India did not just slow down suddenly, it's Western media that suddenly turned on them and started to show the truth of India, and the reason is China. India, the country that the west thought they can use to suppress China turned out to be a burden to them.
Remember the story of a hen that gives golden egg everyday and then the hen is killed to get all the golden eggs in one go. Middle Class is sadly that hen.
Ambani wedding and their private petting zoo...doesn't it represent growth in the country? What are you telling? Those are not indicators of growth in a country? 😂😂😂
I work in a private bank and I have stopped any discretionary spending. I am more worried about saving my job. I am struggling with targets. With RBI restrictions in personal loans , Bank mgmt more interested in selling insurance products and the pressure is relentless. But customers aren't buying. I am in my 40s & in 30% tax slab. But I feel more insecure than an unemployed youth.
Im afraid to set foot in hdfc bank. I went there 2 weeks ago and the executive after doing my work, pestered, begged and literally yelled at me to invest in some fkall ULIP scheme. Dread going back in there
Mainly because many large MNCs from US and the West have exited India after their bad experience there. They are either shifting to Vietnam, Indonesia, Malaysia or back to China.
@@samnote2459Ford Chevrolet Mitsubishi, according to The Ministry of Commerce and Industry, in reply to a December 2021 question in Parliament, had said that 2,783 foreign companies ceased operations in India between 2014 and November 2021
Even when some manufacturing is shifted Vietnam, Vietnam imports machinery as well as raw materials from China. Capital is even coming from China! 😂 So Vietnam contribution in the supply chain is only labor and maybe some materials from local manufacturers.
No taxes are basically to fund govt spending n pay borrowing which is again for govt spending so if inflation goes up doesn't their spending also go up say a road construction they undertake or metro .Taxes cut will help say I cut income tax n you spend more n pay more direct taxes . I do think it's more of people want to spend or buy but can't so yes if govt feels it will give more tax they could might . Most importantly corporate tax cuts should be linked to job creation.
Taxpayers should demand increase in number of taxpayers, to distribute the burden. Farm income above 30 lakhs must be taxed. And crop diversification and farm reforms are a must.
Have you ever seen Middle Class issues raised before elections? Political parties always chase the low hanging fruit which is the lower class. Middle class issues are always raised in smaller states by newer parties like AAP.
Never heard of that system but there is another system which Belgium follows . If the core inflation is high your wages will get higher. That includes both of the private and public wages. So you do not feel the pressure of inflation .
What i really like about this channel is how simply he explains economics compared to newspapers( forget the tv anchors). Sarcasm is an added bonus. Keep up the good work🎉
Salaries not rising fast enough + 65% direct and indirect taxes+ rising inflation = Perfect recipe for low spending. People can't afford services and goods.
For the first time in my life I saw the price of nescafe coffe powder 😳 😐 and kept the jar back in its place , we have always been consuming instant coffe powder since 2010, and now have switched to decoction coffe, and we stopped eating at restaurants, we stopped buying groceries on every 2nd day of every month, we have cut down on everything, we are extremely careful in picking stuff !!!
Same here bro, I bought Bru instant for ₹300 (100g) and couldn't believe the price tag. Glad it's just for guests as my wife and I don't drink coffee 😂 On side note: I went to my parents' house and saw 9g sachet priced at ₹10, which works out to be ~₹110 for 100g. Is it the same coffee I wonder.
FM will shout in parliament that Middle class don't drink coffee, middle class don't fly on planes, middle class don't eat outside, middle class don't eat cake which is a luxury you know 18% GST. Middle class don't need to eat, they survive on tilak on forehead and jai shree Ram.
@@Chiga-lt6vq..there is a saying, the rich in India can only cheat the poor. The rich cannot cheat on the rich because both are smart and calculative.😊
In 1980s China and India were growing at the same rate. Now China is the world's largest industrial power while India is nowhere in sight. Perils of trying to replicate a failed Western economic system.
Agreed. But hardly anyone in the world can articulate the tiger growth model. There are no books or theories, at least I haven't seen any. But clearly it is a real thing, that has only been captured by confucianist cultures.
The slowdown began much before covid. Way back in 2018-19; Dr. Rathin Roy wrote about the middle income trap that India is facing. With the base effect kicking in due to weak growth during the covid era, the govt used GDP data and GST collection figures to mask the reality. Every economic indicator if looked objectively paints a scary picture of what lies ahead.
India is not in the middle income trap. It was never considered middle income. Good example of middle income trap is south america and some south east asian countries like thailand and malaysia. China is fighting middle income trap right now by reforming property market and upgrading its industries. It is extremely difficult to exit the middle income trap and become rich nation.
middleclass is getting 15,20,25,40,50k salaries..............they only have enough money to buy low quality food, low quality grooming, low quality clothes, not able to buy house, coming down from cars to bikes, going to govt hospitals for health care , no more pvt schools for kids etc etc
I told this while back. When the PM was running on Hinduism and national pride, instead of the policies. I told my fellow co-workers of Indian origin better look out for signs.
@@azizezzi7989 nothing i paid taxes before him and still do, the only difference the taxes are not being wasted in the name of development, unlike pre 2014 when all we had was scams and broke economy.
India's economy is growing at 5.4% and China at 4.8%. But China is 5X larger than India. So how is it China is the one in trouble and India is the next great investment destination?
You put out a lot of complex facts in an understandable way. I was talking to an owner of a factory recently, and he said that labourers from Bihar and UP have stopped coming to jobs and have moved back to villages, where they have started farming and availing direct benefit transfers. They no longer feel the need to come to factories for jobs.
Paid pittance and no employment benefits and bad work place treatment. Supervisors talk more than produce. But Indians workers abroad don't want to return because of religious extremists and bigotted intolerance by the rich and high caste in various banking temples inventing superstitious unregulated practices
good. why come to KA and TN and get paid peanuts and top of it get abused for speaking hindi ? let the "muh south india debelloped saar" folks do their own low level labour.
Job security and job satisfaction is at all time low. Tax terrorism and inflation have made people spend less. For example, I have cut discretionary spending to a minimum. Rather, I go on a foreign tour every year to pamper myself and family. I prefer clean hotel rooms for 2000 Rs near some beach in south east asia, the level of cleanliness is that you would get in a 5k-6k room in India. India is not cheap, it is very costly. Its just that you get substandard products and services (unfit for consumption, like unclean bedsheets, artificial milk) at affordable prices. But if you ask for some basic standards, then you are charged an exorbitant price.
