The coronavirus pandemic requires abandoning fiscal rectitude since India too is facing a demand slump. Across the world, economies are spending money.
Set up by Lal bahadur Shastri, the Santhanam Committee's key concern was that corruption, once limited to the lower rungs of the bureaucracy, had now infected the All India Services and political leadership.
In the latest budget, the FDI limit was increased to 100 percent, but most foreign companies are not buying such large stakes in the Indian insurance sector.
Modi government had also made numerous efforts to establish peace with Pakistan but has now adopted a different path, militarily, to establish peace, adds defence minister.
As Narendra Modi becomes India’s second-longest consecutively serving Prime Minister, we look at how he compares with Indira Gandhi across four key dimensions.
I am 63 years old. Live on primarily Interest income.
Interest rates had started falling drastically at about the time I got my retirement dues. Thus, as it is my returns are limited. So far i didn’t feel the pinch much because the inflation was kept comparatively low. Now, if Govt starts spending beyond its means, even the inflation will go up. How will I survive! The interest rates on small savings went down sharply effective Apr 1. Reinvestment of maturity proceeds has become a nightmare. Interest rate decisions are taken by the bureaucracy who are protected not only because their Pension is inflation protected but also they declare a much higher return on their retirement kitty.- GPF interest is 7.99%. A fair approach demands that there should be avenues for non govt (retired) people to earn a return on their investments at least equivalent to the interest rate that the bureaucracy gives themselves. Impact of inflation on the retired people can be restricted by suitably increasing tax concessions linked to CPI index.
India simply cannot afford to go overboard on spending. As someone said, there is no government money, it is all tax payer’s money. Having been so profligate when there was no crisis – recall that Wolf, wolf story from our childhood – there is no space to open the faucet when there is a real fire. India will have to be prudent, unless we want a sovereign ratings downgrade to a Junk, collapses of the INR to beyond 100, a full blown crisis. 2. Topping my list of never to use phrases was Wake up call. Now it is Convert a threat into an opportunity.
Yes ! But we must remember that some years ago we talked same and enticed NOKIA to establish factory in Chennai. They had to close the factory because of bad application of income tax laws. . We have to first take care that such things don’t happen again.
I am 63 years old. Live on primarily Interest income.
Interest rates had started falling drastically at about the time I got my retirement dues. Thus, as it is my returns are limited. So far i didn’t feel the pinch much because the inflation was kept comparatively low. Now, if Govt starts spending beyond its means, even the inflation will go up. How will I survive! The interest rates on small savings went down sharply effective Apr 1. Reinvestment of maturity proceeds has become a nightmare. Interest rate decisions are taken by the bureaucracy who are protected not only because their Pension is inflation protected but also they declare a much higher return on their retirement kitty.- GPF interest is 7.99%. A fair approach demands that there should be avenues for non govt (retired) people to earn a return on their investments at least equivalent to the interest rate that the bureaucracy gives themselves. Impact of inflation on the retired people can be restricted by suitably increasing tax concessions linked to CPI index.
India simply cannot afford to go overboard on spending. As someone said, there is no government money, it is all tax payer’s money. Having been so profligate when there was no crisis – recall that Wolf, wolf story from our childhood – there is no space to open the faucet when there is a real fire. India will have to be prudent, unless we want a sovereign ratings downgrade to a Junk, collapses of the INR to beyond 100, a full blown crisis. 2. Topping my list of never to use phrases was Wake up call. Now it is Convert a threat into an opportunity.
Yes ! But we must remember that some years ago we talked same and enticed NOKIA to establish factory in Chennai. They had to close the factory because of bad application of income tax laws. . We have to first take care that such things don’t happen again.