The governance is all about apartheid practiced by the patriarchal hegemony!
Pardon,not your faith whatsoever, faith of the investors is the topmost priority in the Hindu Nation!
The RTI application filed by PM Modi's wife Jashodaben means so many things if we have the heart,mind and senses of a human being beyond politics of billionaires and millionaires in the patriarchal system of inherent manusmriti discipline.
The RTI application filed by PM Modi's wife Jashodaben means so many things if we have the heart,mind and senses of a human being beyond politics of billionaires and millionaires in the patriarchal system of inherent manusmriti discipline.
Pardon,not your faith whatsoever,faith of the investors is the topmost priority in the Hindu Nation!
Billionaire class is engaged in enacting laws afresh to ensure the sustenance of the Bull Run which is the post modren neo Nazi zionist as well as global Hindutva culture and incidentally,it has to be noted that it banks on aparteid.In India,we live with caste,linguistic,religious and regional identities and happen to be most ignorant about the roots of social realities and the consequences we happen to be predestined as holy scripts explain.
The topmost priority is to sustain the bull run and it is all about the appeasement of the the foreign investors.Thus,The Narendra Modi government, which has promised big reforms in its first budget, is looking to push the Insurance Bill as well as the Goods and Service Tax Bill in the month-long winter session that begins today.
How alarming is the situation just feel as the two major railway unions have proposed to the government an unprecedented alternative to privatisation or inviting foreign investment, to help raise funds and improve revenue.
The National Federation of Indian Railwaymen (NFIR) and the All India Railwaymen's Federation (AIRF) had both been demanding an end to the government's opening of the carrier. Now, they have both offered the Rs 10,000-crore provident fund (PF) deposits of rail workers for development of the cash-short carrier, also the country's largest single employer.
"We have proposed using the PF balances of the 13.1 lakh workers and 12 lakh retired personnel," M Raghavaiah, general secretary of NFIR, told Business Standard. "We can convince the workers on depositing this money with the railways on an interest basis, rather than keeping it in bank accounts."
NFIR says it represents a little over a million of the 1.3 million workers. And, sees its idea as an attempt to "save the country and Indian Railways from the onslaught of foreign direct investment (FDI) and privatisation in the name of public-private partnership (PPP)".
Here is a list of 37 bills listed for the session:
I Bills for Introduction, Consideration and Passing:
The Coal Mines (Special Provisions Bill), 2014 - To replace an Ordinance
The Textile Undertakings (Nationalization) Laws (Amendment and Validation) Bill, 2 014 - To replace an Ordinance
The Delhi Special Police Establishment (Amendment) Bill, 2014
II Bills for consideration and passing:
(A) Bills pending in Lok Sabha
The Indian Institutes of Information Technology (IIIT) Bill, 2014
The Central Universities (Amendment) Bill, 2014
The Repealing and Amending Bill, 2014
The Constitution (Scheduled Castes) Orders (Amendment) Bill, 2014
(B) Bills pending in Rajya Sabha
The Anti Hijacking (Amendment) Bill, 2010
The Insurance Laws (Amendment) Bill, 2008 -With Select Committee
The Tamil Nadu Legislative Council (Repeal) Bill, 2012
The Rajasthan Legislative Council Bill, 2013
The Assam Legislative Council Bill, 2013
The Apprentices (Amendment) Bill, 2014 as passed by Lok Sabha
The Labour Laws (Exemption from furnishing Returns and Maintaining Registers by certain Establishements) Amendment Bill, 2011
The Merchant Shipping (Amendment) Bill, 2013
The Merchant Shipping (Second Amendment) Bill, 2013
The Delhi Hotel (Control of Accommodation) Repeal Bill, 2014
The Real Estate (Regulation and Development) Bill, 2013
III Bills for Introduction:
The National Co-operative Development Corporation (Amendment) Bill, 2014
The Warehousing Corporations (Amendment) Bill, 2014
The Payment and Settlement Systems (Amendment) Bill, 2014
The Regional Rural Banks (Amendment) Bill, 2014
The Biomedical and Health Research (Regulation) Bill, 2014
The Recognition of New Systems of Medicine Bill, 2014
The Assisted Reproductive Technology (Regulation) Bill, 2014
The School of Planning and Architecture Bill, 2014
The Readjustment of Representation of Scheduled Castes and Scheduled Tribes in Parliamentary and Assembly Constituencies Bill, 2014
The Repealing and Amending (Second) Bill, 2014
The Appropriation Acts (Repeal) Bill, 2014
The Lokpal and Lokayuktas (Amendment) Bill, 2014
Public Premises (Eviction of Unauthorised Occupants) Amendment Bill, 2014
The Constitution (One Hundred and Fifteenth Amendment) Bill, 2014
IV Bill for Withdrawal:
