For Modi3.0, some low hanging fruits!!

 1)Bringing Indian fugitives like Vijay Mallya, Nirav Modi to be done on war footing signalling strong msg;

2) all Ministers, sitting MPs, MLAs , other PEPs,and their Kins' Agricultural Incomes must b taxed under Income tax w/o any exemption; 

3) instead of Capital Gain taxes please introduce real estate transaction tax, gold & diamond etc jewellery TT like STT . 

4)STT for unlisted Co shares can be introduced. Even for Listed Shares, STT can be slightly increased and cumbersome Capital Gain tax can b removed

5)"News Channels" of all Politically Exposed Persons or run by their relatives or funded by them or controlled by them should be banned. They can run entertainment or other channels but should not be allowed any "News" content to be telecast.

6)All Local Bodies Tax, EB Tariff, User charges for Water, Drainage etc. may be CPI Inflation Indexed with +/- 1%

7)Remove all zero rated GST on products and introduce atleast 1% GST with eligibility for input tax credit not exceeding 1% on input costs.

The above are some of my recommendations to Modi for plucking some low hanging fruits to make maximum impact.

Stock Options for BPL families- A Bottoms Up! approach for Modi 3.0

 Modi 3.0 is facing primarily two crises:

1)Unemployment and Under employment or lack of adequate jobs that pay well.

2)Widening of gap between the top 1% of the population and the bottom 50%;

Price rise, inflation , stagnating Private Consumption Expenditure, feeling of high GST and IT rates among the youth are all problems of Expenditure when there are incomes and gainful employment.

Unemployment hits the Bottom of the Pyramid more severely than at the top of the Pyramid.

Economists and Political Thinkers have proposed solutions like encouraging  and or incentivising the labour-intensive manufacturing and services sector in rural and semi-urban areas.

This is doable but whether such jobs are sustainable in the long run is a million dollar question say e.g Textiles etc.May be Cement , Steel and other metal manufacturing may have long term prospects but Pollution Control becomes a difficult task on hand.

 Private Final Consumption Expenditure is languishing for two reasons

1)primarily because of Rural distress exacerbated by poor monsoon last year

2) Pentup demand after Covid drove PFCE higher last year and so on top of that it has moderately increased by 4% in the current year.

The major question of wealth distribution can be attempted through Stock market.

1)Poor i.e BPL families and families of labourers from Unorganised Sector can be asked to subscribe to a Group Fund by making a SIP contribution starting from Re1 and Govt on its part can contribute an equal amount every year.

2)This Corpus Fund can then subscribe to the basket of top 500 of NSE/BSE Companies.This basket can be given at a discount of 25% to Market price thro a special SEBI legislation and when the subscriber wants to opt out, he can be allowed to sell to the Corpus at a premium of say 10% to the prevailing Market price.

3)This will be a kind of Stock Options for BPL families and the scheme can be modified to suit the ground realities.

Weekend musings!!

 "பரதனுக்கோ ராமனின் 

 பாதுகா  காப்பு  ;

ராம ராஜ்யமே 

பாரதத்துக்கு பாதுகாப்பு இன்று  !!" 

                                      ====><====

மக்கான மக்கள் நாம் 

மக்காத பிளாஸ்டிக் குப்பை சேர்த்து 

வக்கற்ற  மாக்களின் 

வயிற்றைக்  கிழித்தோம் 😓

மக்காத குப்பை மக்(கு)களையும்  விழுங்குமோ !

                                    ====><====

சாராயக்கடை - சா(ராய)க்கடை !

'சாக்'கடை -சாகப்போகும் கடை ;

சுருக்கமா மயானம் !

Indian Core Sector growth and IIP growth show upswing

 The combined Index of Eight Core Industries (ICI) increased by 6.2 per cent (provisional) in April, 2024 as compared to the Index in April, 2023.The Core Industries Index increased by 6 % in March 2024. The production of Electricity, Natural Gas, Coal, Steel, Refinery Products, Crude Oil and Cement recorded positive growth in April 2024 and only Fertilisers showed a marginal decline in April 2024.The last few years trend data given below will provide important inputs as to the growth of this Core Sectors in India:

Industrial output as measured by IIP in India rose by 4.9% on an annual basis in March 2024, slightly below market expectations of a 5.1% growth. Manufacturing output which accounts for nearly 78% of total industrial production, expanded by 5.2% with surged growth noted for metal products exc. machinery (+20.3%), electrical equipment (+14%), transport equipment (+25.4%) and furniture (+31%). Moreover, output was also higher for mining (+1.2%) and electricity (+8.6%). source: Ministry of Statistics and Programme Implementation (MOSPI)

According to the Ministry of Statistics & Programme Implementation (MoSPI), India's Index of Industrial Production (IIP) for March 2024 was 159.2, with a base of 2011-12. This represents a 4.9% year-on-year growth in factory output, which is a slight decrease from the 5.6% growth in February 2024. The mining sector's performance was a major factor in the slowdown, with its index at 156.1 for March 2024. However, other sectors, such as manufacturing and electricity, saw growth, with indices of 155.1 and 204.2 respectively. Within the manufacturing sector, the manufacture of basic metals, pharmaceuticals, and other transport equipment all contributed to the IIP's growth

Courtesy:Trading Economics website