The Myth of India as an Upcoming Asian Economic Powerhouse. Rising Poverty and Social Inequality

[nepali.nationalist]

The Myth of India as an Upcoming Asian Economic Powerhouse. Rising Poverty and Social Inequality

By Junaid Ghoto
Global Research, December 13, 2016

​

A common myth around the world is that, India is developing country at a very rapid pace and going to be a powerhouse in Asia soon. Some even argue we should learn from them and some argue independence should have never happened and we would have been a better off with India rather than independent. And even some pessimist especially Pakistani and Bangladeshi people regret the independence in 1947 and common chorus can be heard look where India has reached today and where we are.

Regret or not, but it is important to see where India stands today, the idea to write regarding this is to differentiate the illusion from fact and give reason so the sane understanding follows. A nation is called developing not because of its population, or defense budget, but how good the people fare in that country; it is about the human development and economic growth which include improving education and health by having less people as possible under the poverty line and high incomes per capita of citizen in the country, this will come when the state will have a sound economic system.

India is no doubt one of the biggest democracy in the world; because it has the highest population, Simple! (China highly populist, and officially communist). India is the second biggest nation in the world in terms of population and seventh largest in terms of area. According to the IMF as of 2015, the Indian economically nominally worth US$ 2.182 trillion, it, its the eleventh largest economy in terms of market exchange rates at US$ 8.027 trillion, third largest by PPP, with an annual GDP growth of last decades 5.8%.[1]

These numbers in retrospect are nonsense which feed the illusion to the general public so they can keep on living like they are in a hope that their life will get better.

These numbers do not represent the true picture of the country, not only India`s but any country. Like GDP can be a good indicator, but the real measure is GDP per capita. Which measures how a single person achieves the share of income among its citizens. When it comes to India the GDP is $2.182 trillion, but per capita income is only $1581 which is not much higher than Bangladesh`s $1086 and Pakistans $1316 per capita, but less among many African countries, like Nigeria $3203, South Africa $6,482, Zambia $1721, Sudan $1875, Namibia $5408, Ghana $1441, Djibouti $1813, Botswana $7123 and many more to mention here.[2] In fact, India is like ticking time bomb by 2026 the world population will be 1.5 billion largest in the world and the economy is not growing enough to meet the demands to create 20 million jobs per year.[3]

Yes, I know India is part of BRICS and they have announced in creating their own kind of bank but then what? India still owes money to the IMF; their public debt to GDP is nearly 70%,[4] Likewise, India is worst in terms of BRIC countries when it comes to GDP per capita, human development, education, poverty and so forth. India is lagging behind in BRIC countries. And Yes, then there is IT, the huge investments in India by the foreign companies just because those corporation can have cheap labor rather than paying their people in home countries with high wages. The beauty of globalization which no body mentions and no one talks all they care to show people the random numbers and apathy of people to consent without barely eliciting a yawn.

One of the main hurdles in the progress of India is poverty, poverty which should have been brought under control, but in India it is more or less same ratios of poverty post-independence.

[5]

The figure shows the total population every decade with poverty in percentage and how much the poverty has declined in India, the percentage may have decreased, but the total number of people living under the poverty line has been more or less same.

To combat poverty the country introduced anti-poverty policies, to help people living under the poverty line but according to World Bank report in some states more than 50% were misclassified as poor in other words they were not poor but reaped full benefits from these polices, but still by no means can these policies achieve their true objective, even without corruption free. How anti-poverty policy can and will work which make the poor`s dependents on government`s mercy rather than concentrating on human development by educating poor people, training and developing them so they can take care of themselves, the government chose spoon feeding. Human development is not alien Jerry Sternin owner of an NGO based in the United States helped Vietnam reduce malnourishment in 1990s without bringing a single dollar in the country, his work was finished in 6 months or so. Seeing good things in anti-poverty policy is like a finding a needle in a needle box with a needle.

The figure shows two very important things how India fare among BRIC countries and Second the working poor in India out of Total Employed working in India. Many poor people are not those who dont have job, in fact some poor are with jobs but their wages are low compared to International standards and it becomes difficult for them to increase their living standards.

The mistake which people generally make is when they start comparing India with Pakistan or Bangladesh, this is incorrect for many reasons, India is an enormous big country, its market share, volume is big, its population is big it should be compared more with China. China went in more difficult level in combating poverty than India, but being a communist, it has reduced poverty effectively. Its also true that in China the gap between Rich and Poor is widening but better to have that gap rather than letting your people live in poverty.

Since 1980 China has significantly brought people out of poverty where India has failed to achieve substantial reduction

In retrospect, not in even the next two decades, India can reduce poverty, for many reasons; first, the policies they have introduced which I have discussed earlier are still in practice. Second, the focus of these policies as I have mentioned earlier is not sincere and not focused on human development; the nuisance still and will continue. Third, even they all of a sudden change the policy, lets say tomorrow and bring fair policy with no corruption; even then it will take decades to achieve and reduce levels of impoverishment. This melancholy reality gives the notion of hubris and musing thinking that prevails in the country which is heedless in their direction unfortunately.

Further Reading

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Nelson, D. (2013, April 18). India has one third of worlds poorest, says World Bank. The Telegraph
World Bank report (2011). Social protection for changing India vol 1
Statistics of GDP on different countries by World Bank (2015) retrieved from:
http://data.worldbank.org/indicator/NY.GDP.PCAP.CD
World Economic Outlook Database, October 2015 Report for selected counties and subjects. International Monetary Fund (IMF).Retrieved from:
http://www.imf.org/external/pubs/ft/weo/2015/02/weodata/weorept.aspx?pr.x=49&pr.y=8&sy=2013&ey=2020&scsm=1&ssd=1&sort=country&ds=.&br=1&c=534&s=NGDPD%2CNGDPDPC%2CPPPGDP%2CPPPPC&grp=0&a=
Report for Selected Countries and Subjects: Afghanistan, Bangladesh, India, Indonesia, Malaysia, Nepal, Pakistan, Philippines, Sri Lanka, Thailand, International Monetary Fund, April 2011. Retrieve from:
http://www.imf.org/external/pubs/ft/weo/2011/01/weodata/weorept.aspx?pr.x=25&pr.y=15&sy=1991&ey=2012&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512%2C558%2C513%2C564%2C566%2C524%2C534%2C578%2C536%2C548&s=NGDPDPC&grp=0&a=
United Nations (2014, 2015) Human Development Report.
Statistics on India (2016) India Government debt to GDP, trending economics retrieved from:
http://www.tradingeconomics.com/india/government-debt-to-gdp
Notes
[1] World Economic Outlook Database, October 2015 Report for selected counties and subjects. International Monetary Fund (IMF).
[2] Statistics of GDP on different countries by World Bank (2015)
[3] Nelson, D. (2013, April 18). India has one third of worlds poorest, says World Bank. The Telegraph

[4] Statistics on India (2016) India Government debt to GDP, trending economics.
[5] Source: UN Department of Economic and Social affairs 2012, Poverty MGNREGA Statistics, (2012)
Juan Ghoto is a recent graduate in public administration. writing on comparative development and human rights issues.


