Bangladesh goes to IMF. How deep is its crisis, comparison with Sri Lanka, Pakistan & India
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- Опубліковано 31 лип 2022
- #bangladesheconomy #pakistaneconomy #srilanka
Amid the Sri Lankan economic crisis, the Finance Minister of Bangladesh has written to the IMF seeking $4.5 billion. In episode 1047 of #CutTheClutter, ThePrint Editor-in-Chief Shekhar Gupta explains what is happening in Bangladesh, how different is the crisis in Bangladesh as compared to Sri Lanka & Pakistan, can India go the Sri Lanka way and why do nations go to the IMF.
Brought to you by @KiaInd
Correction- At 25:50, Between 1974 to 2022, last 48 years, Bangladesh has applied for IMF bailout 10 times. Which means one bailout per 5 years. Error is regretted.
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Read ‘CPD: This economic crisis could go on for years’ here: www.thedailystar.net/business...
Read Govt formally seeks $4.5b from IMF here: www.thedailystar.net/business...
Read ‘Record $10b foreign aid used last fiscal year: www.thedailystar.net/business...
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Just the last month (July 2022) Bangladesh, earned USD 2 billion in remittances. Slight devalue of Taka means, our workers from abroad will now send more money. This is because they will get more Taka out of their foreign currency. So our economy is bouncing back again at a fastest pace, and it will continue. This loan we seek from IMF is to continue our growth, its not a bailout for survival unlike Sri Lanka or Pakistan.
But remittances are our 2nd sources of income. As of to date our garments export worldwide is our 1st source of income. The reason I have given the remittances example, is because just alone from remittances Bangladesh earned USD 2 billions in one month. As a Bangladeshi, I know big positive in any situation for Bangladesh; is the strong mental strength of my countryman. No south Asian nation fought a bloody Independence war and grown from the ashes. Some of the cyclones Bangladeshis have seen perhaps the worst one's in the record book of the world. But time and again we know how to bounce back. Amar shonar bangla ami tomai onek beshi valobashi. Joy Bangla.
@@dungavhai3319 Bangladesh is given favoured nation by advanced countries for exports unlike Pakistan and India.
@@binocular5950 That is the credit of the friendly Bangladeshi diplomacy and foreign policy. The historic foreign policy declared by the Father of the Nation Bangabandhu Sheikh Mujibur Rahman, which is 'Friendship to all and malice towards none”, continues to provide the philosophical underpinning of Bangladesh's pro-peace foreign policy. This is why, we continue to provide more peace keepers to the UN forces, than India or Pakistan. You guys being the big brothers of the sub-continent, love fighting with each other all the time. Both India and Pakistan did not look after their poor people, instead your aim has always been to produce more and more expensive nuclear weapon to kill each other. Where as, in Bangladesh our focus was development and we considered poverty as our main enemy.
@@dungavhai3319 Bsngladesh is fottunate to have a genuinely peaceful and trustworthy like india. You dont have to pay for defence. india is not a threat.
However, bangladeshis as a people are not respected, especially in Middle East and Malaysia.
@SuPThere i am Indian and a disciple and follower of Jesus Christ. India is a genuinely peaceful and trustworthy nation. Bangladesh can sleep peacefully, knowing that.They never have to have a large percentage of their GDP sloughed off towards defence spending. They should not lose sight of that.
Bengali language is infused with Sanskrit words.
Urdu, national language of Pakistan also originated in India, UP to be
precise.
God bless Modi
God bless India
God bless Indo=Israel friendship
We must take pride from the fact that we have come a long way from ~ $2 Bn loan from IMF to ~$2 Bn line of credit to SL in just 30 years.
Great point by SG. It's a generational effort that we must build upon.
2 billion is already an old figure, now it above 4b
It's more than 3billion i think
And we have to carry on.
Jai Hind Jai Mahaveer 🇮🇳
India's loan from the IMF was based on the savings of NRIs, especially the malayalees. Manmohan Sungh bore testimony to that fact in his budget speech the following year.
In the situation while whole world economy is affected, and the economies of all our neighboring countries are collapsing. Handling a country like India in so many calamities, is beyond the competence of today's Gandhi family.
being a Pakistan I'm telling there is no such thing as democracy in Pakistan
Actually Pakistan is true democracy. That is why no PM has served his/her full 5 year term, people just change them all the time.
@@mr.uthamaputhiran9790 not people the army
@@mr.uthamaputhiran9790 not democratically it's autocratically lol
While every country has an army, in Paxtan the army has a country. Paxtan is a unique specimen.
Looks like you know nothing about Bangladesh, my friend.
