Indian Economy to grow at 11.5% in 2021 say IMF

[SaShiRaJaVu]

I doubt there is a lot of BTC in India, so whatever the government does it can't have that big an impact. Are there any known Indian BTC whale ?

There are many users from India who are into bitcoin from the start and they are holding a large amount of coins and some of the bitcoiners are not active in the forum but that does not mean they are not actively trading. Then there are exchanges that are having high trading volumes which means there are active users and any stupid decision from the government can have an impact on the local market atleast.
When it comes to the prediction of Indian economic growth i do not have much hope as there is nothing that shows any improvement.

[Sithara007]

There are many users from India who are into bitcoin from the start and they are holding a large amount of coins and some of the bitcoiners are not active in the forum but that does not mean they are not actively trading. Then there are exchanges that are having high trading volumes which means there are active users and any stupid decision from the government can have an impact on the local market atleast.
When it comes to the prediction of Indian economic growth i do not have much hope as there is nothing that shows any improvement.

When the government made the first announcement about the ban, there was widespread panic among the Indian users and the rates in local exchanges and P2P platforms went down by as much as 20% in a matter of hours. The rates eventually recovered, but if a ban is imposed during the current budget session (second phase of the budget session is scheduled to run from 8th March to 8th April), then we can expect a crash in exchange rates which may be even worse than the one we had when the announcement was made.

[SquallLeonhart]

Our people have lost trust in all the politicians because they were all frauds and corruptionists. So, many people voted for the one candidate and party that gave hope because they were not politicians and seemed closer to understanding ordinary people. However, it turned out really bad, and taxes and prices are only increasing, while salaries remain the same. And now with this pandemic the country is closing up to a serious crisis, people can't afford the stuff they were used to anymore, small businesses are closing, etc.

My country has some hard-working and educated people, willing to rebuild the country, like in India. But, unfortunately, the government resists to help and makes the living conditions worse each year, which is why 95% of the smartest people are immigrating. The latter makes the economical situation even worse, but there's no stopping it unless some serious changes will happen, but I doubt that.

Believe me as someone from a nation that had the same politicians for over a decade, I can tell you that no matter how "good" you think a politician is, if you give him power for 10+ years they will become bad, there has never been any politician in the world that ruled over 10+ years and still stayed an amazing ruler, always starts to become horrible.

That is why I like USA system, they have that presidents rule only 8 year rule and usually the last year of their terms are just like a farewell tour and rarely anything big happens, which is why I think it is quite important that we focus on making sure politicians realize we can take away the power we give them, they think they "earned" that right and start becoming super arrogant and forget that the power we give them will be taken away from them in the end if they are ever too bad, obviously dictators are out of this, because they do not get votes they just declare themselves rulers, unfortunately there are still some nations with dictators.

[bryant.coleman]

Believe me as someone from a nation that had the same politicians for over a decade, I can tell you that no matter how "good" you think a politician is, if you give him power for 10+ years they will become bad, there has never been any politician in the world that ruled over 10+ years and still stayed an amazing ruler, always starts to become horrible.

That is why I like USA system, they have that presidents rule only 8 year rule and usually the last year of their terms are just like a farewell tour and rarely anything big happens, which is why I think it is quite important that we focus on making sure politicians realize we can take away the power we give them, they think they "earned" that right and start becoming super arrogant and forget that the power we give them will be taken away from them in the end if they are ever too bad, obviously dictators are out of this, because they do not get votes they just declare themselves rulers, unfortunately there are still some nations with dictators.

Completely agreed with this. I have visited India very frequently, and I could see what is happening before my own eyes. The ruling party (BJP) was first elected in 2014, and back then people had high hopes about them. During their first term (2014-19), the performance was OK and therefore they were re-elected in 2019. However, the second term is like a horror story. Taxes have been increased to sky high levels and the middle class is really suffocating. Cryptocurrency investors face complete economic ruin, as the government threatens wealth confiscation. Farmers are agitating all across the country. Not a single sector of the economy is doing well right now.

[tygeade]

Indian Economy to grow at 11.5% in 2021 say IMF.
 Is this possible?

Yes. It declined for probably same amount in 2020. all economies will have huge growth their year. But what it really matters is when they will reach level from December 2019. This is important. China is already on those levels. I am sure few other countries also. Most is way below. Also India.

Yeah, getting back to the same level or normality is what determines how quick was the recovery and it might still take some time. I don't know if China has actually reached that level but they do present themselves like they have overcome the problems. But remember even when China was suffering direly with the virus they showed like they haven't been touched by it and things are under control even when they were not, so they often don't let matters in their country expose them.

India might recover from the virus but I don't know when will the virus in their decision making will die as now they are again looking to ban the use and trade of any kind of crypto. I am not entirely sure of this news but I was reading an article and there I saw it recently about bill being worked on to ban crypto.