Source link: http://www.globalresearch.ca/the-my...-rising-poverty-and-social-inequality/5562040

 

[nepali.nationalist]

Ch@ddi ko aadat hai Baghair RESEARCH kay Economy ki baat kernay ki ....Toilet hai nahi aur population explosion horaha hai ...GDP per capita AFRICA ki poor countries say bhi ghatiya hai ...mager jhooth bolnay mein mahir hain :biggthumpup:

Ch@ddi log ko chahiyay is article ki arty uttar dein :lol:

 

[nepali.nationalist]

Yeh GDP data aur baki data ko "fudge" ya cheat kernay ki aadat boht purani hai ...dont fall for such traps ...Toiletless is still Toiletless...:biggthumpup:

The great GDP fudge in India

Same data, opposite conclusions, Dr Subramanian?



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Written by Jairam Ramesh | Published:September 10, 2016 12:00 am

After the new GDP series was rolled out under the current government, it revealed that Indias GDP growth in 2013-14 was 6.9 per cent compared to the reported 5 per cent, as per the old methodology.(Illustration by: C R Sasikumar)

I am puzzled by the new GDP growth numbers. This is mystifying because these numbers, especially the acceleration, are at odds with other features of the macro economy. Import of goods declined. typically growth booms are accompanied by surges in imports not declines similarly, real gross capital formation declined. This was the chief economic advisor (CEA) Arvind Subramanian in an interview to the Business Standard on February 3, 2015. Lest you be fooled into believing that the CEA was being intellectually honest about the state of the current economy, he was actually talking about the revised GDP number for the year 2013-14, when UPA 2 was in power.

After the new GDP series was rolled out under the current government, it revealed that Indias GDP growth in 2013-14 was 6.9 per cent compared to the reported 5 per cent, as per the old methodology. A 6.9 per cent GDP growth in 2013-14 would have meant that India was the second fastest growing large economy in the world, after China. But the CEA expressed bewilderment at that number because he said this was in dissonance with the actual macro-economic reality. He explained meticulously how other economic parameters such as imports, gross capital formation etc are truer indicators of GDP growth and dismissed the view that Indias GDP could have grown as fast in 2013-14.

Fast forward to September 2016. Indias imports have fallen for 20 straight months. In April 2016, Indias imports touched a six-year low. Exports are still at 2011 levels, down significantly from the 2013 peak. Industrial production which creates real jobs in the economy is actually shrinking. Gross fixed capital formation has fallen. What does the same CEA have to say this time about the same macro-economic indicators It signals improvement in underlying real economy, holds out hope for the corporate sector.
In a poorly disguised attempt at face-saving, the CEA has waxed eloquent about how most commentators have misinterpreted the latest GDP numbers showing 7.1 per cent growth, driven almost entirely by government spending (IE, September 8). He says Nearly all commentary has focused on decline in constant price GVA and GDP. But real story lies in nominal magnitudes. This is the first time that we are being asked to judge the economys health by nominal GDP and not real GDP, that is GDP adjusted for inflation. In a hair-splitting effort, he argues we should focus on nominal growth, then argues that the nominal growth should not be assumed to be solely due to increase in prices but also an increase in quantity but does not explain if that was the case, then why not just use real growth directly.
Instead, he makes a convoluted point about corporate revenues growing faster than interest costs which could boost the currently anemic credit growth, going forward. He then lays out a string of conditions if monsoons boost agriculture growth, if falling exports have bottomed out, if the construction sector can perk up due to reforms then we can be cautiously optimistic about GDP growth.

Technical mumbo-jumbo and caveats aside, he essentially surmises that we should be ecstatic that nominal GDP growth is now in double digits. One really had to scrape the bottom of the barrel if one had to go back to the basics of nominal and real GDP growth and take solace in a nominal double-digit growth, albeit with cute quotes about nominal being real and real being nominal, this time.

All this hiding behind economic theory misses the simple point using exactly the same yardstick that the same CEA applied in passing judgment about Indias 2013-14 GDP growth calculated under the same methodology. Indias current state of the economy is in utter disarray. While we all endorse the Bernard Shaw quip that if all economists were laid end to end, they would never reach a conclusion, this one is about the same economist in the same position reading the same set of numbers but taking two diametrically opposite views. If the CEA had a well-argued position on his reservations about Indias 2013-14 GDP growth, then how can he be optimistic about the state of the current economy using exactly the same macro-economic parameters?

We have been repeatedly witness to this dangerous trait of the current government and its inhabitants becoming delusional with their own rhetoric. We saw that with the governments claim of savings of Rs 15,000 crore in the LPG subsidy scheme due to Aadhaar based Direct Benefits Transfer (DBT), which, again, the CEA endorsed healthily through similar articles in the English press. It turned out, as the CAG pointed out last month, that a meagre Rs 1,764 crore (approximately 10 per cent) of the subsidy savings was due to DBT and the remaining 90 per cent of the savings was due to the fall in global oil prices. The government and its CEA were simply disingenuous and resorted to such misleading claims to falsely justify their decision to table the Aadhaar bill as a money bill and pummel it through Parliament. The current claims of the CEA about the health of the economy are similarly misleading.

I have known Arvind Subramanian to be a fine and fearless economist for almost three decades. I have myself tried in the past to lure him back but the timing was not ripe for him. He has never been an apologist for anything dubious. My piece of unsolicited advice to him: Spin is a powerful tool in both cricket and politics but not in economics. Leave it to those who have made a brilliant career out of it such as his senior minister.

