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amitkbaid1008
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Joined: 04 Mar 2009
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Post: #346  Posted: Mon Mar 12, 2012 11:15 pm Post subject: |
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| ajayhkaul wrote: | On balancing the books ..... INDIA
"....Plan of disinvestment in PSUs has been the government's biggest failure in the 2011-12 fiscal. To top that oil prices have caused subsidy payouts to go through the roof. Funding needs for banks and failing PSUs are pertinent agenda. But raising taxes substantially could mean losing every chance of a comeback for the incumbent government. Hence the novel option that it is looking at is tapping black money stashed abroad. If news reports are to be believed, the Finance Ministry aims to achieve dual goals with the black money. One, bring it back to India. Two, invest it in long term infrastructure projects that are in dire shortage of funds. This certainly sounds better than offering amnesty schemes to those who have stashed black money abroad. But does it not amount to legal money laundering scheme for those who are guilty of parking illegal funds abroad? Moreover, should the government rely on such schemes to bail it out of poor fiscal planning and execution?...."
".....As the fiscal year 2011 comes to a close, the government is desperate to cover the fiscal deficit fiasco. We all know that its plan to cover it up with disinvestment has not gone well. It has now turned to the defence sector for an amount of Rs 40 bn to balance its books. The latter has been asked not to sign any new contracts till end of FY12. The trend is not new. The last decade has already seen defence surrendering cash worth Rs 450 bn to make up for the poor fiscal performance of the Government. And in the process, its procurement plans with long gestation periods have gone for a toss.
The Government's tendency to look for such quick fix solutions makes a mockery of the entire planning process...."
And the US .....
"....Money news reports that the famous TARP money that the US banks borrowed during the peak of the subprime crisis is being repaid to the Government with funds from the Government itself! "Forty percent of the 341 institutions that have exited TARP's biggest single initiative - the $205 billion Capital Purchase Program - simply refinanced their loans through a separate, $30 billion government program known as the Small Business Loan Fund," the article is believed to have said. This certainly makes the whole repayment thing a big mockery...."
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Ajay not expected from you such copy paste article from 5 Minutes Wrap Up of equitymaster
Ye to ham jaise log karte hai |
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rk_a2003
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Joined: 21 Jan 2010
Posts: 2734
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| Post: #347 Posted: Tue Mar 13, 2012 6:04 am Post subject: |
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The text was presented in quotes which is self-explanatory. Nothing wrong in it.If we find something worth presenting from other sources nothing wrong in doing it.
However it could be a problem for the site admins with other web sites references. May be it’s wise to refer the source in a manner acceptable to this forum.
Ajay! people are expecting your own fireworks. May be you need to work harder  . I know how hard it is to produce fireworks on continuous basis |
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ajayhkaul
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Joined: 18 Jun 2009
Posts: 866
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| Post: #348 Posted: Tue Mar 13, 2012 9:27 am Post subject: |
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amitkbaid1008 and RK......please note that the post is clearly in quote marks .
The excerpts were posted for the following :
There are many issues that I wrote about and some of you may recall them from the beginning of the blog .
For example this particular quote relates to my earliest submission that 'maintaining books' is a farce- or fraudulent ( there is rampant financial engineering all over the world including company balance sheets etc) and that the kind of people who are 'qualified' for the job of maintaining the books are invariably 'crooked' or of low morals.
This post is confirmation from the press/media and that at government level we have same issues. If a company does this , it will be a 'satyam' case!!!
I will continue to plug clippings from media that confirm or contradict my views on certain ( my pet peeves!) issues , including quotes from RK,SAM,VINAY and amitkbaid1008 --- people can take it or leave it .
Suggest read my post only in context so for that you will have to revise from the start |
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rk_a2003
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Joined: 21 Jan 2010
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| Post: #349 Posted: Tue Mar 13, 2012 11:49 am Post subject: |
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Ajay
I said the same points as you posted.I failed to understand why you are addressing me and repeating the same.
