Monday, February 29, 2016

Most Weird Budget Nothing for Farmers, Poor, Jobs & Startups
February29, 2016 (C) Ravinder Singh progressindia2015@gmail.com

I hate ‘Dullards’ and am shocked at some of the MOST WEIRD provisions in the Budget 2016-17.

Most Crucial to Indian Economy is for Indian Industry to SERVE WORLD MARKET. R&D investment alone required $40b/Yr or 2% of GDP to just make a start. Startup Program is basically SME workshop or trading or Dhaba kind of business.   

Substantial boost in ‘MUDRA YOJNA’ to Rs.1,80,000 Cr BASICALLY to Small Traders – is Equivalent to Rs.1,80,00,000 Cr TRANSACTION VALUE – 100 Times Recycling Loan* – BIG TRADERS ALSO TO GET Rs.4,00,000 Cr – 25 Times Transaction Value or Rs.100,00,000 Crore =Rs.2,80,00,000 Cr. * My Guess is that most of the MUDRA Credits shall go to Moneylenders. http://indiabudget.nic.in/ub2016-17/bs/bs.pdf

Farmers get just Rs.2,00,000 Cr Long Term Credit plus 6,50,000 Cr which is recycled 1.3 Times – Roughly Rs.12,00,000 Cr Transaction Value.

LPG Connection to 5 Cr BPL Rural Consumers – Rs.1,300 Subsidy Per Consumer But Consumers need KITCHENS – Gas Stoves don’t work in Open to Air Kitchens. Subsidized Cylinders May be running Cars of Rich.

House RENT Tax Deduction of Rs.60,000 is Directed at SELF EMPLOYED Only WHO MAY BE PAYING Rs.100 PM Rent for Shop & Rs.250 PM For Homes.

HOUSE  TAX CHARGED IS TWICE FOR RENTED PROPERTY – NO TAX DEDUCTIONS TO OWNERS WHO INVEST IN HOUSING!!!!

I can’t Understand Why Ministry of Finance ‘CONTROL PROSECUTION OF TAX EVADERS & CHEATING & FRAUDS CASES INDIAN BANKS’ which is Ministry of Home Affairs Job.

None of Corporate had been JAILED who had taken Rs.50,00,000 Crores Loans, Deposits, Rs.100,00,000 Crore Stock Market Cap - $600b Foreign Investments & $900b FDI.

Rajat Gupta was prosecuted for Stock Market Manipulation & Insider Trading by Public Prosecutors not by Tax Tribunals. No Corporate Jailed for FRAUDS in India. Mukesh Ambani Operates 104 Subsidiaries Fraudulently.

“He was convicted in June 2012 on insider trading charges of four criminal felony counts of conspiracy and securities fraud.”  https://en.wikipedia.org/wiki/Rajat_Gupta

95% Growth Will Come From Corporate & Existing Investments – STICK was required to Ensure Efficiency & Productivity, Tax Contribution, Job Creations, Recovery of Loans.

Rs.10,00,000 Cr to Rs.20,00,000 Cr LOANS Recovered Could Have Been Re-Invested in Startups, Farm SMEs, Jobs & Wealth Creation.

IRRIGATION

When Gujarat alone plans to Spend Rs.10,000 Cr Plus on Irrigation contributing just 4% to Foodgrains Production – Rs.17,000 Cr Irrigation Budget for India meanz nothing for India. This too shall be Limited to BJP States which have hundreds of pending projects.
But Most WEIRD is 5,00,000 Farm Ponds – Allocation of Rs.6,000 Cr for Ground Water Recharge. Even if Farm Pond Land Area is 1 Hectare – Land Value Could Be Rs.1 Cr – So Land Worth Rs.5,00,000 Cr Could Go Under Ponds for Rs.6000 Cr Subsidy.

Farmers Don’t Need Soil Card – Must Apply Nutrients Required for Crops. Satellite Imaging is Quick and Inexpensive to Pin Point Nutrient Deficiencies.

AGRICULTURE

Do We Need Local Production of Foods or National Market? Obviously Local Production – FARMERS REACH IS WITHIN 50 KM – E-Market shall benefit Corporate TRADERS.

Storages were required at Point of Production – At Farm and Freezers at Consumers Homes – GoI is promoting Exploitation of Farmers & Consumers.

CREDIT – Ambanis vs Farmers

Though Farming is Oldest Productive Activity of Mankind but Farmers are Getting Bank Loans ‘TIMELY’ not on Long Term Basis. AMBANIS get Bank Loans on Never To Refund Basis and to OPERATE 104 SUBSIDIES Also ‘Special focus has been given to ensure adequate and timely flow of credit to the farmers.’

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471, 9718280435, 9650421857

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