Thursday, December 31, 2009

Gopal Pai M wants to stay in touch on LinkedIn

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Friday, December 18, 2009

Visit my Netlog profile

   
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    Hi!

I created a Netlog profile with my pictures, videos, blog and events and I'd like to add you as a friend to show this to you. You first need to register on Netlog!
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Thursday, December 10, 2009

Take a look at my photos on Facebook

facebook
K.Vittal Shetty
K.Vittal Shetty has:
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34 groups

Take a look at my photos on Facebook


Hi Budget2009Reactions,

I set up a Facebook Profile where I can post my pictures, videos and events and I want to add you as a friend so you can see it. First, you need to join Facebook! Once you join, you can also create your own profile.

Thanks,
K.Vittal

To join Facebook, please follow the link below:
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Sunday, October 25, 2009

High prices of essential commodities-letter

High prices of essential commodities

Sir,

The sky-rocketing price of essential supplies and vegetables has crippled the common people of Kerala at present. Even a single cup of costs Rs 5 at a way-side tea vendor which was Rs 3 two months back. The tea shop owner could not be blamed as he is not able to sell below this price as the cost of milk, sugar and tea has soared up. The rice and even tapioca cost high. The disorder in the current market created by traders and hoarders are a sufficient reason for this high price. The failure of the government to arrest the price rise of essential commodities is very much visible. Certainly prices have an uptrend all over India, but the local government finds it time to abuse the Central Government instead of taking action to control the high level price. There is not even a single instance of police raid at hoarders' premises to locate the illegal storage of food items aimed at increasing price of commodities. Locally produced vegetables in Kerala too costs high because of flood or draught elsewhere in the country.

To arrest the price hike of essential commodities and vegetables steps such as vigilance raid may be conducted at selected destinations. . A refusal of highly priced commodities can be also practiced by common people for the time being. When sardine fish costs only Rs 30 per kg why people run for code fish that costs Rs 300 per kg? The unauthorized tax collection on commodities by some corrupt persons should be regularly cracked down by the government with iron hand. The Food and Civil Supplies department should keep a watch on the price of essential commodities and verify the traders' justification of price hike. The so called 'corruption free' paraphernalia introduced by the Finance Minister of Kerala at border sales tax check posts should be overviewed by the Chief Minister and an amicable way out for the present imbroglio at check posts should be sorted out. As corruption and inefficiency of the bureaucracy are the main reasons for all mishaps in the State, with strict implementation of rules corruption can be checked and price rise could be effectively controlled.

Chief Minister VS, though not an economist, is able to understand the misery of the common people. Nevertheless, his econometrical and realty- business friendly colleagues do not allow him to perform. One hopes his next step is to cut short the failure of his government and to contain the price rise and the bureaucracy as well.

K A Solaman


K A Solaman, S L Puram

(Kaithakkal, S L Puram PO
Alappuzha-688523
Kerala)
Ph 04782863483
Mb 9142020185

Friday, October 16, 2009

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Thursday, October 8, 2009

K VITTAL SHETTY sends a champagne

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Monday, September 21, 2009

spirituality.com - from a friend

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Tuesday, August 18, 2009

New message

Good News
Now you can get IMEXSU products for Europe from

IMEXSU Europe GmbH


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Mobile +919869457899

Visit
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Sunday, August 2, 2009

khou.com article from Kadi Ouedraogo Donation

Kadi Ouedraogo Donation [kadioued2009@voila.fr] has sent you an article from khou.com.

