The Gujarat Model – Some Facts
The famous ‘Gujarat Model’ development has been a topic for debate ever since the term was coined in the second half of last decade. While economist Jagdish Bhagwati strongly endorsed the model, Nobel laureate Amartya Sen strongly criticised it and pointed out its basic flaws and has strongly articulated a model which pushes inclusive growth. 
 
Historically, as a state, which was more into trade and commerce because of its geography and arid climate, Gujarat had better growth rate compared to other states, except for a brief period of four years from 1998. 
 
Towards the end of this period, Mr Modi took over as the CM of the state and within two years came the first Vibrant Gujarat Summit. 
 
As per the latest reports, in all the eight editions put together, the Gujarat government has declared that it has signed 51,378 memorandums of understanding (MOU) since the first summit in 2003, worth a whopping Rs84 lakh crore. The government in initial years used to publish the data, but of late no such efforts are made and mere statements are given. 
 
It will be apt to remember, the GDP of India currently stands at nearly Rs170 lakh crore. The...
Like this story? Get our top stories by email.
COMMENTS

Aditya Reddy Malipeddi

1 year ago

Regarding literacy rate, the http://niti.gov.in/content/literacy-rate-7years site is provided where the literacy rate of the India in 2011 is mentioned as 64.84 where as in 2001 it is 74.04 (which is quite suspicious i.e literacy rate falling) .
Actually it is the other way around. Please check
1. http://censusindia.gov.in/Census_Data_2001/India_at_glance/literates1.aspx
2. http://censusindia.gov.in/2011-prov-results/data_files/mp/07Literacy.pdf
This essentially invalidates your argument that literacy rate fell in Gujarat during Modi's rule




AS FINANCIALS

1 year ago

These people are the same who joined hand with Sanjay Nirupam who questioned the 'Surgical Strikes' and they say they are honest and biased may their GODs help them and their conscience.

https://www.thequint.com/business/2017/07/05/sucheta-dalal-sanjay-nirupam-launch-tweet-morcha-against-high-bank-rates

REPLY

MDT

In Reply to AS FINANCIALS 1 year ago

Since you had written your comment in English, we assume you can read this as well... https://www.change.org/p/governor-rbi-fi... This shows the movement of common bank customers was supported by even Union Minister Shri Piyush Goyal and MP Shri Kirity Somaiya.

AS FINANCIALS

In Reply to MDT 1 year ago

Ohhhhh so smart MDT, the question is that out of so many people you had that particular 'person' on your stage, shows how low you can fall?
and thanks earlier people did not know through your agenda that the petition was supported by ruling party's MP too. hahahaha

MDT

In Reply to AS FINANCIALS 1 year ago

You have right to not read or understand. The larger issue we took up for all bank customers was supported by all several political leaders, bank union leaders, consumer organisations, trader unions, many of whom were present there during the TweetMorcha. Obviously, you may not know all others, except one person. Anyway, its up to you what to derive from a topic unrelated with this article.

Parthasarathy J

In Reply to AS FINANCIALS 1 year ago

Exactly. Can Sucheta Dalal investigate the investment and revenue model of anti Indian websites SCROLL.IN, THEWIRE.IN, THEQUINT.IN, MONEYLIFE.IN etc.,

saileena sarkar

In Reply to Parthasarathy J 1 year ago

'anti indian' = anti-bjp ruled failed govt? BJP is not India...take your feku patRIOTism elsewhere.

MDT

In Reply to Parthasarathy J 1 year ago

Sorry. We cannot comment about others, like you do. However, on the website, we use Google ads that take care of cost of running it free.

Parthasarathy J

1 year ago

Simply nonsense, in the name of journalism. Suchita, can you refund the money I paid for subscription.

REPLY

Sucheta Dalal

In Reply to Parthasarathy J 1 year ago

Read the rules. If applicable write to the correct email. In any case, 90% of what you get on moneylife online is FREE> This is NOT a part of the subscription.

Parthasarathy J

In Reply to Sucheta Dalal 1 year ago

What rules should I read? It's common sense. What should I write to the correct email id? How does someone give 90% free? Where do you get the resources to provide this for free? And how did you g uarantee that 90% is free, the same statistcs Ravi Nair has used in this article?

MDT

In Reply to Parthasarathy J 1 year ago

Dear Sir,
You had subscribed for the Magazine, which is a paid publication. Kindly read this http://www.moneylife.in/cancellation-refund-policy.html
Thanks

Satyadev Verma

1 year ago

Few years back,in the beginning,Moneylife was unbiased.Not so any more.
Now Moneylife is siding with Ravi Nair(on Congress payroll) & Amartya Sen(a good beneficiary from Congress).I am neutral & independent thinker.
Please answer a simple question if any of you can.
In 1946,Rs 1 was equal to $2. You all know values of the equation 3 years back.
That was the progress made in 67years.
In comparison to that, how do you rate progress in last 3 years ?