Bangladesh is gone, totally gone. Trust me, the situation is much worse than it seems. Hasina Wazed is in power since 2008 without any elections, all the elections under her dictatorship were extremely rigged , in most of the elections, there were no oppositions. 1 million opposition activists are in jail, she has killed more than 10 thousand people in the last few years. She is extremely unpopular here, people hate her more than they used to hate her father. None of Hasina's family members are Bangladeshis. She is in power only because of India. It is high time India understood the pulse of the general people lest Bangladesh should also slip from India’s hand.
Nobody in India is gloating that BD is going to IMF, Mr. Gupta. We have no need to do so. It was actually you who on multiple occasions pontificated how grand BD economy is, and in contrast how humble India's economy is, taking potshots at Modi govt's economic policies. So much for your "analysis".
The Print has a very mediocre data analysis team and even more mediocre style of presenting things. It's become kind of their forte
Agree. Remember watching that episode when praises were being sung about BD economy. Now it's totally contradictory.
Spot on!
Its hard facts - bangladesh economy has done way better in last few years.
@@ayush4565 lol thats why theyre begging imf for food oil imports ?
My take - BD doesn’t really need assistance from the IMF. They want to reduce subsidies and want to direct peoples anger (in response) away from themselves and towards IMF.
Yes. Taking a loan from the IMF can also be a political move. IMF can be the bad guy quite easily because it does not need to contest any elections.
Yea.. I think so too.
It's sound funny but u naild it😄
Please do a CTC on Nancy Pellosi's visit to Taiwan and new US-China flashpoint.
Pelosi will cancel her visit. USA can't face china
She is not visiting now. Taiwan is off the plans.
Cost to company?
@@ajaymuj cut the clutter
Edit: it's a series Gupta does.
@@ajaymuj cut the clutter is the name of this show
Actually there is one more factor in Indias case. When sanctions were imposed after nuclear test, there was a pressure on the Indian Rupee. The government then did a fantastic strategy and asked the NRIs to invest on a bond with good interest rates. NRIs from around the world pumped huge money into the bond. They exceeded expectations by a wide margin. The net amount was more than 7 billion $. Think of the amount people are asking now, 3 to 5 billion. It is now recognized that India can turn to its NRIs in currency crises. As it NRIs now send about 80 billion dollars annually. The highest in the world.
Wow
Many didn't know about it including SG
What a information brother!
@@k.govardhansingh1278 talk about your self the biggest chunk come from US & 2nd is UAE and KSA
@@k.govardhansingh1278 I am sure SG knew.
India is a much more diversified economy with structural strength while Bangladesh and Sri Lanka are more levered economies that are the "King of good times" but prone to trouble during the bad times. Hence, India is able to show better resilience to the pandemic fallout, unlike its smaller neighbors. Nevertheless, I hope Bangladesh and Sri Lanka stabilize. We will not be able to insulate ourselves from a spillover if they go downhill.
Yeah. Exactly some countries developed into single product or two product economies. For Srilanka it's tourism n fisharies, for Bangladesh it's garments n Gulf remitance, for Pakistan.. I don't know my be terrorism... ¿
@@karrivenkatavanaja4641 Pakistan export it's strategic location...
Speaking of spill over effects my main concern is about refugee influx into India. India with its already huge population and unemployment issues can't afford to take in anymore.
@@sid8285 unemployment will increase, there’s no solution to make a huge difference , technology will eat all jobs , same is happening with India , many companies such as Golden Sachs etc are taking up technology to replace humans , unemployment will grow but our governments have a great plan for future, unless a revdi minded comes in power , we will be in a good position
And it's not like India's economic condition is very promising right now
The last line was the highlight from getting 2.1 billion bail out to giving 2.5 billion bail out to sri Lanka, irrespective of politics credit must be given to all indian government and people of India who has brought India to such a position that where countries of west and subcontinent countries are suffering, India is in far better position from them all
It is also important to keep in mind that, in reality, "the inflating US$ of today is also weakening fast against the US$ of recent years". There are also very important differences between inflation and rising prices. Most media spokespersons prefer to mix them together as something mysterious in order to please their "friends" in high places.
Bangladesh's rise on social indices is remarkable and no one can take that away from them but their economy isn't diverse enough to avoid deep pitfalls. 4Billion is absolute pennies as compared the size of the country. They do have the capability to deal with this better than Pakistan and Sri Lanka.
Brother our forex Reserve was 10 billon in 2010! We will bounce back inshAllah!
Another things that " we have neighbour like India so we never thought about our security expenditure! 😙
@@mohammadraselmonshi6524 Yes brother.
We are partners.