Story: Armed snack vendor shoots, kills young robbery suspect at Shell station

Dear friend, Greeting in the name of our lord Jesus Christ. I am Mrs.Kadi Ouedraogo, a widow to late Adama Ouedraogo. I am 52years old, a new Christian convert, suffering from long time pancreatic cancer. From all indication, my condition is really deteriorating and it is quite obvious that I won't live more than six months according to my doctors. This is because the cancer has gotten to a very bad stage. My late husband was killed during the Cote'd Ivoire civil war, and during the period of our marriage we couldn't produce any child. My late husband was very wealthy and after his death, I inherited all his business and wealth. The doctors has advised me that I may not live more than six months so I now decided to divide the part this wealth, to contribute to the development of the less privileged ones around the globe. I selected you after visiting the Internet and I prayed over it.I am willing to donate the sum of 5,000,000US dollars, to help, widow and they less privileged ones in the rural areas. Please I want to note that this fund is lying in a state owned bank. I honestly pray that this money, when transferred will be used for the said purpose because I have come to find out that wealth acquisition without Christ is vanity. May the grace of our lord Jesus the love of God and the fellowship of the holy sprite be with you and your family.I await your urgent reply. Mrs.Kadi Ouedraogo.


Armed snack vendor shoots, kills young robbery suspect at Shell station

03:25 PM CDT on Saturday, August 1, 2009

By Rosa Flores / 11 News

HOUSTON -- A young robbery suspect was dead and two others in custody after a run-in with an armed snack vendor.

It happened at a Shell gas station on MLK at Reed late Thursday night.

According to police, the snack vendor was restocking the store when he was approached by three young suspects.

The vendor told police the suspects walked up and demanded that he hand over some of his products.

"When he advised that it was not their policy to provide product outside of the actual store, they became irate and demanded that he basically give them something, at which time one individual began to assault (the vendor), striking him in his nose," HPD Homicide's Brian Evans said.

Evans said a second suspect then started punching the vendor, so the vendor grabbed his gun and opened fire.

"The individual is a concealed handgun license carrier and was armed at the time. He retrieved a weapon and subsequently shot and killed an individual here on the scene," Evans said.

Police said the other two suspects fled the scene on foot, but they were quickly apprehended.

Evans said the dead suspect appeared to be in his late teens or early 20s, and the other two suspects are younger, possibly juveniles.

The case is being turned over to the Harris County District Attorney's Office.

 

 

 

Sunday, July 19, 2009

R VASUDEVAN (044- 42148569)

Item (1) PSU Banks

 

Please refer my Email dt.8th July 2009.

 

The following facts confirm the validity  of my suggestion.

 

a)                 Last year ALL INDIA BANK ENPLOYEES and OFFICERS threatened to disclose list of Big Bank loan defaulters.

 

Eventually these Associations dropped this threat for reasons best known to them.

 

According to an official report the PSU BANKS made huge profits. But the total NPAS have gone up by 11 thousand crors.

 

Total MPA may be about a few lackh crores.

 

b)                Higher rate of tax on high income groups.

 

No less a person than Mr. Narayanamoorthy, chief Mentor INFOSYS has also suggested this on the eve of the budget.

 

c)                 Excise duty concession on luxury cars – Roll  Back

 

It is necessary to raise excise duty on costly cars and bikes, sold and use on the Roads in  India.

 

This has been emphasized by the Mr. CHHAVI DHING, Associate fellow on transport and URBON Development – The energy and Resources Institute New Delhi. (Courtesy  Times of India Dt 15th 2009)

 

The percentage of use of public transport is less than New Delhi & Mumbai.

 

 

Personal Profile:

Name                                       :         R. VASUDEVAN

Age                                          :         75 yrs

Educational Qualification           :         MA (Economics), B.L.

                                                         

Regular reader B.L. particularly SUNDAY issue

Very much interested in helping poor.


Thursday, July 16, 2009

K VITTAL SHETTY sends a champagne

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Dear Editor,

 

I am attaching my ‘Reactions on Specific Budget Proposals', alongwith my brief profile and a photograph.

 
Best Regards,

D.R.Dogra
Dy. Managing Director
Credit Analysis & Research Ltd.
4th Floor, Godrej Coliseum, Somaiya Hospital Road
Off Eastern Express Highway
Sion (East)
Mumbai 400 022
India.
 

