultansBowled]

This current Indian government is incompetent, corrupt and lacks vision and economic planning.

Their only agenda is blatant hate against Indian minorities and Pakistan.

My take.

Whenever they are in trouble they divert attention to Pak border, Kashmir or the Chinese border.

Cold facts.

 

[Itachi]

I am starting to wonder how people throw the word "FACTS" so easily.

Unless you are the creator with knowledge of all the system, all the people, their mindset and what they are hiding, how one can assume perception as facts?

(unless you are equating yourself to that of the creator but then it becomes a different debate and off topic regarding this thread).

 

[KingKhanWC]

If India wasn't broke you wouldn't have Indians fleeing 'incredible' India for a better life - FACT.

The majority of Indians on PP live in the West - FACT.

Its a 3rd world nation, sadly with hundreds of millions in poverty which must have increased since Modi's and India's pathetic response to their outbreak.

Perhaps they could generate more money by reducing their troops in occupied Kashmir. While the poor are starving to death, the Indians are spending money on occupying people.

 

[Technics 1210]

Its a 3rd world nation, sadly with hundreds of millions in poverty which must have increased since Modi's and India's pathetic response to their outbreak.

Perhaps they could generate more money by reducing their troops in occupied Kashmir. While the poor are starving to death, the Indians are spending money on occupying people.

India's perception worldwide is built upon Bollywood topi bazi drama. The recent outbreak of C19 has proven the reality of India beyond all reasonable doubt. India remains 3rd world, it has no money, and not all the media propaganda can save India from the only religious terrorist banned from the West - Modi.

No wonder Indians are fleeing 'Incredible' India in their droves, even from North East India and this is saying something!

 

[Bi_Jamalo]

India's perception worldwide is built upon Bollywood topi bazi drama. The recent outbreak of C19 has proven the reality of India beyond all reasonable doubt. India remains 3rd world, it has no money, and not all the media propaganda can save India from the only religious terrorist banned from the West - Modi.

No wonder Indians are fleeing 'Incredible' India in their droves, even from North East India and this is saying something!

But what abt the CEOs?

 

[WhenSultansBowled]

Pakistani have little to no investment in India, , their country..is in dire straits economically. On top of that whatever money they used to make from India has reduced due to reduction in trade. Cultural and Sporting ties, which was their biggest influence in India is non existent.

To top it all, India has ignored Pakistan diplomatically and now responds disproportionately to provocation. India removed article 370 and Pakistan could do nothing, so expect them to throw FACTS of frustration.

Yet despite all that Indian government needs to blame Pakistan every 5 seconds.

I don't think you and [MENTION=90888]Itachi[/MENTION] get my point.

To be honest, I'd rather India become an economic powerhouse, it will benefit Pakistanis and relationship between two countries; as your right wing fascists won't be able to fool a well fed Indian.

 

[cricketjoshila]

Yet despite all that Indian government needs to blame Pakistan every 5 seconds.

I don't think you and [MENTION=90888]Itachi[/MENTION] get my point.

To be honest, I'd rather India become an economic powerhouse, it will benefit Pakistanis and relationship between two countries; as your right wing fascists won't be able to fool a well fed Indian.

Pakistan is blamed only if a security related issue(read terrorist issue or border issue arises).

Just because pakistanis dont like the Indian regime, doesn't mean its bad for India. Pakistan has never liked a strong nationalist government in India. They want people like manmohan singh.

 

[cricketjoshila]

I am starting to wonder how people throw the word "FACTS" so easily.

Unless you are the creator with knowledge of all the system, all the people, their mindset and what they are hiding, how one can assume perception as facts?

(unless you are equating yourself to that of the creator but then it becomes a different debate and off topic regarding this thread).

Because thats all they can do. The world has dehyphenated India, from the opinion of pakistanis decades back.

