Indian Economy: News and Discussion

[Akshay Fenix]

OCI card holders from US use their annual India trip to get their basic dental care done .bills don't drill a hole in their heart here in India compared to what they will pay in USA .


@Kumata care to explain your 58% tax on car jibe please ?

Saw it in some news paper, they combined all kinds of taxes/costs from income to road to sales, dealership cut bla bla and reached that figure.

 

[sorcerer]

India can outperform other emerging markets: Morgan Stanley's Jonathan Garner
After quite a depressed business and economic environment, India could be looking at a pickup in growth soon, said Jonathan Garner, chief - Asia and Emerging Market equity strategist at Morgan Stanley. According to Garner, having some cyclicals in the portfolio would be advisable.

https://www.moneycontrol.com/news/b...-morgan-stanleys-jonathan-garner-4903231.html

 

[Haldiram]

The same news channels created a panic 48 hours ago citing every reason under the sun, from fiscal deficit to Corona virus. Same people are creating euphoria now. Kal fir correction hoga, fir royenge. Best ignored.

Never seen such chew quality analysis. People don't sell their homes or cars or gold or FDs due to some virus scare, why would they sell stocks.

48 hours ago : People sold stocks and ran away because of Corona virus

24 hours ago : People are buying stocks because Corona virus has gone.

 

[south block]

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

​

97% of Indians don't have taxable income in first place

 

[Popeye]

https://scroll.in/latest/952138/bud...te-ambitious-given-indian-economys-challenges

 

[Why so serious?]

97% of Indians don't have taxable income in first place

Kaha see aate hai ye log aur kaha se yeh figures utha laate hai ?

This is exactly what the brain dead pakis do every where.....
90 % of Indians are living under poverty , 90 % of Indians defecate in the open .....

Kahin see bhi uthake koi bhi ek number quote kardo BC facts aur source Jaye gandmarane.

 

[sorcerer]

For the dummiecummies!!!!!!!!!!!!!!!!!!

 

[sorcerer]

Kisan Rail: All you need to know!
Kisan Rail: The Union Budget 2020-21 proposes setting up of Kisan Rail to build a national cold supply chain for perishables including meat, milk and fish. The Kisan rail will be set up by the Indian Railways through the PPP arrangement.

The Kisan Rail will comprise refrigerated coaches in Express and Freight trains. The budget also proposed the launch of Krishi Udan by Civil Aviation Ministry on international and national routes to transport perishable goods to less accessible areas such as the north-east and tribal districts.

The Indian Railways has already taken the following initiatives towards the development of a cold chain for the transportation of perishable goods:

Refrigerated Parcel Vans: The Railways has developed a new design of refrigerated parcel vans with the carrying capacity of 17 tonnes for the transportation of highly perishable parcel traffic. It was procured through Rail Coach Factory Kapurthala. The Indian Railways currently has a fleet of nine such refrigerated vans and they can be booked on a round-trip basis. The charge of the vans is 1.5 times the charge of a normal freight train.

Reefer (Ventilated Insulated) Rail Containers: The Indian Railways has procured 98 Ventilated Insulated Containers for the transport of fruits and vegetables across the country. The containers have a carrying capacity of 12 Tonnes per container.


Well!! already its functioning in some places!

https://www.jagranjosh.com/current-...-chain-all-you-need-to-know-cold-1580802992-1
Cold Storage Facilities for Perishables: Under a pilot project, temperature-controlled perishable cargo centres have been set up at select areas including Ghazipur Ghat (UP), New Azadpur (Adarsh Nagar, Delhi) and Raja ka Talab (UP) under Kisan Vision Project, as a by the Container Corporation of India under CSR initiative. Another such project is under construction at Lasalgaon, Nasik in Maharashtra and in Dadri. Besides, the Central Railside Warehousing Corporation has been granted approval to develop similar temperature-controlled storages at Fatuha and Mancheswar.

Background

The Union Budget 2020-21 reiterated the central government’s commitment towards doubling farmers’ income by 2022. The budget highlighted that farmers’ prosperity can be ensured by making farming competitive. To enable the same, the budget proposed to build a seamless supply of cold supply chain for perishable goods.

 

[south block]

For the dummiecummies!!!!!!!!!!!!!!!!!!

Oh Bhai most farmers earn very less & depend on indra devta --- you are thinking of rich farmers who are not even 0.1 % of Indian farming community who earn in millions --- I do believe they need to be taxed higher depending on the annual income.

 

[Kumata]

OCI card holders from US use their annual India trip to get their basic dental care done .bills don't drill a hole in their heart here in India compared to what they will pay in USA .

Everybody in US is covnered with insurance. Have tons of colleagues and been a once in quarter traveller to US, i know the goras coming into india are not from US & europe. Majority coming to india is from Africa / Iran / iraq or rich afghans.

OCI card holders from US use their annual India trip to get their basic dental care done .bills don't drill a hole in their heart here in India compared to what they will pay in USA .


@Kumata care to explain your 58% tax on car jibe please ?

https://timesofindia.indiatimes.com...aried-classes-get-the-short-end-of-the-stick/

So even handicapps gets fleeced at rate of 18% while rest able pay 28% . unless babus change their mentallity that cars are for rich, this will continue ....

As for OCI holders goes, they are normal joe like us in india who are there to save every dollar to bring it back for their twilight years... no gora will ever trust their teeth with indian doctors...not because they are bad but because they have better public facilities...

 

[Kumata]

Kaha see aate hai ye log aur kaha se yeh figures utha laate hai ?

This is exactly what the brain dead pakis do every where.....
90 % of Indians are living under poverty , 90 % of Indians defecate in the open .....