The Indian Medicine and Homeopathy Pharmacy Bill, 2005
The Homeopathy Central Council (Amendment) Bill, 2005
The Indian Medicine Central Council (Amendment) Bill, 2005
The Higher Education and Research Bill, 2011
The Readjustment of Representation of Scheduled Castes and Scheduled Tribes in Parliamentary and Assembly Constituencies (Third) Bill, 2013
V Financial Business
The Appropriation Bill relating to Supplementary Demands for Grants (General) for 2014-15
VI Non Legislative
Consideration of Resolution to reject the award given by the Board of Arbritation on 18-10-1999 to upgrade the Pay Scale for the post of Computer (now Compiler) w.e.f 01-05-1982 at par with the Investigators of national Sample Survey Organisation & UDCs of National Tuberculosis Institute, Bangalore w.e.f 01-05-1982
For example,just see someone like Ms Irome Sharmila,on hunger strike for fifteen full years as we feel no heartbreak to see naked motherhood projected and hyped by day to day newsupdtaes in a patriarchal society.
Just tell me how do you feel reading this as Social activist Irom Sharmila on Friday condemned the racist attacks against people from northeast staying in Delhi, NCR and Bengaluru!
Ms. Sharmila on Friday said that she was pained by the increasing number of racist attacks on people from northeast and felt that the authorities concerned were not doing enough to protect the people hailing from the region.
Referring to her arrest and detention in judicial custody, Ms. Sharmila said she was using democratic means to achieve her goal. She was re-arrested on charges of attempt to commit suicide. The court has ordered her next appearance on December 1.
A former journalist and social activist, Ms. Sharmila had launched her fast unto death on November 2000 after Assam Rifles killed 10 persons at Malom area in an alleged encounter with insurgents.
Meanwhile,the US today said it is "cautiously optimistic" of reforms being undertaken by the new Indian government even as it termed steps like raising FDI cap in defence and railways as positive signs.
"We have already seen some positive signs: projects approved, foreign equity caps in key sectors such as defence and railways lifted. But we have also seen certain tariffs increased, and there is a long way to go on reform," US Trade Representative Michael Froman said here.
"So, we are optimistic, but we are cautiously optimistic. There remains great potential for further liberalisation, structural reform and the facilitation of business. And we look forward to addressing that agenda in the Trade Policy Forum as well," he said.
The US-India Trade Policy Forum (TPF) is a government-to-government trade dialogue aimed at increasing bilateral investment between the two nations.
Froman will co-chair the Trade Policy Forum along with Commerce and Industry Minister Nirmala Sitharamantomorrow.
The new government has hiked the FDI cap in defence to 49 per cent and liberalised the FDI policy for the railways.
Froman also said the bilateral trade has increased to USD 100 billion, five-fold since 2001 and that has supported thousands of jobs.
"...But still there has been incredible amount of opportunities that is waiting to be unlocked," he said.
Meanwhile, US India Business Council (USIBC) and AMCHAM said resumption of the Trade Policy Forum represents another important step towards strengthened trade relations between the US and India.
Stating that it is in India's interest to have a strong and world class IPR regime, the USTR said patents, trademarks, piracy, counterfeiting, compulsory licencing are "challenging issues and dealing with them directly is critical if India has to play a leadership role in the knowledge economy" and also to become a digital India.
"It is very much in US interest that India succeeds...The question is what can we do through our engagements in trade and investments to support these objectives," he said, adding that "incentivising life-saving innovations and promoting affordable access to quality healthcare and safe medicine will benefit all Indians and Americans. Indeed, India is home to many innovative ideas for delivering cost-effective healthcare".
The month-long winter session of parliament starting Monday is crucial for Prime Minister Narendra Modi's Bharatiya Janata Party government, to prove it can deliver reforms to reverse the sagging economy and silence critics who say the first sixth months in power have failed to live up to expectations.
Mr. Modi came to power in May with the largest mandate of any party in India in 30 years.
The parliamentary session – scheduled between November 24 and December 23 – has 22 working days and a heavy legislative agenda. Some 37 bills are up for debate ranging from land reforms and tax policies to boost manufacturing to the passage of the long-delayed goods and services tax and insurance reforms. The government also plans to revoke hundreds of pre-independence laws that have lost relevance.