Bangladesh has displayed that peace brings prosperity
NDTV and Rajdeep Sardesai repeatedly publicised Indian economy is bad Bangladesh is growing fast and Indian government should learn from Bangladesh
Why do some people want to compare with Bangladesh and feel a sense of achievement. As an Indian, I think both countries have a long way to becoming wealthy economies. Both countries have a historical relationship and also share large border. The best way ahead is to be friends rather than be enemies.
That's true, but nowadays we see only comparison and spreading hatred between neighbors. Because this is the easiest way to manipulate common people and earn money for lazy people.
क्यु जली का
@@azharulislam4975 True.
But I see this in Bangladeshis as well.
We both are far from being a wealthy country
@@balajeepratham8200
I don't deny that. Uneducated people has cheaper Internet as well, and youtubers talk and make Videos what they like to listen and watch as well in Bangladesh..
Both countries have to go still thousands of mile as this sub-continent Region has more poverty after Sub- Sahara Region in the world.
@@azharulislam4975 Yes.
I admire bangladesh brother.
I know that your government try to maintain peace with all religions.
I am very happy to see it.
Yes some people may have hostility but I love my beautiful neighbour
Excellent data-based analysis of BDesh's economy. After some birth pangs, she has come up rather well and exemplarilly. Sharing a small personal joy of having worked as an NSS volunteer for B. Desh refugee relief camps in 197l-72 in Panchanpur, Gaya, Bihar. Thank you for sweetening the memories.
His data is wrong, India overtook bangladesh per capita according to latest IMF data. India fell behind for a year due to covid.
3:00 Congress, a dynastic party with multiple billion dollar corruption scandals and socialist economic policies saying that has so many levels of irony lol
They're literally the Rajapaksas of India.
A lot of the good economic reforms were done under Congress not Modi. Economy has only gone down under Modi. Truth is bitter I dont know what else to tell you.
@@MegaLeoben no arguing with with Modi bhakts. A thoroughly propagandized population.
@@MegaLeoben 😂 what a joke . Modi has given a change that india needed .
@@usazar oh shut up .
@@MegaLeoben like the literal last minute reforms that the actual congress leadership dragged their feet over like 1991 liberalisation?
Btw, how has the economy "gone under" other than in your fantasies?
Inflation is still lower than most developed countries and growth is faster. The one thing I can see is employment which seems to be on the right track with the push towards manufacturing (service sector can only provide so many jobs).
Thank you for Explaining this so beautifully, I was getting a bit scared watching some talk-shows where they said countries only go to IMF for money when things hit really rock bottom.
Love from Bangladesh.
Comparing India with Bangladesh, Pakistan and Sri Lanka is just ridiculous. India's economy is of completely different size and diversity of Indian economy is incomparable. Both of these factors gives Indian economy stability which is not comparable to these economies.
Thanks to great economists who created comparable abstract figures.
Bangladesh's forex reserves has been stabilized by tightening import policy
Last month Bangladesh imported 6.6 billion dollar downfall 31% is good terms for Bangladesh's economic crisis
Exported highest ever in history 4.9 billion dollar goods and received 2.2 billion dollar
It seems Bangladesh's economy is in recovery level
But power cuts have issues with production and affecting exports
If Bangladesh gets 4.5 billion dollar loan from IMF and 3.5 billion from others than Bangladesh's reserves will be 48 billion dollar again and it will have bailout Bangladesh
Bangladesh economy will be relived and will see growths
Otherwise Bangladesh will use loan money for recover the economy it will help in budget, reserves and import
Pakistan will use loan money for military and terrorism
So comparison of Bangladesh and Pakistan isn't a good thing
I M F terms for Pakistan and Bangladesh and Sri Lanka are same. All countries should follow IMF directives uniformly which will put mass poor people in to sufferings but rich is unaffected.
Cutting your feet according to shoe size
I had commented in the previous episode when Shekhar ji praised these countries and said India doing worse, and I will repeat. Comparing India with its growing defense export and high-tech software ecosystem and exports cannot be compared to the banana republic (cotton textile republic) of Bangladesh or Tourism republic of Sri Lanka. These are basically boom-towns. Both these countries have excellent ports, and fertile lands, compared to India, with its vast hinterland and complex diversity. We have done monumentally better than these countries, but there is always room for improvement.
we have Hindus
Yaar try , atleast try to aim higher. Lanka bhutan pakistan se kab tak compete karogey
@@desigulal jab tak humlog imf nahi pahuch jate
Just the last month (July 2022) Bangladesh, earned USD 2 billion in remittances. Slight devalue of Taka means, our workers from abroad will now send more money. This is because they will get more Taka out of their foreign currency. So our economy is bouncing back again at a fastest pace, and it will continue. This loan we seek from IMF is to continue our growth, its not a bailout for survival unlike Sri Lanka or Pakistan.
