Sri Lanka, Russia, 30 more on the edge, why nations default on debt & what happens when they do

[@ThePrintIndia]

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[@rishabh2264]

Sir, I have a very basic economy question.... How can Sri Lanka have almost double the GDP per capita than india and still default. Wouldn't the government of S. L. earn more per person(as tax) because it's people make more money per capita compared to India.... and then use that money to buy dollars. It just sounds counter argumentative than even after being so rich Sri Lanka can default

[@Sword_Master149]

why would anyone with functioning brain try your membership? When all you do is read headlines from NYT.

[@warrier007]

Done

[@navaratnamratnajothi5444]

TKNR: THANKS.FOR THE VERY FAIR NEWS ANALYSIS.

[@sunilsadashivpaithankar523]

Lo7u co ivvv8I8iiiooiioiíoo9o99pp KKK Ku yyió8 oy us8iyyy I iuyuiuuoo9I IAU ui KO yk Ku u7u guy I yo oo oo poo poi ooVoo9oo99oo9oo out999o9999ooo

[@Simplify_Lives]

Good one Shekhar! Do plan one on the Financial Health of Indian states and what that may imply to us in the times ahead! Also hope to see your CTC episode number 1000 to be a live one of a late evening!

[@2323yash]

Yes. I was just about to write this. Quite worried about this crazy free electricity upto 300 unit scheme that AAP promised in Punjab. It seems to increase deficit by at least 6-7k crore rupees.

[@rambrk]

Yes sir. We need a similar one for all states

[@aswani5858]

best use case is Andhra Pradesh. Best template on how you can fail. Can you imagine govt taking away money from panchayats (without any notice or order) almost equivalent to stealing

[@manaskumarhaldar2725]

In West Bengal Panchayet money is mostly stolen - both village leaders and party make money. Happy village leaders get vote for the party. Andhra will save by withdrawing money from panchayet thieves.

[@saranathantg]

I also request Mr.Gupta to explain the precarious financial position of the states without any political bias. Very irresponsible political parties vying with each other in misappropriating hard earned tax payers money.

[@satyanarayanakuppabadari7447]

Kindly do one CTC on the populist schemes of some Indian states like Delhi, Andhra, Punjab etc as to whether it can lead India to the present situation of Sri Lanka

[@dineshpratapupadhyay6583]

It definitely will. Will make India insolvent. That is the plan. I wonder whether it's all being done as a part of a sinister conspiracy.

[@sagarkumar-nq1gv]

300 units free in punjb

[@gauravdas6741]

No bcoz indian economy runs from western and southern state they are main driving engine.

[@KarthikS30712]

Impact of free food, TV, Fan, Grinder, etc etc in Tamil Nadu.

[@eugenedebbs2189]

@@KarthikS30712 I don't think these limited populist schemes are a real drain on a country's resources. India just needs to raise its tax revenues by cracking down on tax evasion. Currently, only slightly over 1% of the Indian population even pays taxes to the Central govt (and most of these taxpayers are from South India and West India). This needs to change and the central govt needs to start getting the taxpayers in the North and East to pay their taxes as well.

[@tubro541]

isn't the UK refusing to return the gold reserves that Venezuela has stored there, and why doesn't that affect the UK's credit rating?

[@badbad-cat]

They're not even returning the stolen Kohinoor that's being shamelessly flaunted on their queen's crown. Looting is in their DNA. They'll have excuses all the time

[@tubro541]

how much gold has India stored in the UK and can India get that back?

[@vaibhavs13]

No all laws apply to third world countries. Developed nations detect their own terms.

[@Medleri]

The UK has a PM and Finance minister who don't follow their own rules. So why would they follow anything else.

[@debasishraychawdhuri]

Russia did not default on its debts, the banks simply refused to process their instructions to pay even though they had funds. That is force majeure, not a default.

[@СергейК-щ6ю]

Для некоторых важнее как говорит хозяин сверху... А так вы абсолютно правы

[@Серф-к7л]

Spasibo

[@boknow5506]

Nope Russia defaulted and they shut down ruble market and only inside Russia get ruble so no other countries take ruble and airplane rented to Russia and oil tankers Holland owns it not Russia even McDonald's and others and Russia tried to steal airplane and McDonald's but no supplies and airplane and tankers will get taken or sink

[@boknow5506]

They wanted to use funds sanction and that was taken but Russia won't have new funds material Russia will have some oil it can't sell Russia didn't own or run refinery so Russia won't have oil bc no parts or knowledge on how to run refinery

[@julkiewicz]

Wishful thinking. Sure, if you close your eyes and shout "no no no no no" very loudly, then it's not really a default.

[@Kenkalsi]

I got interest rate 1.99% annually on mortgages and 3.7% annually on commercial loans. Combined i have loan of 5 million usd. My rating is better than Pakistan.

