Worried for the Iron lady! Whatever America wants,Modi is making in.GST opens the killing field in Indian Business. I am afraid that the cakes for this Christmas is not going to be so sweet as it happened to be.The snowfall and the chilling weather in the hills,is enveloping the Christmas day as legislation is meant ethnic cleansing now. Palash Biswas

Worried for the Iron lady!

Whatever America wants,Modi is making in.GST opens the killing field in Indian Business.

I am afraid that the cakes for this Christmas is not going to be so sweet as it happened to be.The snowfall and the chilling weather in the hills,is enveloping the Christmas day as legislation is meant ethnic cleansing now.

Palash Biswas

Worried for the Iron lady!

Whatever America wants,Modi is making in.GST opens the killing field in Indian Business.

it is not limited to FDI at all mind you,the basic structure of Indian economy and the federal setup are being broken as the peasantry has been killed and service proirities have dumped indigenous business and industry.Retail FDI is not a factor at all as Etailing has taken over Indian market.

The Constitution Amendment Bill on Goods and Services Tax, that will pave the way for a mega tax reform, was tabled in the Lok Sabha today. In the Rajya Sabha, Finance Minister Arun Jaitley said the government would formally take up the bill and seek to pass in the next session of Parliament. The current session ends on Tuesday next.

NDTV reports,here is your 10-point cheat-sheet to the Goods and Services Tax (GST):

• The GST provides a major taxation reform by introducing a national sales tax that will replace a myriad of overlapping state duties that deter investment. The cabinet this week approved a constitutional amendment bill that paves the way for the introduction of GST.

• Mr Jaitley described the GST as the "single biggest tax reform since Independence" and a "win-win situation" for both the Centre and states and said the bill would not hold a "fear of the unknown" unlike the Value Added Tax or VAT.

• The Finance Minister said the concerns of all states have been addressed in the new provision of the bill after consultation. He said the interest of states would be adequately protected and that he did not foresee a situation where states would be the losers.

• Investors and manufacturers have long advocated the GST as a way to simplify taxes while broadening the tax base, adding as much as 2 percentage points to economic growth in Asia's third-largest economy.

• Some of India's 29 states were reluctant to give their assent for fear of revenue losses. In a compromise, Mr Jaitley has offered to compensate the states for any loss of revenues following the implementation of the GST.

• The government aims to bring the tax into effect from April 1, 2016.

• With only two working days left in this session the Bill will be taken up for debate in the Budget session which will begin in February.

• Since the bill seeks to amend the Constitution, it needs to be cleared by a two-third majority of both houses of Parliament. The government will face no problem in the Lok Sabha, where it has huge numbers, but it is in a minority in the Rajya Sabha and will need the opposition's support.

• The proposal will then have to be cleared by at least half of the country's state legislatures before it becomes a law.

• GST will replace a number of indirect taxes currently levied by both the Central and State governments and seeks to provide a common national market for goods and services. Once in force, GST will reduce the total number of indirect taxes apart from the customs duty (only on imported goods) to just three.

http://www.ndtv.com/article/cheat-sheet/gst-mega-tax-reform-tabled-in-lok-sabha-637004

I am afraid that the cakes for this Christmas is not going to be so sweet as it happened to be.The snowfall and the chilling weather in the hills,is enveloping the Christmas day as legislation is meant ethnic cleansing now.

This christmas day is slated to be celebrated as sushasan day to celebrate the birthday of Atal Bihari Vajpayee.

The rupee today lost 19 paise against the dollar at 63.30 at close as initial gains were washed out on account of strong demand for the US currency from oil companies even as stock markets were bullish.the FM declares it is not a crisis at all.

The schools would remain closed as Smriti Irani withdrew the controversial circular to keep open the schools.But the optional agenda of the day has to be the topmost priority in the government institutions,it should be understood.Peshawar genocide has rather provoked the Hindutva as never before and the hate campaign against non hindus get momentum.

I am worried for the iron lady we love so much,Irom Sharmila as she has to break her Hunger strike or simply opt for suicide as no one is going to feed her with force.Economic times story is quite worrying which tells that Decriminalising attempted suicide ironically puts Irom Sharmila in danger!

Economic times also tells the story why AFSPA might not be repealed as the Military holds the key of business and industry in the AFSPA region. It is eyeopening.Please read the complete story.

I am afraid that the cakes for this Christmas is not going to be so sweet as it happened to be.

The snowfall and the chilling weather in the hills,is enveloping the Christmas day as legislation is meant ethnic cleansing now.

Narendra Bhai Modi banned in United States of America since Gujarat Genocide,is the blue eyed boy whom America loves most after he got the helms of the monopolistic ruling hegemony of racial apartheid and he serves very well in US interests.

