Budget 2012

On 16th Honourable Finance Minister Mr. Pranab Mukherjee has been presented the Union budget of India on Parliament for UPA government for straight 7th times house.

Congress always emphasis on the word their election symbol is always with general people. This budget shows that they don’t have anything in mind to develop the people of India by anyhow. They want to keep focus on those thing how we can keep those illiterate people as illiterate that means they don’t want to develop the mindset of Indian People. This is very ridiculous that how they can think so much cheap.

This is the reflection of Assembly election in UP, if they won in UP than they can think some bigger package for UP, some good package to Indian Farmer to keep in mind UP. They have always in mind that they have 3 more years to face general election of India. So they don’t fear to take some bold decision in context of raising the Sales Taxes in 2%. It makes costlier all essential commodities. Because it will always summed up with all things which needs carrier.

Everywhere they can rise anything from 0.01% to 2-3% they rise to make the money to implement much awaited Food Security Bill i.e. dream of Honourable UPA chairperson Mrs. Gandhi. This is ridiculous they are making the plan, but never see the future of India. What happen to NREGA, there are lot of corruption news are coming around the country. What about the NRHM scam, politicians are making money in the name of implementing these Plans in their respective states. There are no matter where they are from it means which states. They all have some most corrupted people in their respective states and they always tried to keep their CM’s on their toe. Mr Akhilesh Yadav, youngest chief minister of UP include Mr Raja Bhaiya in their team of ministers. When He sacked Mr DP Yadav everyone thinking that he has courage to clean up the politics of SP, but what happen.

So come to the point, what about the Union Budget 2012. Mr Mukherjee fully focussed on everywhere he can make money to get the rid of fiscal deficit that is going up and up year by year. But we will see what happen is there any progress to decrease the fiscal deficit. They have nothing to do special I know but whenever if general people is talking about the Direct Taxes, there is nothing he has done, but if we go through with Indirect Taxes – Mr Mukherjee has all eyes and keep everything should be higher than last year. If any finance minster reshuffling anything into Direct Tax than everyone will know. But if FM making reshuffle into Indirect Tax than very less people will know how they are going to pay to government and by which way. But Indirect Tax is the area where any government making money to run their annual budge smoothly.

If finance advisory committee proposes the increase the Income Tax slab to Rs. 3 Lacs and Investment upto Rs 3.2 Lacs than why not he think about this. He just increase Rs. 20,000 only. What he thinks this the money that general people can save or this can help by any way to any of those general people whose annual income is just Rs 3.6 Lacs or more. If we can calculate by deducting Rs 2 Lacs from Rs 3.6 Lacs, he will have Rs 1.4 Lacs in which he will save Rs 1 Lac by investing in different sector, Now he has Rs 6,000 to pay tax that will be 10% of Rs. 60,000.

India get its own currency symbol

Indian Rupee Symbol

Congratulation, Mr D Uday Kumar for giving us such a simple and innovative symbol for Indian Rupee to fixed its position in International markets. Now India also can use its own currency symbol for all international activities in financial markets. It is the answer to all the strong currency symbol in world available to know that the status of Indian currency symbol in international financial market. So now we can give the Indian Rupee a new face in International financial market.

It is the combination of Indian Devenagari Script and Roman Script as well with the view of Indian Flag in arithmetic way. That will give us to represent our script and culture in world level. The symbol will be printed or embossed on currency notes or coins. The symbol will feature on computer key boards and softwares so that it can be printed and displayed in electronic and print.

Congratulation once again to Mr. D Uday Kumar.

A game of patience

Hope is a dangerous thing, as investors found out yesterday. If the Finance Minister was guilty of presenting an insipid budget that was low on the detail that the market wanted, investors too were perhaps guilty of expecting too much, too soon. That doesn’t absolve the Finance Minister of a budget that is low on ambition, boldness and vision but at least it teaches investors to not hope for the moon going into a policy event.

The real damage was done when the FM spelt out the 6.8% deficit number implying a large market borrowing programme with little detail on how he “would get back on the FRBM path”. Global rating agencies will pass their judgement in the next few days but the bond market didn’t wait that long. The benchmark bond yield shot past 7% raising fears of interest rate spikes and triggering off a collapse in stock prices. At a macro level, that perhaps was the undoing of the market. At a more micro level, a lot of sectors had run up expecting substantial boosts from the budget. Education, real estate, textile and fertiliser stocks which had meaningful rallies leading up to the event collapsed completely . The surprise was Infrastructure, where stocks sold off as well, as apart from an increased outlay for the NHAI the budget was a bit low on bold moves.

