WASHINGTON: Crouching Tiger snuck past the Fiery Dragon?
The intense debate about whether lumbering India can overtake China’s red hot economy has been fed more fuel with The Economist suggesting that it may already have happened in 2010 “without anyone as much as noticing”.
On the face of it, China grew by 10.3% last year, comfortably outpacing India’s estimate of 8.6%. But the IMF’s latest World Economic Outlook released earlier this week says that India grew by 10.4% in 2010. How can that be? Here’s how the acclaimed journal crunches the numbers to arrive at the same conclusion. India typically reports its GDP “at factor cost”, meaning it adds up all the income earned in the course of producing the country’s goods and services. Other countries, including China, typically report their GDP “by expenditure”, i.e. by adding up all the spending (including taxes) on domestically produced goodies.
So, says The Economist in a blog post, you have to factor in a couple of things into the Indian GDP: taxes and subsidies. A sales tax adds to the amount you have to spend on a good. A subsidy has the opposite effect. If these taxes and subsidies remained steady as a percentage of output, they would not affect the growth rate of GDP, even if they do affect its level.
In India, net indirect taxes rose from 7.5% of output in 2009 to 9.2% in 2010, boosting the growth rate of GDP by expenditure for that year. So if New Delhi adopts the same metric as other countries to measure its GDP, i.e., by expenditure, it lifts India’s growth to 10.36% in 2010. “That’s fully 0.06 percentage points faster than China. Jai Hind!” says The Economist.
Not everyone buys into the conclusion. “Brilliant. So all India has to do is increase indirect taxes every year by 1000% and her GDP will go to the moon,” one reader wrote in snarkily. Another maintained that exchange rate is a more important factor than taxes, pointing out that the IMF estimates growth rates by converting the GDP of countries in local currencies to dollar at market exchange. While India’s currency appreciated 6.4% in 2010, from Rs 48.85 per dollar in 2009 to Rs 45.93 in 2010, China’s Renminbi appreciated only 0.9%, from 6.84 per dollar in 2009 to 6.77 in 2010. So India’s GDP got a push that was higher than China’s.
The Economist itself had a tongue-in-cheek take on the whole India versus China growth issue, saying that given the fervid debates “it would be ironic if the moment (of India overtaking China) had already come and gone, without any fuss, fanfare or felicitation”.
No other country celebrates its fairs and festivals the way India does. Colourful, lively and full of verve; Indian festivals are a celebration of life. Celebrate travel with these 10 most amazing festivals.
In today’s economy, businesses need quality insights driven by accurate data more than ever. Yet many IT organizations struggle to provide easy-to-access data stores with the right analytic capabilities, not to mention integrated systems with all the metrics different business users need.
SiliconIndia is organizing Business Intelligence Conference on Feb 12th, 2011 (Saturday) in Chennai. At the Conference, you will learn about the challenges, solutions and future of BI from top industry experts and leading-edge peers.
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Emerging Trends and Technologies in the Business Intelligence Market
BI Design and Implementation Challenges
Solution Centricity. The Pivot for Successful BI / DW Implementations
Integrating Search and Business Intelligence
SharePoint 2010 Insights: BI for Everyone
Building Interactive Dashboards
Microsoft Business Intelligence : Vision & Strategy
Advanced Analytics: The Next Wave in Business Intelligence
Analyzing Data with Advanced Visualizations
Best Practices for Data Warehousing
Confirmed Speaker’s :
Raman Govindarajan,CEO, perfSYSTEMS
Vadiraj Muthya,Practice Head-Global- Retail BI , Wipro Technologies
George Philip,Practice Head, Wipro Technologies
Venkatesh Babu,President and CEO, Tiara Consulting Services
DATE: Feb 12th, 2011 (Saturday) TIME: 8.15 AM to 5:30 PM VENUE: Hotel Park View,Freedom Hall,JPRI Towers,125,Valluvarkottam High Road,Nungambakkam,Chennai – 600034
REGISTER NOW:
We have limited Seats. Registration for this Conference is by invitation only. Attendance is limited to maintain an intimate setting and foster dialogue among all participants.
There are LIMITED SEATS. While it is Invite-only, there is a nominal cost of Rs 500 to attend the full day conference. This is just to cover our cost. This will include attending panel discussions, lunch & Refreshments. To block your seat send us your Full Name, Designation, Company, Contact Number by responding to this mail. We will send you the payment details to pay following your response.
The 5th NASSCOM Diversity and Inclusion Summit is the only industry platform in India for Diversity and Inclusion.