Absolutely correct. Ur 1st line is very poignant. Job security & job satisfaction are at an all time low. 🙏 And who is responsible for this Sir? None other than Modi Govt. Because it is more focused on controversial affairs than th economy. Period. 🙏 I shudder to think what will be th future of our youth. ??
@ Apparently, a culture of workaholism is propagated from the top, like prime minister works 20 hrs a day and such nonsense. But in reality, anyone can work 20 hrs a day when all you have to do is travel and sign a few papers, have 15 servants around you to take care even if you sneeze, have a dresser who takes care of what you should wear, have food served in your hand and that too of purest quality which the poor citizens might not even have access to. And sometimes, the work even involves meditation while a camera is filming your every breadth and breath. This f**ing pm has held the entire country hostage. Save 🇮🇳
Long period of economic growth has led to a state of Inflation. It is the phenomenon called Stagflation. Government of India has to address this problem
Not sure how big IT sector influences.. But IT salaries and hiring slowed significantly in last 6 months, and some major layoffs as well.. Is the slow down related to this ?
This government doesn’t listen to financial experts. RBI governors with Finance background are expelled and Some with History and computer background are appointed as RBI governors. FM with commerce background Acha din will come 😢😢😢
FM is M.Phil in Economics. Which whatsapp university are getting info from? So called experts wanted to print money during pandemic. And that has led to inflation in rest of the world.
@@rajx7120 Her husband is phd holder from london school of economics and he himself is on record criticizing her economic policies and misleading lies propagated by her government.
Narendra Modi driving this country towards disaster from the beginning. But it won't show the effect in early stages. After 12 years now slowly people started understanding that he is destroying everything. Now the middle class is slowly feeling the effect. First Modi removed planning commission which is a disaster for the country. He showing all manipulated economic figures which confused every one. People started realising what is real Modi. He is not modifying he is destroying the country.
He removed planning commission, and made Niti Aayog. He warned people of not getting into freebies trap, but his party was losing election, in the states where bjp did not offer counter freebies. The increased tax is the cost of freebie
@@shubhamkumar-fj4qsBJP launched Schemes like Ladli behan Yojna in states of Maharashtra and Madhy Pradesh, Gave freebies worth 3K to every female. This is tax payers money and Modi’s party itself is promoting Freebies.
@@Lefties_Losing_It LOL At least tell us what happened to 40rs for USD or Petrol Price will be reduced or 2 crore jobs per year or 15 lakhs in all there account by brining back all the black money( as per recent data black money has increased quantum leap)....
@@ragavanrengaraj9728 I got them, you didnt get that in TN? aaah I know why, because you have DMK there.. keep going, PJ was 1 of the richest state and now see where it is... reason... freebies... Bengal, freebies, AP, freebies
India's GDP growth depends on private consumption, but during last 3 decades, companies have registered skyrocketing profit but salary remains stagnated they are not even adjusted to inflation.
India's liberalisation is out of compulsion. The service sector did a good result. The retired Government Employees and PSU employees boosted the demand in economy. Now, both are shrinking and people are doing corporate jobs of 20000 rupees. India remained an importer not a exporter.
Real Growth means manufacturing capacity i.e. especially exports of goods. If your economy is serviced based, then it’s not areal economy. India is a large call centre. It’s secondary. And I am not an economist.
Having a history graduate as RBI head, now replaced by a computer programmer as the new RBI head has consequences. The rot slowly but surely has seeped into the economy. People who spent 30-40 years as yes-men are not going to deliver prosperity.
MODIJI SAID HE WILL FORCE CORRUPT POLITICIANS TO RETURN LOOTED WEALTH BACK TO INDIA. BUT HE IS LOOTING INDIAN PEOPLE WITH HIGH GST AND TAXES. HE IS SHAMELESS.
One primary contributor for high inflation is the transport cost due to high taxes on fuel. And not to forget the high cost of electricity, which increases the manufacturing and services cost, thanks to the expensive coal we were forced to buy. One after another... disaster.
Please don't come with any outdated religious comedies to here wen we discussing economy...... atleast or please you go and check the countries status who worshipping you are saying God...
@InfoSoup I have zero expectations from opposition but if the right question reach the right people in the government then they will take the right action (Hopefully)
Thank you Bond Economist. You clearly haven't been sitting on the fence for this one. RBI's intransigence is more baffling when you consider the government is keen to see them cut interest rates. Having said that, the only scenario this makes sense if the RBI intends to re-define the middle class to those spending Rs. 1000 on their shirts, and kick start consumption from there.
Not really. Excise duty collections that include petrol tax, are lowest contributers at 3.2 lakh crore. Personal income tax collections are 11.2 lakh crore. Corporate tax collections are 10.7 lakh crore. RBI dividends are about 2 lakh crore.
@@srinivasrao369 Rich and corporate are already taxed at the maximum level, and they still are contributing the most. Common citizen actually pays less, on a per capita basis. The problem is - rich farmers are not being taxed. Many businesses evade taxes by showing it as agricultural income. This is what we need to fix.
Just look back at modiji's hypocrisy, he was the one who used to complain about all the price rise, the rupee value during Congress rule, and now he will blame everything to Nehru. This is the height of hypocrisy.
Political Democracy is dead against the growth of middle class. Poverty is increasing in middle class day by day. Goverment has no time to look into this matter. Therefore Presidential Democracy is so good for the growth of India. During the political democracy of such a long period where is the growth for middlr class. Until and unless we kill political democracy in India, India will never be out of dismal poverty.
The government taxes income, spending, savings and investments. So where is the money left in middle class hands for spending? The anger of the people reflects in their reluctance to spend and give more money to that woman. States too have jumped on the freebie bandwagon, tax the middle class and give freebies to the "poor".
Thanks for video. Your video highlights the essential issues of middle class folks. FM must be from Lok sabha, who faces the electorate. Present FM is not, hence the lack of empathy/ response to middle class being milked out of existence...e.g. comments on onion prices being countered with "I don't use onions" remarks.. This lack of empathy for middle class who are breaking their backs with the daily grind of making both ends meet is a blot on our central govt. Sad.
