Reminder about your invitation from Gopal Pai M

2010-01-14T22:40:00.000+05:30

This is a reminder that on December 30, Gopal Pai M sent you an invitation to become part of their professional network at LinkedIn.

Follow this link to accept Gopal Pai M's invitation.

https://www.linkedin.com/e/doi/958984606/-J-N0Uuh/gir_3491103_1/

Signing up is free and takes less than a minute.

This is a reminder that on December 30, Gopal Pai M sent you an invitation to become part of their professional network at LinkedIn.

> To: [budget2009reactions@gmail.com]
> From: Gopal Pai M [paigopalm@gmail.com]
> Subject: Gopal Pai M wants to stay in touch on LinkedIn

> I'd like to add you to my professional network on LinkedIn.
>
> - Gopal Pai M

The only way to get access to Gopal Pai M's professional network is through the following link:

https://www.linkedin.com/e/doi/958984606/-J-N0Uuh/gir_3491103_1/

You can remove yourself from Gopal Pai M's network at any time.

--------------

Reminder about your invitation from Gopal Pai M

2010-01-07T22:40:00.001+05:30

This is a reminder that on December 30, Gopal Pai M sent you an invitation to become part of their professional network at LinkedIn.

Follow this link to accept Gopal Pai M's invitation.

https://www.linkedin.com/e/doi/958984606/-J-N0Uuh/gir_3491103_0/

Signing up is free and takes less than a minute.

The only way to get access to Gopal Pai M's professional network is through the following link:

https://www.linkedin.com/e/doi/958984606/-J-N0Uuh/gir_3491103_0/

You can remove yourself from Gopal Pai M's network at any time.

--------------

LDF Govt’s Islamic bank -letter

2010-01-06T13:23:00.000+05:30

Dear Editor:

LDF Govt's Islamic bank

The Kerala High Court daunting a stay on the measures for the establishment of country's first Islamic bank for attracting investments needed for the development works from Gulf-based NRIs is a remarkable action to be much valued. The former Union law minister Subramanian Swamy desertves a clap for his action. No doubt the interest-free system of the planned Islamic bank is at odds to the banking laws of the country and out rightly against the secularist fabric of the nation.

The trick in the proposed plan could be understood on checking the share of State-owned Kerala State Industrial Development Corporation (KSIDC), which is only 11 percent. The remaining 89 percent is owned by private investors presumably the binamis of the politicians and communal outfits. If allowed to function, the Islamic bank will run as a parallel economic system damaging the financial prospects of the state. The Islamic bank would make the present banking system of the country precarious.

At present in Kerala a parallel economy runs by way of havala money and backings to terrorists. The recent boom in realty is the result of this huge unaccounted money. As the dubious hands in these fake money deals are at present under scanner, the idea of Thomas Isaac and Elamaram Kareem to start Islamic bank is a premeditated way to legitimize the black money. CPM led Government favoring the idea of starting an Islamic bank is resulted from the greed for money by the neo-liberalistic politicians of the party. The installation of the Islamic bank is a blatant corruption in the State to torpedo the economic sustainability of the State.

The People of Kerala must implore our government, and if necessary protest in the streets, until those do not respect our constitution are removed from public office. The people of Kerala are to be on the hook to do whatever is needed to ensure that our elected ministers to perform their jobs with honesty, and accountability. It is very imperative to support the endeavor of Subramanian Swamy.

K A Solaman

K A Solaman, S L Puram

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

Re : Thanks Re: Assalamuaalaikum warahmatullah

2010-01-02T14:40:00.001+05:30

Dear Mr D. Murali

Salam

Greetings please i got your mail please are you interested to proceed this transaction with me?

--- En date de : Ven 1.1.10, Murali D <budget2009reactions@gmail.com> a écrit :

De: Murali D <budget2009reactions@gmail.com>
Objet: Thanks Re: Assalamuaalaikum warahmatullah
À: zakizmomo@yahoo.fr
Date: Vendredi 1 Janvier 2010, 21h49

Thanks for your quick 'reactions'!

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

Gopal Pai M wants to stay in touch on LinkedIn

2009-12-31T09:53:00.001+05:30

I'd like to add you to my professional network on LinkedIn.

- Gopal Pai M

Confirm that you know Gopal Pai M

Every day, millions of professionals like Gopal Pai M use LinkedIn to connect with colleagues, find experts, and explore opportunities.

Visit my Netlog profile

2009-12-18T16:53:00.000+05:30

Don't want to receive invitations from your friends anymore? Click here.

ravindran manickam
male - 58 years old
Maharashtra

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!
Afterwards you can create your own profile.


		Take a look

Cheers,
ravindran

Is the button above not displayed well?
Click here, or paste the link below in the address bar of your browser.
http://en.netlog.com/go/mailurl/type=invite_1&mailid=506340&id=6&url=-L2dvL3JlZ2lzdGVyL2lkPTE3MDAyNzUxOTkmaT1oOTU_

Don't want to receive invitations from your friends anymore? Click here . Netlog NV/SA - E. Braunplein 18. B-9000 Gent. Belgium. .
BE0859635972 - abuse-en@netlog.com

Take a look at my photos on Facebook

2009-12-10T14:01:00.001+05:30

facebook

K.Vittal Shetty has:
102 friends
1 photo
0 notes
1 wall post
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:

http://www.facebook.com/p.php?i=1103383013&k=Z5E6ZVT2T4TF6BD1QG2UV4VRW3IB4261WVHWJ&r

Already have an account? Add this email address to your account here.

budget2009reactions@gmail.com was invited to join Facebook by K.Vittal Shetty. If you do not wish to receive this type of email from Facebook in the future, please click here to unsubscribe.
Facebook's offices are located at 1601 S. California Ave., Palo Alto, CA 94304.

High prices of essential commodities-letter

2009-10-25T14:29:00.000+05:30

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

Happy Diwali

2009-10-16T15:54:00.001+05:30

I have sent you a greeting. Click on the link below to view it.
http://www.indyarocks.com/profile/greeting_view.php?img=Z3JlZXRpbmdfRGl3YWxpXzA1XzA5LmpwZw==
- meherji

To send your own personalized greetings log into indyarocks.com Click here to send FREE SMS greetings
Please note: This message was sent to you by a user at Indyarocks.com. In case you do not wish to receive any more such messages, please contact the user who has sent you this message. If you do not know the user and continue to receive such messages from this user, please contact us at privacy@indyarocks.com Arrange your own love marriage? Register for Free at Shaadi.com Matrimonials

K VITTAL SHETTY sends a champagne

2009-10-08T02:20:00.001+05:30

K VITTAL SHETTY has sent you a champagne

K VITTAL SHETTY

To accept this gift please click the following link:

http://www.shtyle.fm/einv.do?iid=4822956B0837BAAC0C0DB9870EBFCE3D

Message :

Enjoy your gift,
Shtyle.fm

Share ringtones, songs, documents with your Shtyle.fm friends. 100MB of online storage space with your account.

You can opt-out of Shtyle.fm emails.

spirituality.com - from a friend

2009-09-21T16:10:00.000+05:30

YAHOO! LOTTO HEADQUARTERS CALIFORNIA UNITED STATES OF AMERICA
NOTIFICATION AWARD PRESENTATION CENTER
303 Second Street, South Tower, Suihte 500, San
Francisco,CA 94107 USA.