500 leaders from the industry, entertainment, and public life will meet to share successful strategies for gender, cultural, generational diversity and inclusion of people with disability and how they contribute to the success of organizations.
The exciting sessions and speakers will help you find answers and help develop strategies for you and your organization.
Who can attend:
CEOs, CXOs, CFOs, Vice Presidents
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For more information on Events happening in Bangalore, please contact Call Ezee : 255 55 555, 266 66 666, 633 33 333
The people in Chennai acclaimed the US President Barack Obama for endorsing India’s long time claim for a permanent seat in UN security council.
US President Barack Obama’s announcement of support for India’s permanent membership in the UN Security Council (UNSC) is seen by large sections of the US media as an attempt to counter China.
The influential New York Times said that by endorsing India for a permanent seat Obama had “signalled the United States’ intention to create a deeper partnership of the world’s two largest democracies that would expand commercial ties and check the influence of an increasingly assertive China”.
His statement on bringing to book 26/11 perpetrators should put to rest the cribbing that many Indian had about his view on Pakistan.
Media’s Viewpoint
‘Reforming UNSC complicated after US backs India’
Is Obama backing India’s UNSC bid merely symbolic?
‘Pak may seek China’s help to stop India from becoming a permanent UNSC member’
‘India should not expect UNSC membership soon’
Obama backs UNSC seat for India to counter China?
China says understands India’s UNSC desire
‘Prez Obama made a dramatic gesture for India’
Obama kept support for India’s UNSC bid secret
Obama backs UNSC seat for India to take on China?
Pak group opposes US endorsement of India on UNSC
Take this opportunity to post your viewpoints in this forum
The festival is actually celebrated over a period of five days. The first day is called the Dhan Teras, wherein people buy some new piece of jewelry or a silver utensil because as it is considered auspicious to spend money (for goddess Lakshmi) on this day. The second day is Narak Chaturdashi, when Lord Krishna killed the demon Narkasur and freed the world of fear. The third day is the actual Diwali, when people pray for prosperity and happiness all year round to Goddess Lakshmi, the goddess of wealth. The fourth day is for Govardhan Pooja and the last is Bhai Dooj, a day dedicated to sisters by their brothers.
The 39 steps will be held at Sir Mutha Venkatasubba Rao Concert Hall on 29, 30, 31st October 2010 in Chennai. It has a grand partnership of Radaan Media Works, evam is proud to present its latest production The 39 Steps. This production of the play has been an international blockbuster, a successful run of over seven years at Broadway and West End. This year this production is going to hit the theatres of India and first in Chennai.
The main interesting thing in the play is 4 characters play 150 roles in one and a half hours, in absolute master piece of visual humor and comic timing. The script is full of allusions to Hitchcock films, including rear window and psycho.
Evam is the award winning theatre entrepreneurship in the business of live entertainment shows, workshops and cultural festivals. Evam done over 25 plays and four hundred shows in the last seven years won the YPAE (Young Performing Art Entrepreneur) award for India from the British Council last year and represented India at the YPAE ceremony in England.
Venue:
Sir Mutha Venkatasubba Rao Concert Hall
Chennai Date: 29, 30, 31st October 2010
Ranga Shankara Theatre festival will take place from 22nd October 2010 to 1st November 2010 at Bangalore. Ranga Shankara is a world-class theatre facility in Bangalore, India. The most affordable theatre space in India today, Ranga Shankara is dedicated to showcasing theatrical performances from India and abroad, to producing and commissioning new and innovative theatre forms and productions, and facilitating outreach programmes to build audiences for theatre and to impart theatre skills. Arundhati Nag is a Creative Director of “Ranga Shankara”.
Arundhati Nag, the Creative Director of Ranga Shankara unveiled the Ranga Shankara Theatre Festival ’10 today. A total of 17 forms from across India will be showcased during the festival. Several rare and precious forms at this festival have not been seen before in Bangalore. The plays are in eight different languages and many have English sub-titles.
Aircel is the principal sponsor of RS Fest ’10. The festival is also supported by the Ministry of Culture, Sangeet Natak Academy (Sattriya and Kutiyattam centres), Kalakshetra, Chennai and the Janapada Academy.
Tickets will be on sale from Oct 12 at Ranga Shankara, www.indianstage.in, www.bookmyshow.com , and Daily Breads outlets in Indiranagar and Koramangala.
No other country celebrates its fairs and festivals the way India does. Colourful, lively and full of verve; Indian festivals are a celebration of life. Celebrate travel with these 10 most amazing festivals.