Tel No.+91-22-67543434 / 35
Mobile : +91-98204 16002         
Fax No.+91-22-67543457
 
Disclaimer:
This information is intended solely for the addressee. The said information is confidential and may be privileged and is also prohibited from disclosure. Any disclosure or further distribution of the email or other use is strictly prohibited. If you are not the intended recipient of this email, please delete the same and inform the sender immediately. Any views expressed in the said information are those of the individual sender. Nothing contained in the said information is capable or intended to create any legally binding obligations on the sender or CARE who accept no responsibility, whatsoever, for loss or damage from the use of the said information. The recipient is advised to scan the mail and any attachments for viruses before opening. The content of the message cannot be guaranteed to be secure or errorfree.

Wednesday, July 15, 2009

Opinion for Budget Line

Dear Sir,

               My Sanjay Razdan, managing director of Capita India has written a paragraph for budget Line. I am attaching his photograph along with this mail and

 I would really appreciate if you can feature the same in your budget line.

 

“The budget has been positive for the IT-ITES sector as most of the expectations of the Industry have been met. The biggest expectation was the extension of the Income Tax holiday which has been met. Though personally I would have liked it be for at least 3 years. The elimination of the anomaly in the formula for SEZ units and removal of FBT were other long standing demands of the Industry which have been met. The other welcome measure for the sector is the introduction of the ‘Safe-Harbour’ rules and alternative dispute resolution mechanism for transfer pricing adjustments. Hopefully, this will provide a greater deal of certainty in the Transfer Pricing assessments. Though the Minimum Alternate Tax has been increased from 10% to 15% resulting in a higher payout for the IT-ITES units, but the same will now be available for set-off for a longer term of 10 years. Overall it is an inclusive and balanced budget with greater focus on increased public spending and an effort towards reviving the economy.”

 

Quote from Sanjay Razdan on the budget. He is Managing Director Capita India.

 

Thanks and Regards,

Tushar Santra

09967462250.

 



 

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Tuesday, July 14, 2009

Budget reactions on FBT abolition and its implication to employees by Dr. Rakesh Gupta

Dear Mr. Murali,


I would like to take this opportunity to write this mail to you on the
recent abolition of FBT and how its going to impact the employees.


Please find below the reactions on the abolition of FBT by the government
and the increased burden of tax on employees by Dr. Rakesh Gupta, Senior
Advocate and former ITAT (Income Tax Appellate Tribunal) member. Also,
attached his photograph for the same.


Hope you will be able to carry this news for the benefit of your reader and
guide them about the implication of FBT abolition to them.


Thanks and regards,


Farooque Shaikh
-----------------------------------------------------------------
Ogilvy Public Relations Worldwide
Tel.: +91-22-44344669
Cell: +91-9819753272
www.ogilvypr.com


(See attached file: Article on tax burden on employees post FBT abolition
- Dr. Rakesh Gupta.doc)(See attached file: Photo - Dr. Rakesh Gupta.jpg)

Advocate and former Income Tax Appellate Tribunal (ITAT) member
Would the Tax on Perquisite (Post FBT Abolition) Over Burden the Employee?

Dr. Rakesh Gupta
Advocate and former Income Tax Appellate Tribunal (ITAT) member

The Union Budget is out. Industry's main demand of Abolition of FBT has
been met. Contribution to an approved Superannuation Fund exceeding Rupees
One Lac and ESOP's to employees will be now chargeable as perquisite in the
hands of the employees. That there would be further impact of taxation in
the hands of the employee is clear, as the ministry would now define the
tax incidence on employees on account of the fringe benefits that they get
from their employers. The question that would be arising in the minds of
the millions of employees would be the likely impact on them from the
change. Yes, they got a few sops from the Budget.

The basic exemption limits were raised by Rs 10,000/ giving them a net
benefit of Rs 1,000/. Employees above Rs 10 Lacs taxable salary got extra
benefit due to doing away of the 10% surcharge on their income tax. But
would they still lose overall from the budget provisions, as the burden of
taxation is passed back to them. After all most companies had adjusted
their pay packages on the basis of the Cost to Company of the employee,
including the Fringe Benefit Tax it had to pay. Would it be a windfall for
the company at the cost of the employee?

