What could these tough decisions be that NaMo has tweeted about?
Narendra Modi @narendramodi 22h
Time has come to take tough decisions in the interest of the nation. Whatever decisions we take will be solely guided by national interest.
I don’t want to second-guess the Swarajyam revolutionary leader but I can recount the decisions necessitated by the rotten SoniaG regime which NaMo has inherited.
Madhav is right in advising Arun Jaitley to use the talents of patriots of Bharatam who are knowledgeable about the economy.
SoniaG regime has left the fiscal and financial system of the nation in utter shambles.
The gargantuan loot indulged in during the last 10 years is larger than the loot of the British colonial regime. This loot is exemplified by what Ramjethmalani has computed to be the SoniaG family loot to be $. 1500 b (a meagre Rs. 90 lakh crores, that is, about 45 times the 2G scam). What tough decisions will NaMo to restitute the loot first bring the monies into India’s financial system, then prosecute the looters and give marching orders to Tihar through fast-track courts. A success in this restitution effort will render the financial management a lot easier and put the nation on its fast track growth path to reach the contribution India made in 1 CE (pace Angus Maddison).
The loot is ongoing, NaMo, thanks to a financial derivate called Participatory Note (P-Note for short). This is daylight hawala loot to take money out of the country into tax havens and reroute some of it through derivative instruments certified by western money brokers, professionally called fund managers like Morgan Stanley or Fidelity et al. This are comparable to the Rupee notes issued by RBI but are denominated in USDollars without naming the beneficiaries of the instruments. This is an utter violation of the fundamental principle in financial propriety: KNOW YOUR CLIENT. Who owns these P-Notes? It is not unlikely that some of them are also owned by terror operatives as was noted by the then National Security Adviser.
Chamchagiri runs riot in all walks of life, thanks to SonoaG’s consistent suversion of every single Constitutional institution. Is it naieve on the part of NaMo to assume change of heart among these chamchagiri operatives and allow them to be lined up for undertaking Mission NaMo, Mission Shreshtha Bharat?
The segment of Indian economy named famously by Prof. R. Vaidyanathan of IIM Bengaluru as India Unincorporated (India Uninc., for short) is the bedrock of the economy but all attention of FMs from Manmohan, PC downwards has been orchestrated to pamper the so called India Inc. entities who are only the fringe operatives of the economy engaged in their own profit-making endeavors with little regard for social responsibility and concern for the poor people of the nation, about whom NaMo has talked about again and again. In fact, he promised that the loot will be brought back and distribute to the poor. Do IT, NaMo. Get your team to focus on this distribution exercise.
Do NOT repeat the mistakes of the colonial regime hangovers which have been represented by the SoniaG regime types and even earlier regimes immediately after India got her independence in 1947. The economy we have is a state-managed economy to benefit the capital subversives. The song and dance have been orchestrated by World Bank-IMF derivative psedo-economists and fiancial experts to stage-manage the economy to benefit the India Inc. to the utter disregard and in utter disdain of India Uninc.
Can we hope that this disdain will be given up? What will be the indicators of tough decision-making? Will the NaMo economic regime build up the Hindu Undivided Family and all Indian families by providing tax reliefs for the expenses incurred on education and health of FAMILY members? Will the India Uninc. be saved from the money-sharks who deny them working capital to run their businesses efficiently and effectively?
More power to you, NaMo in your penchant for tough decisions. The people are with you. All it takes to retain their confidence in you is to start delivering on the promises made. Start now, start getting people to help you in managing the nation’s financial system.
The President’s address to the Jt. Session of Parliament is a splendid start. Start now, start delivering on the thorium technology initiative by announcing a thorium-based nuke doctrine, by announcing the National Water Grid Authority and steps to form United Indian Ocean States (UIOS) for TransAsian Railway and Highway systems and management of Himalayan-glacier-fed rivers of UIOS — starting with moving Brahmaputra flood waters to Kanyakumari through Farakka, Subarnarekha, Mahanadi, Godavari, Krishna, Palar, Pennar, Cauvery, Vaippar, Gundar rivers. Call it what you will, bring waters 24X7 to every farm, every home with tap water, following SC (3-judge bench headed by CJI) roadmap for monitoring Committee to get the Grid in place in 3 years’ time.
Good luck. With your determination and anugraham of Bharata Maataa, everything is possible.
Rāṣṭram me datta Rāṣṭramamushmai datta svāha is the refrain. This means, give me Rāṣṭram, give my esteemed people Rāṣṭram, O Holy waters. This UIOS is the Vedic Rāṣṭram, NaMo.