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[Mohan]

[h=2]Pakistan's economy facing revenue generation crisis: report[/h]Source : http://www.dawn.com/news/1202955

ISLAMABAD: Despite recent optimism surrounding Pakistan's economy, the country is facing an “existential crisis” stemming from its woeful tax collection rates and inability to finance itself, a report said Wednesday.
Pakistan's economy grew at 4.24 per cent during the 2014-2015 fiscal year with per capita income rising a significant 9.25 per cent, markers that come as investor confidence in the long-underperfoming South Asian giant have also increased.
But according to the report by non-profit organisation Raftar, funded by Britain's Department for International Development (DFID), Pakistan's economy continues to rely heavily on “commercial loans, concessionary donor loans and aid”.
The country's tax-to-GDP ratio of 9.4 per cent is among the lowest in the world, leading to a public debt of 17 trillion rupees ($163 billion). This an almost three-fold increase since 2008 for the $232 billion economy, with 44 per cent of tax revenue going toward interest payments.
The report blamed the lack of a “tax culture” on non-revenue sources of funds the country has historically enjoyed in the form of foreign aid and loans.
It said 68 per cent of tax revenue was being generated through indirect taxes on fuel, food and electricity, which unfairly penalises the poor.
The lack of revenue collection also negatively affects infrastructure development including power generation, with the country facing a massive shortfall of up to 4000MW in the summer that shaves about $15 billion off the country's GDP.
Pakistan is currently in a $6.6 billion loan programme with the International Monetary Fund, which was granted on condition that Islamabad carried out extensive economic reforms, particularly in the energy and taxation sectors.

 

[Mohan]

[h=1]For 2nd year in row: Pakistan’s economy will slow down to 3.4%, says ADB[/h]
Source : https://tribune.com.pk/story/690244...stans-economy-will-slow-down-to-3-4-says-adb/

ISLAMABAD:
If government officials are to be believed, Pakistan’s economic indicators are positive. But the forecasts of global lenders are not promising. Pakistan’s economy will slow down for a second consecutive year to 3.4%, according to the latest Asian Development Outlook forecasts. It has urged Islamabad to implement the unfinished agenda of structural reforms in energy and taxation sectors.

Unveiling Outlook 2014, the flagship report of the Asian Development Bank, ADB’s chief in Pakistan Werner Liepach said that a slowing growth rate will reduce the fiscal space needed to increase public spending on education and health sectors.
Currently, Pakistan spends less than 2% of its national output on education and just 0.7% on healthcare, Liepach said, adding that bulging public debts will also affect spending on healthcare and education.
Continued fiscal consolidation will keep the growth rate on the lower side, he added. “It [2014] is a difficult year because of fiscal adjustments.”
For the current financial year the government has set a 4.4% growth target while it claims the national economy grew by a ‘surprising’ 5% in the first quarter of the current fiscal. But the ADB says the growth rate will moderate to 3.4%, which is slightly above an IMF projection but far lower than the official target.

While the US and India are going to pick up, Pakistan is a bit stagnant and will grow by 3.4% in the current fiscal, said Liepach. Oil prices will relatively remain stable and the agriculture prices will also remain flat, he added. “The risk to uptick is that if China slows, Asia slows.”
Liepach said Pakistan’s economy was showing signs of recovery but “for the ADB, recovery means that a declining trend in economic indicators has been reversed, though a lot more needs to be done”. He said there was still a big unfinished agenda of structural reforms in the areas of energy, taxation and state-owned enterprises.
The ADB has a different view on the pace of privatisation as the money earned may not come as quick as expected, said Liepach. While the government remains committed to energy sector reforms, these need to be comprehensive and should expand to administrative measures, he added while stressing on the appointment of permanent heads of energy sector companies.
“Actual actions have either not been taken yet or have to show results,” he said. “What Pakistan is going to achieve this and next fiscal is not enough to get this country out of poverty and put it on the path to development,” he added.
Outlook-2014 states that various macroeconomic and security challenges continue to weigh on the economy, which need to be addressed to continue and sustain the current momentum.
Farzana Noshab, senior economic officer at ADB’s country office, said the budget deficit is expected to remain in line with the IMF-agreed annual target of 5.8% of GDP. But she cautioned that a resurge of circular debt and any delay in projected foreign flows could pose a risk to the target.
She said the recent improvements in foreign exchange reserves are encouraging but potential risks to external sector come from a delay in the expected inflows in the second half of the fiscal year.
Noshab said a reliable supply to the industrial sector led to 6.8% growth in large scale manufacturing in the first half of the fiscal – but within LSM, the textile sector grew below 2% in that period.
She said the industrial growth will drive growth in retail and transport sectors but the agriculture sector output will remain modest this year. The external sector showed positive signs but the current account deficit will remain 1.4% of GDP, she added.
Liepach said the bilateral grant from Saudi Arabia was a surprise and a windfall as well. Noshab was of the view that the State Bank of Pakistan did not have the luxury to intervene in foreign exchange market due to a low level of official forex reserves.

Published in The Express Tribune, April 2[SUP]nd[/SUP], 2014.

 

[Mohan]

[h=1]Is Pakistan's economy facing potential collapse?[/h]
Source: http://www.bbc.com/news/business-16713968

Pakistan's Prime Minister, Yousuf Raza Gilani, has told business leaders attending the World Economic Forum in Davos that his government is stable and Pakistan is open for business.
Mr Gilani tried to convince corporate bosses that despite all the worrying news coming out of Pakistan, his country remains one of the best destinations for foreign investment.
It's a tough sell on his part, not least because of the recent political tensions and a fragile security situation at home. But also because of the country's faltering economy, with its public finances in disarray and growth hampered by the steady erosion of investor confidence.
In fact, there are growing fears that with economic risks multiplying, the country could be heading towards a financial meltdown of sorts.
[h=2]Structural imbalances[/h]According to the International Monetary Fund (IMF), Pakistan's economy grew by only 2.4% last year, one of the lowest in the region and way behind India, Sri Lanka and Bangladesh.
At the heart of Pakistan's fiscal problem are some chronic structural imbalances. In a country of 180 million, less than 1% of people pay income tax. Billions of rupees of government revenue never make it into the treasury because of leakages, waste and corruption.

Yes, Pakistan's economy is struggling, but it is not in a freefall or even on the verge of itS Akbar Zaidi, Economist​

The country's public sector enterprises - such as, Pakistan International Airlines and Pakistan Railways - are ailing due to mismanagement and blatant inefficiencies. Industrial production and exports are hampered by crippling energy shortages, often leading to violent protests.
Absence of private sector investment means fewer jobs and a growing number of unemployed youths. Particularly unbearable for the majority of low-income Pakistani families was the unprecedented continuous double-digit inflation during most of Mr Gilani's four years in office.
[h=2]'Inconsistency and confusion'[/h]Critics of Mr Gilani say that in the face of his government's dismal economic performance, his upbeat statements show the government is either in denial or ignorant of realities.
"During the last four years, we have seen four governors change hands at the State Bank of Pakistan, four finance ministers, four finance secretaries, and five heads of the Central Board of Revenue," points out Dr Ashfaq Hasan Khan, a former adviser to Pakistan's Ministry of Finance.

