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@@skands706 he mentioned it earlier, china gave loans at quite higher rate. The thing is China delayed payment deadline for Pak., But not in case of S.Lanka.
@@skands706 don’t blame China. Several Indian states are not far behind. Elected leaders always feel compelled to spend for reelection. Especially social spending They always think that can work on it if re-elected.
@@Uchihaayoub I’m pretty sure it’s not color blindness. If I were Bilbo I would solve the riddle. My southern relatives keep seeing black, white and brown skin… Black flags Brown shirts White hoods. Ummmm I’m out of guesses
I guess you are talking about Delhi CM and Bengal CM, they are ones giving freebies. Both working under a socialistic model. The best way to go forward is Capitalism, yes it does create a difference between people but at least the government has enough funds.
I visited Srilanka in 2011 and my Srilankan colleague told me that we import almost everything. I told him that this is an extremely worrying situation that you import everything and unless the county does not start manufacturing its own stuff as much as it can, this is a disaster waiting to happen. And that is where we are in Srilanka.
That is happening in many of the post industrialised countries in Europe, like the UK. If you don't make the stuff, you don't have the stuff in the long run! As simple as that.
India's fuel tax is the highest in the world & having the highest fuel tax doesn't mean a country is doing better. It simply means that the government survives by taxing fuels, which directly affect the middle class ( indirect tax ) while the rich are having fun. In most developed countries, the direct taxes are more than indirect taxes while in India it is the reverse.
Also the problem highlighted by Mr. Gupta is the dangers of 'subsidies'. India doesn't have fuel subsidies since 2008, what we have is very high fuel taxes that directly contributes to food & other essential inflation.
It isn’t just dependent on Tourism. Tourism is about 15-20 % of GDP, but yes when 15-20 % of your GDP vanishes, a small country with small cash reserve will fail.
yeah there were other factors like fully organic farming and cutting tax by half , together they made this mess, had it been only tourism then it would have been okay
But in India situation is different, Modi Sanghi government is giving tax concession to corporates and lakhs of crores loan waiver to Ambani and Adanis and common people are burdened with high tax rates to compensate the loan waivers to these kind of corporates. Under Modi rule it's not far even India is going to suffer like Srilanka
@@cpselvam1 then...u know atleast basic sense in economy....i know u have problem with ruling party...but u need atleast some common sense...srilanka is entirely different....u a comparing a curse ship with steam boat...first learn fact...not from DHRUVA RATEEE....
Compare this to what Modi did: 1. Gave reasonable freebies (INR 500) compared to RaGa's promise of 7000 - backed by NRI economists who wanted to run a European style experiment of UBI. 2. Streamlined tax collection through GST, plugged the loopholes and kept the GST RATES TO ENSURE REVENUE NEUTRALITY vs RaGa's demand of Singapore style low, flat GST 3. Invested in road infra (didn't give in to populist demand of toll waiver). Invested in Power distribution with conditionality of reducing transmission losses/power theft vs FREE ELECTRICITY offered by RaGa and Kejriwal MEDIA's TAKEAWAY - STRONG NATIONALIST GOVT LIKE IN SRI LANKA WILL DESTROY THE ECONOMY. WE NEED COALITION GOVT.
But you failed to mention the intentional increase in excise and cess duty on fuel which is increasing the cost and feeding inflation meanwhile slashing corporate tax from 30 to 22% and for new industries to 15% (this applied even to subsidiaries of present corporations). They shifted the burden from the direct taxes to indirect taxes which affects every citizen in the country.
So much similarities: 1. Religious Nationalistic governments. 2. Chinese backed loans. 3. Mis management of finances. 4. Exploitation of government revenue. 5. High inflation and currency devaluation. 6. Imports of essential items on a daily basis (lack of self sufficiency)... (Writing from Sri Lanka 🇱🇰)
@@BruceWayne-qe7bs I like the idea. In the short term, it will be an impact on the economy. However, long term, it should be a good strategy, esp., trade and other issues.
The lessons we (Indians) should take from this is we also want low GST, low taxes and lot of subsidies, benefits, freebies ("Moon") from our government. But this has consequences.
But you failed to mention that tax cuts the government provided to the corporations and tax holidays. Revenue for government should come from direct taxes which are proportional not indirect taxes. Simple example tax, excise and cess duty of petrol is same for person riding a tvs moped and a person driving the rolls royce.
Well said Sumit, it ain't easy in Aust with our taxes. Subsidies( at the cost) of tax payers keeps our rural agri poor people from starvation. Nobody wants that. Cost of having 1.2 Billion pop. My Australia 2.8% bigger than India has a pop.of 27 Million...yet we have fuel and food shortages. ....do the math. 70 million sheep, 40 million cattle, 7 th largest wheat producer, oil and gas surrounding our continent, minerals galore. gold AND Argyle Diamonds. True National Wealth is in People NOT resources in the ground. GO, you Indian youth. Cast aside old hat sectarianism. make a proud future for yourselves ...and your kids.
That's why AAP,TMC are dangerous for this country. Freebies even though states like Punjab are debt ridden. I don't know why shekhar doesn't condemn AAP politics anywhere. Are we waiting for the crises to happen? BJP also falls for this cheap tactic but not to the extent of AAP.
Bas abdhbhakt babe raho. Gujarat hSas more than 3 lakh crore of debt and madhya pradesh also has more than 3.1lakh crore of debt. Both of these state have been ruled by bjp for the last 20 years almost
I think what AAP does in Punjab will define their image, already Bhagwant Mann is asking for 1 Lakh crores from the center to fund their welfare/subsidy schemes, it's already the state with the highest debt to GDP ration in India, which is a bad sign. Delhi is the metropolitan capital with a large population and economy and obviously there is going to be lots of revenue using which Kejriwal has been providing the freebies, but I think he has not over done it, but comparing Delhi city to other true states is just False Dichotomy, what BJP has done is the make sure that the welfare funded from mostly middle class taxes reaches people instead of being pocketed, it makes sense if some welfare is given to people who have absolutely nothing, but they must be careful to not overdo it.
In India there are ppl who think government is evil if it ask for taxes. Also freebies is what everyone wants without thinking what it does to economy in long run.
Think it’s more than people don’t want to pay tax as they know the proceeds are mostly going to be eaten away and only a small % will actually come back to them in form of public benefits.
@@adr2567 this is illogical excuse of justifying I'll intend of not paying taxes. India is not Afghanistan where there is no Infra, security, public service etc. All this we hv in India and whatever is under development is all due to taxes. Some corruption will always be there specifically in developing country like us but things r rapidly improving
Wonder what is the condition of many state economies in India !! Same ultra populist measures of freebies with income coming only from oil taxes and other direct tax revenues. The condition here in Kerala is so pathetic that the state finance minister today stated that they cannot pay the employees of the state transport department and may have to fire off some personnel to manage expenses. The state transport does not even have money for diesel these days. We are so attentive to neighbouring countries economies ignoring our own state economies, more attention please !!
Good in some ways. Kerala transport agency was over employing folks (by about 8k but they claim 4k). It also gives out pensions for 2 years of employment, that's just insane. It's just very poor fiscal management.
Punjab grows two of the most profitable crops in India but it still has a lot of debt which keeps on increasing due to the uncontrolled subsidies being provided by the government. Subsidies are good for a start but should be stopped after some time to let the economy balance itself
God's own state. They should go in for IMF loan, after all they have a stable government and they can afford to helicopter some more freebies to their constituents in the name of development.
U guys have come along very harsh years. U were supposed to be a poor country for lifetime, as mentioned by some foreigner economist. But u r continuosly increasing country capital. 👌. 💯
As long as you guys don't embrace radical Islam, hatred, and become morons, u will b safe. Otherwise ur state will b worse than Pak n Lanka. History as shown that you guys are normal n sensible till prosperity comes, after that you guys transform into fanatics, and kick rationality out and embrace Deen, the mullas and what not and generally start believing that the whole universe is your responsibility
It is because of leadership of Sheikh Hasina. Despite of Indian hegemony she is not blindly tilting towards China unlike Pakistan, Sri Lanka n even Nepal to some extent. At present Nepal also on right track like Bangladesh.
Don't worry everybody is going to leave this country sooner or later. We are from the middle class, we or our children will migrate to UK or US or Dubai soon. This country is not inhabitable for the middle class anymore.
@@harshb747 unless you are a professional or have special skills and moving with a job offer paying a minimum of 150k a year, moving to the US or UK is going to be a shock. Their middle class is both dying and being squeezed to death at the same time.
@@harshb747 Yes please move. People like you aren't worth it. If you think petrol prices are high here, go to the west and see. If you think taxes are bad here, please move and see. If you think cost of education and inflation are bad, then once again, go and see 8% inflation in the USA.
@@harshb747 Dude India is actually growing while west has been in decline for a while. Sure you can escape but you'd do far more with your skills here than in those countries.
