Comments by "Raju" (@rajx7120) on "Think School"
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Yes, that 10 lakh crore of rice has zero value. Because you are producing in excess. Grow less rice, then price will increase. And grow more pulses, that we are having to import.
In fact, Punjab should not grow rice at all. Eastern UP, Bihar and Bengal are right place. They have abundant water. No water pumps required. But irrigation canals are lacking there. So, we should invest in irrigation canals in Eastern UP, Bihar and Bengal, and increase the yields of rice there.
Punjab should grow pulses, millets and oilseeds.
And leave some land for industries also, so that non-farm.hobs can be created. Reducing electricity subsidy by not growing rice, will give cheaper electricity to industry and enable them to create jobs.
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@cyrusthegreat3081 While Manmohan is to blame, you must understand exactly how it happened. It was actually some stupidity.
In 2012-13 period, when US Fed was raised interest rates, US dollar started strengthening. At this time, RBI started selling forex dollars in the hope that Rupee will strengthen. But speculators bought the dollars, and caused further depletion of the rupee. It's called the Taper Tantrum.
If they had not done anything, and just allowed rupee to naturally depreciate, then the amount of depreciation would have been less.
It was again free market dynamics , affecting the currency, but an attempt to go against it, caused damage.
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@yeh_desh_hai_humara You are giving wrong info. LIC was NOT sold. A percentage stake was sold. To public as IPO. It is still owned by govt only.
Loan write-off is not the same as loan waiver. For 10 years, you people are spreading this lie. The loans are still active, and have to be repaid. Many recovery done under IBC.
And in write-off, money is given to vanks, and new loans given in clean way.
But you never questioned UPA, who actually gave loans to their cronies, and didn't bother to recover. The loans were given in 2006-2008 period and hidden by evergreening for 6 years, until Raghuram Rajan became RBI put banks on prompt corrective action, and forced recovery.
In 6 years, companies siphoned off the money, and you don't question that.
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