Image captionMr Gilani came to office in 2008 amid turmoil on the world's financial markets"The level of turnover in the government's economic team only reflects the inconsistency and confusion with which they have handled the economy."
But Pakistani officials insist that after a difficult patch, the economy is showing signs of bouncing back. Figures from the first six months of the current fiscal year show significant improvement in remittances and exports - mostly led by cotton crop production, which was much better than expected.
With foreign exchange reserves at about $16bn (10.2bn), the government says it is optimistic that the economy will grow at a little less than 4% this year.
[h=2]Bumpy start[/h]Economist S Akbar Zaidi believes there is a silver lining and rejects predictions of Pakistan's imminent economic collapse.
"Yes, Pakistan's economy is struggling, but it is not in a freefall or even on the verge of it," he says.
[h=2]2011 Real GDP growth (projected)[/h]

• China: 9.5%
• India: 7.8%
• Sri Lanka: 7.0%
• Bangladesh: 6.3%
• Pakistan: 2.4%*

Source: IMF World Economic Outlook
*Actual growth taken from Pakistan Economic Survey

"In fact, in my view, the economy is doing surprisingly better than expected under the circumstances. The economy has shown itself to be much more resilient than many people would like to admit. With necessary structural reforms, Pakistan has all the potential to rise above its current low growth trap."
To be fair, Mr Gilani got off to a bumpy start when he came into office in 2008. It proved to be a disastrous year for Pakistan's economy, mainly due to external shocks it suffered from the sudden rise in world oil prices and the global financial turmoil.
The crisis forced Pakistan to turn to the IMF for support in order to shore up its depleting foreign exchange reserves.
The IMF gave Pakistan billions of dollars in return for its pledge to introduce the much needed fiscal and tax reforms, restructure its power sector, and cut food and energy subsidies. The government attempted to introduce some of the reforms, but soon backed off in the face of public opposition.
By 2010, the IMF was forced to suspend the release of its last two instalments over Pakistan's persistent failure to undertake painful, but long overdue, structural reforms.

Image captionThere were public protests against gas shortages and price hikes in Rawalpindi, Pakistan earlier this yearSeen in this context, the IMF's recent experience with Pakistan has not been very reassuring. And yet, there are growing signs that Pakistan may have to go back to the lender for a bailout package, if the trade gap keeps growing and foreign assistance is not forthcoming.
In such a case, experts say, the negotiations will be much tougher, and conditions much harder.
[h=2]Pre-election mood[/h]Pakistan's economic managers hope it won't come down to that. But what if it does?
In that case, the timing of Pakistan's return to the IMF will be determined as much by the pace at which the economy sinks, as by political developments.
Parliamentary polls aren't due in Pakistan until this time next year. But the country already appears to have entered pre-election mode.
Unless dislodged earlier, Mr Gilani's government fully expects to present its last budget this June. Chances are it will be a populist budget aimed at pleasing voters to boost his party's chances of re-election a few months down the road.
The perceived policy paralysis of Mr Gilani's government in taking urgent and decisive measures is therefore likely to be stretched until the end of his term.
It would then be up to the new government to move quickly to address the country's chronic economic challenges.

 

[Mohan]

[h=1]Half a Million Jobs Lost as Textile Crisis Hits Pakistan's Economy[/h]
Source: https://www.bloomberg.com/news/arti...chi-factory-signals-pakistan-s-textile-crisis

A neglected waiting area, empty reception and dim lights greet visitors at what used to be the biggest textile factory in the northern industrial area of Pakistan’s economic hub.
At its peak Al-Abid Silk Mills Ltd. employed 7,600 employees in Karachi, now only a handful can be seen in the near-abandoned garment workshop. It’s one of hundreds that have shut down over the past few years, contributing to Pakistan’s exports falling to their lowest in six years.

An abandoned textile factory.

Photographer: Asim Hafeez/Bloomberg
Exporters from South Asia’s second-largest economy, including textile manufacturers who account for more than half of all overseas shipments, say buyers have shifted to countries including Bangladesh and Vietnam as continual power outages impede their ability to meet order deadlines, while complaining that the government has provided scant support.
“The government has never planned how we need to go forward with the textile industry,” Naseem Sattar, the 80-year-old chief executive officer of Al-Abid, said as he smoked in his office in the derelict plant. “Such a factory is considered a national asset and we got no help.”

Despite a pick up in economic growth after the government submitted to an International Monetary Fund program in 2013 to avert a balance of payment crisis, Pakistan’s exports have fallen as global demand slows and the nation tries to overcome an energy shortage. Overseas shipments for the year through June fell to $21 billion, the lowest level since 2010, according to Pakistan Bureau of Statistics.
“Internally you have constraints on energy and then manufacturing keeping exports down,” said Turab Hussain, head of the economics department at the Lahore University of Management Sciences. “If oil prices go up and exports don’t pick up there will be pressure on your balance of payments and currency.”
About 100 member factories have shut down and at least 500,000 people have lost jobs in the past two years, according to Saleem Saleh, acting secretary general of All Pakistan Textile Mills Association, the biggest contributor to the nation’s textile exports. About two-thirds of the members of the Pakistan Bedwear Exporters Association have stopped working in the past five years, according to its head Shabir Ahmed.
Most factories shutting down are small or mid-sized plants unable to bear the extra cost of prolonged power outages. Meanwhile, larger factories have invested in their own power, including diesel generators, to cope with the nation’s electricity deficit of about 3,000 megawatts.

The IMF, which is set to conclude its three-year, $6.6 billion loan program with Pakistan at the end of this month, is pointing to a number of causes, including the local currency it says is overvalued by as much as 20 percent.
“The continued decline in exports is a cause for concern, to a good extent that’s due to a fall in international prices for cotton and other commodities,” Harald Finger, the IMF’s mission chief for Pakistan, said in a July interview. Domestically “there are security issues, there are continued power outages, even though they are declining now, that’s still a factor. There are issues around the business climate, and so on, and also one of these factors is also the real effective exchange rate.”

Yarn bobbins sit in a closed textile mill.