 

[Napa]

India ranks among top 10 in ITU’s Global Cybersecurity Index

As per the ranking, India has moved up by 37 places to rank as the tenth best country in the world in the Global Cybersecurity Index 2020 launched by the International Telecommunication Union on June 29, 2021.

India ranks among top 10 in ITU's Global Cybersecurity IndexIndia has made it to the top 10 in Global Cybersecurity Index 2020 by ITU, moving up 37 places to rank as the tenth best country in the world on key cybersafety parameters. (Representational Image)
India has made it to the top 10 in Global Cybersecurity Index (GCI) 2020 by ITU, moving up 37 places to rank as the tenth best country in the world on key cybersafety parameters.

The affirmation by the UN body of India’s efforts on cybersecurity, comes just ahead of the sixth anniversary of Digital India on July 1. India is emerging as a global IT superpower, asserting its digital sovereignty with firm measures to safeguard data privacy and online rights of citizens.

As per the ranking, India has moved up by 37 places to rank as the tenth best country in the world in the Global Cybersecurity Index (GCI) 2020 launched by the International Telecommunication Union (ITU) on June 29, 2021.

The US topped the chart, followed by the UK and Saudi Arabia tied on the second position, while Estonia was ranked third in the index.

India has also secured the fourth position in the Asia Pacific region, underlining its commitment to cybersecurity.
GCI assessment is done on the basis of performance on five parameters of cybersecurity including legal measures, technical measures, organisational measures, capacity development, and cooperation. The performance is then aggregated into an overall score.

For each of the five aspects, all the countries’ performance and commitment were assessed through a question-based online survey, which further allowed for the collection of the supporting evidence.

Through in-depth consultations with a group of experts, the questions were then weighted and assessed, to arrive at the overall scores.

The GCI results for India show substantial overall improvement and strengthening under all parameters of the cybersecurity domain. India scored a total of 97.5 points from a possible maximum of 100 points, to make it to the tenth position worldwide in the GCI 2020.

India has worked relentlessly on all the five pillars over the last few years, resulting in significant improvement in its ranking in Global Cyber Security Index.

https://indianexpress.com/article/india/india-ranks-among-top-10-in-itus-global-cybersecurity-index-7382520/

This is a fantastic achievement. Strictly speaking, India is actually ranked #15 and not #10 even though in the rankings table it says #10. It is still ahead of countries like Germany, Italy, Belgium, Sweden, Norway etc.

https://www.itu.int/en/myitu/Publications/2021/06/28/13/22/Global-Cybersecurity-Index-2020

 

[Napa]

where was pakistan on the list?

#86 (in the table is says #79).

https://www.itu.int/en/myitu/Publications/2021/06/28/13/22/Global-Cybersecurity-Index-2020

 

[Napa]

All the bravado over fastest growing economy was, covid 19 and the underestimated deaths - yes, India is broke. The biggest economic con known to mankind.

No wonder Western economies are bailing from India as they did in the 40s.

India's perception worldwide is built upon Bollywood topi bazi drama. The recent outbreak of C19 has proven the reality of India beyond all reasonable doubt. India remains 3rd world, it has no money, and not all the media propaganda can save India from the only religious terrorist banned from the West - Modi.

No wonder Indians are fleeing 'Incredible' India in their droves, even from North East India and this is saying something!

You need to tone down your anti-India ranting a bit, not good for your BP and heart health. News about progress India is making (for example, the ITU ranking) seem to trigger you.

 

[WhenSultansBowled]

Pakistan is blamed only if a security related issue(read terrorist issue or border issue arises).

Just because pakistanis dont like the Indian regime, doesn't mean its bad for India. Pakistan has never liked a strong nationalist government in India. They want people like manmohan singh.

The terrorist card is overused and isn't relevant no more. Especially if you know about Indian RAW's activities in Pakistan. Let's not detail the thread tho.

For what it's worth Pakistan would only benefit from a politician like Manmohan Singh. The man put India on the map (from an economic POV).

