Modi sarkar economic reforms/governance performance thread

[dial_100]

^Good news. Amidst all the politics the work is done silently.

ET Awards 2015: Piyush Goyal wins Business Reformer award

Read more at:
http://economictimes.indiatimes.com/articleshow/49446202.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

 

[amiret]

So why will anybody invest if there is a possibility of anarchy & unrest in India?

Nobody has claimed there is a possibility of anarchy or unrest except the spokesperson of the BJP who claimed there is possibility of Civil WAR , if media kept doing it's job  .

The chart you have posted is related to domestic Mutual Fund inflows. Retail inflows since march has been at an all-time high. retail investors tend to invest when markets at or near a high .

FII's (Foreign Institutional investors) on the other hand have been net sellers since May 2015 . They are +ve for the year and for the month of October . FII investments have very little to do with domestic politics .

FII chart from equitymaster

Edited October 27, 2015 by amiret

[diga]

^ so you only believe in the wisdom of FII's ...

Domestic fund flow is also an indicator ... Isnt it ?

[G_B_]

^

they are a factor which cannot be ignored. 

[rkt.india]

http://www.firstpost.com/india/sanjiv-bhatts-fall-from-grace-after-sc-verdict-damages-the-anti-modi-brigade-2467982.html

[diga]

http://www.huffingtonpost.in/vivek-v-gumaste/moodys-analytics-is-not-t_b_8449078.html?ncid=fcbklnkinhpmg00000001

 

Moodys report... nothing official about it.

[Yoda-esque]

Piyush Goyal,Nitin Gadkari and Prabhu have been doing great work

Sent from my SAMSUNG-SM-G890A using Tapatalk

[amiret]

Tax and Splurge :

NEW DELHI: All services, including air travel, telephony, eating out and banking will become expensive from November 15 as the government on Friday decided to impose a 0.5 per cent cess on all taxable services to fund the Swachh Bharat programme.

The additional cess would be over and above the 14 per cent service tax rate which is already being levied and may yield the government an additional about Rs 400 crore during the remainder of the current fiscal.

 

[amiret]

According to new IMF report  poverty in India was 40 % lower than official figures during UPA-2 years , but there is barely a mention in mainstream media .

Almost 10 % of India's population was raised from poverty ;  one would think the new IMF report would have been the topic of widespread debate .

[beautifulgame]

Tax and Splurge :

Its a fecking joke .In 3 months the service tax has been increased 2.5%

[bulbul]

Govt. introduces FDI reforms across sectors

 

To improve ease of business, the potential investors will have access to a booklet of all instructions and notices. “Along with these sectoral reforms, DIPP has also been advised to consolidate all FDI related instructions contained in various notifications and press notes and prepare a booklet so that the investors don't have to refer to several documents of different timeframes,” the release stated.

Below is the entire list of sectors which have undergone FDI reforms:

i. Limited Liability Partnerships, downstream investment and approval conditions.

ii. Investment by companies owned and controlled by Non-Resident Indians (NRIs)

iii. Establishment and transfer of ownership and control of Indian companies

iv. Agriculture and Animal Husbandry

v. Plantation

vi. Mining and mineral separation of titanium bearing minerals and ores, its value addition and integrated activities

vii. Defence

viii. Broadcasting Sector

ix. Civil Aviation

x. Increase of sectoral cap

xi. Construction development sector

xii. Cash and Carry Wholesale Trading / Wholesale Trading (including sourcing from MSEs)

xiii. Single Brand Retail Trading and Duty free shops

xiv. Banking-Private Sector; and

xv. Manufacturing Sector

 

http://www.thehindu.com/business/Economy/govt-introduces-fdi-reforms-across-sectors/article7865147.ecehttp://www.thehindu.com/business/Economy/govt-introduces-fdi-reforms-across-sectors/article7865147.ece

[bulbul]

Make in India: After GE, Alstom bags FDI contract with Indian Railways in Bihar

 

Indian Railways on Monday awarded contracts to global giants General Electricand Alstom for setting electric and diesel locomotive factories in Marhora andMadhepura in Bihar, marking the first major FDI in rail projects after the limit was raised by the government in select railways sectors. 

While it will cost Rs 2,052 crore for setting up the diesel locomotive factory at Marhora, the electric one will cost Rs 1,293.57 crore at Madhepura.

The contract agreements with both GE and Alstom will be signed in a month, the official said.

The projects, closely monitored by the PMO, involve manufacturing of 1,000 diesel locomotives and 800 electric locomotives over next 10 years and is worth about Rs 40,000 crore...