Whatever America wants,Modi is making in.

The latest legislation agenda for the Parliament is going to prove as a cake walk as Mamata Banerjee seems to be managed as she has no option to surrender as Mayawati, Mulayam,Lalu,Jailalitha and Karunanidhi had been managed in the past.

Thus it happened!

The Government on Friday took the first step towards switching to a Goods and Service Tax (GST) regime by introducing The Constitution (122nd Amendment) Bill in the Lok Sabha amid demands for referring it to a Departmental Standing Committee.Mamata has hinted to support the legislation.

The West Bengal government would support the Goods and Service Tax (GST) Bill only if the states were fully compensated for the revenue loss, Chief Minister Mamata Banerjee said Friday.

"States are concerned that their revenue generation should not fall… If you collect Rs 40,000 crore from our state and give us Rs 8,000 crore and say the Centre is giving it, we don't support this. After all this is the money of our state," Banerjee told reporters here.

"GST is in our manifesto, we have committed to support it. But we cannot support it in this form as it will harm the states' interest. States should be fully compensated," she said, indicating that some provisions of the legislation were not in the interests of the states.

Her remarks came on a day when the GST Bill, touted as the single biggest indirect taxation reforms since Independence, was introduced in the Lok Sabha.

Finance Minister Arun Jaitley, however, said in Parliament that concerns of all states have been taken care of and measures would be taken up in the next Parliament session.

The Trinamool chief said the Centre "should allow states to collect their own tax, not collect it on states' behalf. We are fighting for all states not for Bengal alone."

She said her government had objected to the proposed inclusion of petroleum products, tobacco and entry tax in the ambit of the GST and wanted them to be excluded.

"The present form of GST Bill is not what was decided unanimously earlier by the Empowered Committee. When something is decided unanimously, it must be respected. You cannot bulldoze just because someone is in a majority," Banerjee said, indicating the ruling BJP.

Maintaining that there was a promise of adequate compensation to states, she said "you are deviating what was decided earlier. It is against federal structure… The states' views should be heard."

West Bengal Finance Minister Amit Mitra had earlier written to both Finance Minister Arun Jaitley and chairman of empowered committee A R Rather about Bengal's objections.

The decisions taken at July 3 meeting were that petroleum products, tobacco and entry tax should not be subsumed under GST and the Centre's share in inter-state supplies of goods and services should be part of divisible pool and devolved to the state as per the Finance Commission formula, Mitra said.

Banerjee also blamed the erstwhile Left Front government, for the financial "crisis" being faced by West Bengal, saying "because of the last government we are facing serious financial crisis. So do some justice to us."

Now Modi has ensured to pass all the reform laws subjected to amendment and change and deletion before he welcomes President Barack Obama on republic day.

I have been just focusing on governance and policy making and of course legislation since 1991.

We had called to celebrate Constitution day on 26th November as the republic day has been hijacked by foreign capital.

How do they manage the economy?

The rupee today lost 19 paise against the dollar at 63.30 at close as initial gains were washed out on account of strong demand for the US currency from oil companies even as stock markets were bullish.

Finance Minister Arun Jaitley in Parliament, however, said there was "no serious crisis" for the domestic currency as it was stabilising after a few days of "volatility".

"I don't see any serious crisis on the real value of rupee," he asserted.

The rupee had plunged to 13-month low of 63.53 earlier this week amid chaos in global financial markets caused by volatility in Russian currency rouble.

Rupee weakness was also aided by investor fears that US Fed Reserve in December 16-17 meet would start the process of rate hike that would have sucked up liquidity in emerging markets, including India. Much to the relief of investors, the Fed said a rate hike was unlikely in the short-term.

The rupee had declined by a steep 132 paise or 2.12% in three days of losses till December 17 before it notched up a 50-paise gain yesterday.

Forex dealers said strength in dollar which has hit multi-year high in overseas markets, also weighed on the rupee heavily today notwithstanding a rally in local equities.

At the Interbank Foreign Exchange (Forex) market, the domestic unit breached the 62-level in early trade in tandem with gains in stock markets.

The rupee, however, succumbed to selling pressure amid continued capital outflows and settled the day 63.30, a net fall of 19 paise or 0.30% from its previous close.

Foreign portfolio investors sold shares worth Rs 874.89 crore yesterday, as per provisional data.

Pramit Brahmbhatt, Veracity Group CEO, said: "The rupee lost... Taking cues from the dollar demand from oil companies which dented the rupee movement and also the dollar index is trading multi-year high...."

The Finance Minister said "there is a serious challenge as far as emerging markets are concerned due to stronger dollar...

"Rupee is performing better compared to other emerging markets," he added.

"There was turmoil and volatility as far as emerging markets were concerned. After two days of volatility, there is a sobering effect as far as Indian rupee is concerned, he said.