The foreign policy all around the world, be it Norway or Sri Lanka, is decided by the establishment (military, deep state officials who have been their for decades and will remain at helm when random government is changed).

Although, Mr. Singh never had to spread hate against fellow Indians to gain or remain in power.

 

[Napa]

For what it's worth Pakistan would only benefit from a politician like Manmohan Singh. The man put India on the map (from an economic POV).

MMS was part of the political/bureaucratic establishment that rotted India's economy till 1990. Only when it became abundantly clear that socialism wasn't going to work did MMS become a "liberalizer".

Although, Mr. Singh never had to spread hate against fellow Indians to gain or remain in power.

MMS was irrelevant. He was picked by the Gandhi family, he had no political clout of his own. The Gandhi family was an expert in communal vote banks.

 

[Itachi]

Yet despite all that Indian government needs to blame Pakistan every 5 seconds.

I don't think you and [MENTION=90888]Itachi[/MENTION] get my point.

To be honest, I'd rather India become an economic powerhouse, it will benefit Pakistanis and relationship between two countries; as your right wing fascists won't be able to fool a well fed Indian.

It used to be. congress used to blame ISI for every mishaps. Things has changed and frequency has gone lower. Except election time, you won't see mention of Pakistan at other times.

And ideology has nothing to do with rich or poor. whoever gives better benefits, people will vote for them. BJP has done "something" for financially weak people and that's why they are voting for them.

Since I work with rural finance, I can difference in implementation of the benefiting policies between the two govts. The politicians can say whatever they want, but while executing, BJP ministry has been very strict and the accountability of various departments has gone up a lot as a result of which, corruption has gone down.

moreover, the grievance system has also came in full force. One letter to PMO and you'll be personally contacted.

during lock down, if you face any issues, you just need to contact the social handler team of HBS in assam and you'll be look after.

People go for actions rather than words. and BJP has benefitted a lot from it since they have delivered much to the Indian people. Way better than congress govt.

 

[Napa]

People go for actions rather than words. and BJP has benefitted a lot from it since they have delivered much to the Indian people. Way better than congress govt.

I have to say I am very impressed by India jumping 37 places to get ahead of countries like Germany, Italy, Belgium, Sweden and Norway in the ITU rankings for Cybersecurity. Credit to the BJP government.

 

[Ahmad-GERMANFC]

So a month after images of Indians dying on the streets gasping for oxygen, we have the Indian chest thumpers back claiming that india is a super powaa?

I’ll give some credence to that the day when Indians stop falling over themselves to be the first in line to make a run for it and get out of the country.

 

[Itachi]

So a month after images of Indians dying on the streets gasping for oxygen, we have the Indian chest thumpers back claiming that india is a super powaa?

I’ll give some credence to that the day when Indians stop falling over themselves to be the first in line to make a run for it and get out of the country.

A mother isn't perfect. Everyone has their faults.

Criticize her when she makes a mistake.

Be proud of her what she achieves.

Just because a mother has some shortcomings, that doesn't mean one shouldn't be proud of her.

 

[OMB]

I have to say I am very impressed by India jumping 37 places to get ahead of countries like Germany, Italy, Belgium, Sweden and Norway in the ITU rankings for Cybersecurity. Credit to the BJP government.

It is credit to the free enterprise mostly and aided by some good governance. So let us give credit to Indians in general and a little to GOI (and for sure it doesn't mean BJP).

 

[Local.Dada]

the outright bitterness of some posts. It’s amusing and kind of scary too.

I try to be bitter as well when I hear great news like Pakistan has met 26/27 out of FATF guidelines or FATF says Pakistan is just about getting out grey list in a few months or morale boosting government collected dam funds. However I just can’t get myself to be bitter about those. I am happy for Pakistani friends.

 

[Cpt. Rishwat]

Yet despite all that Indian government needs to blame Pakistan every 5 seconds.

I don't think you and [MENTION=90888]Itachi[/MENTION] get my point.

