Discover and read the best of Twitter Threads about #SmokeAndMirrors
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#SHOCKER !!
#Budget2023 #CAPEX growth of 30% Year over Year is just a game of #Smoke & #Mirrors (the hallmark of #Modinomics) .... if you recall, I mentioned that "Devil Lies in the Detail"
Entire Story in 1 Chart. Combines Central Govt & PSU Capex excluding dirty tricks.
#Budget2023 #CAPEX growth of 30% Year over Year is just a game of #Smoke & #Mirrors (the hallmark of #Modinomics) .... if you recall, I mentioned that "Devil Lies in the Detail"
Entire Story in 1 Chart. Combines Central Govt & PSU Capex excluding dirty tricks.
@nsitharaman budget numbers for CAPEX includes items below
1) 50yr Loans to the States (much of this is consumption by state & double counted)
2) Loans to Food Corp India (Rations & MSP)
3) Capital Infusion is Loss making PSUs to pay Salaries & O/p Losses (BSNL, Air India)
1) 50yr Loans to the States (much of this is consumption by state & double counted)
2) Loans to Food Corp India (Rations & MSP)
3) Capital Infusion is Loss making PSUs to pay Salaries & O/p Losses (BSNL, Air India)
These 3 items are NOT Capex .... so when does an Apples to Apples comparison, these adjustments needs to be made...
In short Central Govt & Off-balance sheet or PSU Capex is ONLY 3.8% of GDP (Lower than pre-covid) vs say 4.5% of GDP in FY10
In short Central Govt & Off-balance sheet or PSU Capex is ONLY 3.8% of GDP (Lower than pre-covid) vs say 4.5% of GDP in FY10
lnkd.in/eZCPufeu PEOPLE: A BID TO RIG ELECTIONS UK, TORY VOTER ID LAWS LOOK LIKE AN ATTEMPT TO RIG OUR ELECTIONS, NOT IMPROVE THEM It’s not too late to avoid the disenfranchisement of the poor and the young before the next general election.
lnkd.in/eZCPufeu EXTRACT ‘Rishi Sunak may this week have been battered and bruised by strikes and U-turns, but he has at least made it past one key milestone:
lnkd.in/eZCPufeu his 45th day in power today means he managed to stay in office longer than Liz Truss did before she announced her resignation.
@KevinClimate "We've developed this term 'net zero' which allows us to move the burden of reducing emissions out to future generations, out to 2050 and beyond. It’s vacuous. Completely meaningless. It’s Latin for kicking the can down the road."
Source: How Wealth Inequality Fuels the Climate Emergency: @GeorgeMonbiot, Scientist Kevin Anderson on COP26 11 November 2021
lnkd.in/ewKhg8NZ CUMBRIA COAL MINE WILL BE "NET ZERO", SAYS GOVE Hugo Gye 7 December 2022 #GoveLies #PeopleDie #UnfitForParliament
The Green Washing of the Bond Market
$500bn of 'Green Bonds Issuance' in 2021. Annual green sales of $1tn in sight: Market expansion forecasts 2025: $5 trillion of yearly green bonds
Aston Villa Football Club Limited publishes losses of £32 million for 2017/18. Take these figures with extreme caution as exclude player wages and player transfer amortisation, which are in the accounts of parent Recon Group UK whose accounts are overdue #AVFC #SmokeAndMirrors
Villa income should be broadly correct for Group too. Gate receipts up due to playoffs. Broadcasting down £7m & likely to fall another £20m+ in 2018/19 as parachute payments taper. Sponsorship up due to training ground agreement
Wages for Aston Villa Football Club Ltd £6m excludes players in 2017/18. Recon Group in 2016/17 had wages of £61m including players.#AVFC