Dec 19 2014 : The Economic Times (Kolkata)

FOLK THEOREM - An Icon's Mortal Coils





Gandhi, Das are back with a vengeance, and Irom is their legatee. Manipur can't afford to let her become a martyr. But it doesn't have the spine to repeal Afspa.

On December 10, New Delhi decriminalised attempted suicide. Till then, a sui cide attempt was punishable with a fine and imprisonment of a year, or both.Twenty-two Indian states have decided to repeal Section 309 of the penal code, and many are celebrating the imminent release of India's most famous `attempted suicide', Manipur's icon Irom Sharmila Chanu, now fasting for 14 years. But it could actually be a mixed blessing for her, if not a sentence of death.

On November 2, 2000, a 28-yearold Sharmila decided to fast to death until the Armed Forces Special Powers Act (Afspa), which lets the military literally get away with murder, was scrapped. That morning, the Assam Rifles, without any provocation, shot dead 10 people waiting at a bus stop in Malom near Imphal. The victims included an 18-year-old boy who'd won a national bravery award, his brother and a 62year-old woman. On November 5, Sharmila was arrested under Section 309, trying to commit suicide, and force-fed through her nose in Imphal's Jawaharlal Nehru Hospital.

Afspa gives the right to use overwhelming force over non-combatants. And it says that forces shielded by the law do not need to justify abductions, searches, imprisonment, torture and killing under its um brella. Most northeastern states and Jammu and Kashmir are covered under Afspa.

Afspa Suits Everyone

For nearly 60 years, New Delhi has refused to repeal Afspa, mainly under pressure from the military. Not that it has helped much. Today, the government records the presence of around 40 active or semi-active `insurgent' groups in Manipur. But it suits everyone. The military is happy with its control over the system and large chunks of the state's economy.

Here's an example. Manipur abolished the production and sale of liquor in 1991 after protests by groups led by the Meira Paibis, or the Mothers' Movement. These groups back Sharmila fanatically . Yet on a visit to Imphal this year, I spotted no inkling of the liquor ban. I was handed a mobile number, which was answered by someone who promised the delivery of the tipple of your choice wherever you wanted it in 30 minutes. Then I noticed a sticker on the bottle: `For sole consumption by defence personnel only . Not for sale to civilians.' Ho-hum.

The civilian government is not bothered, as long as majority Meitei-dominated parties get elected to power. Presumably , some of the takings from graft and extortion trickle up to the top. And the civil rights groups have a mini-industry centred on their icon Sharmila.

Sharmila has said that unless Afspa is repealed, she will not eat. For the last 14 years, the obvious legal way around this form of civil disobedience, fasting to death, was to enforce Section 309, and force-feed the protestor. But what now?

The Indian state cracks down violently on so-called insurgents, Nax als and Maoists, but is helpless be fore non-violent struggles. This is probably because it witnessed the humbling of the British Empire by Mohandas Gandhi's fasts, which were preceded by Jyotin Das who fasted to death in 1929 at 24, and fol lowed by Potti Sriramulu, a Telugu speaking Gandhian who cam paigned for a linguistic state for Te lugus by fasting to death in 1952.

Within a month, the new govern ment led by Nehru buckled in to Sri ramulu's demands. Gandhi, Das and Sriramulu are back with a ven geance, and Sharmila is their lega tee. The Indian state cannot afford her to become a martyr. But it doesn't have the spine to repeal Afspa.

Idol Worship

Today , Sharmila is treated in the rel atively sterile precincts of her hos pital-jail. Years of being fed nasally could have compromised her ability to eat and digest `normal' food. Due to lack of use, many of her digestive organs could have atrophied. She could be treated at home, perhaps, but she is now free to fast to death. If she starts to sink, Manipur, other northeastern states and J&K could erupt in waves of protest.

Sharmila's long years of imprisonment have taken a toll on her private life, such as it is. In 2009, a British citizen of Goanese descent, Desmond Coutinho, started writing to Sharmila and she reciprocated.In 2011, they met in jail in Imphal for the first time. Sharmila now acknowledges that she is in love with him. But the relationship has created umbrage among her supporters.How could their idol let herself be wooed by a mere mortal? And how could he have once said, as the activists claim, that he cared only about Sharmila and not about the greater fight against Afspa?

Perhaps the saddest outcome of all this is the rift between Sharmila and her elder brother, Irom Singhajit, a soft-spoken, gentleman who remains her biggest supporter. Yet, brother and sister have not met for years.

Will Sharmila be ever be free of the shackles of idolatry? In January she told my wife and me, "I am not a god, just a person fighting for her people.And if the cause is achieved, I am free. Then, I'd love to travel a lot."