Market rally due to Centre's stability, not due to some 'fond hope': Chidambaram
Wow Amazing Chidambaram????
Sivaganga, Tamil Nadu: With the rupee at an eight-month-high and Sensex at an all-time high, Finance Minister P Chidambaram slams theories that attribute this to the hope rally due to the euphoria that BJP's Prime Ministerial candidate Narendra Modi could lead the next government.
Speaking to NDTV on his campaign trail seeking votes for his son Karti Chidambaram, the Finance Minister said, "The rally is due to the fact of a stable government. In the last 18 months we have taken a number of measures to strengthen the economy, we have contained the fiscal deficit, we have contracted the current account deficits substantially, we have added to our reserves, we have tamed inflation. This is the reason why the market is responding, not because of some kind of fond hope. I only wish that the firm hand on a wheel can continue for some time."
Mr Chidambaram refuted the business and industry's perception that subsidy has become the hallmark of the UPA and that Mr Modi is seen to be growth oriented.
"Even Modi won't make such an extravagant claim... It's obvious that big business and I am using the word big with capital B. Big business is supporting the BJP but that's because Mr Modi is known to favour crony capitalism. The hallmark of UPA government is growth. We delivered 8.5 per cent growth in the first five years and we have delivered 7.2 per cent growth in the next four years. The NDA record does not even match 7.2 per cent."
When asked whether there is a mistake which he as Finance Minister thinks the UPA should have never committed, Mr Chidambaram said, "In 2009 the whole world was sold on the theory of monetary expansion, what they call unconventional monetary policy; every country spent more in the hope that spending will anchor growth, India did the same thing. In hindsight what we did in 2009 was right but perhaps, perhaps, we should have pulled back beginning 2011, the pullback started only after I returned to the Finance Ministry in August 2012 and we have shown result, if we had pulled back a year earlier these results would have been visible even last year."
The Finance Minister had a different take on whether retrospective tax was a mistake. "Well I have explained it is not a retrospective tax, it is a clarificatory amendment that has retro-active operations. I think there is a vast difference in law between retrospective tax and clarificatory amendment which has a retro-active application, in fact because the perception is that it is a retrospective tax, we have offered conciliation - it is Vodafone which is turning down the request for conciliation."
Mr Chidambaram also slammed AIADMK chief and Tamil Madu Chief Minister J Jayalalithaa for her contention that he did nothing for the state or for his constituency.
"It's a pity that a Chief Minister does not know what's happening in her state" he said. "I wonder what her intelligence department is doing, what her district administration is doing. We have published what we have done in this constituency and in a couple of days when I address a public meeting, a series of public meetings, I will respond to her charge that the Central government has done nothing in Tamil Nadu. If she believes what she says, it means that the Chief Minister is completely cut off from reality, that she is ignorant of central government projects. She is ignorant of the central government records in Tamil Nadu. I wish she will travel by road, she will travel by rail, then she can see what's happening on the ground. If she is in the air all the time she doesn't know what's happening on the ground," he added. more
Sivaganga, Tamil Nadu: With the rupee at an eight-month-high and Sensex at an all-time high, Finance Minister P Chidambaram slams theories that attribute this to the hope rally due to the euphoria that BJP's Prime Ministerial candidate Narendra Modi could lead the next government.
Speaking to NDTV on his campaign trail seeking votes for his son Karti Chidambaram, the Finance Minister said, "The rally is due to the fact of a stable government. In the last 18 months we have taken a number of measures to strengthen the economy, we have contained the fiscal deficit, we have contracted the current account deficits substantially, we have added to our reserves, we have tamed inflation. This is the reason why the market is responding, not because of some kind of fond hope. I only wish that the firm hand on a wheel can continue for some time."
Mr Chidambaram refuted the business and industry's perception that subsidy has become the hallmark of the UPA and that Mr Modi is seen to be growth oriented.
"Even Modi won't make such an extravagant claim... It's obvious that big business and I am using the word big with capital B. Big business is supporting the BJP but that's because Mr Modi is known to favour crony capitalism. The hallmark of UPA government is growth. We delivered 8.5 per cent growth in the first five years and we have delivered 7.2 per cent growth in the next four years. The NDA record does not even match 7.2 per cent."
When asked whether there is a mistake which he as Finance Minister thinks the UPA should have never committed, Mr Chidambaram said, "In 2009 the whole world was sold on the theory of monetary expansion, what they call unconventional monetary policy; every country spent more in the hope that spending will anchor growth, India did the same thing. In hindsight what we did in 2009 was right but perhaps, perhaps, we should have pulled back beginning 2011, the pullback started only after I returned to the Finance Ministry in August 2012 and we have shown result, if we had pulled back a year earlier these results would have been visible even last year."
The Finance Minister had a different take on whether retrospective tax was a mistake. "Well I have explained it is not a retrospective tax, it is a clarificatory amendment that has retro-active operations. I think there is a vast difference in law between retrospective tax and clarificatory amendment which has a retro-active application, in fact because the perception is that it is a retrospective tax, we have offered conciliation - it is Vodafone which is turning down the request for conciliation."
Mr Chidambaram also slammed AIADMK chief and Tamil Madu Chief Minister J Jayalalithaa for her contention that he did nothing for the state or for his constituency.
