Tweets on #PublicPolicy #Governance #Economy #Politics and #Investing
Kashmir, India
Joined February 2009
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Building on Narasimha Rao’s reforms, Vajpayee combined fiscal discipline, infrastructure investment, and major second-generation reforms delivering India’s first unprecedented streak of high growth and low inflation from 2003 to 2007.
As the momentum from Vajpayee’s reforms faded, MMS squandered the gains, by adopting fiscal profligacy, rampant corruption and unprecedented loan binge. India returned to the Congress-era pattern of low growth and high inflation. By 2013, we were broke.
First term of Modi Govt was spent in cleaning up of the fiscal and banking system mess that MMS had left behind and at the start of the 2nd term came the Covid shock.
Since the COVID shock, India has entered a second period of high growth and low inflation, similar to 2003–07 but with one key difference.
The 2003–07 expansion benefited from strong global growth, which provided India with a tailwind. The current expansion, by contrast, is unfolding amid global turmoil, trade wars, and armed conflicts.
We must stay the course and pray that this is not inturrupted by another #DecadeOfDecay
We, the People of India retweeted
Super charged for Modi's return!
Ghar-ghar Bhagwa chhayega
Modi wapas aayega
Ek hi naara ke hi naam
Jai Shri Ram Jai Shri Ram
While it may not be upto the BJP, as EC has its own constitutional authority, I wish BJP figures out a way to go back to the ballot papers.
With BJP now controlling the levers of power, they will soon enough start crying booth capturing and demanding return of EVM.
#WATCH | Delhi: On PM Modi's tweet, Congress leader Supriya Shrinate says, "There are two points. PM Modi has acknowledged that elections conducted via ballot are credible, while there is public skepticism regarding EVMs. As the Prime Minister, it is your responsibility to address and resolve this skepticism and conduct elections using ballots. Second, why did the BJP lose in Varanasi? If a Lok Sabha election were to be held using ballots, you could end up losing Varanasi entirely... By acknowledging that ballots are more credible, Prime Minister Modi is effectively admitting that there is an issue with EVMs... Explain how you lost Varanasi when ballots were used..."
We, the People of India retweeted
Cracker of a listing of Jio platform, after the record breaking IPO.
And the icing on the cake is the rooted speech of Anant Ambani laying out the digital connectivity for the Viksit Bharat.
Anant recalled how telecom democratisation kept schools running and doctors accessible during COVID "Beech mein bas ek connection: Jio".
Delivered with strong cultural grounding in Hindi, it reinforced that a Viksit Bharat relies on the digital inclusion of its 53 crore citizens. "Bharat ki sabse badi poonji, uske sapne hain"
This shows against what odds and at what personal risk Captain Smit Machchhar showed the grit to fight.
And I hope those who were floating conspiracy theories die of shame.
Cracker of a listing of Jio platform, after the record breaking IPO.
And the icing on the cake is the rooted speech of Anant Ambani laying out the digital connectivity for the Viksit Bharat.
Anant recalled how telecom democratisation kept schools running and doctors accessible during COVID "Beech mein bas ek connection: Jio".
Delivered with strong cultural grounding in Hindi, it reinforced that a Viksit Bharat relies on the digital inclusion of its 53 crore citizens. "Bharat ki sabse badi poonji, uske sapne hain"
We, the People of India retweeted
Modi govt has been on record that it wants to treat all asset classes as same for the purpose of taxation.
It would be a step backwards to drop taxes on LTCG only on listed equity.
What is in the works is to allow foreign investors to be not taxed for equity investment gains, just like India did for GSec recently and as is the practice world over.
LTCG removal for listed equities alone for all investors including Indian residents will be a big blow for domestic venture capital and private equity as well as other real economy assets like InvITs, REITs and real estate: once again, investors will rationally decide not to invest in venture funds, startups and other real assets. They will prefer financial assets which have zero tax.
Please think rationally - do you want people to invest in tomorrow’s Zomato, Ather Energy, Paytm and others (including many startups that won’t be home runs, but will create many jobs and drive capital investment), or do you want people to invest with zero tax into Britannia Industries, Tata Power, Reliance and other established companies.
This distorted taxation was especially a challenge for strategic, deep tech sectors where foreign investors anyways don’t invest (foreign pensions, endowments and others are usually barred from investing in defence tech and critical tech).
Don’t crib tomorrow then, why doesn’t India have venture capital investing in hard tech or why don’t Indian startups innovate more.
A few years of volatility and flat returns has entire jamaat of stock market “investors” crying buckets. Grow up, if you can’t stomach this level of turbulence, stick to bank fixed deposits.
Modi govt has been on record that it wants to treat all asset classes as same for the purpose of taxation.
It would be a step backwards to drop taxes on LTCG only on listed equity.
What is in the works is to allow foreign investors to be not taxed for equity investment gains, just like India did for GSec recently and as is the practice world over.
LTCG removal for listed equities alone for all investors including Indian residents will be a big blow for domestic venture capital and private equity as well as other real economy assets like InvITs, REITs and real estate: once again, investors will rationally decide not to invest in venture funds, startups and other real assets. They will prefer financial assets which have zero tax.
