Basantipur Times: Decoding Making in! Leaked Budget is not Scrapped and would benefit companies to harvest in Bull Run! It is the last Railway Budget? Would it be last Budget too? Palash Biswas

Sunday, February 22, 2015

Decoding Making in! Leaked Budget is not Scrapped and would benefit companies to harvest in Bull Run! It is the last Railway Budget? Would it be last Budget too? Palash Biswas

Decoding Making in!

Leaked Budget is not Scrapped and would benefit companies to harvest in Bull Run!

It is the last Railway Budget?

Would it be last Budget too?

Palash Biswas

Decoding Making in!

Leaked Budget is not Scrapped and would benefit companies to harvest in Bull Run!

It is the last Railway Budget?

Would it be last Budget too?

भारत ने रचा इतिहास, वर्ल्ड कप में पहली बार SA को हराया

नई दिल्ली. इस बार का रेल बजट आखिरी रेल बजट हो सकता है। सूत्रों ने भास्कर को बताया कि अगले वर्ष से केंद्र सरकार रेल मंत्रालय के बजट को आम बजट के तहत ही पेश करेगी। रेल मंत्रालय से ज्यादा बजट वाले दूसरे मंत्रालय हैं, ऐसे में सरकार का मानना है कि केवल रेल मंत्रालय का ही अलग बजट क्यों बने। सरकार रेल मंत्रालय के सबसे ताक़तवर संगठन छह-सदस्यीय रेलवे बोर्ड के पुनर्गठन के लिए नीति आयोग के सदस्य विवेक देबरॉय की अध्यक्षता में एक समिति भी बना चुकी है। रेल मंत्रालय की गिनती केंद्र सरकार के उन गिने-चुने मंत्रालयों में है जो लाभ में हैं।

http://www.bhaskar.com/news-ht/UT-DEL-NEW-the-last-budget-4911940-NOR.html

There should not be any Railway Budget next time.

There should not be any Budget next time.

I wrote last day to the President of India that we cancel exams while question paper is leaked.Why should you not scrap the leaked budget as it would help the desi videshi capital to gain from the BulL Run.

I am in deactivated mode since AAP ousted BJP from Delhi,My email should not reach the President.

Those who read me on blogs and social media do not care to cry aloud.Moreover,there seems to be every space as well as scope of public hearing is lost as the democracy we boast of,has been reduced to free flow of foreign capital.

Indian masses have no common platform to get united.No Solidarity to save the people or the masses.

No solidarity whatsoever!

The leaked budget is going to be presented thanks to Dow Chemicals,Monsanto,United States of America and desi videshi companies.Sell off India continues!

No Mustafa Mian is coming from the streets of Basra of Arabian nights to sew the torn,distorted body of Indian Democracy in thousand parts as our hearts and minds bleed,our bones crushed and every cell we have in anatomy is niometric digital Wi Fi.

Alibaba and no less than four million thieves have taken over the economy.We enjoy most in the US periphery as salves!Eternal Slaves.Hari Katha eternal continues and it is our spiritual identity,the Krama and the Dharma!

Mamata Banerjee declared Kolkata Wi Fi and it helped Reliance to have Spectrum Monopoly in Kolkata.

I live in Panihati suburban which is best known as Sodepur.

Panihati is now Wi FI.

My locality is enhanced as Wi Fi as promoters and builders and Mafia aligned with the political classes seem to eject out the masses belonging to Have Nots on streets.

I have to drink water which I have to buy daily.

My area is Wii Fi and I am deactivated and I may not send a mail.

My blogs have been restricted and my sharing links often blocked robotically in the digital des.

It is Wi Fi after Park Street in Kolkata.

But I may not open net free or browse at will unless i pay the subscription to the concerned service provider.

This is all about Wi Fi.

This is all about Making in for which we, the people of India have to die and the retailers must die,the business and industry should die as Second Green revolution allows only Monasanto for harvesting as for energy we have to depend on nuclear reactors with blooming Bhopal Gas Tragedy again and again without any liability whatsoever.It is making in.