[@Kenkalsi]

Indian in hong kong. Hk dollar is peg with usd so our interest rates are same as usa.

[@cryospyros8959]

@@Kenkalsi you are fooling no one, wumao... But keep trying to earn your 50 cents. My prayer are with the people of Shanghai. Its unfortunate theyre under the heel of the ccp. Or do you call it cpc now?

[@chaitanyavinjamuri]

Hope, all the retired professors contribute to the general public like you, thank you sekhar ji.

[@KaylaCaryapadas]

This absolutely no truth. I'm from Moscow. We have very stable situation now here. Everything i can buy in any shop. Prices increase 15% it's just one normal jump for our long history. So better don't spread western lie.

[@julkiewicz]

Last I heard butter was sold in anti-theft containers. Like expensive electronics.

[@scienceisreligion5618]

India has to be careful. Neighbouring country default are not good for us even if its pakistan. Also one has to Remember "Communism raises when Hunger and poverty comes in place. It's more of Engineering thing to make poor so people ask for Communism". Even India has to make sure our people dont go poverty line also don't consume much imported like petrol. We have to become Export market.

[@micapathofprophets1532]

If India want to be a Super Power, it need to figure out a way to help Shri Lanka in win, win situation. This why it not ease to be a Super Power.

[@scienceisreligion5618]

@@micapathofprophets1532 India is not in super power. We itself need to develop alot. Our infra needs lot of upgrade, changes in education, Medical system and should Export products. India will be cautious on helping as it might affect India at back.

[@rajx7120]

India's states are not in good shape. Many states, have high debt.

[@scienceisreligion5618]

@@rajx7120 yes. UP, punjab, TN, like high debt states has to be careful

[@micapathofprophets1532]

@Manas Kumar I know but world events have pull you in Indian. You have no choice. You see your ally Russia wanted to destroy NATO. But the price Russia had to pay was to not re-supply India should a war break out with Pakistan and China on one side and India on the other.

[@tapemaj]

Sir Watching this episode my thoughts go back to late ex PM Narasimha Rao who had the courage to rope in Sardar Manmohan Singh to open up India’s economy way back in the mid ‘90s . India too was on the verge of default with late PM Chandra Shekhar shipping off to mortgage Indian gold to the Bank of England . Tide changed with the Chanakya of India’s politics Narasimha Rao taking over . Rest as they is history ! India owes the late PM a huge amount of gratitude 🙏. Sadly , Congress party even refused to cremate his mortal remains in Delhi ….

[@PK-tt5kk]

We still have a lot more reforms to do. Hopefully the economic crisis will speed up reforms in India.

[@tapemaj]

@@PK-tt5kk Well said

[@sanjeevsood531]

PM Narsimha Rao deserves more credit and respect than he is given. HE started the process of reforms and not Manmohan Singh. Even Congress party does not talk about his contributions. Very sad.

[@kevincastelino3209]

Manmohan Singh was the brain behind that move. PM Narishma rao supported it to whatever it takes. There was no other choice.

[@ramananvenkataraman4594]

No sir. It was rakesh mohan commitee report of 1987 that contained all the measures that were taken by Mms. Mms was a contributor to this mess as CEA for Indira Gandhi in 70s. We had 98% income tax then

[@abhishekjha1996]

I know about Insolvency and Bankruptcy very well. But never thought about 'mundan' in this process.😂😂. From now onwards, if haircut is more than 50%, I will consider as 'Mundan'.

[@GururajBN]

Very good presentation Mr.SG. Many thanks. That was funny - "Haircut vs Mundan/Tonsure"! One additional information. According to opinions I read on Pakistan news sites, Pakistan has borrowed 16 times from IMF. It is getting ready for 17th bailout by IMF. India suffered this humiliation in 1990, thanks to Rajiv Gandhi's irresponsible spending of valuable foreign exchange. But, India has learnt the lesson and is better for all the conditions imposed by IMF. Therefore, I assume that the conditions imposed by IMF are for improving the economic health of the borrower, not to ruin it. Some States in India are also on the verge of becoming Sri Lanka, especially Kerala, Tamil Nadu, West Bengal. Like Sri Lanka, Kerala has no industries worth speaking of. One may add Telangana, AP and few more to the list. They are spending money for populist schemes as if there is no tomorrow. Besides, huge public money is lost due to corruption. Of course, there is no IMF for the States. The Centre would have to bail out these States.

