Modi Govt meeting expectations?

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Ana_R

@LovelyPlanet

Voyager

Posted: 11 years ago

Are they really doing what was expected and promised or people of India got fooled again?

Not sure about the whole budget but erecting statue twice the size of statue of liberty and costing 2500 cr is beyond silliness in every sense. Not sure what modi supporters think of that.

Also does anyone know story behind lipstick stain on budget 😆

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return_to_hades

@return_to_hades

Stunner

+ 6

Posted: 11 years ago

Too early to call.

The statue is a complete waste though. IMO it is an insult to Sardar Patel to have such callous spending in his name. He would be more honored with investment in infrastructure and helping the needy people.

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373577

Suspended

Posted: 11 years ago

Originally posted by: LovelyPlanet

Also does anyone know story behind lipstick stain on budget 😆

What was that ?

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charminggenie

@charminggenie

Stunner

+ 2

Posted: 11 years ago

It's actually a very decent cautious and more like immediate relief type of budget. Doubt the industry was expecting too much from this budget considering usually the 1st budget is appeasing the vote bank.

The individual tax and PPF reforms surely will benefit the salaried class.

Good move on FDI in defence and insurance.

Still need to elaborate on agri reforms and the 8lac limit.

Cities development fund is welcome . I like the idea of 100 Cr clubs.

Changes in taxation of offshore funds should be a good boast to investors. Though govt played it a bit safe by not reforming the debt fund and increase in long term capital gain rate.

The target of 4.1% fiscal deficit by next year and 3% by 2015-16, is very ambitious , considering the slow economy dynamics the govt has inherited

Uniform KYC reforms should be a good sign for investments.

Now for the major huddle, the retrospective tax, considering the GOI is right now battling giants in international courts , it would have been disastrous to reform then in this budget. I would expect major changes here in budget 2 or 3.

GST reforms by an year , does seem like a good move and should make investors happy.

Good initiatives in real estate investments , infrastructure and manufacturing.

Good to see sanitation and 100% water/power supply on long term programs .

I liked the Railway budget, the elephant needs major cost cutting and privatization of certain features.

It would be silly to expect from any govt to not have it's rhetorical propaganda especially in the very first budget after a political win. Every govt of the world is guilty of this and to some extent it makes sense politically. Personally I don't like the Patel move but I do understand why a govt would go for it. My focus was more on reforms for general public and investors.

Overall it's a realistic budget which does indicate future reforms for investors , also it is more individual focused which means it caters to middle class of India.

BRIC bank move is interesting.

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373577

Suspended

Posted: 11 years ago

how does that have to do anything with a lipstick stain 😕

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Ana_R

@LovelyPlanet

Voyager

Posted: 11 years ago

Originally posted by: zorrro

What was that ?

i read somewhere(swear on god it has disappeared now 😕).. that ET editor saw lipstick mark on the budget prompting swamy to pass comment "UPA budget with saffron lipstick".. Budget was prepared without appointing Chief Economic Adviser, so some beaurocrat probably did a copy paste of UPA's😆 I like the idea of cleaning ganges, however were nt they supposed to tackle corruption, black money first?

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charminggenie

@charminggenie

Stunner

+ 2

Posted: 11 years ago

Originally posted by: LovelyPlanet
i read somewhere(swear on god it has disappeared now 😕).. that ET editor saw lipstick mark on the budget prompting swamy to pass comment "UPA budget with saffron lipstick".. Budget was prepared without appointing Chief Economic Adviser, so some beaurocrat probably did a copy paste of UPA's😆
The CEA appointment is held by some legal procedures last I checked. The thing is 1st Budget post elections is always a redrawn on the previous govt policies. Though barring social reform , all the points are very different especially indirect tax and off-short funds. Also less subsidiary and more relaxation in individual IT slabs.

I like the idea of cleaning ganges, however were nt they supposed to tackle corruption, black money first?
The govt did that before the budget presentations. A Financial tax force was set up to work on a framework with the Swiss banks to bring back the money.
Heard the Yamuna cleaning is funded by NRIs or something.

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armummy

@armummy

Dazzler

Posted: 11 years ago

So far they are trying to get the expectations down. They really raised expectation sky high during elections . Now facing reality they are feeling the heat.

I don't see any change from previous government except for relying on media to malign NGOs , judiciary candidates , unnecessary language issues etc.

Let's see going forward what they will do, as of now nothing great as they promised .

Only renaming the govt schemes .. Bullet train which is not need of the hour ,200 cr for statue

Recent news Adani got clearance for his SEZ. So looking like things are rolling for them

Edited by armummy - 11 years ago

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alina.b

@alina.b

Sparkler

+ 2

Posted: 11 years ago

I don't know much about what is going on with india's new government but I do know that it takes years to build something and only seconds to break something and just as before it will take years to rebuild something. The previous government caused a lot of damage to India, people cannot expect modi to fix everything in a day. Give it time.

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Bankim Chandra Chaterjee

@mr.ass

Rocker

Posted: 11 years ago

#10

it was a good budget. not revolutionary enough and not enough to revive the economy, but compared to upa it was better as regards investment in infra, fdi in insurance and skill development.. also the initiation of the 100 cities program is amazing. tax exemptions should have been much more. direct tax is only a small part of the governments revenue. they should have abolished direct tax FOR INDIVIDUALS (NOT COMPANIES OR FIRMS)and slightly reduced indirect taxes. that could have increased both consumpion/savings and investment. this would lead to more profits to tax, more sales/ services to tax, and expansion of business.. leading to more jobs, more expansion, more investment by govt due to greater revenue and investment by private investors.. leading to an eventual economic BOOM by 2017.

hopefully swamy will have some say in th future jaitley isn't good enough, and even if modi is behind the budget, he can't do justice. if swamy is too extreme then get back yashwant sinha, he was the BEST.

statue is a waste , but there should be a smaller expenditure for the statue, preferably by gujarat govt and not centre!!

modernisation of madarasas is interesting, is it pandering or is it a way to make these more educational and less religious?

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