The great Indian rupee hit a new low cross Rs. 69 per US dollar and recovered some. And this is the ever. The Reserve Bank of India is trying different ways to stop this even reverse it. So what is causing all this. The currency markets like stock markets and commodity markets are reacting to ==> concerns about trade wars but not about actual wars luckily, the US economy is really strong and getting stronger due to tax cuts and reduced regulations and the Federal Reserve (the Reserve Bank of USA) is raising US interest rates are high.
As well know, India is going through many positives. Growing economy, stable political situation, strong government, improving business climate and ease of doing business, absence of scandals and major corruptions which is going down, GST has been a big plus amongst others.
But world markets are moody fickle (Yes even them just like us !) – they are thinking today and tomorrow at best.
SO THE RUPEE WEAKNESS IS MORE DUE TO EXTERNAL FACTORS – A STRONG US DOLLAR AND US ECONOMY, AND NOT A REFLECTION OF INDIA. Not just India – currencies of many countries are experiencing this.
- 20 Jul 2018
So shocking – Mother Teresa’s (who several suspected of hiding many truths of illegal activities) charity is learnt to be selling babies to raise money. According to OpIndia, “they take in unwed mothers who have no place to give birth to their children and then sell those babies to childless couples“. This is their business model of how to raise money. These organisations are getting even more desperate with such activities as government of India is clamping down on uncontrolled foreign funding. Our intelligence agencies have been saying for long time that such foreign funding is being used for either aggressive and illegal proselytization or conversions of people of Indian’s original / native faith or to fund terrorist operations.
Most with such charities, and there are so many of them, this is only the tip of the iceberg – there could be many more problems.
- 6 Jul 2018
So true as Prime Minister said, so many Indians are coming forward and ON THEIR OWN WITHOUT ANY PRESSURE giving up government benefits owed to them. PM said already 42 lakh senior citizens did not use the senior citizen pass for travel and instead paid for their tickets in just 9 months and over 1.25 crore more economically well to do Indians did not take advantage of the LPG gas subsidy.
THIS IS IN A SHORT PERIOD OF TIME AND DONE VOLUNTARILY. As tracking such data is difficult, it is even possible that these numbers are low. As the word spreads and people feel good about doing these things, many many more people may come forward. As PM said, people’s innate honesty is coming out as as their need for nation building.
Source: Money Control
- 5 Jul 2018
Government of India had opposed “Instant” types of Triple Talaq leading to the Supreme Court passing judgement banning this practice and making it punishable by law. Parliament is in the midst of amending the law to make it illegal.
The Supreme Court will hear the continuation of that case which also sought banning of both “Nikah Halala” and polygamy. Nikah Halala, which is less widely known of, is when a man marries a woman and later gives her talaq, he cannot re-marry her unless she is married to someone else. Petitioners feel this practice has led to lots of abuse and injustice against the affected women.
The Indian government’s stand per court affidavit is that “large Muslim population where Islam is the state religion have undertaken reforms in this area and have regulated divorce law and polygamy”. Same is the case for Nikah Halala. The government stand is that issues of instant triple talaq, Nikah Halala and polygamy have to be viewed from “principles of gender justice, principle of non-discrimination, dignity and equality”.
WE WHOLEHEARTEDLY AGREE WITH GOVERNMENT OF INDIA’S LEGAL POSITIONS ON THESE MATTERS AT THE SUPREME COURT…
- 2 Jul 2018
Many of us are not either extremely rich or really poor, but we know about extreme poverty – it is and has been all around us for our lifetime. However, things are slowly getting better. A non-Indian report (note that – this is not a government report) has said 44 Indians, which is nearly 10 or 11 families are coming out of extreme poverty each minute. India’s poverty rate was over 50% for a long time but has been slowly dropping and this report says we could hit ZERO poverty by 2030. While good to read, for those affected it could not be fast enough. While this is happening, more people would be moving up from lower economic levels to the middle class – and all this is happening right before our eyes…
Actions, factors that will help to move faster are happening now – fast and faster growing economy, stable political environment, corruption is going down (really big!), faster infrastructure development, good policies – and much more. Our personal feeling is we will achieve the targets faster at higher quality meaning – more people moving up the economic chain…
- 29 Jun 2018
Leading up to the just concluded Ramzan, JK Government wanted a ceasefire to the terrorist operations – Central Government agreed even though security forces did not want this. This suspension of operations was the first in 17 years. So what happened – the terrorist and their sympathizers saw this as a free run, even though it was Ramzan.
