Budget 2019 What matters most

Too many promises and lots of ideas but how and when will budget ideas be implemented and more importantly how will it be funded is a big ?? because funding is depending on private partnership. Secondly this budget is filled with contradictory goals

The govt wants 90000 crores from RBI , is going to borrow more and substantially enough that it wants to borrow sovereign debt in foreign funds .

Too much populism and mismanagement can make India another Pakistan and Argentina is a big big risk when governments depend on external debt to finance deficits in the distant future.

Budget is very Inflationary ! u will pay more excise and government earns more cess of at least 40000 crores vide oil tax on petrol and diesel. Expect everything to face inflation or mehengai tax even if there is no or little change in normal taxes.

Huge push on reviving a property market with more deduction of 150000 but middle class is over saturated with having empty second and third flats that they are unable to sell .  Model tenancy law will be revolutionary if it can meander through the complex and archaic legal system and free up locked empty houses for use thus increasing supply of rentable property, making postponing a property purchase more lucrative.

There is a big push for govt to recapitalize psu banks 70000 crores is huge but will the npa ko evergreen karo, ji mantri ji, chalta hai and corruption culture of babus in banks change ? will politicians meddling in banks and creating massive NPAs stop ? Essar RCom Kingfisher and Jet Air , N Modi are salient examples of crony capitalism.

INDIRA Gandhi had nationalized banks . The PSU banks have become bankrupt thrice received bailouts to keep them afloat  since then, showing the desperation of Rulers /mantris to control the strings of the economy.

Farmers and psu banks are good candidates for permanent bailouts. How do i become a farmer or a psu staffer ??

The markets are crashing as Modi govt policy reminds it of the Indira Era.

Govt has a disinvestment target of 105000 crores and wants to increase public shareholding to 35% but govt holdings will include PSU and LIC holdings (what hypocrisy).

The govt spells out vide policy to small investors – dont invest in PSU cos as it will keep dis-investing while keeping control .. an unmitigated disastrous way of destroying taxpayer and investor wealth. Wonder who will invest when even UPA era disinvestment is in losses . Atal era disinvestment candidates like  ONGC etc will be in losses very soon the way the govts want to milk them.

Govt wants to lay the red carpet for foreign funds but fails to understand that the local small investor is suffering and bleeding .

Govt it seems, want to incentivize the rich to QUIT India and follow Gandhi bapus advise , as it increases taxes on the rich with added cess .

Gold purchases will fall as u pay 2.5 % more,  Excise / Cess on oil will make more problems for Automakers which are already a all time lows .

Tax of 20% on buyback is ridiculous especially when govt reintroduced LTCG .

This will make a huge impact on investor psyche especially because the policy is shifting towards Indira era policy.

Excise / Cess on oil will make more problems for Automakers which are already a all time lows .

 

 

 

 

 

The Vadra-DLF Tagle

RTI / IAC activist and  Ramon Magsaysay Award winner, Ex IRS turned politician Arvind Kejriwal… has exposed the tangle between DLF and Robert Vadra in his recent expose.

Simple question here is why did DLF a company neck deep in debt having a debt: equity ratio of close to 1:1, doing a fire sale of assets to reduce debt on its highly leveraged balance sheet give Vadra interest free debt be it a loan or an advance?

Direct Involvement:

1. DLF  2. Robert Vadra, the fastest Indian billionaire in recent times with an estimated net worth of a staggering $2.1 Billion, husband of Priyanka Vadra , daughter of Sonia Gandhi and a member of the Nehru-Gandhi family by marriage.

Robert Shares the directorship with his mother Maureen,  others in his family died either by accident or by suicide. Strangely.. his wife Priyanka Vadra has no stake in his companies , which if not sexist is nothing but ring-fencing the brahmastra of Congress.

Indirect Involvement (Nepotism angle)(Crony Capitalism angle):

1. IndiRan National Congress, State and Central Govts and their govt machinery. 2. PSU Banks that provided Loans to DLF and Vadra. 3. Sonia Gandhi and Priyanka Vadra.

Read Hindu: Attack on Vadra is attack on party: Congress

Now Robert Vadra is no ordinary man or aam admi as he first claimed, and being the son in law of the first family of Indian politics has loads of perks. He is a special person or khass admi, as he is exempted from airport security checks , a privilege reserved for President, Vice President, Prime Minister, former presidents, former vice-presidents, Speaker of the Lok Sabha, Chief Justice of India etc … Read this

The SPG Act is a draconian law passed by Indira Gandhi and he is a Special Case as per Mr P Chidambaram in a reply to an RTI Query by a team member of  Avnish Singhs RTI Anonymous.

