One reply on “Narendra Modi:How NDTV added fuel to fire in 2002 riots”
Don’t Ask ” How ” ?
At the bottom of the 42 page Election Manifesto of BJP , released yesterday , I tried to search , if in very small print somewhere , there was a footnote which read ,
” Please , don’t ask how we plan to implement these promises ;
From where we plan to find all the money to execute these projects ”
Here are my back-of-the-envelope estimates of what some of the MAJOR projects might cost :
————————————————————————————
PROJECT ……………………………… Approx Cost ( Rs Lakh * Crores )
————————————————————————————-
> 100 Mega Cities…………………… 90
> Interlinking of Rivers……………… 60
> Sagar Mala of Ports……………….. 30
> Highways ( 25,000 Km )………….. 50
> Housing ( 100 mill units )………… 100
> Rivers Cleaning…………………….. 10
> Other Infra Projects……………….. 100
* Freight Corridors
* Gas Grids
* OFC Network
* Quadrilateral Bullet Trains
————————————————————————————
Total ……………………………………Rs 430 Lakh Crores
————————————————————————————
Admittedly , not all of these money will be required in the very first budget that NaMo government ( – of course , only if voted to power ! ) , would present by end June 2014
But a problem does not go away by postponement !
There is only ONE viable solution to the FUNDING problem , viz:,
> Union Government must NOT even try to fund these projects !
There is NO WAY , it can find these kind of money thro taxation !
There will be a revolt !
ANSWER
> Make it possible for the PUBLIC to invest into these projects by ” owning ”
these projects – and earn a reasonable ” tax-free ” return on investments
( Bonds ? ) in these projects
> Towards this end , create various INFRASTRUCTURE SPVs
> Immediately modify PERSONAL INCOME TAX regime as follows :
What is likely to happen with such ” INVERSE TAXATION ” regime ?
Following few things :
> Total personal tax payer base will go up dramatically from current 4
crores tax-payers
> with this ” INVERSE TAX REGIME ” , there will be no incentive to evade
taxes and to generate ” BLACK MONEY ”
There will be no resistance to accept ALL payments by cheque / electronic
clearance
The more you disclose as your income , the less you pay by way of taxes
( Of course , incrementally )
> For a change , we will learn to reward honesty / efficiency / productivity !
No need to bribe those Income Tax officers !
> Suddenly , lakhs of crores of BLACK MONEY will become WHITE MONEY
> There will be a huge surge in bank deposits ( – even with , the inevitable
lower interest rates )
> Banks will be awash with funds to finance businesses / infrastructure
projects etc , encouraging entrepreneurs / self-employed to set up new
businesses ( at 2 % interest rates of loans ) and generate millions of jobs
In any case , BJP manifesto promises :
> Rationalization and simplification of the tax regime – which is currently
repulsive for honest tax payers
> The process of bringing black money to India , what belongs to India , will
be put in motion on priority
> Minimize scope for Corruption
Narendrabhai ,
Here is your chance to ditch the ” Historical Baggage ” into the Indian Ocean
and come up with an INNOVATION that will take India ahead of China !
If President Kubitschek of Brazil ( 1956-61 ) – son of a poor salesman – could construct Capital city BRASILIA and a 1500 Km highway , in 41 months , surely , you can do better , 57 years later !
One reply on “Narendra Modi:How NDTV added fuel to fire in 2002 riots”
Don’t Ask ” How ” ?
At the bottom of the 42 page Election Manifesto of BJP , released yesterday , I tried to search , if in very small print somewhere , there was a footnote which read ,
” Please , don’t ask how we plan to implement these promises ;
From where we plan to find all the money to execute these projects ”
Here are my back-of-the-envelope estimates of what some of the MAJOR projects might cost :
————————————————————————————
PROJECT ……………………………… Approx Cost ( Rs Lakh * Crores )
————————————————————————————-
> 100 Mega Cities…………………… 90
> Interlinking of Rivers……………… 60
> Sagar Mala of Ports……………….. 30
> Highways ( 25,000 Km )………….. 50
> Housing ( 100 mill units )………… 100
> Rivers Cleaning…………………….. 10
> Other Infra Projects……………….. 100
* Freight Corridors
* Gas Grids
* OFC Network
* Quadrilateral Bullet Trains
————————————————————————————
Total ……………………………………Rs 430 Lakh Crores
————————————————————————————
Admittedly , not all of these money will be required in the very first budget that NaMo government ( – of course , only if voted to power ! ) , would present by end June 2014
But a problem does not go away by postponement !
There is only ONE viable solution to the FUNDING problem , viz:,
> Union Government must NOT even try to fund these projects !
There is NO WAY , it can find these kind of money thro taxation !
There will be a revolt !
ANSWER
> Make it possible for the PUBLIC to invest into these projects by ” owning ”
these projects – and earn a reasonable ” tax-free ” return on investments
( Bonds ? ) in these projects
> Towards this end , create various INFRASTRUCTURE SPVs
> Immediately modify PERSONAL INCOME TAX regime as follows :
> Up to Rs 5 lakhs………………… NIL
> 5.1 – 10 lakhs………………….. 8 %
> 10.1 – 20 lakhs…………………. 6 %
> 20.1 – 50 lakhs………………… 5 %
> 50.1 – 100 lakhs………………… 3 %
> Above 100 lakhs…………………. 1 %
What is likely to happen with such ” INVERSE TAXATION ” regime ?
Following few things :
> Total personal tax payer base will go up dramatically from current 4
crores tax-payers
> with this ” INVERSE TAX REGIME ” , there will be no incentive to evade
taxes and to generate ” BLACK MONEY ”
There will be no resistance to accept ALL payments by cheque / electronic
clearance
The more you disclose as your income , the less you pay by way of taxes
( Of course , incrementally )
> For a change , we will learn to reward honesty / efficiency / productivity !
No need to bribe those Income Tax officers !
> Suddenly , lakhs of crores of BLACK MONEY will become WHITE MONEY
> There will be a huge surge in bank deposits ( – even with , the inevitable
lower interest rates )
> Banks will be awash with funds to finance businesses / infrastructure
projects etc , encouraging entrepreneurs / self-employed to set up new
businesses ( at 2 % interest rates of loans ) and generate millions of jobs
In any case , BJP manifesto promises :
> Rationalization and simplification of the tax regime – which is currently
repulsive for honest tax payers
> The process of bringing black money to India , what belongs to India , will
be put in motion on priority
> Minimize scope for Corruption
Narendrabhai ,
Here is your chance to ditch the ” Historical Baggage ” into the Indian Ocean
and come up with an INNOVATION that will take India ahead of China !
If President Kubitschek of Brazil ( 1956-61 ) – son of a poor salesman – could construct Capital city BRASILIA and a 1500 Km highway , in 41 months , surely , you can do better , 57 years later !
* hemen parekh ( 08 April 2014 / Mumbai )