Indian Economy

[crazywithmath]

it is the one nation we NEED to fear due to them offering us next to zero in economic benefits via FTA and their media and financial power and known global pedigree for terror and anti national financing.

thats one of the major reasons we are the aasha parekh and UK is the rajesh khanna trying to chase us and not the other way round.

Read the second part of my post (now edited). The draft BIT they are negotiating (whose details were made public, btw) are not too different from the old one ;

And I am not at all worried about jihad money or whatever flowing into India - we had a bilateral investment pact with the UK up until very recently (before it got scrapped owing to the retrospective taxation thingy). Nothing happened.

If anybody 'misuses' the BIT provisions (part of the FTA) it will be the govt of India (who will make all sorts of unrealistic batshit crazy tax demands and bully the foreign companies/vendors); not anybody else.

A quick summary of their 'disputes' with Vodafone;

Retrospective taxation: the Vodafone case, and the Hague court ruling

The court has also asked India not to pursue the tax demand any more against Vodafone Group.

indianexpress.com

 

[crazywithmath]

-> Be govt of India
-> Make crazy tax demands which make no sense
-> Affected companies take the legal route
-> Gormint loses in the Courts
-> Companies breathe a huge sigh of relief
-> Gormint's ego is hurt
-> Under the visionary leadership of Ji, the babus introduce 'retrospective' provisions - effectively, nullifying the court rulings
-> Gormint makes fresh demands to screw companies
-> Rinse and repeat

Retrospective GST input tax credit amendment to impact commercial realty

The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, disallowing ITC on construction expenses for leased properties. This affects real estate developers by reinstating tax demands and could lead to increased compliance burdens...

economictimes.indiatimes.com

Vishwagorilla, indeed.

 

[DingDong]

-> Be govt of India
-> Make crazy tax demands which make no sense
-> Affected companies take the legal route
-> Gormint loses in the Courts
-> Companies breathe a huge sigh of relief
-> Gormint's ego is hurt
-> Under the visionary leadership of Ji, the babus introduce 'retrospective' provisions - effectively, nullifying the court rulings
-> Gormint makes fresh demands to screw companies
-> Rinse and repeat

Retrospective GST input tax credit amendment to impact commercial realty

The government's retrospective amendment to the Finance Bill 2025 overrides the Supreme Court's ruling from October 2024, disallowing ITC on construction expenses for leased properties. This affects real estate developers by reinstating tax demands and could lead to increased compliance burdens...

economictimes.indiatimes.com

Vishwagorilla, indeed.

Where did you think that "burnt cash stash" come from? Some of the SC judgements have been questionable, to say the least. Those judgements have costed the government thousands of crores in terms of lost revenue.

It is not always government's fault, and the businesses aren't always "law abiding".

 

[concard]

Bruh, UK barely has an industry. It is one nation we need not fear and yet, the negotiations are stuck because Goyal and co will not sign a deal before bagging some 'business visa quotas' for TCS/Infy coolies (who will be paid in INR, btw). Japan, Korea have competitive industries, what will the UK even export? They do not even manufacture steel.

And I am not at all worried about jihad money or whatever flowing into India - we had a bilateral investment pact with the UK up until very recently (before it got scrapped owing to the retrospective taxation thingy). Nothing happened.

They have started talks with UK again with new Labor government. The previous government wanted to bid even in government contracts which India did not agree. Right now, UK is asking lower or no tariffs on Whisky, automobile imports etc. They are also negotiating bilateral investment treaty and social security agreement. This might be the reason for the delay. Don't underestimate them saying they don't have a industry. If we do not read the fine print we will get screwed. Piyush is a tough negotiator, let's see how it goes.

 

[crazywithmath]

Where did you think that "burnt cash stash" come from? Some of the SC judgements have been questionable, to say the least. Those judgements have costed the government thousands of crores in terms of lost revenue.

It is not always government's fault, and the businesses aren't always "law abiding".

Article on the exact incident;

Vodafone redux: Retrospective taxation in a new avatar

Learning from mistakes is not a virtue our policy and decision makers can boast of. Nothing else explains their recent recourse to retrospective taxation. Last year, the government lost a case involving input tax credit...

timesofindia.indiatimes.com

If the govt won't abide by the Supreme Court rulings why keep them running at all? Suppose you are an investor, you remain invested for a decade and then the govt babus come up with demands over some business you did 8 years back, how will you feel? How exactly can you run a 'law abiding' business when the govt can tax you retrospectively?