In the Rajasuya ritual water from various sources is collected and is sanctified with these mantras (before Abhisheka is done on the Yajamana) and Rashtra is sought from waters of various sources (from 16 sources. Eg from -sarasvati river, from the rains, from well etc..). Along with water of each source the mantra Rāṣṭradā Rāṣṭram me datta.. is repeated.
M.D Nalapat is the Editorial Director of TheSunday Guardian.
|The people expect change, Mr Jaitley
What Jaitley needs is a clutch of individuals who understand ground reality in India, and who have ample stocks of common sense.
Union Finance Minister Arun Jaitley speaks in the Rajya Sabha in New Delhi on Tuesday. PTI
his columnist is not among the fortunates who have had extensive interaction with Finance & Defence Minister Arun Jaitley, despite having known this very personable of politicians for 25 years. The man who is widely considered as having the second most important job in the country after Prime Minister Narendra Modi, has invariably been courteous, and with a boyish sense of humour. Such warmth contrasts with his predecessor, the dour if cerebral Palaniappan Chidambaram, who seemed to view most of those who floated into his space as nuisances or as nincompoops. Although Chidambaram showed himself to be innovative in his 1997-98 budget, cutting tax rates and calling for an amnesty designed to bring black money into the tax, that spirit had clearly been drained out of him in his second incarnation as the Union Finance Minister. Much to the joy of the BJP, Chidambaram refused to lower tax rates, and instead re-established the punitive tax regime favoured by Indira Gandhi, perhaps in homage to UPA chairperson Sonia Gandhi. From the 1997 Dream Budget to his UPA-period “nightmare” budgets, Chidambaram came a long way, and contributed in no small measure to the present pitiful tally of his party in the Lok Sabha. Voters swarmed to the BJP because of their certainty that Prime Minister Modi would usher in change, an expectation fed by the powerful invocation to progressive policies repeated by Narendra Modi in venue after venue.
The 2014-15 Union Budget will be the clearest indication that change has indeed come to India, now that Narendra Modi has replaced Manmohan Singh as the lawful occupant of 7 Race Course Road. Finance Minister Jaitley will need to go beyond the advice given to him by a Chidamabarised (i.e. non-innovative) bureaucracy, or by “experts” chained to theories that have ceased to be valid even in the faraway locations where they were thought up. When Jaitley’s predecessor spoke of his Harvard connection, what was forgotten was the fact that those from the Ivy League have presided over some of the most disastrous mistakes made by US administrations, such as getting into Vietnam in the 1960s or creating the conditions which resulted in the financial crash of 2008. What Jaitley needs is a clutch of individuals who understand ground reality in India, and who have ample stocks of commonsense. The very qualities, in fact, that Prime Minister Modi has demonstrated so convincingly over his years in office.
Hothouse experts and timid officials will ask the Finance Minister to hold off from tax cuts or other “unorthodox” measures, hoping that he will follow in the pedestrian path of P. Chidambaram and retain high rates and complex rules. Should Arun Jaitley follow such a route, he would be throwing ice-cold water on the tens of millions of taxpayers who voted for Narendra Modi. What is needed is much lower tax rates, not simply a cosmetic cut. At the same time, “low impact high incidence” taxes such as the Securities Transaction Tax need to be retained. What is needed is faith in the entrepreneurial spirit of the Indian businessperson, so that he or she is given a tax and policy framework conducive to growth, rather than remain subject to a barrage of restrictions and imposts designed to feed the craving for control (and thereby bribes) of a colonial-era bureaucracy.
If any single event has the potential to decide the way in which expectations will travel now that Modi has been given the parliamentary majority he asked for to complete the job of putting the economy on track for 15% growth, it is the first Union Budget of the Modi period. A very heavy responsibility rests on Arun Jaitley to ensure that the promise of change made by the Prime Minister gets carried out rather than thrown into the wastebasket, the way so many political promises have been in the past. The changeover from Sonia-Manmohan to Modi is anything but routine, and it is during the initial months that expectations will set, either be shown to be justified, or give way to disillusionment and despondency.
As Prime Minister Modi well knows, confidence and optimism among the public is essential to the success of his vision for a prospering and peaceful India. The coming Union Budget will be core to ensuring the creation of just such a spirit.
Guest • 2 hours ago
It is good that the FM enjoys the PM’s complete confidence. Many difficult decisions will need to be taken to restore the economy to health, as the PM has indicated in Goa. A cut in the direct tax slabs would undoubtedly be welcome but, given the strained public finances, one would not bet on it.