Subscribed ❤. Simple to understand for a financial like me. My personal agony story. Been using olive oil for cooking since college. But now it’s taxed at highest rate. 1 litre of oil has shot up to 1500 rs. And next time I go for movie.. not buying caramel popcorn anymore.. 18% tax..😢😢😢
People need to understand where they stand financially and accept it. People with 20-30k salary are buying cars and iphones just to get validation while internally they are crumbling under the pressure of paying for it. Add this to the fact that most people in the country dont have their own homes but we have lakhs of flats and apartments empty in big cities. The wealth distribution/disparity has gone for a toss. And the best of it all is the corruption in the system. No words for it
If government panders to greedy corporate..be it..i will stop "discretionary spending..if GDP crashes..let it be..if i am going hungry..our authorities apparently don't care anymore..
Absolutely.. but why are the so-called intellectuals, economists and the main stream media unable to see the ground reality. The slowdown has been snowballing for quite some time. While all the parameters like stable government, demographic dividend etc are all in our favour, why is the government unable to convert this into a growth story? It's high time the government takes some drastic policy decisions... Hope we don't miss the bus.
@@aamaldev494 Hard to say, since no one really knows what India's actual population is, as no census has taken place since 2011. There would be many people who would fall under 'middle-class' based on income...but a lot of them pay NO taxes. Like all the hawkers sitting outside big office buildings selling tea/cigarettes. Kirana shop owner, who NEVER gives you an invoice..and many others like them..
RBI is chasing the wrong parameters. The CPI data they target grossly under represents the housing inflation, school fees and healthcare of the top 5% who actually spend and drive the economy. Unfortunately top 5% doesn't mean luxury in India, they are trying to live a decent life. Luxury is just the top 0.01%
The corporate culture is toxic, with employees struggling under salaries that barely meet the minimum. There is a pervasive sense of exhaustion, fueled by constant corporate politics and a complete lack of incentives. Meanwhile, CEOs and politicians remain detached from the reality of the workforce, living in a bubble of their own. We need better salaries and work culture
If spending is being fueled by low interest rates and easy loans, then it's better that GDP slows. Easy loans are not good for the economy and are causing the fall in Western economies.
We middle class voted this Govt in power but Govt now eating own flesh! We have to manage own, house, take care of old parents, fund the super expensive school/college fees of kids, save for own passion like travel, mobility and save for own retirement. We have to save for own medical needs, insurance! All this in a salary that comes in hand after 30% is taken away even before we see complete figure. The remaining salary if we try to save in bank then we have to pay tax on interest! While the 70% salary that I am investing is already taxed! All my restaurant bills are charged 18% CST and 18% GST! As if when family of 3 go out for lunch we pay for 4 people cause Govt is also having lunch with us! In short we are working for Govt for 5 months of a year with zero return. Middle class don’t get even medical insurance from them for paying taxes! 😢 All our direct and indirect taxes are going into freebies! While we are suffering.
The problem is not the tax as such but double taxation of hard working salaried class. Unfortunately our Nirmala Ji is hitting the same class who has supports BJP
Environment issues leading to inflated agriculturr prices...air pollution Too high govt salaries and pensions without commensurate benefits to citizens..govt schools, govt hospitals..slow judiicary.. bad quality city roads.. Corruption..
If GDP doesn’t alleviate poverty or improve people’s lives then it’s just inflation. Even in US where the same product & services costs more than in China, and US product & services requires China input. Shows US has larger GDP, but US is poorer than China. Value is about how much you get for what you pay, not how much is paid
Most of Indian middleclass works in private sector and with the layoffs, the job safety concerns are real. This impacts spending and long term capital investment decisions coupled with inflation and high interest rates and low tax incentives.
U think entire India is buying apartments ???? And cars ?? Go and check the data abt what percentage of Indians own a personal home or a personal car ... Have no idea abt India , its size, its people, its economic conditions , complexities , society etc. Just watching godi media, fakebook, and commenting .... Just because u have money does not mean 90% Indians have money ....
@@Max_Elan The problem is that givt also asked for hum do humare do in early 90s but 2-3 states didn't paid attention to this & we ended up in such a huge population. Citizens are also responsible for this mess as this has resulted in less opportunities, more pollution, horrible traffic & countess other problems
Keep people struggling till a level then drop them down again allow them to keep struggling but never give them a decent and prosperous life. If you give them a prosperous life thier demands will grow and will be pain inthe neck. Keep them complaining about no good roads, no water connection, no good sewages etc ... --- An intelligent Indian bureaucrat.
Price of onions in Manipur is about ₹100 to ₹120/KG..well i stop consuming onions and garlic for quarter is about more or less to ₹200...well stop consuming that too. 😢😢😢
Try uploading all PDF documents in chatgpt and ask questions on YOY analysis and data in tablef format. It will surely reduce manual work of finding and analyzing data for multi years. Cheers hope you fund this useful!
Freebies are not even a problem. Government spend like 3 percent in the freebies. Look at tamil nadu they have social freebies like laptop for students and household appliences like mixie and grinder have improved students and household wife's life which gave them more time and improved their life.
All parties are milking middle class and giving freebies with that money..and rich know how to evade tax by manipulation ..unless middl class start voting together, this will continur
There should be a way to decouple rate cuts in India from rate cuts in America. Our growth is held hostage by America's decisions, just to avoid capital flight. Energy independence should be number one priority to reduce imports and trade deficit.
Please interview DR SUBRAMANYAM SWAMY JI Ex Harvard University professor and very honest leader on economy. Defense, foreign affairs. People love to listen to his videos on economy.
India has no good environment to business and manufacturing 😏 we could not boom our manufacturing sector last 10 years which we really needed to tackle the unemployment. Now our economy starts shrinking
The bjp ideology had always been to empower the capitalists as frontrunners of the economy. To suit this objective and to maintain a strong grip on power, they have been tinkering with the economy at will. Even they have no clue where the dents will happen and what the final shape will be. Hence the bewilderment of the economists.
GST for everything, 30% tax in all types of income...toll gate charges,EB charges now equals rent amount,heavy housing loan charges,high rise in prices of essential items,low interest from deposits,heavy education expenses,medical mafia......its killing us. Even if we earn 2, 3 lakh per month also our savings will be low.
When growth happens only on papers the ground picture shows indian workers miseries... Growth for a few families near to BJP but for common indian no growth... 😢😢😢
How long can the corporate and rich agriculturist suck from middle class. I am happy that we are slowing down. The corporates and rich agricultuists need to pay taxes and salaried should get zero to less tax to boost consumption.