To be honest, I'd rather India become an economic powerhouse, it will benefit Pakistanis and relationship between two countries; as your right wing fascists won't be able to fool a well fed Indian.

I think Imran Khan is right that he's hitting a brick wall with a hindutva govt, but I have always said an economically progressive India next door will be a powerful driving force for Pakistan to match them, and hence a good check for too much religious colour to a govt. But with a Modi led BJP, not sure that is much of an inspiration.

 

[Local.Dada]

I think Imran Khan is right that he's hitting a brick wall with a hindutva govt, but I have always said an economically progressive India next door will be a powerful driving force for Pakistan to match them, and hence a good check for too much religious colour to a govt. But with a Modi led BJP, not sure that is much of an inspiration.

Well if Modi is such a bad example then what Imran should talk about is not islamophobia in France but minority rights in Pakistan.

 

[MenInG]

Guys

I am going to stand deleting posts if you dont stop India v Pakistan nonsense.

We cannot discuss any topic which involves one country or the other without making it into #INDvPAK !

Stick to topic.

 

[cricketjoshila]

So a month after images of Indians dying on the streets gasping for oxygen, we have the Indian chest thumpers back claiming that india is a super powaa?

I’ll give some credence to that the day when Indians stop falling over themselves to be the first in line to make a run for it and get out of the country.

Two different issues. People were dying in their beds in care homes in Europe and US is storing 100s of 1000s of dead bodies in trucks.

Ofcourse cases and deaths can be very well hidden in a military controlled country.

Indians are falling over each other for your certification of credibility?

 

[finalfantasy7]

#86 (in the table is says #79).

https://www.itu.int/en/myitu/Publications/2021/06/28/13/22/Global-Cybersecurity-Index-2020

out of ?

 

[Napa]

out of ?

Around 190, behind illustrious nations like Benin, Rwanda, Uganda and Zambia.

The entire table is available in the link I provided in an earlier post.

 

[OMB]

TV Somanathan: ‘We are pulling out of the worst… Problem with stimulus is it’s easier to start a spending programme than to stop it’

As the country’s top bureaucrat in the Finance Ministry, Somanathan has been at the centre of the government’s measures to revive the country’s Covid-hit economy. From the Atmanirbhar Bharat stimulus packages to the Centre’s Capex push for economic revival, the 1987-batch Tamil Nadu-cadre IAS officer has been at the helm of major government schemes.

Finance Secretary T V Somanathan explains the recent telecom reforms; insists revival of economic activity will create demand; and says that on capital expenditure, he is “optimistic” about reaching Budget targets and that there would be “no restriction” from the Ministry.

SUNNY VERMA: Since the lockdown last year, the government has taken a series of important decisions, including the National Monetisation Pipeline (NMP), spending on infrastructure, formation of India’s first-ever ‘Bad Bank’ and the package for the telecom sector. Is there a strategy at play?

Yes, there is a strategy. It’s not as if it has happened in the past couple of months. If you look back, it’s a continuation of things that started from late 2020 onwards, with the first set of Atmanirbhar Bharat announcements, which had, among other things, the mining sector, farm sector changes… Then there was the second set (of Atmanirbhar Bharat measures), then the third set, then the Budget. Asset management and the bad bank decisions were announced in the Budget and are being executed now. So yes, there is a broad strategy towards building a stronger Indian economy with an emphasis on core domestic manufacturing — building the capabilities that we don’t have and preserving the capabilities that we have. There is a consistency… It’s a continuum of things that form a cogent strategy.

SUNNY VERMA: And are you satisfied with the economy’s recovery so far?

It’s a good recovery but we have a long way to go. We are not yet past the 2019-20 figures in terms of actual, absolute levels of real GDP… On the whole, the recovery path has been good, better than many people expected, and I am reasonably satisfied.

SUNNY VERMA: But isn’t there more scope to push the spending, capital expenditure to give a thrust to the economy?

