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#CorporationTax #AltSarkar's view and commentary.
First the good news: FM @nsitharaman’s corporate tax cut is a clear sign that #ModiSarkar is worried about the state of the #Indian #Economy. That’s good because it means she acknowledges the scale of the #budget2019 cock-up.
First the good news: FM @nsitharaman’s corporate tax cut is a clear sign that #ModiSarkar is worried about the state of the #Indian #Economy. That’s good because it means she acknowledges the scale of the #budget2019 cock-up.
Now the bad news: a day earlier, @RBI Governor, @DasShaktikanta, said that the Government’s fiscal space is limited. This means: don't cut taxes, don't spend more than budgeted. He also said, spend resources 'fruitfully' i.e. to get the 'most bang for your buck'.
And now the even worse news: this 1.5 Lakh Crore tax giveaway is neither necessary nor sufficient, in and of itself, to solve the problem that spurred it - the slump in economic growth. Like antibiotics that neither help a common cold, nor make the body stronger. Here's why
Anybody interested in #India's #Economy should take 30 minutes time out and listen to this interview. There is both sound, credible analysis of the problem AND an entirely logical policy prescription. #AltSarkar @PIB_Altsarkar @fek_le @Vidyut
thewire.in/video/watch-ce…
thewire.in/video/watch-ce…
A quick summary:
1. Our present problems can be traced back directly to the stupid, stupid move on Nov 8 2016 when 86% of the means of settlement of dues was taken out. Damn that #Demonetisation. We in #AltSarkar have to acknowledge it even if its defenders do not.
1. Our present problems can be traced back directly to the stupid, stupid move on Nov 8 2016 when 86% of the means of settlement of dues was taken out. Damn that #Demonetisation. We in #AltSarkar have to acknowledge it even if its defenders do not.
2. India's problem is a demand side problem. People have neither the free disposable cash now nor the confidence in their future to take a loan to go out and buy stuff.
3. You don't deal with a demand drop off by propping up supply side factors. #AltSarkar believes in logic
3. You don't deal with a demand drop off by propping up supply side factors. #AltSarkar believes in logic
1. Ownership of Trees.
Trees are OUR shared heritage.
Living Treasures of our Environment.
Trees should NOT be allowed to be destroyed without going through an exhaustive consultation process that includes full delibration and consent from ALL the stakeholders concerned.
Trees are OUR shared heritage.
Living Treasures of our Environment.
Trees should NOT be allowed to be destroyed without going through an exhaustive consultation process that includes full delibration and consent from ALL the stakeholders concerned.
The Stakeholders.
2. The following stakeholders will be involved.
a) General public - comprising 5 student representatives each from schools and colleges and 10 people who will be local planners or architects or environmental/sustainability experts.
2. The following stakeholders will be involved.
a) General public - comprising 5 student representatives each from schools and colleges and 10 people who will be local planners or architects or environmental/sustainability experts.
A simple understanding of the slowdown that has gripped us since 2015 (we are discounting all growth numbers put out) #EconomicSlowdown
Demographics bite–India’s Unemployment rate has spiked from 3.5% in 2010 to over 6% in 2018 : some estimates put this no. At over 9% for 2019
Demographics bite–India’s Unemployment rate has spiked from 3.5% in 2010 to over 6% in 2018 : some estimates put this no. At over 9% for 2019
Gross Domestic Savings rate as a % of GDP has fallen from 34% in 2010 to 29% in 2018 – FYI we grew from 22% in 1991 to 26% in 1995 and from 28% in 2003 to 34% in 2010 (the so called boom years)
Gross Investment has fallen from a high of 41% of GDP in 2012 to 32% in FY 18
Gross Investment has fallen from a high of 41% of GDP in 2012 to 32% in FY 18
Subsidies remained flat during 2014 – 2018 (marginal increases ) compared to a near 6X increase between 2005 – 13 (putting more money in the hands of the consumer).
