Ready for the B-Day! #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Budget proposals are important, but they aren't as important as they are made out to be by market observers and media persons. #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014This time the FM is constrained by legacy issues and relatively short time of about 8 months and two weeks left in the FY. #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Whatever the FM would do in the #Budget2014, stock market is going to be disappointed w/ him. That doesn't mean you should sell your stocks!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Hope that all types of surcharges on income tax and corporation tax will be removed by the FM to ensure tax simplification. #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Where does the word 'budget' find a mention in the Constitution of India? #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014White and pink roses are smiling beautifully from this third floor balcony. Will India's FM smile on the needy sections? #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Indians don't require any finance lesson from finance ministers. No FM has motivated them to go for real estate& gold in the last one decade
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014In the last decade, Indians with investments in gold and real estate proved to be much smarter than our finance ministers.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014I'm sure #Modi govt is on the right path to infrastructure(physical) development. But development of human capital is a different ball game!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014During PV NarasimhaRao's rule (1991-96), all the economic reforms were done in the first two years. Later, PVNR developed cold feet. 1/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Whatever reforms the FM wants to implement must be executed in the first two years of his tenure before ennui catches up with him. 2/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014One nation. One tax.
One nation. One law.
One nation. One phone.
One nation. Many aspirations.
One nation. Many languages.
#UnityInDiversity
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Ahead of the Indian budget, right from the textiles, gems/jewellery, automobiles to shipping, every industry is lobbying for alms/sops. 1/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014The only people who are not asking/crying for any incentives or alms from the finance minister are the poor and the underprivileged. 2/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014India is a vast country with diverse populations and interests. Some of them are bound to be disappointed by what the new FM brings to them.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014As far as stocks are concerned, Union budget is usually relevant for a few days--maximum three days. Afterwards, it's business as usual!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014But this time it could be different as expectations about the @narendramodi gov't are extremely high! No doubt some reforms will be done!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014To what extent market's/people's expectations will be satisfied by the FM is anybody's guess. But, the long-term trend is intact in my view.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Hope during the FM's budget speech, there won't be any power supply disruptions in #Hyderabad, which is still reeling under them.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Key areas for stock market:
Expenditure reform
Fiscal deficit
FDI in insurance/defence, etc
GST/DTC rollout
Tax reform
Reviving GDP growth
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Key areas for stock market:
Reviving financial savings
Stimulating investments
Treating foreign investors
Allocations to social sector
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Key areas for stock market:
Managing NPAs in PSBs
Reviving market economy
Human/physical infra development
Further rejuvenating exports
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Since the Britsh rule & till 1998, budgets were presented in Parliament at 5 pm (to suit London timings) on the last working day of Feb. 1/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014This practice was changed by fmr FM YashwantSinha in 1999. Since then, budgets are presented in Parliament at 11 am to suit our timings! 2/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Budget is printed in the basement of North Block. Officials preparing & printing budget are locked inside many days before the budget day!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014These officials have to remain in the basement and they can't come out. They've to eat & sleep there only. Maximum security with no phones!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014But fmr FM Yashwant Sinha feels so much secrecy surrounding the budget is unnecessary. He says budget making process should be transparent.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014The word 'budget' isn't there in the Indian Constitution--it talks about an 'annual financial statement' of receipts/expenditures. @vrk100
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Matters relating to budget presentation (estimates of receipts/expenditures) are set out in Articles 112 to 116 of the Indian Constitution.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Article 113: Expenditure charged from the Consolidated Fund of India shall not be submitted to the vote of Parliament--but it may discuss it
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Post-budget, if some economists are giving a score of 95/100...or even 100/100 for the budget, they are only 'economical with the truth.'
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014A decade back, I used to take holidays from work to watch the budget presentation onTV. But my enthusiasm has considerably watered down now!
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Rajya Sabha has limited powers in financial matters. Can hold discussions on the appropriation & finance bills, but it doesn't pass them 1/2
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Rajya Sabha can only return finance bills to the Lok Sabha. RS doesn't have powers to make amendments to finance bills. 2/2 #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Even if the Rajya Sabha fails to return a finance bill, its nod will be presumed after 15 days of the passage of the bill in the Lok Sabha.
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014Former FM Yashwant Sinha's book, "Confessions of a Swadeshi Reformer," has some good insights on budget making and presentation. #Budget2014
— RamaKrishnaVadlamudi (@vrk100) July 10, 2014
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