We provided for a much higher capital expenditure in the Budget. The challenge is going to be utilising that. There is a considerable increase… The last figure that I had was about 15% up year-on-year, and it is also up on 2019-20. So capital expenditure from the government is high. It’s not as high as the Budget estimates would indicate, but we have had two very difficult quarters. So I think it will begin to pick up speed in the remaining two quarters. So on capital expenditure I am optimistic that we will reach our quite ambitious Budget targets and there will be absolutely no restriction of any kind from the Finance Ministry’s side on capital expenditure. The issue will be the ability of user departments to utilise the available provisions, because capital expenditure is not the signing of a cheque. It may require land acquisition, construction, environmental permission… many steps to be taken before the cheque can be signed. From our side, the money is available. The departments are doing their best and we are actively reviewing the progress… and there is considerable progress. The increase that we have seen in the first two quarters despite the second wave is a good sign and I am quite hopeful that it will be even better in the remaining two quarters.

As far as room for more fiscal spending, glide path is concerned… When you use the expression ‘glide path’, in your mind you have a paper plane or a glider that you throw at a particular height and by gradual gravitational pull it comes down automatically and lands gently. Fiscal deficits have no automatic downward gravitational pull. If anything, they have an upward path. If they are not actively pulled down, they don’t glide. So glide path is a loose terminology that I, as a fiscal manager, am not very happy with because it implies that if you start at 6.8% (fiscal deficit) it will automatically glide down to 4%… No. If you push it up, it will stay up. So we have to be very careful about how we manage fiscal deficits. We must be realistic about where India stands as a country in terms of global markets. We are following carefully, calibrated fiscal expansion. It’s an expansion which we want to sustain, without the kind of difficulties that we faced in the end of 2009-10, which led to 2012-13… So we don’t want the expansion of these two years to lead to a situation where we are out of control or we have lost macro-economic stability. That is a delicate balance… So we are planning for a calibrated fiscal expansion that will provide support to the economy at a time of acute need, which is why we are not near 3%. We are at a budgeted deficit of 6.8%.

Yes, there are increased revenues in the last two quarters, but one mustn’t forget the expenditure pressures that are already known and are above the Budget estimates. For instance, we have eight months of additional food supply, which will cost us Rs 1 lakh crore. We have an additional fertiliser subsidy, already announced for Rs 15,000 crore. Now, the Commerce Ministry has announced a decision to clear arrears of export incentives worth Rs 56,000 crore… So there are already expenditure commitments which one shouldn’t lose sight of when you say there is enhanced revenue, but there is also enhanced expenditure. The government is prioritising expenditure on the poor and there we are not being constrained by fiscal mathematics. We will make sure they are protected and the government is the only agency that can protect them. For more than that, we have to look at what is prudent and something that will not create a future crisis that will simply ‘glide down’.

ANIL SASI: The government’s Final Consumption Expenditure in the first quarter, as per GDP numbers, was lower on a year-on-year basis. Why has it gone down? Also, you have started incentivising states that have met their expenditure targets. Can this be interpreted as a move to push things more towards the states?

The government’s Final Consumption Expenditure is a result of elevated levels last year. It is not because of reduced levels this year. Last year, this was the time of the lockdown and there was the Pradhan Mantri Garib Kalyan Yojana, so there were a lot of special (measures). For example, there was a transfer to Jan Dhan accounts. So government expenditure in the first two quarters of last year was unusually elevated. This year it is returning to a more normal pattern.

In the Budget we had said that the… 4% fiscal deficit for states would have a component linked to capital expenditure target. Several states have met those targets and others have time till March 31 of this fiscal year to meet the targets. That is part of what was announced in the Budget. It is not a reduction of the Central government’s capital expenditure. It is an attempt to push the state’s own expenditure in the direction of infrastructure and capital spending… This is part of the 1% extra fiscal deficit.

ANIL SASI: On the retrospective tax amendment, we gathered that the decision to move on it was taken after the two arbitration awards (Vodafone, Cairn) came in. But why wait for the conclusion of an arbitration process to start something that is perhaps right?

