Saturday, 12 July 2014

Salient aspects of the Union Budget FY 2014-15

Salient aspects of the Union Budget FY 2014-15, as applicable generally to us as individuals, are given below for your quick reading please:-
  1. Income tax exemption limit raised from Rs 2 lakhs at present to Rs 2.5 lakhs Income Tax rates: Budget ‘14-15
Income upto Rs 2.5 lakhNil
Rs 2.5 lakh to Rs 5 lakh10% of income above Rs 2.5 lakh
Rs 5 lakh to Rs 10 lakh20% of income above Rs 5 lakh
Income over Rs 10 lakh30% of income above Rs 10 lakhs
 
 
  1. For Senior Citizens, Income tax exemption limit raised from Rs 2.5 lakhs to Rs 3.0 lakhs
  2. Section 80C investment limit raised from Rs 1 lakh to Rs 1.5 lakh for tax benefits
  3. Tax exemption on interest component on housing loan raised from Rs 1.5 lakhs  to Rs 2 lakhs (for self-occupied house. For rented, the earlier rules continue)
  4. Annual Public Provident Fund (PPF) ceiling to be enhanced from Rs 1 lakh to Rs 1.5 lakhs
  5. Special National Savings Certificates and savings instruments for parents to invest in name of girl child also announced.
  6. Kisan Vikas Patra to be reintroduced for planned and unplanned savings under small savings schemes
  7. Proposal to Introduce single demat account for all types of financial transactions
  8. Proposal to Introduce Standardized KYC Norms and single KYC across entire financial sector
  9. EPFO to launch unified account scheme to ensure Provident Fund portability
  10. Cheaper Housing Loan & Tax Incentive for LIG - Low Income Groups. Allocated Rs. 4000 crores for the same.
  11. Insurance sector FDI to be hiked to 49%, from 26% leading to increase in Insurance penetration.
  12. Long Term Capital Gain tax on Debt Mutual Funds increased from 10 % to 20% and tenure increased from 12 to 36 months
14. No change in rate of surcharge; Education cess to continue at 3 per cent; No change in tax laws for Hindu Undivided Families

15.Other important budget announcements:
  1. Basic customs duty on colour picture tubes scrapped; taxes on cigarettes (11-72 percent), cigars, unmanufactured tobacco and gutka to go up.
  2. Radio taxies also to be levied service tax.
  3. Excise duty on footwear reduced from 12 per cent to 6 per cent.
  4. e-Visas will be allowed in 9 airports; new airports will be developed through PPP mode
  5. Proposed setting aside Rs 500 Cr For 5 Tourist Circuits
  6. To introduce bullet trains on Ahmedabad-Mumbai route (Railway Budget)
  7. Rs 1000 Cr for rail connectivity for North-East  
  8. One rank, one pension: Rs 1,000 crore allocated for implementing One Rank One Pension scheme
  9. To introduce uniform KYC norms
  10. Defence: Defence allocated Rs 229,000 crore; modernisation gets Rs.5,000 crore over and above interim budget
  11. NRI fund for conservation of river Ganga to be set up. FM announces "Namami Ganga", an integrated Ganga Development Project; Rs. 2,037 cr set aside for this.
  12. War memorial: A war memorial to be set up along with a war museum at the Princess Park; a sum of Rs 100 crores will be allocated for this purpose
  13. A special sum of Rs 2000 crore to be allocated in Jammu and Kashmir to build state of the art sports facilities
  14. Sum of Rs 100 crore to train women and men in the forthcoming Asian games
  15. To set up Trade Facilitation Centres for Varanasi
  16. Rs 50 crore set aside for Pashmina Production program in J&K.
  17. FDI in real estate for low cost housing.
  18. 5 New IITs and IIMs in India.
  19. Senior citizen pension scheme to be revived.
  20. To launch broadband connectivity at village level ahead
  21. e-governance: All govt departments and ministries to be integrated through E-platform by 31 Dec this year
  22. Internet connectivity: Will launch broadband connectivity at village level.
Copyright © 2014 Hum Fauji Initiatives, All rights reserved. 

Hero's Age no bar in Bollywood !


Expired Drugs in AIIMS !


Time Wasters at Work....


Tuesday, 8 July 2014

Delhi's Fast Depleting Ground Water !!


Shocking state of our Capital.....sigh !

Sunday, 6 July 2014

India's Own BBC or CNN ?


Colonial mindset

Saeed Naqvi, June 10, 2014, DHNS:
Outside Saarc, Chinese premier Li Keqiang was the first world leader to call prime minister Narendra Modi. This was followed up by Beijing sending its foreign minister, Wang Yi to New Delhi on Sunday. 