[@appukuttanj]

Kindly do explain the 'corruption' that has bankrupted Kerala (least corrupt of all Indian states according to NITI Ayog stats). And do please take care not to mention the impact of 'once in a century' floods happening two successive years just before a 'once in a century' Pandemic that wiped clean off the entire tourism sector that contributes 30% to the State economy besides putting the brakes on foreign remittances. Yes, Kerala is heavy industry deficit (as would any land limited state be), but it's been at the forefront of enhancing it's IT and services industries to lend heft to its tax base. But anyone with a least bit of sense would know that it is a time sensitive enterprise. Kerala is not fund starved owing to profligate populist schemes or mind-blowing corruption. It has always been so since time immemorial. Any society that spends 40% of its SDGP on the social sector has to inevitably take a hit on its creditworthiness. Also, I haven't seen the Central government 'IMF Funding' Kerala, bailing it out all the time. In fact, if one were to go by the latest Finance Commission figures, the Central Government has consistently been sweeping up taxes from all of the Southern states and then spending it on populist schemes in Uttar Pradesh, Bihar and other northern sisters (and Gujarat). So, in reality, the Southern States have been subsidising the abject profligacy on exhibit up north for decades. Maybe you need to upgrade your glasses to correct your myopia before belching out inanities.

[@pharaohakhneton9553]

The best ever thing which happened to me is the day I chanced upon The Print video quite accidentally. Sekharji was already well-known for his unique trade-mark programme 'Walk the Talk', I watched his video casually. Then within a week or so,I felt like finding a diamond mine. It is a great relief to find that his programmes are so cool, because viewing TV shows has almost driven me to the point of insanity.

[@PK-tt5kk]

I stopped watching TV 4 years ago. Specially news channels

[@abhinavsingh.92]

I only watch TV news to follow specific breakout news stories.

[@karanjjjjjjjjjjaaaa]

Two questions. 1. Why don’t we talk about how is Indian government behaving when it comes to being financially responsible and where we can improve in macro stability? 2. Looks like CTC discusses economic failure stories, why not look at success stories as well during pandemic. Is India one of those? Why I think there should be a CTC on that. We complain our politics is not driven by economics and “it’s the economy stupid” does not apply to Indian elections. Don’t you think it is lack of media coverage to adequately criticize, praise, debate economics of the government that further dis-incentivize government from making economy their selling point. As an observer, I see this government more than responsible when it comes to debt. But i would like to know more.

[@gujarati16]

He won’t It doesn’t suit his negative journalism.

[@Panini_Edirisinhe]

Thanks, Shekhar, Having listened to all that you've said, I've scrolled down the comment - 147, as of now. Even looked at a few of the "Reply Comments." It looks as though I'm the first Lankan to comment. I'm as far from the capital as one can be: Bandarawela, at an elevation of 4,000 feet - tea and vegetable growing area. Even more significantly, I'm a Sinhalese; I don't know any Tamil at all, but, in my case, that is not so very significant. I never wanted a war (it stretched from roughly 1980 to 2009 - and then it was over. Some Sinhalese won't accept that, and swallow the Rajapaksa narrative that there still is a security threat. So saying, the numbers in the armed forces have increased. Paying all these soldiers has also contributed to the economic mess. We wanted the Rajapaksas out. We succeeded in 2015, and I was naively enthusiastic about the new President - Maithipala Sirisena; I acceptd at face value his claim to be essentially an honest paddy farmer, who'd been in politics since his teens. He was a huge disappointment. He was in coalition with Ranil Wickremasinghe, a quite different guy, who just didn't allow democracy within his right-wing Party. It was their shortcomings that allowed the Rajapaksas to get back.

[@ThePrintIndia]

Thanks for writing in, Panini.

[@prakhargupta2081]

12:01 'they have been evergreening thier debt' don't know if it was intentional but its a clever reference

[@John11747]

On the same lines states ruled by AAP should not be supported with central funds for their profilgate policies of freebies all around...

[@brahm-ahamasmi]

Actually AAP "freebies" TO PEOPLE are negligible compared to "freebies" by ALL other states and the CENTRAL government. AAP freebies are building human infrastructure which reaps the highest ROI and so all advanced countries (which are all capitalist) have same policies. Most states don't give these freebies but spend on cars, helicopters and freebies for netas. What AAP spends in a month on freebies, UP spends in an afternoon (look at their pre-election giveaways).

[@SachinGupta-cy8lc]

@@brahm-ahamasmi AAP freebies were okayish in half state like Delhi where the spending on police force is not required. (Almost 5% GSDP). lets see how they handle Punjab.

[@brahm-ahamasmi]

@@SachinGupta-cy8lc Punjab is tough not because of spending on these schemes but because 25% revenue goes as interest on the 3 Lakh Crores of debt. If the state got to this situation without freebies then the question should be where did all that money go?

[@SachinGupta-cy8lc]

@@brahm-ahamasmi This is the case with almost all governments min 15 to 20% is spent on debt servicing. Lets see how it unfolds, if they can really turn around. Will have to see till the next election

[@rodtukker1904]

The Russia case should be called Fed default instead of partial default. It's like a gateway failure as they client authorized payment and bank doesn't process. Economists should raise up to look after their theories. What these economists would teach to their students in future.

