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Live: 2011 Indian budget highlights & Analysis

February 28, 2011 By 1 Comment
2011 Union budget

  Union Finance Minister Pranab Mukherjee will present 2011 Union Budget at 11 AM. This was the sixth budget presentation by the Bengal man. Prime Minister Dr. Manmohan Singh also made 6 budget speeches in the Parliament. We will update the highlights of Budget speech and how they impact the common man & Stock market investors. Ahead of elections in West Bengal, Kerala, Tamil Nadu & Assam, finance minister may present Populist Budget.   Our rating for 2011-12 Budget: 8/10  Net effect: Concentrate on rural economy & invest in companies which will benefit from increase in rural consumption.  Highlights of 2011-12 Union Budget:    Huge sops to Agriculture sector and agro-companies.  Bad news: MAT rate hiked to 18.5% & central excise duty and Serivce tax at 10%.   Income tax exemption limit:  80 years or above age: 5 lakh  60-80 years age: 2.5 lakh  Others: 1.8 lakh   2011 Fiscal deficit: 5.1% & 2012 estimate: 4.6% of GDP   FY 2012 Disinvestment target: 40,000 crore  24% increase in allocation to education & 20% hike in allocation to health sector.  Broadband to 2,50,000 villages in 3 years. National Knowledge network (schools & colleges) by March, 2012.  17% increase in budget allocation to social sector schemes (58,000 crore to Bharat Nirman)  5-fold strategy to control black money and Money laundering.  Increase in limit to farm credit: 4.75 lakh crore. Just 4% interest on short term agricultural loans (if you pay in time). 7% interest if you fail to pay … [Read more...]

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Outlook released new Nira Radia tapes

December 11, 2010 By 1 Comment

  Outlook Magazine releases new audio tapes involving the conservations of Nira Radia with Businessmen, Bureaucrats, Media persons and Political leaders. Magazine journalists unearthed another 800 audio tapes which are expected to create tremors in many circles. Many great people (!) may lose credibility among ordinary citizens due to this daring expose. Tapes involved dicussions about 2G scam, Coalition Government formation, Spectrum and gas issues. Corporate lobbyists have total control over all the segments of society including media. So, only courts can save Indians.  All these tapes are now in safe custody of Supreme Court.  Click here to read text of conversations of Nira Radia on Outlook website.  Tapes involve conversations of Nira Radia with famous personalities like ..................  Confirmed: Nira Radia is the most powerful person in India. This is my belief after hearing these tapes.  Mainsteam media should broadcast these tapes. No excuses this time, please!   … [Read more...]

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RBI hiked repo & reverse repo rates

November 2, 2010 By Leave a Comment

  Reserve Bank of India increased Repo rate and Reverse Repo rates by 25 base points to control inflation. But, RBI has not touched Cash Reserve Ratio (CRR). These changes will come into effect immediately.  RBI decisions:  1. Increase in repo rate from 6% to 6.25%  2. Increase in reverse repo rate from 5% to 5.25%  3. No change in CRR  These moves will help (partially) in cooling down Real Estate speculation which is now reaching mad levels in many areas across India as Indain banks have been agressively lending at "teaser rates".   … [Read more...]

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Indian rupee gets new symbol

July 15, 2010 By Leave a Comment
indian-rupee

  Cabinet approved new symbol for Indian currency (rupee). India rupee finally joined the elite list of currencies with unique symbol.  Currencies with symbols: US Dollar, Euro, UK Pound, Yen and Indian Rupee  Indian rupee symbol Designer: D. Udaya Kumar, IIT-Guwahati assistant professor.  Cash prize: 2.5 lakh rupees.    Indian rupee is the fifth currency in the world to have unique symbol. Keyboard manufacturers are expected to manufacture with "rupee symbol" in 3-4 months.  My rating for symbol: 9/10    … [Read more...]

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Supreme court verdict on RIL-RNRL gas row

May 7, 2010 By 1 Comment

  Supreme court will once again look at this case after 6 weeks. Ball is now in Government to decide on price in consultation. RIL is in green in weak market while RNRL crashed. Family MoU has no standing on national assets. Both RIL and RNRL are listed companies on both NSE and BSE. Anil Ambani attended to hear this crucial judgement.  Judges on bench: Chief Justice, KG Balakrishnan, Justice P Sathasivam and Justice B Sudershan Reddy. KG Basin gas row is one of the biggest battles in the history of Indian corporate history. KG Gas basin in located near Kakinada town in Andhra Pradesh. Reliance Industries of Makesh Ambani found huge gas reserves in Krishna Godavari basin. As per family agreement, RIL needs to supply 28 mmscd gas from D6 block for 17 years to RNRL at 2.34 dollars per unit. But, Government thought that that price was too low. RIL decided to hike gas supply rate to $4.2 per unit. RNRL went to court citing that it is violation of agreeemnt and it will affect its business plans. Government's argument: KG basin gas is a national asset. Price should be fair.  RNRL argument: RIL should respect family agreement. Hike in price will affect its business plans.  RIL argument: I am a contractor. Gas is a national property. Company needs to follow government orders as RIL is just a contractor.    … [Read more...]

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