Indian Economy: News and Discussion

[ezsasa]

On a serious note, there are whatsapp messages circulating that if fuel is brought under GST, then prices will drop. Some say that drop might be as high as 16 rs. Though whatsapp messages may not be 100% correct, there might be some truth to it.


Gurus, please shed some light on advantages and disadvantages of bringing fuel under GST.

Here you go!!!, break up of petrol price. roughly 35 rupees out of 72 Rs seems to be tax(central + state)
http://www.mycarhelpline.com/index.php?option=com_latestnews&view=detail&n_id=417&Itemid=10

 

[HariPrasad-1]

We need to do the math on this. While going to a locally sustainable seems great, the money might be better spent on a central facility. Just my 2 paisa.

Making small units self sufficient will be easier once we integrate complex 3d printing into our industries. One thing I have to say is that urbanization is unavoidable. In any modern economy only 5% of people will be in agriculture. Now, I agree that we can't have hundreds of millions of people flooding our already overcrowded cities. The solution is to build hundreds if not thousands of small smart towns, which will all be interconnected by good infrastructure. These towns can be hubs of all sorts of MSME's similar to the German Mittelstand concept.

Hi Guys, Let me give you some small examples.

You guys will perhaps agree that agriculture and animal husbandry are the are where most of our people earns their livelihood. How much money have we spent on R & D to improve the race of our pet animal. cow milks quantity is shrinking day by day. Many highly industrialized countries like Israel who hardly need agriculture for either income or as employment spend a lot of Agriculture research. It is very unfortunate that some people like Baba Ramdev has to do research to improve the breeds of cow. We have a legacy of organic farming but we killed it and as a result Agriculture became very costly with chemical fertilizers insecticide. We actually do not need it at all, Had our governments spent some money on these research, our masses would have been much wealthier. There are some area in our country where farmers have became millionaire just by selling tomato. Unfortunately, all these has become either individual effort or community effort without any contribution from government.

We need to spend money on basics. When Anna Hazare started his movement from his village, it was a dry and poor village. Today it is a lush green town with many orchids selling fruits and earning millions. We unfortunately could not replicate these successes on massive scale. We have hundreds of channels but not a single dedicated agriculture channel. We need a massive tree plantation and water conservation moments to be run on mission bases. If our masses has money, it will generate a massive demand in economy which shall boost our economy like anything. It is very unfortunate that we want to be a great nation with hungry people.
I am extremely happy that the first time the focus of government is predominantly on rural and agriculture sector. We need to spend massive amount in agriculture sector and in rural area for atleast a decade to uplift our masses from poverty and bring them in main stream.

 

[HariPrasad-1]

Price of fuel will reduce even if it is placed under the highest GST slab of 28%. Currently ( VAT + exercise) is way higher.

On the flip side, state governments may suffer revenue loss. State finance ministers will realize that petroleum products can't continue as milch cows. So to compensate they may increase tax on other products like alcohol etc.

But that will make many state bankrupt. State and center will get just 5 rs tax instead of 18 and 15 Rs they collect per liter. Better we should keep it around Rs 65 by adjusting the excise duty and state tax.

 

[tsunami]

But that will make many state bankrupt. State and center will get just 5 rs tax instead of 18 and 15 Rs they collect per liter. Better we should keep it around Rs 65 by adjusting the excise duty and state tax.

I read somewhere that every rupee tax cut will result in approx 12000 Cr of revenue for the Central Govt.

 

[HariPrasad-1]

Making small units self sufficient will be easier once we integrate complex 3d printing into our industries. One thing I have to say is that urbanization is unavoidable. In any modern economy only 5% of people will be in agriculture. Now, I agree that we can't have hundreds of millions of people flooding our already overcrowded cities. The solution is to build hundreds if not thousands of small smart towns, which will all be interconnected by good infrastructure. These towns can be hubs of all sorts of MSME's similar to the German Mittelstand concept.

No industry will ever be able to produce sufficient employment for the country like us. We must bring reforms in our agriculture sector and animal husbandry and simultaneously exercise a strict control on population control though that will hurt man siculars.

 

[HariPrasad-1]

I read somewhere that every rupee tax cut will result in approx 12000 Cr of revenue for the Central Govt.

Can you please explain how? How any cut in tax may result in improvement in revenue?

 

[Mikesingh]

I read somewhere that every rupee tax cut will result in approx 12000 Cr of revenue for the Central Govt.

Can you please explain how? How any cut in tax may result in improvement in revenue?

I think what he means is that a price reduction of Rs 1 on fuel will result in a revenue loss of Rs 12,000 crores.

