Tuesday, December 31, 2024
GST at 18% and tax of Rs 44.6 million.
In 2024, Jamnagar's tiny airport "hosted about 600 flights during the pre-wedding celebration of Mukesh Ambani's son." "Upon the Union Defence Secretary's request, the Chief of Air Staff authorised round-the-clock operations at the Jamnagar air base." BS. Microsoft co-founder Bill Gates had tea at Dolly Chaiwalla, 10-year old Sushila Meena from Rajasthan reminded Sachin Tendulkar of Zahir Khan's bowling action (BBC), 18-year old Gukesh Dommaraju defeated China's Ding Liren to become the youngest-ever world chess champion and the GST Council recommended 18% GST on caramel popcorn. "Security analyst Sushant Saran said that India will always be a third world country if we have a 'brainless bureaucracy' and 'clueless politicians' who penalise anything that remotely resembles upgrading products." BT. "The Reserve Bank of India (RBI) has sharply slashed its growth projection to 6.6% for the current fiscal from 7.2% earlier." "The Indian Economy is in big trouble and the government is in denial, Bloomberg columnist Andy Mukherjee has written." The government blames the RBI for not slashing interest rates despite high inflation. ET. The RBI's December 2024 Financial Stability Report (FSR) said that "The global financial system shows resilience, but medium-term risks persist," but "The Indian economy and domestic financial system remain strong, supported by strong economic fundamentals and healthy balance sheets ." ET. As Gukesh Dommaraju and Dolly Chaiwalla have shown, India's fundamentals are strong if they do not suck the lifeblood out of us with their insatiable greed for ever higher taxes. "The RBI has cautioned that the outlook for unsecured credit, particularly credit cards and personal loans, could face significant pressure due to rising delinquencies." "A default on unsecured loans, such as credit cards or personal loans, could trigger delinquencies in other loans, including housing and vehicle loans, due to the interconnected nature of borrower liabilities." ET. Indian banks have written off Rs 16.11 trillion during Prime Minister Narendra Modi's first 10 years, wrote Jawhar Sircar. The last United Progressive Alliance (UPA) 2 wiped off less than Rs 2 trillion and, because of that, "the UPA 2 government was declared 'intolerably corrupt' by an orchestrated campaign, but now it is really time to wake up. Never before have frauds, cronies and oligarchs played havoc with our money while the lying lama smiled." "Indians make up the largest group of H1B holders, with over 70% of the visas granted to them in recent years. For many, it represents not just a job but a pathway to permanent residency and the realization of the 'American Dream'." ET. The billionaires can enjoy caramel popcorn from the Rs 16.11 trillion they plundered, but Gukesh will have to pay at least Rs 44.6 million in taxes out of his prize money for making the country proud (BT) with absolutely no help from the government. The rest dream of the American paradise.
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