When congress was in power, world was talking about growing Indian middle class layer. Since BJP we talk about billionaires and shrinking middle class.
To support this start-up channel, feel free to buymeacoffee.com/thebondeconomist
Good summary..tx
India did not just slow down suddenly, it's Western media that suddenly turned on them and started to show the truth of India, and the reason is China. India, the country that the west thought they can use to suppress China turned out to be a burden to them.
Remember the story of a hen that gives golden egg everyday and then the hen is killed to get all the golden eggs in one go. Middle Class is sadly that hen.
When big companies make decisions based on quarterly pressure rather than long term growth.
Long term also when money is not there with people what growth u see@soyuz281
@@soyuz281 yeah think about long term growth and lose the game entirely. lmao
Good one mate!!!
Absolutely accurate
India's growth story is only a story, not a reality. Wake up, hold the government accountable, do not make them kings and tyrants.
Scam is in our dna
This Gov. Has made people blind and made them a sheep herd….. they see they think they believe what Gov wants them to😢😢
Wish we had second amendment.
Ambani wedding and their private petting zoo...doesn't it represent growth in the country? What are you telling? Those are not indicators of growth in a country? 😂😂😂
@@vinestervega19 hell no what stupid thought.
I work in a private bank and I have stopped any discretionary spending. I am more worried about saving my job. I am struggling with targets. With RBI restrictions in personal loans , Bank mgmt more interested in selling insurance products and the pressure is relentless. But customers aren't buying. I am in my 40s & in 30% tax slab. But I feel more insecure than an unemployed youth.
Same in IT
My friend Sr Bank Manager committed suicide due to work pressure 😢
Im afraid to set foot in hdfc bank. I went there 2 weeks ago and the executive after doing my work, pestered, begged and literally yelled at me to invest in some fkall ULIP scheme. Dread going back in there
....sadly but
still we have to jai adan8...jai mod8
I can understand and going through almost same situation. I work in IT sector and from last 2 years increments are hardly 5-7%.
best way is close your eyes and think India became world power
No biological 😅
Just like how 🥚bhakts think about akhand bharat and super power 😂😂😂😂😂
😂😂😂
Sanghis are doing that since 2012 😂😂😂😂😂
😅😅😅
Mainly because many large MNCs from US and the West have exited India after their bad experience there. They are either shifting to Vietnam, Indonesia, Malaysia or back to China.
Rightly pointed out🎉
Which ones? Give examples. Are there any?
Google exists @@samnote2459
@@samnote2459Ford Chevrolet Mitsubishi, according to The Ministry of Commerce and Industry, in reply to a December 2021 question in Parliament, had said that 2,783 foreign companies ceased operations in India between 2014 and November 2021
Even when some manufacturing is shifted Vietnam, Vietnam imports machinery as well as raw materials from China. Capital is even coming from China! 😂 So Vietnam contribution in the supply chain is only labor and maybe some materials from local manufacturers.
Tax payers should demand inflation adjusted taxes. More inflation means government should cut tax.
No taxes are basically to fund govt spending n pay borrowing which is again for govt spending so if inflation goes up doesn't their spending also go up say a road construction they undertake or metro .Taxes cut will help say I cut income tax n you spend more n pay more direct taxes . I do think it's more of people want to spend or buy but can't so yes if govt feels it will give more tax they could might . Most importantly corporate tax cuts should be linked to job creation.
Taxpayers should demand increase in number of taxpayers, to distribute the burden.
Farm income above 30 lakhs must be taxed. And crop diversification and farm reforms are a must.
or salaries should increase based on CPI increase.
Have you ever seen Middle Class issues raised before elections? Political parties always chase the low hanging fruit which is the lower class. Middle class issues are always raised in smaller states by newer parties like AAP.
Never heard of that system but there is another system which Belgium follows . If the core inflation is high your wages will get higher. That includes both of the private and public wages. So you do not feel the pressure of inflation .
Taxes, taxes and more taxes along with rising inflation, very expensive housing, education, expensive healthcare along with high interest rates.
True, and no Growth in wages too! 😢😢
what are you talking about ? Inflation has fallen significantly
Housing costs are almost 30% inflated.
Aur do BJP ko vote
@@deathadder4999😂😂
What i really like about this channel is how simply he explains economics compared to newspapers( forget the tv anchors). Sarcasm is an added bonus. Keep up the good work🎉
Salaries not rising fast enough + 65% direct and indirect taxes+ rising inflation = Perfect recipe for low spending.
People can't afford services and goods.
India is a customer of adani ambani, and nothing more!! Leaving India is everyone's first choice.
There's There's no jobs manufacturing gst on machinery or raw materials of factory is on custom duty and gst etc 😢
Modi has increased salary … wait
For the first time in my life I saw the price of nescafe coffe powder 😳 😐 and kept the jar back in its place , we have always been consuming instant coffe powder since 2010, and now have switched to decoction coffe, and we stopped eating at restaurants, we stopped buying groceries on every 2nd day of every month, we have cut down on everything, we are extremely careful in picking stuff !!!
Sustainable habits.
@@rakadus he can't afford coffee, it's not a luxury like a foreign trip he's giving up
Time to bring back price controls.
Nestle and other private sector companies are going to maximize profits by continual price increases
Same here bro, I bought Bru instant for ₹300 (100g) and couldn't believe the price tag. Glad it's just for guests as my wife and I don't drink coffee 😂 On side note: I went to my parents' house and saw 9g sachet priced at ₹10, which works out to be ~₹110 for 100g. Is it the same coffee I wonder.
FM will shout in parliament that Middle class don't drink coffee, middle class don't fly on planes, middle class don't eat outside, middle class don't eat cake which is a luxury you know 18% GST.
Middle class don't need to eat, they survive on tilak on forehead and jai shree Ram.
Indian are suffering
Especially the middle
Income
The rich are richer
The poor become poorèrr
No the poor is not getting poorer they are just remaining poor
The poor are adjusted to being poor, the rich are adjusted to being richer, the middle class will get f*cked
@@Chiga-lt6vq there mindset is poor they are gonna be poor forever !
@@Chiga-lt6vqStill hallucinating. Keep dreaming. Aney
@@Chiga-lt6vq..there is a saying, the rich in India can only cheat the poor. The rich cannot cheat on the rich because both are smart and calculative.😊
In 1980s China and India were growing at the same rate. Now China is the world's largest industrial power while India is nowhere in sight. Perils of trying to replicate a failed Western economic system.