I would say this: until you lose the arbitration award it is not even clear that you have done something that you shouldn’t do. Hypothetically, if the arbitration award had said that Vodafone has to pay, then is it really good for us to give up taxpayers’ money without even that attempt to see if it’s actually, judicially or arbitrally, determined that they were right in making that claim.. Why should we give up that claim? It is public money. That, I think, was the logic…

LIZ MATHEW: We keep hearing about legacy issues from ministers and officials. What exactly are the economic legacy issues for the government now?

I don’t think at this point I would like to separate legacy and non-legacy issues. The government of the day tackles all the issues that are with us today.

SANDEEP SINGH: While you are allocating funds for the poor, what are you planning on doing for the middle segment, which is responsible for creating demand?

The revival of economic activity will bring a considerable amount of demand in its wake. There are people who think that demand should be stimulated… The problem with stimulus in a vibrant democracy is that it is easier to start a spending programme than to stop it, and then you may lead yourself into a situation where you are spending where you don’t need to spend. So it is a calibration that is quite difficult to pull off. I think demand is reviving because economic activity is reviving. Already you see sectors where the demand outstrips the supply, such as the auto sector… So demand is being considerably revived — more for goods, a little less for services. Shortage of demand for services is not so much a function of the economy, it is a function of the health situation. So as and when mask mandates and closure of service establishments begin to recede with increased vaccination, the demand will come back. A lot of sections that have spending power are not necessarily left impoverished in the pandemic… As the health situation improves, one can expect fairly good recovery… The indirect tax numbers, which are a reflection of the demand, are looking healthy. The GST, excise, customs, they are looking better than I might have guessed in the middle of the second wave. I think we are pulling out of the worst of the situation quite fast.

PRANAV MUKUL: One of the measures announced as part of the telecom reforms was that the government would be able to take payment of statutory dues in equity. How does that play out? Also, on the one hand the government is trying to monetise its assets and on the other you are taking a stake in a company, when you already have a State-owned enterprise.

This is a very context-specific measure. First of all, there are no other sectors where you would find non-tax dues of this magnitude. These are not tax dues. This is a non-tax levy of the government. It is extremely unusual for this magnitude of non-tax levies to affect the existence or survival of an enterprise in any other sector.

Secondly, there is a history of disputes, which have been decided by the courts in a particular way. So it is not as if there was clarity on the amount of these dues over the period in which these dues have accumulated. So in a sense there is an element of uncertainty which was present, which was judicially determined quite recently, which provides a large liability, which may not have been contemplated, rightly or wrongly, by the enterprises there.

Thirdly, it’s an infrastructure sector where the presence of competition is vital. So it is not unprecedented for governments to intervene in the survival of private sector enterprises in situations where the disappearance would affect levels of competition. For example, the US government gave Chrysler a bail out in 1979 because they didn’t want only Ford and General Motors to be the car manufacturers in the US… In India also we have several instances, starting from Satyam, where innocent bystanders could get affected by a situation. We have chosen to take a decision that balances public interest in many dimensions. It is not necessarily a precedent that will be done to other enterprises. The circumstances of each case may be different. This is a very peculiar circumstance, where the preservation of competition and the protection of huge amounts of government dues were best served by this particular mode of operation… So this is an attempt to protect the telecom sector, create a vibrant telecom sector for the future, while also preserving the ability to collect government’s dues.

PRASANTA SAHU: What is your assessment of the revenue situation?

It is looking better than we had anticipated a few months ago, both on the direct side and indirect tax side. Year-on-year it is up 15%, and not 36%, which is the Budget estimate. We want it to be 36%… This much I will say, it is not because of curbs on capital expenditure… So yes, the situation on the revenue side is looking good.

P VAIDYANATHAN IYER: The pandemic has worsened inequalities, globally and in India. How do you look at it in terms of ensuring government benefits reach the poor? Is it just in terms of food grains or much more substantial?

