Indian Economy: News and Discussion

[Haldilal]

what kind of technology and how likely we are to get to a stage where a tax payer gets to know what exactly his taxes were used for?

Rti?

Ya'll Nibbiars The Digital Real Time RTI.

 

[ezsasa]

Rti?

Ya'll Nibbiars The Digital Real Time RTI.

RTI would be an unnecessary bureaucratic layer, we wouldn't be needing RTI if all Govt departments had dashboards or link their data to that new niti aayog data portal.

in this case ,core fundamentals already exist and are currently used in manufacturing and FMCG, that's how we get barcodes on the products we buy. for example ITC has a system where from the barcode on cigarette packet, they get to know from which farmer the tobacco came from and also how much pesticide was used.

it could be as simple as, information be available on our income tax filing portal itself, that's where journey of taxpayer's money starts in the form of challan no. in the backend tax paid can be bundled in round number like 1000, 5000 or 10,000. and some system keeps tracking until paid outside of the govt. because of round numbers there will be leftover change with each bundle, that can be managed with accounting reconciliation.

whenever the bundle goes out of the govt system, taxpayer can see which head his payments went to.

achieving this would be highest form of accountability for any government in the world.

 

[Haldilal]

RTI would be an unnecessary bureaucratic layer, we wouldn't be needing RTI if all Govt departments had dashboards or link their data to that new niti aayog data portal.

in this case ,core fundamentals already exist and are currently used in manufacturing and FMCG, that's how we get barcodes on the products we buy. for example ITC has a system where from the barcode on cigarette packet, they get to know from which farmer the tobacco came from and also how much pesticide was used.

it could be as simple as, information be available on our income tax filing portal itself, that's where journey of taxpayer's money starts in the form of challan no. in the backend tax paid can be bundled in round number like 1000, 5000 or 10,000. and some system keeps tracking until paid outside of the govt. because of round numbers there will be leftover change with each bundle, that can easily be managed.

whenever the bundle goes out of the govt system, taxpayer can see which head his payments went to.

achieving this would be highest form of accountability for any government in the world.

Ya'll Nibbiars to phir Maine kya Hebrew mein Bola?.

 

[sauntheninja]

RTI would be an unnecessary bureaucratic layer, we wouldn't be needing RTI if all Govt departments had dashboards or link their data to that new niti aayog data portal.

in this case ,core fundamentals already exist and are currently used in manufacturing and FMCG, that's how we get barcodes on the products we buy. for example ITC has a system where from the barcode on cigarette packet, they get to know from which farmer the tobacco came from and also how much pesticide was used.

it could be as simple as, information be available on our income tax filing portal itself, that's where journey of taxpayer's money starts in the form of challan no. in the backend tax paid can be bundled in round number like 1000, 5000 or 10,000. and some system keeps tracking until paid outside of the govt. because of round numbers there will be leftover change with each bundle, that can be managed with accounting reconciliation.

whenever the bundle goes out of the govt system, taxpayer can see which head his payments went to.

achieving this would be highest form of accountability for any government in the world.

Don't want these detailed stats if our tax money being used for good is visible in our surroundings

 

[Kumata]

achieving this would be highest form of accountability for any government in the world.

with pudin hara... help in digestion..

 

[ezsasa]

Don't want these detailed stats if our tax money being used for good is visible in our surroundings

More often than not, an individual person's interaction is mostly with city level public amenities, and does not use 99% of utilities built with state and central funds. and in most people's world view, if they don't know about it, it doesn't exist. so it's good to know if their funds went to defence, or infra, or debt servicing or social welfare.

more over 30-40 % of public funding is debt. Govts need way more what taxpayer's pay, to run things.

 

[Kumata]

.more over 30-40 % of public funding is debt. Govts need way more what taxpayer's pay, to run things.

problems are multi fold, well known & well documented already. this Debt can be reduced easily if taxes r used properly but alas.. people only care for their own money and when govt works under assumption that every citizen is a thief than less said better..

I was reading a shitter thread for for a restraunt owner and rules r gems..

While excise rules says u can have only one door in bar cum restraunt.. fire deptt says u must have 2 doors.. one need to be bribed..

if u have bar.. u need to document each and every ml of liquor via a register..

edit... found it... it, a gem

 

[another_armchair]

problems are multi fold, well known & well documented already. this Debt can be reduced easily if taxes r used properly but alas.. people only care for their own money and when govt works under assumption that every citizen is a thief than less said better..

I was reading a shitter thread for for a restraunt owner and rules r gems..

While excise rules says u can have only one door in bar cum restraunt.. fire deptt says u must have 2 doors.. one need to be bribed..

if u have bar.. u need to document each and every ml of liquor via a register..

edit... found it... it, a gem

Pretty much the situation on the ground for small folks with original ideas. They just give up, sell the idea and join the company in a big supervisory/advisory role + stock options.

Minimum government, maximum governance ka jumla.. hate the word but it is the reality.

Labor inspector starts with a bribe demand of 1,50,000 and settles for 5-8k depending on how well you negotiate. If you have patience, you can bring it down by a few 100's more.

