*How #SriLanka got ruined*

Lankans voted for #Rajapakshas knowing very well what they did in the past, including corruption, selling out national assets to #China, #dynastic politics and all.

They still voted for them because Rajapakshas promised things they could not refuse.
1. Their #GST, called VAT Tax, on all products was reduced to 8%, thus making everything cheaper in one stroke. (It also killed the govt revenue). People loved things getting cheaper.
2. The minimum #incometax threshold was changed from 5 Lakhs per annum to 30 Lakhs! Very few earned more than 30L!
A very large part of the population became #tax exempt. This was very popular among the salaried class.
3. For those with income over 30 Lakhs, the upper ceiling of maximum personal tax of 15% was created, so no one paid over 15% tax. For comparison, it is around 42% in India and between 40 to 60% in many developed countries.
4. Corporate tax was promised to be reduced to 14%!
Every corporate supported and funded Rajapakshas.
5. They abolished seven other #taxes, including a 2% nation building tax paid by businesses.
6. Zero tax for many industries like IT services and hotels that serve tourists etc.
7. Various taxes imposed on #religious institutions were promised to be scrapped. Srilanka's powerful #Buddhist Monks campaigned during election times to vote for Rajpakshas.
8. Individuals and companies engaged in #agriculture, #fisheries and livestock #Farming were exempted from any taxes for the next 5 years.

9. The daily minimum wages of tea workers were raised to Rs.1000. Instantly got all their votes.
10. Minimum salary for private company employees was fixed at Rs12500 per month. Every low #income family loved it.

11. #tax on retirement gratuity was reduced from 24% to 15%. All senior citizens loved it.
12. #pensions were awarded to state bank employees who were not eligible. Those employees loved it.

13. 15% VAT on apartments was scrapped. Young home buyers and construction industry loved it.
14. #FuelPrices were kept artificially low. They bought Petrol from #India, and still sold it at prices lower than India. No #tax revenue there either.
15. In a hurry to make Srilanka a developed nation, they went on an infrastructure building spree financed by #Chinese & foreign loans. #infrastructure that they could not use for productivity. Those projects became white elephants.
Rajapakshas delivered on these promises promptly as soon as they got into office. They #bankrupted #SriLanka in the process.

In trying to get so many things for free, Sri Lankans actually ended up paying much higher prices.
Now, Srilankan rupee trades for Rs 310 per dollar.
For an #Imports-dependent country, this means everyone's savings got reduced by the same ratio. Their buying power decreased. Their salary did not increase in proportion to the inflation. Thus everyone actually ended up with smaller incomes.
Besides monetary issues, it destroyed the country, has caused lot of human suffering with 15 hour powercuts, lack of #food, civil war like violence and #political instability.
Remember govt revenue is dependent upon taxes & without taxes & revenue govt income collapses .
Unless we in #India start taking an objective purely logical view towards politicians who offer handouts, tax cuts & doles like free #electricity & #water , free #transportation & think what is funding all those freebies we will face similar crises in time as well.
There are no free lunches ,we will all pay .Either peacefully via taxes & bills or tomorrow running from pillar to post trying to organize some petrol or food for our family in an collapsing country.
Don't let #India become #SriLanka , we all must pay our dues & reject freebies.
Reposting this here simply because people will inevitably link in #CentralVista without realising that the ₹1500cr budgeted for it in each FY is basically one day's worth of salary bills for the union govt .
#Punjab needs #industry & that Industry won't come unless Land rates go down .Why is land so expensive in #Punjab ,well because of #MSP based #agriculture income & people buying land using remittance dollars.
No easy lunches there.
Fact is even today multiple states like #WestBengal #Punjab #Delhi would go bankrupt unless cushioned by the much larger economy of India as a whole .

"#India needs legislation to ensure no govt can spend anything beyond a fixed percentage of receipts as subsidies/doles."
How many industries are lining up to enter #JammuKashmir ?
That said the northern state/Union Territory has other more critical problems they need to solve first .
Could've been reduced had expenses stayed constant .How do you think India pays for the 7th pay commission salaries or OROP or MSP at 1.5 times intl prices ( pre Ukraine war) , how do we pay for coal used for free power & electricity to pump free water?
Absolutely true , #taxation in #India is primarily designed to underwrite the millions who pay little or nothing .
That's the reality of our nation . What the middle class gains is a measure of stability & basic comfort .