 

[YagamiLight]

Its because BJP wants to spend Rs 25 lakh crore on infrastructure and build a robust world class infrastructure. I am happily spending 10 to 15 Rs more on petrol if I see a bright future. Corrupt UPA was building almost no roads and highways in its last couple of years. Against which 30+ km highway is being build today. Railway high speed corridor work is almost 60% faster and simultaneously rural rod building speed has also doubled. So i do not mind spending 150 Rs higher in fuel per month if I get this world class infrastructure in coming decade.

Typical bhakth tactic of bait(Petrol subsidies) and switch(infrastructure spending) . First you compared incomparable prices of petrol in UPA vs NDA since oil was around 120$ per barrel in UPA time vs 40-50$ in NDA times and now are writing BS about infrastructure spending. At least be honest when making BS claims

 

[HariPrasad-1]

Typical bhakth tactic of bait(Petrol subsidies) and switch(infrastructure spending) . First you compared incomparable prices of petrol in UPA vs NDA since oil was around 120$ per barrel in UPA time vs 40-50$ in NDA times and now are writing BS about infrastructure spending. At least be honest when making BS claims

You and me both are bhakta . The difference is that I am bhakta because I hate corrupt and traitors who can sale the country. So I am a bhakta of all who so ever does not do the same. When you say that in UPA time, Barrel was 120 USD ,it shows that you are a manipulator like your pappu master. Is the Petrol price 40-50 USD right now?

 

[Chinmoy]

You and me both are bhakta . The difference is that I am bhakta because I hate corrupt and traitors who can sale the country. So I am a bhakta of all who so ever does not do the same. When you say that in UPA time, Barrel was 120 USD ,it shows that you are a manipulator like your pappu master. Is the Petrol price 40-50 USD right now?

Few things to note while talking about fuel prices are here in these links.

https://www.financialexpress.com/ma...-but-petrol-price-has-risen-by-a-half/829599/

https://www.financialexpress.com/ma...sion-crude-oil-rupee-inventory-impact/739287/

Although an old article, but relevant to things.

If you are a Bhakt, some thing to lighten up your mood is here.

The price of petrol was under the government control when the crude oil was at its peak. Biting the bullet, the government deregulated the price of the fuel from its control in 2010, allowing the oil refining and marketing companies to set it in line with the market dynamics, specially crude oil prices. Following that, the price of petrol rose in line with the rise in crude oil prices till the early 2013.

So you see when and how it started. Anyway on a lighter note.

कांग्रेस अगर चाहे तो पंजाब पांडुचेरी और कर्नाटका में ₹40 प्रति लीटर पेट्रोल बेचकर मोदी जी को करारा जवाब दे सकती है

Just for fun.. :biggrin2:

 

[nongaddarliberal]

No industry will ever be able to produce sufficient employment for the country like us. We must bring reforms in our agriculture sector and animal husbandry and simultaneously exercise a strict control on population control though that will hurt man siculars.

When the market is in the hundreds of millions then workforce can also be in the hundreds of millions. Not only in manifacturing but in services too. You should look at it percentage of population wise, rather than as a total number.

 

[tsunami]

Can you please explain how? How any cut in tax may result in improvement in revenue?

I forgot to right word 'loss'..........................

 

[Akshay_Fenix]

https://48months.mygov.in/

Bravo

 

[Mikesingh]

https://48months.mygov.in/

Bravo

Nicely designed web site!!

The opposition being led by the nose by the Gandhi clan keeps badmouthing the BJP led NDA government stressing that this government has been a failure on all fronts!! Lol! Who are they trying to fool? They must think the people of india are morons not to see the progress made since 2014.

 

[mayfair]

The website should be made available in all regional languages. Having it in English only, restricts the number of people that can be reached out to.

 

[piku]

nice thread..
































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[Chinmoy]

The website should be made available in all regional languages. Having it in English only, restricts the number of people that can be reached out to.

I think respective State Government (BJP ruled) should take up this initiative.

 

[Pandeyji]

Try vaadaraha.com

Nice job in connecting everything including that which is done & that which isn't done.

 

[Tanmay]

https://www.moneycontrol.com/news/b...ollowing-sterlite-plant-shutdown-2578277.html

So we will turn from copper exporting country to copper importing country.
Sterlite accounts for half of India's copper production.
$2 Billion needs to be now spent on importing it

 

[indus]

After Kamal Hassan Rajnikant going to visit Tuticorin. Both have learned the art of politics. And allegedly the sniper who took some nice shots has also been located.