March 1, 2016 No.9
https://www.facebook.com/mehtarahulc/posts/10153315667751922
Budgets ---- some of the anti-small-business , anti-small-investor steps , and some of fake promises
.
Budgets as such bring unnecessary excitement. All budgets in all countries across world are only inflation adjusted carbon copies of previous years. There are only 2-4 major changes every year.
.
This year, the major changes are
.
1. Taxes on PPF / EFP withdrawal -- details will soon come, and it may get cancelled , given the rage against it. The reason why NaMo is imposing such taxes on EPF is mribe. What is mbribe? Mribe is when paidmediasponors / paidmediaowners offer favorable or unfavorable paidmedia coverage to a Minister , IAS, IPS, judge etc. NaMo is heavily dependnt on sponsors on paidmedia and so what ever sponsors of paidmediamen do, NaMo has to obey. (for more on mribe, please seehttps://www.facebook.com/mehtarahulc/posts/10153256415666922 ). The apex top company owners want middle class to leave PPF / EPF and instead invest in National Pension Scheme = NPS , via which investors have to invest in stock market. So EPF / PPF should be brought down to level of NPS. And so elitemen ordered NaMo to add tax EPF / PPF withdrawals, and NaMo added. such tax. But due to public outroad, NaMo may have to cancel this plan. And middle class which heavily depends on EPF / PPF has no option but to vote for NaMo again in 2019 , despite NaMo creating a huge damage to them. So NaMo has taken good advantage of the fact that middle class has nowhere to go and will put up with any beating.
.
2. Allowing 100% FDI in food processing in name of uplifting farmers --- Amongst huge drum beating on farmer , farmer et., one line item is --- 100% FDI in food proessing. Again, a result of mribe --- the foreigner owned Indian paidmedia has forced NaMo to to allow 100% FDI in food processing business.
.
3. Excise duty of 1% on jewellery -- 1% excise duty on Jewellry will kill many midsize businesses in this aear as compliance with excise is a real pain in neck. Also less wait for the details. Is 1% excise on TOTAL value of jewel or value of jewel minus cost of raw gold ? Because if value of gold is included, then it means death to many small jewellery makers !! Because many times, TOTAL profits are below 2% of whole jewel including cost of gold. So if excise is 1%, then it will almost become 50% of gross revenue in jewellery making business !!! Lets see details
.
4. Employment promises --- we have seen that in every budget. They are dime a dozen. Real industrial employment is decreasing in India , and solution is to make factory owners' lives easy. That can be done by wealth tax on land minus income tax, because that will bring land prices down. And removing VAT / GST / excise and 10s of types of cesses. And putting Jury Trials on ALL labor disputes, NaMo doesnt have strength to implement wealth tax or Jury System. So industries will never rise in India, except FDI based industries. And so real industrial employment will remain low.
.
5. Tax exemptions to companies which invest in GIF city, Gujarat !!! --- This is most ridculous of all. If a company invests in GIFT City Gujarat, then it becomes eligible for numerous tax exemptions !!! Seewww.rediff.com/…/budget-goodies-for-gift-city-…/20160111.htm andindianexpress.com/…/budget-2016-boost-for-gift-city-msmes-…/ .
.
6. Time pass on Organic Food – If government have real intention to reduce chemical pollution in food, then they would have reduced the subsidy on chemical pesticides. This will also reduce cancer. Here promising organic food on 5 lac hector land is time-waste.
.
7. NAREGA --- waste of money.The rural poverty is areal problem and solution is DDMRCAM i.e. Direct Deposit of Mineral Royalties Citizens' Accounts and Military. Loopholes in NAREGA has reduced due to Aadhar Cards. But NAREGA is frain in economy because it pushes labor hours on useless work.
.
===
.
NaMo has continued brazen nefarious tax exemptions for super rich like Mauritius route, SEZ exemptions etc. And above all, NaMo did a huge favor to land hoarders by completely removing wealth tax last year. ManY insisting on blaming Jetley ONLY and insist that NaMo is bechara bhola bhala and innocent. Well, all budget decisions were taken by NaMo. And the real reason is pressure from media sponsors, The paidmedia sponsors has created a good image of NaMo by supressing issues like goraksha and raising issues like JNU (in which NaMo will obviously emerge as winner). But if paidmediamen raise issue of goraksha, then NaMo will lose a lot. So NaMo has no option to obey what paidmedia sponsors say. And so we see decisions like taxing EPF withdrawals, 1% excise of jewellery etc.
.
All in all, this is more UPA than UPA !!
.
So all in all, budgers are not supposed to or required to bring an ocean change. Each budget is an inflation adjusted carbon copy of previous year ONLY. Some policy level changes do come. And this time, policy level changes are similar to ones we saw in UPA govt. And some changes like tax on EPF and 1% excise on jewelleries are much worse.
https://www.facebook.com/mehtarahulc/posts/10153315667751922
Budgets ---- some of the anti-small-business , anti-small-investor steps , and some of fake promises
.