Mr. Modi on Sunday told an all party meeting ahead of the opening of parliament's session Monday that 'the Government will walk the extra-mile to accommodate the concerns and suggestions of all parties to enable smooth functioning of both the Houses of Parliament.'
Finance Minister Arun Jaitley has said previously that the government has "clearly prioritized" most reforms.
"I have always believed that some reforms are easily possible. For next few months, we have our plates reasonably full," he said during a news conference last week.
India's Parliamentary Affairs Minister M. Venkaiah Naidu said the government "will go the extra mile to accommodate the opposition" on debates related to contentious bills.
The Congress party has been denied the status of the leader of opposition in the lower house of Parliament, the Lok Sabha, having failed to win at least 10% of the 545 seats in the house, to get the position. It only won 44 seats in national elections this spring. The ruling BJP has 282 seats in the lower house.
However, the BJP doesn't have a majority in the 250-member upper house, the Rajya Sabha, with just 43 seats and will need to rely on the Congress party with 68 seats, to push through several key bills.
Here's a snapshot of the government's legislative agenda for the winter:
The Constitution Amendment Bill 2011 or GST Bill - The bill seeks to amend the Constitution to allow for the introduction of a uniform, national goods and services tax. If passed, it will be the country's biggest tax reform in years.
The implementation of GST has been opposed by some states as they are reluctant to surrender their right to impose such taxes. For instance, some have objected to the inclusion of petroleum products and liqor – the major sources of revenue – in the proposed GST – as the move would severely affect their revenues.
The Insurance Laws (Amendment) Bill, 2008 – The bill would raise the limits on foreign investment in the sector from 26% to 49% and also formulate rules to permit foreign firms to invest in reinsurance companies, which are usually firms that insure insurance companies. The bill was initially introduced in Rajya Sabha in December 2008 and later referred for re-assessment to a special committee, which submitted its report in Dec. 2011. During the most-recent parliamentary session in August, Mr. Modi's government tried to clear the bill but failed due to lack of consensus with opposition parties.
The Coal Regulatory Authority Bill, 2013 – The bill seeks to set up an independent regulator for the coal industry to monitor the supply and pricing of fuel in an effort to further liberalize the sector and reduce state monopoly. The Cabinet in June last year approved the draft bill to set up a coal regulatory authority.
The Central Universities (Amendment) Bill, 2014 – The bill seeks to establish one more central university in Bihar and rename the existing one to give a boost to the quality of higher education in the state. The bill was introduced in the Lok Sabha in August.
The Indian Institutes of Information Technology Bill, 2014 – The bill is meant to grant statutory backing to four out of India's 11 Indian Institutes of Information Technology to bring them on equal footing with central universities in awarding degrees and diplomas to their students in the academic courses conducted by these institutes. It was introduced during the last parliamentary session in August.
The Lokpal and Lokayuktas Bill, 2011 – The bill proposes setting up an independent anti-corruption ombudsman at the national level with parallel anti-graft agencies in the states. The bill was passed by the Rajya Sabha in December last year. The bill now needs to be presented to the Lok Sabha for a final approval on amendments made in the other house.
The Anti-Hijacking (Amendment) Bill, 2010 – The bill proposes death penalty and other strict punishment for those who unlawfully or by force seize an aircraft. The bill was introduced in Rajya Sabha in 2010. It is likely to come up for discussion during the current session.
The Repealing and Amending Bill, 2014 – The bill seeks to remove certain archaic laws and amendment acts from the statute books as they have outlived their utility. The bill was taken up for discussion in Lok Sabha during the last parliamentary session in August. It is currently pending.
Some of these outdated laws include — the Treasure Trove Act of 1878 which requires anyone who finds treasure worth more than ten rupees to inform the tax collector; the Post Office Act of 1898 which states that only the government has the right of "conveying by post, from one place to another" most letters and the Police Act of 1861 which lays down that all police officers are supposed to remove their caps in the presence of royalty.
Now,read the media coverage on the RTI application filed by PM Modi's wife Jashodaben!
Prime Minister Narendra Modi's estranged wife, Jashodaben, has filed an RTI application asking for an explanation of the sort of security that she gets from the government.