This should be an eye opener for the people of punjab and delhi... Populist schemes should be for only those who are really poor. Election commission should take a note of this.
Especially punjab, because the centre can swoop in and take over delhi quite easily as it is still a UT but Punjab will be f*ucked because centre cant do shit
Appreciate the brilliance around data, research, topic, storytelling. Worth every penny that I've subscribed to. Congratulations to team Cut The Clutter...
There is no substitute for data when it comes to weaving a story around political economy. It makes you understand the so called "policy decisions" at its very core are actually economic decisions.
Where do you stand on islamic ideology that all non believers would burn in hell and they should be killed ? Are you okay in singing vande matram and saying Bharat mata ki jai? I know this is a personal question but I have seen you asking questions on print many times. Hence, asking to know what ideology do you support
Sir how about a CTC on debt challanges of our states... Many states are literally undoing reforms (pension schemes)... Punjab is in a mess.... Gujarat got debt trap warning by CAG... please do a CTC on financial health of our states and consequences if they do not rectify
UP is the worst at the moment with other bimaru states following it, they are eating tax revenue of dravidanaidu and breeding crazily paying no taxes and increasing crime throughout India
People who vote for parties which promises to giveaway everything for free should learn from both of our bankrupt neighbours. Because in return for freebies you might actually end up paying everything you have ever owned.
If you are heavily debt ridden then may be govt.should think of generating sources of revenue, not selling public companies. The example of feku govt. is prime example of how not to run a govt.
@@udaikumar1782 don't care who you support or not. But your comment is alarmingly uneducated though. Sad reality of India I guess. Budget is public from all the countries and of all the time, but seems you didn't make any effort looking it up, and yet hold strong opinions on it. Seething with hatred it seems...
These analysis are almost like podcast , where i can just plug headphones in and listen to it whilst doing other stuff. Brilliant analysis and great video . Always looking forward to next cut the clutter, good job! Keep it up! The print team.
China is a vulture that feeds on dying economies. In this video, he is mentioning the reasons that caused the economies of pakistan and sri lanka to get into this dying situation.
@@ganeshhirve6257 Because China isn't the sole cause. Saying China and leaving is the easiest way out. There are other factors namely incompetent governance causing it
You should check out Bloomberg's video on "The myth of the Chinese Debt trap" in which they explain how people exaggerate China's investments as debt traps. I'm not siding with China but if your country was incompetent enough to not be able to pay the loans it owed it's not their problem. Moreover, the IMF isn't any less harsh in their practices either when a country fails to meet their standards. Just because China is now an economic superpower and invests in other countries, doesn't mean every problem in other countries is because of them.
@@slayer1980 I would say it's more like all tje countries which are in a bad position are in a lot of debt from vrious parties, China is just one of them. I'm sure China does practice debt trap diplomacy but it's not nearly as bad as people think
You're one of the few channels with an informed and nuanced take on this subject. I just saw some Zee TV type channel with the headline Ravan ki Lanka khatre main !! 😅😅
Srilanka being a tourism based economy crashed during Covid 2 years as tourism dried up totally. There's a lesson there not to rely on one sector alone.
Hi SG, Another well researched episode. The USP of your episodes are story telling abilities that to with easy language to understand and without heavy dictionary words. I have one question which you didn't clear in this episode - impact on India with neighbouring countries in trouble.
Shekhar sir, in India too we have extreme populism, polarised nationalism and perhaps not dictatorial, but very strong and powerful government. What is stopping us from becoming a SL or PAK? What is the Modi government doing right to not have India follow our neighbours?
They have keen eyes on sri lanka and pakistan and we have very good desicion makers IAS and IPS who must have told what not to do to Prime minister. Yesterday only 4 hours meeting happened between pm and all the minster warning them from freebies and sri lankan crisis.. I am very sure they will do something...But it is hard in a country like india where opposition literally oppose everything, eg. farm laws..
We have a diversified economy, it's getting even more diversified now, idk about al-Bakistan, but Lanka's economy was dependent on tourism and remittance( like Lebanon ) and low exports of tea and ready made garments. Besides we have strong domestic consumption economy also, because of our size I think, Lanka has just 22 million people, that's less than even Kerala
Nope! It is lesson for not copying religious fundamentalism anymore. Adding to it never vote for those who promise more freebies. It a lesson for congress party and coastal indian politicians also. Who never talk of capital creation instead only thing they have learned offer more freebies
If more than 70% of the budget goes towards military expenditure, an activity that creates no wealth, that nation is doomed to fail. Pakistan has been treading the same path of USSR since 1947. Prior to 1971, it was looting East Pakistan and was getting massive aid from gulf and Western countries. After 1971, East Pakistan from where Pakistan used to get 70% of its foreign exchange became Bangladesh. With the end of cold war and war in Afghanistan, aid from Western countries also started dwindling. Now economic health of gulf countries is not so good. Hence, aid from gulf countries are also reducing. In other words, today's Pakistan used to be the recruitment ground for colonial British India Army without the economy to sustain the same. Pakistan, is existing on borrowed time.
Comment from a Pakistani living in US: I disagree with most of what you said except that last part where you said the area that constitutes Pakistan was a recruiting ground for British,especially the belt from Rawalpindi to Jhelum. You said Pakistan received aid from Gulf prior to 1971.Wrong:Gulf countries hardly existed before 1971 and it was not the aid that fueled Pakistan’s economy,it was the massive inflow of remittances that started in 1973 after the oil boom. “70% of the budget goes to military”,wrong again.Thats exaggeration.Only 17% of the budget went to military.But the major chunk goes towards debt servicing. For a country that inherited only one textile mill in 1947,we haven’t done that bad.From 1947 to 2020 the economy has grown every year at a healthy average of 4%. Agreed there are serious economic problems made worse by poor planning and political crises.
Pakistan should destabilize more and eventually dissolve and form 3-4 new countries, so that our western borders will be peaceful and we could focus on China.
Recently there was a PIL in the SC against freebies during elections. That read along with the alarms rung by the secretaries in yesterday's meeting with PM and the CAG's reports of various states, feels like a tide is incoming! Thanks for the data crunch SG sir!!!
@ArigatoPopeye12 of course he will be arranging multiple robust sources of revenue before giving freebies. Punjab was heavily ridden by mafias where all the sources of revenue were controlled by them and blocked from going to thr govt. coffers. Honesty really does matter a lot. Arranging robust sources of revenue that overshadows expenditure is the key.
Cut the clutter. Never has a title been so correct. As usual SG tells it straight so all can understand. I always look forward to your unbiased well considered statesman like insightful opinion. Thank you Mr Shekhar Gupta.
Sir, the gdp is denominated in dollars. The PMLN kept the USD:PKR at Rs.105 artificially. When it was allowed to rise, the PKR went down to Rs165 a dollar. If you evaluate the GDP in dollars and compare between 2017 and 2018, you hv to take into account the artificial dollar parity.
An Indian having such deep knowledge regarding the economy of pakisyan is commendable.... Most people don't get this as the dollar was artificially maintained and billions were spent to sustain the economic ruse
Imran’s 3++ years rule gets an A+ for selling the Riyasate-Madina utopian govt promise to Pakistanis and F- for handling Pakistan economy. Poor guy realized that there is no money left after paying Army salaries and interest on country’s past loans. No World Cup for Imran 😊
I dont know what are the motives of this video, almost all the quoted figures are wrong & this research lacks the basic economic sense. Video is referring 2017 for comparison, However it was August 2018 Imran took over. Further the dollar rate was 128 instead of 118 when he took over but Pakistan's economy was carrying a Current Account Deficit of 20 billion dollars which became the reason of inflation and gdp per capita going down. Professor Azhar's name was also used, his only drawing is, the effects of inflation on rich n poor, he merely uttered a word beyond this while it seems that all the quoted figures in this video are coming from him. Talking about Imran's govt, exports are all time high imports are all time low, tax collection is almost double, trade deficit is lowest ever, remittances are highest ever, we have 5 bumper crops all things are going in right direction. I wonder what u have quoted is intentional or it is copied from someone who is spreading anti govt sentiments in Pakistan. Further another mis concept is being spread that Imran is using religious Nationalism as a political stunt and that has made economy going down, No Sir. Imran has launched Langar khana where anyone can go and eat food without paying a single penny, he has opened hundreds of shelter homes for homeless a recent research says that 99% of homeless who had to sleep on the roads are adjusted in the shelter homes. He has introduced health card for every Pakistani, to have health insurance coverage of 1million per family per year. Any Pakistani can go to any state of the art private hospital. The above actions/initiatives come under 'Ehsaas program'. The masses are greatly inspired by Imran's vision and his contributions towards humanity. There has been a conspiracy by USA to overthrow Imran's government, which is well endorsed by National Security Council, which has become the reason for the dollar to go up as there can be consequences after Imran's visit to Russia. Building a narrative of ur own, drawing silly conclusions which are not even closer to reality are somewhat very astonishing. I have narrated few examples the reader may Google any of them to have a better understanding. Imran's popularity has increased exponentially he just did the largest procession in the history of Pakistan on 27th March. Gupta gee has some personal issues with Imran, i believe so.