This news is not new, it was a tad bit stale… but no media house or political party risked itself or its sweat heart deals or its fortunes by exposing the nepotism in the system fearing loss of business, exposure of skeletons in cupboard, the full force of govt machinery DRI CBI etc.. you get the drift!

Robert Vadra posted a message on his Facebook account which read: “Mango people in banana republic.” before closing it.

Read about the Real Estate Bubble and PSU Banks

Value Research: The Realty Bubble 

Vox : Housing bubbles and interest rates

DNA/ Ajit Dayal Are the banks keeping property prices up?

PKDEY: PSU bank loans to realty cos up

Moneylife/Sucheta D: Public sector banks – Loans turning bad

Read about the DLF Vadra Nexus. 

Moneylife/Sucheta D: Kejriwal asks for white paper, SIT probe into Haryana government, DLF and Robert Vadra nexus

FP  Politicians and real estate: Why are we missing the big picture?

Look closely at all the Robert Vadras of Indian politics

Kejriwal breaks ‘Omerta Code’ on DLF-Vadra ‘sweetheart deal’

Plot thickens: Vadra, DLF, and a ‘smoking gun’ of sorts…

Haryana govt is DLF’s agent: Kejriwal’s 5 big allegations

DLF borrows money at 12.38%; lends free to Vadra

Auditors too think DLF and Vadra may have lied about the ‘advance’

 Of course, Robert Vadra is right! We are a ‘banana republic’

BS Vadra: ‘A little help from my friends’

Caste politics and Indian Secularism

In india politics is all about caste and subcaste and religion and minority. No politician is secular and Wiki has a separate page on Indian sham secularism.

While reading this article on the Murder of the Ranvir Sena Chief , I was glancing through the comments and felt amazed …It went like this

Saurav “The Kala Kauaa” Kumar • a day ago • Hide
Hope one day some one Kills Lalu Prasad Yadav (who was responsible for the killing of 100 innocents in Bihar) in same way.
16 Vote up 3 Vote down •Reply•Share ›

drpk • a day ago • Hide
Lalu is king of Dogs!!!
9 Vote up 3 Vote down •Reply•Share ›

mk • a day ago • Hide
Please dont insult Dogs. Lalu is pig, king of pigs
11 Vote up 2 Vote down •Reply•Share ›

Pig • a day ago • Hide
Please don’t insult Pigs, Lalu is Lalu, Husband of Rabri
5 Vote up 2 Vote down •Reply•Share ›

l • a day ago • Hide
Please don’t insult Pigs, Lalu is donkey, king of donkeys
3 Vote up 2 Vote down •Reply•Share ›

Nitish Kumar • a day ago • Hide
Pig: No friends Lalau hai gobar (yadav) kha sada hua aalu…..
1 Vote up 1 Vote down •Reply•Share ›

We all know that the man being discussed is a master of caste politics and jod tod niti, once an invincible force from bihar, now an aging man scared that the chara ghotala will finally catch up with him.

Indian polity is maturing, they have to an extent rejected castist politics for development in Bihar, in UP the picture to me is more confusing as to whether  it was the populist MBA Akhilesh who got the vote or was it thef MU vote bank of his father  Mulayam that brought him to power.

Are an increasing number of  Indian people to rise above religion, mullahs diktats, cast and sub caste while choosing their leader? Or do we have to go a long way for that?

Mixing Political Interests with National Interests – The big PSU Scam !

Samuel Johnson made this famous pronouncement that patriotism is the last refuge of a scoundrel on the evening of April 7, 1775

The favourite hobby of UPA politicians is to justify decisions made for their narrow Political Interests as National Interests, and benefit handsomely from this.

Take the 3G scam… Can anyone believe that only Mr. Raja benefited from it?

Every Indian knows that politicians take cuts … what they detest is the fact that even after taking cuts these politicians cant get the work done, so much so that they are ready to forgive if they see tangible on ground benefits . Take the case of the Late Pramod Mahajan, a witty minister with dealings with Reliance Tele, who ushered in the telecom revolution, which cut per call rate from Rs 20 /Rs 16 to Rs 1.

Currently the Congress UPA is playing the National Interests card to rob the taxpayer, the average citizen and moreso the small shareholders of multiple navratna PSUs and  the policyholders of multiple psus like the Life Insurance Corp of India, which has now become the unofficial bailout mechanism for the disinvestment ministry.

Thankfully activist foreign funds that have invested in such firms, who have nothing to loose, are taking on such company managements and the government, a luxury most Indians cannot afford as they fear the draconian enforcement establishment and harassment mechanism the govt operates.

The Children’s Investment Fund (TCI)  will file a legal suit against Coal India’s board in the next two weeks in additional to the law suit against the government of India under the UK-Indian bilateral treaty.