[@julkiewicz]

It's not about authorization. They don't have the funds. Their funds are frozen. You can't pay with frozen funds. Russia knew the funds could be frozen if they break international law. They invaded anyway. Actions have consequences.

[@tejas_yadav]

I am so used to watching SG at 1.25x that he feel almost a different person in normal speed. He is also very energetic in 1.25x.

[@bhai857]

1.5x

[@jcentricity]

Russia did not default because they paid debt in rubles. In addition the have funds to pay debt but gold reserves frozen so if you have funds to pay debt you cant default. West creating artificial Russia debt default

[@julkiewicz]

Yes, they defaulted. First, you can't repay in a different currency than that stated on the bond. Just like you cannot repay in potatoes. Secondly, whatever caused this situation it's still a default. Russia should have known better than to illegally invade a country while holding reserves in foreign countries where they could be seized as part of a sanction package. Default is default.

[@tubro541]

the US has defaulted on their debt to Russia by freezing $300 billion dollars worth of Russian deposits in US Banks. Why doesn't that affect the US credit rating?

[@badbad-cat]

I'm hoping that the central banks across the world are taking note of the modern daylight robbery and it has already dented the credibility of US dollar as safe haven. I believe it's better for India to promote Indian rupee for global trade

[@rahulitrc]

Haha. Because US dollar is still world currency and only one country can print it.

[@Sword_Master149]

Because US is credit rating setter. Why would you downgrade your won rating. and Facts have never been strong suit of Gupta.

[@rahulitrc]

@@Sword_Master149 also because USA is still the strongest and biggest economy in the world. China is catching up fast but because of trade with USA and Europe.

[@Sword_Master149]

@@rahulitrc 30 trillion dollars debt yet strongest? Lmao the only thing working for them is dollar printing. And it's us non Americans who pays for it.

[@АллаДемидова-ы9т]

В России дефолт? Странно🤨 Я помню дефолт, но сейчас ничего такого нет! Может он как бессимптомный ковид проявляется, типо он есть, но это не ощущается?

[@kostar.2749]

Ага, а у переболевших только иммунитет от обычного дефолта остается)) Пусть не смешат, мы пережили настоящий дефолт, а это так, курам на смех

[@ytramsy1970]

What we know is about the size of a grain of sand, what we still have to learn is about the size of an ocean.

[@PMPatel-np5jq]

Reminded me of a book I read some 3 decades ago: Teresa Hayter, ' Aid as Imperialism'. Debt trap is becoming more and more deadly!!!

[@dineshpratapupadhyay6583]

Never give loan to a man stronger than you.

[@naeje2]

i want to point out that the additional stress that has been placed on the world economy is not because the horrible war, but rather because of the sanctions that the United states and Europe have decided to use to retaliate against Russia instead of coming up with a diplomatic solution to prevent the war.(and now stop the war). it's very unlikely the sanctions will be lifted if the war were to end soon. So the economic hardship is just starting and will engulf more and more countries.

[@prajwas2004]

What do you suggest? One tyrant to attack another country, destroy it cities, kill its civilians, and then look for "diplomatic solution"? What precedent are you setting here? You think giving a dictator what he wants is a solution? You think this "diplomatic" approach that you suggest will prevent a Chinese or a Russian invasion of another country in the future? No. It will be perceived as weak. If you would provide me a diplomatic solution like this, i would take a piece of your country, have "diplomatic talks" and then come back next year and take another piece.

[@debapratimkundu9918]

A diplomatic solution is well and good but no-one can say what it looks like. Should Ukraine just give up large parts of its territory and drastically "de-militarize" and reduce its army to a fraction of its current strength, after being invaded ? And should Russia just walk away scott - free ?

[@ansmram]

@@debapratimkundu9918 Start by implementing the Minsk 2 agreement. Diplomacy was not even attempted by Ukraine.

[@Movingacharya]

@@ansmram true

[@poo-tinthedwarfbunkerb1tch535]

@@ansmram And why should they? Did russia respect the bucharest menorandum of 1990? Why are weak, small and peaceful countries always expected to keep appeasing oppressive, genocidal, war mongering rogue nations like russia?

[@aryaaswale7316]

Could you perhaps do a ctc on your research methods? Or is it a trade secret? Because the research is the best and this show is marvellous

[@sanjeevsood531]

Very informative. Please do a program on Fiscal State of major states of India, one episode one state. States that give sops like Delhi, WB, Punjab etc.

[@san-chil]

This is why India needs an urgent and stringent law for punishing candidates promising freebies on tax payers account. Such candidates need to be disqualified outright and India must also have mechanisms in place to prevent political parties of robbing the tax payers. I suspect only 1 in 10 pays tax in India anyways. The salaried person pays income tax and gst/hst as well. Electricity is freely stolen ...

[@anmolmonga1933]

Do you think we will have politicians left after that. Modi to kejriwal to mamta everyone offers freebies.