@@azeemiqbal9641 bruh you so blind and stupid....Pakistan's exports are almost constant and hasn't increased a bit since 2011. Infact they are significantly lesser than Bangladesh's. Now Pakistan has to import more hence the increase in trade deficits.
Since school days even now when I study back the economic subject from class IX - XII the NCERT books emphasis that our India lacks behind in economics in comparison to Sri lanka & Pakistan Now I think 🤣 NCERT has to re-edition it's contents to suit the current situation
A very timely episode SG. Excessive populism, religious fundamentalism and elected autocratic govt. These are very crucial warnings for all Indians at a moment where our democracy is increasingly under strain from polarizing and fractious politics. Keep up your fine work 😎👍🏻
Pease replace the name Gotabaya to Modi, then whatever said by Mr.Gupta is applicable. What a fantastic explanation. So, when we will be in Sri Lanka's condition?
Shekar Ji, I quote Paul Samuelson on two of your points: "What we know about the global financial crisis is that we don't know very much." ~ Paul Samuelson and truly another: "Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support." Excellent analysis Sir, I don't regret now having to watch "News Channels with all the shouting. It does not give any analytical solution. Paul Samuelson
Jessore University of Science & Tech. in Bangladesh🇧🇩 is ranked as number 1 university in Asia ahead of National University, Singapore. Thanks to Shekhar
You make my day every single day. Shekhar sir. I fight, debate with people on whose the single best journalist in the world not india in the world is you. So clear so earthy.
People love to blame the IMF especially on the left, but the truth is no one ever follows all its prescriptions. There are too many vested interests to allow tax reforms and poor subsidy delivery mechanisms that are first to fail in every IMF program. Even after 30 years India hasn't managed all the reforms that were to be done back in 1990-5, direct tax code is still no where and decontrol of fuel prices can be called partial at best, privatization is only being taken seriously.
@@thunrou Go read what has happened to IMF programs and their actual implementation. Don't go by what you're told go read IMF press releases and real budgets of countries under their programs. This b.s. narrative about IMF wrecking countries is mostly by people who don't look at what is actually implemented and talk in abstraction about so-called neoliberal policies.
Reminder : India’s per capita GDP has also seen record drop post LPG much before the Covid crisis and we are seeing huge inflation. Our economic policies have been counterproductive and yet somehow the govt just got away with barely a slap on the wrist
@@kaustubhshukla6462 It was the growth rate that fell not the Absolute numbers. Please read the data carefully. The GDP per capita declined in absolute numbers in 2020-21 year
Good insights.. One critic is that Stock market is not a indicator for real economy as shown in the graph (around 6 mins of this video). Stock market should be secondary indicator as majority of the nation's population - during a economic crisis - do not look to the stock market
As a layman I can say that, if one is over - friendly with China, this is bound to happen. I have seen the sad scenario in Nepal in 2018. Nepal was too friendly with China.
This is the very thing AAP is doing to win votes in India. The Centre has bailed them out many times in Delhi. Hope it stops, else India too is headed the Srilanka way of economic doom thanks to Kejriwal's lack of conscience and anti national stance
"anti-national" stance ? So, by giving back to the people what people had given in the form of taxes is anti-national ? Srilankan economy was ruined because of its debt ridden status and fake looting and corruption along with no original thriving of manufacturing and businesses. Sri Lankan economy was dependant on exports of specific products only .
Delhi is the only state having surplus budget , mind you . And Delhi gives farther more taxes to the centre per person. Centre is least helpful in finances and efforts towards Delhi. It is because of thriving businesses catalysed by AAP policies that Delhi is running very good. Opposite to feku govt. who is running govt. by selling public companies in penny values.
When we have states like UP and Bihar which adds a lot to our GDP, states like Delhi and Kerala can do what ever they want.. a sort of balancing act.. Thanks to Modi our supreme leader..
@@SuperSandboard it's time of wastage bhai He will not listening to anybody AAP lobby is blackmailed his mind, People should influence by govt, but should not follow blindly to any leader, same goes for BJP-INC
So basically, Rajapaksa khandan ne khud ki "Lanka laga di hai" both literally and figuratively. And Imran Khan took his own wicket. phew, we are so lucky to be in India!!!
I just have a wish that someday I can get opportunity to have a talk with sg sir on such topics,he seems like the person who is seeing a topic from every aspect with 10 eyes ... I m a medical professional but still love to follow national and global politics...
Glad India has strong policy makers in place over the last 8 years! If not, pappu would have taken loans from China, and then led India to a very similar situation.
oh yes, because no dictatorial leader has taken asinine policy decisions without consultation and damaged the Indian economy. Demonetisation has firmly set us on the path to $5 trillion dollar GDP.
😂😂😂 such a peculiar world view. Indian economy has been under performing for the last 8 years. Growth down. Unemployment up. Manmohan Singh for all his flaws, did wonders during the collapse of 2008. If such a strong policy makers are present, why are they not asking votes on their performance on the economy? Why are they asking votes on temples, cows, and religious polarisation in general?
@@georgejoseph9618 bloody converts . Once baptised they think they are westerners . No wonders these ppl are pissed since conversion money has been blocked
How many loans did India take from China before the 8 years? Kuch bhi? People are so ignorant about the India-China political equations or what! It is the strong foundation on which India is founded, and the principles we strictly kept following from the day 1 which has never let India go astray. Governments will come and go but the country will remain solid, when the constitution is solid! Just like USA, the other bigger democracy of the world!
Religion (Buddhism) and Race (Sinhala) are even more integral parts of Sri Lanka's politics than Islam in Pakistan, especially in the current ruling party.
Indian economy is not in the best state but why are folks comparing us with Sri Lanka and Pakistan lmao. Indian inflation rn is lowest among G-20 nations.
@@KanishQQuotes you mean extremism where you go and play your religious songs outside of mosques, call for genocide, kidnapping rape and murders in the name of your Gods? Then yes you shouldn't listen to them
@@namelessentitywatchingyou8439 The same prayer calls that call for destruction of non believers every Friday? Or the one that declares that your god is the only one? Pales in comparison to Burning a foreign national alive for ripping a poster
Sir you and your show are criminally underrated here on youtube, I would very very humbly would like to suggest you to adopt algorithm friendly stuff like asking people to like the videos. The content is the best, just brilliant!
Another thing common between both the countries is that they have taken huge loans from China. Whoever takes loans from China, especially developing economies, they have all suffered.
It's not just pak or sri lanka but also india as well. We need to watch it out. Already, we are facing so many economic disasters, but the only religious questions are running. Our political leader is only busy in the election
This is what happens when a leader is elected on charm, egoism and personality, coupled with nepotism and with zero understanding of economics and politics.
Lesson for everyone - Economy is the most important factor in country's progress. Once economy is destroyed, everything collapse. This is a wakeup call for this govt. Get people who know economics (instead of historians) and fix it before it becomes too late
@@vishalkrish6425 In this difficult times where we are stuck on the fence vis-a-vis Ukraine war, count our lucky stars to have Modi/Shah duo at the helm. This is not to say everything they have done is 100% approved but they are still the best India could have at present and in the near future.
The free scheme can kill any economy in the world. In india an idiot has started a race of freebies after giving all the free he started crying that his government has no money left to give salaries to employees
The difference in strongman between India, Pakisthan and Srilanka is squarely how corrupt and incompetence the strongman is. In India's case Modi is neither corrupt nor incompetent. hence we will see the opposite of what happened to Srilanka and Pakisthan
Modi may not be corrupt. But he's not that competent either. He maybe right wing socially but economically he is still left. Unless we have an economically right govt, we won't se growth.
This is a fabulous eye-opener for all🙏. I will never forget one of your dictums from a past National Interest "Economy will defeat any regiem (if neglected or mis-managed)" Not verbatim please.
Ignores the horrrendous population increases. From 1950 Sri Lanka 8m to 22m. India 370 to 1300m and Pakistan 35m to 220m. Result poverty famine and ward. A one child policy as in China for two generations is a must.
@@iamdanyboy1 Highest debt-GSDP ratio in FY22 are Punjab (53.3%), Rajasthan (39.8%), West Bengal (38.8%), Kerala (38.3%) and Andhra Pradesh (37.6%).You did not get my point In Delhi Kejriwal could play his Freefund politics because it's UT , enjoys rich treasury and freebies like lowest petrol prices among big metros , now Mumbai contributes one-third of total taxes collected at around 31% with collection of Rs 13.19 lakh crore, National capital Delhi comes with only Rs 1.80 lakh crore according Central Board of Direct Taxes (CBDT) .Mumbai pays 3 times more tax than Delhi and doesn’t get even half of the services Delhi gets .
