Indian Economy

[helin]

Simply it's a delusion for someone who don't know their aukaat. Even China doesn't produce much components for Apple. Most of the Components are American, European, Korean and Japanese.

Of Apple's 200 most important global suppliers, more than 80 percent have factories in China

 

[Knowitall]

I am not sure what is your problem with taxing sin goods. Things like cigarettes, tobacco products, sugary beverages deserve 35% GST tax rate. India has confirmed 100 million people with diabetes. Recently Lancet claimed it is in fact 200 million. Do you want more people with diabetes and cancer? Pan, Gutka, cigarettes should be taxed to hell. Sugary drinks Pepsi and Coke deserve the same tax bracket. Our healthcare is going to skyrocket if we don't take steps to control the consumption of these unhealthy goods.

Are you that naive to think that this is a health concern? That tai decided to wake up one day and make India healthy again?

They are adding a 5th slab at 35% in GST. Currently slotting two category of goods into it. Next year they will move the entire luxury items lot from 28% to 35%.

These taxes are punitive and once implemented are irreversible more or less.

 

[FalconSlayers]

Of Apple's 200 most important global suppliers, more than 80 percent have factories in China

We are talking about in terms of %age of total components of value. China afaik is still below 50% as a large number of apple's suppliers are distributed across the globe.

 

[sameer]

Indonesia has made mandatory that for phones to be sold in their country - 40% of the components should be manufactured in Indonesia. Because of which iphone16 cannot be sold. Indonesia is expecting Apple to invest 1 billion dollars to meet criteria.

Do you think India shall go to this route if PLI does not bring required localization? Can India withdraw from ITAR?

Such laws will sow uncertainty and scare away investors for decades to come. This rule might be their retrospective taxation moment.

But, anyway, Indon middle class is apparently shrinking. Iphones don't even have a serious market there. Weirdly enough, they even banned pixel phones btw.

Millions of Indonesians fall into digital debt trap as spending power wanes

Many middle-income earners caught out by stratospheric interest rates

asia.nikkei.com

https://www.benarnews.org/english/news/indonesian/indonesias-shrinking-middle-class-alarms-economists-09132024151821.html

Technically, we can withdraw from the ITA agreement, but again that sends negative signals to any investors. Better to lure them with sops and non tariff barriers.

 

[ArjunMK1A]

I am not sure what is your problem with taxing sin goods. Things like cigarettes, tobacco products, sugary beverages deserve 35% GST tax rate. India has confirmed 100 million people with diabetes. Recently Lancet claimed it is in fact 200 million. Do you want more people with diabetes and cancer? Pan, Gutka, cigarettes should be taxed to hell. Sugary drinks Pepsi and Coke deserve the same tax bracket. Our healthcare is going to skyrocket if we don't take steps to control the consumption of these unhealthy goods.

I believe the GST was supposed to have very simple slabs.

But we are already having 5,12,18 and 28 and now here comes the 35. Already the 28 is crime for automobiles where we are spending upwards upto 45% in tax alone. Then we are again paying criminal prices on Petrol/Diesel since all states is not ready to want GST fearing they will loose revenue. No states have guts to do because all of them involved in Dehati money lending.

Now the new 35% targetting sin goods is fine. But IAS Babus will started to redefine sins and will use the bracket for some money making.

 

[ezsasa]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians



saw this text floating a few days ago on twitter, unfortunate that a person who was holding secretary rank is also buying into this nonsense.

 

[Nibbler]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians

View attachment 17604

I'm going to author a book about the difference between gdp and wealth and send it to him.

also

>posting on linkedin

cringe

 

[ezsasa]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians

View attachment 17604

saw this text floating a few days ago on twitter, unfortunate that a person who was holding secretary rank is also buying into this nonsense.

ok so the guy is on social justice chooran.


View: https://x.com/anilswarup58/status/1864256670949322784

 

[srev2004]

lol he is removing wealth from annual domestic production. What a dumbass!

 

[Cheepek]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians

View attachment 17604

saw this text floating a few days ago on twitter, unfortunate that a person who was holding secretary rank is also buying into this nonsense.

Top babu does not know the difference b/w stock and flow, amazing

 

[jaijaganath]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians

View attachment 17604

saw this text floating a few days ago on twitter, unfortunate that a person who was holding secretary rank is also buying into this nonsense.

Don't tell me this sr Babu doesn't know difference between income and wealth
Even it's mentioned in the text per capita income and wealth
Uncle ji should reduce his WhatsApp engagement

 

[ezsasa]

Top babu does not know the difference b/w stock and flow, amazing

now the chances are that there are in service top babus who do not know.

 

[crazywithmath]

Do you think India shall go to this route if PLI does not bring required localization?

No. We have had similar policies in the not so distant past. Did not work.

Can India withdraw from ITAR?

ITAR does not cover 'phones'.

 

[crazywithmath]

are these points related ?

the way GDP is counted, when Indian based companies produce offshore.

Not sure. Will have to do some detailed number crunching.

 

[Blademaster]

Anil Swarup , Ex-Coal secretary of Govt of India

Books he had authored :
- Ethical dilemmas of a civil servant
- Not just a civil servant
- Encounters with politicians

View attachment 17604

saw this text floating a few days ago on twitter, unfortunate that a person who was holding secretary rank is also buying into this nonsense.

He is way off base. The wealth of Ambani and Adani are not GDP per se but wealth accumulated over time. He would have made a better point if he had included all the wealth that Indians hold and go through that exercise. Otherwise, this is a garbage post.

 

[FalconSlayers]

View: https://x.com/RichardRossow/status/1863603782149427506

 

[FalconSlayers]

4.16 MSF is extremely huge