YAHOO LOTTO PROMOTION!

LOTTERY RESULTS SEPTEMBER 2009

WINNING NOTIFICATION !

Dear Sir/Madam

We are happy to inform you that you have Won a Prize money of (One Million, Two Hundred Thousand Great British Pounds (??1,200,000.00 GBP) for the month of SEPTEMBER 2009 lottery Promotion which was organized by YAHOO!.

Annually YAHOO! incollaborating with hotmail, gmail, Rediffmail, vsnl, aol and other Internet Service Providers, collect all the E-mail id's of the people that are on-line on Yahoo among the Millions that subscribe to We are Congratulating you for been one of the People selected to receive Top cash Prize for this Month,

Our Winners are Selected through Electronic Balloting System without the Winner Applying. We are Congratulating You for being One of the 12 Top Lucky Winners who will get cash prizes of (One Million, Two Hundred Thousand Great British Pounds (??1,200,000.00 GBP) for the Month of SEPTEMBER 2009, lottery win promotion which is organized by Yahoo! You are among the People that was selected for this Second Random for the Month of SEPTEMBER 2009.

These Are Your Winning Identification Numbers.....

Batch number.........................YLINC/7686550/82
Ticket/Lotto number.......................Lwh 09446
Reference number.............................Lwh 09552
Serial number.........................Lwh 009/552/007
Category.............................................2nd
Payment Number........TMC-HM3-0911

To Begin Your Claims, Kindly Contact Our (Overseas) Payment Officer For Your Prize
(Hassan Abdul Rahman) At Email;
EMAIL: drhasssanabdulrahman@live.com
Tel: +62-856-917-12223
Without any further delay. Otherwise your Prize will be returned unclaimed to Our National Headquarters and will be Donated to Charity Homes.

You Are Required To Forward To Your Agent With The Following Details:

1.FULL NAMES...........................................
2.COUNTRY OF ORIGIN..........................
3.DATE OF BIRTH.....................................
4.OCCUPATION........................................
5.TELEPHONE NUMBERS.....................
6.RELIGION/BELIEVE.............................
7.SEX AND MARITAL STATUS.................
8.REFERENCE NUMBER...........................
9.BATCH NUMBER........... .........................
10 TICKET AND LOTTO NUMBER...............
11 SERIAL NUMBER...............................
12 CATEGORY..........................................
13.AMOUNT WON ..................................
14.PAYMENT NUMBER.........................

As soon as you contact our (Overseas) Payment Officer , He will advise you on the Procedure to claim your Won Prize Money Immediately.

NOTE: YOU ARE STRONGLY ADVISED TO KEEP ALL YOUR WINNING CONFIDENTIAL TILL CLAIM IS MADE TO AVOID WRONG OR DOUBLE CLAIMING.ANY BREACH OF CONFIDENTIAL DISQUALIFIES YOU FROM GETTING YOUR PRIZE.

Congratulations Once More!!
Yours Faithfully
Dr.Austin Owchor: Finance Director,
Barrister.Steve Adams: Secretary,
Dr.Rooney Smith: Head of Administration.
[YOU MUST CLAIM YOUR PRICE ON OR BEFORE 21 DAYS]

A friend thought you'd be interested in spirituality.com. To view it, click the link below, or cut and paste the URL into your Web browser.

http://www.spirituality.com

spirituality.com is inspired by the book 'Science and Health with Key to the Scriptures' by Mary Baker Eddy. On the site, you'll find stories from people who have discovered how prayer, and an understanding of their connection to God, can bring peace, healing, and happiness to themselves, their families, and their communities.

You can browse our collection of articles, join live chat events, search the Bible and 'Science and Health', find inspiring books and CDs in the online shop, send free animated e-cards, and sign up for daily and weekly newsletters.

Hope to see you soon!

Copyright 2008 The Christian Science Publishing Society. All rights reserved. Due to the nature of this transmission, spirituality.com cannot be responsible for any changes or alterations made to this email.

New message

2009-08-18T19:35:00.001+05:30

Good News
Now you can get IMEXSU products for Europe from

IMEXSU Europe GmbH

Congratulation to withstand against the present scenario and market situation,
We can help a little bit to survive in this situation by:

* Cutting Cost Per Components
* Improving your quality
* Reduce delivery time.
* Reduce man-power
* Giving consistency

if you think you are ready now to introduce few new things to your present Machining system, which will save lot of your Hard Earned Money, it's time to contact IMEXSU.

The range what we have is unique, and that's your tomorrow's need but we are ready to offer today to you. This is Just few.

Examples of few DeBurred Job's
Steel IMPOSSIBLE done on right photo half side only on left, compare the photo before

S.S. Very Difficult

C.I.

Aluminum

This are just few
We have more then this in All Metals and Non-Metals.

You are missing something in your setup, or with your present systems something left ? and if you want to complete your range of DeBurring after Machining,
Please feel free to get in touch with us, We will be glad to co-operate.
What we need from you for your solution:

# A photo of the components (Full and Showing Burr)
# Soft Copy if Possible
# Clamping position of same in Machine
# Some details about you

Shortly we are going to start a Case-Study of components, and if you wish to subscribe, send your small product photo, and whenever we will have similar products we will be in touch with you, Also every month you will have a new product news form us, Inform your willingness.

And we will be in touch with you for your needs.
Thanks And Best Personal Regards
Praveen Panchal
Mobile +919869457899

Visit
www.de-burring.com
www.imexsu.com

IMEXSU (INDIA)
( GPS position N 19°07.136' ; E 072°53.316' )
8-A, Vaibhav Industrial Estate, Baji Pasalkar Marg, Next to SakiVihar Telephone Exchange,
Mumbai - 400072, INDIA
Telephone +91-22-28570339 / 0445 / 2814, Fax +91-22-28574829
USA Fax. +1-413-771-3099,
Email:- pm1@imexsu.in, Website:- www.imexsu.com & www.de-burring.com

DeBurring Brushes & Holders to Directly DeBurr on your Present
Vertical & Horizontal Machining Center (VMC / HMC)

"when the going gets tough, the tough gets going"

This e-mail is not spam. Please note that the sender has used his authentic email address and can be reached for any question or complain.

CONFIDENTIALITY NOTICE:
This e-mail transmission may contain confidential; or legally privileged information that is intended for the individual or entity named in the e-mail address. Use of such information by any intended recipient shall be limited to the purpose for which such information was sent. Unauthorized use, disclosure or copying is strictly prohibited and may be unlawful. If you have received this e-mail transmission in error, please reply to the sender and delete the message.

These information and our technical advice - whether verbal, in writing or by ways of trials - are given in good faith but without warranty, and this also applies where proprietary rights of third parties are involved. Our advice does not release you from the obligation to check it validity and to test our products as to their suitability for the intended processes and uses. The application use and processing of our products and the products manufactured by you on the basis of our technical advice are beyond our control and, therefore, entirely your own responsibility. Our products are sold in accordance with our General Conditions of Sale and Delivery in case if you need copy please ask for.

khou.com article from Kadi Ouedraogo Donation

2009-08-02T17:08:00.001+05:30

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.