Please think rationally - do you want people to invest in tomorrow’s Zomato, Ather Energy, Paytm and others (including many startups that won’t be home runs, but will create many jobs and drive capital investment), or do you want people to invest with zero tax into Britannia Industries, Tata Power, Reliance and other established companies.
This distorted taxation was especially a challenge for strategic, deep tech sectors where foreign investors anyways don’t invest (foreign pensions, endowments and others are usually barred from investing in defence tech and critical tech).
Don’t crib tomorrow then, why doesn’t India have venture capital investing in hard tech or why don’t Indian startups innovate more.
A few years of volatility and flat returns has entire jamaat of stock market “investors” crying buckets. Grow up, if you can’t stomach this level of turbulence, stick to bank fixed deposits.
Looks extremely tough for Yogi ji to win this one.
In the last Assembly elections in 2022, when SP was not in alliance with Cong, the vote share lead of NDA was 7.22% points.
IN #LS24, when SP and COng were in alliance, vote share lead of NDA shrunk to just 0.17% points, with inferior seat conversion (NDA won only 36/80 seats).
UGC could flip, may be a few percentage points and that could make a difference between win and loss.
India losing relevance for global allocators should deeply worry the Modi Govt.
We need a lot of capital to grow and to realise our dream of viksit Bharat.
We must become attractive for foreign capital.
From the noise, it seems imminent that Foreign investors will get the same relief on tax on LTCG on Equity, that earlier this year was announced for G-Secs.
For Indian investors, dont raise your hopes. Dont think any relief is coming. There is no case for it.
NDA MAY CHANGE LTCG TAX RULES SOON.
If NDA wants foreign capital it knows that the LTCG TAX is a price it can no longer AFFORD.
Decision on LTCG TAX RULES possible in the next few weeks. Money Control reports that currently, 12.5% tax applies on amounts over ₹1.25 lakh.
Government has held several meetings on current LTCG rules and their impact. By doing so NDA trying to make Indian markets attractive for FPIs.
There is NO LTCG tax on selling shares in US, UK, Singapore, Hong Kong, UAE
On 13 Oct, Finance Minister had said she would hear views on removing LTCG
There should be consequences for Indian Express, its Editors and the Journalists.
#BREAKING on Bar & Bench
Election Commission of India files counter affidavit in Supreme Court on plea against CEC's functioning; says petition built entirely on a single news report
What ECI says:
🔹 Affidavit approved unanimously by all three members: the CEC and both Election Commissioners
🔹 All three SIR orders (June 2025, October 2025, May 2026) were unanimous decisions of the Commission
🔹 Notes, queries or suggestions by the CEC or ECs while a file moves are not decisions of the Commission
🔹 Files go to one EC, then the other EC, then the CEC. In urgent cases, approval is taken electronically and recorded on file later
🔹 Any officer issuing orders beyond delegated powers will face action
🔹 July 28 work allocation order was issued by an Additional Secretary on deputation. Both ECs wrote to the Cabinet Secretary the next day. The order was never implemented after the ECs' joint direction of July 30
🔹 Form 6 has not been amended. Only the Centre can amend it. The SIR declaration is a separate document
🔹 Admits the online display could be read as an amendment. From October 21, the online application will be split into Form 6 and the declaration, as in the physical form
🔹 Unmapped voters need not attend hearings. BLOs will collect documents from their homes. Hearings only in exceptional cases, preferably online
🔹 ECINet: no name is added or deleted except by order of the ERO. A committee with experts from IIT and IISc has been set up to check compliance
🔹 Goa: of 97 "left out" voters, 88 had already been enrolled, 6 were abroad and 3 held Portuguese passports
🔹 West Bengal appeals against inclusion of voters were filed by officers of the CEO, West Bengal, under Supreme Court orders. "These matters were not brought to the Commission"
🔹 Plea to restrain the CEC is not maintainable. CEC can be removed only like a Supreme Court judge
🔹 Commission never released or authorised the release of any internal note or file to the media
🔹 Repeated challenges to EVMs already rejected by the Supreme Court
🔹 Short reply filed due to Dussehra vacation. ECI seeks liberty to file a detailed para-wise response
#ElectionCommission #SupremeCourt #SIR
The most consequential trade deal thus far
🇮🇳 India and the US have concluded most discussions on their proposed trade pact, Piyush Goyal said.
📋 Negotiators are fine-tuning the agreement, aimed at doubling bilateral trade to $500 billion by 2030.
🤝 India has also indicated plans to purchase $500 billion in US goods over five years.
swarajyamag.com/news-brief/p…
So much for Judiciary preserving and upholding the basic structure of the Constitution.
It's a naked coup!
Those arguing: not a single member of the constituent assembly argued for the judiciary to appoint judiciary. Only one member sought veto rights by the CJI. Dr. Ambedkar said giving the CJI final authority through veto was dangerous "I therefore, think that is also a dangerous proposition". See debates of 24 May 1949:
constitutionofindia.net/deba…