Very true. China is 4 times than india in all economic parameters.
Agreed. But hardly anyone in the world can articulate the tiger growth model. There are no books or theories, at least I haven't seen any. But clearly it is a real thing, that has only been captured by confucianist cultures.
The slowdown began much before covid. Way back in 2018-19; Dr. Rathin Roy wrote about the middle income trap that India is facing. With the base effect kicking in due to weak growth during the covid era, the govt used GDP data and GST collection figures to mask the reality. Every economic indicator if looked objectively paints a scary picture of what lies ahead.
India is not in the middle income trap. It was never considered middle income. Good example of middle income trap is south america and some south east asian countries like thailand and malaysia. China is fighting middle income trap right now by reforming property market and upgrading its industries. It is extremely difficult to exit the middle income trap and become rich nation.
@@turtlesoup8134😂
India is 1 step away from getting the title of poor country once again!
Thank Modia 😊
@@Rajakji99 Not one step away. It is in the poor country category. It is well below what the UN considers middle income country.
@turtlesoup8134 india is low income country
Not middle
Thts why I said 1 step
Thnks to this foolish narendra modi
We are reaching there fast
middleclass is getting 15,20,25,40,50k salaries..............they only have enough money to buy low quality food, low quality grooming, low quality clothes, not able to buy house, coming down from cars to bikes, going to govt hospitals for health care , no more pvt schools for kids etc etc
Etny dukhi ho bhai Modi hai tou mumkin hai
Accurate
well said
Modi is helping middle class … Adani and Ambani too … none of us understand this basics
You are in a delusion, anyone earning less than 45k monthly is not middle class,he is poor
India is the graveyard for foreign investors
From : Singapore 🇸🇬
Lol good comment
I told this while back. When the PM was running on Hinduism and national pride, instead of the policies. I told my fellow co-workers of Indian origin better look out for signs.
lol the same PM is responsible for india's growth into 5th biggest economy (soon to be 3rd) you have no idea what you are talking about.
Talk about your personal pocket how much effect did your pocket get by increase in rate
What has he done for hinduism care to elaborate
@@azizezzi7989 nothing i paid taxes before him and still do, the only difference the taxes are not being wasted in the name of development, unlike pre 2014 when all we had was scams and broke economy.
@@FireFox-ch2tu , 5th largest gdp is not as important as Gdp per capita. We are way behind my friend.
India's economy is growing at 5.4% and China at 4.8%. But China is 5X larger than India. So how is it China is the one in trouble and India is the next great investment destination?
China got a scratch
While
India got amputation and decapitation
But 😂 u know usual stuff
That's how cow urine filters down.
Economy is inflated at 6% ( official rate) , in reality at least 10%. There’s no real growth
China has experienced larger growth (Above 10% and around 15%) for past 20 years and slowed just now
You put out a lot of complex facts in an understandable way. I was talking to an owner of a factory recently, and he said that labourers from Bihar and UP have stopped coming to jobs and have moved back to villages, where they have started farming and availing direct benefit transfers. They no longer feel the need to come to factories for jobs.
who will work for the peanut salaries
they may thought it was worthless to work in the factory for peanut salaries
Paid pittance and no employment benefits and bad work place treatment. Supervisors talk more than produce. But Indians workers abroad don't want to return because of religious extremists and bigotted intolerance by the rich and high caste in various banking temples inventing superstitious unregulated practices
good. why come to KA and TN and get paid peanuts and top of it get abused for speaking hindi ? let the "muh south india debelloped saar" folks do their own low level labour.
They are going to the south states.
Good for them
Increase rents, increase school fees, increase dining prices, increase taxes but dont give hikes. and then say india is slowing
Dude, I just discovered your channel with your latest video on RBI Fin. Stability report. I bloody love your content mate, live long and prosper
Job security and job satisfaction is at all time low. Tax terrorism and inflation have made people spend less. For example, I have cut discretionary spending to a minimum. Rather, I go on a foreign tour every year to pamper myself and family. I prefer clean hotel rooms for 2000 Rs near some beach in south east asia, the level of cleanliness is that you would get in a 5k-6k room in India. India is not cheap, it is very costly. Its just that you get substandard products and services (unfit for consumption, like unclean bedsheets, artificial milk) at affordable prices. But if you ask for some basic standards, then you are charged an exorbitant price.
Finally, someone breaking the myth of India is cheap.
Spot on!
Absolutely correct. Ur 1st line is very poignant. Job security & job satisfaction are at an all time low. 🙏 And who is responsible for this Sir? None other than Modi Govt. Because it is more focused on controversial affairs than th economy. Period. 🙏 I shudder to think what will be th future of our youth. ??
@ Apparently, a culture of workaholism is propagated from the top, like prime minister works 20 hrs a day and such nonsense. But in reality, anyone can work 20 hrs a day when all you have to do is travel and sign a few papers, have 15 servants around you to take care even if you sneeze, have a dresser who takes care of what you should wear, have food served in your hand and that too of purest quality which the poor citizens might not even have access to. And sometimes, the work even involves meditation while a camera is filming your every breadth and breath. This f**ing pm has held the entire country hostage. Save 🇮🇳
Long period of economic growth has led to a state of Inflation. It is the phenomenon called Stagflation.
Government of India has to address this problem
Not sure how big IT sector influences.. But IT salaries and hiring slowed significantly in last 6 months, and some major layoffs as well.. Is the slow down related to this ?
Yes it adds fuel to fire. not great sign globally, with the evolution of AI and cutting edge tech, there are another sets of problem
This government doesn’t listen to financial experts.
RBI governors with Finance background are expelled and Some with History and computer background are appointed as RBI governors.
FM with commerce background
Acha din will come 😢😢😢
Uneducated ex-tea sellers wouldn't know how to run a country.
You don’t think straight. That’s the problem. When reforms are proposed then you guys are the first one to stall it. Now live with the brokenness.
FM is M.Phil in Economics. Which whatsapp university are getting info from?
So called experts wanted to print money during pandemic. And that has led to inflation in rest of the world.
@@rajx7120tere jaise ko ghnta ni pta kuch😂
@@rajx7120 Her husband is phd holder from london school of economics and he himself is on record criticizing her economic policies and misleading lies propagated by her government.