 

US-based multinational GE, the lowest bidder for the Marhora diesel locomotive factory, is expected to manufacture the 1,000 locomotives over 10 years. While 100 will be imported, rest will be manufactured at Marhora as part of the Make in India initiative. There will be two types of diesel locos --- 4500 horse power and 6000 HP - manufactured by GE in Marhora.

There will be two loco sheds at Gandhidham and Bhatinda for maintenance of the modern diesel locomotives.

French major Alstom, the lowest bidder for the Madhepura electric locomotive factory, will manufacture 800 high power electric locomotives locos in the next 10 years. It will manufacture 12,000 HP electric locomotives to be used for heavy haulage.

According to the contract, while 5 Electric locos will be imported, the rest 795 will be manufactured at Madhepura as part of the project. Maintenance of the locos will also be the responsibility of the company and for this it will set up two maintenance sheds at Nagpur and Sharanpur.

Railways will have 26% equity and also provide land while the global players will have 74% equity in each of the plant.

 

PS :  The mega projects approved since 2007 by the then Railway Minister Lalu Prasad, got mired in controversies, years of red tape and indecision by successive ministers, finally saw the light of the day during Suresh Prabhu regime.

 

http://www.dnaindia.com/money/report-ge-alstom-gets-first-fdi-rail-contract-in-bihar-2144023http://www.dnaindia.com/money/report-ge-alstom-gets-first-fdi-rail-contract-in-bihar-2144023

[diga]

September IIP Disappoints as Manufacturing Tanks.. "Make In India"  :FAIL:

[The Outsider]

Swachh Bharat tax! LOL! 

[amiret]

modi govt Doublespeak : This Tax is not a Tax .

“Swachh Bharat cess is not another tax but a step towards involving each and every citizen in making contribution to Swachh Bharat. The proceeds from this cess will be exclusively used for Swachh Bharat initiatives,” the Finance Ministry had said while notifying the Swachh Bharat cess.

It is a democratic and ingenious way for all Indian citizens to contribute to the Great Snooper's international nautankis.

[diga]

BSNL operating profit at Rs 672 cr http://www.deccanherald.com/content/512496/bsnl-operating-profit-rs-672.html …..

previously a loss of 691cr under zero-loss-sibal 

[G_B_]

yup in line with air india which is also being slowly turned around. No doubt helped by fall on oil prices.

[bulbul]

^ Give credit to MMS & UPA.

[amiret]

1.More subsidies :

New Delhi, Nov 18:  

The Union Cabinet has approved the long-awaited interest subvention scheme that would allow exporters, mostly in the labour-intensive and small and medium sectors, to avail of loans from banks at a 3 per cent lower rate.

"The scheme will give a boost to exporters in sectors such as handicrafts, agriculture products, food processing ventures, and small and medium enterprises that were not able to access foreign loans and were dependent on high-cost domestic loans," Piyush Goyal, Minister of State for Coal, Power and Renewable Energy, said at a press briefing on Wednesday.

sugars subsidies , farm loan waivers , interest subsidies ..etc .

How will banks be compensated for this 3 %  ?

 

2.Share prices of Sugar companies spike :

Sugar stocks remained in limelight on Tuesday after media reports stated that the government is planning to offer a subsidy of Rs 1,200 crore to farmers. Also, expectation of fall in output amid pick up in demand in spot market supported sentiments for sugar stocks.

Sugar Manufacturing stocks have shot up in the stock markets by over 20 -50 % in just a few trading sessions, on the news that Govt is planning to offer subsidies (AGAIN) to farmers ;

 

But ask yourself this question , why should the stock prices of Sugar companies be shooting up if subsidy is being offered to Farmers ?

The answer i believe lies in the fact that the Sugar companies have themselves defaulted in almost Rs.11,000 Crores of dues to aggrieved farmers despite being bailed out by the UPA and NDA Govt last year ; in the form of interest free loans and export subsidy to export raw sugar.

This new proposed subsidy is another indirect bailout of the Sugar Companies.

In July 2015 :

 the UP government issued notices to 52 sugar mills for not making payments to farmers and also lodged 60 FIRs against 43 sugar mills. "At the same time, the state government gave all possible sops, including waiving off the society commission, to the millers to convince them to pay the arrears," Sharma told TOI.

Edited November 18, 2015 by amiret

[amiret]

Socialist Bailout of Sugar Mill owners continues :

New Delhi: Government could for the first time pay sugarcane farmers in part for produce sold to debt-laden mills, two government sources said on Tuesday, as part of efforts to help politically strong growers as well companies struggling with a global glut.
...recent hopes of government help have boosted the shares of sugar companies such as Bajaj Hindusthan Sugar, Shree Renuka Sugars, Simbhaoli Sugars and Bannari Amman Sugars.

 

Another betrayal of the Tax payer and voter ?

LINK