South Block grasped the signals. But when I opened the newspapers, I could have sworn that a chill was about to descend between the two countries.

There were no analyses of a new promise in Sino-Indian relations, possible investment in Indian infrastructure (the Chinese have $3.5 trillion parked precariously in US banks and treasury bonds) and an interesting China, Japan, US triangle that is emerging. Instead, all newspapers carried extensive coverage of the 25th anniversary of the Tiananmen Square.
All the pieces were passionate indictments of human rights in China, ironically on a day when the Badaun rape tragedy was shaming us in the United Nations.

Narendra Modi has been to China on four occasions as chief minister of Gujarat, twice as State guest, feted at the Great Hall of the People. 

What, then, was the source of this new found zeal for human rights in China? 

Even prime time TV had set aside a slot to focus on grim looking Chinese, marching with candles. 

You would have thought the channels had flown out special teams to Tiananmen Square to cover the event. But this is not the way the World Information Order functions. 

In fact nothing was happening in Beijing. Channels like CNN, combining with the social media, had whipped up frenzy in Hong Kong which a battery of cameras captured. 

The footage created the illusion of a nation commemorating Tiananmen Square.

It was this footage which was made available to channels across the globe hooked habitually to a grid controlled in New York and London. 

The media’s critical faculty has been so numbed over a century of colonial experience that it cannot, on occasion, separate news from propaganda.

The hot-and-cold relationship the US has with China results in wild fluctuations of mood between the two countries. 

China’s trade surplus of $200 billion annually represent one facet of the relationship. And yet the Chinese are viciously needled by Americans too. 

Reacting to one such provocation, a Chinese leader became unusually lucid. He described America as a ‘first class rascal.’

Consider this against another evolving story. Briefing the media in St. Petersburg, President Vladimir Putin expanded on the ‘extraordinarily’ new substance in Sino-Russian equation of which $400 billion gas contract is an important part.
Putin also spoke at length on Russian-India relations, on India’s helpful stand on Ukraine, and the telephonic conversation he had with prime minister Narendra Modi.

This is a sensitive phase for a major realignment of global forces. Indian stakes are high with the west as well as with China and Russia with both of which US lobbies are developing adversarial relations.

Hillary Clinton has already given notice (more or less) that she intends to raise the pitch on Ukraine should she be in sight of the Democratic nomination for the 2016 elections.

World’s view

In the world’s eyes, India today is a vibrant, exciting destination.

Public opinion in the country is supportive of the lines that are opening up with all important capitals. 

But an aggravation of west’s confrontation with, say, Russia (even China) will affect Indian public opinion too. Why? Because the west’s demonisation of Russian and possibly Chinese leaders will also expose Indian public opinion to these diatribes because we are still locked into the colonial information grid.

The point I am making is this: not having our own means of covering world affairs, our media ends up using stuff which is part of someone else’s agenda. 

It is sometimes inimical to our interests.

Public opinion in India gets manipulated whenever the US throws a tantrum with, say Bashar al Assad.

On Egyptian or Syrian elections we have only western versions. 

We do not have a single news bureau in Saarc countries, China, Japan, anywhere. For the world’s largest democracy, this is something of a shame.

If we had a news bureau in Kabul, we would have been much better informed about the attack on the Indian consulate in Herat or the circumstances in which Alexis Prem Kumar was kidnapped. Must we depend on western journalists to inform us about Kabul, Jaffna or Kathmandu?

Must the world’s largest democracy be a passive recipient of images beamed from news centres controlled by CNN, BBC, Reuters and Associated Press? 
This is a disgraceful state of affairs.  We must proceed along with these networks but only as part of a concert of democracies.

What is required is a Public Service Media not tied to existing systems like Doordarshan or Rajya Sabha and Lok Sabha TV.
It is much easier to start something new rather than reform existing systems which have developed deep seated habits. New Delhi gives away billions in assistance to Saarc neighbours.

It must take a leap of faith and concurrently invest a billion dollars in its own media which must also cover world affairs as comprehensively as CNN, BBC and Al Jazeera. 

The returns in power, prestige, influence and business will be astronomical.

Create a Board of Trustees with someone with national prestige and credibility as chairman. 

The Board will insulate your editorial team from the market as well as the government. If information is power, it follows that a control on sources of information is essential to wield that power.
It is also not possible to conduct an independent foreign policy if the sources of information are controlled by London or Atlanta, Georgia.

Those stations will continue to cast a shadow on our public opinion unless we have a global media of our own.

Get your creative ideas crowd-funded !

A site much like Kickstarter....KissKissBankBank.com provides you another fantastic platform to share your idea and get it funded....