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More from @Aryan_warlord

Apr 10
Fact is when the #RussiaUkraineWar war started Ukraine had an advantage in terms of manpower, armour & artillery present In the theatre. They also had a contiguous land border with Europe allowing " volunteers" & armament to be brought at will.
Yet NATO blinked on direct entry.
Fact is Russian forces didn't or were unable to cut access to internet , electricity ,rail & even sir connectivity primarily to western Ukraine. Fact is Russian forces for whatever reason didn't use strategic bombing as a doctrine .
Despite all of the above the Russians have made tangible gains wherever the war has actually taken place as in open conflict with multiple villages & towns primarily in the South & East taken .
Taiwan will be a whole different ball game .
Read 6 tweets
Mar 29
Away from the spotlight the @RBI has cracked the whip on @Mastercard @Visa & @AmexIndia . An ultimatum by which all data of Indian citizens with these firms have to be moved to local servers is set as May 2022 . The entire brass at these firms is scrambling to save themselves.
From May 2022 the @RBI shall be using a software crawler to sift through the entire data these firms have in order to locate any offshore data & possibly any tax evasion or other tomfoolery . The #India management of these firms will be legally liable.
One of the reasons the USA was so easily able to sanction numerous Russians was because they had all the data of those people. In India's case there will be no offshore data , no foreign govt will have access unless granted by New Delhi .
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Mar 29
Been talking about this from the first week of March . #Kiev was always a feint whether anyone likes it or not .
Once #Kramatorsk falls the war in #Ukraine will be over for all practical intents & purposes .
@YusufDFI @sumoberoi @bheemmz @Kunal_Biswas707 @sayareakd
My detailed analysis as of the 18th of March holds true to this day . We should see ceasefire talks begin after #Kharkiv & #Kramatorsk fall by mid April .
People said the same thing about Melitopol, Berdyansk, Kherson ,Marinka , Volnovakha & Mariupol .
That said war is often unpredictable , i continue to believe both will fall .
Read 4 tweets
Mar 18
Looks like #western & #Australian analysts are finally waking up to what I've been publicly stating here for the last two weeks .
#Kiev & #Kharkiv are distractions , the real game is in #southeastern #Ukraine .
news.com.au/world/europe/r…
In the Southeast sector #Russia has no #logistics problems with supplies getting trucked in via the DPR & LPR .If anything the #Ukrainian forces stuck here have logistics trouble with supply lines stretching to #Lviv nearly 1200km away ,nothing is getting out of #Kiev ,#Kharkiv .
To their credit #Ukrainian forces seem to have Prepositioned significant ammunition , troops & equipment in hardened dispersed storages in the east which they're using to fight on .
Of late #Russians have been Targeting these stores unerringly.
Read 19 tweets
Mar 17
#china proposes
1) #India China Civilizational dialogue .
2) #India #China trade & investment forum
3) India China film forum .
#Chinese want #NarendraModi to visit #Beijing for BRICS in 2022 alongwith a trilateral between #XiJinping #Putin & #ModiJi

indianexpress.com/article/india/…
Imho while Civilizational dialogue, investment & film forums can proceed #narendramodiji should only share space with #XiJinping after Chinese pull back forces beyond finger 8 & return to status quo ante as in 2019.
That should be our minimum condition .
The Chinese foreign policy towards India has hitherto always been conceptualized ,finalised & implemented not by the Beijing MOFA but the PLA. We have a unique situation now with #XiJinping being the first president to directly command the PLA since #MaoZedong .
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Mar 17
In 1991 a referendum was held in what is now #Ukraine asking whether the nation should stay united with #Russia . The states in red had voted for #Russia & those in Green for the West .
Interesting to note the green circle of #Kiev in what is otherwise a red state. Image
They didn't . In 2014 the US organised a regime change operation called "maidan" . This was followed by a removal from office of all Pro Russian leaders . The pre Maidan President had to escape from Ukraine & take shelter in moscow.
Maidan itself was hijacked by Neo Nazi militia . The govt & security setup of Ukraine today is pretty linked to Neo Groups. Few dare vote against them .
Read 4 tweets

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