The Parliament has to be presented the Budget which already had been leaked to companies which have major stakes.Every sector has to lose some pound or another pound to enhance FDI Corporate Raj of complete privatization.It is the Man ki Baaten.It is the so much so hyped innovation of killing instinct.

Oil management is linked to Dollar hegemony and private companies have to be paid with dollar.Global prices crushed from 160 the 40 dollars but oil prices in India mean no laodshedding at all.The payment in dollars have to cause zero inflation meaningless farce.

Agrarian Rural India died or committed suicide and those who enjoy the carnival in the cemented Jungle are predestined with the same fate as the Geeta Mahotsav of Muktbazaari Hindutva blitz continues and the regime of sustained identities,sustained Manusmriti Rule,sustained and enhanced caste system, sustained exclusion on the name of inclusion Jan Dhan branded and cash subsidy on Aadhar Card,sustained racial apartheid and economic ethnic cleansing continued. It is making in.

Only some paramour of the elegant Marjina Biwi is caught red handed while other thieves manage the escape avenues and finest square or cover drive or some pull or cut.

Some have ducked the bouncer as they happen to be habitual and the corporate lobbying and corporate funding the phenomenon of the growth saga of projected rating foreign,diluted definition,manipulated scales is all about the Making in vogue with Pandrah Lakh Takia suits to be changed in accordance with occasion,mood and so on.

It is all round auction of the Nation as well as natural resources.

The budget should not be banked for reforms,the Dow Chemicals lawyer announced earlier.

What is the use of this leaked budget of corporate lobbying?

We have to some dreams on sale once again.

We have to see some cash liquidity once again.

We would love to have some cuts in personal tax.

We would have many more PPP projects an Infrastructure boom boom claiming manufacturing master blast.

UPA expenditure on social sector have been withdrawn.New sets of schemes have to be launched to enhance government expanditure.

Then?

It is all about budget making which is nothing else but to justify the Tax forgone and changing tax structure with quotes ranging from growth rate,fiscal deficit and making in innovation.

Then, it is all about the prime minister`s call to push on legislation to open those closed doors and windows which obstruct the free flow of capital.

Then, it is all about the prime minister`s call for political consensus for growth and development meaning reforms, FDI, Disinvestment and Complete Privatization, Open war monopolistic against the Indian people to displace them from Jal Jangal Jameen livelihood job civic and human rights and the environment and the ecology.

Yes, it is going to be yet another turnaround as Dainik Bhaskar reported that Modi Minimum governance is all set to scrap the Railway budget and it would be the last budget.

No Indian citizen seems to be concerned with the Qayamat unfolding,the hell losing!

It is all over World Cup Carnival as India Defeated South Africa in the global circus to win the biggest emerging market.

IPL soap Opera has killed the flow of information as every TV channel skipped the Budget Eve to celebrate India winning.Though we are lost at home.We are crushed under the deep into the earth still saved, the global village.

The vedic ritual performed as it is the Raghukul Reeti chali aai to make the taxpayers and non taxpayers believe how committed is the millionaire billionaire political happens to be as far as the issues of life and death are concerned.

Look! Opposition parties made it clear of taking on the government, particularly on the move to amend the Land Acquisition Act.

Look Anna brigade has launched yet another yatra to protest the legislation.It is not going to be.

The greatest ever dream merchant India ever produced have engaged th youth this night on Budget Eve to communicate his agenda making in and the media as well as corporate lobby with distinction in legislation and policy making have already decoded the making in rather in a amusing exposure of corporate espionage which is also the Raghukul Reeti since 1991 as the children of neoliberal free market taken over the economy,political system, languages, media,genres,medium,society,culture ,everything significant for humanity and civilization.

The Centre is set to face tough times during the budget session of Parliament starting Monday even as it promised to walk the "extra mile" to accommodate the Opposition's concerns and Prime Minister Narendra Modi appealed for cooperation for the benefit of common man.

Mr. Modi underlined at a meeting of all parties in New Delhi that smooth functioning of Parliament should be ensured as the budget session is very crucial and people look at it with lots of hopes and aspirations.