The nononsense CIO of TCF Chris Hohn added:

The only relevant thing will be the public interest. There is a concept of the rule of law, which is that nobody, including the government, is above the law.
So, if the government advertised that they wanted to give away 2G licences to telecoms for free, that’s not legal. Even if they put it in the prospectus, even if they tell everybody, it’s not legal. Our legal case will revolve around public interest.

Sooner or later the people of India will realise that the system is ripping them off and benefiting only a handful of wealthy industrialists. We think that FSA coal pricing system is encouraging massive corruption within India.

This video is worth watching…

http://www.moneycontrol.com/video/business/will-file-suit-despite-cil-board-decisionfsa_693207.html

And Sharad Pawar got slapped.

Inflation stroking absentee Agri Minister Sharad Pawar got one not so tight slap, and media had a field day and a sudden boost in trps, repeating the clip on the hour.

The pro Congress media, like their political mentors who give them massive add revenue, Padma Shrees, imported liquor and subsidized housing under the prime minister or chief minister quota, condemn Harvinder Singh, who the aam aami (me included) hails as a revolutionary if not a hero, even though they know in their heart of hearts what happened was wrong and the man might have some mental problems. In all probability the real slap was as much directed at MmS, PM, PC and Madam, the Congress UPA bosses as much as it was towards Mr Pawar. Naturally most politicians who dont fear god, have panicked because of the threat of the Aam admi ka haat !

Why have we come to this? Is it an explosion of pent up frustration that this govt is lying to its people on policy inaction, black money protection, on galloping inflation and on massive corruption plaguing the govt of the elite, by the people, that makes policy only for its vote banks, and not the whole of India in general.

Is it because they know that corrupt politicians always get away with their crimes, while honest officials suffer punishment postings aka Kiran Crane bedi and so many other honest bureaucrats?

Senior NCP leader involved in peaceful protests (Mid-day)

NCP leader involved in peaceful train roko protests  (Mid-day)

Is it because people have noticed that the only way our politicians protest is with bandhs and hartals and kam or rasta rokos enforced with threat of violence ?

Why did they all not condemn the violent official accompanying Mr Pawar, the  MPs of Congress and personel that thrashed the black flag wielding Samajwadi activists at Rahul Gandhis rally or the Congress workers that thrashed the mentally unstable man who threatened Janardan Dwivedi with a shoe ? Is it because they were not VVIPs?

The crony media even tried to twist Anna Hazare`s question Ek hi mara kya? when the audience laughed, by attempting to blame him for fanning the flames.

India has the largest body of laws and loopholes which are seldom uniformly enforced, and the politicians bureaucrats and police retain a lot of discretionary powers. Are rules only to be followed by the aam admi and not by politicians, bureaucrats, and crony capitalists or people with contacts?

The anna movement has shown them the true meaning of democracy and they will no more tolerate graft and corruption and oligarchic crony capitalism.

Majority of people follow the gandhian way, but thanks to current political situation and cult favourite movies like Rang de Basanti, there is a steady stream of converts that want to follow the ways of  Bose, Bhagat Singh and others.

Terror and Corruption

As Delhi faced another islamic terrorist attack that has left 11 dead and scores injured.One has tired of repeating that any business including the islamist terror business (well isnt it an organised business? ) needs funding .

And with the politicians at the helm that need the funding channels like hawala to funnel out their ill-gotten gains, and get them swiss banked and whitewashed into pn investments and fii investments, one needs to seriously introspect whether India can ever protect itself from this very repetitive terror threat. The good news for the aam admi is that huff post has picked up on this.Cleo Paskel has a good piece in Huffington post, that details the modus operandi in

“Why Indian Corruption Is a Global Security Concern”

The problem is compounded when these same networks are used by those whose job it is to shut down criminal networks, such as (corrupt) politicians and law enforcement.

As all these money streams combine and flow through the same channels, each participant, from terrorist to politician, needs to protect the whole system in order to protect their own money flow. Very broadly, those common interests result in a division of labour.

As a westerner who has traveled in India she has an understanding of the local political system and is not bound by the local media blanket censure on writing anything about serious corruption especially stemming from the Nehru Gandhi family. Read

World’s #9 Most Powerful Person Now Accused of Corruption – Will She Fall?

Part of the genius of Sonia Gandhi is her ability to present herself as a helpless victim, convincing even her political rivals not to fear her as she is fatally flawed

Question is do we fall for the Ostrich-niti or Suckularism of the Congress, the UP and Bihar strongmen and women and the  JnK politicians who see huge political benefits  in this both because they remain well protected with their SPG cover and reap the vote bank gains of  radical muslim islamist votes,  is it now time that the so called Hindu majority which is broadly secular,  ghetto vote to  throw such politics into the dustbin?

