Discover and read the best of Twitter Threads about #Budget2019

Most recents (24)

A thread.
1/n
Okay, guys, listen up all ye interested in India's public finances. With 9 months data now in, on this site: cga.gov.in/MonthlyReport/…

what do we know about how the #NDA2Govt is managing the economy?
2/n
Quite simply the situation is even worse than it was at the same stage in last financial year. COPPY stands of Corresponding Period in Previous Year. Remember 9 months is 75% of the year behind us.
3/n
Total revenues (that includes windfalls from RBI raids) is at 58% of what was estimated in #Budget2019. Tax revenues are even worse, 55% (you'd expect 75%) The shortfall is in fact 3.25 lakh crores that is 20% less than waht it should be at this stage of the Year.
Read 13 tweets
THREAD

What did #famers get in #Budget, where @nsitharaman claimed, "Our Govt is committed to the goal of doubling farmers income by 2022"

P.S-Acc to Dalwai committee,"real income of farmer, should increase by 10.4%/year,which has been increasing less than 2.5% in last 5 years
@nsitharaman @_YogendraYadav @aviksahaindia @sayantanbera @seemay @Ghair_Kanooni @Subytweets @sritara @srinivasanravi @DrSarvapriya @RURALINDIA Govt allocates 9.3% of the budget to #Agri, allied,irrigation & #rural development, which was 9.8% last year. Factoring Inflation, Real Increase in allocation is actually negative.

Is this enough ?
Will this increase #farm income, prop up #rural demand ?

@mkvenu1 @PreetiSMenon
@nsitharaman @_YogendraYadav @aviksahaindia @sayantanbera @seemay @Ghair_Kanooni @Subytweets @sritara @srinivasanravi @DrSarvapriya @RURALINDIA @mkvenu1 @PreetiSMenon Govt allocated 1.58 lakh crore to #agri, allied sectors & irrigation i.e. 5.2% of the total budget. Last years budget had allocated 1.52 lakh crore, which was 5.45% of the budget i.e. reduced spending !

👉Will this double #farm income by 2022 ?🙄
@rssurjewala @MonaAmbegaonkar
Read 17 tweets
WHY ARE WE BORROWING TO FUND BUDGET?

Sometimes, I want to assume that WE DON'T KNOW, so we make some posts not because we want to attack. With that at the back of my mind, I will attempt to respond on my page for the benefit of all.
#WhyBorrowing

premiumtimesng.com/news/top-news/…
"If FIRS can net N4trillion in less than a year, then why are we borrowing to fund the budget?...That was what my friend on Facebook said.
So I tried to respond to him within the limit of understanding I have at the moment.

#WhyBorrowing
1. Although my friend is a PDP supporter, I want my friend to know that revenue generated is not APC revenue, it is NIGERIA revenue, hence it affects all Nigerians irrespective of party affiliation.
Read 30 tweets
#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.
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
Read 16 tweets
HOUSE RESUMES PLENARY.

ADDRESS BY SPEAKER FEMI GBAJABIAMILA AT THE RESUMPTION OF PLENARY BY THE HOUSE OF REPS.

”It is my pleasure to welcome you all back to the chamber after the annual recess..” — Speaker @femigbaja ImageImageImage
”Before we adjourned the House, a significant amount of work had already started. We had begun legislative action through the consideration of several bills including Electric Power Sector Reform Bill, Physically Challenged bill etc.” — Speaker @femigbaja Image
The House of Reps will consider important legislation such as the Petroleum Industry Bill (PIB) which is important if we are to properly address the structural, operational and policy challenges in Nigerian Petroleum Industry...” — Speaker @femigbaja Image
Read 9 tweets
🔴PREMIERES at 9:15pm ET:

"The $3000 figure is the much broader figure that really gets to the heart of the success of this president's deregulatory agenda."

@RussVought45 talks #Deregulation on American Thought Leaders 🇺🇸 with @JanJekielek
@RussVought45 @JanJekielek 🔴LIVE:

"If you break the debt up into how much people owe, are they getting that much in value from the federal government? My suspicion is that they're not."

@RussVought45 talks about the #Budget2019 on American Thought Leaders 🇺🇸 with @JanJekielek
@RussVought45 @JanJekielek "[Trump] is a fascinating person…he's an incredible quick study…I wish more Americans had an opportunity to interact with him."