The leaders of all political parties should collectively ensure proper utilisation of time in both Houses of Parliament "so that we can work towards meeting the hopes and aspirations of people", he said about the session during which his government will present its first full-fledged Budget.

"It is the collective responsibility of leaders of all parties to ensure that this session runs smoothly so that the House can fulfill aspiratations of people... Hope we can collectively work for the benefit of common man," Mr. Modi said.

Referring to the various issues that the Opposition is waiting to raise, he told the leaders attending the meeting, "I can assure you that all the issues you have referred to will be discussed adequately and appropriately in order of their priority and importance."

Earlier, the tone for the concilliatory approach was set when Parliamentary Affairs Minister M. Venkaiah Naidu, in an unusual gesture, drove to Congress president Sonia Gandhi's residence to meet her to seek cooperation of the largest opposition party in carrying out the legislative business.

However, the opposition parties appeared to be unimpressed and made clear their mood of taking on the government, particularly on the move to amend the Land Acquisition Act.

Mr. Naidu admitted that some opposition parties expressed reservations against the land ordinance move even as there was "broad consensus" on five other ordinances to be converted into laws.

While describing his meeting Ms. Gandhi as a "cordial" one, Mr. Naidu said she expressed concerns over land ordinance.

the Leader of the Opposition in the Rajya Sabha Ghulam Nabi Azad also said that the Congress will not support those ordinances and bills, which "do not help people".

JD(U) president Sharad Yadav said it will be a "fight to the finish" as he lashed out at the government, saying it had made the land law worse than what existed during the British time.

INLD leader Dushyant Chautala demanded that the proposed bill to convert the land ordinance into a new law should be referred to the Standing Committee of Parliament for a review of the changes brought in the old law by the government.

Mr. Naidu acknowledged that land acquisition is an "emotive issue" and needs to be addressed "sincerely without undue politicisation".

The Parliamentary Affairs Minister said the government is always willing to sit with opposition to resolve differences on any issue. "A spirit of mutual cooperation is required to ensure productive budget session," he said.

"I don't think there is any issue that cannot be resolved with an open mind," he said.

On the land issue, he said State governments, cutting across political spectrum, have expressed difficulties in acquiring land under the provisions of the law of 2013.

"Based on such feedback, the government only wants to facilitate timely acquisition of land and that too for the purposes of infrastructure, affordable housing etc," Mr. Naidu said while justifying the ordinance brought on the issue to amend the law passed during the UPA rule.

"All of you will appreciate that there has been no change in the remuneration to be paid to farmers or the rehabilitation measures to be undertaken for the displaced people," he said.

He said opposition parties have the "legitimate right" to raise their concerns in the matter and the government has the responsibility of addressing their concerns.

"Parliament is the right forum to address such differences between the opposition and the government and to find a way forward... Let us understand each other so that the broader objective of infrastructure and economic development of the country is ensured while protecting the interests of the farmers," said Mr. Naidu, who also holds the portfolio of Urban Development.

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Feb 22 2015 : The Economic Times (Kolkata)

Making Make in India Possible

An ET-Magazine Deloitte study on one of the Modi government's pet projects and what Budget 2015-16 may have in store for it

It's perhaps the most-talked-about amongst I the prime minister's pet projects, along with Smart Cities, Skill India and Digital India. But the `Make in India' initiative, launched in September, assumes significance for its sheer criticality -and ambition. Consider this: the Index of Industrial Production has languished in the past three years, dipping into negative territory in 2013-14, as mega projects got stuck in huge time and cost over runs. The difficulty in getting projects mov ing is reflected in India's abysmal ranking in the World Bank's Ease of Doing Business In dex -142 out of 189 countries.

The government is determined to turn things around. And the Budget will be the ideal starting point for breathing life into the prime minister's dream of making India a world-class manufacturing hub, where both multinationals and Indian corporations make -and make more -in India.