R VASUDEVAN (044- 42148569)

2009-07-19T13:06:00.001+05:30

Item (1) PSU Banks

Please refer my Email dt.8^th 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 15^th 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.

K VITTAL SHETTY sends a champagne

2009-07-16T17:16:00.001+05:30

K VITTAL SHETTY has sent you a champagne

K VITTAL SHETTY

You can opt-out of Shtyle.fm emails.

2009-07-16T15:51:00.000+05:30

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.

Opinion for Budget Line

2009-07-15T10:32:00.000+05:30

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.

Please do not print this email unless you really need to.

Privileged / Confidential Information may be contained in this message and intended for certain recipients. If you receive this message in error please delete immediately. If you are not an intended recipient, you are hereby notified that any disclosure, reproduction, distribution or other use of this communication and any attachments is strictly prohibited. If you have received this communication in error, please notify the sender by reply transmission and delete the message without copying and disclosing it. Opinions, conclusions, and other information in this message that do not relate to the official business of the Grey Group shall be understood as neither given nor endorsed by it.

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

2009-07-14T17:11:00.000+05:30

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-

Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message
(or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such case,
you should destroy this message and kindly notify the sender by reply email. Please advise immediately if you or your
employer does not consent to email or messages of this kind. Opinions, conclusions and other information in this message
that do not relate to the official business of the sender's company shall be understood as neither given nor endorsed by it.

For more information on WPP's business ethical standards and corporate
responsibility policies, please refer to WPP's website at
http://www.wpp.com/WPP/About/

Budget Reflections

2009-07-14T15:55:00.001+05:30

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)

2009-07-14T13:57:00.000+05:30

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

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

2009-07-14T12:26:00.001+05:30

14^th 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/

--
Paradigm Shift Public Relations
10 Mistry Chambers, Ground Floor
Next to Strand Cinema
Mumbai - 400005
Tel: +91 - 22 - 22813797 / 98

My views on Budget

2009-07-14T11:45:00.000+05:30

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

2009-07-14T09:48:00.001+05:30

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

scan file

2009-07-13T17:25:00.001+05:30

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

2009-07-13T15:30:00.000+05:30

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
disclosure, copying, distribution or action taken in reliance on its
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

2009-07-13T15:18:00.000+05:30

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

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

2009-07-13T14:47:00.001+05:30

Pls find attached this comments.

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

2009-07-13T14:00:00.001+05:30

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

2009-07-13T13:58:00.001+05:30

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

Post Budget Reaction for Information Technology Industry

2009-07-13T12:12:00.000+05:30

Post Budget Reaction for Information Technology Industry

Writer: Mr. C R Vinay, Co-Founder, Chairman & Managing Director, Customer Centria

In the post recession period there has been a phenomenal change in the fortunes as well as the working styles of the different industries. The economic slowdown was like a jolt unexpectedly forcing the companies to do a serious introspection on their policies. With layoff notices, unpaid leave and 'on the bench' becoming the most commonly floating words around, the Indian workforce tasted recession, the worst import of the West. Not only were the industries forced to cut on costs, they were also asked to justify their spending and revenues and to add value to every expenditure they made.

One of the worst hit industries in the aftermath of recession was the IT industry of India. Once the blue-eyed industry of the west, especially US, the Indian IT companies were an instant hit due to their large talent pool of English speaking workers. After experiencing the dot com downfall, this is the second time the US is facing a decline of revenues in the IT sector. The recession this time might not be similar to the dot com bubble burst of the 90s but the impact is more or less the same. There are confirmed reports that IT budgets in a number of industries in the US and UK, have been nearly halved. After project cancellations and lay-offs, a number of Indian IT workers in the US were asked to leave. The situation has been aggravated further by southward movement in the billing rates, a longer payment period cycle and increased competition from other low cost destinations.

With a much more stable UPA back in its second innings, India's Industry was hopeful that this budget would rev up the industry and bring back its former glory. The IT/ITes industry that contributes around 6% to the national GDP has high expectations from the Union Budget 2009. The demands were few and fair.

The demand of the industry was to extend the tax holiday by another decade as the growth is on a steep decline in the last one year due to recession globally. The recession and the lack of tax subsidy are resulting in businesses to layoff teams. There is a need for a stable policy regime for the IT hardware industry and for growth-oriented measures to boost domestic IT consumption. The STPI extension in this regard has come as huge relief to the IT sector. Even though the tax-holiday has been extended only for a year, it still will be able to give the recession hit industry support and stamina to revive itself.

Tax analysts feel that even though the tax savings from this holiday might not be able to make up for the huge losses these businesses have suffered globally, it still is going to be beneficial. Extension of the 10A/10B extension will surely provide a breather. This is particularly important for SMEs to facilitate their continued growth, which might not have the right resources to move into SEZs. This will also facilitate move into Tier 2 and 3 cities. The extension of this scheme is an important and necessary step to ensure continued growth for this sector.

For the employees, abolition of fringe benefit tax (FBT) will make ESOPs (employee stock ownership plan) more attractive. Transfer pricing was a cause for concern. The IT industry has been one of the biggest contributors to the FBT tax, due to its high expenditure in terms of traveling, hospitality and ESOPs.

There was also a much-required need for a new tax structure on the e-commerce businesses. The Information Technology Act, 2000, which is the first legislation to deal with electronic commerce, is silent on taxation. Substantial amount of state revenue, which is generated through direct and indirect taxes, is lost when Internet transactions remain untaxed. The removal of FBT for the industry and employees to emphasis on key e-governance projects has come as a major breakthrough for the sector of e- governance. It is heartening to see investment in key e-governance projects with an emphasis on important initiatives like unique ID programme. The excise duty exemption on packaged software is also a positive step.

One of the main reasons behind the success of India's IT sector over the years has indeed been the tax holiday which has helped these firms plough back their earnings and fund their growth, especially given the fact that the banks have been loath to funding IT companies. Primarily, the sector had been asking the Finance Ministry to clear the mist around tax anomalies. This budget has helped cleared a lot of confusion on the multiplicity of taxes on packaged software.

Brief profile of Mr. C R Vinay

Co-Founder, Chairman & Managing Director

Vinay is an MBA in Marketing and Information systems from a premier institute in India with more than 13 years of experience in Advertising, Marketing and Technology. His vast global experience ranges from providing Marketing and Advertising consulting to leading companies in India to Analytical CRM and Analytical Marketing consulting to leading enterprises globally. His penchant for Customer Management coupled with his strong background of technology-driven Marketing focusing on driving a globally competent Customer Management company. He is driven by the belief that every enterprise needs to get Customer Centric in order to maximize all round value.

Thanks and Regards.

Thank you !

2009-07-13T10:15:00.000+05:30

Dear Sir,

Many thanks for carrying budget feedback of Mr. Sunil Goel, GlobalHunt India in your publication.

Thanks & Regards,

Kavita Kapoor

Asst. Manager (Corporate Communications)

GlobalHunt India Pvt Ltd.