Are people angry enough to vote for Peoples party of India or the BJP..ie anti congress when the credibility of  the BJP or other political parties for that matter is wishy-washy at best.

In Anna Hazare they have seen a viable alternative even if  some of his Ideas such as Prohibition will not be palatable to many, but the IAC has categorically stated that it will not enter politics.

Things will be interesting for this nation.

Vindictiveness of the privileged political class.

As  days go by, each and every member of team Anna is facing the full and collective might of the government, as the govt agencies like the ED, CBDT, Delhi Police etc are all put into action by their political masters  who have been denying their hand in any of the said activities from the onset of this mass agitation…

Guess what the Mahatma whose name the Nehru Gandi family has used so blatantly to promote its political legitimacy says
“I hate privilege and monopolies. I reject everything that cannot be shared with the rest of the people”…  Mahatma Gandhi

As of now the entire Anna team except Anna are all under some kind of investigation or have been given a notice of breach of privileges.

The good bit is that many of the so called intellectuals experts  and unbiased players in the news media as well as those big players in the film industry  stand exposed, as their political leanings are in plain sight.

Chk out Aap Ki Adalat

Om Puri speaks at Ramleela Maidan .

This is a passionate actor making a speech straight from his heart…

Hear Om Puri speak

Short version

One of the most inspiring things he said was that a person should change his own fate instead of depending on politicians. I think he voiced the Aam Admi`s views .

Naturally the English language media like Star news, Firstpost,  has called his speech among other things  uncivil, wobbly,  slurry and crude.

Strangely they did not find anything wrong in speech made by Laloo Yadhav in parliament especially his trivializing  of  Anna`s fast etc at 2.30 and 4.30 in the video while he was cheered on by parliamentarians.

Sharad Yadav was no better , and both are marginalized politicians at best and i hope their days in the parliament are numbered.

Yes , Kiran Bedi`s antics were in bad taste , but the way honorable parliamentarians have behaved in the recent past , and with her record of a cop who has dealt with crooked MPs all her life, it may have been her venting out her frustration, and my respect to parliamentarians would have increased many fold if they would have shown more maturity just as Jaitley suggested.

Naturally our immature MPs moved privilege motion against Bedi, Om Puri‎ .

Day 12 Late Noon Anna Hazare still on fast !

Prashant Bhushan has categorically come out and talked about the about face the current Congress UPA govt , which wants only to talk under 193, but not put up a resolution…and wants to convey the sense of the house at the end of it. The Anna team feels cheated!

Worse Congress blames the BJP of not agreeing towards a resolution. BJP`s stand needs to be clarified.

Arvind Kejriwal says that Congress says that BJP will vote against that resolution, which sounds rather amazing because Congress still has a majority in the house.

BJP has moved for motion under 184 yesterday in support of  Hazare…

Congress wants only to make this a general talk in the parliament …even today no vote or formal resolution!  Seems like parliamentarians generally agree but don’t want to specifically agree to Anna Hazare`s terms…

Given the history of this govt to making an about face, i don’t think Anna would budge and would take the Prashant Bhushan stand.

Shanti Bhushan says that Salman Khursheed had agreed to a favorable resolution being passed today in Parliament.

Arnob of  Times Now is now taking the stand that Prashant Bhushan is becoming hardline…  which is again a little shocking.

Navika Kumar Times now, says she has spoken with Jaitley of BJP, who is in agreement with Annas resolution.

3.30pm Dr Chandan Mitra is on Times now and is shocked with the Govts behavior, and states that its parliament that will decide on the voting or non voting clauses of the resolution, and has said that the discussion was non voting.

Is BJP doing a political Hari-keri? What do we make of it

3.30pm Vinod Mehta of outlook (Pro Congress), has come down hard on BJP, blaming it for the impasse.

4.15 pm Swaraj states BJP to vote in favour of all the 3 sticky demands in both houses of Parliament.

Is it time the Congress UPA starts to count its days in power?

5.00pm Congress seems to be in a state of mess and chaos thanks to Madam Sonias absence , and absence of  leadership of either MMS or Rahul Gandhi.

5.10 A message has gone to Team Anna and IAC from congress that it is ready with a draft resolution which it wants vouched …. Aaj Tak

The resolution is expected be voice voted.

Day 12 into Anna Hazare`s fast

Anna Hazare has 3 simple demands, that most people agree on. I think the Parliament should pass a resolution today so that the fast is broken asap . Lets see if the thick skinned parliamentarians especially from Congress will move forward now that BJP is on board.

Situation as of now:

1. Anna Hazare`s3 key demands to break his fast are :-

A resolution to be moved in Parliament which contains

• All civil servants should be brought under Lokpal
• A Citizen Charter should be displayed at all government offices and
• All states should have a Lokayukta.

Fingers crossed!