Blunt and perhaps harsh language but essentially right. India is a much more diversified economy with structural strength while Bangladesh and Sri Lanka are more levered economies that are the "King of good times" but prone to trouble during the bad times.
I still remember Mr Shekhar stating in Old videos in how Bangladesh 🇧🇩 is performing exceedingly well and it will soon outperform India interms of GDP and economic growth.
It's not like any other country in the world is doing well. Everyone is going through a tough time including India. Bangladesh is just being cautious here. It is still growing fast and this IMF deal will smooth out those rough edges that's coming ahead.
@@iftyhuq4321 IMF deal come with lot of stings attached. India tolerated those hard stings. We decided never again.
@@sitarampradhan8488 which loan doesn't come without a string. Bad time comes brother we just have be patient and bare though the hard time. I don't see anybody having a good time if this war continues because winter is coming and if Russia stop the gas supply to Europe than we are in for a bigger shit. I think it's a good idea to be cautious and preparing for the worse
Did.. you not watch the video? Bangladesh is going to the IMF out of precaution and also to get the funding dedicated to countries like it who are most likely to get impacted by climate change. Why wouldn’t they use what is available to them? Bangladesh government is being smart and cautious.
Western countries have polluted like crazy for decades and now have created a fund for countries like Bangladesh who will pay the price thanks to that pollution with climate change. Bangladesh is 100% right to use those funds
@@sujayk3725 taking loans are always a last option for any be it for a household or an organization or a government.
I can either read a dozen articles on a topic in an attempt to understand it or I can watch a video of Shekhar Gupta on the same topic and get the same result. Thank you, Shekhar Gupta.
Hi Vijay,
Glad for your response!
At 25.37 onwards, you say that Bangladesh took its first loan from IMF in 1974 and the last one now is in 2022 so in "58" years, they have gone 10 times. However the gap is not 58 but 48 years (2022-1974) hence the average of 5.8 years is also wrong
Okay avg age 4.8
Nicely pointed out
Well Bangladesh in 1974 was a war ravaged poor country with people on the brink of starvation even worse than Congo because of Pakistan. To rise from that to a per capita GDP above India is no small feat and takes more visits to the IMF to accomplish
calculator is useful.
@@arkajitmaity5277 india helped in Bangladesh war. So don’t explain to Indians. In 1947 we were more deprived and 12% literacy . But in 75yrs ra we went less than Bangladesh in 50years. I live in Europe I have Bangladesh frnds here . Even they agree Bangladesh per capita more than india is over rated . Yes they had good textile industry growth . But thinking they have better living standards than india is a myth . May be they are better bottom 3-4 poor states in india which are over populated
I am proud of my country Nepal whose GDP per capita reached 1412 dollors in 2022 from 770 dollars in 2017. Double in 5 year and hope double in 5 year to 2900 dollars per capita income
Nepal could be the next one with the begging bowl in front of the IMF , if ur politicians continue to keep their eyes closed for what the Chinese are doing in ur country... stop being proud n kick the Chinese out...
@@jaideepsingh564 Chinese is helping Nepal to be number one per capita income country. China is true friend India block supplies to kill all Nepali when earthquake killed thousands. Nepali will be happy to see death of India eager to hear India is divided 😇😇😇😇😁😁😁🇨🇳🇳🇵🇨🇳🇳🇵
@@jaideepsingh564 you should 🤫🤫🤫
Plz don't listen to these goons my nepali brothers
Nepal is our best friend in the world and most important too
No country prospers for long with Chinese help.
Bravo!!
Absolutely fantastic CTC by SG and the team.
Please make an episode on Herald case or republish if there is an old episode.
From begging 2 bn dollar from IMF to give aid of 4bn dollars to other countries
From Begging wheat from usa and other countries to giving wheat to other countries and become capable that institution like IMF countries from Europe beggs for wheat from india
We also do something
Crisis in Sri Lanka and Bangladesh reaching IMF for loans shows that how trivial GDP or GDP per capita can be in many cases.
Hence, immortalizing Mark Twain famous line "there are Lies, damn lies and there are statistics "
This is also a slap to indian left wing ecosystem which was pointing out sri lanka and bangladesh overtaking india' in per capita income and celebrating.
@@vatsalsingh1555 is print changing , I mean seeing people supporting current govt and their comments not getting deleted is a surprise
GDP per capita is also important. Both are important.
@@vatsalsingh1555 who traumatized you bro?
@@MegaLeoben both are rough estimates and leaves many things in dark. The very name of GDP contains word GROSS which itself means it takes alot of assumption while formulating it.