Budgets as such bring unnecessary excitement. All budgets in all countries across world are only inflation adjusted carbon copies of previous years. There are only 2-4 major changes every year.
.
This year, the major changes are
.
1. Taxes on PPF / EFP withdrawal -- details will soon come, and it may get cancelled , given the rage against it. The reason why NaMo is imposing such taxes on EPF is mribe. What is mbribe? Mribe is when paidmediasponors / paidmediaowners offer favorable or unfavorable paidmedia coverage to a Minister , IAS, IPS, judge etc. NaMo is heavily dependnt on sponsors on paidmedia and so what ever sponsors of paidmediamen do, NaMo has to obey. (for more on mribe, please seehttps://www.facebook.com/mehtarahulc/posts/10153256415666922 ). The apex top company owners want middle class to leave PPF / EPF and instead invest in National Pension Scheme = NPS , via which investors have to invest in stock market. So EPF / PPF should be brought down to level of NPS. And so elitemen ordered NaMo to add tax EPF / PPF withdrawals, and NaMo added. such tax. But due to public outroad, NaMo may have to cancel this plan. And middle class which heavily depends on EPF / PPF has no option but to vote for NaMo again in 2019 , despite NaMo creating a huge damage to them. So NaMo has taken good advantage of the fact that middle class has nowhere to go and will put up with any beating.
.
2. Allowing 100% FDI in food processing in name of uplifting farmers --- Amongst huge drum beating on farmer , farmer et., one line item is --- 100% FDI in food proessing. Again, a result of mribe --- the foreigner owned Indian paidmedia has forced NaMo to to allow 100% FDI in food processing business.
.
3. Excise duty of 1% on jewellery -- 1% excise duty on Jewellry will kill many midsize businesses in this aear as compliance with excise is a real pain in neck. Also less wait for the details. Is 1% excise on TOTAL value of jewel or value of jewel minus cost of raw gold ? Because if value of gold is included, then it means death to many small jewellery makers !! Because many times, TOTAL profits are below 2% of whole jewel including cost of gold. So if excise is 1%, then it will almost become 50% of gross revenue in jewellery making business !!! Lets see details
.
4. Employment promises --- we have seen that in every budget. They are dime a dozen. Real industrial employment is decreasing in India , and solution is to make factory owners' lives easy. That can be done by wealth tax on land minus income tax, because that will bring land prices down. And removing VAT / GST / excise and 10s of types of cesses. And putting Jury Trials on ALL labor disputes, NaMo doesnt have strength to implement wealth tax or Jury System. So industries will never rise in India, except FDI based industries. And so real industrial employment will remain low.
.
5. Tax exemptions to companies which invest in GIF city, Gujarat !!! --- This is most ridculous of all. If a company invests in GIFT City Gujarat, then it becomes eligible for numerous tax exemptions !!! Seewww.rediff.com/…/budget-goodies-for-gift-city-…/20160111.htm andindianexpress.com/…/budget-2016-boost-for-gift-city-msmes-…/ .
.
6. Time pass on Organic Food – If government have real intention to reduce chemical pollution in food, then they would have reduced the subsidy on chemical pesticides. This will also reduce cancer. Here promising organic food on 5 lac hector land is time-waste.
.
7. NAREGA --- waste of money.The rural poverty is areal problem and solution is DDMRCAM i.e. Direct Deposit of Mineral Royalties Citizens' Accounts and Military. Loopholes in NAREGA has reduced due to Aadhar Cards. But NAREGA is frain in economy because it pushes labor hours on useless work.
.
===
.
NaMo has continued brazen nefarious tax exemptions for super rich like Mauritius route, SEZ exemptions etc. And above all, NaMo did a huge favor to land hoarders by completely removing wealth tax last year. ManY insisting on blaming Jetley ONLY and insist that NaMo is bechara bhola bhala and innocent. Well, all budget decisions were taken by NaMo. And the real reason is pressure from media sponsors, The paidmedia sponsors has created a good image of NaMo by supressing issues like goraksha and raising issues like JNU (in which NaMo will obviously emerge as winner). But if paidmediamen raise issue of goraksha, then NaMo will lose a lot. So NaMo has no option to obey what paidmedia sponsors say. And so we see decisions like taxing EPF withdrawals, 1% excise of jewellery etc.
.
All in all, this is more UPA than UPA !!
.
So all in all, budgers are not supposed to or required to bring an ocean change. Each budget is an inflation adjusted carbon copy of previous year ONLY. Some policy level changes do come. And this time, policy level changes are similar to ones we saw in UPA govt. And some changes like tax on EPF and 1% excise on jewelleries are much worse.
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