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“தனி ஒரு மனிதனுக்கு உணவில்லை எனில் இந்த ஜகத்தினை அழித்திடுவோம்” at 57' the speaker talks about a poem by Mahakavi Subramanya Barathi.."even if one person goes hungry the whole world will vanish !!"
Agree. All top decisionmakers for MEA under congress were worthless Most r armchair experts. Don't understand instincts of people on ground and how animosity and human nature works.
Most of the talk was very good and interesting but the trade stuff was tired cliches. I am sorry but to make a case for RCEP at a time when Indonesia , Malaysia and Vietnam are talking of imposing tariffs on Chinese goods is just silly. The US and EU are raising tariffs !! Yes ofcourse we need trade but we are not in the 60s, our tariffs are nowhere near those high levels. This silly political point scoring about "Atmanirbhar Bharat" by just harking back to socialist era "import substitution" needs to stop. The policy of raising/lowering tariffs selectively has worked in mobiles and is now working on telecom, laptops, ACs etc. We need to grapple with the complexities as they exist right now. I do think we should look at joining CPTPP some day but all the social justice/democracy wallahs won't like what it will mean for our pharma and agri based industries. All the "informal" sector manufacturing that is so loved by JNU wallahs will also have to go if you wish to sign on to copyright, IP protections of CPTPP standards. Trade deals are very difficult for large countries, as US is also now finding out, and especially so when you are very poor and uncompetitive like India. PS : Sorry for the rant, but i so deeply respect Mr.Menon as a deep thinker who grapples with complexity .I was really very disappointed with his simplistic take on trade that frankly sounded like we are in 2006 and he is some new world bank representative recruited just out of college. I would highly recommend all Indians interested in economic policy read the writings of Michael Pettis on China/global trade and a recent book by Nikhil gupta on problem of growth for the indian economy.
he wants to talk only after the 100 mn people brought out from 2001 to 2011 during upa ; but is very sceptic about the current establishment which has survived three tenure ; probably left out syndrome of educated unskilled left intellectual
Ambassador Menon gave thought provoking ideas for Indian government to work on.India can't avoid being part of groupings like ASEAN,RCEP etc.BJP should look into it and try not to be in a Silo
China, Malaysia or Brazil are not our 'peer' economies. Their per capita incomes are 3-4 times higher and their rates of urbanization are almost double or more. Instead of trying to just blindly follow something WHO says or what richer countries have done in terms of "universal" health care , we need a more first principles approach to look at our challenges. The first question we should try to answer is how are health care costs distributed. If a very small percentage of households at some socio economic level suffering from specific ailments bear a disproportionate part of the overall healthcare expenditure ,say like the cardiac surgery issue of Andhra was brought up or something chronic like tuberculosis, then it might actually be the right approach to focus on those specific ailments and reduce those costs through tertiary or primary care investments . Clear data on what ailments actually burden the population and where interventions with more bang for the buck are possible would be more useful than pie-in-the-sky goals of 'universal' health care or some silly 5% health spending. Our neighbors are China and Pakistan not Switzerland and US where we can eliminate defense expenditure. Our infrastructure needs are going to be pretty high for the next two decades if we have to compete in global export markets so yeah health will never be a big enough priority to justify 5% spending and it should not be. Sorry for being blunt. PS : Srilanka is to some extent a peer economy and it shows the perils of public spending going beyond your means on health and education. You will get kudos from WHO and possibly even world bank will praise you but then one day your economy will go kaput and people will blame some silly organic farming and not persistent government over-spending which was the real cause and common people will suffer .
Over taxed??? But who pays taxes in India...only salaried class, businesses get every options etc etc to avoid and evade taxes. Don't ask for states and local municipalities which are even worse and lazy.
The first question from the audience highlights what is wrong with the Indian bureaucratic system.. The question assumes that the job of a civil servant is to tax the people through the nose.. He assumes that the system is doing fine since we are over-taxing the people. He does not understand that the goal of taxing is to generate revenue to pay for the services that the country gives its citizens & not to exploit the productive parts of the society. This buffoon, marinating in perks paid for from the tax payer's pockets of course does not feel the pinch. I wonder if this is hangover from a colonial mindset where the so-called practitioner, generalist, civil 'servant' was rewarded for exploiting the citizens.
Persons have SUVs with party flags.. how much tax they pay? Any data... ? Salaried class have 30% which is more than corporates taxation . That is shit
This was nonsense presentation. In India, tax evation is like ganga river and govt is only trying to scoop some tax collection from same obedient class. Govt did not take any serious effect in black money generation because the so called governing mechanism of minisrtry+officials are corruput. Legal courts sleep for decades. e.g 2g scam, looting of minerals in TN, Jarkhan. Then why all these discussions ... eye-wash to substantiate govt policies.
My god, when I listened to Mr Arvind I realised, how little first principles thinking our babus like Mr Arvind apply. All arguments are IMF has told us some random potential and we are significantly below that. This is so theoretical. Complete dereliction of all thinking skills - laughable. I hope better sense prevails and better thinking people prevail. Mr Aravind is very knowledgeable but has left thinking behind decades back.
Why exactly does this expert thinks that raise in corporate taxes are good for the economy. Corporate tax will only diminish the expansion, curtail the scale & increase the informal economy.
Lets not raise tax futher please. Instead increase the investment to GDP ratio, which china has 47% With time as fomralisation of Jobs happen tax base will broaden automatically
Farmers that earn a Crore generally live in a joint family where upto a 40-50 family members share 100 acres. That actually comes to a 2-3 acre per person. They look richer than they would be if they weren’t living in a joint family. I have such a family.
Surjit is too smart for those dumb baboos in the audience and one on the panel! India is heavily taxed and the only way govt can earn more revenue is by lowering the tax. Its called the laffer curve and it was named after the guy who made Ronal Regan's economy the fastest growing at that time.
Expansion of personal income tax is an absolute must. Of the 8 odd crore that file return less than 2.5 crore actually pay tax ( CBDT data). There is no analysis of these tax payers - what percentage are salaried, how many govt employees, how many shop and commercial establishment owners, how many industrialists etc - regionwise , state wise . Its a sad state of affairs - and Surjit Bhalla's defence is vacuous.
It's scary that our Baby's think Taxing is their birth right. They don't realize that every tax is a penalty on some one doing some thing productive & that taxing too much will bring down the productivity, innovation & risk taking abilities of the society.
They keep saying states have given up fiscal sovereignty but so has the center. The idea behind gst is that both will give up sovereignty to improve efficiency, coordination and share the benefits of turning the country in to a real single market. Unlike Arvind i think the GST council can and will get to three rates structure eventually, it may take 5 years or more but it will happen.