Kahin see bhi uthake koi bhi ek number quote kardo BC facts aur source Jaye gandmarane.

if you cannot differentiate between tax payers and poors what can we do... who said that all non tax payers are poor .. in a country of 120 crore just 5.87 crores filled returns. its any ones guess as how many of these 5. 8 crores were actual payers...go to page 8 & 9 to see exact income figures. majority are in lower income bracket... data for 19-20 is still not uploaded...but that gives a good idea...

Do read this 88 page pdf, to some enlightenment on tax payers...and yes it's from authentic sources.. i know we love conspiracy theories hence putting it out clearly...

Source - https://www.incometaxindia.gov.in/Documents/Direct Tax Data/IT-Return-Statistics-Assessment-Year-2018-19.pdf

 

[jackprince]

There were no big bang announcements matching the scale of corporate tax cut, but the personal income tax slab revision and subsequent tax discount withdrawal will lead to more money being spent, rather than being stashed in the PPF/ELSS account. It's a positive step. People have underestimated the move.

People in the 5L-10L income group tend to use PPF/ELSS/loans as a tax saving instrument. Now they will either have to spend the money, or invest it somewhere. Either ways, it will be reflected in the market.

You know this 'have to' part makes more enemy than 'opt to' makes friends. If you think that middle class of today is stupid to not undertstand they are being screwed to get corporates make profit. Albeit the corporate needs to make profit for the sake of economy. But that doesn't mean that traditional ways that actually helped Indian middle class to float above every financial set backs they had had, is to be done away with. There's a limit to what a middleclass man would bear the burden of the nation on his shoulder. Mind you, the middleclass man gets nothing from the nation. No subsidy, no quality life, no assistance - nothing. If you think you can sway middle-class votes on rising nationalism alone, I wouldn't know what to make of you. Yes, BJP has a rising vote base in lower income strata which is distinct from its traditional middle class and baniya vote bank. But, how many hits would the traditional vote bank take to say not anymore is anyone's guess. Yes, we might need BJP to counter the anti-national elements. But, I also need money for both my and my child's future. Govt wont finance my child's education or my retirement.

 

[Knowitall]

I read one report recently that BJP's core voter base is shifting from the urban centres to the rural areas more.

One thing I would like to say is while it's really great to see BJP get a good foothold in the rural section of the population too they should not make the mistake of giving up on the urban centres which consists mainly of the middle class that would be a fatal mistake on their side.

Rural class are extremely swing voters their votes depend mostly on who can give them more waiver more money and more subsidy etc.

Middle class both the upper and lower on the other hand tends to take a lot of hits before changing their ideology. They would probably bear the brunt as long as it doesn't cause them much pain.

BJP must not cause too much pain to the middle class because you don't want them to shift towards Congress etc.

AAP wins in Delhi because of the freebies they give and whatnot.
BJP doesn't need to do the same but a bit less strain would be a good start.

For me state elections are a worrying trend and now the Delhi elections BJP needs to do something.

 

[Knowitall]

The middle class would also love to have a lot of things beautiful and clean cities great public transportation continues water and electricity supply.

Less expensive healthcare good education for their kids.

There are a lot of things they would like too I mean all those top coders and IT guys etc when they go out they go for a better quality of life if we can bring the same here it would drastically reduce the brain drain.

The only reason there has been some reduction in Students moving abroad is because of the anti immigration policies etc which has stopped many from going ahead they have now turned to Europe we should do something to stop this too.

 

[Prashant12]

Services PMI rises to 7-year high at 55.5 in January

https://www.thehindubusinessline.co...ar-high-at-555-in-january/article30740472.ece

Solid demand lifts India services activity to 7 year high in January


Read more at:
https://economictimes.indiatimes.co...ofinterest&utm_medium=text&utm_campaign=cppst

 

[Hiranyaksha]

https://economictimes.indiatimes.co...uying-houses-inindia/articleshow/73943697.cms

Why not ban us from India itself ? Cancel OCI, PIO, Indian passport for NRIs. Ban us from our own motherland My Lord.

 

[sorcerer]

India records 26 billion online transactions in 2019, says Paytm
https://www.cnbctv18.com/business/i...e-transactions-in-2019-says-paytm-5223001.htm

 

[Popeye]

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[Kumata]

https://economictimes.indiatimes.co...uying-houses-inindia/articleshow/73943697.cms

Why not ban us from India itself ? Cancel OCI, PIO, Indian passport for NRIs. Ban us from our own motherland My Lord.

I find this argument of mother land pretty laughable. Emotions comes Only when it comes to money... Huh pretty convenient... I had say....

Reading through article, I do see a merit since majority of buyers are investors... Which tends to shoot up the re state prices... Nothing wrong in investing but it affect a mango man who is out there to buy a house for living with limited resources..

 

[Spindrift]

https://economictimes.indiatimes.co...uying-houses-inindia/articleshow/73943697.cms

Why not ban us from India itself ? Cancel OCI, PIO, Indian passport for NRIs. Ban us from our own motherland My Lord.

dil pe mat le bahi..

Lately some of the high court judgements don't make a whole lot of sense. For example:

A recent judgement by Delhi HC had held a paper cutter as 'Deadly weapon' for committing robbery with an attempt to cause death.

Justice Vibhu Bakhru said 'Although it is meant for a specific purpose of cutting paper, there is no denying the fact that its blade is very sharp and is capable of delivering a fatal injury'.

The paper cutter was placed on the neck of the complainant, the court accepted the claim of it being a 'deadly weapon' within the ambit of section 397 of IPC. It said: 'Indisputably,such an instrument used as a weapon and placed on the neck of a victim is sufficient to terrorize a victim into yielding under fear of an injury.'

And convict was sent for a 7 year rigorous imprisonment.