Photographer: Asim Hafeez/Bloomberg
About half of the Pakistan’s exports are shipped to six countries, while 40 percent of total textile exports are primary commodities, including cotton yarn sent to China, Minister of Commerce Khurram Dastgir Khan told lawmakers in Islamabad’s parliament on Sept. 5. Pakistan’s apparel exports grew less than half the pace of Bangladesh and Vietnam before the recent fall during 2005 to 2012, according to World Bank data.
For buyers, Pakistan’s competitors are also more alluring due to the country’s tarnished security image after years of insurgency, bombings and violence.
[h=3]Security Perception[/h]The most important business stories of the day.
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“If you can get the same price in Vietnam or India or Bangladesh, I think it’s still the case that most purchasers will still choose the other countries because their purchasing managers dare to go there,” said Mattias Martinsson, the Stockholm-based chief investment officer at Tundra Founder AB, which holds about $160 million in Pakistani stocks. “They can go freely around and don’t have to be afraid” which isn’t their perception of Pakistan, he said.Even so, the country’s security situation has improved with an army push against insurgents after more than 100 students were killed by the Pakistani Taliban at a military school in 2014 in the northern city of Peshawar. About 449 people died in terrorist-related violence last year, the lowest in 10 years, according to the South Asia Terrorism Portal.
The government recognizes the industry’s malaise and Prime Minister Nawaz Sharif on a visit to Karachi on Sept. 8 said boosting exports is a top priority and his administration will soon announce relief measures.
[h=3]‘Cannot Ignore’[/h]Sharif is also pegging his 2018 re-election prospects on ending the daily power blackouts, relying on a surge of Chinese investment and projects worth $46 billion that were announced last year.
“Economic growth and exports are interlinked,” Sharif said. “We cannot afford to ignore our exports.”

A worker operates a sewing machine at a textile manufacturer in Karachi.

Photographer: Asim Hafeez/Bloomberg
Pakistan already announced in June a zero-rated sales tax regime for five export industries, including textiles. Borrowing has become more attractive with the discount rate at its lowest in more than four decades. Sharif this month asked the ministry of commerce to arrange a duty-free import of five million bales of cotton to plug a domestic shortage this year.
Despite these measures, State Bank of Pakistan Governor Ashraf Mahmood Wathra says the nation needs to diversify products and exports markets away from those on a declining trend. However, he expects improved electricity and gas supplies this year to stem some of the drop in exports.
[h=3]‘Very Happy’[/h]“When I speak to industrialists, I see them more comfortable than two-to-three years ago,” Wathra said. Textile exporters complain about tax refunds being delayed by the authorities, but otherwise “they are very happy with the interest rate and refinance rate,” he said.
Sattar, whose factory used to make $100 million annual revenue at its peak, doesn’t agree. He wants to get his plant running again, but is unable to repay loans taken to purchase the milling machines. Sattar is now being hounded by banks and the country’s anti-graft agency, he said.
“If you are drowning, they push you further down,” he said. “Textiles are going away from Pakistan.”

Before it's here, it's on the Bloomberg

 

[ASQR1]

the biggest reason for Indian to lag behind china is Cast system, they will never be able to get rid of it as they have tried and failed miserably all the times, it is embedded in their blood and psyche.

Hinduism promotes cast system.

 

[nepali.nationalist]

[h=2]Is PSX the best stock market in Asia?[/h]DR ALI KHALIL MALIK — UPDATED Jan 16, 2017 12:51pm

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For a country with multiple problems it is amazing to see its stock market declared the best performing in Asia and the fifth best performing market in the world, in 2016.
With an annual rate of return of around 45pc, should we be proud?
The academic belief is that markets are driven by fundamentals and stock prices follow a random path. Similar to a coin toss, stock prices are unpredictable.
In an efficient market one cannot consistently generate abnormal returns using past stock data or publicly available information. In simple words unless one has access to private information one cannot consistently generate above average returns.
The return on average will be what is commensurate with the risk of the stock. But the Pakistan Stock Exchange (PSX) defies all of the above academic beliefs.
Perhaps it is markets like these which economist John Keynes had in mind when he referred to financial markets being driven by ‘animal spirits’, or when former FED chairman Alan Greenspan used the term ‘irrational exuberance’ to refer to overvalued stocks .
This then brings us to the question, is this growth due to improvement in fundamentals? Or is it a speculative bubble of which everyone is aware but it still continues to grow.

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[h=4]With an annual rate of return of around 45pc, should we be proud?[/h]

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For a country with an annual GDP growth rate of 4.7pc it looks impressive that its stock market continues to outperform those of its neighbours, India and China (both economies expanding at more than 6pc per annum).
Both countries have economic indicators which outperform those of Pakistan.
PSX is a high risk market, with intra-day volatility much higher compared to other markets. A more realistic method of comparing its performance would be the Sharpe Ratio, which compares the return per unit of risk.
For foreigners, the PSX does appear to be a market which consistently generates high returns. As the market is virtually immune to global events, it is ideal for portfolio diversification for those for whom high market risk is not a problem.
The PSX is a perfect example of capitalism: wealth circulating in a few hands, the rich getting richer and the poor getting poorer.
Time and again the government uses the stock market as an example of its economic performance. But where is the trickle-down effect of the stock market? A few individuals use it to multiply their wealth. How many new IPO’s have taken place in the recent year? Has the saving rate gone up?
The real estate sector and the stock market are the primary tools for the elite to increase its wealth and whiten black money.
Let me address two important arguments in favour of the PSX.
While the fundamental value of the stocks is increasing, prices are simply reflecting those values; the P/E ratio of the stocks is still lower compared to those in other countries.
Looking on the fundamental argument: stock valuation is a subjective process and even when applying the widely utilised ‘dividend-discount model’ (taking stock as a going concern) expected dividends (or FCFE in case of no dividends) have to be estimated along with other parameters (which are sometimes assumed).
Similarly the all-important discount rate has to be calculated based on the systematic risk (beta) of the stock. The whole process can be easily manipulated to produce fundamental values as per preferences.
Regarding the P/E argument, a P/E ratio depends on the present value of the growth opportunities available to a firm. A firm with zero or no growth opportunities available will have a P/E ratio of 1.
But to say for example that Google has a P/E ratio of 26 so the tech firms in Pakistan should also have a P/E ratio of 26 is a completely illogical argument.
The government in its own its defence can bring the argument that the economic outlook is improving which is reflected in Pakistan’s improved ratings. True, rating is complex process, but one must keep in mind the case of Enron and AIG which had an ‘AAA’ rating (highest available) one day before default. These companies awarded the ‘AAA’ rating.
At the end of the day the rating companies are just the inbuilt defence mechanisms of capitalism and the banking industry.
—The author is a former faculty member of the Lahore University of Management Sciences and the Karachi School of Business and Leadership.
Published in Dawn, Business & Finance weekly, January 16th, 2017

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Pakistan's economy facing revenue generation crisis: report