 

[IndianHawk]

For his CV, he can get any of the high positions at high tables across the globe, if he wishes to. he has been predicting recessions for so long, and it's here.

There could have been only one end to all that quantitative easing. It was only a question of when? Now we have the answer.

 

[Haldilal]

Ya'll Nibbiars The NESCO, Goregaon, Mumbai, 29 Floors, 127 Meters, 14 lakhs Sq. FT. of leaseable area. And Underconstruction.

AEDAS.

 

[ezsasa]

wonder how long will it take to reach 2 lakh crore GST collections per month..
======
GST Revenue collection for July 2022 second highest ever at ₹1,48,995 crore

For five months in a row now, the monthly GST revenues more than ₹1.4 lakh core, showing a steady increase every month

 

[Kumata]

wonder how long will it take to reach 2 lakh crore GST collections per month..
======
GST Revenue collection for July 2022 second highest ever at ₹1,48,995 crore

For five months in a row now, the monthly GST revenues more than ₹1.4 lakh core, showing a steady increase every month
View attachment 166108

22% increase Y O Y is good IMO but than 21 was a covid year too...Unless govt boost consumption ( Highly unlikely ) i see some hiccups there..May be by mid 2024 ...

 

[Star screamer]

Early birds are lining up in Jewar airport Gold Rush. Vivo, Lulu to Bikanervala

Shortly after CM Yogi finalised the airport's logo and design, biscuit brand Priyagold set up its manufacturing facility in Jewar—a 953.39 crore investment.

theprint.in

Six months after Chief Minister Yogi Adityanath approved the design and logo for Jewar airport in December 2020, Surya Global, owner of the popular Indian biscuit brand Priyagold, started the construction of its manufacturing facility in August 2021. It has invested Rs 953.39 crore in an area of 38.10 acres. Restaurant chain Bikanervala also set up shop in the same area, Sector 32, roughly 10 km from the airport. It has invested Rs 160.27 crore for a 25-acre plot of land. Construction work on the facility began in January this year.

While approvals came in some time ago, the definitive news that the airport will be operational by 2024 became the catalyst for the construction process,” said Vinay Gupta, chief managing director at Bikanervala.

The packaging and labelling company, Avery Dennison, which has invested Rs 231 crore has already started manufacturing while Haldiram’s (Rs 245 crore) will also be setting up a facility in the area.

But the largest investor so far is Vivo, with a whopping Rs 5,200 crore investment in an area spread over 169.5 acres. LuLu Group International, a Middle East-based retail company, announced its export-oriented food and agriculture-produce processing park on 20 acres of land in Greater Noida. The facility is expected to generate 700 jobs and give indirect employment to 1,500 people. LuLu Group plans to invest Rs 2,500 crore in Uttar Pradesh. While two malls will open in Prayagraj and Varanasi, the third will be in Greater Noida, closer to the airport.

Phones have not stopped ringing in the offices of real estate developers in the area. Most agents told ThePrint they get at least five calls a day from potential investors. “People from NCR to Mumbai to Chennai are lining up to buy land here,” said Mohit Chaudhary, a local real estate dealer. With the cynicism of an agent who knows his market and his clients, he adds, “Many want to convert black money to white, but there are those who just want to invest in some way.”

On an average, at least two sales a week go through. Investors range from those willing to pour in crores to those with a budget of Rs 15-20 lakh.

And with good reason, too.

In less than three years, property rates have increased by 36 per cent in Greater Noida West. Along the Yamuna Expressway, real estate rates have shot up by 31 per cent from Rs 1,600 per square foot in 2019 to Rs. 2,200 per square foot, according to a recent report by Anarock Property Consultants.

As for the area near the airport, industry experts predict prices appreciating by 50-100 per cent. Additionally, residential prices are likely to increase by 40-50 per cent over the next 5-7 years.

For now, only agricultural lands can be bought in areas not designated for any government work pertaining to the airport. However, that hasn’t stopped people from trying to scam potential buyers by selling notified land that cannot technically be sold. Others try to flog plots by claiming they are ‘next to the airport’.

This was especially rampant during the first phase of land acquisition in villages such as Jewar Bangar, Modelpur and Gopalgarh. Unsuspecting buyers were unaware that the land they had bought was in fact contested. YEIDA recently demolished 11 unauthorised colonies that had come up in the region.

By the time Sudheer Sharma, a resident of Noida’s Sector 150, was ready to get a piece of the pie, he had heard of horror stories of buyers being scammed. “There are a lot of hacks out there, trying to sell land. So one has to be careful,” said Sharma, who is treading carefully in his hunt for the perfect plot of land.

This flurry of investments has given an impetus to other sectors as well. Rajkiya Mahavidyalaya, the region’s first co-educational college, will start holding classes from the end of August. Students from Jewar will no longer have to travel to Bulandshahr, Ghaziabad, Meerut, or Delhi for higher education.