@RussVought45 talks about President Trump on American Thought Leaders 🇺🇸 with @JanJekielek

Watch:
Read 3 tweets
#Budget2019 proposal on #electricvehicles is good step. Ironically, #Indian middle-class can't afford the expected price of cars being planned to be launched. Estimated price = ₹10 - ₹30 Lakhs. #Infrastructure after sales is also not there! @anandmahindra @odmag @nitin_gadkari
Request @nitin_gadkari to give an #infrastructure push for #electricvehicles & also with good features starting from ₹5 Lakhs onwards (on road price) with lowest slab of #GST. @anandmahindra

'Dreams can become a reality, if it comes into action, not just in talks or speeches.'
Came to know that @MahindraElctrc under the leadership of @anandmahindra offers lowest price i.e. ₹6.50 Lakhs on road, of one of the variant of #Mahindra #e20. #India needs more, if Mahindra can then, @TataMotors @HyundaiIndia @MSArenaOfficial @ToyotaIndia
& others also can!
Read 3 tweets
Thread
#Missing1Point7Trillion #India #Budget2019, #EconomicSurvey2019
Keen followers of India #Budget #Shenanigans would have followed, or tried to follow the complex arguments made by 3 non-Govt commentators in this @NDTV programme: 1/n
Jayati Ghosh, Pronab Sen and Nitin Sethi pointed out that figures that appeared in @SubramanianKri's Economic Survey did not read across into @nsitharaman's glossy #Budget2019 presentation. They based their arguments on reading the small print in both these weighty documents. 2/n
@kaul_vivek, that great explainer of complicated financial smoke-and-mirrors made the same point about a missing 1.7 lakh crores (LC for short, 1 LC = 1 trillion) from the 2018-19 budgeted revenue and expenditure. See his excellent write up here: livemint.com/news/india/how… 3/n
Read 15 tweets
They call this #Budget2019 visionary

Let me explain my views on it
1. When Automobiles companies are struggling they are talking of giving incentives to E vehicles

What happens Now? Like now

Already car dealers shutting shop. Job losses. But instead of addressing current problem they talking two years ahead
2. Real estate non giving possession to buyers. Poor buyers paying both EMI for property not in site as well as rent

RERA should have been introduced retrospective. Builders launched new projects, ignoring ones before RERA
Read 11 tweets
Despite having a monopolistic situation in many businesses, many #PSUcompanies haven't generated attractive #returns for their #shareholders. More than for #investors, the govt. is likely to benefit by the provision of allowing 80C deduction on #investments. #Budget2019
PSU #ETFs have a high portfolio concentration & single sectoral exposure. For eg. CPSE ETF holds over 60% of portfolio in energy sector & top 4 stocks constitutes over 75% of portfolio. Similarly, Bharat-22 holds 55% of portfolio in top 5 stocks. #Budget2019 @TheEconomist
#Investors having primary objective to #savetax, cannot ignore the performance of #ELSS #mutualfunds. Fund manager, considers number of factors like macroeconomic indicators, financial strength of a company & its competitive advantage etc. while constructing portfolio.#Budget2019
Read 5 tweets
What does #Budget2019 say about the GOI's vision of New India:
1) India is now truly treading the welfare route - pensions by the state to ever larger groups of people, farmers, small shopkeepers. Interest subvention to women in SHG.
2) The money required for more & more infra development, the socialist schemes will come from : Direct Taxes, Disinvestment and Borrowing.
Direct Taxes and Disinvestment are common tricks, only new trick is the borrowing in this budget.
3) The Disinvestment Well of PSUs will run dry in the next 2 years. Given GOI's voracious appetite for welfare schemes where will the money for these schemes come from in the future? Will mules called "Tax Payers" die to fund the govt? @narendramodi @nsitharaman
Read 11 tweets
Though #Budget2019 claimed to be a #bahikhata , it is more of a vision, not revenue & expenditure projection,which a bahikhata as the name suggests, is supposed to be !/1
Till 1991, budget wud consist of only figures.
Vision appeared for the first time in1991,
#NewIndia of Modi govt gives only vision (no figures), a #new trend for a positive approach & a feel good attitude/2
According to World Bank figures, in 1964 India was at rank 7th with 56 billion dollar economy (total world fig stood at 1.8 trillion dollars)
In 2019 when total world fig has reached 87 trillion, India's GDP is 2.6 trillion dollars ../3
Read 9 tweets
Budget Takeaways for Various Sectors(Equity Impact Sector wise): ( Long Thread)
#Budget2019 #investearnrepeat
AIRLINE : POSITIVE
• aircraft financing and leasing activities from Indian shores
• Postive for Interglobe Aviation and Spicejet
AUTOMOBILE : NEGATIVE
Customs duty has been increased from 7.5%/10% to 10%/15% on automobile parts
• Negative for Auto OEM companies like Maruti, Hero , Bajaj Auto, TVS Motors, Eicher , TaMo, Ashok Leyland.
• Interest upto Rs. 1.5 Lacs shall be allowed as deduction for the purchase of EV w.e.f 1/4/20. (Positive for EV)
• Special Additional Excise duty by Re 1 per litre and Road and Infrastructure Cess by Re 1 per litre each on petrol and diesel.
Read 16 tweets
Today's Mint has some detailed stories on the #Budget2019 along with stunning artworks by Jayachandran. Image
I've written a piece on jobs, moving fwd from dry stats and figures. It's a profile of a delivery exe for Amazon orders in way-out Wayanad. Stakeholders in a new India like him are chasing app-driven jobs/gigs, abv market wages, and, wherever possible, a formal jobs contract. Image
As jobs go, so does the nation. “Joe six-pack, who drinks beer and watches college football, makes $50,000 a year, and Ram-bharose makes ₹50,000 a year. It’s got nothing to do with Joe six-pack and Ram-bharose, it’s about being productive.’’

