Though they tried to stall its implementation when they were in the opposition, the BJP was in a tearing hurry to implement GST once they formed the govt. So, they pushed through a half-baked piece of legislation. And, even had a special midnight session of Parliament to mark the roll out of Goods and Services Tax (GST) in the country. A gong sounded at midnight ‘announced’ that GST had arrived. GST was supposed to simplify a web of taxes, regulations and border levies by subsuming an array of central and state levies including excise duty, service tax and VAT – but that hasn't happened in spite of several amendments. Both GST and demonetisation has taken its toll on the smooth functioning of small businesses. The IMF has called for “urgent policy actions” to reverse the “significant economic slowdown” – i.e., growth in the second quarter of FY 2019/20 has come in at a six-year low of 4.5% (y/y). Ranil Salgado, Mission Chief for India in the IMF Asia and Pacific observed, “India already has a relatively high general go nment deficits and general go nment debt."
Sagacious JoKeR
"India is now in the midst of a significant economic slowdown…. Addressing the current downturn and returning India to a high growth path requires urgent policy actions,” Ranil Salgado of the IMF Asia and Pacific Department told reporters.
Renjith(Kerala): The Prime Minister's pre-election slogan was: Modi hai toh mumkin hai (with Modi, everything is possible). And now, you're trotting out excuses on his behalf for below par performance.
90%的国家都面临经济放缓的形势，为什么我们的股票市场创下了历史新高，印度人6天内在亚马逊和Flipkart花了1900亿卢比，也就是超过25亿美元?
是什么让ranjth先生觉得他的偶像有办法？现在印度出问题了，这表明长权者中没有人可行的经验。
Narendra Modi has the ideas and the decisiveness but many of his programmes failed to make sweeping positive impact on the daily life of common man is because he is totally dependent on a century old lackluster bureaucratic system in India. He has so far failed to revamp the administrative system in India. If India needs to be developed then it must get rid of the British Raj era bureaucracy. In this highly competitive world, do you think such kind of a pathetic corrupt bureaucratic system can live up to the expectations a large country like India with such a huge population ? Just see the way the local administrative system in various states works..no accountability, no performance indicators, Govt servants come and do their job according to their wish. No credible check and balance. It is like building a house, if the foundation is weak, then the house would collapse. India has been on a weak and pathetic administrative/bureaucratic system since independence. There is no sweeping reforms in this key governance area. This is the main reason why a massive reform like GST remain less successful. Modi ji needs to act very fast on this. Dismantle the IAS...instead hire domain experts, make the administrative system strictly accountable, link their pay and benefits with their performance. I am sure the country will progress then.
ST
Growth is projected at 6.1% in 2019-20, IMF said, while adding that risks are to the downside. IMF’s chief economist Gita Gopinath had last week said that India’s growth forecast is likely to revised down “significantly” in the upcoming January review.
The IMF is mandated to oversee the international monetary and financial system and monitor the economic and financial policies of its member countries. Therefore, the IMF typically analyses the appropriateness of each member country's economic and financial policies for achieving orderly economic growth, and assesses the consequences of these policies for other countries and for theglobal economy. Ms. Gita Gopinath, a PhD in Economics from Princeton University, was appointed as Chief Economist of IMF on 1 October 2018. Undoubtedly, she would play a significant part in the analyses of a member country's financial health.
“紧急”行动？尼尔玛拉·西塔拉曼夫人已经把一切都弄清楚了。事实上，她对印度的经济增长非常有信心，洋葱价格超过每公斤100卢比也没有让她不安。
JoKeR：不可能。Nirmala Sitaraman女士一直是个“候补”。这就是她作为国防部长的职责。由于他们在一系列问题上意见不一，总理不会考虑让哈佛大学经济学博士萨勃拉曼尼亚·斯瓦米担任财政部长。
印度经济增速在7 - 9月跌至4.5%的6年低点，许多专家预计2020财年的增速将低于5%。
Sagacious JoKeR
Indian Citizen
Krishan Kumar Totlani
@Renjith现在大家都知道我们有最无能的总理，他总是谈论别人的痛苦和想法，而他自己对国家治理一无所知。他把关键职位给了和他一样坏的亲信。所以指望他来解决问题几乎是不可能的。他会继续指责每个人，继续享受这个职位带来的好处。
2.5 billion USD in 6 days by Amazon and Flipkart is a guestimate. If the economy is booming, how come people are being laid off??