E 45/6,

Okhla Phase-II,

New Delhi – 110020

Email

kavita@globalhunt.in

Website

http://www.globalhunt.in

Board +91 11- 46547700,

Direct +91 11- 46547775,

GSM +91 9871666544

LEGAL DISCLAIMER - GlobalHunt India Pvt. Ltd, Registered under company act.

This e-mail message is confidential and for use by the addressee only. If the message is received by anyone other than the addressee, please return the message to the sender by replying to it and then delete the message from your computer. Internet e-mails are not necessarily secure. GlobalHunt does not accept responsibility for changes made to this message after it was sent. Whilst all reasonable care has been taken to avoid the transmission of viruses, it is the responsibility of the recipient to ensure that the onward transmission, opening or use of this message and any attachments will not adversely affect its systems or data. No responsibility is accepted by GlobalHunt in this regard and the recipient should carry out such virus and other checks as it considers appropriate.

Budget 2009

2009-07-13T09:26:00.001+05:30

Dear Sir ,

Pls find below my comments on the Subject.

According to the budget proposals upper slab tax payers get 2.65 % of tax savings (taxable income of 20 lakhs holder ). Whereas the bottom level tax payer's (ie taxable income of 5 lakhs holders) eligibility is only 0.20% of benefits. Why this disparity when the Constitution of India granted equality ( ie equal treatment to all citizens of India ) all are equal before the law but not in budget proposals. Is it justifiable? Is there any exemptions for the bottom level taxpayers to deny this right? Hope law makers will look into this. Allowing this right to the lower level taxpayers , purchasing power will automatically increase in turn Indian economy will also improve .President of USA , has also agreed to implement equality in income tax in the election manifesto .

Thanking You.

P.Muniappan.

(Senior Citizen)

Y1/39, SAF Games Village,

Koyambedu,

Chennai. - 600 107.

Budget Reactions

2009-07-13T09:20:00.001+05:30

Sir

Congrats and Hats off to FM for presenting a courageous Budget, for deviating from Traditional & Orthodox Budget itenaries, where every common man was looking for , how cooking gas fared and Corporates for tax cut on budget day. As only needs can be satisfied and not wishes. So Budget surprised each and everyone who was expecting to satisfy their wishes.

Spending on Rural and Social infrastructure & Allocation for Agriculture is praise worthy. As majority of our population lives in rural areas, Below Poverty Line and depends on Agriculture for livelihood. Let this satisfy our consumption and the finance run through the veins of Nation tru the Rural areas and Agriculture.

First the Fractured Economy need to be rectified by stimulus of such steroids. Then only strengthening could be possible. It's a very Bold step taken by the FM, presenting the Courageous Budget as a tailor fit, for the growth of India Inc. And growth is where the courage is. Let this be the strong base on which the future Budget builds up a new, POWER-ful & strong India. And be a example to world economy that we are not prone to, for their mistakes. Let every Indian be proud for such step taken by the Finance Minister and feel strongly Mera Bharat Mahaan always.

truly

U. Ramakanth Pai,

Manager ( Wholesale Division )

Govind Furnishings Pvt. Ltd.

Kochi.

Mobilize Resources

2009-07-12T21:51:00.001+05:30

From

T.V. JAYAPRAKASH

"BHAVANA"

NEAR UMMINI SCHOOL

DHONI P.O.

PALAKKAD - 678 009

KERALA.

The Editor

The Hindu BUSINESS LINE.

--------------------------------------------------------------------

BUDGET LINE

Mobilization of resources in the service of the common good

--------------------------------------------------------------------

The provision of the three focused fiscal stimulus packages in the form of tax relief, increased expenditure on public projects and the monetary easing and liquidity enhancing measures taken by the RBI could counter the negative fall out of the global slowdown on the Indian economy. Enhanced allocation to NHAI for the NHDP and allocation for railways, eradication of poverty and female illiteracy is a healthy trend. Housing, amenities and employment to the urban masses could be made available through schemes under JNNURM and RAY. APDRP could bring thrust in the power sector. There is scope for improvement in the condition of the farmers and children. Irrigation facilities could be improved through AIBP and agriculture developed through RKVY.

Decision to open one central university in each uncovered state is an approach that could be welcomed warmly.

The attempt to attain perceptible improvement in passenger amenities, cleanliness, quality of catering, safety & security and punctuality by the railways without increasing passenger fares and freight tariffs also is laudable.

Mahatma Gandhi had said, "Democracy is the art and science of mobilizing the entire physical, economic and spiritual resources of various sections of the people in the service of the common good of all".

T.V. JAYAPRAKASH

MA (Eco), MA (Socio), MCJ

Vice Principal, MES Women's College, PALAKKAD

Former Research Officer, Directorate of Economics & Statistics, Kerala.

BUDGET LINE

2009-07-12T21:41:00.000+05:30

---------- Forwarded message ----------
From: alok sharan <absharan24@gmail.com>
Date: Sun, Jul 12, 2009 at 9:37 PM
Subject: Fwd: BUDGET LINE (revised)
To: budget2009reactions@gmail.com

---------- Forwarded message ----------
From: alok sharan <absharan24@gmail.com>
Date: Sun, Jul 12, 2009 at 2:34 PM
Subject: BUDGET LINE
To: budget2009reactions@gmail.com

COMMENDABLE BUDGET : REQUIRE FINE TUNING IN THE SPENDING

Emphasis of the Finance Minister on Aam Aadmi (Aurat included), inclusive growth, infrastructure and spending on other popular schemes is commendable. The wish to achieve the inclusive growth by quantum increase in spending by the government is based on the approach of trickle down effect.

However, considering the long and complicated pipe lines of systemic procedures perforated with ubiquitous corruption of every hue and cries, mere increase in the allocation for these scheme will add little to the target group. An analogy of this is the poor water management system in the country where all the pouring in the cities ultimately goes in the drain leaving the cities underneath as dry as before. We must understand that just like proper rain harvesting system for optimal use of the rain water (precious resources, given little importance till date), proper delivery mechanism (read overhauling) is required to get the desired benefit out of the increase in the outlay in the budget at the cost of burgeoning fiscal deficit.

The other important theory a la Keynesian is providing stimulus by huge spending by the government on just anything. It appears that a consensus is emerging across the board to increase the government spending on infrastructure. However, the same should be fine tuned in the Indian context. To revive the economy and to maintain the growth, we need to increase our demand across the various products segment first and then the supply side would be taken care by the industry and entrepreneurs without much help from the government in terms of excise and or other similar measures. On the contrary, by spending huge sum of money on infrastructure e.g. ports, airports, flyovers etc. we are increasing the capacities and facilitating the manufacturers, traders and exporters without any matching increase in the demands except related with the infrastructure industries.

To address these anomalies, spending in the areas with a long term view to create wealth for the common men and women e.g. housing projects, up-gradation of wasteland, smaller irrigation projects, afforestation in tribal areas, land reforms with the help of industry minus the mafia, is required. It is also necessary to provide the educated unemployed and poor people various respectable opportunities to earn their livelihoods otherwise left out from NREGA. The major beneficiaries from these would be the people forming the base of the social pyramid. On one hand it will help the industry and on the other hand it will equally work as various welfare schemes launched by the government. These measures if taken in the right earnest will not only provide the necessary inclusive growth and increase in the demands but also push the economy of the country into higher growth trajectory.