Many of these people consider themselves “middle class” even though government considers them “rich”… excellent, true-er words were never spoken.
Narendra Modi driving this country towards disaster from the beginning. But it won't show the effect in early stages. After 12 years now slowly people started understanding that he is destroying everything. Now the middle class is slowly feeling the effect. First Modi removed planning commission which is a disaster for the country. He showing all manipulated economic figures which confused every one. People started realising what is real Modi. He is not modifying he is destroying the country.
Don’t speak facts you might be called an anti national or muslim supporter or communist or whatever
He removed planning commission, and made Niti Aayog. He warned people of not getting into freebies trap, but his party was losing election, in the states where bjp did not offer counter freebies. The increased tax is the cost of freebie
@@shubhamkumar-fj4qsBJP launched Schemes like Ladli behan Yojna in states of Maharashtra and Madhy Pradesh, Gave freebies worth 3K to every female. This is tax payers money and Modi’s party itself is promoting Freebies.
@@shubhamkumar-fj4qsAa Gaya Andh bhakt apne bap ko bachane, bhai he had 10 years to act on jobs 😂😂😂
Gujju hai bhai
10 golden years went down the drain. No industries only mandir, statues. Big regret today
Before 10 years India was world's top economy and we were in heaven right?
And freebies are not all the reason for lost golden years …. lol.
Jai shree ram 😂😂😂
@@Lefties_Losing_It LOL At least tell us what happened to 40rs for USD or Petrol Price will be reduced or 2 crore jobs per year or 15 lakhs in all there account by brining back all the black money( as per recent data black money has increased quantum leap)....
@@ragavanrengaraj9728 I got them, you didnt get that in TN? aaah I know why, because you have DMK there.. keep going, PJ was 1 of the richest state and now see where it is... reason... freebies... Bengal, freebies, AP, freebies
Growth was in media...in reality it was not there
India's GDP growth depends on private consumption, but during last 3 decades, companies have registered skyrocketing profit but salary remains stagnated they are not even adjusted to inflation.
India's liberalisation is out of compulsion. The service sector did a good result. The retired Government Employees and PSU employees boosted the demand in economy. Now, both are shrinking and people are doing corporate jobs of 20000 rupees. India remained an importer not a exporter.
🎉
What’s average income in India ? Average salary
@@maaz87 Varies from persong to person and state to state. In total nominal monthly salary is 20000
Sane n balanced comment rather than taking sides ....
@@ShreyasVshetty I meant a mazdoor / labourer/ daily wager , how much they could earn a month.
Real Growth means manufacturing capacity i.e. especially exports of goods. If your economy is serviced based, then it’s not areal economy. India is a large call centre. It’s secondary. And I am not an economist.
Correct 💯
Amritkal shuru ho chuka hai till 2047😂😂😂😂😂😂
Wow you taught me that what I never understood. You are a brilliant teacher!
To save our country the government needs to be changed.They are doing everything to hang on to power and really governance is kicked out .
Having a history graduate as RBI head, now replaced by a computer programmer as the new RBI head has consequences.
The rot slowly but surely has seeped into the economy. People who spent 30-40 years as yes-men are not going to deliver prosperity.
History Graduate has been voted as one of the best central bankers globally. Get your facts right
@@SatishKumar-s6v6g first you are a hindu then an Indian … never forget it and support Adani Ambani and bjp
@@zx1403 only a failed governor have to rely on awards to stay relevant in there jobs
MODIJI SAID HE WILL FORCE CORRUPT POLITICIANS TO RETURN LOOTED WEALTH BACK TO INDIA. BUT HE IS LOOTING INDIAN PEOPLE WITH HIGH GST AND TAXES. HE IS SHAMELESS.
Bro have some sense on ur comment , he can't loot in taxs. Yes tax is collected and spending and returns are recorded in every budgets.
Ofcourse.. He can't loot in taxes! 👍
All of u r not Hindus
U not Hindu na
And still is running the govt for 3rd time
Our present dispensation doesn’t need advise…11 years experience… needs quick change of firm leadership at the top..
One primary contributor for high inflation is the transport cost due to high taxes on fuel. And not to forget the high cost of electricity, which increases the manufacturing and services cost, thanks to the expensive coal we were forced to buy. One after another... disaster.
BJP smoothly diverted the topic from economics to cow and religion. Poor Congress is in trouble to copeup with cow politics
Allah is the best planner 🤲
and deep state 🙂
Please don't come with any outdated religious comedies to here wen we discussing economy...... atleast or please you go and check the countries status who worshipping you are saying God...
BJP have support of media, judiciary and election commission
@@coconutpunch123 I won't say media anymore I can easily name you 30 channels that criticise BJP with millions of views. You saying those are bots?
As a finance professional I applaud this neatly summerized analysis.
You should advice the opposition to raise these questions in parliament.
Dhankar and Birla will let them, of course.
What is the use of raising questions if they themselves dont have any better plan than caste census and anti Adani agenda
@InfoSoup I have zero expectations from opposition but if the right question reach the right people in the government then they will take the right action (Hopefully)
@namitajain68 yes the will get a chance if they behave properly.
They have. Conveniently, this never gets promotion
Thank you Bond Economist. You clearly haven't been sitting on the fence for this one. RBI's intransigence is more baffling when you consider the government is keen to see them cut interest rates. Having said that, the only scenario this makes sense if the RBI intends to re-define the middle class to those spending Rs. 1000 on their shirts, and kick start consumption from there.
Our Government is relying on petrol earnings to fuel their income.
Petrol at Rs 70 sold for 105 in Maharashtra
Bad news for the comman man
Not really.
Excise duty collections that include petrol tax, are lowest contributers at 3.2 lakh crore.
Personal income tax collections are 11.2 lakh crore.
Corporate tax collections are 10.7 lakh crore.
RBI dividends are about 2 lakh crore.
@rajx7120 but why tax common citizens on petrol
To fulfill the government
@@srinivasrao369 Rich and corporate are already taxed at the maximum level, and they still are contributing the most. Common citizen actually pays less, on a per capita basis.
The problem is - rich farmers are not being taxed. Many businesses evade taxes by showing it as agricultural income.
This is what we need to fix.
Just look back at modiji's hypocrisy, he was the one who used to complain about all the price rise, the rupee value during Congress rule, and now he will blame everything to Nehru. This is the height of hypocrisy.