Indian Government said that, “It was expected that everyone will cooperate. While the Security Forces have displayed exemplary restraint during this period, the terrorists have continued with their attacks, on civilians and SFs, resulting in deaths and injuries,” he posted.” SO THIS WAS REALLY UNFORTUNATE.
BJP has decided to pull out of its historic alliance with PDP in ruling the state. The official reasons given were, “Fundamental rights of citizens including right to life and free speech are in danger“. While this is powerful in itself, there are many other unsaid reasons – illegal Rohingya settlements, one community (no surprise to guess this) and one region gets favourable treatment, corruption in the J&K government, and many others.
Source: Indian Express
- 19 Jun 2018
Till now, almost all government of India and even state level jobs are taken by those in the civil service ranks. They have taken the civil service exams in their 20s and generally with time get promoted and get senior positions, some out of turn through influence and some out of merit. Now Government of India wants to bring in talented senior executives directly into senior positions such as at the joint-secretary level. This is a great move for India but obviously create even more shocks for the civil service who look forward to getting into these plum and influential senior positions. No doubt there will be resistance but if it good for India, we should go ahead…
Source: Times of India
- 15 Jun 2018
Former President of India, Pranab Mukherjee has accepted the invitation to speak at the convocation of RSS pracharaks… this is the RSS – which is the largest non-political organisation of its kind world over. The Congress party and all its leaders are shocked as Shri Mukherjee was with the Congress for over 50 years before being elected to become the President of India.
Congress which only highlights its secular credentials has decades, right from Nehru and Indira Gandhi been against the RSS and its ideology (no matter that it is all about nationalism), HAVE CONSIDERED THE ORGANISATION AS UNTOUCHABLE EVEN.
In recent years, the Congress party which has gone on to further please minorities and highlight its secular credentials. And as a result has been even more critical of the RSS – one is left to wonder if this is valid criticism, do they understand what this organisation’s goals are, what are its beliefs, what are its day to day activities, are they open and transparent or visible to the public, how do communities view them, what services and emergency assistance they provide and much else.
Congress leaders have now frantically written letters to the former President to cancel its acceptance, some are even suggesting as to what should be said during the convocation address. Most others are nervously waiting to hear the speech…
- 30 May 2018
Over 120 crore people are enrolled in Aadhaar and India is adding one the size of Singapore each week to Aadhaar. Advanced countries and mostly smaller ones have it like social security numbers, and given India’s size, it should provide much greater benefits.
So what are these:
- for businesses it helps to avoid bloat in their expenses when adding new customer or employees;
- for government it prevent leakages like lakhs of ghost teachers on the government payroll;
- for individuals – once you have the Aadhaar, there is now no discrimination about who / what demographic you are;
- wherever you go in India from Kerala to Arunachal Pradesh – you would get the same experience;
- if you had faced a disaster – Aadhaar should allow to get back your identify and eventually life, and much more.
Further state-of-the-art can be made to it, and government needs to provide better education about it and how it should be used. Surely, these will all happen in time, but all in all AADHAAR IS GREAT THING AND GOOD FOR INDIA…
- 13 Feb 2018
Different taxes and fees are critical and the main source for income or revenue for the central government.