[@san-chil]

@@anmolmonga1933 Which is why it is all the more important to put an end to this. If one politician sees it work and every body tries to out do the other. It could termed as one of the short comings of the election process which needs to improve; by putting an end to this practice.

[@shikharagrawal59]

Actually almost every person pays tax. Your guess of only 1 in 10 wrong

[@tenton459]

Srilanka's default has nothing to do with freebies.

[@san-chil]

@@tenton459 subsidies and poor tax collection ...and lack of resources to generate income ...

[@meetadi4u]

What applies to imf can apply to China too right ? No country was forced to accept those loans . I am not a fan of China but yard stick has to be same

[@PK-tt5kk]

major difference is that the terms of the loans are kept secret, so the general public has no clue.

[@hpremjit]

First, China's interest rate very high. Second, China gives loan mostly to countries which won't be able to pay back with loose conditions(IMF have strict rules). Third, IMF always restructures the loan and never takes assets.

[@180190ful]

IMF/World bank interest rates are mostly 2-3% ball park whereas China lends at 6-7% With China's lending the devil is in the details. For example, when they lent money to Hambantota port project, one of the clauses was that the contract to build the port HAS to be given to a Chinese company. They lent $1 billion, majority of that came back to the country, thanks to this clause while on paper Sri Lanka still owes China $1 billion. IMF/World bank loans 9/10 goes for restructuring or extension not taking over of country's assets.

[@hatanokiripres]

@@hpremjit There are 3 types of interest rates, means not all interests are given in high rates, research a bit. Debt trap is a myth, created by the US which is already debunked

[@hatanokiripres]

@@PK-tt5kk pretty normal between clients and banks dealings

[@amitavasaha3057]

Pls have an episode on India's debt with special focus of debts of state govts

[@jirachi-wishmaker9242]

+1

[@georgejoseph837]

Would like to know to what extent we are at risk. What is the liability of an average Indian citizen? Or are we affluent enough to run a pain and palliative care unit. Globalization and liberation are imperialism in a more intellegent way. Do we have anything that is fully indigenously developed?

[@jimmihendrixhendrix9575]

Excellent topic. Good job

[@cardenova]

20:15 😂 in america, the metaphor always used is “when it rains, it pours”

[@akshayhiremath4584]

Its sad but Afghanistan is like “jo ukhad sakte ho ukhad lo” 😂 Anyone who will try to recover anything from Afghanistan will have severe recovery costs or may end up in a situation where it has to recover itself from the shock 😄😄

[@dineshpratapupadhyay6583]

Pakistan also going on the same path.

[@Blissful38]

Ideally, Fed should allow repayments of Russian loans taken prior to the war…

[@julkiewicz]

Why? Russia needs to pay for what it has done. Besides, the just thing to do would be to seize those funds and redirect to Ukraine to let it rebuild. Ukraine GDP has dropped by 45% due to Putin's illegal invasion. The cost to rebuild Ukraine is already going into hundreds of billions of dollars. It's only fair Russia foots that bill.

[@VijayPawar-sz6gq]

Wonderful insights 👌

[@james9297]

The main problem is most countries who have monetary sovereignty borrow in dollars. Which is undermining their own monetary sovereignty.

[@julkiewicz]

There is no viable alternative. They don't borrow in dollars because they love dollars. They borrow in dollars because the alternatives are just worse.

[@tubro541]

Did the United Kingdom repay India the £ billions in war debt accumulated during World War 1 and 2? They paid back the US.

[@KiranCv007]

As far as I know, they asked us to take goods instead of money as they didn't have enough money to pay back. For eg: India's first aircraft carrier was given to us in this way.

[@TheBigDaddyClub]

i was actually travelling in Sri Lanka during the crisis last month. check the power outage video i made. also the video where a locals attacked me openly. police is just busy controlling protests.. its a crazy situation.

[@apurba3115]

Well presented news.

[@chandanbisht7702]

Very interesting commentary.

[@mandarp9472]

Common reasons are reckless spending, freebies, endless subsidies, corruption, reduction in taxes, ever increasing expenses on salaries & pensions, spending by borrowing money on non capital expenses.

[@pardeeptandon]

By the way, both Pakistan (87%) and Sri Lanka( 101 %) have less debt to GDP ratio than that America which is 137%. while that of Russia is among the best in the world is only 17.4%

[@shadowpat810]

That's because Putin was getting rid of all sorts of debts country owned as future preparation for the time he goes full lunatic

[@zigzagzog100]

very informative,

[@tubro541]

when Mexico owed some European countries money, didn't the European countries send their navies to try and collect?

[@thechosenone1533]

Yeah that lead to France conquering Mexico and installing an Emperor there. It ended with Mexico kicking them out and executing the Emperor.