The valuation of perquisite should have the same exemptions for benefits as
were prescribed under FBT on the employer so that employees are not taxed
in more burdensome manner. These include valuation in respect of prescribed
electronic meal cards, prepaid vouchers, and meals, crèches, other
statutory obligations etc. However, there could still be tax incidence on
account of motor car, driver, club membership, credit cards and a host of
other items. Taking the sum total of the impact, the employee is likely to
get burden with more tax, and this could completely override the tax
advantage that the individual employee got from the budget, unless the
current exemptions are continued and valuation of benefits is done to
ensure no more burden on employees as was in pre FBT regime.

In conclusion, we see that the employees are likely to face more tax burden
from the transfer of tax on Fringe Benefits to them. It is hoped that the
government would be mindful of the impact and align the rules of valuation
with objective of at least maintaining the tax on benefits no more than pre
FBT scenario. While framing the rules it should be borne in mind that the
last rules for valuation of perquisites were defined in 2001 and inflation
has been running high since then. The need to leave sufficient money in the
hands of the employees to increase spending power is the need of the hour.
-END-


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Budget Reflections

A Disappointing Budget
for

 Small Scale and Micro Industries

The Union Budget 2009-2010 came as a total disappointment for the Micro and Small Scale industries as there is no special packages given for this sector which are severely affected due to economic downturn.

There is no mention about the reduction in interest rates for micro & SSIs on par with the agriculture eventhough  MSEs are the largest employment provider and contributor to GDP.

Rs.4000 crore allocated to SIDBI for refinancing MSMEs was already announced by
the Prime Minister in the relief package and it has not actually reached the needy.

The abolition of Fringe Benefit Tax comes and service tax relief for exporters will give fillip to this sector. 

The allocation of Rs.2080 crores for power sector is not sufficient and not realistic since most of the states are suffering due to acute power shortage.

Though It was decided by the Government of India to reduce the Central Sales Tax from 2% to 1% from April 1, 2009, it was not implemented. We request that the Government of India should reconsider for reduction of CST to 1 % with retrospective effect.
 
K. GOPALAKRISHNAN
Hon. General Secretary - TANSTIA-
Tamilnadu Small and Tiny Inds. Association
No.10, G.S.T. Road, Guindy, Chennai - 600 032.
Ph : 044-22501302, 22500939, Fax : 044-22501890
Email : tanstiaorg@gmail.com, tanstiaassn@yahoo.co.in
Website : www.tanstia.org.in

Budget Reactions- Mr. Harpal Singh (Chairman- Impact Group, Chairman- CII Northern Region, Mentor & Chairman- Emiritus Fortis Healthcare Limited)

 

Hi!
 
Please find attached herewith my mail and given below the budget reactions from Mr. Harpal Singh (Chairman- Impact Group, Chairman- CII Northern Region, Mentor & Chairman- Emiritus Fortis Healthcare Limited)
 
 
 
 
 
Thanks & Regards
 
Archana Surya
Senior Associate
Lexicon Public Relations & Corporate Consultants Limited.
(A Fleishman-Hillard International Communications Affiliate)
14-Community Centre, East of Kailash
New Delhi-110065

 

 

Budget Reaction

A balanced Budget

 

Text Box: Mr. Harpal Singh
(Chairman- Impact Group, Chairman- CII Northern Region, Mentor & Chairman- Emiritus Fortis Healthcare Limited)
The Budget this year appears to be a balanced one with the thrust on inclusive growth. Government has decided to keep the fiscal measures going for stimulating the economy. The Plan expenditure is higher by Rs 40,000 crore than what was mentioned in the interim Budget earlier. If we are lucky and have adequate monsoon, the Government's efforts may yield good harvest for the economy. The challenge for the Government would be to contain the Fiscal deficit which is set to reach 6.8% of GDP (around Rs 4 lakh crore) and return to the provisions of FRBM as soon as possible.