The inequality has two elements to it — the bottom end and top end. I am looking more at the worsening of the bottom end rather than the enrichment of the top end. As a short-term palliative, we have used the food and these immediate emergency measures. So we are not completely out of the woods in terms of saying we have seen the end of the pandemic. In the short term, the government machinery has limitations on what it can do… What we are likely to see, as we come out of this situation, are a lot of programmes that are targeted to help the poor — so you will see a big thrust on drinking water and sanitation, urban and rural housing. So these are ways in which inequalities are addressed, not necessarily only through income transfers. Some of those programmes are announced and in operation, some more are likely to come. These are all means by which you would improve the lot of the weakest within the capacity constraints of the government machinery… The government is focused on doing things that are feasible and will actually reach the targeted groups. I am not saying we have all the answers, We have some answers but we may need to do better. You will see more efforts as we come out of this so-called emergency-like situation that we have been in for a year and a half. As we get to a more normal situation, we will be able to do a little more.

At the top end, the government has already reversed the policy of capital gains being tax free, which is an important step on inequality. Internationally, asset price inflation is the main cause of inequality at the top end. Of course, there is a grandfathering of gains up to 2018. But gains accruing after that are now taxable. Progressivity in tax rates has also increased in the last few years in the individual income taxes.

P VAIDYANATHAN IYER: Last 3 months have seen a barrage of measures and many of them are different from the government’s stated position or action so far — be it Bad Banks or retrospective tax. What has led to this change?

It’s not in a short span, it’s over a year and a half. I would connect this in a continuum starting from May 2020’s Atmanirbhar reform and if you see, all of them have been in one direction… It’s part of consistent efforts to get to an Atmanirbhar Bharat… It is in a broad sense towards reviving India’s capabilities as an economy. I think it is a carry-forward from the Budget. There were some interruptions due to Covid second wave, but we are returning to longer-term priorities.

SUNNY VERMA: Privatisation was a change that was introduced in the Budget. Where are we on that front?

You would have seen that the bids for Air India have been received. A lot of work had to go into that… The fact that we have received two bids is a good sign and we are quite hopeful that we will see success there. Others are to follow. LIC is a stakes sale, not privatisation. That is an advanced stage of privatisation. It’s a classic corporation. It’s not a company under the Companies Act. So even its accounting methodology, standards, everything was different. A lot of progress has been made on LIC.

AASHISH ARYAN: A four-year moratorium on AGR (Adjusted Gross Revenue) and SUC (Spectrum Usage Charge) payments was announced in the telecom reforms. For 2021, the budgeted estimates were Rs 53,988 crore. It looks like telecom companies will opt for this. So this goes out of the estimates for the next four years. How much hit would the government take?

We will have to see how many companies opt for the moratorium. It is NPV (net present value)-protected at its own internal rate of return. Some of those rates of interest are higher than today’s borrowing rates. So not everyone would automatically opt for the moratorium. The offer is open to all. We have to manage the cash flows. But hopefully, if we get better spectrum receipts because of a healthier spectrum market; we will see some offset there.

https://indianexpress.com/article/india/finance-secretary-t-v-somanathan-telecom-reforms-package-agr-due-india-economy-7520122/

 

[OMB]

Why India is on the brink of an unprecedented power crisis

More than half of the country's 135 coal-fired power plants are running on fumes - as coal stocks run critically low.

In a country where 70% of the electricity is generated using coal, this is a major cause for concern as it threatens to derail India's post-pandemic economic recovery.

Why is this happening?
This crisis has been in the making for months.

As India's economy picked up after a deadly second wave of Covid-19, demand for power rose sharply.

Power consumption in the last two months alone jumped by almost 17%, compared to the same period in 2019.

At the same time global coal prices increased by 40% and India's imports fell to a two-year low.

The country is the world's second largest importer of coal despite being home to the fourth largest coal reserves in the world.