Genuine Democracy is based on free and fair elections and the parliament or elected body is supreme (above the army). So don't tarnish genuine democracies by comparing them with make believe democracies like Pakistan, Russia et al.
We must appreciate Indian democracy ...a nation of more than a billion people who strongly feel proud to be part of a great democracy.
Free and fair? 🤣🤣🤣🤣
@@Shaggy-8392 of course though you may have to apply burnol
What's the use of that democracy brother when you have to struggle daily with red tapeism , corruption
Indian democracy is genuine?! I am confused. Please enlighten. Thanks
People always get government they deserve!
I am running the video at 1080p but the quality is really bad. I've noticed this in a lot of videos, there is something wrong with the export settings of your editing software or Shekhar's camera because the Kia EV banner is crisp and so are some of the photos like Mufti at 3:42
Where are the people who were saying बांगलादेश is doing better than India ?
Shekar you are going beyond what Bangladesh needs. Large numbers of Engineers like me are working in Japan, UK and Europe. My wife's cousin is an Electrical Engineer who created micro-computers and it's memory discs. I am myself is an Engineer and graduated from Texas A&M University. Many of us worked in one of the largest Petroleum Refinery in Texas. I also worked in Offshore Oil platforms to seek and pump crude oil from the Gulf of Mexico's sea bed. I also worked in Bombay High to extract oil.
Gadha then return to Bangladesh and contribute to its development.
@SG this episode is really in "National Interest '' with small pain, we have managed to stop our nation from reaching a point where pain would have been unbearable and ICU was the only option. You are right, the small pain of removing subsidies on fuel has enabled us to be in a better situation today comparatively. I would request Shekhar Gupta ji @ThePrint to make an episode on what would have been the situation of India, if fuel subsidy was still going on, how it would have impacted India.This will help a common man understand long lasting consequences of freebies on Nation.
To reach out to common man it has to be done in Hindi and subtitles available in 20 other languages.
Lakhs of crores spent as handouts and freebies in cow belt States along with those places getting more tax than they contribute coz they couldn't stop themselves breeding out of control like rats
I as a common agree with you that bjpee has harmed this country's growth potential and the rest of India is paying their bill
This is never going to happen.
They need balance view for all kind of audience. They don't want to tag with Modi bhakt. As now a tradition in India if you give any good score to Indian leadership you get tag with Modi Bhakt
@@haberdasherrykr8886 Take a look at opposition-run states. In AP, every scheme, program is named after "Dr YSR" and "Jagananna"- even Central schemes where Centre doles out a good portion! TN, WB, Telangana everyone has done the same.
@@hpremjit
You are right, but our media doesn't even want to debate this. It is the responsibility of the media to spread the correct information without any prejudice or political influence. Then only we will see India economically well off in coming years.
Just 1 month back all these people like this so called journalist were looking down on India & over-rating the success Bangladesh achieved by under-rating India's achievement. WHats now ?
Even Print with Mr.Shekar Gupta made a Episode on Bangladesh Economic Prosperity Comparing with Indian Economy
Yavaga? Link ideya?
No one was jubilant that Bangladesh went to the IMF as SG stated. While there is hostility to their Jamaat movement, Khaleda Zia and illegal migrants there is no ill will towards the country itself. Even people from the Hindu right like me want a stable and prospering Bangladesh that we can trade with. What we were jubilant about is the collapse of the hypocrisy of “shining Bangladesh” vs “fading India” narrative based on a bad year in the pandemic. Bangladesh is a textile economy and thats not as stable as Indias more diversified basket. That being said Bangladesh has many better HDI indicators than us like child mortality, fertility etc. and much higher female working participation rate. So there were also genuine reasons why many considered Bangladesh better managed.
lol your bjp is 100x worse than jamaat
Very well said.
@@kaz9242 rubbish. Topic is not about bjp vs jamaat. Topic is about Bangladesh economy. What Rohan said is correct.
@@kaz9242 jamaat is 1000x times worse than KKK
@@kaz9242 then bro, kick out hasina and bring jamat ... And let's see how they're better than the bjp😀
1. I hope Shekhar will spend similar time to explain in detail if Modi Govt were to approach IMF for a similar bail out like Bangla Desh! Why are we spending so much time on this issue, BTW? 2. How does it matter to us? Only yesterday, Raghuram Rajan gave a gratuitous Certificate of Merit to RBI for managing interest rates and currency! Today, our FM has outlined our strong position in the Lok Sabha.
Raghuram rajan sounds more like a politician nowadays.dont be surprised if he will join any political party in near future.