Actually we should lobby for a bailout for Pakistan under the condition that they give up their nuclear weapons. Also not to mention, nuclear weapons are expensive to maintain - they don't have the fiscal resources to keep them secure.
Never we rather go bankrupt than do that an unstable bankrupt Pakistan all the fingers will be pointed towards india so if we go down we will make sure take you down
@@BruceWayne-qe7bs unlike Russia, we are a Democratic nation. Besides unlike Ukraine, Pakistan does not have a stable form of government or governance. The case for denuclearization is stronger if packaged in the right way.
Shekhar Gupta doesn't realise that he had to let the rupee devaluate so that he could increase exports. Exports are now increasing at 25%. Hence, his policy was in fact correct.
Political economy of the left, barring health and education sector, will always bring hardships for the country. Even for the health and education sector a PPP model seems to be a better option than the only govt lead operations. tax payers < govt beneficiaries, this model is also bound to fail sooner or later. Even after 7 decades of independence, India has a large shadow economy that is beyond the govt taxation and formal economy. Therefore, sometimes govt can’t even help those who really need support due to the fact that they avoided the govt all the while. Modi govt. is on right track but at crawling speed because of people’s nostalgia with communist models.
@ArigatoPopeye12 Yes, I firmly support the reforms of Modi govt including GST. I do not support demonatization, but that ship is already sailed. So, there is no point debating that. As far as GST is concerned, any new tax system would have caused temporary hiccups in the system. But the intent of the GST is to make things easy. If I want to open a business, GST provides simpler tax compliance. I am sure you can google benefits of GST and why 160 countries use it. Funny you mentioned debt to GDP. You can find who is to blame for it. Just open the fiscal deficit graph of Indian govt over last 2 decades. You will find which govt was not fiscally responsible govt. And as I said, I am not happy about the speed at which reforms are being brought in, but I understand why is it like that. Example, farm laws. It was an absolutely reformist move, but we know what happened there.
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Sir..How much is China's role in the economic mess of Pakistan and srilanka..
@@skands706 he mentioned it earlier, china gave loans at quite higher rate. The thing is China delayed payment deadline for Pak., But not in case of S.Lanka.
@@skands706 don’t blame China. Several Indian states are not far behind. Elected leaders always feel compelled to spend for reelection. Especially social spending They always think that can work on it if re-elected.
Please do a ctc on some indian states freebies and concerns raised by ias officers to the prime minister.
"He had been handed a dried lemon and told to make orange juice out of that"
got to love SG's dry humor!
You’re so right. The man obviously loves making these programs. It makes them a joy (regardless how depressing the subject)
@@fordjohnson5321 i keep seeing people wearing brown and black and white why?
@@Uchihaayoub I’m pretty sure it’s not color blindness.
If I were Bilbo I would solve the riddle.
My southern relatives keep seeing black, white and brown skin…
Black flags
Brown shirts
White hoods.
Ummmm I’m out of guesses
I was just checking and making sure someone else already commented this out before i make a duplicate :)
@@fordjohnson5321 no connection with Ukraine?
A subtle warning to political leaders not to keep promising free this, free that to people, and instead use that money to develop infrastructure
When you tax essentials like energy at 150-200% and fake subsidies as in India promises can easily be met (if there's no corruption)
AK
@@Phoenix-lf3kf You must be from heaven where 72 hoors are found.
He wasn't naming any leader or party but why did it pain you so much?
I guess you are talking about Delhi CM and Bengal CM, they are ones giving freebies. Both working under a socialistic model. The best way to go forward is Capitalism, yes it does create a difference between people but at least the government has enough funds.
@@thirdperson2161 your username says everything that the world needs to know about you. You are an Imran agent
I visited Srilanka in 2011 and my Srilankan colleague told me that we import almost everything. I told him that this is an extremely worrying situation that you import everything and unless the county does not start manufacturing its own stuff as much as it can, this is a disaster waiting to happen. And that is where we are in Srilanka.
That is happening in many of the post industrialised countries in Europe, like the UK. If you don't make the stuff, you don't have the stuff in the long run! As simple as that.
This slap on face of those comparing fuel prices of India with Pakistan and Sri Lanka..
Earlier bjp bhakts were claiming we are better than China. Now the target has moved - we are better than Pk/SL
Yeah, compare it with some other progressive countries perhaps which have better social indicators.
India's fuel tax is the highest in the world & having the highest fuel tax doesn't mean a country is doing better. It simply means that the government survives by taxing fuels, which directly affect the middle class ( indirect tax ) while the rich are having fun. In most developed countries, the direct taxes are more than indirect taxes while in India it is the reverse.
Also the problem highlighted by
Mr. Gupta is the dangers of 'subsidies'. India doesn't have fuel subsidies since 2008, what we have is very high fuel taxes that directly contributes to food & other essential inflation.
Why dont we compare car prices between India vs US vs Singapore? Singapore costliest.
It isn’t just dependent on Tourism. Tourism is about 15-20 % of GDP, but yes when 15-20 % of your GDP vanishes, a small country with small cash reserve will fail.
yeah there were other factors like fully organic farming and cutting tax by half , together they made this mess, had it been only tourism then it would have been okay
Dont miss China syndrome trying to be too smart, Sri Lanka landed in gutter.
The biggest problem which Srilanka encountered were the Rajapakshas.
But in India situation is different, Modi Sanghi government is giving tax concession to corporates and lakhs of crores loan waiver to Ambani and Adanis and common people are burdened with high tax rates to compensate the loan waivers to these kind of corporates. Under Modi rule it's not far even India is going to suffer like Srilanka
@@cpselvam1 then...u know atleast basic sense in economy....i know u have problem with ruling party...but u need atleast some common sense...srilanka is entirely different....u a comparing a curse ship with steam boat...first learn fact...not from DHRUVA RATEEE....
Compare this to what Modi did:
1. Gave reasonable freebies (INR 500) compared to RaGa's promise of 7000 - backed by NRI economists who wanted to run a European style experiment of UBI.
2. Streamlined tax collection through GST, plugged the loopholes and kept the GST RATES TO ENSURE REVENUE NEUTRALITY vs RaGa's demand of Singapore style low, flat GST
3. Invested in road infra (didn't give in to populist demand of toll waiver). Invested in Power distribution with conditionality of reducing transmission losses/power theft vs FREE ELECTRICITY offered by RaGa and Kejriwal
MEDIA's TAKEAWAY - STRONG NATIONALIST GOVT LIKE IN SRI LANKA WILL DESTROY THE ECONOMY. WE NEED COALITION GOVT.
hahahahahah....aur thaali bajao....hahahahah
I agree with first and third
But you failed to mention the intentional increase in excise and cess duty on fuel which is increasing the cost and feeding inflation meanwhile slashing corporate tax from 30 to 22% and for new industries to 15% (this applied even to subsidiaries of present corporations). They shifted the burden from the direct taxes to indirect taxes which affects every citizen in the country.
So much similarities:
1. Religious Nationalistic governments.
2. Chinese backed loans.
3. Mis management of finances.
4. Exploitation of government revenue.
5. High inflation and currency devaluation.
6. Imports of essential items on a daily basis (lack of self sufficiency)...
(Writing from Sri Lanka 🇱🇰)
Except for 2, 5 and 6, India is exactly in the same place.
@@BruceWayne-qe7bs I like the idea. In the short term, it will be an impact on the economy. However, long term, it should be a good strategy, esp., trade and other issues.
The lessons we (Indians) should take from this is we also want low GST, low taxes and lot of subsidies, benefits, freebies ("Moon") from our government. But this has consequences.
It's not really about what we want its about what is possible and can the government afford it.
Our debt has increased 2.5 times. And not because of subsidies or freebies.
also mla should not have pensions over pension times after each election
But you failed to mention that tax cuts the government provided to the corporations and tax holidays. Revenue for government should come from direct taxes which are proportional not indirect taxes. Simple example tax, excise and cess duty of petrol is same for person riding a tvs moped and a person driving the rolls royce.
Well said Sumit, it ain't easy in Aust with our taxes.
Subsidies( at the cost) of tax payers keeps our rural agri poor people from starvation. Nobody wants that. Cost of having 1.2 Billion pop.
My Australia 2.8% bigger than India has a pop.of 27 Million...yet we have fuel and food shortages. ....do the math. 70 million sheep, 40 million cattle, 7 th largest wheat producer, oil and gas surrounding our continent, minerals galore. gold AND Argyle Diamonds.
True National Wealth is in People NOT resources in the ground. GO, you Indian youth. Cast aside old hat sectarianism. make a proud future for yourselves ...and your kids.
That's why AAP,TMC are dangerous for this country. Freebies even though states like Punjab are debt ridden. I don't know why shekhar doesn't condemn AAP politics anywhere. Are we waiting for the crises to happen? BJP also falls for this cheap tactic but not to the extent of AAP.
@@0609Bhuwan true.