@Khunlem
Yes very true
Political Democracy is dead against the growth of middle class. Poverty is increasing in middle class day by day. Goverment has no time to look into this matter. Therefore Presidential Democracy is so good for the growth of India. During the political democracy of such a long period where is the growth for middlr class. Until and unless we kill political democracy in India, India will never be out of dismal poverty.
The government taxes income, spending, savings and investments. So where is the money left in middle class hands for spending? The anger of the people reflects in their reluctance to spend and give more money to that woman.
States too have jumped on the freebie bandwagon, tax the middle class and give freebies to the "poor".
Adanii is eating middle class tax money and getting tax exemption from the govt.
Are you sure it is Adani😅
Growth happens when people prosper,not just by imposing huge taxes and that's all..
FMCG must bring down prices. Their price is exorbitant and prohibitive .
Because India’s GDP numbers were cooked.
Any study you have done or is just mujhe lagta hai
Exactly 100% Right
The regime is apparently good at cooking!😂😂
yes IMF should have appointed you to do their math.
@@thearnabsarkarvedas say chanakya was drinking cow unine everyday … you are questioning gdp .. wait I will tell this to Adani agents
Thanks for video. Your video highlights the essential issues of middle class folks. FM must be from Lok sabha, who faces the electorate. Present FM is not, hence the lack of empathy/ response to middle class being milked out of existence...e.g. comments on onion prices being countered with "I don't use onions" remarks.. This lack of empathy for middle class who are breaking their backs with the daily grind of making both ends meet is a blot on our central govt. Sad.
"dettol se mouth wash kar "
Subscribed ❤. Simple to understand for a financial like me. My personal agony story. Been using olive oil for cooking since college. But now it’s taxed at highest rate. 1 litre of oil has shot up to 1500 rs. And next time I go for movie.. not buying caramel popcorn anymore.. 18% tax..😢😢😢
People need to understand where they stand financially and accept it. People with 20-30k salary are buying cars and iphones just to get validation while internally they are crumbling under the pressure of paying for it. Add this to the fact that most people in the country dont have their own homes but we have lakhs of flats and apartments empty in big cities. The wealth distribution/disparity has gone for a toss. And the best of it all is the corruption in the system. No words for it
Absolutely correct!
That’s an alternate Pov
@@maaz87 how?
people lost the concept of saving for exigencies which saved India in 2008, 2019
Right
Wah, what a excellent narrative of economic news🎉
If government panders to greedy corporate..be it..i will stop "discretionary spending..if GDP crashes..let it be..if i am going hungry..our authorities apparently don't care anymore..
I thought we are in Amritkal... 😢
Yeah americalling
Don't worry Nirmala will levy new tax on middle class for relief of middle class 😂
😂
Correct, relief from life
Just imagine even her husband is against this govt system then we can just assume that she doesn't even know what she is doing, she is just following.
Like as if she does anything other than take blame. All decisions are taken by the Supreme leader.
Absolutely.. but why are the so-called intellectuals, economists and the main stream media unable to see the ground reality. The slowdown has been snowballing for quite some time. While all the parameters like stable government, demographic dividend etc are all in our favour, why is the government unable to convert this into a growth story? It's high time the government takes some drastic policy decisions... Hope we don't miss the bus.
perfect example of rich are getting richer and poor are getting poorer. increasing income inequality is the sign of a country's doom.
Well a cow can give only so much milk, then the udders come off. Middle class India.
Does India only have 4 percent middle class, please enlighten me
Not a single mf including me pay income tax
@@aamaldev494 Hard to say, since no one really knows what India's actual population is, as no census has taken place since 2011.
There would be many people who would fall under 'middle-class' based on income...but a lot of them pay NO taxes. Like all the hawkers sitting outside big office buildings selling tea/cigarettes. Kirana shop owner, who NEVER gives you an invoice..and many others like them..
When people elect a 4th standard fail and self certified viswaguru as supreme leader then things are and will be pathetic like this.
whats Sonia Italian's qualifications 😂
@@iXpressthings are going downhill and government is lying..
@@iXpresskiddo Manmohan Singh was a legend
@@iXpress you sir, are the problem.
@@iXpress Ignorant Sheeple
Great insight. Easy to understand manner. People of 'sab changa si' types must watch this.
RBI is chasing the wrong parameters. The CPI data they target grossly under represents the housing inflation, school fees and healthcare of the top 5% who actually spend and drive the economy. Unfortunately top 5% doesn't mean luxury in India, they are trying to live a decent life. Luxury is just the top 0.01%
The corporate culture is toxic, with employees struggling under salaries that barely meet the minimum.
There is a pervasive sense of exhaustion, fueled by constant corporate politics and a complete lack of incentives.
Meanwhile, CEOs and politicians remain detached from the reality of the workforce, living in a bubble of their own.
We need better salaries and work culture
If spending is being fueled by low interest rates and easy loans, then it's better that GDP slows.
Easy loans are not good for the economy and are causing the fall in Western economies.
......... WORST TO COME, INDIA, EVERY DIASPORA REMITTANCES CREATE, JOBS IN DIRECTLY,
INDIA HIGHLY DEPENDS ON OTHER COUNTRIES
We middle class voted this Govt in power but Govt now eating own flesh! We have to manage own, house, take care of old parents, fund the super expensive school/college fees of kids, save for own passion like travel, mobility and save for own retirement. We have to save for own medical needs, insurance! All this in a salary that comes in hand after 30% is taken away even before we see complete figure. The remaining salary if we try to save in bank then we have to pay tax on interest! While the 70% salary that I am investing is already taxed! All my restaurant bills are charged 18% CST and 18% GST! As if when family of 3 go out for lunch we pay for 4 people cause Govt is also having lunch with us!
In short we are working for Govt for 5 months of a year with zero return. Middle class don’t get even medical insurance from them for paying taxes! 😢
All our direct and indirect taxes are going into freebies! While we are suffering.
Hard facts 😢
The problem is not the tax as such but double taxation of hard working salaried class. Unfortunately our Nirmala Ji is hitting the same class who has supports BJP
Environment issues leading to inflated agriculturr prices...air pollution
Too high govt salaries and pensions without commensurate benefits to citizens..govt schools, govt hospitals..slow judiicary.. bad quality city roads..
Corruption..