 

Allocations and spending in the rural economy through initiatives like enhanced allocation to NREGS, Bharat Nirman & PMGSY will not only work for the upliftment of the rural areas but will also help in the overall GDP growth of the country as the rural economy is unaffected by the global crisis. Increased spending on infrastructure will ensure liquidity in the market without increasing the fiscal deficit of the Government considerably.

 

On taxation front, the Government has done a commendable job by not increasing taxes despite such rigid fiscal conditions. Extension of Sunset clause is a welcome step considering IT Service industry is the key to India's GDP.

 

Extension of weighted deduction on R&D expenses in manufacturing will help in promoting innovation. Reduction in customs duty on various consumer goods will boost private consumption.

 

Increase in MAT, no increase in IT exemption for home loan interest and no headway on the divestment front were some of the disappointments. However, one cannot get everything from the Budget. There are constraints which the government has to deal with and given the current circumstances, this is a decent Budget.

 

To spur private participation in healthcare, the sector needed infrastructure status. Tax cut on import duties of medical equipments will allow healthcare institutions to access state-of-the-art med equipments.

 

Capacity expansion of all levels of education with a focus on faculty production and training is a welcome step. Infrastructure expansion in Higher Education will lead to increased enrollment rates which had been dwindling alarmingly. The focus on employment oriented vocational education will also boost enrollments in higher education institutions.

 

 

 

 
 

 

Re: Thanks Re: Budget reactions from Mr. Rohan Shah, Managing Partner, Economic Laws Practice

14th July 2009

 

Dear Murali Sir,

 

Thank you very much for carrying Mr. Rohan Shah, Managing Partner,ELP  budget reactions.

 

More Power to your pen!

 

Regards,

 

Vivek Nair / Mohan Rajan

Paradigm Shift PR

Mumbai

Tel: 22813797 / 98

Cell: 9833115116 / 9820030671

 



2009/7/10 Murali D <budget2009reactions@gmail.com>
Thanks for your quick 'reactions'!

Warm regards
D. Murali
http://Budget2009Reactions.blogspot.com/



--
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My views on Budget

Dear Editor
 
Giving below my comments on the budget.
I am also sending my photograph and my brief profile herewith as requested.
 
 
 
 
 
The budget presented by Mr. Mukherjee for sure was not the one to keep the reformers happy, rather it was shaped clearly on the political agenda of the Congress party. While it emphasized on the outlay for the rural India, which sector helped the Congress party to come to power, it clearly gave an impression that this government has already started laying a foundation for the preparation for the 2014 elections.
 
Interestingly the recently released economic survey 2008-09 has been largely ignored, in the sense that the budget totally missed on the divestment target, FDI in defense and insurance and many other reforms. In that sense the budget lacked a clear strategy and vision, which if attained , could have sent clear signals to the investors, corporates and the outside world. We would have definitely preferred to see the finance minister giving clear directive with his actions for propelling India into the 8 to 9% GDP growth over the next 5 years.
 
While abolition of surcharge and increase in taxable limits for the individuals is a welcome move, it will hardly help in bringing the money  into consumption and thereby helping stimulate the demand. The increase should have been much higher so as to divert some money towards spending on consumables by individuals.
 
For most of the industries, this budget was a non-event as there were no major changes or policy announcements, which was quite disappointing especially in the backdrop of the huge expectations built up in pre-budget period after the election results.
 
Big increase in the expenditure side largely with huge soaps on rural development and social schemes, although a welcome feature, is going to bring in lot of strain on the economy and the tax payers. It would be a real challenge for the finance minister to manage the huge fiscal deficit. Substantially higher borrowings are likely to increase the interest rates, which will be a dampener for the business sector.
 
Although the finance minister's intention of bridging the gap between "Bharat" and "India" is understandable, it certainly should not be at the cost of growth, especially when competing nations like China have gone several miles ahead and though quite late, we need to stand up and start running.
 