@@themeta_human praising govt makes him a politician? C’mon bruh
@@themeta_human lol he is strong congress supporter and criticize modi govt everytime
So nicely explained ❤️ Love & Respect From Bangladesh 🇧🇩
Well explained!Thanks.
Hi Shekar, I remember couple of month you had been glossing over the economy of Bangladesh and how its GDP is better than India and that it will not meet the fate of Sri Lanka and Pakistan. How this turnabout so fast??? I remember you even telling the the talk of illegal immigration from there is a thing of past.
Corruption is the answer. Even a driver of administration is a millionaire here.
Today, despite so many worldwide calamities, the economic condition of India is strong because the leadership of our country is in the hands of a talented PM like Modi ji. That's why I feel proud of my PM.
Jhandbhakt 🤣🤣
Man, there is no democracy left in Bangladesh and press has choked by the regime for ages.
Your country is doing fine socially, economically, educationally.it should be pride for you that you have extended grant to much prosperous neighbour sri lanka. Infact it has much higher per capita income in entire subcontinent. Rest i wish my good neighbour all the best.You have bright future under madam hasina. Political & economic stability in itself is a testament of success of bangldesh at present when entire world is suffering from stagnation & liquidity crisis. Do not experiment with democracy like pakistan do all the time when there is everything going in right direction in your country in such a turbulence!
Thanks!
One of the greatest episodes of CTC by shekhar gupta.... amazing to see the analysis!!
Some divergences notwithstanding, amongst the better episodes I have seen in ThePrint. Good to know Shekhar is in the "Indian subcontinent" terminology camp and not in the "South Asia" camp.
A great episode, sir! Was not a fan of the last one. But, this one was concise, well-structured and answered all the right questions without going into any unnecessary detail. Kudos!
Good info Shekar sir, I have not seen other videos going in dept/history of IMF tours by neighbouring countries.
Once again superb indepth analysis shekhar Gupta.This episode is a gem in last couple of weeks.🙏🙏
Comparing india with Srilanka , even wishing India to be Srilanka is done by Modi haters and not by normal Indians . You simply left this .
Very true
Modi hater is normal indian only who love Modi is for BJP only not for the india
A few days back the famous (so-called by Lutyens) lecture on NDTV about how vulnerable India's position is. A few months back, somebody presented that Bangladesh is growing faster than India. Happy index where Sri Lanka and Bangladesh were better than India. Congress and Rahul Gandhi were tweeting like there is no tomorrow for India.
The new format with points is just great. Only 5 mins in the video and already loving it!
A few months ago, even your channel crowed that Bangladesh GDP was better than India trying to paint India's economy in poor light.
At that time, I was thinking you guys are not comparing apples for apples (bangladesh is very small country relying on foreign exchange from a handful of sources. In comparison India is big and its foreign exchange come from many sources) and neither taking a holistic view.
Finally the penny has dropped😊🙏
Bhai in chutiyo ka kaam hamesha india ke angainst hona hota hai . Aur india ki growth dekhar ye log aane wale time par sucide kar denge
whenever someone comments in favour of print, the authors immediately acknowledge them using ❤️ sign or similar one. Now that you have caught this channel with pants down let's see how do they respond! will they accept their mistake or just keep quiet 😉
On the point ☝️
Lol u guys are funny 😆😆
Does it really matter ? Small country like Singapore is now one of the richest country in the world with basically one type of economy .
Just the last month (July 2022) Bangladesh, earned USD 2 billion in remittances. Slight devalue of Taka means, our workers from abroad will now send more money. This is because they will get more Taka out of their foreign currency. So our economy is bouncing back again at a fastest pace, and it will continue. This loan we seek from IMF is to continue our growth, its not a bailout for survival unlike Sri Lanka or Pakistan.
Hope so, if any economic strain stretches in BD it will be an alarming situation for India. Cuz India will be pulled into it.
Great info , as a neighbor we want all our neighbors to be healthy.
a country cannot depend on remittances for survival and development and to ensure fuel n food security
@@prashantchachadi6896 Maybe you are not aware, but remittances are our 2nd sources of income. As of to date our garments export worldwide is our 1st source of income. The reason I have given the remittances example, is because just alone from remittances Bangladesh earned USD 2 billions in one month. As a Bangladeshi, I know big positive in any situation for Bangladesh; is the strong mental strength of my countryman. No south Asian nation fought a bloody Independence war and grown from the ashes. Some of the cyclones Bangladeshis have seen perhaps the worst one's in the record book of the world. But time and again we know how to bounce back. Amar shonar bangla ami tomai onek beshi valobashi. Joy Bangla.
@@dungavhai3319 yes, Bangladesh deserves appreciation for rebuilding economy after brutal war during independence.
