Straight Drive Posted July 10, 2014 Author Posted July 10, 2014 Interesting thing about today's budget - during the speech Jaitley had back pain/cramps so the speech was halted for 5 minutes to allow him to take rest and then he was allowed to give the speech sitting down - first time it has ever happened. Shoulder cramp.
randomGuy Posted July 10, 2014 Posted July 10, 2014 No. Let me dumb it down for you. Of course' date=' my understanding about economics is limited but the experts aren't helping me understand either. I either get slapped with a jargon (in this case operational ratio) or an opinion - "Railways are incurring losses" or an ad hominem[b'] "go to school" (Btw, I am very excited to "go to school" and learn - I do that everyday) . . @DM When average/shallow folks try to explain things(things which are not complex obviously, coz otherwise they would not know them) and even when what the other guy(you in this case) is saying is also not wrong, the use of references such as 'you need to go school', 'let me dumb it down' is commonplace you see...
adi B Posted July 10, 2014 Posted July 10, 2014 watching jaitley's interview to times now.many things/confusion are getting cleared
adi B Posted July 10, 2014 Posted July 10, 2014 ndtv rated the budget 2.7/5.wow really kind,knowing them!!
Sachin=GOD Posted July 10, 2014 Posted July 10, 2014 The Budget has given Rs 100 crore for the Lucknow metro - ismey toh 0.5 km ka track bhi nahi ban payega (it cost around Rs. 210 crore for each KM of the Delhi metro).
Holysmoke Posted July 10, 2014 Posted July 10, 2014 The Budget has given Rs 100 crore for the Lucknow metro - ismey toh 0.5 km ka track bhi nahi ban payega (it cost around Rs. 210 crore for each KM of the Delhi metro). Feasibility study/report.
Holysmoke Posted July 10, 2014 Posted July 10, 2014 @DM When average/shallow folks try to explain things(things which are not complex obviously, coz otherwise they would not know them) and even when what the other guy(you in this case) is saying is also not wrong, the use of references such as 'you need to go school', 'let me dumb it down' is commonplace you see... Don't agree with what you're saying, but realize that that comment was unnecessary, so I shall edit it out.
Sachin=GOD Posted July 10, 2014 Posted July 10, 2014 Feasibility study/report. Thats already been done a long time ago and work for the first phase is set to begin in Sept this year. The project is expected to cost around $2 billion.
Holysmoke Posted July 10, 2014 Posted July 10, 2014 Thats already been done a long time ago and work for the first phase is set to begin in Sept this year. The project is expected to cost around $2 billion. Oh. These projects are in the PPP mode, so maybe the govt is investing only that much? Not sure.
Khalpat Posted July 10, 2014 Posted July 10, 2014 The Budget has given Rs 100 crore for the Lucknow metro - ismey toh 0.5 km ka track bhi nahi ban payega (it cost around Rs. 210 crore for each KM of the Delhi metro). This amount has been alloted for current financial year only. Metro is constructed with a partnership of State and Centre. Knowing how UP government works I am sure they will not be able to utilize this 100 crore also :haha:.