 
 
regards
Gurudas Aras Director
A.T.E. ENTERPRISES PRIVATE LIMITED Bhagwati House, A - 19,CTS No. 689, Veera Desai Road,Andheri (West), Mumbai - 400 053, India T  :  +91-22-6676 6100  Ext : 112   M :  +91-98200 39244    F :  +91-22-2673 2463  W :  www.ateindia.com    |  www.ategroup.com
 

Tax on Income from Dividend

Dear
Sir,

Sub: Union Budget 2009 – Tax on dividend distributed by companies –
Inclusion of dividend as income and deduction of tax in the hands of
shareholders

The Finance Minister has not touched the 'income from Dividend', where there is scope augmenting income as well as for bringing in 'equity in taxation'. As the law stands today the
shareholder who is getting dividend of Rs. 1 Crore and his counterpart who is
getting Rs. 10,000/- are treated alike i.e. the dividend is subjected to tax in
company's hand (in the form of dividend distribution tax) at the same
percentage and the dividend income is exempt in their hands. Instead if the
dividend income is added with other incomes and the tax suffered i.e. the tax
paid on the dividend distributed is allowed as rebate/deduction form the tax
payable, it will have equity in the sense that who earns more will pay more and
who has no other income will pay less tax or even can get refund if his/her
income is less than the maximum non-taxable taxable limit. One of the 'canons
of taxation' is equity and on that principle the tax payable will be more for
who earns more and will be less for those who earns less because those who are
in higher bracket will have to pay additional tax than the dividend
distribution tax of 15% (plus surcharge of 10% and education cess of 2% and
secondary and higher education cess of 1%) whereas who earns less will pay less
@10%(plus usual cesses) and those whose income is less than the maximum
non-taxable limit will get refund. Will the Finance Minister will look into the
matter and see that the act is amended accordingly to help those who are in the
lower income bracket.

Yours faithfully,
L. Madhav Muthiah, B.Com.
Manager, Sree Valampuri Agencies,

153G, North Veli Street,
Madurai 625001.
Mobile: 9894718741

Monday, July 13, 2009

scan file

RE: Thanks Re: Budget Reaction - Alroy Lobo, Kotak AMC

Sincere apologies for this but had sent it across to the Mumbai bureau.
Guess it got lost in translation amongst the deluge of reactions....

Warm Regards,
Roshan.M.Negi
Associate
Genesis Burson-Marsteller
THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR
1st floor Elegant House | Raghuvanshi Mill Compound | Lower Parel | |
Mumbai 400 013 , Maharashtra, India | Website: www.genesisbm.in
Email: roshan.negi@bm.com|
Tel PBX: + ( 91 22 2491 0783 | Ext : 266 |Mob : +91 98201 34864 | Fax:
+ 91 22 24911788
Disclaimer: The information in this email is confidential and may be
legally privileged. It is intended solely for the addressee and others
authorised to receive it. If you are not the intended recipient, any
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contents is prohibited and may be unlawful.

-----Original Message-----
From: Murali D [mailto:budget2009reactions@gmail.com]
Sent: Monday, July 13, 2009 3:19 PM
To: Roshan Negi
Subject: Thanks Re: Budget Reaction - Alroy Lobo, Kotak AMC

Thanks for your quick 'reactions'!

Warm regards
D. Murali
http://Budget2009Reactions.blogspot.com/

Budget Reaction - Alroy Lobo, Kotak AMC

Hi,

 

Please find below a quote from Mr. Alroy Lobo - Chief Strategist and Global Head, Equities Asset Management, Kotak AMC on the Union Budget 2009:

 

“It is a realistic budget and has an expenditure-led fiscal stimulus which is positive for domestic demand and medium term growth. The budget is also largely tax neutral which is positive for both growth and inflation expectations. The budget has worked with a nominal GDP growth assumption of 10% which is fair given the slow start to monsoons this fiscal year. The equity and bond markets have reacted to a high fiscal deficit as it has implications for monetary policy and the interest rate environment. However, if growth does pick up on the back of the fiscal and monetary stimuli, and divestments (no major revenue assumptions made in budget) materialize, it could be positive for India’s fiscal position.”