Alok Sharan

New Delhi

(Views expressed herein is personal in nature and nothing to do with the orgainsation)

Re: Thanks Re: Budget 2009 Reaction

2009-07-12T21:40:00.001+05:30

Hi Murali,

In the site instead of views only my mail has been uploaded. Please do the needful

Regards,

Vinayak Pai

On Sun, Jul 12, 2009 at 9:38 PM, vinayak pai <vinayakpai14@gmail.com> wrote:

Excellent budget considering the Global scenario

Union budget 2009-10 was presented in the background of uncertainty about the shape of global economic recovery and extreme optimism on economic reforms path to be adopted by the newly elected government.

Budget has managed risk of sharp reduction in GDP growth rate by providing emphasis on Private consumption and Government Investment. Private consumption was stimulated mainly by increasing planned expenditure for NREGS & JNNRUM schemes, increase in the threshold level of taxes by Rs. 10000 and removal of 10 percent surcharge on income above Rs.10 Lakhs. As there was considerable slowdown in the private investments government stepped up investments in infrastructure sector. With thrust on domestic consumption and government investment this budget has ensured with reasonable certainty that Indian GDP growth is in excess of 6% in spite of uncertain global scenario.

Budget has disappointed big bang reform expectations by not announcing relaxation in FDI norms. It has also not laid any road map for disinvestments. I think these announcements not necessarily be part of Budget and can be made during the Financial year. I believe Government would announce these policies at an appropriate time.

I strongly think in the long run this budget would be remembered for insulating Indian growth from the global slump.

Vinayak Pai

Consultant - Wipro Ltd.

(Views expressed herein is personal in nature and nothing to do with the orgainsation)

On Sun, Jul 12, 2009 at 9:32 PM, Murali D <budget2009reactions@gmail.com> wrote:

Thanks for your quick 'reactions'!

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

Re: Thanks Re: Budget 2009 Reaction

2009-07-12T21:38:00.001+05:30

Excellent budget considering the Global scenario

Union budget 2009-10 was presented in the background of uncertainty about the shape of global economic recovery and extreme optimism on economic reforms path to be adopted by the newly elected government.

Budget has managed risk of sharp reduction in GDP growth rate by providing emphasis on Private consumption and Government Investment. Private consumption was stimulated mainly by increasing planned expenditure for NREGS & JNNRUM schemes, increase in the threshold level of taxes by Rs. 10000 and removal of 10 percent surcharge on income above Rs.10 Lakhs. As there was considerable slowdown in the private investments government stepped up investments in infrastructure sector. With thrust on domestic consumption and government investment this budget has ensured with reasonable certainty that Indian GDP growth is in excess of 6% in spite of uncertain global scenario.

Budget has disappointed big bang reform expectations by not announcing relaxation in FDI norms. It has also not laid any road map for disinvestments. I think these announcements not necessarily be part of Budget and can be made during the Financial year. I believe Government would announce these policies at an appropriate time.

I strongly think in the long run this budget would be remembered for insulating Indian growth from the global slump.

Vinayak Pai

Consultant - Wipro Ltd.

(Views expressed herein is personal in nature and nothing to do with the orgainsation)

On Sun, Jul 12, 2009 at 9:32 PM, Murali D <budget2009reactions@gmail.com> wrote:

Thanks for your quick 'reactions'!

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

Budget 2009 Reaction

2009-07-12T21:32:00.001+05:30

Hi,

Please find enclosed my reactions to Budget 2009 .

I am Vinayak Pai, I work for Wipro Ltd. as a Consultant. Views expressed here are my personal views.

If you need any clarifications please feel free to do so.

Hope to receive feedback from you.

Thanks & Regards,

Vinayak Pai

budget 2009

2009-07-12T21:31:00.000+05:30

Sir,
National Food Security Act ensuring every BPL family wheat or rice at subsidised rate by law is good. But the problem is with those who do not have even such purchasing power and suffer starvation in silence in some places. It is to be addressed. Primary education needs more fund allocation that every child gets quality education. Agriculture needs investment for development rather than leaving it to credit expansion only. Increase in tax exemptions help the rich. To help poor senior citizens more old-age homes with free service should be provided.
A Jacob Sahayam, Golf Links Rd, Thiruvananthapuram

See the Web's breaking stories, chosen by people like you. Check out Yahoo! Buzz. http://in.buzz.yahoo.com/

BUDGET LINE

2009-07-12T14:34:00.001+05:30

COMMENDABLE BUDGET : REQUIRE FINE TUNING IN THE SPENDING

The other important theory a la Keynesian is providing stimulus by huge spending by the government on just anything. It appears that a consensus is emerging across the political parties to increase the government spending on infrastructure. However, the same should be fine tuned in the Indian context. To revive the economy and to maintain the growth, we need to increase our demand across the various products segment first and then the supply side would be taken care by the industry and entrepreneurs without much help from the government in terms of excise and or other similar measures. On the contrary, by spending huge sum of money on infrastructure e.g. ports, airports, flyovers etc. we are increasing the capacities and facilitating the manufacturers, traders and exporters without any matching increase in the demands except related with the infrastructure industries.

To address these anomalies, spending in the areas with a long term view to create wealth for the common men and women e.g. housing projects, up-gradation of wasteland, smaller irrigation projects, afforestation in tribal areas, land reforms with the help of industry minus the mafia, is required. It is also necessary to provide the educated unemployed and poor people various respectable opportunities to earn their livelihoods otherwise left out from NREGA. The major beneficiaries from these would be the people forming the base of the social pyramid. On one hand it will help the industry and on the other hand it will as well politically suit the government. These measures if taken in the right earnest will not only provide the necessary inclusive growth and increase in the demands but also push the economy of the country into higher growth trajectory.

Alok Sharan

Dy. Manager (Marketing)

State Bank of Hyderabad

New Delhi

(Views expressed herein is personal in nature and nothing to do with the orgainsation)

Salaried Class are more taxed now

2009-07-11T18:43:00.000+05:30

Dear Sir,

The present Union Budget has not given any direction to the economy. The greatest menace during the last two years is the unprecedented continuous rise in prices of almost all food articles. Finance Minister, Sri Pranab Mukherjee has not taken any concrete steps to address this issue.

2. Though, the thrust to infrastructure sector is praiseworthy, it is on expected lines only. Only issue is the care to be to taken for the environment protection and not touching the fertile agricultural land.

3. As far as the working class is concerned, the enhancement of tax exemption limit by Rs.10,000 is just a peanut, giving a benefit of just Rs.1,000 per year, simply ignoring their own election manifesto. This gain will simply vanish if you take the Fringe Benefit Tax into account.

4. The Fringe Benefit Tax is not scrapped at all. It has just been shifted from the employers to the employees. Now, an employee having small benefits like concessional residential accommodation etc. has to pay hefty taxes on this, instead of the employer. FM’s proposal is highly illogical. He should have worried about the tax collection. He need not worry whether, employer pays it or employee pays it. Perhaps he may even think of taxing employees for utilizing furniture, electricity, water and building in their own offices!

With regards,

B.N.Bharath

Manager (Credit Analyst)

Mid Corporate Regional Office,

State Bank of India, LHO,

Bangalore.