So what can we expect from Budget 2015 16 for Make in India? Perhaps reforms to ease environmental clearances and a move to wards single-window clearances of projects; fresh export promotion policies; and reduc tions in excise duties coupled with exemp tions. Here's Make in India in three parts: The objective, the ground reality, and what needs to be done:

Click To Enlarge

Feb 22 2015 : The Economic Times (Kolkata)

How the FM can Deliver on the Growth Agenda

Girish Vanvari

Make `Make in India' a reality, enhance tax exemption limits and provide clarity in tax laws

Whilst the finance minister may have had a `full inbox' suggesting the key reforms to be undertaken in the upcoming Union Budget from various stakeholders, it will be interesting to see which of the key economic and political developments that have taken place recently will be calibrated in the upcoming Budget. Falling crude oil prices and their impact on the trade deficit, falling inflation and the recent trend of falling interest rates -along with a robust stock market which enables fundraising by disinvestment in public sector undertakings -certainly helps ease the pressure on the government's fiscal balances and gives the FM some room for bolder reforms.

However, the backdrop to the Budget seems to be ever evolving. Brent oil prices have managed to rally back again to over $60 a barrel last week resulting in an increase in fuel prices; the Index of Industrial Production (IIP) numbers released in the second week of February reflect subdued growth; and several corporates have reported falling profits in the December ended quarter. Further, one would need to factor in the political scenario emerging post the Delhi assembly elections.

The need of the hour is to deliver on the growth agenda.

Firstly, the investment cycle needs to be kickstarted. Falling interest rates would help but tax incentives and regulatory reforms would be needed.It is time to make `Make in India' a reality. Steps such as restoring the tax sops for Spec ial Economic Zones (SEZs) by prescribing a zerolower rate of Minimum Alternate Tax (MAT), single-window approvals for registrations and licences, incentives for promoting innovation may be considered to boost manufacturing. Labour laws should be revisited and initiatives to develop the necessary skill sets such as `Skill India' should be put into action.

A revival in consumption (both public and private) would be key to economic recovery.This could be achieved by enhancing applicable deductions and tax exemption limits in a fiscally prudent manner. It would also be desirable to promote savings through the introduction of sector-specific, tax-free investment options for priority sectors such as infrastructure and provide separate exemption limits for the same.Clarity in tax laws and creating a stable tax regime should be addressed so as to restore the confidence of global investors.

The government should provide clarity on issues such as taxation of indirect transfers, applicability of MAT to foreign companies and concessional tax on long-term capital gains on transfer of unlisted securities. Further, the deferment of General Anti Avoidance Rule (GAAR) would also help eliminate the environment of uncertainty.

Another area of focus would be to create a stable transfer pricing regime. One expects the necessary legislative amendments being introduced in the upcoming Budget to operationalise the `rollback' provisions introduced in the last Budget. Also, allowing multiple-year benchmarking as against the application of singleyear data for transfer-pricing adjustments and the range concept for determining the arm's length price is expected to be operationalised.

Considering that India has given its consent to the Organisation for Economic Co-operation and Development (OECD) reports and recommendations under the base erosion and profit sharing initiative, the government may want to consider implementing some of the recommendations relating to transfer pricing documentation and intangibles taxation.

The recent move of the government to not contest the Bombay High Court decision in the case of Vodafone's transfer pricing issue and a subsequent direction by the tax department to the officers to follow this decision hints at a gradual transition towards a non-adversarial tax regime.

It is critical that the government finalises areas surrounding the exemption lists, tax rates, alignment of excise and VAT exemptions and the like at the earliest and the like at the earliest to better prepare the industry to adopt the GST regime.

The question which then could come up is as to where would the money come from to manage the possible fiscal deficit if all of the above expectations are implemented. Whilst falling oil prices certainly help, the possible answer lies in alternative thinking; we need to make the most of the buoyancy on stock markets by making more disinvestments, introducing better expenditure management systems, and more importantly, widening tax bases through better use of technology and reforms such as GST. One should also focus and incentivise public-private partnerships to meet the huge infrastructure needs of the country. Once the economic revival is achieved, tax collections would eventually go up and provide the government with the much-needed funds and narrow the deficit gap.

The author is head of tax at KPMG India.

Krishnan TA, manager, M&A tax, contributed to the article