After Mr Modi was elected in May, Jashodaben was given round-the-clock security; she is protected by 10 commandos, five per shift, provided by state government. (Also Read: If He Calls Me Once, I Will Go With Him, Says Narendra Modi's Wife)
In her three-page application, Jashoda Chiman Modi, a retired school teacher who lives in Brahmanwada village of Unjha town of Mehsana district, has said, "I am the wife of the Prime Minister and as per protocol, I seek details on what other facilities other than security cover I am entitled to…I should be provided a certified copy of the order under which security is provided to Prime Minister Narendra Modi's family members, brothers, sisters and me."
She has also stated, "I travel by public transport while my security personnel travel in official vehicles."
Her application states, "Given that former Prime Minister Indira Gandhi was assassinated by her security guards, I am frightened by the presence of the security cover. So kindly provide me all details about the security personnel provided to me."
In April, Mr Modi for the first time publicly declared that he is married – he had not commented before that on reports that he had an arranged marriage when he was 17. In election papers declaring him a candidate for Parliament, he wrote the name "Jashodaben" in a column regarding his marital status. He had left the column blank on previous occasions, including in the last Gujarat state election in 2012.
The Congress party had said that Mr Modi's failure to acknowledge his marriage suggested that he does not respect women.
Jashodaben told a newspaper in February this year that Mr Modi left her after three years, during which they spent some three months together; she said they parted amicably.
On the other hand,nevertheless,India has the potential to achieve 9% growth rate and become a $10 trillion economy by 2034 on the back of concerted efforts by the corporate sector and a constructive role played by the government, a PwC report said today.
"India is on the cusp of major change... For India to take the winning leap and grow its GDP by 9% per annum to become a $10 trillion economy, a concerted effort from corporate India, supported by a vibrant entrepreneurial ecosystem and a constructive partnership with the government will play a critical role," said the PwC report, 'Future of India - The Winning Leap'.
Up to 40% of India's $10 trillion economy of 2034 could be derived from new solutions, it said.
The report added, however, that the Winning Leap should not be limited to a new approach of solutions but rather needs to be seen as a play-top-win mind set.
"The world economic picture is pretty challenging in the next 12-18 months. Having said that we are talking about all the opportunities that are here in India and they are significant," PricewaterhouseCoopers (PwC) International Ltd Chairman Dennis Nally said after releasing the report.
"I think with the right type of collaboration between government and private sector, the potential of this economy is much bigger than 5% that is currently forecasting," he added.
The report said that each of the key areas -- education, healthcare, agriculture, retail, power, manufacturing, financial services, urbanisation and the enabling sectors such as India's digital and physical connectivity -- face challenges and their resolution will need new and scalable solutions that are resource efficient and environmentally sustainable.
It emphasised upon the need to tap into the vast human resource capital available in the country and the Human Development Index (HDI) needs radical improvements over the next two decades.
"A young demographic, paired with a burgeoning middle- class that is digitally enabled, is a once in a lifetime opportunity for India to develop economically and socially. India can only build shared prosperity for its 1.25 billion people by transforming the way the economy creates value," Nally said.
Nifty above 8,500: Newton's law suggests bull market will continue in 2015
The trajectory of the current bull market is still upwards. it will take a flop budget and political reverses for the BJP to change the positive sentiment
This much is certain from Newton's first law of motion, which says that an object at rest will remain stationary and an object in motion will continue moving in the same direction and speed unless stopped or slowed by another force. Right now, the forces acting in favour of the Sensex and Nifty rising are stronger than those acting against it. Hence the trajectory remains northwards.
The forces pushing the indices to new highs are essentially global liquidity, driven primarily by foreign institutional investors (FIIs), political stability at the centre, steady improvements in the domestic business climate, the prospect of reforms, improving data on wholesale and retail inflation, and the Reserve Bank's high credibility, both as an inflation-fighter and for its adroit moves on the management of India's forex reserves and the value of the rupee. To this we can add prospects of improved corporate earnings next year, and the possibility of a turn in the investment cycle, too.
As against this, the factors which could play spoilsport are primarily two: a world heading back to recession (or even deflation), and the inability of the Modi government to push reform bills as the opposition is uniting to prevent the passage of crucial legislation in the Rajya Sabha.
Let's take each one of them and assess the possibility of a reversal.