--- Disclaimer --- The information in this mail is confidential and is intended solely for the addressee. Access to this mail by anyone else is unauthorised. Copying or further distribution beyond the original recipient may be unlawful. Any opinion expressed in this mail is that of the sender and does not necessarily reflect that of State Bank Group. ----

Budget 2009-10

2009-07-11T18:16:00.001+05:30

You used Gmail's "Open as a Google document" link to view the attachment called "ravi photo".

By doing this you saved an editable copy online at Google Docs: http://docs.google.com/Doc?id=ddjk6zvc_0mhf4dpgq&btr=EmailImport

Google Docs allows you to:

Create and edit documents, spreadsheets and presentations online, from anywhere you have Internet access.
Share documents with others, even collaborating on the same document at once, in real time.
Know that your documents are safe. Since your content is stored on Google's secure servers, even if something happens to your hard drive, your documents are protected.

You can always get back to Google Docs directly at http://docs.google.com

Thanks,
The Google Docs Team

Questions? Take a quick tour or visit the Google Docs Help Center. Please note this is an automated message -- we won't see it if you Reply to this.

Budget 2009.

2009-07-11T17:12:00.000+05:30

PRESS RELEASE

BIG DISAPPOINTMENT TO MSME SECTOR

At a time when the Small and Micro Industries, which are the veritable back bone of our national economy, expected some relief from the Central Budget from a Government which was just voted to power with an impressive  mandate, the Finance Minister has turned a Nelson's eye. This is a big disappointment to the whole Small Scale and Micro Sector. We are at a crucial pace in our onward march, when big industries are making a tight-rope dance and retrenching their workers under severe economic meltdown. But even in such a critical situation it is heartening that the Small Scale and micro sector are cleverly cajoling their labour to move forward with all   their handicaps.

There is nothing tangible in the present budget for protecting the Small Scale and micro industries which are abundantly providing employment opportunities for our teeming millions next to Agricultural sector.

No doubt the Budget gives a degree of rural orientation like equated interest   for the agricultural sector. MSME another major one like agricultural sector warranted similar concession of equated interest, which was not taken in to consideration, raising of excise limit from its present 1.5 crore to 3 crore, and instant reforms on Labour Welfare, most importantly our Plastic Industry's repeated prayer for removing the customs duty from its 5% on import of Plastic raw material and the additional import duty at 4%, has not been given its due.

We earnestly hope and trust that the Honourable Finance Minister would consider the request of small and micro industries, whose contribution to our national economy is not inconsiderable with 33% export, 40% in production and 8% share on GDP even as from its existing role under unorganized sector, for what it is worth at least, while replying to the debate on the Budget Proposals.

With kind regards,

G. Sankaran – President,
Tamil Nadu, Pondy Plastics Manufacturers & Merchants Association,
                                                                                              (TANPPA) ,
New No: 26. Choolai High Road,
Choolai, Chennai – 600 112.
Ph: 044 – 2669 2324.
Fax: 044- 26692758.
Email: tanppa_in@yahoo.co.in

Looking for local information? Find it on Yahoo! Local

Looking for local information? Find it on Yahoo! Local

Budget 2009.

2009-07-11T17:01:00.000+05:30

PRESS RELEASE

BIG DISAPPOINTMENT TO MSME SECTOR

At a time when the Small and Micro Industries, which are the veritable back bone of our national economy, expected some relief from the Central Budget from a Government which was just voted to power with an impressive  mandate, the Finance Minister has turned a Nelson's eye. This is a big disappointment to the whole Small Scale and Micro Sector. We are at a crucial pace in our onward march, when big industries are making a tight-rope dance and retrenching their workers under severe economic meltdown. But even in such a critical situation it is heartening that the Small Scale and micro sector are cleverly cajoling their labour to move forward with all   their handicaps.

There is nothing tangible in the present budget for protecting the Small Scale and micro industries which are abundantly providing employment opportunities for our teeming millions next to Agricultural sector.

No doubt the Budget gives a degree of rural orientation like equated interest   for the agricultural sector. MSME another major one like agricultural sector warranted similar concession of equated interest, which was not taken in to consideration, raising of excise limit from its present 1.5 crore to 3 crore, and instant reforms on Labour Welfare, most importantly our Plastic Industry's repeated prayer for removing the customs duty from its 5% on import of Plastic raw material and the additional import duty at 4%, has not been given its due.

We earnestly hope and trust that the Honourable Finance Minister would consider the request of small and micro industries, whose contribution to our national economy is not inconsiderable with 33% export, 40% in production and 8% share on GDP even as from its existing role under unorganized sector, for what it is worth at least, while replying to the debate on the Budget Proposals.

Looking for local information? Find it on Yahoo! Local

Budget Line: Dr Raghupati Singhania on the budget

2009-07-11T16:43:00.001+05:30

Dear Editor:

Here is a detailed budget reaction by Dr Raghupati Singhania, Chairman Automotive Tyre Manufacturers Association (ATMA) for Budget Line .

A photograph of Dr Singhania is attached for this purpose please.

Regards,

Pankaj

--

Pankaj Sukhija

+91 98101 23446

BUDGET REACTION - TYRE INDUSTRY

By Dr. Raghupati Singhania

Chairman

Automotive Tyre Manufacturers' Association (ATMA)

While the thrust on infrastructure and rural economy is welcome, Tyre Industry is somewhat disappointed that the long overdue correction in the anomaly of inverted duty structure, with customs duty on Natural Rubber (principal raw-material) being 20% and duty on tyres (finished product) @ 10% (or even lower under various trade agreements) has remained unresolved.

Likewise, several other tariff inconsistencies in customs duty on raw-materials of tyre industry which are not manufactured domestically or in cases where domestic production is inadequate to meet demand from the tyre sector, have remained unaddressed. Tyre Industry is optimistic that its concerns to arrest declining trend in tyre exports from India and accelerating growth momentum will be addressed by appropriate policy interventions.

Stepping up allocation for National Highways Development Programme (NHDP) by 23% will provide the much needed impetus for developmental pace of national highways.

On the whole, the expectations from the budget were very high and the Finance Minister has tried to do a balancing act.

Fw:

2009-07-11T16:34:00.000+05:30

Note: Forwarded message attached

-- Original Message --

From: "sumit sony" sumiteram@rediffmail.com
To: sumiteram@rediffmail.com
Subject:

2009-07-11T16:32:00.000+05:30

budget reactions

the budget forwarded by finance minister is designed keeping in mind the demand side of the economy .

the tax slab will ease the people to invest more & probably people will go more for green shopping thereby reviving the money in the economy also this will push the production cycle thereby increasing the development of the core sectors of the economy.

also the economy could be revived by creating more of jobs thus enabling people to spend more & enabling the wheel of progress to pick up the pace.

brief data about me

i am sumit pursuing my PGP in Marketing from Skyline Business School Gurgaon & currently in my fourth semester.