livemint.com/budget/news/jo…
Read 4 tweets
Not a word yet on privatisation. Close to a fifth of our annual budget (of 27 lac crore) goes in propping up PSUs, most of them sick. Public bank NPAs now stand at $131 billion.

Unless this govt stops being in the business of doing business, I see no hope. #Budget2019
Forget privatisation or disinvestment. Yahan toh ulti ganga. #Budget2019
I will believe this when a private company buys the govt company, and not how it has been happening in the last 5 years - a govt company buying a govt company and the govt calling it disinvestment and everyone applauding this BS. #Budget2019
Read 3 tweets
FM says, govt. is dedicated to ideals of Lord Basaveshwara. Quotes him in Kannada "Kayakave Kailasa" (Work is Worship").
FM says, will consolidate multiple labor laws into set of 'four labor codes'. #budget 2019
FM says, new television channel for startups to be set up. #budget 2019
Read 21 tweets
You know what we haven't had in this Budget so far? Any budgeting. Lots of aims, no allocations. #Budget2019
DD-Startups has been announced. All problems now solved.
It's been over an hour. Targets, achievements, promises -- but not a single budgetary allocation. This simply does not happen in a Budget speech....!

Read 6 tweets
#Budget2019

This thread details announcement made into budget and what average middle class would get from it.

Totally My work
Two goals for country future
1. National Security
2. Economic Prosperity

Imp : Last mile Delivery was prime target

#Budget2019
#Budget2019

Food security amount spend doubled in last 5 years
Read 26 tweets
Finance Minister @nsitharaman: India will become a $3 trillion economy this year #Budget2019
Finance Minister @nsitharaman: Many structural reforms need to be undertaken #Budget2019
Finance Minister @nsitharaman: Will reach $5Trillion in the next few years #Budget2019
Read 41 tweets
#Budget2019 Starts. (Thread)
When our hearts are filled with hope, trust and aspirations, we added $1 trillion in 5 years. GDP. Okay.
After a lot of fluff, we are now on.
Read 83 tweets
#BudgetwithMint|
Speech begins with a reference to 'new India' and the election result. Taking it as a validation of the performance of the government.
Validation of the two goals - national security and economic growth
#Budget2019
#BudgetwithMint|
Mazboot desh ke liye mazbooth nagrik
Empower the citizen to make the nation strong
Refers to Chanakya: Determined human effort leads to task completion
#Budget2019
#BudgetwithMint|
Vision for the decade:
Goal of USD 5trillion is the focus. The vision for the decade in 10 points.
Social infra, digital india, pollution free, make in india, water, space, self sufficiency in food grains and export, medical, clean India
#Budget2019
Read 83 tweets
Updates from #Budget2019 with @moneymantrainfo - Watch out all the news on budget (tweets / thread whole day..) 📊📋
#Budget2019 - Indian Economy : A Snapshot 👇
Sitharaman discards briefcase, goes for 'bahi-khata' #Budget2019
#BudgetForNewIndia
Read 37 tweets
It’s hot. I have 2 phones. And the tie will have to go soon.

Stay with me though, this *is* quite an interesting 🇮🇳 #Budget2019.

It’s a rushed post-election one, under a new finance minister - Nirmala Sitharaman. She is, btw, the first full-time female occupant of the role. Image
Sitharaman, who reportedly once worked in sales at a furniture store on London’s Regent Street, will have to balance Narendra Modi’s many spending promises in the recent election with a slowing Indian economy, suffering from lacklustre investment.
There are plenty of signs that consumption - that middle-class spending spree that fuelled the Indian economy over the past few years - is declining significantly.

And then there are factors such as trade wars, sanctions on Iran that could push oil up, and a delayed Monsoon.
Read 4 tweets

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