AAP Delhi govt is running in surplus . Bjp offering free ration to 15 crore population of UP and free laptop distribution. Bjp is the most populist
Bas abdhbhakt babe raho. Gujarat hSas more than 3 lakh crore of debt and madhya pradesh also has more than 3.1lakh crore of debt. Both of these state have been ruled by bjp for the last 20 years almost
I think what AAP does in Punjab will define their image, already Bhagwant Mann is asking for 1 Lakh crores from the center to fund their welfare/subsidy schemes, it's already the state with the highest debt to GDP ration in India, which is a bad sign. Delhi is the metropolitan capital with a large population and economy and obviously there is going to be lots of revenue using which Kejriwal has been providing the freebies, but I think he has not over done it, but comparing Delhi city to other true states is just False Dichotomy, what BJP has done is the make sure that the welfare funded from mostly middle class taxes reaches people instead of being pocketed, it makes sense if some welfare is given to people who have absolutely nothing, but they must be careful to not overdo it.
How does BJP fall? Explain to me again. They are the ones who brought farm laws, which would have reduce the tax burden completely. But alas....
In India there are ppl who think government is evil if it ask for taxes. Also freebies is what everyone wants without thinking what it does to economy in long run.
Think it’s more than people don’t want to pay tax as they know the proceeds are mostly going to be eaten away and only a small % will actually come back to them in form of public benefits.
@@adr2567 this is illogical excuse of justifying I'll intend of not paying taxes. India is not Afghanistan where there is no Infra, security, public service etc. All this we hv in India and whatever is under development is all due to taxes. Some corruption will always be there specifically in developing country like us but things r rapidly improving
Nothing is free
Girish Tyagi but when taxes go towards socialist policies, people will not like paying tax.
In Bandra, the popular Paan - Wallah crore- patti only pays ' taxes' to the hafta- wallahs. His son has a Mercedes he flaunts. Many like these.
Wonder what is the condition of many state economies in India !! Same ultra populist measures of freebies with income coming only from oil taxes and other direct tax revenues. The condition here in Kerala is so pathetic that the state finance minister today stated that they cannot pay the employees of the state transport department and may have to fire off some personnel to manage expenses. The state transport does not even have money for diesel these days. We are so attentive to neighbouring countries economies ignoring our own state economies, more attention please !!
Good in some ways. Kerala transport agency was over employing folks (by about 8k but they claim 4k). It also gives out pensions for 2 years of employment, that's just insane. It's just very poor fiscal management.
I think we should bring bjp in kerala so that ksrtc can be sold to adaniii....thats the only way
@@aaruparanzhu name one country that became successful with socialism and freebies?
Punjab grows two of the most profitable crops in India but it still has a lot of debt which keeps on increasing due to the uncontrolled subsidies being provided by the government. Subsidies are good for a start but should be stopped after some time to let the economy balance itself
God's own state. They should go in for IMF loan, after all they have a stable government and they can afford to helicopter some more freebies to their constituents in the name of development.
Happy to be a bangladeshi , we have come a long way with very limited resources after watching other neighbors.
U guys have come along very harsh years. U were supposed to be a poor country for lifetime, as mentioned by some foreigner economist. But u r continuosly increasing country capital. 👌. 💯
As long as you guys don't embrace radical Islam, hatred, and become morons, u will b safe. Otherwise ur state will b worse than Pak n Lanka. History as shown that you guys are normal n sensible till prosperity comes, after that you guys transform into fanatics, and kick rationality out and embrace Deen, the mullas and what not and generally start believing that the whole universe is your responsibility
Well done BD. Keep it up, and stay away from religious extremists.
It is because of leadership of Sheikh Hasina. Despite of Indian hegemony she is not blindly tilting towards China unlike Pakistan, Sri Lanka n even Nepal to some extent. At present Nepal also on right track like Bangladesh.
On a lighter note, we can get to know about weather of New Delhi from costume opted by Guptaji.
Srilanka's experience shud be a lesson for Indian politicians but they will not learn
Don't worry everybody is going to leave this country sooner or later. We are from the middle class, we or our children will migrate to UK or US or Dubai soon. This country is not inhabitable for the middle class anymore.
@@harshb747 yeah please leave immediately, its getting crowded here,
@@harshb747 unless you are a professional or have special skills and moving with a job offer paying a minimum of 150k a year, moving to the US or UK is going to be a shock.
Their middle class is both dying and being squeezed to death at the same time.
@@harshb747 Yes please move. People like you aren't worth it. If you think petrol prices are high here, go to the west and see. If you think taxes are bad here, please move and see. If you think cost of education and inflation are bad, then once again, go and see 8% inflation in the USA.
@@harshb747 Dude India is actually growing while west has been in decline for a while. Sure you can escape but you'd do far more with your skills here than in those countries.
This should be an eye opener for the people of punjab and delhi...
Populist schemes should be for only those who are really poor.
Election commission should take a note of this.
Especially punjab, because the centre can swoop in and take over delhi quite easily as it is still a UT but Punjab will be f*ucked because centre cant do shit
And some one here doesn't have knowledge on Andhra Pradesh 😂😂
BJP populism is only for upper caste Hindus.
@@saadbinrehman8186 no no it is for all the Hindus....as well as converted Hindus....
Since there are no Arab or Turkish muslims are living in India.
Punjab and Delhi state government will be bankrupt soon because of freebies and rampant corruption at all level
Appreciate the brilliance around data, research, topic, storytelling. Worth every penny that I've subscribed to. Congratulations to team Cut The Clutter...
Hello Ramesh ,where did you lose your t?
@@addabhatt6934 haha ....👌
@@addabhatt6934 I got an extra 't' I can lend him one
There is no substitute for data when it comes to weaving a story around political economy. It makes you understand the so called "policy decisions" at its very core are actually economic decisions.
Where do you stand on islamic ideology that all non believers would burn in hell and they should be killed ? Are you okay in singing vande matram and saying Bharat mata ki jai? I know this is a personal question but I have seen you asking questions on print many times. Hence, asking to know what ideology do you support
Economists are the real technocrats. Everything follows money.
Sir how about a CTC on debt challanges of our states... Many states are literally undoing reforms (pension schemes)... Punjab is in a mess.... Gujarat got debt trap warning by CAG... please do a CTC on financial health of our states and consequences if they do not rectify
Also Telugu states AP and TG
Kerala's finances are an absolute mess
UP is the worst at the moment with other bimaru states following it, they are eating tax revenue of dravidanaidu and breeding crazily paying no taxes and increasing crime throughout India
@@AJ-qs8wn 1
Maharashtra
Rs. 4.25 lakh crores
130.74 lakhs
2
Delhi
Rs. 1.66 lakh crores
43.04 lakhs
3
Karnataka
Rs. 1.20 lakh crores
51.47 lakhs
4
Tamil Nadu
Rs. 74,238 crores
56.26 lakhs
5
Gujarat
Rs. 49,021 crores
74.80 lakhs
6
West Bengal
Rs. 44,638 crores
56.21 lakhs
7
Andhra Pradesh
Rs. 46,222 crores
38.34 lakhs
8
Haryana
Rs. 29,881 crores
29.72 lakhs
9
Uttar Pradesh
Rs. 27,687 crores
78.22 lakhs
10
Rajasthan
Rs. 21,059 crores
47.81 lakhs
GST should be sharply increased.
Also, Central government should reduce the excise duty on Petrol and Diesel.
People who vote for parties which promises to giveaway everything for free should learn from both of our bankrupt neighbours.
Because in return for freebies you might actually end up paying everything you have ever owned.
Leftist and Communist governments don't understand that. Freebies are a way for very easy populism and then form governments but ruins economies
If you are heavily debt ridden then may be govt.should think of generating sources of revenue, not selling public companies. The example of feku govt. is prime example of how not to run a govt.
@@udaikumar1782 🤦♂️🤦♂️ Whatsapp university student
@@perspective500 bhakts are strangely the main students of WhatsApp University.
@@udaikumar1782 don't care who you support or not. But your comment is alarmingly uneducated though. Sad reality of India I guess.
Budget is public from all the countries and of all the time, but seems you didn't make any effort looking it up, and yet hold strong opinions on it.
Seething with hatred it seems...
These analysis are almost like podcast , where i can just plug headphones in and listen to it whilst doing other stuff. Brilliant analysis and great video . Always looking forward to next cut the clutter, good job! Keep it up! The print team.
SL and Pakistan economic crisis ...a lesson for small islands and countries ...don't fall into the China debt trap
Correct ..But I wonder why this gentleman forgets to mention China factor...
China is a vulture that feeds on dying economies. In this video, he is mentioning the reasons that caused the economies of pakistan and sri lanka to get into this dying situation.
@@ganeshhirve6257 Because China isn't the sole cause. Saying China and leaving is the easiest way out. There are other factors namely incompetent governance causing it
@@1uamrit but isn’t it one of the causes? Why has he not even mentioned it?
It’s a lesson for us - IndiA, to onboard strongmen politics / religion centered politics that eventually corrode the country’s institutions.