Power plants that usually rely on imports are now heavily dependent on Indian coal, adding further pressure to already stretched domestic supplies.

What is the likely impact?
Experts say importing more coal to make up for domestic shortages is not an option at present.

"We have seen shortages in the past, but what's unprecedented this time is coal is really expensive now," said Dr Aurodeep Nandi, India Economist and Vice President at Nomura.

"If I am [as a company] importing expensive coal, I will raise my prices, right? Businesses at the end of the day pass on these costs to consumers, so there is an inflationary impact - both direct and indirect that could potentially come from this," he added.

If the crisis continues, a surge in the cost of electricity will be felt by consumers. Retail inflation is already high as everything from oil to food has become more expensive.

Vivek Jain, Director at India Ratings Research described the situation as "precarious".

In recent years, India's production has lagged as the country tried to reduce its dependence on coal to meet climate targets.

India's Power Minister RK Singh, in an interview with The Indian Express newspaper, said the situation is "touch and go" and that the country should brace itself for the next five to six months.

A senior government official, on the condition of anonymity, confirmed to the BBC that the situation is worrying.

If this persists, Asia's third largest economy will struggle to get back on track, warns Ms Zohra Chatterji, the former Chief of Coal India Limited - a state-run enterprise responsible for 80% of the country's coal supply.

"Electricity powers everything, so the entire manufacturing sector- cement, steel, construction - everything gets impacted once there is a coal shortage."

She calls the current situation a "wake-up call for India" and says the time has come to reduce its over-dependence on coal and more aggressively pursue a renewable energy strategy.

What can the government do?
The question of how India can achieve a balance between meeting demand for electricity from its almost 1.4bn people and the desire to cut its reliance on heavily polluting coal burning power plants has been a major challenge for the government in recent years.

The vast scale of the problem makes a short-term solution unlikely, according to Dr Nandi.

"It's just the sheer scale of things. A huge chunk of our energy comes from thermal [coal]. I don't think we've reached that stage yet where we have an effective substitute for thermal. So yes, it's a wake-up call, but I don't think the centrality of coal in our energy needs is set to be to be replaced anytime soon, he said.

Experts advocate a mix of coal and clean sources of energy as a possible long-term solution.

"It's not completely possible to transition and it's never a good strategy to transition 100% to renewables without a backup. You only transition if you have that backup available because then you're exposing a lot of manufacturing to many risks associated with the environment", Mr Jain said.

Long term investment in multiple power sources aside, former bureaucrats like Ms Chatterji say a crisis like the current one can be averted- with better planning.

She feels there is need for closer coordination between Coal India Limited - the largest supplier of coal in the country and other stakeholders.

From ensuring smooth last-mile delivery to demanding more accountability from power companies in India, Ms Chatterji adds, "power producers must stockpile coal reserves, they must have a certain quantity at all times.

But in the past we have seen that has not happened, because maintaining such an inventory comes at a financial cost."

What could happen next?
It is unclear how long the current situation will last, but Dr Nandi is cautiously optimistic.

He says "with the monsoon on its way out and winter approaching, the demand for power usually falls.

So, the mismatch between demand and supply may iron out to some extent".

Vivek Jain adds, "This is a global phenomenon, one not specifically restricted to India. If gas prices dip today, there could be a switch back to gas. It's a dynamic situation".

For now, the Indian government has said it is working with state-run enterprises to ramp up production and mining to reduce the gap between supply and demand.

The government is also hoping to source coal from so-called "captive" mines. Captive mines are operations that produce coal or minerals solely for the company that owns them and under normal conditions are not allowed to sell what they produce to other businesses.

The overwhelming verdict from experts is that short-term fixes may help to get India through the current energy crunch but the country needs to work towards long-term alternatives to ensure its growing domestic power needs are met.

As India works to climb out of one of the worst recessions among the world's major economies the country will aim to avoid any further hurdles.

https://www.bbc.com/news/business-58824804.amp