Source : http://www.dawn.com/news/1202955

ISLAMABAD: Despite recent optimism surrounding Pakistan's economy, the country is facing an “existential crisis” stemming from its woeful tax collection rates and inability to finance itself, a report said Wednesday.
Pakistan's economy grew at 4.24 per cent during the 2014-2015 fiscal year with per capita income rising a significant 9.25 per cent, markers that come as investor confidence in the long-underperfoming South Asian giant have also increased.
But according to the report by non-profit organisation Raftar, funded by Britain's Department for International Development (DFID), Pakistan's economy continues to rely heavily on “commercial loans, concessionary donor loans and aid”.
The country's tax-to-GDP ratio of 9.4 per cent is among the lowest in the world, leading to a public debt of 17 trillion rupees ($163 billion). This an almost three-fold increase since 2008 for the $232 billion economy, with 44 per cent of tax revenue going toward interest payments.
The report blamed the lack of a “tax culture” on non-revenue sources of funds the country has historically enjoyed in the form of foreign aid and loans.
It said 68 per cent of tax revenue was being generated through indirect taxes on fuel, food and electricity, which unfairly penalises the poor.
The lack of revenue collection also negatively affects infrastructure development including power generation, with the country facing a massive shortfall of up to 4000MW in the summer that shaves about $15 billion off the country's GDP.
Pakistan is currently in a $6.6 billion loan programme with the International Monetary Fund, which was granted on condition that Islamabad carried out extensive economic reforms, particularly in the energy and taxation sectors.

 

[nepali.nationalist]

Our economy is going to be transformed. with CPEC ..The figures you showed are from the past 15 years which the NATO war in afghanistan and t3rrorism from india has been affecting us ..

[h=1]‘CPEC to create millions of jobs’[/h]Home / Today's Paper / Lahore / ‘CPEC to create millions of jobs’

December 31, 2016
Print : Lahore

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LAHOREThe completion of China-Pakistan Economic Corridor will not only make Pakistan economically self-reliant but establishment of new industries around it will boost the business and industrial activities, creating millions of jobs, said Rohail Dar, president, Pakistan Muslim League-N, USA.Addressing a reception arranged in honour of Pakistan Poultry Association (PPA) Secretary General, Major (Retd) Syed Javed Hussain Bokhari here on Friday, Rohail claimed that effects of PML-N economic policies had started reaching the common man. Projects being under taken in energy sector would end loadshedding next year, he said.Syed Anwer Wasti, PML-N USA Secretary Information hoped that these projects would produce electricity in abundance for the industrial and domestic use on cheaper rates.The government is setting up power plants fired by gas having capacity of producing 3,600 megawatt while Nepra has also brought down the electricity tariff from Rs 10.30 per unit to 6.30 per unit, he said.

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Half a Million Jobs Lost as Textile Crisis Hits Pakistan's Economy


Source: https://www.bloomberg.com/news/arti...chi-factory-signals-pakistan-s-textile-crisis

A neglected waiting area, empty reception and dim lights greet visitors at what used to be the biggest textile factory in the northern industrial area of Pakistan’s economic hub.
At its peak Al-Abid Silk Mills Ltd. employed 7,600 employees in Karachi, now only a handful can be seen in the near-abandoned garment workshop. It’s one of hundreds that have shut down over the past few years, contributing to Pakistan’s exports falling to their lowest in six years.

An abandoned textile factory.

Photographer: Asim Hafeez/Bloomberg
Exporters from South Asia’s second-largest economy, including textile manufacturers who account for more than half of all overseas shipments, say buyers have shifted to countries including Bangladesh and Vietnam as continual power outages impede their ability to meet order deadlines, while complaining that the government has provided scant support.
“The government has never planned how we need to go forward with the textile industry,” Naseem Sattar, the 80-year-old chief executive officer of Al-Abid, said as he smoked in his office in the derelict plant. “Such a factory is considered a national asset and we got no help.”

Despite a pick up in economic growth after the government submitted to an International Monetary Fund program in 2013 to avert a balance of payment crisis, Pakistan’s exports have fallen as global demand slows and the nation tries to overcome an energy shortage. Overseas shipments for the year through June fell to $21 billion, the lowest level since 2010, according to Pakistan Bureau of Statistics.
“Internally you have constraints on energy and then manufacturing keeping exports down,” said Turab Hussain, head of the economics department at the Lahore University of Management Sciences. “If oil prices go up and exports don’t pick up there will be pressure on your balance of payments and currency.”
About 100 member factories have shut down and at least 500,000 people have lost jobs in the past two years, according to Saleem Saleh, acting secretary general of All Pakistan Textile Mills Association, the biggest contributor to the nation’s textile exports. About two-thirds of the members of the Pakistan Bedwear Exporters Association have stopped working in the past five years, according to its head Shabir Ahmed.
Most factories shutting down are small or mid-sized plants unable to bear the extra cost of prolonged power outages. Meanwhile, larger factories have invested in their own power, including diesel generators, to cope with the nation’s electricity deficit of about 3,000 megawatts.

The IMF, which is set to conclude its three-year, $6.6 billion loan program with Pakistan at the end of this month, is pointing to a number of causes, including the local currency it says is overvalued by as much as 20 percent.
“The continued decline in exports is a cause for concern, to a good extent that’s due to a fall in international prices for cotton and other commodities,” Harald Finger, the IMF’s mission chief for Pakistan, said in a July interview. Domestically “there are security issues, there are continued power outages, even though they are declining now, that’s still a factor. There are issues around the business climate, and so on, and also one of these factors is also the real effective exchange rate.”

Yarn bobbins sit in a closed textile mill.

Photographer: Asim Hafeez/Bloomberg
About half of the Pakistan’s exports are shipped to six countries, while 40 percent of total textile exports are primary commodities, including cotton yarn sent to China, Minister of Commerce Khurram Dastgir Khan told lawmakers in Islamabad’s parliament on Sept. 5. Pakistan’s apparel exports grew less than half the pace of Bangladesh and Vietnam before the recent fall during 2005 to 2012, according to World Bank data.
For buyers, Pakistan’s competitors are also more alluring due to the country’s tarnished security image after years of insurgency, bombings and violence.
Security Perception

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“If you can get the same price in Vietnam or India or Bangladesh, I think it’s still the case that most purchasers will still choose the other countries because their purchasing managers dare to go there,” said Mattias Martinsson, the Stockholm-based chief investment officer at Tundra Founder AB, which holds about $160 million in Pakistani stocks. “They can go freely around and don’t have to be afraid” which isn’t their perception of Pakistan, he said.Even so, the country’s security situation has improved with an army push against insurgents after more than 100 students were killed by the Pakistani Taliban at a military school in 2014 in the northern city of Peshawar. About 449 people died in terrorist-related violence last year, the lowest in 10 years, according to the South Asia Terrorism Portal.
The government recognizes the industry’s malaise and Prime Minister Nawaz Sharif on a visit to Karachi on Sept. 8 said boosting exports is a top priority and his administration will soon announce relief measures.
‘Cannot Ignore’

Sharif is also pegging his 2018 re-election prospects on ending the daily power blackouts, relying on a surge of Chinese investment and projects worth $46 billion that were announced last year.
“Economic growth and exports are interlinked,” Sharif said. “We cannot afford to ignore our exports.”