REPLY

saileena sarkar

In Reply to Satyadev Verma 1 year ago

everybody not on Modi sarkar payroll is on Congress payroll? vah. 100% employment in India according to you...Lol.if Congress had spent (Adani-Ambani)money on PR,Advertisements & lavish events to scream slogans like BJP, they would not have been in such a state today.

Abhijit Gosavi

In Reply to Satyadev Verma 1 year ago

I think it's very unbiased and provides information that you won't find elsewhere. On this particular article, though, I disagree with the author. But isn't that why we have open discussions? I'm really sorry if my comment caused any issues here, Sucheta. That certainly wasn't my intention. In a free world, people should be able to discuss issues without threats.

By the way, Mr. Verma, do also read the three-part series: http://www.moneylife.in/article/business-schools-learning-a-business-lesson-part-1/50991.html This is the sort of material you won't find elsewhere.

Chanchal

In Reply to Satyadev Verma 1 year ago

Peace Satyadev ! Kindly try to digest the fact even if it comes from opposition.Remember Ram asked Lakhsman to get wisdom from Ravan.

Satyadev Verma

In Reply to Chanchal 1 year ago

I m at perfect peace.I have put up a question.
Let Moneylife/Ravi Nair/Amartya Sen answer.
Moneylife is no more an unbiased organisation.
It seems to b a paid agency.

Sucheta Dalal

In Reply to Satyadev Verma 1 year ago

Paid by whom Satyadev? Because we want our readers heads not to be blocked and coloured by one-sided views?

Rahul Pande

1 year ago

Courageous Ravi.Wonder whether social media and whatsapp have lynch mobs have started their tirade or not.

Abhijit Gosavi

1 year ago

Kerala gets money from the Middle East, while Goa generates money from tourism. In both cases, the weak Indian currency helps. So I'm not sure that's an apples-to-apples comparison.

As far as ease of doing business goes, Gujarat is even ahead of Maha (have firsthand info. of this from real human beings working in industry), which generates the most tax revenues for the central govt.

And one more thing: you should compare Gujarat to Bengal to study how two diametrically opposed economic philosophies deliver. I recently visited Bengal (three times in two years). Most industries have disappeared from there; no new jobs are being created, and many are fleeing to states like Maha! The Hazra Road, a long and prominent road of South Kolkata, has become a garbage dump from one end to the other. There are hardly any footpaths on it, and those that exist are full of excreta of humans and animals. The amount of filth everywhere in Kolkata is mind-boggling; plus, it has increased exponentially. The fresh food markets (I visited Lansdowne Market and Jadu Bazar) stink even more than they used to. The Gariahat area looks like war-ravaged territory. These award-winning profs from the West (one of whom you cite) come up with fantastic theories, but never try to test the ground realities of even the places they frequently visit? How sad is that?

REPLY

Swapan Roy

In Reply to Abhijit Gosavi 1 year ago

The writer is explaining about the ground reality of gujrat model,not of your visit to kolkata and your experience of city areas.

Vivek Naik

In Reply to Swapan Roy 1 year ago

:D

Abhijit Gosavi

In Reply to Swapan Roy 1 year ago

It appears that this author has no understanding of ground realities, otherwise, he would not have written what he's written. I remember a communist Finance minister from Bengal claiming on the basis of data that the economic and health parameters of the USA were worse than those of Cuba, yes Cuba :)

Swapan Roy

In Reply to Abhijit Gosavi 1 year ago

The matter is not related here.,if u have counter view u r free to do so.

Manoj Kumar

1 year ago

Facts do not impress Modi bhakts, but Whatsapp stories do.

Somit Mukherjee

1 year ago

Money life has become a Modi baiters' paradise and has completely lost its objectivity. So sad that this site/magazine is losing its erstwhile standards . We continue to stand with Gujarat and with Modi !!

REPLY

Kunal Singh

In Reply to Somit Mukherjee 1 year ago

Truth Prevails! Facts must be hurtful.

RAVI RAM PV

1 year ago

This stale topic has been flogged for years by Modi-baiters like Rajdeep Sardesai et al. That this person has serious issues with Modi is obvious. That I can understand, as one is entitled to one's own opinions. But, is MoneyLife becoming a platform for airing grievances against Modi?
I cast a cursory glance at this article, one thing that the author claims reg giving away land to power companies at "[sic]unheard of prices". He obviously has zero idea of where the plants have come up and the value of those lands prior to the power projects.

Request to Moneylife Digital Team:
I buy Moneylife, not politically loaded bullshit. Stick to your core philosophy. These grossly biased political views are a waste of bytes/space. Pl. stop publishing crap.