And this govt is a routine offender, it is not a one off incident;

SC stays GST action against e-gaming companies | India News - The Times of India

India News: NEW DELHI: The Supreme Court on Friday stayed Goods and Services Tax (GST) proceedings against 49 online gaming companies over retrospective demand no.

timesofindia.indiatimes.com

Retrospective 5% GST likely on food app delivery charge - Times of India

India Business News: NEW DELHI: Amid its focus on health and term insurance, the GST Council, which will meet on Saturday, is expected to clarify that a 5% levy on deliver.

timesofindia.indiatimes.com

They will keep beating their chests citing 'muh improved ease of doing business' and then come up with crap like this, how do you run a 'law abiding' business in this environment?

Which other country amends its laws in the Parliament to claim taxes retrospectively? Are companies supposed to hire astrologers to anticipate future tax demands?

 

[Migflug]

View: https://x.com/ANI/status/1909183305419010272?t=kDx_bWGFsL0ZCwoNXOqCug&s=19

 

[crazywithmath]

They have started talks with UK again with new Labor government.

They have started negotiating again cuz Goyal and co think that the Labor govt, unlike the previous conservative administration, will be more amenable to their 'business visa quota' demands. No, I am not kidding - that is exactly how it is. Go through the articles I shared in my previous posts.

 

[crazywithmath]

View: https://x.com/ANI/status/1909183305419010272?t=kDx_bWGFsL0ZCwoNXOqCug&s=19

OMCs have been told to absorb the increase in prices, apparently. At least the oil PSUs and the Ambanis will make less profits. @Azaad

View: https://x.com/ANI/status/1909187773476528559?t=SR4mfzstDdphXQwXYa_Vtg&s=19

Correct

Yeah, they are sitting atop record profits right now. Crude is close to $ 60 a barrel.

 

[Migflug]

OMCs have been told to absorb the increase in prices, apparently. At least the oil PSUs and the Ambanis will make less profits. @Azaad

View: https://x.com/ANI/status/1909187773476528559?t=SR4mfzstDdphXQwXYa_Vtg&s=19

Correct

 

[concard]

Oil prices are below $65. If it stays below that threshold for 2 years running, GoI will have a windfall in tax collections which hopefully is used for bridging the deficit and getting inflation down below 3%. Having said that I hope GoI doubles down on manufacturing. If failed entity like BSNL can get 1.6 Lakh crore then I am sure lot of sectors can get until 5 Lakh crores. Electronics, Chemicals, battery sectors, automobile, all need massive PLI schemes. Our engineering exports alone should be $500 billion by 2029.

 

[crazywithmath]

50 Rupee increase in LPG cylinder prices despite falling ethane. And then if I mock Hardeep Puri, the absolute clown, some guys will get upset.

LPG cylinders to get costlier by Rs 50 from tomorrow, Oil Minister Puri says

The price of liquefied petroleum gas (LPG) will rise by Rs 50 per cylinder starting April 8, according to Union Oil Minister Hardeep Singh Puri. The government will review LPG prices bi-weekly. Additionally, excise duty on petrol and diesel is being increased by Rs 2 per litre, but retail prices...

economictimes.indiatimes.com

Either way, having constantly mocked Ji and his clowns for the past 3 days I am probably sounding like a bhosdapiller rn so giving it a rest. Let these morons get played by the babudom (this is probably the best time to be a babu in India, lol - they are way more powerful than these chu** Ministers).

 

[crazywithmath]

50 Rupee increase in LPG cylinder prices despite falling ethane. And then if I mock Hardeep Puri, the absolute clown, some guys will get upset.

LPG cylinders to get costlier by Rs 50 from tomorrow, Oil Minister Puri says

The price of liquefied petroleum gas (LPG) will rise by Rs 50 per cylinder starting April 8, according to Union Oil Minister Hardeep Singh Puri. The government will review LPG prices bi-weekly. Additionally, excise duty on petrol and diesel is being increased by Rs 2 per litre, but retail prices...

economictimes.indiatimes.com

Either way, having constantly mocked Ji and his clowns for the past 3 days I am probably sounding like a bhosdapiller rn so giving it a rest. Let these morons get played by the babudom (this is probably the best time to be a babu in India, lol - they are way more powerful than these chu** Ministers).