Graphs and charts are the best way to show comparative data. Thank you sekhar ji for bringing this to us
How did you miss the following:
(A) the wealth ill-accumulated by RajaPaksa’s family
(B) China’s debt trap
One thing in common with them is corrupted China hidden debt trap.
As because he is a Chinese stooge🤨
You should check out Bloomberg's video on "The myth of the Chinese Debt trap" in which they explain how people exaggerate China's investments as debt traps. I'm not siding with China but if your country was incompetent enough to not be able to pay the loans it owed it's not their problem. Moreover, the IMF isn't any less harsh in their practices either when a country fails to meet their standards. Just because China is now an economic superpower and invests in other countries, doesn't mean every problem in other countries is because of them.
@@raunakshahi but how come all the countries which took Chinese loans are in a precarious position ??
@@slayer1980 I would say it's more like all tje countries which are in a bad position are in a lot of debt from vrious parties, China is just one of them. I'm sure China does practice debt trap diplomacy but it's not nearly as bad as people think
Excellent analysis 👏 goof comparison between Pakistan and Sri Lanka.
You're one of the few channels with an informed and nuanced take on this subject. I just saw some Zee TV type channel with the headline Ravan ki Lanka khatre main !! 😅😅
😂😂🤣🤣🤣 but it's good for entertainment.
😂😂😂😂😂😂🤦🤦🤦
Zee tv jokers even make fun of war in Russia Ukraine by similar headlines ..
@SURIYA SILVERLANCE at this point i wouldn't blame south india asking to separate themselves from India
@@karankapoor2701 we have similar jokers here... don't worry😅
@SURIYA SILVERLANCE Deepak Chaurasiya .. aka Kawwva 😅😅
Srilanka being a tourism based economy crashed during Covid 2 years as tourism dried up totally. There's a lesson there not to rely on one sector alone.
Please educate yourself . Tourism is only 12% of GDP.
@@azwaanameer 12% is really huge number.
@@prashanthraj3416 12 % doesn't qualify for being a mainstay. Fact is SL is simply underdeveloped and hence more susceptible to a jolt however minor.
@@azwaanameer - Thanks.
@@azwaanameer It is 15% and that is enough to wreck an economy
Hi SG,
Another well researched episode. The USP of your episodes are story telling abilities that to with easy language to understand and without heavy dictionary words.
I have one question which you didn't clear in this episode - impact on India with neighbouring countries in trouble.
Shekhar sir, in India too we have extreme populism, polarised nationalism and perhaps not dictatorial, but very strong and powerful government.
What is stopping us from becoming a SL or PAK?
What is the Modi government doing right to not have India follow our neighbours?
Common sense and many leaders of high statures
Institutions, frequent elections
They have keen eyes on sri lanka and pakistan and we have very good desicion makers IAS and IPS who must have told what not to do to Prime minister. Yesterday only 4 hours meeting happened between pm and all the minster warning them from freebies and sri lankan crisis.. I am very sure they will do something...But it is hard in a country like india where opposition literally oppose everything, eg. farm laws..
We have a diversified economy, it's getting even more diversified now, idk about al-Bakistan, but Lanka's economy was dependent on tourism and remittance( like Lebanon ) and low exports of tea and ready made garments.
Besides we have strong domestic consumption economy also, because of our size I think, Lanka has just 22 million people, that's less than even Kerala
One lesson for all Indians. Never elect Family based parties.
Nope!
It is lesson for not copying religious fundamentalism anymore. Adding to it never vote for those who promise more freebies. It a lesson for congress party and coastal indian politicians also. Who never talk of capital creation instead only thing they have learned offer more freebies
If more than 70% of the budget goes towards military expenditure, an activity that creates no wealth, that nation is doomed to fail.
Pakistan has been treading the same path of USSR since 1947.
Prior to 1971, it was looting East Pakistan and was getting massive aid from gulf and Western countries.
After 1971, East Pakistan from where Pakistan used to get 70% of its foreign exchange became Bangladesh.
With the end of cold war and war in Afghanistan, aid from Western countries also started dwindling.
Now economic health of gulf countries is not so good.
Hence, aid from gulf countries are also reducing.
In other words, today's Pakistan used to be the recruitment ground for colonial British India Army without the economy to sustain the same.
Pakistan, is existing on borrowed time.
Comment from a Pakistani living in US:
I disagree with most of what you said except that last part where you said the area that constitutes Pakistan was a recruiting ground for British,especially the belt from Rawalpindi to Jhelum.
You said Pakistan received aid from Gulf prior to 1971.Wrong:Gulf countries hardly existed before 1971 and it was not the aid that fueled Pakistan’s economy,it was the massive inflow of remittances that started in 1973 after the oil boom.
“70% of the budget goes to military”,wrong again.Thats exaggeration.Only 17% of the budget went to military.But the major chunk goes towards debt servicing.
For a country that inherited only one textile mill in 1947,we haven’t done that bad.From 1947 to 2020 the economy has grown every year at a healthy average of 4%.
Agreed there are serious economic problems made worse by poor planning and political crises.
@@varunsriniwasan6561 feudal somewhat true…..
@@masti5102 the decline started with a heavy dose of puritanical Arabic ideology...the downhill journey started from then on...
@@BruceWayne-qe7bs agree with you
Imran is a god gifted taufaa for india.
Instability in pakistan is good for india. The more destabilized Pakistan is the more secure we are.
No necessarily. It is never a good idea to have a destabilized neighbour.
Pakistan should destabilize more and eventually dissolve and form 3-4 new countries, so that our western borders will be peaceful and we could focus on China.
Recently there was a PIL in the SC against freebies during elections. That read along with the alarms rung by the secretaries in yesterday's meeting with PM and the CAG's reports of various states, feels like a tide is incoming! Thanks for the data crunch SG sir!!!
Strangely , Delhi is the only surplus budget state right now, whereas when Kejriwal took over it was in heavy negative mess. I wonder how he did it.
@ArigatoPopeye12 of course he will be arranging multiple robust sources of revenue before giving freebies. Punjab was heavily ridden by mafias where all the sources of revenue were controlled by them and blocked from going to thr govt. coffers. Honesty really does matter a lot. Arranging robust sources of revenue that overshadows expenditure is the key.
@ArigatoPopeye12 i am from Punjab, yes u said it right. Delhi can't be compared with a debt ridden full-state.
First stop loan waivers to corporates. They are the biggest looters of this countries wealth.
@@udaikumar1782 Every single comment of your is full of inane rhetoric that has no real substance. Man aap needs better marketers
If congress had won in 2014 and 19...even India would've been in similar situation. Thank God.
@@prettybasic9545 exactly that's when Pv narasimha rao steered India out of trouble that's why fake Gandhi's of today hated him for.
@Vasu Bs@@prettybasic9545 True that. I guess the Bs in Vasu Bs stands for Bullshit.
@@prettybasic9545 what about the scams we got under congress rule ? Economy had gone for a toss ....
Cut the clutter. Never has a title been so correct. As usual SG tells it straight so all can understand. I always look forward to your unbiased well considered statesman like insightful opinion. Thank you Mr Shekhar Gupta.
Sir, the gdp is denominated in dollars. The PMLN kept the USD:PKR at Rs.105 artificially. When it was allowed to rise, the PKR went down to Rs165 a dollar. If you evaluate the GDP in dollars and compare between 2017 and 2018, you hv to take into account the artificial dollar parity.
An Indian having such deep knowledge regarding the economy of pakisyan is commendable.... Most people don't get this as the dollar was artificially maintained and billions were spent to sustain the economic ruse
Imran’s 3++ years rule gets an A+ for selling the Riyasate-Madina utopian govt promise to Pakistanis and F- for handling Pakistan economy. Poor guy realized that there is no money left after paying Army salaries and interest on country’s past loans. No World Cup for Imran 😊
I dont know what are the motives of this video, almost all the quoted figures are wrong & this research lacks the basic economic sense.
Video is referring 2017 for comparison, However it was August 2018 Imran took over.
Further the dollar rate was 128 instead of 118 when he took over but Pakistan's economy was carrying a Current Account Deficit of 20 billion dollars which became the reason of inflation and gdp per capita going down.
Professor Azhar's name was also used, his only drawing is, the effects of inflation on rich n poor, he merely uttered a word beyond this while it seems that all the quoted figures in this video are coming from him.
Talking about Imran's govt, exports are all time high imports are all time low, tax collection is almost double, trade deficit is lowest ever, remittances are highest ever, we have 5 bumper crops all things are going in right direction. I wonder what u have quoted is intentional or it is copied from someone who is spreading anti govt sentiments in Pakistan.
Further another mis concept is being spread that Imran is using religious Nationalism as a political stunt and that has made economy going down, No Sir.
Imran has launched Langar khana where anyone can go and eat food without paying a single penny, he has opened hundreds of shelter homes for homeless a recent research says that 99% of homeless who had to sleep on the roads are adjusted in the shelter homes.
