Indian Economy: News and Discussion

[Hiranyaksha]

@captscooby81 how does it cost to construct around 4-6 flats on around 1800 sqft land ?

 

[Kumata]

Or they simply want to make budget speech event itself boring, thereby remove the strangle hold of few businessmen on nation’s economy via their media outlets just so that they can make profits in stock market & FMCG.

People seem to forget that up until 2015, prices used to rise for milk cigarettes & onions the next day, purely based on speculation. Hoarders and black marketeers used to earn crores, three days prior and after budget speech.

Thats happening anyways now as well.. Onions were 100+ for almost 4-5 months but media mgmt is good....i am inclined to think that while earlier they were making indirect profts now they are legitimtely making direct profit... so yeah big difference...

 

[tsunami]

And funnily it's the promoters who get the maximum dividends . And they are highly taxed already . So even they won't enjoy their own dividends now .

But again I would not blame this govt or any govt . Before every budget I keep hearing this tax cut drama flared by media and middle class takes it serious and goes disappointed after budget seeing it happen year after year . They slowly removed tax upto 5 lakhs . Next they will do may be 7.5 lakhs and then finally they will go upto 10 lakhs . Or keep a tax rate of 5% for less than 12 lakhs slab

Well this government hv fucked middle class straight for 6 years. Sadly wasn't the case during Congress.

 

[ezsasa]

Thats happening anyways now as well.. Onions were 100+ for almost 4-5 months but media mgmt is good....i am inclined to think that while earlier they were making indirect profts now they are legitimtely making direct profit... so yeah big difference...

You are mixing two different events. Onion price rise in winters was always a thing, even though less frequent these days.

I am specifically talking about black marketing week prior and after budget speech, there by price rise of common goods.

 

[tsunami]

So the conclusion is that Modi kaka really doesn't know economy?

Bhaiya Modi maharaj ke muh pe is JNU chutiya ne parliament me tamacha mar diya or usko pata bhi nai chala. Bahar aake budget ko accha bata raha tha.

Sukanya samriddhi and many other pension schemes were basically pet projects of modi. I myself hv invested in sukanya samriddhi for my daughter. All these schemes were part of deductions under 80c. That bitch abolished 80c. Or Modi maharaj taliya baja rahe the.

 

[Kumata]

You are mixing two different events. Onion price rise in winters was always a thing, even though less frequent these days.

I am specifically talking about black marketing week prior and after budget speech, there by price rise of common goods.

That was just an example....baniyas always hoard around budget expecting dury inrease or xyz ... that have happened this time as well...Or may be i am too illinformed and cut off from ground reallity ...

Fact is they started on a excellent note with GST and DEMON but with Poor planning...I still support both but do we have the desired results.... thats open for debate...

A fucking necessity like car here carries a 58% tax componenet... just a small example ..

 

[tsunami]

@captscooby81 how does it cost to construct around 4-6 flats on around 1800 sqft land ?

1500 rs. per square feet of construction.

 

[tsunami]

That was just an example....baniyas always hoard around budget expecting dury inrease or xyz ... that have happened this time as well...Or may be i am too illinformed and cut off from ground reallity ...

Fact is they started on a excellent note with GST and DEMON but with Poor planning...I still support both but do we have the desired results.... thats open for debate...

A fucking necessity like car here carries a 58% tax componenet... just a small example ..

Even I was hoping for Gst cut in cars. But having good expectations from these idiots is a crime.

 

[vampyrbladez]

This Nirmala has to go and ASAP.

 

[sorcerer]

Percentage of people paying tax in India : 4%
Pecentage of people getting frustrated with tax in Budget: 99%

​

 

[vampyrbladez]

Backtracking has started by JNU aunty!

Budget 2020 | No intention to tax global income of NRIs in India, says Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday said that there is no intention to tax global income of NRIs and only income generated in India will be taxed.

https://www.thehindu.com/business/b...a-says-nirmala-sitharaman/article30719238.ece

 

[Hiranyaksha]

1500 rs. per square feet of construction.

Any example for quality of construction ?

 

[tsunami]

Any example for quality of construction ?

Can't give any example but it won't be bad.

 

[jackprince]

Or they simply want to make budget speech event itself boring, thereby remove the strangle hold of few businessmen on nation’s economy via their media outlets just so that they can make profits in stock market & FMCG.

People seem to forget that up until 2015, prices used to rise for milk cigarettes & onions the next day, purely based on speculation. Hoarders and black marketeers used to earn crores, three days prior and after budget speech.

Bhai, this is 2020. You cannot say what used to happen in 2015.