A worker operates a sewing machine at a textile manufacturer in Karachi.

Photographer: Asim Hafeez/Bloomberg
Pakistan already announced in June a zero-rated sales tax regime for five export industries, including textiles. Borrowing has become more attractive with the discount rate at its lowest in more than four decades. Sharif this month asked the ministry of commerce to arrange a duty-free import of five million bales of cotton to plug a domestic shortage this year.
Despite these measures, State Bank of Pakistan Governor Ashraf Mahmood Wathra says the nation needs to diversify products and exports markets away from those on a declining trend. However, he expects improved electricity and gas supplies this year to stem some of the drop in exports.
‘Very Happy’

“When I speak to industrialists, I see them more comfortable than two-to-three years ago,” Wathra said. Textile exporters complain about tax refunds being delayed by the authorities, but otherwise “they are very happy with the interest rate and refinance rate,” he said.
Sattar, whose factory used to make $100 million annual revenue at its peak, doesn’t agree. He wants to get his plant running again, but is unable to repay loans taken to purchase the milling machines. Sattar is now being hounded by banks and the country’s anti-graft agency, he said.
“If you are drowning, they push you further down,” he said. “Textiles are going away from Pakistan.”

Before it's here, it's on the Bloomberg

 

[ASQR1]

[h=1]Half a Million Jobs Lost as Textile Crisis Hits Pakistan's Economy[/h]
Source: https://www.bloomberg.com/news/arti...chi-factory-signals-pakistan-s-textile-crisis

A neglected waiting area, empty reception and dim lights greet visitors at what used to be the biggest textile factory in the northern industrial area of Pakistans economic hub.
At its peak Al-Abid Silk Mills Ltd. employed 7,600 employees in Karachi, now only a handful can be seen in the near-abandoned garment workshop. Its one of hundreds that have shut down over the past few years, contributing to Pakistans exports falling to their lowest in six years.

An abandoned textile factory.

Photographer: Asim Hafeez/Bloomberg
Exporters from South Asias second-largest economy, including textile manufacturers who account for more than half of all overseas shipments, say buyers have shifted to countries including Bangladesh and Vietnam as continual power outages impede their ability to meet order deadlines, while complaining that the government has provided scant support.
The government has never planned how we need to go forward with the textile industry, Naseem Sattar, the 80-year-old chief executive officer of Al-Abid, said as he smoked in his office in the derelict plant. Such a factory is considered a national asset and we got no help.

Despite a pick up in economic growth after the government submitted to an International Monetary Fund program in 2013 to avert a balance of payment crisis, Pakistans exports have fallen as global demand slows and the nation tries to overcome an energy shortage. Overseas shipments for the year through June fell to $21 billion, the lowest level since 2010, according to Pakistan Bureau of Statistics.
Internally you have constraints on energy and then manufacturing keeping exports down, said Turab Hussain, head of the economics department at the Lahore University of Management Sciences. If oil prices go up and exports dont pick up there will be pressure on your balance of payments and currency.
About 100 member factories have shut down and at least 500,000 people have lost jobs in the past two years, according to Saleem Saleh, acting secretary general of All Pakistan Textile Mills Association, the biggest contributor to the nations textile exports. About two-thirds of the members of the Pakistan Bedwear Exporters Association have stopped working in the past five years, according to its head Shabir Ahmed.
Most factories shutting down are small or mid-sized plants unable to bear the extra cost of prolonged power outages. Meanwhile, larger factories have invested in their own power, including diesel generators, to cope with the nations electricity deficit of about 3,000 megawatts.

The IMF, which is set to conclude its three-year, $6.6 billion loan program with Pakistan at the end of this month, is pointing to a number of causes, including the local currency it says is overvalued by as much as 20 percent.
The continued decline in exports is a cause for concern, to a good extent thats due to a fall in international prices for cotton and other commodities, Harald Finger, the IMFs mission chief for Pakistan, said in a July interview. Domestically there are security issues, there are continued power outages, even though they are declining now, thats still a factor. There are issues around the business climate, and so on, and also one of these factors is also the real effective exchange rate.

Yarn bobbins sit in a closed textile mill.

Photographer: Asim Hafeez/Bloomberg
About half of the Pakistans exports are shipped to six countries, while 40 percent of total textile exports are primary commodities, including cotton yarn sent to China, Minister of Commerce Khurram Dastgir Khan told lawmakers in Islamabads parliament on Sept. 5. Pakistans apparel exports grew less than half the pace of Bangladesh and Vietnam before the recent fall during 2005 to 2012, according to World Bank data.
For buyers, Pakistans competitors are also more alluring due to the countrys tarnished security image after years of insurgency, bombings and violence.
[h=3]Security Perception[/h]The most important business stories of the day.
Get Bloomberg's daily newsletter.
Sign Up




If you can get the same price in Vietnam or India or Bangladesh, I think its still the case that most purchasers will still choose the other countries because their purchasing managers dare to go there, said Mattias Martinsson, the Stockholm-based chief investment officer at Tundra Founder AB, which holds about $160 million in Pakistani stocks. They can go freely around and dont have to be afraid which isnt their perception of Pakistan, he said.Even so, the countrys security situation has improved with an army push against insurgents after more than 100 students were killed by the Pakistani Taliban at a military school in 2014 in the northern city of Peshawar. About 449 people died in terrorist-related violence last year, the lowest in 10 years, according to the South Asia Terrorism Portal.
The government recognizes the industrys malaise and Prime Minister Nawaz Sharif on a visit to Karachi on Sept. 8 said boosting exports is a top priority and his administration will soon announce relief measures.
[h=3]Cannot Ignore[/h]Sharif is also pegging his 2018 re-election prospects on ending the daily power blackouts, relying on a surge of Chinese investment and projects worth $46 billion that were announced last year.
Economic growth and exports are interlinked, Sharif said. We cannot afford to ignore our exports.

A worker operates a sewing machine at a textile manufacturer in Karachi.

