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Old March 16th, 2012, 06:44 PM   #161
MeMumbaikar
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which is why i said so so

no big ticket reforms


and i dont blame the congress for that. Their allies to blame.


5.5/10


this budget would be fine if the world economy was not in the state it is today. Its average considering the threats India is facing.
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Old March 16th, 2012, 06:54 PM   #162
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Some of the disappointments were:-



2) No negative list for services.
I remember hearing him talk abt Negative list for services except for 17 services.

Edit: BUDGET FY13: Govt proposes negative list-based service tax regime in FY13
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Old March 16th, 2012, 08:33 PM   #163
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Disappointing budget, as expected. Just tinkering on the margins and no big ticket reforms. It's laughable to see finance ministers every year micromanaging tax rates on hundreds of items - most of the budget is spent on just that. What a waste!

I had low expectations from this govt, and they met those low expectations. Of course they'd blame the allies for lack of any reforms. It would be naive to believe that in my opinion.

This was the only opportunity for this govt to do something before the next elections, and they squandered it. It will only get tougher from this point. Next budget, being the last one by this govt, is guaranteed to be hugely populist.

Unfortunately, this means no hope for any major improvement in GDP growth over the next 2 years.
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Old March 16th, 2012, 09:41 PM   #164
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3) no clear road map for FDI in aviation & FDI in retail.

4) Extending disinvestment proceeds for social scheme is not a good idea IMO.
Could you explain 4 & 5 please. FDI in aviation requires legislation.
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Old March 17th, 2012, 04:43 AM   #165
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SRC : http://www.thehindu.com/news/article...ce?viewImage=2

Last edited by karkal; March 17th, 2012 at 04:25 PM.
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Old March 17th, 2012, 11:19 AM   #166
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Could you explain 4 & 5 please. FDI in aviation requires legislation.
he said that they were discussing FDI in aviation, i mean budget can be a platform to announce legislative decision.
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Old March 17th, 2012, 02:00 PM   #167
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http://profit.ndtv.com/News/Article/...ax-laws-299836

I am impressed with the move that India planning to claw back the tax avoidance from corporate..! While you are squeezing every penny from normal middle class people in form of taxes and then why not from super rich companies...

Recently the same retrospective law has been passed here in UK to get back 500m from Barclays....
Are you kidding me? This is probably the most retrograde aspect of this budget. Retrospective laws are banned in many common law countries, and for good reason. In the US, it is considered so unfair, that the Constitution expressly forbids it!

Imagine, you can live your life (as an individual or corporation) playing by the rules and the govt can come in, change the laws/rules retrospectively and punish you for breaking the law. I can't imagine anything more unjust! How would you feel if govt retrospectively raised your tax rate, or disallowed some legal deductions you took, and demanded massive extra taxes for past years?

Of course, the Indian govt doesn't give a shit about justice and fairness. The Vodafone tax demand, that this retrospective law is supposed to allow, was ridiculous on so many fronts, that it would be unimaginable in most countries. Anyway don't mean to digress to much, so won't go into the details.

This retrospective law would be make foreign investors/companies think twice before investing in India. One reason some preferred India to China was that at least India had a decent justice system that, even though slow, worked somewhat (at least much better than the executive and legislative branches of the govt!). The Vodafone case reaffirmed that belief. But the Indian govt is taking away that sliver of advantage as well by this rule change.

I'm not too surprised though. This Congress govt would stoop to any level to get its way. Throughout its history since independence, Congress has embodied the philosophy of "mai baap sarkaar", where the govt is super powerful and its citizens (specially poor) are kept completely dependent on its doles/handouts. If that is its mindset towards its own citizens, no wonder it treats foreigners the same way.
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Old March 17th, 2012, 04:21 PM   #168
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SRC : http://www.thehindu.com/business/mar...cle3002555.ece
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Old March 17th, 2012, 06:30 PM   #169
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SRC : http://www.thehindubusinessline.com/...cle3002285.ece
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Old March 19th, 2012, 08:49 PM   #170
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it was the 5th crap budget in a row.....
jesus.
sell the loss making PSU's, inc railways.
slash import duty.
Give tax sops for FDI.
DOH , allow FDI
Fast track rural EEZ with 110% compensation for dislodged land owners.
Just get on with it for fucks sake.
its a bloody no brainer.
reform the courts.
introduce ID card.
expand the tax base.
sack some babus
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Old March 19th, 2012, 09:29 PM   #171
think-tank
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aaaaahh whats that?... don't ruin my topic.
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