Percentage of people paying tax in India : 4%
Pecentage of people getting frustrated with tax in Budget: 99%

​

None here is a non-tax payer. Btw, it is those 4% who drive demand. In fact less than 10% of that 4% was GoI employees, yet I read few analysis that issuing 6 pay commission disbursement in 2008-09 actually helped the Indian economy to avoid worst effects of the global recession. Yes, parallel black economy too helped. But, if an influx of expendable income in the hands of 3-4 million people can keep an economy afloat during worst recession of recent history, what could extra money in the hands of 40-50 million people could do to economy, just imagine.

Also don't be myopic. The rest of the 99% (though I doubt it is more than 10% beyond the 4% who cares about nitty-gritty of the economy) are also tied to 4% through the supply chain. Whether it is a factory worker or a shopkeepers' assistant or a labourer or a farmer, their income is also affected if the consumption & demand goes low or doesn't rise.

 

[captscooby81]

As @tsunami said it should not be more than Rs.1500/sft . We use L&T for our high rise projects and it works out around Rs.1800/sft .

@captscooby81 how does it cost to construct around 4-6 flats on around 1800 sqft land ?

 

[Pandora]

Must say she fucked up whole economy . Not even aware of ground reality.Automobile industry bleeding to death,middle class staring at uncertain future due to Job security.

She must visit daily labour market near Thane,mumbai,she must look at their eyes.They are uncertain about dehadi as Real estates fucked up too.

 

[captscooby81]

Dude just calm down . There is no backtracking or anything its just yesterday we heard what media said today after clarifications few things are getting cleared . NRI tax was about the income they are earning in india , yesterday few guys in telegram group were not happy because they are all into merchant navy with 240 days rule for NRI . today once clarification came they are relaxed .

Backtracking has started by JNU aunty!

Budget 2020 | No intention to tax global income of NRIs in India, says Nirmala Sitharaman



https://www.thehindu.com/business/b...a-says-nirmala-sitharaman/article30719238.ece

 

[captscooby81]

Automobile industry is no where close to death there is drop in sales but not any where close to shut shops . global automobile slowdown is happening germany faced its first drop in automobile in 22 years they didn't face this much in 2008 sub prime crisis which triggered recession . The industry is facing a challenge across the globe

Must say she fucked up whole economy . Not even aware of ground reality.Automobile industry bleeding to death,middle class staring at uncertain future due to Job security.

She must visit daily labour market near Thane,mumbai,she must look at their eyes.They are uncertain about dehadi as Real estates fucked up too.

 

[Nicky G]

Unfortunately, you'll have to wait for about 15 months to see how much response or lack of it is there for new scheme. It is the month of May-June,2021 when people start filing their ITax return.

Btw, the removal of Dividend Distribution Tax is one move that again makes me angry. It is not the act itself that makes dividend taxable at the hamd of recipient, but it is how both Nirmala Sitharaman and Piyush Goyel is claiming it to be revolutionary move to get more money in people's hands. Why do these people treat us tax payers as idiots?

The idea was to have more money in people's hand to promote demand. Instead they are squeezing money off people more. Given the slow growth of economy, any number of tax cut on corporates is not going to help economy. I had watched an interview with Goyenka recently where he was rebutting Bajaj on supposed hostile nature of this govt towards industries that contradicts the Govt. Goyenka said that the lack of investment by Indian businesses in recent times is because they have already invested in massively in building capacity in anticipation of market growth, but unfortunately demand did not grow to meet that built up capacity. He was hopeful that demand will grow within 1-1.5 years to meet that capacity, so that industry will start investing anew. I don't know how the spurt of demand will come now. Anyhow, from the statements of Nirmala Sitharaman as well as Piyush Goyel it seems the govt decided they don't need domestic market to grow and would rather love export to grow. It was all export export and export. I am not that smart, but still it seems rather myopic in my view.

People may file returns in the June 2021, but for the salaried class, the employers will need to know which regime their employers have opted from April 2020 itself for them to be able to deduct proper TDS.

The sheer flip flopping of this government is staggering on so many issues. Just look at NPS. In 2018 they made it an entirely tax free instrument and just a couple of years later, removed it form deductions.

The problem is not with NS, it's Modi who either has not taken economy seriously enough or just doesn't know how to handle it. Either way, it seems economy will stagnate.

For my part, I can take a certain amount of economic mismanagement as long as national security is delivered upon. Not sure others outside our group, who don't understand or care much about national issues will have this view.

Who in Modi's cabinet can be trusted with the economy?

 

[ezsasa]

Bhai, this is 2020. You cannot say what used to happen in 2015.

My point is those big people who used to control the old system are itching to get back to old days, recent SS congi NCP alliance is a good example. within a month of forming govt, they cancelled elections in farmers markets in maharashtra. which means they are going to place their people, and create hoardings and inflate prices.

criticism is fine, as long as people are not willing to burn their own safety net to justify their criticism.