Fwd: Budget with Long Range vision for Growth With Inclusiveness

2009-07-11T14:39:00.001+05:30

I wish to add that in view of the expanding shortage of infrastructure,both physical and social in relation to demand India must adopt the practice of presenting a separate infrastructure budget on the lines of railway budget.This budget must cover policy initiatives relating to infrastructure,fund allocation,funding pattern including public private partnership,guidance to states regarding infrastructural projects ,levy of usr charges ,monitoring of budget spendings and outcomes etc.

---------- Forwarded message ----------
From: Dr. K. K. Ammannaya <kkammannaya@gmail.com>
Date: Jul 9, 2009 8:37 PM
Subject: Budget with Long Range vision for Growth With Inclusiveness
To: budget2009reactions@gmail.com

The budget presented by Union Finance Minister Sri Pranab Mukherjee has shown rare long range vision for growth with increased inclusiveness in the growth process.The focus on agriculture,rural development,infrastructur development,rural housing expansion and employment creation will spur overall growth and contribute to increase in GDP.The stress on education,skill development and health care will contribute to human development and enhancement of productivity of working population.Larger government expenditure will surely contribute to growth.Alongside growth the Finance Minister has sought to increase inclusiveness in the process of growth and this is laudable.NREGS is sought to be implemented with greater vigour and allocation for this programme has been stepped up to Rs.39100 crores,144 per cent increase.About 44.7 million households are going to be covered under this programme this fiscal as against 33.9 million last year.The scheme is sought to be brought in to convergence with other rural schemes for greater effectiveness.Also bharat nirman programme and rural health mission will get larger allocations.The idea of increasing credit availability in rural India and stress on rural housing expansion are also most welcome.Another big idea in this budget is the proposal to enact Food Security Act to which there is an express commitment on the part of UPA government.Enactment of the proposed Act will guarantee as a matter of right to each family below poverty line 25 KGs of rice or wheat and this will surely become a tool for fight against poverty.While NREGS has a component of work programme built in to it food security scheme will be by way of sheer income transfer scheme.Together these two programmes will be powerful tools for fighting against poverty.

One area in which the budget has fallen short of expectation is in the area of providing an immediate and exclusive stimulus for speedy recovery and growth of the economy in these days of economic down turn.The increased expenditure of Rs 61000 crores over the interim budget itself has to serve as a stimulus and there is no separate stimulus package for this purpose.The short sighted and hyper reaction of the markets to budget was indeed unwarranted.Strengthening of the economy in an enduring manner and enhancing its soundness was perhaps upper most in the mind of the Finance Minister.I agree that there was nothing in the budget to enthuse the market and change the mood of the market,trade .industry and corporate world.The FM was reluctant to reduce corporate tax.Also FM has not reversed the cuts effected in excise duties at the beginning of the economic down turn.This is really welcome..All the same some measure by way of protection in these days of economic slow down was required and the FM has simply over looked this.Another important thing is that the FM has failed to provide a road map for moving in the direction of fulfilling the targets embodied in the FRBM ACT. .Fiscal deficit of 6.8 per cent is really high and intolerable.The increase in deficit poses a real challenge.The FM has taken a risk in this area and he has preferred the path of growth with inclusiveness in lieu of the fiscal prudence.,.The widening fiscal deficit and large rural spendings can stand justified only if each Rupee is well spent.The government must ensure that the allocations are properly utilisedand in such a way that result or outcome equivalent to or commensurate with spendings accrue to the nation.Towards this end the government must ensure good governance.A monitoring system must be put in place to measure and evaluate outcomes.

By

Dr.K.K.Ammannaya

Ganga

V.P.Nagar

4th main

Udupi-576102

Missed Opportunity to raise resources to reduce fiscal deficit

2009-07-11T13:48:00.001+05:30

Budget-2009-10

Finance Minister has lost a golden opportunity to raise resources to contain fiscal deficit and comply with the FRBM Act.

All the western countries who were responsible for the financial meltdown and declared stimulus package had taken steps to raise taxes from the wealthy and granted concessions to the needy to create demand so that economy could sustain.

In its latest budgets both US & UK raised the income tax rates to 40 and 50% respectively for those who earn around $250000.The refrain of the government is for sharing the wealth with those who do not have.There is also proposal to increase capital gains and dividend taxes in the UK.Even capping of the executive pay is also in consideration for controlling the extravagant expenditure.There is no use in putting money in the hands of people who can afford to spend and extending concessions.

Finance Minister must not take the demands of the stock market seriously since it does not constitute the whole country and represents only minuscule minority propped up by the electronic media.
Private sector has failed to protect the public good throughout the world and the greed of private enterprises and their extravagant spending the entire financial system of the world into turmoil. In these circumstances divesting the public sector to enhance the pockets of private corporates will do more harm to the taxpayer than doing good.

Even if divestment is necessary it should be used only for further expansion of public enterprises and not bridge the budget deficit.
Even the concession extended to the industry should be limited to SMEs only.Even persons like NR Narayan Murthy suggested not to extend concessions to the industry who are able to earn sufficient profits.

It is time that the industry from which many of them find place among the riches in the world must share and help the government by not demanding any concessions from the government

K.VITTAL SHETTY, B.A., CAIIB,DBM(IIB),MBM

FOUNDER
KOHIMAVITTAL FINANCIALS
05,KANMANI ILLAM, I MAIN I CROSS
SRI. RAGHAVENDRA LAYOUT
BANNERGHATTA ROAD IIMB POST
BANGALORE-560076
kohimavittal@gmail.com
Cell:9845699904/09243108123
Phone:080-26483615

Encl:Photo

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

2009-07-11T13:01:00.000+05:30

Kind Attn.: Budget Reaction section, Hindu Business Line

Please find below the budget reaction on the abolition of FBT by the
government and the increased burden of tax on employees. The reaction is
from Dr. Rakesh Gupta, Senior Advocate and former ITAT (Income Tax
Appellate Tribunal) member. Also, please find attached Dr. Gupta's
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)

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 budget proposal would indicate that the big burden due to the change
were on ESOP's and contribution to pension schemes, if one were to assume
that the rest of the tax incidence were not material enough to be part of
the budget proposal. Alternatively, one could gauge on the likely scenario
impact by referring to the taxability on fringe benefits prescribed for
companies not under FBT, as this rule served the basis for the valuation of
perquisites of the employees of these companies for the last four years
that FBT was in force.

Assuming that the same would be mandated for the rest of the employees
after some alignment with the exemptions prescribed under FBT in recent
times, namely prescribed electronic meal cards, crèches, other statutory
benefits, first aid facility for employees etc, how would the employee
fare?

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. Additionally, benefits that already have
exemption as perquisites for employees of non-FBT companies should continue
to be exempt up to the prescribed amount. This would again exclude meals
through various provisions, Gifts and medical reimbursement up to a certain
amount among other items from being included as taxable perquisite.

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-

Privileged/Confidential Information may be contained in this message. If you are not the addressee indicated in this message
(or responsible for delivery of the message to such person), you may not copy or deliver this message to anyone. In such case,
you should destroy this message and kindly notify the sender by reply email. Please advise immediately if you or your
employer does not consent to email or messages of this kind. Opinions, conclusions and other information in this message
that do not relate to the official business of the sender's company shall be understood as neither given nor endorsed by it.