[@tubro541]

the Russian ruble is currently backed by gold, and worth almost the same as the Indian rupee. India and Russia should increase trade and the Russians should peg their ruble to the Indian rupee, like Bhutan does.

[@Stringi777]

We respect sovereignty of India. But we don’t need Russian ruble to be pegged fo Indian Rupee. Rather they should invent Brics Currency ( like Euro) which would be an international currency

[@dineshpratapupadhyay6583]

@@Stringi777, Good Idea

[@boknow5506]

No other countries take ruble and Russia shut down ruble market so only inside Russia uses ruble

[@tubro541]

@@Stringi777 India used to have an international rupee, which the British used, to colonize and build the rest of their empire. In the mid-1960s is when other countries especially in the Middle East, stopped using it.

[@tubro541]

India needs to be exporting more consumer goods and groceries to Russia , so they can buy more Russian Oil, Gas, Fertilizer, weapons systems.... And Russians are getting tired of too many Chinese consumer goods & groceries. Russian businessman could also start manufacturing in India to avoid Western sanctions, and help balance the trade, as India has trade deficits with far too many countries and that is totally unsustainable for India. Russian businessmen could also be building and buying Indian hotels and tourist properties, as Russians love to visit India.

[@pratyushsharma585]

Very informative. These kind of videos keep the middle class people to keep their expenses in check but then again there are tourism advertisements and others 😂

[@shishirjirge]

There's so much to learn - very true 👍

[@Normal-rh]

If possible kindly do CTC on India's assembly election system where different political parties are seen promising citizens of freebies and its effect on our economy

[@tubro541]

isn't the US refusing to return European gold that is stored in the US?

[@tubro541]

how much gold has India stored in the US and can India get that back?

[@alexdaniel1409]

Shekhar ji. With all due respect, could u please do more CTC on India, especially issues related to Jobs, unemployment, income disparity, economy etc. Everyones discussing on useless issues like food ban, hijab , Hindu Muslims etc. Govt. wants people not to talk about real issues that's why they prop up these things. At least can u pick some right issues and let us know how much in deep shit are we in.

[@harshb747]

Well, india is doing okay in economy given the global situation. Regarding unemployment, government can't do much. Indian people have to become entrepreneur and create jobs. It's time people stop relying on the government, let government privatise everything and let people manage their own house

[@premprasad3511]

Russia has not defaulted due to inability to pay. Its creditors forced it into default by banning them from making payments !

[@julkiewicz]

They defaulted because their assets are frozen. You cannot pay with frozen assets. And assets are frozen because Russia violated international law and started an illegal war causing already 45% GDP decline in Ukraine and causing hundreds of billions in material losses in Ukraine.

[@premprasad3511]

@@julkiewicz and which international law was NOT violated when the US and its allies waged wars ? Was there a law which allowed the US to incinerate Vietnamese with agent Orange ? Where are the WMDs that the US and the UK went after in Iraq ! Which international law was followed when the west supplied chemical weapons to Iraq ? Are Iraq abd Afghanistan thriving democracies now that they have been "liberated" by the US ?

[@winstonjesudas4342]

US wanted to experiment whether major powers can be sanctioned and brought down as till now only small economies have been sanctioned. RUSSIA FELL INTO THE TRAP SET BY USA. Good bye Russia. It will be like Iran.

[@premprasad3511]

@@winstonjesudas4342 If you try to destroy a country which has been of the leaders in science with over 32 Nobel laureates despite belonging to the Soviet block for much of its existence, is a reigning space and military superpower, holds the on eof the largest reserves of oil and gas...if you destroy them, they will destroy you. If after three months of sanction the only signs you get are that the Russians are preparing to invade another country, it is better to rethink how we engage with them.

[@srinivasrao369]

Yes if all our states debts r accounted for we fall in the same category GST of most non BJP ruled states r not given till date

[@mdichathuranga1]

The main reason for the crisis is, diaspora of sri lanka living in foreign countries has stopped sending money to sri lanka as a step against the corrupted government. Thats the true reason. If this government resign people will send money back to sri lanka which will solve a huge part of this crisis. So the solution is stepping down from power.

[@karmanyakumar8295]

"But we should ignore all condition and start shouting about high prices. This government is doing nothing for high prices. "Liberal view

[@lakshmikanth6938]

Please do program regarding our princely states

[@pankajmadhursharma8135]

boss!!! u r n ur analysis is God level.. 👌🏼✌🏼👏🏼👍🏼💪🏼

[@tomorrowland2684]

Could you do debts and the bypassing of central government schemes to various uses in Andhra pradesh. It looks like another SriLanka.

[@tomorrowland2684]

I think its waste of money to be a member when the whole point of member is to get replies and acknowledge whether @ThePrint would like to do an episode on it. Thanks for letting me know that it is waste of money.

[@micapathofprophets1532]

India Banking system isn't really design for global trade. There a lot of regulations imposed by the government so Indian Banks are quite small.