I also appreciate Bangladesh for having more women workforce even larger in percentage than india
Bangla desh ain’t any Pakistan nor Sri Lanka !!
Here in New York or back in London - My shirts are all “ made in Bangladesh “
I think the issue really is that Bangladesh does little besides making textiles and selling it. No diversification. Imagine what would happen if the Indian government launched a scheme to promote textiles and textiles exports. It's not a high skill or high value industry.
Great analysis. Thank you.
Much needed ..and appt
Someone praised Bangladesh last year making fun that Bangladesh gdp has surpassed srilanka, Pakistan and India.
India has done incredibly well considering the tough circumstances of covid, not giving subsidies on fuel and increasing their exports. And the main reason being the honesty of the policy makers who genuinely kept aside their personal interests and did everything right for the country. While pakistan is still being played by the political elite and not giving a flying f about the economic situation.
Outstanding video, SG!❤️❤️❤️❤️🙏🙏🙏🙏
Thoroughly enjoyed the comparative analysis of IMF loans amongst the Asian countries. I got lot of assurances from ur video regarding state of health of our economy. But you didn't mention anything about Nepal. Are they in a sound financial health. Using numbers help us in understanding the overall picture more clearly. Thank you for the presentation 🙏
5:08 ...Sir I know you did a CTC on the subject that Bangladesh's per capita income has surpassed India's according to IMF. However, when the final IMF figures were out, India is still ahead of Bangladesh in GDP Nominal per capita(2022 figures).
en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita
Yep. I can’t understand why people keep using outdated data. India’s GDP is 3.5 Trillion not 3. The rebound after covid has been very good. Also Bangladesh’s census count is not 100% accurate as per their own admission so per capita keeps fluctuating.
Yes, It was last year's data. Now after April this year India overtaken Bangladesh.
People still use it to make a point in criticizing the government.
Seriously guys, if Bangladeshis' income raises be happy for them and try to improve yourself. Not sure why you guys don't care if Europeans keep getting richer but if our neighbor is doing well immediately everyone is hurt.
It is sad how we are brought up from childhood to compete with everyone but only locally - its okay if Ambani and Adani are billionaires but you can't accept if your neighbor or your relatives are doing better than you.
IMF data for 2022 is projections, it's not actual data. That is why we use 2021 data. To get the data for 2022 we need to wait till mid 2023. Projections can always change.
As far as I am concerned, Bangladesh was never ahead. While looking at per capita income it is always better to use PPP data to factor in cost of living.
I agree with SG ji's every point out forward today and he should have also mentioned that if our economy is in good condition due to the service sector i.e mainly IT then it is due to the adaptibility of our people and there will to survive .Thank you
Hi Umar,
Thanks for writing in with your inputs.
I thought our closest friend was Bhutan followed by Bangladesh.
Thanks Shekharji
SG is referring to outdated information on BD economy.. The current xchange rate is TK 110 to 1 USD..
Bangladesh would never be in a situation like Sri Lanka. Sheik Hasina is doing a fantastic job at rebuilding the country after the genocide of 1971. Even today is it the fastest growing economy of south asia.
Sheikh Hasina is not rebuilding the country. Actually she is destroying the country.
Great information thank you
Today's cut the clutter was extremely interesting sir , Thanks a lot 🤩❤️
"In a free fall on double turbo engine vertically downwards".. A quote for the ages to come.. Thank You Sir SG.
" Fake old Socialism"
Pure Gold Sir 🙏🏻
Few Months back India's GDP was compared with a small country like Bangladesh ridiculously.
Not GDP, GDP/ capita. There is a difference.
Perfectly analysis ❤❤❤❤. Super informative.
As usual very nicely explained Shekar sir
Informally bd population is more than 20 crore, bd govt admit only 16 crore for last 10 years. It’s help them to show higher Per capita GDP, as dictatorial govt running BD, so there is no proper information you can get
Kudos to Late legendary Honourable Shri PV Narsiraoji.
Indians will remain indebted to him.
Nice article shekahrji
Wonderful !!! I am at loss of words to explain how happy I am to see this quality of journalism !!!
Excellent! One of the best Cut the clutters
Best quote in CTC is Pakistan is democracy in its own kind…. Absolutely true… everyone in Pakistan has to say something… Military has a role, so does religious elements, tehrike Taliban, last but not least politicians… even Pakistan allow Chinese to have a say
Sir one of your comments was that Taka has depreciated "slightly slightly slightly" more than the INR however as you always say its the percentage that matters and gives clear pic.
INR depreciateda at 5.35 % between 2 Aug 2021 and 2 August 2022 against USD
Taka depreciated at 13.35% between 2 Aug 2021 and 2 August 2022 against USD
This means Taka has depreciated 2.5X faster than the Indian rupees. So by no means its slight depreciation.