Sachin=GOD Posted July 10, 2014 Posted July 10, 2014 Oh. These projects are in the PPP mode, so maybe the govt is investing only that much? Not sure. Total project cost to be borne by UP Govt, GOI & an external agency in 20:20:60 ratio - http://timesofindia.indiatimes.com/city/lucknow/DEA-writes-to-European-Bank-to-fund-Lucknows-metro/articleshow/32814285.cms This amount has been alloted for current financial year only. Metro is constructed with a partnership of State and Centre. Knowing how UP government works I am sure they will not be able to utilize this 100 crore also :haha:. Yeah.....any project done under Akhilesh Yadav has got to be bad :((
Sachin=GOD Posted July 10, 2014 Posted July 10, 2014 Air India to get Rs.6,500 crore of fresh equity The News Minute | July 10, 2014| 7:03 PM IST Finance Minister Arun Jaitley on Thursday proposed infusion of an additional equity of Rs.6,500 crore in the cash-strapped national passenger carrier Air India for the current fiscal. "Budgetary support of Rs.6,500.00 crore has been earmarked for equity infusion in Air India Limited," said the expenditure budget document. The national passenger carrier, which has an accumulated debt of around Rs.40,000 crore and losses estimated to be around Rs.6,000 crore for 2013-14, was given Rs.5,000 crore in the previous budget. The budgetary support is a part of a turnaround and a financial restructuring plan worth Rs.30,000 which was passed in April, 2012. The turnaround plan worth Rs.30,000 crore of equity infusion is expected to be completed over a period nine-years starting 2012-13. Apart from Rs.30,000 crore of equity infusion, the turn around plan envisions Air India getting Rs.7,400 crore by issuing government-backed non-convertible debentures (NCDs) to its lenders, like financial institutions, banks, LIC and EPFO. Its operational performance is also expected to improve with the induction of 27 Boeing 787 Dreamliners and a reduced expenditure burden as it hives off its MRO (Maintenance, Repair and Overhaul) and engineering services as two wholly-owned subsidiaries. Earlier the airline reported to have turned EBITDA (Earnings Before Interest, Depreciation, Tax and Amortization) positive by the tune of Rs 48.75 crore between April and December 2012. IANS http://www.thenewsminute.com/news_sections/586 Thousands of crores have been spent by successive Govts. without a real plan of reviving the airline - instead they should have been privatised it long, long back.
Crookbond Posted July 10, 2014 Posted July 10, 2014 Fair enough. If you're in B-school, do check out the difference between operating ratio, operating profit, gross profit, net profit, ebitda, etc. I thought if I pointed you in the right direction (operating ratio), you'd google and figure it out yourself. I am not in B-school. I see that you are. Still in Singapore? :) No. Let me try to explain. "It implies that we spend 94 paise out of every rupee earned, leaving 6 paise only as surplus. This surplus, apart from being meager, is continuously on decline due to non- revision of fare. The surplus, after paying obligatory dividend and lease charges, was Rs.11,754 crore in 2007-08 and is estimated to be Rs. 602 crore in the current financial year." This "surplus" does not mean profit. This is operational costs. Any new line, upgradation, study, repair, etc has to be done as well. Running an organization is not as easy as profit=income-outflow. The railways does require money for additional expenses, such as land acquisition, infra costs, capacity expansion, safety planning, service level improvements etc. This is deducted after the operating profit, that makes the railways a net lossmaking company. Example - If all this was not done, there would be no IRCTC. You're making sense, but your argument of the railways being in the green does not stand. This is exactly I wanted to convey although I do admit I might be using the wrong words. In the current infrastructure, railways has a surplus but in order to have better facilities prices have to go up.
ravishingravi Posted July 10, 2014 Posted July 10, 2014 Well it is a reasonable budget if one merely looks at it in isolation. But the lack of clarity in terms of vision for coming budgets was disappointing. GST road map should have been laid out. That was bare minimum.
randomGuy Posted July 10, 2014 Posted July 10, 2014 Allocation of just 7680 crores for 100 smart satellite cities ! couldn't believe my ears. comes to ~77 crore per city. Hope this is just interim allocation For now it seems that the talk of smart cities was just selling false promises.
Sachin=GOD Posted July 10, 2014 Posted July 10, 2014 Honestly speaking I didn't expect this budget to lay down a roadmap for the future or to introduce any structural changes because the Govt had only 45 days to go through the disastrous schemes/policies started by UPA and to prepare a budget. The real test would come with the first full budget of this Govt in Feb next year.
Number Posted July 10, 2014 Posted July 10, 2014 Allocation of just 7680 crores for 100 smart satellite cities ! couldn't believe my ears. comes to ~77 crore per city. Hope this is just interim allocation For now it seems that the talk of smart cities was just selling false promises. This year will mainly go into the study of its feasibility and laying out plans etc. So that seems enough. 100 smart cities will take time, 10-15 in the next 5 years would be satisfactory.
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