[@adarshs4553]

Shekar, What's ur take on a state govt. bulldozing houses for alleged law and order incidents?

[@sankalpvyawahare1940]

Read 50 words edit on the print...

[@adarshs4553]

@@sankalpvyawahare1940 Thank you!

[@satpalgrewal2785]

Sire kindly check the deferred data for Pakistan

[@RRR-nz8pi]

Can you do a CTC on US Saudi relations

[@tubro541]

It is extremely funny how Tata is unethical enough to manufacture in Uighurstan but won't have anything to do with Russia who just tried to prevent the genocide in the Ukraine

[@VV-lr7xe]

Hi, sri lanka 100% , three Rajapaksa brothers robbed the whole country. Invested in sheshells , uganda. Etc. Current humanitarian aid received is being robbed, not going to any medicine or anything ! Dont confuse covid issue with sri lankan issue!

[@gowda1862]

"I don't know what anyone can recover from Afghanistan in long term or short term" 🤣🤣🤣🤣

[@geetaarth7142]

Many Indian states are also on the same way.

[@chickenbuttermasala8458]

My Vladimir Putin account got banned at first Now they came for Welsh Supremacy as well 😭

[@Drkp23]

Just for the sake of clarification… why can’t Russia ask India to repay sovereign debt for this month and supply oil to India for equal amount???

[@dineshpratapupadhyay6583]

Brilliant idea. The problem is that the West won't accept it.

[@yogikarl]

Plz : give an English subtitle when you speak your glorious Heritage Hindi

[@oberoiashoo]

I love your analysis and the way you explain I was living under a rock when I had not discovered The Print

[@abhinavsingh.92]

I discovered The Print some 3 years ago and it has completely changed the way I look at politics, economy, foreign policy, and so many more things. You are in for a treat, my friend!

[@sumitsoral]

SG love your style of explaining the subjects in such a simple fashion. I laughed when you said "mundan". 🙂👌👌

[@dip10]

First i asked you on Twitter to make video on covid crisis in China and then day before yesterday again asked you to make one more video on debt trap and rising inflation in many countries. Thanks again SG 😀

[@tejwanichander]

Indian banks have idiotic & confusing rules.They punish honest & help the thugs

[@riloveadani3735]

Hey print Just want to praise your hardwork Keep the good work up Also a suggestion pls make subscription cheaper like 29rs a month yes i know it's less but you will cover it by the volume of increased paid viewership Just a random suggestion 🙂

[@gangnamstyle5270]

Agreed

[@gangnamstyle5270]

I think 50 re per month is fair

[@abhinavsingh.92]

I've seen other channels with the same ₹159 membership fee. Maybe it follows a standard or something like that?

[@2010sunshine]

😀😀Gold is not mortgaged.. It's pledged.... Car is not a collateral security for car loan... It's primary security... Not your cup of tea... SG Sir.. Give such topics to experts. 😃😃

[@prachetmakwana6011]

I love the birds on SL bank notes

[@chickenbuttermasala8458]

Sir , please share your opinion on Economic Hitmen especially the book which is written on it

[@ANHTUAN_ART]

I saw: Turkey bombed, attacked Iraq, why no one embargoes? Is the whole of Europe blind or dumb or deaf? Ukraine is not self-reliant, not neutral, but prefers to be aggressive, denies history, makes policies and actions that are very dangerous to the threat to economy, politics, culture, national defense and security. Russia. They did not ask for aid as much as they hoped, then they turned their backs on criticism, rejecting Germany, France and other countries. Europeans especially Germans and French are very smart, why don't you know that Britain doesn't join the UERO currency and get out of the EU to weaken this union? Why does Europe kneel before the US to depend on the US and weaken itself? Why didn't Europe allied with Russia to create the greatest union in human history?

[@rambrk]

As usual super video sir

[@tsasangsuthupitor635]

Sir, now Modi Govt with the help of India media and so called puppets expert's starting blaming AAP after Congress, Modi and Media's says because of AAP free distribution of light water etc makes India Dept increases, is that true? AAP free distribution can really increased of dept into such hundreds lakh crores?

[@saranathantg]

Thanks Sir. Very informative presentation.

[@harbari]

It's wrong to mention Russia in the same breath as Russia has offered to pay its owed payment in Roubles and not defaulted by inability to repay. In the political games being played, its offer has been declined as these institutions are more beholden to western ideology and propping up the USA currency. It can be said the change in Russian stance is contrary to loan agreement but its time these arrangements were changed instead of loans becoming a monopoly bankrolling the USA.