FII money:Mint newspaper says today that FII inflows into equity and debt in 2014 will top $40 billion – the highest ever. Of this, the greater proportion (60 percent) has gone into debt. Will these flows suddenly cease or reduce? Unlikely, for the betting is that interest rates will have to start falling sooner or later. Once they do, FIIs could shift money from debt to equity, but this process will not happen all of a sudden. Also, if rates fall, that is a reason to invest in equity. With the world facing the problem of recession and weak inflation, most central banks will not stop printing money in a hurry. On balance, thus, FIIs are unlikely to suddenly start taking their money out, especially when other emerging markets look less enticing.
Political stability, reforms and business climate: These factors are related. As long as Modi and the BJP keep accumulating political capital in various state elections, confidence in reforms and governance will keep improving. It is obvious that the big shift in investor and corporate mood after mid-2013 came with the prospect of a change in government in May 2014. While no big bang reforms have been announced by the Modi government, this has been cushioned by a benign global environment which has enabled the deregulation of diesel and (possibly) LPG. Subsidies are coming down, and fiscal space is being created for government spending to resume next year so that the investment cycle can revive.
The political choice before Modi and his finance minister is: incremental reform or big bang. If it is the former, the market will correct after the February budget before resuming its secular Newtonian uptrend. If it is the latter, the market will head for 35,000-40,000 on the Sensex by 2015-end.
Inflation trajectory: Both wholesale and retail inflation are trending down, the former more than the latter, because of benign global commodity prices and moderated food procurement price increases, among other things. In a global scenario where China has cut rates unexpectedly due fear of falling growth, and where both Europe and Japan are planning a flood of liquidity to shore up growth and avoid deflation, clearly the macro problem outside India is not inflation, but deflation. This means commodity prices may stay benign – and this is better for India than soaring oil prices since we are huge net importers of commodities. It is unlikely that India will suddenly catch high inflation when the global trend is downwards.
The RBI's stellar act: The central bank under Raghuram Rajan has been a pillar of strength for the Indian economy because he has not been stampeded into cutting rates prematurely. Nor has he allowed the rupee to appreciate wantonly. Given the volume of FII flows, the rupee should have appreciated to 57-59 to the US dollar, but it is at around 61.75 (as in mid-morning trades 24 November). Rajan's RBI has prevented a rupee spike by buying dollars – and the forex reserves (over $315 billion as of 14 November) reflect this. Rajan's policy is driven by two objectives: preventing an exchange rate shock by keeping the rupee depreciating steadily just in case the US starts raising interest rates and capital flows temporarily reverse (the rupee's normal depreciation rate is about 5-7 percent per annum). The second objective is to keep returns on debt positive with relatively high rates. This ensures that FII investments in debt remain attractive even while promising lower inflation. Rajan has ensured that there will be no sudden exit of FII money in the foreseeable future – which means up to mid-2015 at least – no matter what the US Fed does.
The downside risks to the market can be summed up in one word: politics. If Modi is seen to be losing political traction by unexpected reverses in some state assembly elections, and/or if the opposition manages to stall major reforms in the Rajya Sabha, the markets will obvious start correcting to adjust for slower reforms. But this will be obvious only around the time of the budget in February, and by then we will know what happens in J&K, Jharkhand and, most importantly, in Delhi. Equally important, how Modi manages the Shiv Sena in Maharashtra will be crucial. If laws have to be passed by holding a joint session of parliament, the Sena's 18 MPs will be crucial.
The balance of risks is thus still in favour of a market rising at least till February, followed by a correction, and a revival again in the second half of 2015 when rates start falling.
An Economic Times investment roundtable featuring Nilesh Shah of Axis Capital, ace stockbroker Ramesh Damani, Prashant Jain of HDFC Mutual fund, Sankaran Naren of ICICI Prudential Mutual Fund, Shankar Sharma of First Global and Pankaj Vaish of Citibank (head of south Asia markets), buttressed this optimism today.
Jain pointed out that "in the last three or so bull markets, the markets have never peaked below PEs (price to earnings ratio) of 25 times… this time we are still at 16-plus PEs right now." This means there is adequate headroom for the indices to rise. Naren sees an additional positive: "there is very little competition from other emerging markets" for global funds, "unlike in the 2002-07 cycle."
But it isn't also only FII money driving stocks. Nilesh Shah told the roundtable that between SIPs (systematic investment plans) and bulk money flowing into mutual funds, over Rs 30,000 crore is available for investment (in both equity and debt). Pankaj Vaish said next year should see the indices rising 20 percent.
Net-net, the markets continue to be in a sweet spot and it will take a lot of political failure to neutralise that. Newton's law is still in favour of a bull market in 2015.