Between 1951 through 1976, seven amendments—1st (1951), 4th (1955), 17th (1964), 25th (1971), 39th (1975), 40th (1976), and 42nd (1976)—were brought in, all of which were struck down by the Supreme Court.
Finally, with the 44th Amendment (1978) and the repeal of Article 19(1)(f), the right to property was taken away.
With two exceptions: 1. Minorities to establish and administer educational institutions. 2. Persons holding land for personal cultivation within the ceiling limit.
Just 40% tax on the rich? It’s is too low. The rich are parasites, rogues, anti-national. You can do better.
The tax should be raised to 93.5% as Indira Gandhi had in her 1970 Budget.
And don’t forget the 15% surcharge that took the marginal rate of tax to 97.5%.
Why only 'tax' income of the rich? Stop their income, period.
Learn from Finance Minister Y.B. Chavan, who in his May 1971 Budget put a monthly salary ceiling of Rs 5,000 and Rs 1,000 as perquisites.
“…which go ill with norms of egalitarian society.”
1/n Wishing everyone a decade of fulfilling deep desires, original ideas and forceful actions in the 2020s.
20 thoughts for the 2020s...
2/n This decade will see India become the world's third-largest economy.
Our conversations need to reflect that strength.
We will need to discard ideas that have kept us poor, embrace those that will power us ahead, and keep us ahead.
So, focus on wealth creation and growth.
3/n A rising power means rising global expectations, rising responsibilities.
The world seeks deeper engagements from India, stronger influence in global affairs.
From regional security to Aadhaar, India needs to create an array of public goods for the world in 2020s.
2/n #PLF2019 is not a Left-wing #LitFest. But it isn't Right-wing either.
When I heard the various sessions, I knew that more than all other platforms of debate and discourse, it is here that India is articulating its Indian intellectual traditions.
3/n But what is Indian? Why strike out and create a new category at #PLF2019?
Because, the Indian mind... 1. Cannot be captured and constrained into a single Left-Right box. 2. Is all-embracing, all-respectful. 3. Goes beyond toleration and epitomises acceptance.
1/n In the search for truth, being first is not a virtue – being accurate is
The search for truth in #Kashmir should be no different
Sadly it is
Thread based on meeting with several experts yesterday
2/n There is neither any single truth nor any single narrative binding #Kashmir together – that’s natural in a democracy
But to take one fact or one narrative, transpose it blindly onto the entire Valley and inflict it on readers is bad reporting of India's democracy, diversity
3/n There are infinite views on #Kashmir that can be broadly classified into ‘For Article 370’ and ‘Against Article 370’, with few attempts at exploring nuances
The nuances are anecdotal – they are not inaccurate but not the whole truth either
Enough has been written about the returns the #Sensex has delivered in the 40 years of its existence. This is my personal story, a thread...
The day I began my career, the Sensex stood at 1,856.
From then till today, it has multiplied by 20.9 times.
But the #Sensex has given me more than just returns — it has given me a livelihood. Most of my working life I have engaged with m writing and editing magazines and newspapers around businesses, financial services and the economy.
All through, the Sensex was my best friend.
This friendship was sealed by an idea called daily disclosure. While economic data was hard to find, company information was not online, and spread out annually (half-yearly and quarterly results came later), #Sensex reached out to me every trading day. Without fail.
By protecting a terrorist and sponsor Pakistan, China shows: 1. It’s in tune with terror 2. Its contempt for India overrides global concerns 3. It’s an irresponsible ‘great power’ 4. It chooses terror over prosperity
Ball is in India’s court: 1. Tibet 2. Taiwan 3. Trade 4. Quad
But China will not escape unscathed — its terror hyphenation with Pakistan is now complete and unambiguous.
#ChinaBacksTerror is now more than a hashtag — it is a cold reality that places China-Pakistan in the same terror zone.
By hyphenating itself with Pakistan this time, China has launched a diplomatic Pulwama on India — no less.
All masks are off and the truth has revealed itself — Pakistan uses terror as state policy to wage a proxy war against India, China uses Pakistan for the same goals.
Not rituals — #Kumbh gave me a window to look at the vastness of India, its people, it’s Oneness.
Not rides — Kumbh gave me eyes to look within, to see the beyond, to become part of the whole, merge into our civilisation.
You are Kumbh.
I am Kumbh.
We are Kumbh.
For me, faith is not going-through-the-motions of habits, rituals, dips, recitals, teekas, ceremonies.
I went to Kumbh as an observer — not tourist, mind you, but an Observer.
I went to see what brings millions of devotees to a single geographical point in 49 days.
I went to seek non-religious answers:
— What is this festival all about?
— What brings 200 million pilgrims to this place?
— What gives them the strength to brave the long walks, the risks?
— What gives them the grit to take dips in winter-waters of the Ganga?
1/n Far too much energy has been depleted in condemning how the rich and the famous spend their #money (legally inherited and/or legally earned) on weddings. In one straight piece @monikahalan makes mincemeat out of them – and forces an introspection livemint.com/Money/Tzr7GQyG…
2/n How many of those calling such high-decibel weddings “vulgar” opt for a simple registered wedding for their children, asks @monikahalan – scathing observation on #money!
3/n Rather than condemning those who spend their earned/inherited #money, we need to look at how taxpayers’ money is spent on the personal upkeep of ‘public servants’ in acres-large bungalows in prime locations, argues @monikahalan
[We don’t because so few of us pay income tax.]
Apparently, to conduct or participate in #PondyLitFest you need to be ideologically aligned to the Left — this, from a gaggle of writers (yes WRITERS!) calling themselves, hold your breath, ‘progressive’ m.timesofindia.com/city/puducherr…
Lieutenant Governor @thekiranbedi should ensure that there is no space for such festival (#PondyLitFest) in Puducherry, demand Progressive Writers Association — you read that right: ‘PROGRESSIVE’