[@junkookbts1273]

USA rules

[@boknow5506]

No other countries take ruble

[@boknow5506]

India uses roupe Russia uses ruble no other countries use ruble why would anyone take ruble you only use ruble inside Russia and Russia shut down ruble market

[@harbari]

@@boknow5506 for too long the rest of the world has bankrolled the USA by its manipulation of international transactions in US$. So poor countries in order to afford their energy purchases have to first buyUS$ and lose out significantly in the exchange rate and all the US has to do is keep printing its useless currency. Countries trading with other than the US should be able to do so with their own currencies or direct barter and not fund a middleman not at all involved in the process!

[@harbari]

@@boknow5506 Its time they did! If you can buy your oil from Russia, you can pay for it Roubles too. Why should Russia fund the US when all out does is to ensure Russias worst?

[@rameshkumarpenmetsa]

Money is created only by debt that means when they created $100 they are expecting ($100+Interest). Which means they are asking money which is not existing. It is a surprise that Mr Shekhar ji is worrying about rise in debt. When these enlightening intellectuals enlighten them first before preaching everyone.

[@poohjinping3363]

guptaji, pakistan has gone to the IMF a total of 22 times we should not underestimate our neighbor lol

[@nomorenews]

Inspite of that their standard of living is higher and less hunger and poverty then the land of bjp

[@parvadhami980]

@@nomorenews HDI of Pakistan is Lesser than India.

[@poohjinping3363]

@@nomorenews Bhai yeh kya bol raha hai? Pakistan's GDP per capita is less than India and I am not sure about the hunger/malnutrition,could you site some source? BTW I don't support Bjp

[@nomorenews]

@@poohjinping3363 other then aani ambani and tata family and top 0.1 % own a third of your gdp so the rest get just 2 trillion divided by 1.4 billion people= $ 1400 percapita While 0.1 % paks own just 3% of the Gdp So divide 340billion with 220 million people so it is 1550 usd in Pk,thatswhy people look more well fed. Not counting the huge shadow economy working outside the sanctions

[@jirachi-wishmaker9242]

@@nomorenews 🇵🇰 is looking for $6 billion bailout 🇮🇳 has $600Billion in reserves.

[@tubro541]

India is not far behind those 30 countries, unless they can get their shit together, and start producing a lot more products and services that are good enough to export. India's trade deficits with the vast majority of india's trading partners are totally unsustainable. Russia is trying to help india out by inviting Indian stores and businesses to invest in Russia and and sell Indian items there. India would be extremely stupid not to jump at this opportunity.

[@Distant_Relative]

Some banks are left with a choti on their head rather than a hair cut on some the corporate loan accounts.

[@sanjaysaksena619]

What a sad attempt to defend a complete crook like Niazi. The fiend was busy robbing the toshakhana through this rotten tenure. May he rot in jail

[@pardeeptandon]

SC: I hope you are aware Afghanistan's debt to GDP ratio is the BEST IN THE WORLD as it is only 7.8 while that of India is 74. While of both NEPAL and BANGLADESH are in mid 30"s much better than INDIA.

[@sommyaruproy8405]

Indias debt is in its own currency and india has large fx reserves so we are fine .

[@plreuokjhg]

Where is Raghuram Rajan , the great economist . They were crying india in bad state financially. Still we are standing strong .

[@anantapadmanaabhaprasannak8017]

What if banks become bald like our Editor-in-Chief Mr. Shekhar Gupta?

[@jag5470]

Whats the problem? Prehaps putrid could pay out of his stolen billions, I'm sure a lot of that money will be in dollars somewhere

[@TheDarshan1389]

I didn’t pay light bill of 5k in one month. Next month Adnai said pay in 15 days or electricity will be cancelled.

[@arunsharma234lotus]

Good one and very informative... but one suggestions don't go on line of "the wire "👍👍👍

[@shubhambiswas3723]

Hey! No report on bengal rape cases? Do it and I'm gonna start paying you every month LOL

[@prabhuvn]

What is the position of India in debt? Are we at risk anytime?

[@seshasaiseethiraju8318]

Truely... If any country going to IMF then its could never get out of debt in its existance

[@rameshkumargupta2785]

Kejarival is doing exactly same thing to demolish India electricity sector.

[@krupadave1975]

Instead of looking at India, Sri Lanka should consult Manmohan Singh.

[@sourabhmate1411]

Debt is an accumulation of budget deficits over time. In theory, debt financing of public spending could make a positive contribution to productive investment and ultimately to economic growth. Debt could also be a mechanism for positive macroeconomic countercyclical interventions or even long-term growth policies. On the other hand, high levels of public debt may have numerous negative impacts such as raising interest rates, crowding out private investment, and limiting government’s flexibility in responding to economic crises. Mounting public debt driven by persistent budget deficits, particularly spending that merely boosts government consumption or transfer payments, often undermines overall productivity growth and leads ultimately to economic stagnation rather than growth.

[@oraoffice9562]

"All of us think that we are sab janta wallas".. no Sir only you think like that probably 😂

[@arunhuddar]

One of the best CTC. Thanks SG for the clarity