Photographer: Asim Hafeez/Bloomberg
Pakistan already announced in June a zero-rated sales tax regime for five export industries, including textiles. Borrowing has become more attractive with the discount rate at its lowest in more than four decades. Sharif this month asked the ministry of commerce to arrange a duty-free import of five million bales of cotton to plug a domestic shortage this year.
Despite these measures, State Bank of Pakistan Governor Ashraf Mahmood Wathra says the nation needs to diversify products and exports markets away from those on a declining trend. However, he expects improved electricity and gas supplies this year to stem some of the drop in exports.
[h=3]Very Happy[/h]When I speak to industrialists, I see them more comfortable than two-to-three years ago, Wathra said. Textile exporters complain about tax refunds being delayed by the authorities, but otherwise they are very happy with the interest rate and refinance rate, he said.
Sattar, whose factory used to make $100 million annual revenue at its peak, doesnt agree. He wants to get his plant running again, but is unable to repay loans taken to purchase the milling machines. Sattar is now being hounded by banks and the countrys anti-graft agency, he said.
If you are drowning, they push you further down, he said. Textiles are going away from Pakistan.

Before it's here, it's on the Bloomberg

You are a dooms day selector and only choose it because of your hatred for Pakistan. Let me enlighten you a little, Pakistan economy is changing and the world is predicting that its economy will be better than even Canada as per you Indian Radio news in Toronto. go and check it out. so stop the hatred and start the truth and stop cast system, it will be the only one thing that will help you. but you will continue to do what you do, than listening to truth and will come back and try some other coments and one sided survey that only you like it because it shows bad about Pakistan.

 

[ASQR1]

bhaijan . pakistan ek super power hai , lekin koi mulk hame asylum kyo nahi deta ?
hum developed country hai lekin daily 308 pakistani mazdoor daily expel kiye jaate hai.

IS LEIY KEH AAP KO SIRF Pakistan KI KHARABIAN NAZAR AATRI HAIN, ZARAS AKHAIN KHOLO OR DUNYA KO DEKHO, America MAIN ITNI GURBAT HEY MID AMERICA MINE, SO HINDUSTAN DUNYA KA SAB SEY GHARIB MULK HEY WAHAN PER TIOLET BHI NAHI HAIN.

 

[nepali.nationalist]

Developed country kay citizens ko koi asylum nahi deta ...Sirf endians ko hi mil raha tha abhi tuk kiyoonki Toilet nahi hai aur r@pe capital hai ....Mexico ka rasta ab bund hochuka hai ..trump thukai keray ga ...[hilar]

bhaijan . pakistan ek super power hai , lekin koi mulk hame asylum kyo nahi deta ?
hum developed country hai lekin daily 308 pakistani mazdoor daily expel kiye jaate hai.

 

[Indika]

Developed country kay citizens ko koi asylum nahi deta ...Sirf endians ko hi mil raha tha abhi tuk kiyoonki Toilet nahi hai aur r@pe capital hai ....Mexico ka rasta ab bund hochuka hai ..trump thukai keray ga ...[hilar]

pakistan ek developed country hai super power hai , kaise nahi denge asylum. 40000 pakistani laat maar kar nikala ?

atomic power ki aisi beizzati ?

 

[amigo]

bhaijan . pakistan ek super power hai , lekin koi mulk hame asylum kyo nahi deta ?
hum developed country hai lekin daily 308 pakistani mazdoor daily expel kiye jaate hai.

Aap pehlay apna damagh theek karo. Indian ho ker Karachi, Pakistan location mein likhtay ho aur hindi zaban mein Pakistani ban ker likhtay ho.

 

[nepali.nationalist]

sirf bhookay nangon ko asylum milta hai ...endia ka GDP per head sub-saharan africa countries say bhi bater hai isliay asylum detay hain ..Average Pakistani is much richer ...

pakistan ek developed country hai super power hai , kaise nahi denge asylum.

 

[nepali.nationalist]

Musla yeh hai kay "Toiletless R@pe Capital" ka citizen hai ...naam laytay issay sherm aati hai [hilar][hilar][hilar]

Aap pehlay apna damagh theek karo. Indian ho ker Karachi, Pakistan location mein likhtay ho aur hindi zaban mein Pakistani ban ker likhtay ho.

 

[nepali.nationalist]

please check aukaat ..:biggthumpup:


[FONT=&amp]Indian rail is world's largest 'open toilet': Jairam Ramesh

[/FONT]
India | Agence France-Presse | Updated: July 27, 2012 16:12 IST

​

NEW DELHI: Rural Development Minister Jairam Ramesh has proposed projects worth $130 million project to rid India of the scourge of open defecation and clean up a rail system he described as the world's "largest open toilet", reports said on Friday.

Jairam Ramesh told a meeting in New Delhi on Thursday that India, where 130 million households are without a latrine, accounted for 60 per cent of the global volume of open defecation.

"This is a matter of great shame, anguish, sorrow, and actually anger," Mr Ramesh, who is also responsible for the Ministry of Drinking Water and Sanitation, was quoted as saying by the Times of India.

He unveiled a proposal to spend 1.5 billion rupees ($28 million) to provide 100,000 bio-toilets to villages across India in the next two years.

He also proposed a 5.0 billion rupee project to replace the open-hole toilets on the 50,000 coaches that ply India's vast railway network with bio-toilets over the next five years.

Carrying 11 million passengers a day, Indian Railways "is really the largest open toilet in the world", Mr Ramesh said, adding that his ministry would be willing to pick up half the cost of the toilet re-fit.

pakistan ek developed country hai super power hai , kaise nahi denge asylum. 40000 pakistani laat maar kar nikala ?

atomic power ki aisi beizzati ?

 

[Indika]

Aap pehlay apna damagh theek karo. Indian ho ker Karachi, Pakistan location mein likhtay ho aur hindi zaban mein Pakistani ban ker likhtay ho.

sirf bhookay nangon ko asylum milta hai ...endia ka GDP per head sub-saharan africa countries say bhi bater hai isliay asylum detay hain ..Average Pakistani is much richer ...

Musla yeh hai kay "Toiletless R@pe Capital" ka citizen hai ...naam laytay issay sherm aati hai [hilar][hilar][hilar]

auqat to dunia me sabse niche se ek upar passport, hum log chand par five years ago pahunch gaye hai.lal topi wala joker kahta hai.

 

[bakhshu.pk]

IS LEIY KEH AAP KO SIRF Pakistan KI KHARABIAN NAZAR AATRI HAIN, ZARAS AKHAIN KHOLO OR DUNYA KO DEKHO, America MAIN ITNI GURBAT HEY MID AMERICA MINE, SO HINDUSTAN DUNYA KA SAB SEY GHARIB MULK HEY WAHAN PER TIOLET BHI NAHI HAIN.

hum log dunia ke bakhshu hai , hamari koi auqat nahi hai.
hum america ke bakhsu the ,
hum saudi arab ke bakhshu
hum ab china ke bakhshu .
hamari kismat me yahi hai ,
dusari taraf india 104 satellite ek sath upar bhej kar world ka no.one ho gaya.hai , hum log passport me no do hai .