Modi, 15 Years, $18 Trillion Indian GDP

Nehru (Photo credit: Wikipedia)

If India's GDP stands at $6.3 trillion today, and any growth rate below 10% is a failing grade from me to Modi, and assuming he is Prime Minister for 15 years, at a 10% growth rate the GDP would double every seven years, which means the Indian GDP should stand at $18 trillion by the time Modi is done. Anything less and I will label him a failure.

At 18 trillion India will still be number three. China and the US will not stay stagnant.

If he is Prime Minister for 15 years, he will be to the BJP what Jawaharlal Nehru is to the Congress' imagination.

I think one challenge for Modi is to rope in Nitish Kumar. It is tricky political challenge. But now the onus is on Modi since he is the winner.

UPA-II wasted Laloo by not retaining him at the head of Railways. The Modi Sarkar might go on to waste Nitish if Nitish does not make a comeback as Chief Minister of Bihar.

Modi in Delhi and Nitish in Patna would be the best possible combo. Both could do 15 more years. What is Modi's weakness is Nitish' strength, and it is to do with the human development index part of development. Modi is good for business, but the Gujrat story tells us human development has not been his forte.

Sushil Modi could not what Nitish has done in Bihar. Maybe Narendra Modi should take the lead, and Sushil Modi and Nitish Kumar should meet and talk, and find a way to revive the alliance. That would mean double digit growth rates for India, high double digit growth rates for Bihar, and of course a Special Category Status for Bihar and Orissa.

Related articles

• Lalu, Nitish can't stop Modi, they will become history: Sushil Modi
• 'Nitish Kumar quit as did not want to work with PM Narendra Modi'
• Nitish Kumar has betrayed Bihar by taking RJD's support: Sushil Kumar Modi
• India plans for Narendra Modi-Barrack Obama meeting in Washington!
• India plans for Narendra Modi-Barrack Obama meeting in Washington!
• Nitish Kumar congratulates Narendra Modi
• Nitish Kumar has turned philosophical as he faces defeat: Sushil Kumar Modi
• Nawaz Sharif sends 'sari' for Narendra Modi's mother
• Nitish resigned as Bihar CM to prevent split in party, say JDU sources
• Sell the Fact on India's Charismatic New Prime Minister

Cliff Notes

CBO: Letting upper-income tax cuts expire would barely hurt economy

Letting the high-income Bush tax cuts lapse, for example, generates $42 billion in 2013 but hardly hurts GDP at all. By contrast, the defense cuts amount to $24 billion but hurts growth by 0.4 percent

What's in the fiscal cliff?

$7 trillion worth of tax increases and spending cuts over a decade. ..... While that might seem like a deficit hawk's dream come true, it's anything but. ..... "It's too big, too quick, and focuses on the wrong parts of the budget" ..... reductions in both defense and non-defense spending; the expiration of the Bush tax cuts; the end of a payroll tax holiday and extended unemployment benefits; and the onset of reimbursement cuts to Medicare doctors. ...... If left in place, the fiscal cliff would lead to the biggest single-year drop in the annual deficit as a percent of the economy since 1969. ...... But because it would be so abrupt and arbitrary, it also could throw the United States back into a recession next year, when more than $500 billion will be taken out of the economy. ...... automatic spending cuts to commence on Jan. 2 that will amount to $1.2 trillion in deficit reduction over 10 years. ..... $55 billion will be cut in 2013 from projected levels of discretionary defense spending. That translates into at least a 10% cut to every program, project and activity that's not explicitly exempt. ...... $55 billion will be cut from projected levels of nondefense spending, which includes things like education, food inspections and air travel safety. Budget experts estimate the cuts will result in at least an 8% cut to programs, projects and activities .... Income tax rates: Rise to 15%, 28%, 31%, 36% and 39.6%, up from 10%, 15%, 25%, 28%, 33% and 35%.

Here's What's Probably Going To Happen With The Fiscal Cliff

an agreement will be reached AFTER January 1st - so that the Bush tax cuts can expire and certain politicians can claim they didn't vote to raise taxes (silly, but that is politics). ...... the tax cuts for low to middle income families will be reenacted ...... tax rates on high income earners will increase a few percentage points to the Clinton era levels ..... Not only is there no 'bang' event on January 1, but letting the tax rates jump is a way for politicians to then vote to lower them, which is easier

CBO warns of fiscal cliff risk

The biggest threat posed by the $7 trillion fiscal cliff is that it could throw the U.S. economy into recession next year. ..... Congress may choose to avert the cliff in whole or in part ..... The fiscal cliff as a whole, if it went into effect for all of next year, could result in a drop of 0.5% in real gross domestic product, according to the CBO. And that contraction could push unemployment to 9.1% by the end of 2013

My Reason To Drive Off The Roof
Bad Advice From Paul Krugman

Related articles

• The U.S. Fiscal Cliff: Just What The Hell IS IT??
• CBO: Letting upper-income tax cuts expire would barely hurt economy
• Fiscal cliff combines tax hikes, spending cuts - Stockton Record
• CBO Warns Again: Ignoring Fiscal Cliff Could Result In Recession
• CBO: "Fiscal cliff" would spark recession
• What the Fiscal Cliff Means for Jobs, in 1 Chart
• CBO warns of fiscal cliff risk
• New CBO report on "Fiscal Cliff"
• CBO lays out 'fiscal cliff' costs
• CBO report: 'Fiscal cliff' would spark recession