He has introduced health card for every Pakistani, to have health insurance coverage of 1million per family per year. Any Pakistani can go to any state of the art private hospital.
The above actions/initiatives come under 'Ehsaas program'. The masses are greatly inspired by Imran's vision and his contributions towards humanity.
There has been a conspiracy by USA to overthrow Imran's government, which is well endorsed by National Security Council, which has become the reason for the dollar to go up as there can be consequences after Imran's visit to Russia. Building a narrative of ur own, drawing silly conclusions which are not even closer to reality are somewhat very astonishing.
I have narrated few examples the reader may Google any of them to have a better understanding.
Imran's popularity has increased exponentially he just did the largest procession in the history of Pakistan on 27th March.
Gupta gee has some personal issues with Imran, i believe so.
@@azeemiqbal9641 bruh you so blind and stupid....Pakistan's exports are almost constant and hasn't increased a bit since 2011. Infact they are significantly lesser than Bangladesh's. Now Pakistan has to import more hence the increase in trade deficits.
@@azeemiqbal9641 You spoke my heart out. I completely second you brother
@@azeemiqbal9641 plz post this in the main comment section
@@jahirislam already did
Since school days even now when I study back the economic subject from class IX - XII the NCERT books emphasis that our India lacks behind in economics in comparison to Sri lanka & Pakistan Now I think 🤣 NCERT has to re-edition it's contents to suit the current situation
Only Sri Lanka and not Pakistan in ncert
@@anshagrawal6289 check it out I m not saying in all indicators but only few in which Pakistan was ahead
Once upon a time, in per capita terms, SL and Pak were ahead of India.
U WhatsApp student?
Leftists bigots write those books .
A very timely episode SG. Excessive populism, religious fundamentalism and elected autocratic govt. These are very crucial warnings for all Indians at a moment where our democracy is increasingly under strain from polarizing and fractious politics. Keep up your fine work 😎👍🏻
Nothing is free. Someone has to pay. Vote out the freebies from politicians.
Pease replace the name Gotabaya to Modi, then whatever said by Mr.Gupta is applicable. What a fantastic explanation. So, when we will be in Sri Lanka's condition?
Shekar Ji, I quote Paul Samuelson on two of your points: "What we know about the global financial crisis is that we don't know very much." ~ Paul Samuelson and truly another: "Globalization presumes sustained economic growth. Otherwise, the process loses its economic benefits and political support." Excellent analysis Sir, I don't regret now having to watch "News Channels with all the shouting. It does not give any analytical solution. Paul Samuelson
Central Government of India 🇮🇳 should put lid on State s freebies, populist schemes and borrowings like TN DH PN WB etc 😇🥵
These state governments run the nation dry...kind of parasite states...
Then how will they win elections? Indian people love freebies.
and UP 5 kg ration scheme too should be full stopped.
@@udaikumar1782 Food Housing and Health are Basics.
@@udaikumar1782 is that for all citizens in UP ?
Inflation is invisible tax on people which affects poor more.
Jessore University of Science & Tech. in Bangladesh🇧🇩 is ranked as number 1 university in Asia ahead of National University, Singapore. Thanks to Shekhar
Surprising !! We haven't heard anything from Shekhar Gupta on Birbhum(West Bengal) !!Is Mr Gupta scared of "Didi" !?? Will wait & watch !!
What was the clutter there???
@@plt7915 aru u an infant ?
You make my day every single day. Shekhar sir. I fight, debate with people on whose the single best journalist in the world not india in the world is you.
So clear so earthy.
People love to blame the IMF especially on the left, but the truth is no one ever follows all its prescriptions. There are too many vested interests to allow tax reforms and poor subsidy delivery mechanisms that are first to fail in every IMF program. Even after 30 years India hasn't managed all the reforms that were to be done back in 1990-5, direct tax code is still no where and decontrol of fuel prices can be called partial at best, privatization is only being taken seriously.
Don't tell stories IMF is evil, it wrecked many countries
@@thunrou Go read what has happened to IMF programs and their actual implementation. Don't go by what you're told go read IMF press releases and real budgets of countries under their programs. This b.s. narrative about IMF wrecking countries is mostly by people who don't look at what is actually implemented and talk in abstraction about so-called neoliberal policies.
People of India should carefully chose their leader. Example is right in front.
Reminder : India’s per capita GDP has also seen record drop post LPG much before the Covid crisis and we are seeing huge inflation. Our economic policies have been counterproductive and yet somehow the govt just got away with barely a slap on the wrist
No...
India's GDP per capita didn't fall before 2020 (covid crisis)
@@satyam4827 It started falling in 2018
I don’t know where you are getting your data from . The impact of Covid would be seen in 2021 numbers
@@kaustubhshukla6462 world bank ki website se data dekh ke bol raha hu bro ..
@@kaustubhshukla6462 GDP growth rate fell, GDP itself didn't fell before 2020.
@@kaustubhshukla6462 It was the growth rate that fell not the Absolute numbers. Please read the data carefully. The GDP per capita declined in absolute numbers in 2020-21 year
Perfectly explained the ground realities of our neighbourhood..
According to Mamata Didi , India's Position is worst than Sirlanka n Pakistan.
Pl send this to Didi we well be grateful to Sheakar Gupta...😉😉😉
I loved the head head tilt at the end "Unless you are listening to the wrong kind of people". Shekhar Sir is not holding back here.
Good insights.. One critic is that Stock market is not a indicator for real economy as shown in the graph (around 6 mins of this video). Stock market should be secondary indicator as majority of the nation's population - during a economic crisis - do not look to the stock market
An eerie premonition of what's going to happen in a few Indian states now doling out extreme populist measures.
Reading between the lines, SG gives subtle and strong warning to India. Extreme populism, Elected dictatorial tendencies, religious fundamentalism
Was just looking such a comment
You forgot some keywords there.
From Asad to Putin to imran everything a hint to India? Atleast select one.
Religious fundamentalism already happened in 1947 when Pakistan born due to different religion.
Hindus fighting state discrimination is religious fundamentalism. 😁
Informative speech...thank you Sir
As a layman I can say that, if one is over - friendly with China, this is bound to happen. I have seen the sad scenario in Nepal in 2018. Nepal was too friendly with China.
Agree 🙏
This was a really great explanation with a comparative narrative. Thankyou !
Thats what congress did in india. They promised cheap fuel and now we are paying the bills
Very well explained. Thank you
This is the very thing AAP is doing to win votes in India. The Centre has bailed them out many times in Delhi. Hope it stops, else India too is headed the Srilanka way of economic doom thanks to Kejriwal's lack of conscience and anti national stance
"anti-national" stance ? So, by giving back to the people what people had given in the form of taxes is anti-national ? Srilankan economy was ruined because of its debt ridden status and fake looting and corruption along with no original thriving of manufacturing and businesses. Sri Lankan economy was dependant on exports of specific products only .
Delhi is the only state having surplus budget , mind you . And Delhi gives farther more taxes to the centre per person. Centre is least helpful in finances and efforts towards Delhi. It is because of thriving businesses catalysed by AAP policies that Delhi is running very good. Opposite to feku govt. who is running govt. by selling public companies in penny values.
@@SuperSandboard kisne bithaya bathha Air India ka ?
When we have states like UP and Bihar which adds a lot to our GDP, states like Delhi and Kerala can do what ever they want.. a sort of balancing act.. Thanks to Modi our supreme leader..
@@SuperSandboard it's time of wastage bhai
He will not listening to anybody
AAP lobby is blackmailed his mind,
People should influence by govt, but should not follow blindly to any leader, same goes for BJP-INC
So basically, Rajapaksa khandan ne khud ki "Lanka laga di hai" both literally and figuratively. And Imran Khan took his own wicket.
phew, we are so lucky to be in India!!!
I just have a wish that someday I can get opportunity to have a talk with sg sir on such topics,he seems like the person who is seeing a topic from every aspect with 10 eyes ... I m a medical professional but still love to follow national and global politics...
Beautifull analysis of situation.
Glad India has strong policy makers in place over the last 8 years! If not, pappu would have taken loans from China, and then led India to a very similar situation.
oh yes, because no dictatorial leader has taken asinine policy decisions without consultation and damaged the Indian economy. Demonetisation has firmly set us on the path to $5 trillion dollar GDP.
😂😂😂 such a peculiar world view. Indian economy has been under performing for the last 8 years. Growth down. Unemployment up. Manmohan Singh for all his flaws, did wonders during the collapse of 2008. If such a strong policy makers are present, why are they not asking votes on their performance on the economy? Why are they asking votes on temples, cows, and religious polarisation in general?
@@georgejoseph9618 bloody converts . Once baptised they think they are westerners . No wonders these ppl are pissed since conversion money has been blocked
How many loans did India take from China before the 8 years? Kuch bhi? People are so ignorant about the India-China political equations or what! It is the strong foundation on which India is founded, and the principles we strictly kept following from the day 1 which has never let India go astray. Governments will come and go but the country will remain solid, when the constitution is solid! Just like USA, the other bigger democracy of the world!