Most of us especially middle class slowly stopped buying preprocessed foods and health awareness increased…looking for fresh veggies n fruits
Don't worry!! India will be 40 trillion dollars economy by 2047!! Same person predicted that India super power 2020.😅😅😅😂😂😂
meanwhile India’s High Speed Rail still nowhere to be seen
Where is Palki.. she should say something.
Palki is PR of modi@@liongjiahwong5478
🤣
And every American will be stand in the Que for Indian Visa, I just heard some one's wish😏
Thank you so much sir! Such an insightful and helpful analysis. Subscribed !
If GDP doesn’t alleviate poverty or improve people’s lives then it’s just inflation. Even in US where the same product & services costs more than in China, and US product & services requires China input. Shows US has larger GDP, but US is poorer than China. Value is about how much you get for what you pay, not how much is paid
Most of Indian middleclass works in private sector and with the layoffs, the job safety concerns are real. This impacts spending and long term capital investment decisions coupled with inflation and high interest rates and low tax incentives.
Meanwhile apartment prices are skyrocketing & still people are buying them
If the 200 million muslims were deported, there would be 200 million more homes, 200 million more jobs and so on.
U think entire India is buying apartments ????
And cars ??
Go and check the data abt what percentage of Indians own a personal home or a personal car ...
Have no idea abt India , its size, its people, its economic conditions , complexities , society etc.
Just watching godi media, fakebook, and commenting ....
Just because u have money does not mean 90% Indians have money ....
@@Max_Elan only 4 percent Indian pay income tax also
@aamaldev494
So ???
What do we do abt the rest ??
They are our own countrymen .... something has to be done ... we can't just abandon them ...
@@Max_Elan The problem is that givt also asked for hum do humare do in early 90s but 2-3 states didn't paid attention to this & we ended up in such a huge population. Citizens are also responsible for this mess as this has resulted in less opportunities, more pollution, horrible traffic & countess other problems
You made me realise the truth about a lot of things that I blindly following. Thank you.
My family stopped unnecessary purchases😅😅😅 because after giving GST there a tax on platform fees also😅😅😅
OMG how can this be outside India no other country has income tax and GST , bloody andhbhakts right
As if there was no taxes prior to GST implementation & BTW average tax rate was much higher before GST
Excellent episode. Loved it. Keep it up!
Keep people struggling till a level then drop them down again allow them to keep struggling but never give them a decent and prosperous life. If you give them a prosperous life thier demands will grow and will be pain inthe neck. Keep them complaining about no good roads, no water connection, no good sewages etc ...
--- An intelligent Indian bureaucrat.
One of the best analysis I seen Thank you 🙏 I appreciate
Price of onions in Manipur is about ₹100 to ₹120/KG..well i stop consuming onions and garlic for quarter is about more or less to ₹200...well stop consuming that too. 😢😢😢
Amazing breakdown. Very well done. You've earned my Subscribe.
It's unfit FM and PR PM
You don't need to write PR , PM itself is short for prachaar mantri
Do you really think the FM makes any decisions on her own?
Typical pappu supporter,
Brilliant analysis! 👌👌
I am a govt servant and I hardly survives. Nothing to spend. Nothing to save. Just getting by
Joke of the century 😂😂
Correctly you said Sir ,if govt do not make changes in budget for middle class then really economy will go down completely
Try uploading all PDF documents in chatgpt and ask questions on YOY analysis and data in tablef format. It will surely reduce manual work of finding and analyzing data for multi years. Cheers hope you fund this useful!
Please do an episode of GDP deflators and why they're much smaller than before and how this impacts nominal and real GDP
We middle class need to rise up against freebies in the election. Whichever parties opts for freebies shouldn't be voted.
Freebies are nothing compared to corporate tax cuts and indiscriminate loan waivers for the ultra wealthy.
Freebies are not even a problem. Government spend like 3 percent in the freebies. Look at tamil nadu they have social freebies like laptop for students and household appliences like mixie and grinder have improved students and household wife's life which gave them more time and improved their life.
@@adghat7819no. At country level it's bad
All parties are milking middle class and giving freebies with that money..and rich know how to evade tax by manipulation ..unless middl class start voting together, this will continur
Pappan donkghee injecting his propaganda. Stop giving all money to oombanee and ooothanee
Very amazing content and interesting way of explaining...
There should be a way to decouple rate cuts in India from rate cuts in America. Our growth is held hostage by America's decisions, just to avoid capital flight.
Energy independence should be number one priority to reduce imports and trade deficit.
Please interview DR SUBRAMANYAM SWAMY JI Ex Harvard University professor and very honest leader on economy. Defense, foreign affairs. People love to listen to his videos on economy.
India has no good environment to business and manufacturing 😏 we could not boom our manufacturing sector last 10 years which we really needed to tackle the unemployment. Now our economy starts shrinking
Excellent, straightforward explanation. Subscribed.
The bjp ideology had always been to empower the capitalists as frontrunners of the economy. To suit this objective and to maintain a strong grip on power, they have been tinkering with the economy at will. Even they have no clue where the dents will happen and what the final shape will be. Hence the bewilderment of the economists.
GST for everything, 30% tax in all types of income...toll gate charges,EB charges now equals rent amount,heavy housing loan charges,high rise in prices of essential items,low interest from deposits,heavy education expenses,medical mafia......its killing us. Even if we earn 2, 3 lakh per month also our savings will be low.
RBI should drop interest rate by 1% within 3-4 months and drop artificially spiked fuel prices by 10% to see growth in 2025
In the last 15 years companies profit grew 300% where as an average increase of salaries is just
When growth happens only on papers the ground picture shows indian workers miseries...
Growth for a few families near to BJP but for common indian no growth... 😢😢😢
How long can the corporate and rich agriculturist suck from middle class. I am happy that we are slowing down. The corporates and rich agricultuists need to pay taxes and salaried should get zero to less tax to boost consumption.
When congress was in power, world was talking about growing Indian middle class layer.
Since BJP we talk about billionaires and shrinking middle class.
😂 when Congress was in power inflation was 12% & world was talking about Scams by all Union ministers ... check history
Please define middle class, because in India, everyone call themselves middle class
@@shubhamkumar-fj4qs jiska tax chushta hai sarkar.
@@nikhilsahay895Only 3% are paying direct taxes, which is actually more than total GST collections and petrol tax collections.
@@nikhilsahay895 Modi government changed GDP algorithm to show better GDP figure