 

[jai jaganath]

Early birds are lining up in Jewar airport Gold Rush. Vivo, Lulu to Bikanervala

Shortly after CM Yogi finalised the airport's logo and design, biscuit brand Priyagold set up its manufacturing facility in Jewar—a 953.39 crore investment.

theprint.in

Six months after Chief Minister Yogi Adityanath approved the design and logo for Jewar airport in December 2020, Surya Global, owner of the popular Indian biscuit brand Priyagold, started the construction of its manufacturing facility in August 2021. It has invested Rs 953.39 crore in an area of 38.10 acres. Restaurant chain Bikanervala also set up shop in the same area, Sector 32, roughly 10 km from the airport. It has invested Rs 160.27 crore for a 25-acre plot of land. Construction work on the facility began in January this year.

While approvals came in some time ago, the definitive news that the airport will be operational by 2024 became the catalyst for the construction process,” said Vinay Gupta, chief managing director at Bikanervala.

The packaging and labelling company, Avery Dennison, which has invested Rs 231 crore has already started manufacturing while Haldiram’s (Rs 245 crore) will also be setting up a facility in the area.

But the largest investor so far is Vivo, with a whopping Rs 5,200 crore investment in an area spread over 169.5 acres. LuLu Group International, a Middle East-based retail company, announced its export-oriented food and agriculture-produce processing park on 20 acres of land in Greater Noida. The facility is expected to generate 700 jobs and give indirect employment to 1,500 people. LuLu Group plans to invest Rs 2,500 crore in Uttar Pradesh. While two malls will open in Prayagraj and Varanasi, the third will be in Greater Noida, closer to the airport.

Phones have not stopped ringing in the offices of real estate developers in the area. Most agents told ThePrint they get at least five calls a day from potential investors. “People from NCR to Mumbai to Chennai are lining up to buy land here,” said Mohit Chaudhary, a local real estate dealer. With the cynicism of an agent who knows his market and his clients, he adds, “Many want to convert black money to white, but there are those who just want to invest in some way.”

On an average, at least two sales a week go through. Investors range from those willing to pour in crores to those with a budget of Rs 15-20 lakh.

And with good reason, too.

In less than three years, property rates have increased by 36 per cent in Greater Noida West. Along the Yamuna Expressway, real estate rates have shot up by 31 per cent from Rs 1,600 per square foot in 2019 to Rs. 2,200 per square foot, according to a recent report by Anarock Property Consultants.

As for the area near the airport, industry experts predict prices appreciating by 50-100 per cent. Additionally, residential prices are likely to increase by 40-50 per cent over the next 5-7 years.

For now, only agricultural lands can be bought in areas not designated for any government work pertaining to the airport. However, that hasn’t stopped people from trying to scam potential buyers by selling notified land that cannot technically be sold. Others try to flog plots by claiming they are ‘next to the airport’.

This was especially rampant during the first phase of land acquisition in villages such as Jewar Bangar, Modelpur and Gopalgarh. Unsuspecting buyers were unaware that the land they had bought was in fact contested. YEIDA recently demolished 11 unauthorised colonies that had come up in the region.

By the time Sudheer Sharma, a resident of Noida’s Sector 150, was ready to get a piece of the pie, he had heard of horror stories of buyers being scammed. “There are a lot of hacks out there, trying to sell land. So one has to be careful,” said Sharma, who is treading carefully in his hunt for the perfect plot of land.

This flurry of investments has given an impetus to other sectors as well. Rajkiya Mahavidyalaya, the region’s first co-educational college, will start holding classes from the end of August. Students from Jewar will no longer have to travel to Bulandshahr, Ghaziabad, Meerut, or Delhi for higher education.

Itne dino bad kese ho?

 

[ezsasa]

22% increase Y O Y is good IMO but than 21 was a covid year too...Unless govt boost consumption ( Highly unlikely ) i see some hiccups there..May be by mid 2024 ...

yup, there are enough infra projects in pipeline for states to increase their revenues, but they need to do their part in getting their side of activities done.

 

[Star screamer]

Itne dino bad kese ho?

Was suffering from JEE defeat and not getting tier 1 college but still now i am taking cse in 2nd tier college will master cse which is my childhood dream
not taking drop now

 

[Star screamer]

Learning from mistake that i committed during preparing for this exam will teach me life long lessons its a college between tier 1 and 2 spectrum on campus placements are also good max package was 40 lakh per annum btw i am not interested on sitting on campus as off campus is my main goal
but not getting dtu still hurts

 

[jai jaganath]

Was suffering from JEE defeat and not getting tier 1 college but still now i am taking cse in 2nd tier college will master cse which is my childhood dream
not taking drop now

Which tier 2 college did u get I mean is that govt or private?

 

[jai jaganath]

Learning from mistake that i committed during preparing for this exam will teach me life long lessons its a college between tier 1 and 2 spectrum on campus placements are also good max package was 40 lakh per annum btw i am not interested on sitting on campus as off campus is my main goal
but not getting dtu still hurts

Life is about success and failure
Both r important
U have done your best and rest live it on Shiv ji
Life is way big than this exam so cheer up

 

[Star screamer]

Which tier 2 college did u get I mean is that govt or private?

Maharaja Surajmal Institute of Technology

www.msit.in

bpitindia.com – BPIT

www.bpitindia.com

https://www.collegepravesh.com/engineering-colleges/mait-delhi/