《印度经济时报》网站读者评论：
Because they don't see eye to eye on a whole host of issues, the PM won't consider Dr. Subramanian Swamy, a PhD in Economics from Harvard University as Finance minister. Dr. Swamy is also a strident critic of govt. policies.
托特拉尼:“90%的国家面临经济放缓。”好吧，但是他们的领导人没有说类似“莫迪万岁”的话(莫迪上台后，一切皆有可能)。
Renjith(喀拉拉邦)：总理选举前的口号是：莫迪，一切皆有可能。而现在，你却在为他表现不佳找借口。
报告提出了两种情况，第二种情况是推动围绕三大支柱进行重大改革，以提振增长。报告称，首先，正在进行的银行资产负债表清理工作，应辅以果断加强国有银行（PSB）治理和监管，并加强对非银机构（NBFC）的监督。其次，中期财政整固路径应以财政责任和预算管理审查委员会建议为基础，该委员会建议将政府债务削减至GDP的60%。第三，公布劳动力、土地和生产率改革。另一种情况是，在商品和服务税等改革措施的推动下，阿尼班博拉的经济在中期内可能增长7.3%。它支持继续实施货币宽松政策，但警告不要通过财政刺激来提振增长。
IMF says India in midst of significant economic slowdown, calls for urgent policy actions
Sagacious JoKeR
Renjith:“为什么像消费税这样的大规模改革仍然不那么成功的主要原因。这句话让我想起了那句格言：拙匠只会怪罪工具差。
6天内在亚马逊和Flipkart花费的25亿美元只是猜测。如果经济蓬勃发展，为什么会有人下岗呢?
Credible medium-term fiscal consolidation path driven by subsidy-spending rationalisation and tax base-enhancing measures are needed to reduce debt, free up financial resources for private investment, and reduce the interest bill, the IMF said. It cautioned that the go nment has limited space to boost spending to support growth, especially given high debt levels and interest payments.
What 'urgent' action?? The FM Mrs. Nirmala Sitaraman has it all figured out. As a matter of fact she's so confident about the nation's economic growth, that onion price at over Rs. 100 a kilo didn't ruffle her.
Bawarchi
不敢相信国际货币基金组织仍然预测印度今年的经济增长率能达到6%，已经没有人敢预测超过4.6%了。这个Gita似乎是一个超级白痴。
Raman
The IMF in October slashed its forecast for 2019 by nearly a full point to 6.1%, while cutting the outlook for 2020 to 7.0%.
What gives Mr.Ranjth the idea that his idol has ideas ? The way the things have gone wrong show that nobody in the power has an iota of useful odeas.
ST
No point in arguments. If GOI doesnt focus on economy and sort out problems, both go nment and citizens have to suffer. No point in blaming IMF. They just did their job.
@Renjith, By now all know that we have the most incompetent PM, who keeps talking about others pains and ideas and himself has no clue on administration. He has given key positions to his favorites, who are as bad as him. So expecting him to fix something is next to impossible. He will keep blaming everyone and keep enjoying the perks of the position.
useful article
Sagacious JoKeR
很有用的文章。
译文来源：三泰虎 译者：Joyceliu
Renjith: “the main reason why a massive reform like GST remain less successful.” This statement reminded me of the adage: a BAD CARPENTER blames his tools.
由于他们在一系列问题上意见不一，总理不会考虑让哈佛大学经济学博士萨勃拉曼尼亚·斯瓦米担任财政部长。斯瓦米博士也是政府政策的尖锐批评者。
Bawarchi: The 48 year old Ms. Gita Gopinath, a PhD in Economics from Princeton University, is the John Zwaanstra Professor of International Studies and Economics at Harvard University – arguably the world's #1 university. Would Harvard University be associated in anyway with a “SUPER ID10T”??
国际货币基金组织表示，印度正处于严重的经济放缓中，需要采取紧急措施来扭转经济放缓趋势，同时继续实施可靠的财政整顿。
外文链接：https://economictimes.indiatimes.com/news/economy/policy/imf-calls-for-urgent-action-by-india-amid-slowdown/articleshow/72948133.cms
Indian Citizen
印度已经有较高的政府赤字和政府债务。国际货币基金组织亚太地区印度事务负责人拉尼尔•萨尔加多认为，将于明年1月发布的印度新增长预测，将显著低于此前的预测。他补充称，IMF对印度经济放缓感到意外。
ST, Mumbai
国际货币基金组织说，印度经济显著放缓，需采取紧急政策
他说：“印度目前正处于严重的经济衰退之中。应对当前的经济衰退，使印度重新走上高速增长的道路，需要采取紧急的政策。”