You also use numbers to set the narrative like other mainstream news channels.
Please correct me if I am wrong.
OK, now take a look at a 5 year span, what you think?
Short and sweet - IT sector has kept India safe.
Thanks!
Sir...6 months back u were praising Bangaladesh and demotivatinf Indian economy...now what happened guruji
Last year Bangladesh expend 4.20 billion us dollar for LNG import,but not using for oil and gas exploration
A great session, puts things in perspective
Fantastic...analysis!
I believe that the failure of countries around India is bad news for India too. Therefore, I wish none of the countries around India fail, including Pakistan. But, I am amused to see Mr.Shekar Gupta bending backwards to defend Bangladesh's economy. He has always delivered full throated praise for Bangladesh's economic and social indicators, always slightly denigrating India. Whenever something bad has to be said, it is subcontinent, to include India. When it comes to praising, always exclude India. How the liberal-lefties would love to see India go Sri Lanka way. Fortunately, Raghuram Rajan, who is no fan of India has himself shut them up recently on this issue. India may not be a stellar country in polity, society and economy. But, India is neither China nor Pakistan.
Great discourse today.. would be great to understand 2 more things:
1. When a country goes to them 22 times why don't they just decline supporting the bad governance ..
2. Where does the IMF get its billions to support the list of countries..
@28.13 Its A picture of Panjim Goa in the 90's.Thanks SG &Print for sharing it
Excellent episode..thank you for the excellent data based CTC.
Hi Anuradha,
It is heartening to see you tune into CTC regularly. Thank you for being a paid member of the our channel.
Shekhar ji, your last sentence was quite pertinent - all the times India had to go to IMF was during the thick socialist era of the Indian economy. Socialism, if implemented incorrectly, can inhibit zeal to work hard among people. Indians, by nature, are ambitious and hard working, and this is the primary reason that India quickly start becoming prosperous after the country changes its economic policies. As far as socialism is concerned, it can only work when there is no corruption and 'rule by power'. May be the countries in South America and Africa, which have been seeing bloodshed since past many years, need demilitarization and then socialism, which probably can help join their badly fragmented societies.
Tell me one country in africa and south america where socialism worked.
@@surajs5913 and if the capitalist oppressive elite hadn't paralyzed Venezuela , Cuba , chill they too would be in with urguay
@@surajs5913 maybe Chile
If our forex is enough then no need to go for IMF
Wonderful wonderful CTC. Thank you 😊
Hi Kishore,
Happy to note you liked it.
Thank you for the full inspection sir . Big fan of yours
Looks like SG doing his payback for the Annual Mango Basket Bonus he gets from Sheikh Hasina.... Have never seen him talk so lovingly about his own country... In 30 min he justified the politics, economy and leadership of BD without a word on the growing radicalisation or food import vulnerability or the overdependence on 2 sources for GDP
growing radicalisation? lol your country is run by rss/bjp while bd government is their opposite
Hum first, hum first
😅👍
Thank you so much, sir
Great episode 👍🏻👍🏻
sir your data is actually incorrect.. bangladesh gdp is 397 billion $ and not 416 billion $, also india's gdp is 3.535 trillion $ and not around or lower than 3 trillion.. also our gdp per capita is also higher than bangladesh in the recent imf estimates , though nominally ( India 2543 $ per capita V/s Bangladesh 2362 $ per capita )
Don't correct him, he won't learn. He keeps peddling the same lie again and again just to save his face.
5 trillion bol de 100 likes mil jayege🤣
@@roflkohli2853 Teri kyu jali be? Bangladesh chale ja fir. Unless you are already there Xd
@@nou4605 Wahh re lomdike matlab aage wala fenkh raha hai to tu fenkhne do🤣
Deshbhakti me aadmi jhoont bhi na bole hai na😜
@@roflkohli2853 go to imf official site and search nominal gdp data for 2022... unlike you i'm not a troll so i dont have any inclination towards spreading misinformation...
one by one Shekhar's favorite countries,which he uses to rap India at the knuckles ,are dropping dead; and I do not say it with any glee;because when a political journalist talks about macro/micro economics,I always take it with a pinch of salt; most information is heresay or third party outsourced and has no basis in ground reality
Mostly data and reports compiled from here and there....
Thanku so much sir your lecture is very helpfull and given a perfect knowledge
Well clarified sir
Please elaborate on Patra chawl scam next.
With Manasi Phadke in tow.
India gdp now is 3.4 trillion usd not 3 usd
Good Data points covered.
Nice Analysis Sir...