STAGFLATION in the Rural Economy between 2014-2019 did not help
STAGFLATION in the Rural Economy between 2014-2019 did not help
To: @Alt_PM of #AltSarkar
From: AltSarkar_FM
Thank you for asking me to take on this role. I shall do my best. At a time when the Govt has had to raid @RBI reserves, it is clear that we are in deep shit. A fresh start will mean agreeing some home-truth principles
From: AltSarkar_FM
Thank you for asking me to take on this role. I shall do my best. At a time when the Govt has had to raid @RBI reserves, it is clear that we are in deep shit. A fresh start will mean agreeing some home-truth principles
The world does not owe us a living, We have to work for it and work hard. We have to live within our means, while at the same time improving our prospects through investments in education, health, welfare so that each year we grow richer, stronger, healthier.
We grow richer only by being more productive. That means, in simple terms we produce for each worker more this year than we did last year. Productivity growth is everything.
I thank Alt-PM @vidyut for giving me the responsibility of Parliamentary Affairs Minister. This is my chance to #MakeParliamentGreatAgain!
So our #AltSarkar is going to hit the ground running.
This is the plan 👇
So our #AltSarkar is going to hit the ground running.
This is the plan 👇
1) We are increasing the days of Parliament sittings from 70 days, which is the current annual avg, to 140 days. Simply increasing number of days will give more time for your representatives to discuss and deliberate laws.
Why hurry & bulldoze laws through?
Take your time!
Why hurry & bulldoze laws through?
Take your time!
2) We are giving one day a week (Thursday) to the opposition! We call it, "Oppose the Sarkar Day".
On these days, opposition will set the agenda. They can raise any matter they feel important & speaker of the day will also be from an Opposition party.
No. More. Disruptions.
On these days, opposition will set the agenda. They can raise any matter they feel important & speaker of the day will also be from an Opposition party.
No. More. Disruptions.
Welcome once more to #AltSarkar.
We will now be continuing with our cabinet announcements.
For those tuning in late, this means I will be announcing the portfolio, after which, the Alt-Minister will explain their plans in their role.
We will now be continuing with our cabinet announcements.
For those tuning in late, this means I will be announcing the portfolio, after which, the Alt-Minister will explain their plans in their role.
This is more time consuming and we would like to have your unfatigued attention, because we have put effort into these speeches, so we will stop after several portfolios are announced and again continue at a later date. #AltSarkar
Without further delay, I would now like to introduce you to Ashok Swain @ashoswai, Alt-Minister of Defense.
#AltSarkar
#AltSarkar
Thank You Madam PM @Vidyut for giving me the honour of serving this great nation as a Union Minister for Law.
As a practising Advocate, I'm well aware of the challenges before the justice delivery system. Being an insider, someone who deals with it, someone who worships it 1/4
As a practising Advocate, I'm well aware of the challenges before the justice delivery system. Being an insider, someone who deals with it, someone who worships it 1/4
Someone who takes a great pride in it, someone who rues the inadequacies of it, someone who's shocked by the pendency, intrigued by the casual approach of the stakeholders, appalled by the ignorance of founding principles of the Constitution amongst judiciary -
#AltSarkar 2/4
#AltSarkar 2/4
I'm determined do my bit for restoration of the majesty of the justice delivery system. I am determined to do my bit for making Courts / Tribunals the temples of justice as against - as some lawyers jokingly say - cooling chambers.
#AltSarkar 3/4
#AltSarkar 3/4
#Altsarkar I am extremely honoured & humbled to be chosen for the Ministry of Textiles #AltSarkar_Textiles /1
#AltSarkar Respected PM @Vidyut ji I assure you of my services towards looking after this key sector. I vow to work to the best of my capabilities & seek your guidance in this pivotal and fulfilling task/2
#AltSarkar My immediate concern being, a third of textile work force glaring at job loss. Textiles & readymade garments' exports have witnessed a fall for being not competitive enough, whereas Vietnam, Bangladesh, Sri Lanka have low production cost & lesser trade barriers. /3