REPLY

Vijay raman

In Reply to RAVI RAM PV 1 year ago

Please point of where do you have a doubt about the facts provided. In fact it is you who is showing your bias by not pointing out a single fact of your own or a single fact you contest with counter evidence.

The article is giving links to government sites. Where is the problem with that. An eye opener article.

Bhuvaneswaran K

1 year ago

hmm... but I cannot choose Pappu.. ;) So, will have to vote Modi again ;)

REPLY

Gupta

In Reply to Bhuvaneswaran K 1 year ago

The best reply... completely agree! :-)

Anand Vaidya

1 year ago

See Ravi Nair's profile & tweets. You can connect with this article easily. I mean his biases

REPLY

Vivek Naik

In Reply to Anand Vaidya 1 year ago

just check your own profile as well

Jivan Khot

1 year ago

Seems like one sided assessment looking at just the -ve aspects. There is no mention of any single achievement. To win so popularly on the basis of Gujarat model without having any substance, he should magician :-) Overall assessment would have been better rather than just what did not happen.

REPLY

Ravindra Shetye

In Reply to Jivan Khot 1 year ago

Where is the other side? The one presented by the Govt of Gujarat? In fact that is what has been exposed in this article.

Krishnaraj

1 year ago

Not to mention bankrupting GSPC with Dr Hasmukh Adhia and Dr Urjit Patel as Independent Directors, raking up Rs 23,000 crores in loans; a promise of 4 - 8 lakh crore of gas, not even 0.01 basis point of that came about. On verge of default but merged with ONGC.

Glad that Moneylife finally is bold enough to speak out

SuchindranathAiyerS

1 year ago

Exaggeration is a sure death knell to credibility. I learned young in trying to impress demanding teachers and family elders.

RBI might take up NPAs worth Rs 8 lakh crore for resolution by 2019: Assocham
New Delhi, Industry body Assocham on Sunday said the Banking Regulation (Amendment) Ordinance has empowered the Reserve Bank of India (RBI) to take up "bad loans worth about Rs 8 lakh crore" for resolution by March 2019.
 
According to an Assocham study, the move has the potential to bring down the non-performing asset (NPA) levels and "significantly improve" the financial health of banks.
 
"Somewhat bitter medicine came in the form of the Ordinance promulgated by the President in May," Assocham's Secretary General D.S. Rawat said.
 
"The government gave wide-ranging legislative powers to the RBI to issue directions to lenders to initiate insolvency proceedings for the recovery of bad loans that have reached unacceptably high levels."
 
In case of a default, the recent Ordinance has authorises RBI to direct lenders for initiating insolvency resolution process under the provisions of the Insolvency and Bankruptcy Code (IBC), 2016.
 
Further, the law empowers the RBI to set up sector related oversight panels that "will shield bankers" from any action which might be initiated by probe agencies on a later date.
 
In the past,...

User

States’ finances deteriorating, says SBI report
Out of the major 17 non-special category states in India, there were only eight states that satisfied the necessary conditions (NC) and at least one of the sufficient conditions (SC), to become eligible for additional borrowing in FY17-18. However, even these states may find it difficult to mobilise resources due to deteriorating finances, says a research report.
 
In the note, State Bank of India (SBI) says, "...the worrying thing is that even states that are eligible for additional borrowing in current fiscal have recently witnessed deterioration in fiscal deficit. This indicates there is pressure on even the well-off states for mobilising resources. Hopefully, the introduction of goods and services tax (GST) could provide a fiscal buoyancy to states."
 
 
"States who have recently waived farm loan will find it difficult to raise funds without market borrowing in financing additional burden”, the report says, adding, "In this context, we estimate that while Karnataka have the luxury of mobilizing the entire debt waiver amount through market borrowings or non-tax revenue, Maharashtra is also well placed as it can even mobilise Rs11,000 crore...
Like this story? Get our top stories by email.

User

COMMENTS

SuchindranathAiyerS

1 year ago

This despite cheating us in every possible way. From inlfated electiricty bills, making us pay for garbage and sewage and then employ private contractors to do work that we paid Government for, having to pay hospitals and schools for poor quality substitutes for services that were free and superb until 1947 and so on. This, and inflation is due to Government profligacy , reservations and extortion-corruption.Sack 75% of Government pay roll and make the rest walk to and from their offices and work for a living. Lynch them if they do not.

As for State Bank, their finances are no better, and all the unconscionable charges that they are hitting innocent citizens with to feed themselves and the their Neta-Babu overlords will vanish like the States' taxes. In smoke.

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

online financial advisory
Pathbreakers
Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
online financia advisory
The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Online Magazine
Fiercely independent and pro-consumer information on personal finance
financial magazines online
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
financial magazines in india
MAS: Complete Online Financial Advisory
(Includes Moneylife Online Magazine)