So from where and how does it gets its money:
1) Income Taxes generates over 23% – of the countries 120+ crore population, only 2 crore returns are filed and around 1.5 crore pay any taxes of, but these are going up;
2) Corporates pay around 28% of the total taxes and this has gone down due to lowering of tax rates;
3) Customs duty brings in around 13%;
4) Excise duties bring in over 21%; and
5) Alcohol, Tobacco taxes and other duties bring in the rest.
So let us remember that paying taxes is really important to have a functional government and a country that is advancing in so many areas.
Source: The Hindu
- 2 Feb 2018
Kairna in UP, which lies north of Delhi and Meerut got its bad name as it was reported that hundreds of Hindu businessman and local population had fled their homes and livelihood due to numerous cold blooded daylight murders of its community by gangs – which naturally sent shock waves. It was also reported that the gangs made up mostly Muslims who targeted almost exclusively Hindu citizens for ransom money, local youths harass young Hindu girls and other crimes. In addition, due to earlier UP governments, these gangs enjoyed political patronage with less fear of police action. Not any more.
It is reported that police under the new government has arrested over 50 criminals and a few of the leaders were killed in police encounters. Normalcy is slowly returning. Further, the adverse demographic mix of the Hindus and Muslims have not helped. This mix which was 52-48% Hindu to Muslim in 2011 is now more than mostly over 92% Muslim. But so what? Why should any Indian have to run from their homes due to lack of personal safety in any community – this certainly does not feel like an India most are familiar with?
Sadly, such events have taken place in Kashmir, continues in Bengal and even in Kerala. Most of our media does it best to hush it up – yet another shock.
- 24 Jan 2018
By law, property left behind by those who left India for Pakistan or China and took up respective citizenship during partition are treated as enemy property. So far, nearly 9,500 enemy properties have been confirmed with a estimated value of Rs. 1 lakh crore which are to be auctioned by the Indian Government – with the proceeds going to government coffers. The government advises that nearly 9,300 properties were left behind by those became Pakistan citizens and nearly 200 by those who became Chinese citizens. Even though these properties are spread all over India, the biggest chunk are in Uttar Pradesh (4,991) followed by Bengal (2,735) followed by Delhi (487).
Source: Indian Express
- 22 Jan 2018
Before the current government, Indian businesses and corporate houses had the unwritten assurance that if they failed or defaulted on their loans, the government of India would step in and provide relief or support. Companies borrowing excessively or gave loan guarantees to enable other companies to borrow. With Indian parliament passing the Bankruptcy law, companies get no special favours either written or unwritten. If a company defaults on a loan or a loan it provided a guarantee, then it could end up in bankruptcy proceedings with creditors making claims against the remaining value or assets of the company. In fact legal collection proceedings have been started against more than 400 companies with the list expected to balloon. Based on recent experiences of Ruia losing control Essar Oil and Essar Steel and Vijay Mallaya losing his ownership, promoters could lose big. While there is going to be lot of pain, the longer-term benefits are likely to be end of reckless borrowing, more equity by promoters and tax payers – which is all of us sharing and future losses and not taking 100% of the losses.
- 9 Nov 2017
With consumer complaining that some businesses, shops, malls, restaurants adding GST to the MRP and jacking up the price (some real confusion but some fleecing the consumer), government is taking confusion out of this. For example, some shops were adding GST to purchase and some were not. Now for all products the maximum retail price (or MRP) must include GST.
With GST and its country-wide uniform tax structure, products will cost the same or nearly the same in any part of India!
This will help to reduce confusion and corruption indirectly.
Source: Business Today
- 2 Nov 2017
The government now plans to spend heavily on massive infrastructure development, nearly Rs. 7 lakh crores to build and upgrade roads and bridges, to boost the economy and to create employment.
The plan is to build nearly 90,000 kilometers of roads to connect 17 states and 40+ major metros-economic corridors. It includes super highway, border and coastal roads.
Funds will be generated from loans, public investment and government funds.
Source: Daily Pioneer
- 29 Oct 2017