Then there was disinvestment, which the market had pinned some hopes on. The pitiful Rs 1100 crore figure which the FM unveiled dashed those hopes. That number is truly inexplicable.

Not that this budget had nothing postive for the stock market and corporate India. The scrapping of FBT, extension of 10A/10B for IT companies, removal of CTT and no rollback of excise cuts were all positives, partly offset by the hike in MAT. The scrapping of the surcharge on personal income taxes may even be a limited consumption trigger. Tobacco companies were spared the axe this time and ITC was one of the few stocks that ended in the green, contrary to investor fears.

Yet what the market wanted was a green signal, that finally the drought on reforms is over. That a government, shorn of the Left, will press ahead with bold policy moves. The charitable view is to accord the FM the benefit of doubt : he didn’t have enough time to unveil a big bang budget and the best is yet to come, over the next few months and in the next February budget. The cynical view is that the market is running ahead of itself; despite the electoral surprise, things will improve only incrementally and over a much longer duration than investors want. The truth, as often, perhaps lies somewhere in the middle. While investing in India, the virtue of patience cannot be overstated.

Source : Silicon India

IITians now queue up for defense jobs

Call it an effect of sixth pay commission or recession. For the first time ever, 12 percent of the total recruitment at the Defence Research and Development Organization (DRDO) has been from the topnotch IITs of India. Every year, DRDO recruits 500 scientists for all of its 52 labs. This year, 60 of them have been from IITs.

In previous years, all the labs of the organization would manage to recruit one or two engineering graduates from the premier institutes. DRDO human resource officials told Times of India, “After the sixth Pay Commission, the pay, packages and promotion schemes were more streamlined and so was career growth. The scientists no longer have to wait for vacancies to get promotions. Plus, the allotment for awards for the scientists has increased to Rs 2 crore annually, double the allotment last year.”

Sources said, “Seeing the economic scenario, IITians have flocked to the defence organization this year.”

DRDO mainly recruits employees through a common scientist entry test and through campus recruitment across 40 campuses, IITs, central universities and others. The IITians were primarily recruited through the latter. The tag of IIT does not give any weightage in this recruitment process.

In another trend, 30 Non-Resident Indians (NRIs) were also recruited in 2008, of the 150 applicants. Most were to scientist D and E categories, some to science fields and engineering areas of R&D.

The DRDO also has the ROSSA scheme in place now. About 40 scientists, fresh PhD holders, were taken in under the ‘registration of students with scholastic aptitudeï’ scheme.

Even those who left DRDO for private sector are coming back. About 20 scientists are in line to be placed back.

Sources: Silicon India

India is the second largest investor in U.K.

India is the second largest investor in the U.K. in 2008 according to an annual survey conducted by Ernst & Young. Indian companies accounted for 49 projects and trailed the U.S. which accounted to 263 projects. Indian companies were able to beat France and Germany to get the second spot. The study sees Bangalore and Mumbai as the next top centers of Global investment.

“The primacy of long-established centers in the developed world, including Europe’s capitals, is being challenged by emerging Asian cities such as Shanghai and Bangalore and by regional cities acquiring international expertise,” said Marc Lhermitte, Partner at Ernst & Young and author of the report. The study also revealed that business leaders believed Shanghai and Mumbai are seen as more credible alternatives than New York and Silicon Valley or London.

The survey also revealed that London is Europe’s preferred destination for foreign investment. Even though London accounted for 262 of the 686 new projects in the U.K., foreign investment in London fell by 13 percent over the last year. Europe is seen as safe place to invest in. “The BRIC regions (Brazil, Russia, India, China) are not providing the absolutely safe ground that international investors are looking for. Europe is seen as predictable and safe,” added Lhermitte.

The U.K. retained its ranking as the most attractive European location for foreign direct investment. The U.K. attracted 686 investment projects in 2008, four percent less than in 2007. The 686 investments in the U.K. created 20,000 jobs, ranking the county as the number one location for FDI job creation in Europe.

Sources: Silicon India