 

Also find attached his photograph for your reference.

 

Please feel free to get in touch if you need anything more.

 

 

 

Warm Regards,

Roshan.M.Negi

Associate

Genesis Burson-Marsteller           

THE HOLMES REPORT, 2008 CONSULTANCY OF THE YEAR

1st floor Elegant House | Raghuvanshi Mill Compound | Lower Parel | | Mumbai 400 013 , Maharashtra, India | Website: www.genesisbm.in

Email: roshan.negi@bm.com

Tel PBX: + ( 91 22 2491 0783 | Ext : 266 |Mob : +91 98201 34864  | Fax: + 91 22 24911788 

Disclaimer: The information in this email is confidential and may be legally privileged. It is intended solely for the addressee and others authorised to receive it. If you are not the intended recipient, any disclosure, copying, distribution or action taken in reliance on its contents is prohibited and may be unlawful.

 

Budget 2009

Pls find attached this comments.

300 word Article from Mr. Moon B. Shin, LG Electronics



Dear Sir,
 
Also find attached a 300 words write up on Behalf of Mr. Moon B. Shin, MD, LG Electronics on post budget reactions.
 
Thanks and regards,

Vineet Sharma
Hanmer MS&L|Member of PUBLICIS GROUPE)
E-228, Ground floor, East of Kailash New Delhi – 110065
M: +91 9999870197 B: + 91-11-46517700
F: +91-11-46517799
E-mail: vineet@hanmermsl.com
WebSite: www.hanmergroup.com

Information contained in any e-mail transmitted from or on behalf of Hanmer MS&L Communications Pvt. Limited are confidential and intended solely for the addressee(s) and may be legally privileged or prohibited from disclosure and unauthorized use. No legally binding commitments will be created by this E-mail message. Hanmer MS&L Communications Pvt. Limited may not be held responsible for the content of this email as it may reflect the personal view of the sender and not that of the company.

Post budget comments from Mr. Moon B Shin, Managing Director , L G Electronics

 

 

Budget 2009-2010

 

Moon B Shin

Managing Director, LG Electronics India

 

 

The Union Budget 2009-10 is a very progressive budget in terms of focus on public- private sector partnership & infrastructure development.

 

The government has stood by its plans in the positive development of the overall economy with a thrust on the rural development.  

 

E     The Announcement of Goods and Service Tax (GST) with effect from 01.04.2010 will bring about a phase change on the tax equitably between manufacturing and services and will accelerate Economic Growth and Competitiveness.

 

E     The decrease in custom duty on LCD Panels from 10% to 5% will enhance market for LCD TVs.

 

E     On direct tax side, key announcement is the abolishment of Fringe benefit Tax. It will lead to decrease in operational cost which will further impact pricing of the products positively.

 

E     Allowability of expenditure on In House R&D @ 150% to all manufacturing entities will encourage the technology development in India and will reduce the import of know-how.

 

E     The extension of tax holiday to export oriented units will boost exports and economic growth.

 

Overall, I foresee an improvement in the macro-economic condition of the country as this union budget proposes to boost agriculture, rural industry, education & infrastructure

 

 

Thanks and regards,

Vineet Sharma
Hanmer MS&L|Member of PUBLICIS GROUPE)
E-228, Ground floor, East of Kailash New Delhi – 110065
M: +91 9999870197 B: + 91-11-46517700
F: +91-11-46517799
E-mail: vineet@hanmermsl.com
WebSite: www.hanmergroup.com

Information contained in any e-mail transmitted from or on behalf of Hanmer MS&L Communications Pvt. Limited are confidential and intended solely for the addressee(s) and may be legally privileged or prohibited from disclosure and unauthorized use. No legally binding commitments will be created by this E-mail message. Hanmer MS&L Communications Pvt. Limited may not be held responsible for the content of this email as it may reflect the personal view of the sender and not that of the company.