User @jaijaganath never fails to like my posts whenever I criticize/mock Ji and/or his clowns. This is some consistency, lol.

 

[jaijaganath]

Mahindra Unveils New India Design Studio To Shape Next-Gen Global Icons

Mahindra & Mahindra Ltd. (M&M Ltd.), one of India’s leading automotive companies, has inaugurated its all-new Mahindra India Design Studio (MIDS) in Mumbai

www.rushlane.com

 

[sameer]

After Trump, EU seeks zero tariff from India on car imports, sources say

The European Union wants India to scrap high car import tariffs under a pending trade deal. Sources say India may cut duties in phases to 10% from over 100%, despite industry calls to keep a 30% tariff and protect EV makers by maintaining current rates for another four years.

economictimes.indiatimes.com

 

[notaname]

50 Rupee increase in LPG cylinder prices despite falling ethane. And then if I mock Hardeep Puri, the absolute clown, some guys will get upset.

LPG cylinders to get costlier by Rs 50 from tomorrow, Oil Minister Puri says

The price of liquefied petroleum gas (LPG) will rise by Rs 50 per cylinder starting April 8, according to Union Oil Minister Hardeep Singh Puri. The government will review LPG prices bi-weekly. Additionally, excise duty on petrol and diesel is being increased by Rs 2 per litre, but retail prices...

economictimes.indiatimes.com

Either way, having constantly mocked Ji and his clowns for the past 3 days I am probably sounding like a bhosdapiller rn so giving it a rest. Let these morons get played by the babudom (this is probably the best time to be a babu in India, lol - they are way more powerful than these chu** Ministers).

If we see this from another POV, it was already low before LS elections we used to get it for around 1200 or something now it is 800 and some change, now they have increased it with 50 so even with this increase it is low.

And I think they are going to sign a deal with orange man so to offset that duty revenue loss they thought of this. I am just assuming here.

 

[concard]

After Trump, EU seeks zero tariff from India on car imports, sources say

The European Union wants India to scrap high car import tariffs under a pending trade deal. Sources say India may cut duties in phases to 10% from over 100%, despite industry calls to keep a 30% tariff and protect EV makers by maintaining current rates for another four years.

economictimes.indiatimes.com

Our cars have no chance in EU, at least not now where their presence is zero. Allowing EU cars to be dumped in India will be a big big mistake. This should not be agreed upon. There will be zero value addition to India. India will be used as a basket case by EU. If they want access to Indian market they should set up manufacturing here. Otherwise they can kiss Trump's ass for all we care.

 

[eastern_bhartiya]

View: https://www.youtube.com/live/oa2P4zFRdsU?feature=shared

So basically, nirmala aunty decided to give tax babus, the power of police ?

And seriously before anybody brings up natsec point, while it's important, it's also important that babus don't get to freely harras businesses and do whatever the fuck they want.

The guest the video brings up the point that govt itself has to invest in high tech sector and create spark for these kind of thing.

 

[jaijaganath]

User @jaijaganath never fails to like my posts whenever I criticize/mock Ji and/or his clowns. This is some consistency, lol.

I like other posts too if I read it and feel to do so
I neither have time nor interest or ur so called "ji"
Past 2 days I felt it right to like it
No need to think a lot
So chill!

 

[Ajayant Tripathi]

Oil prices are below $65. If it stays below that threshold for 2 years running, GoI will have a windfall in tax collections which hopefully is used for bridging the deficit and getting inflation down below 3%. Having said that I hope GoI doubles down on manufacturing. If failed entity like BSNL can get 1.6 Lakh crore then I am sure lot of sectors can get until 5 Lakh crores. Electronics, Chemicals, battery sectors, automobile, all need massive PLI schemes. Our engineering exports alone should be $500 billion by 2029.

India is a developing country. We should not have low inflation either. Ideally a 5 percent inflation is great for us. Something below 4% is just bad bad.

The govt. should use this fiscal oppurtunity to build massive infrastructure. Maybe pass HSR project.

 

[eastern_bhartiya]

India is a developing country. We should not have low inflation either. Ideally a 5 percent inflation is great for us. Something below 4% is just bad bad.

The govt. should use this fiscal oppurtunity to build massive infrastructure. Maybe pass HSR project.

HSRs are difficult in india, because of land acquisition issues and political differences between state govts