Any way leave it! may be my post failed to communicate it. |
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ajayhkaul
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Joined: 18 Jun 2009
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| Post: #350 Posted: Tue Mar 13, 2012 12:04 pm Post subject: |
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| Oops! RK .... .was a bit groggy in the morning ! |
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psalm
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Joined: 12 Nov 2011
Posts: 5368
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| Post: #351 Posted: Tue Mar 13, 2012 12:09 pm Post subject: |
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| ajayhkaul wrote: | | Oops! RK .... .was a bit groggy in the morning ! |
normally, it happens at the evening....but here.... |
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ajayhkaul
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Joined: 18 Jun 2009
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| Post: #352 Posted: Tue Mar 13, 2012 12:49 pm Post subject: |
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| heh heh ..... yeah .... I am usually alert in the evenings ...no minor vices! |
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SP50
Brown Belt
Joined: 26 Nov 2010
Posts: 1615
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| Post: #353 Posted: Tue Mar 13, 2012 1:13 pm Post subject: |
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Ajayji if entire black money comes back to be invested in india after 10% taxes I dont think we people of india dont need to pay tax for atleast a decade.
But congress can do anything and everything to be in power. Wildest possibilities can be moments away on budget day. |
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ajayhkaul
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Joined: 18 Jun 2009
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| Post: #354 Posted: Tue Mar 13, 2012 1:58 pm Post subject: |
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True taxmann50 ..... all this loot if it comes in , we will again be 'sone ki chidiya' (golden bird).
This is also the period of saturn in libra and justice will be done.
They can win elections if the money comes back into the country .Since powerful people are involved we have to see how it is done.
Junta must keep up the pressure and a proper system is required to prevent this looting.
Post elections they can go back on their promises ! that's democracy . |
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vinay28
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Joined: 24 Dec 2010
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| Post: #355 Posted: Tue Mar 13, 2012 2:09 pm Post subject: |
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This is also the period of saturn in libra and justice will be done.
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ajayhkaul
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Joined: 18 Jun 2009
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| Post: #356 Posted: Tue Mar 13, 2012 2:23 pm Post subject: |
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You agree , astroguru Vinay?
Libra is justice and saturn is the dispenser. |
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vinay28
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| Post: #357 Posted: Tue Mar 13, 2012 2:29 pm Post subject: |
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| so budget will be "slam bam, thank you pranab" |
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ajayhkaul
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Joined: 18 Jun 2009
Posts: 866
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| Post: #358 Posted: Tue Mar 13, 2012 3:51 pm Post subject: |
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| vinay28 wrote: | | so budget will be "slam bam, thank you pranab" |
that.... vinay, is supposed to rhyme ! |
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amitkbaid1008
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Joined: 04 Mar 2009
Posts: 540
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| Post: #359 Posted: Tue Mar 13, 2012 9:50 pm Post subject: |
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| ajayhkaul wrote: | amitkbaid1008 and RK......please note that the post is clearly in quote marks .
The excerpts were posted for the following :
There are many issues that I wrote about and some of you may recall them from the beginning of the blog .
For example this particular quote relates to my earliest submission that 'maintaining books' is a farce- or fraudulent ( there is rampant financial engineering all over the world including company balance sheets etc) and that the kind of people who are 'qualified' for the job of maintaining the books are invariably 'crooked' or of low morals.
This post is confirmation from the press/media and that at government level we have same issues. If a company does this , it will be a 'satyam' case!!!
I will continue to plug clippings from media that confirm or contradict my views on certain ( my pet peeves!) issues , including quotes from RK,SAM,VINAY and amitkbaid1008 --- people can take it or leave it .
Suggest read my post only in context so for that you will have to revise from the start |
Got it Ajay |
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amitkbaid1008
Yellow Belt
Joined: 04 Mar 2009
Posts: 540
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| Post: #360 Posted: Tue Mar 13, 2012 9:53 pm Post subject: |
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| ajayhkaul wrote: | | They can win elections if the money comes back into the country .. |
Its not about winning elections. What is the benefit of winning election if they don't earn thousands of crores of rupees.
It's all about money, honey
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