@@georgejoseph9618 khangressi chamcha spotted 🙄
Clear explanation of the situation
Religion (Buddhism) and Race (Sinhala) are even more integral parts of Sri Lanka's politics than Islam in Pakistan, especially in the current ruling party.
What has Buddhism got to do with it?
Asian Tigers and Japan, etc are Buddhist but it has not impacted them adversely.
@@dineshpratapupadhyay6583 You clearly need to read more about Sri Lanka's and Burma's forms of Buddhism.
Very well said of these 2 countries. Excellent work using good and well researched statistics
Indian economy is not in the best state but why are folks comparing us with Sri Lanka and Pakistan lmao. Indian inflation rn is lowest among G-20 nations.
Who's saying that?
India is doing well
@@shohartoislam7106 near g 20 ? What is your point ?
@@shohartoislam7106 India is in G20 not because of per capita income but because of GDP. India is 3rd biggest GDP in PPP and 6 in GDP nominal.
@@AJ__4678 ok
👌👍 thanks for the good analysis.
Listning to the wrong kind of people can land the whole nation in big trouble.
Does that include religious extremists?
@@KanishQQuotes No that is not included. Religious extremism is part of the Holy book and should be followed to the Hilt!
Especially woke people
@@KanishQQuotes you mean extremism where you go and play your religious songs outside of mosques, call for genocide, kidnapping rape and murders in the name of your Gods? Then yes you shouldn't listen to them
@@namelessentitywatchingyou8439
The same prayer calls that call for destruction of non believers every Friday? Or the one that declares that your god is the only one?
Pales in comparison to Burning a foreign national alive for ripping a poster
Sir you and your show are criminally underrated here on youtube, I would very very humbly would like to suggest you to adopt algorithm friendly stuff like asking people to like the videos. The content is the best, just brilliant!
State Governments in India are similarly Fiscally irresponsible barring few(Eg: Gujrat with 1.5 % Fiscal Deficit even after Corona)
Punjab , Kerla , Rajasthan all of them going to fail. Freebies culture does not work.
Excellent, objective data driven narrative
How true these statements about dictatorial leader is for another leader. God save us.
Thank you Mr. Gupta.
Another thing common between both the countries is that they have taken huge loans from China. Whoever takes loans from China, especially developing economies, they have all suffered.
Totally not correct.
It’s pure bad politics.
It's not just pak or sri lanka but also india as well. We need to watch it out. Already, we are facing so many economic disasters, but the only religious questions are running. Our political leader is only busy in the election
This is what happens when a leader is elected on charm, egoism and personality, coupled with nepotism and with zero understanding of economics and politics.
Sounds like India.
Seeing the Rajapaksas run Sri Lanka into the ground makes me relieved India threw out its own corrupt family dynasty!
Lesson for everyone - Economy is the most important factor in country's progress. Once economy is destroyed, everything collapse. This is a wakeup call for this govt. Get people who know economics (instead of historians) and fix it before it becomes too late
Hahaha , the economy was in more trouble in upa 2 when the so called economists ruled the country . You need dedicated leaders , which we hav now
@@25nrs ha ha. When it comes to economy, numbers talk, not monkey baat. Avg GDP under UPA - 8.32, Avg GDP under modi - 3.46
@@vishalkrish6425 conveniently forgetting Covid does not help. Post Covid growth is good.
@@vishalkrish6425 In this difficult times where we are stuck on the fence vis-a-vis Ukraine war, count our lucky stars to have Modi/Shah duo at the helm. This is not to say everything they have done is 100% approved but they are still the best India could have at present and in the near future.
@@keerthisureshseelam GDP decline started in 2016. Covid was in heaven at that time. Come up with better excuses
Very well done analysis and drawing parallels between the two countries.
Key metrics: Inflation, GDP per capita, currency exchange ..
The free scheme can kill any economy in the world. In india an idiot has started a race of freebies after giving all the free he started crying that his government has no money left to give salaries to employees
Nice again !!! From Bangladesh
The difference in strongman between India, Pakisthan and Srilanka is squarely how corrupt and incompetence the strongman is. In India's case Modi is neither corrupt nor incompetent. hence we will see the opposite of what happened to Srilanka and Pakisthan
man to think that people like you exist who believe Modi is not corrupt is mindbogling.95 percent of all politicians are corrupt idiot
Modi may not be corrupt. But he's not that competent either. He maybe right wing socially but economically he is still left. Unless we have an economically right govt, we won't se growth.
Modi is incompetent
This is a fabulous eye-opener for all🙏. I will never forget one of your dictums from a past National Interest "Economy will defeat any regiem (if neglected or mis-managed)" Not verbatim please.
Data collection and Analysis is amazing.
Pakisthan and Srilanka have one very important thing - they have taken lots of money from China who is worst loan shark out there.
Very accurate explanation. But sadly the actual inflation is much much worse in Sri Lanka. Another thing to add is extreme corruption
And Srilanka and Pakistan are doing much better than India in happiness Index .
Ignores the horrrendous population increases. From 1950 Sri Lanka 8m to 22m. India 370 to 1300m and Pakistan 35m to 220m. Result poverty famine and ward. A one child policy as in China for two generations is a must.
SG please make CTC on indian States that are heading towards Doomsday irrespective of which party is ruling specially Kejriwals free economics.
Highest debt ratios are in Gujarat , Punjab , Haryana and Madhya Pradesh. Delhi is filthy rich.
@@iamdanyboy1
Highest debt-GSDP ratio in FY22 are Punjab (53.3%), Rajasthan (39.8%), West Bengal (38.8%), Kerala (38.3%) and Andhra Pradesh (37.6%).You did not get my point In Delhi Kejriwal could play his Freefund politics because it's UT , enjoys rich treasury and freebies like lowest petrol prices among big metros , now Mumbai contributes one-third of total taxes collected at around 31% with collection of Rs 13.19 lakh crore, National capital Delhi comes with only Rs 1.80 lakh crore according Central Board of Direct Taxes (CBDT) .Mumbai pays 3 times more tax than Delhi and doesn’t get even half of the services Delhi gets .
@@greattrainjourneys8076 ok sorry. I had wrong data I guess.
Yeah. Delhi is filthy rich. Can't even mismanage enough to wreck it.
Shekar is now the superstar of digital media
Actually we should lobby for a bailout for Pakistan under the condition that they give up their nuclear weapons. Also not to mention, nuclear weapons are expensive to maintain - they don't have the fiscal resources to keep them secure.
So you think Indian economy is doing great after covid storm to give bail out packages just for nuclear weapons which they can reproduce?
Excellent!!!
Never we rather go bankrupt than do that an unstable bankrupt Pakistan all the fingers will be pointed towards india so if we go down we will make sure take you down
They will take your money and not give up their nuclear arsenal.
Add kashmir annexation to India.
@@BruceWayne-qe7bs unlike Russia, we are a Democratic nation. Besides unlike Ukraine, Pakistan does not have a stable form of government or governance. The case for denuclearization is stronger if packaged in the right way.
Woww sir such a complete analysis hats off to you
Shekhar Gupta doesn't realise that he had to let the rupee devaluate so that he could increase exports. Exports are now increasing at 25%. Hence, his policy was in fact correct.
Sounds very familiar to what Modi is doing to India😂 Carry on, SG!
How.....non bjp states are more indulged in freebies.
Indian gdp growing with 9.2percent and we have 600 billon doller,🤣 u are living in dream
Another good piece. Thanks.
Political economy of the left, barring health and education sector, will always bring hardships for the country. Even for the health and education sector a PPP model seems to be a better option than the only govt lead operations. tax payers < govt beneficiaries, this model is also bound to fail sooner or later. Even after 7 decades of independence, India has a large shadow economy that is beyond the govt taxation and formal economy. Therefore, sometimes govt can’t even help those who really need support due to the fact that they avoided the govt all the while. Modi govt. is on right track but at crawling speed because of people’s nostalgia with communist models.
Cool points 👍, happy to know that not all are Socialist
@ArigatoPopeye12
Yes, I firmly support the reforms of Modi govt including GST. I do not support demonatization, but that ship is already sailed. So, there is no point debating that. As far as GST is concerned, any new tax system would have caused temporary hiccups in the system. But the intent of the GST is to make things easy. If I want to open a business, GST provides simpler tax compliance. I am sure you can google benefits of GST and why 160 countries use it. Funny you mentioned debt to GDP. You can find who is to blame for it. Just open the fiscal deficit graph of Indian govt over last 2 decades. You will find which govt was not fiscally responsible govt. And as I said, I am not happy about the speed at which reforms are being brought in, but I understand why is it like that. Example, farm laws. It was an absolutely reformist move, but we know what happened there.
You are right.
@@sahilbhatt7928 very good points, well said