"It's a pity that a Chief Minister does not know what's happening in her state" he said. "I wonder what her intelligence department is doing, what her district administration is doing. We have published what we have done in this constituency and in a couple of days when I address a public meeting, a series of public meetings, I will respond to her charge that the Central government has done nothing in Tamil Nadu. If she believes what she says, it means that the Chief Minister is completely cut off from reality, that she is ignorant of central government projects. She is ignorant of the central government records in Tamil Nadu. I wish she will travel by road, she will travel by rail, then she can see what's happening on the ground. If she is in the air all the time she doesn't know what's happening on the ground," he added. more
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We all are paying huge taxes, direct or indirect taxes as mentioned below and what we get in return from our so called Rajnetas. Have you ever thought that, on every daily consumable items how much indirect tax you are paying. (Toothpaste, brush, clothes, shoes, etc. ) - Excise tax, sale tax, VAT, service tax, education cess, etc Kirana items- pulses , Grains and masalas - sale tax, CST, VAT, Mandi samiti taxes, etc Property ( House) â Service Tax, Registration tax Stamp Duty, maintenance tax â House tax, property tax, water tax, sewer tax. When you go to sell you pay income tax also, tax on rent income Fix Diposit â Tax on interest Vehicle â Excise tax, Sale tax,(included in cost) Registration tax, Road tax, insurance including service tax Fuel for vehicle â Petrol, Diesel, Gas etc. ( Excise, central govt. tax, state govt. tax, service tax, etc.) Hotels / restaurant â luxury tax, Service tax, vat, sale tax etc. Travel â Fuel surcharge, Tolltax, MCD tax, and other taxes. Share Market - STT, Income tax, Transaction tax, service tax, etc (See the fun you are paying road tax and on each and every highway paying toll tax, why? you are paying water bill and Purchase drinking water separate, You are paying electric bill and hardly gets 8 hour supply, If there is something wrong you fear to go to POLICE, you are paying various tax to municipality and suffering encroachment by vendors and parking, When you will take ownership? Man itâs you who is paying for enjoyment of politicians & govt. officials) After paying above mentioned taxes, you still give Bribe to govt. officials. Why? Why opposition was silent? In this election, we need our politician to be real public servant as we all (Public) are paying a handsome salary including all facilities to his entire family. Also paying Lifetime Pension for only 5 years of service. Karenge , Krenge, to sub kahte hai But now we want to listen/ read, PROCEDURE , HOW Political Parties WILL IMPLEMENT ? AND WHAT WILL BE ACTION PLAN? Government jeene degi to sochunga â main hindu hoon ya musalmaan. more
Apr 03
Mrs Jayalalitha has travelled road and rail I think Mr.Chidambaram does not realize as per this note that she has grown from the grass root level more
Mar 30
Top Issues are; 1 Nature is connected with the chemicals created in our bodies and hence minds, not the words or languages that human have devised for purpose, and again it is these chemicals through words spoken irrespective of lingos. 2 Education of Masses, not just a few as it has been in the past for thousands of ions⦠3 Good clean healthy food and water for all not for just a few. 4 World Currency (money), which does not depend on whims of any sort, of just one major countryâs decisions, however, on all countries put together ⦠Vote for Kejriwal, You know why, no one, I MEAN to say no one can stand for one day in front of or against DHAKKE SHAHI only may be for few moments as in case of gun (cruel words like servants and U r nothing etc.) to your face, if someone have taken stand against dhakke shahi (DS) in other words might is right, then it is a moment of celebration. In 49 days he did not only stand against DS but gained popularity not in India but in the world! If you want a positive change, mark my words positive change!, which has different way of thinking and good for All, for All and for All, then choose Kejriwal, otherwise do whatever you want to do with your vote worth less than toilet paper from a world view point of view, no one in the world will care about people who most of the time behave like sheep or Idiots..... guys...! That's it... When? I mean to say, when will your hearing and vision will start functioning, ask when? Do you want to wait 5000 more yrs i.e, five thousand years of passiveness,un- progressiveness (stand stillness) . Do you want this kind of solutions to world class problems? (a) For example; (1) Human beings are / were supposed to live 100 years and these hundred years were divided like this (a) 25 years of education (b) 25 years of raising children, family life (3) taking care of responsibilities (4) this is the troubling part SANYAAS, you mean that only men will go to the jungles leave behind uneducated and younger than men usually,women and children for RAVANAS! What a foolish shit philosophy was that, and all idiots believed it for ages⦠(b) âAnd kaam karte jaao phall kee chinta matt karâ. This works only when all are like Krishan Bhagwan ji. If majority of people are like RAAVNA then volunteerism does not, it does not work, do u get itâ¦..sooner the better if you think⦠(c) JO SUBH KUCHH DETTA HAI (i.e. your own country) , VOH SUBH KUCHH LETTA BHEE HAI or JAANTA BHEE HAI KAISEY, KAISEY and KAISEY ! Yeh Kabhie bhi matt bhoolnaâ¦please please⦠Slogan: Vote for Kejriwal, and expect progress for all, all, all and all... No Pains and no gains: This change will cause lots of pains for old prominent and corrupt and lots of gains for all so choose Kejriwal..... (d)----Equals resolve their differences via dialogues always, Unequals fight, fight, fight and fight always, And what would both equals and unequals do always! For resolve forever with absolute and always!.................by Chaman Bhardwaj (e) Because of whose errors in judgments India was ruled for thousands and thousands of years, do u get it or not?, If not then, read this post all over again and also your history books (also "his-story" that means those who made or created not repeated history)! let me tell you if your foggy thoughts have any doubts or viciousness or maliciousness cannot comprehend, it was due to mistakes made by so called high caste officers and not low class servants? You have to answer this question at this election time. It is very important. The answer is obvious! Looser will cry for ever and also fight forever, winners do not, they fix everything once forever, and forever! more
Mar 30
CHIDAMBARAM REFUSED TO FIGHT ON CONGRESS TICKET AND BJP CAN NOT TAKE HIM. HE IS ON THE ROAD AND SHOULD NOT BE TAKEN SERIOUSLY more
Mar 30