For more information on WPP's business ethical standards and corporate
responsibility policies, please refer to WPP's website at
http://www.wpp.com/WPP/About/

Budget Reactions - IT provisions are welcome

2009-07-11T10:51:00.000+05:30

The budget has been a bed of roses when it introduced SARAL-II in the place of existing irritating and perplex forms.This very idea is commendable as it facilitates smooth and easy assessments by officials. While on this subject, I request that we have combined return of income and wealth for all the assesses. Now- a-days, very few wealth tax returns are filed and departmental is not very keen on this subject. The combined return should correlate income with asset and vice versa. Barring salary income, against rental income of house property , column should be provided for the valuation of the building. Similary against interest income, particulars of deposits should be furnished.Against income from business,valuation of business should be disclosed.Asset particulars should be correlated with the income and vice versa. This provides better tracking by the assessing authorities.

The provisions which rationalise TDS administration and tax structure are welcome.The increase in the deduction under section 80 DDB, the increase in the scope of section 80 E, the abolition of surcharge in case of individual tax payers and the increase in basic wealth tax limits, presumptive taxation of small business people are laudable. Also worth appreciating are the provisions relating to capital gains and gift of kind properties in the revenue dimension.

The Finance Minister quoted Kautilya, the famous economist and Mahatma Gandhi, the peace -maker in his budget. Meaning proper compliance of laws leads to peace. Jai Bharath !!!

Regards,

K.Ch.A.V.S.N.Murthy,

Chartered Accountant,

Taxation Columist in Vaartha and Sakshi.

Yahoo! recommends that you upgrade to the new and safer Internet Explorer 8.

Discrimination between men and women

2009-07-11T10:24:00.001+05:30

Sir,

                  The Union budget ,2009 is a politically pragmatic but

financially weak budget that does not care for the escalating fiscal

deterioration with an estimated fiscal deficit of 6.8 % which will

cremate the Fiscal Responsibility and Budget management Act,2003

                  The Finance Minister continues to discriminate

between men and women with regard to Income-Tax exemption

limit.In fact, it is men who deserve a higher income- tax exemption

limit because most of the men have house-wives as their whereas

most of the income-tax-paying women have earning husbands.

The F.M. should haveraised the exemption limit to Rs.200,000 across

the board.

               Just Rs.10,000 increase in income-tax exemption limit

is mere peanuts. Tax on Rs. 10,000 is just Rs.1000.This Rs.1000

does not compensate for the increase in the cost of living and

this is no relief at all for the salaried classes.

               Defence is no substitute for diplomacy. An extra

Rs.27,103 crore on defence means that, that much less for

other sectors for development.

             What is the use of LCD TVs becoming cheaper for aam

admi ?.They would have been happy if ordinary TVs were cheaper.

            Witdrawal of FBT will not help common man or lower

middle class. Employers can afford FBT and the FM is losing revenue

for nothing.Employees have to pay tax on perks and that is an

avoidable burden on the tax-payers.

            Withdrawal of 10 % surcharge will benefit only the higher

income groups or the Shining India.In stead, if the F.M. had withdrawn

the 3 % education cess, it would have benefited all tax-payers.After

all, there is no guarantee that the cess money actually goes into

education.

            Income is income in whatever form or from whatever source.

One cannot but blame the FM for failing to tax the agricultural

sector, as it is a big chunk of our economy. If the FM does not

raise resources and instead take recourse to higher brrowings,then

we will jeopardise our prospects for growth, reignite the flames of

inflation, sow the seeds of another balance of payments crisis and

place an unfair burden on the next generation.

Yours truly

S. RAGHUNATHA PRABHU

                 M. Com., C.A.I.I.B.

STATE BANK OF TRAVANCORE

PUNNAPRA-688004 ALAPPUZHA

S. Raghunatha Prabhu

Amaraavathy Cottage

Thiruvampady

Alappuzha-688002

Increase non-tax revenue

2009-07-11T09:55:00.000+05:30

Interest on Bank Deposits

2009-07-10T18:48:00.000+05:30

CA. M. Lakshmanan, B.Com., F.C.A., DISA(ICAI), FIIISLA,
Partner, M. Lakshman & Co., Chartered Accountants,
16, Pandian Street, Alagappan Nagar, MADURAI 625003,
Tamilnadu State, INDIA.
:0452-2692973/2692833. : 09994992973.
(Insurance Surveyor cum Loss Assessor)
(Central Committee Memeber, GIANTS International, Mumbai)
Confidentiality Note : This information in the message and/or attachments may be fake and is intended solely for the recipient named above. It may contain confidential or privileged information. If you are not the intended recipient, you are hereby notified that you have received this transmittal in error and that any use of it is prohibited. Please notify the sender immediately by replying to this message and then delete it from your system. Do not read, copy, use or circulate this communication

God! Please grant me the serenity to accept things I cannot change,
the Courage to change things I can and wisdom to know the difference.

With Windows Live, you can organize, edit, and share your photos.

FW: Budget reaction piece - outsourcing industry

2009-07-10T18:13:00.000+05:30

Mr Murali,I

please take this in Budget Line

if possible

regards

kurup

-----Original Message-----
From: Tanuja Abhinandan [mailto:tabhinandan@crisil.com]
Sent: Monday, July 06, 2009 7:08 PM
To: bl_editor@yahoo.com; kurup@thehindu.co.in; kurupnk@gmail.com
Subject: Budget reaction piece - outsourcing industry
Importance: High

Dear Mr. Kurup,

Here is the reaction piece from Mr. GV Mani, Senior Director, Offshoring, CRISIL-Irevna.

Irevna is the high-end financial research and analytics outsourcing division of CRISIL, India's leading ratings, research, and risk and policy advisory company.

Usually, the industry reaction for the ITES industry is subsumed in the larger IT industry. This reaction piece is with specific reference to the ITES industry. This assumes relevance as the dynamics and the impact of budgetary measures are very different for this industry sub-segment compared to the IT bigwigs.

Would appreciate, if you could consider this for publication.

Also attached is Mr. Mani's photograph.

Warm Regards,
Tanuja Abhinandan
Manager, Market Development and Communications
CRISIL Limited, a Standard & Poor's company
9.6, Solitaire Corporate Park,
Andheri-Ghatkopar Link Road,
Andheri (East), Mumbai - 400 093, India.
Phone (Direct) : +91 (22) 6758 8046
(Board) +91 (22) 6758 8000-09
Mobile: +91 98192 48980
Fax: +91 (22) 6758 8088
E-mail: tabhinandan@crisil.com
www.crisil.com
www.standardandpoors.com
Disclaimer : This message (including any attachments) contains confidential information. If you are not the intended recipient, please delete the message (including any attachments) from your system without using, transmitting or storing it. Please also immediately inform the sender. E-mails are not secure and may suffer from errors, viruses, unauthorized interceptions / amendments. CRISIL and its subsidiaries do not accept any liability for loss or damage caused by this e-mail and may monitor e-mail traffic.

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

2009-07-10T17:54:00.001+05:30

10th July 2009

Hi,

Please find pasted below Budget reactions from Mr. Rohan Shah, Managing Partner, Economic Laws Practice.

Attached is his photograph.

Kindly carry.

Regards,

Vivek / Varsha

Paradigm Shift PR

Mumbai

Tel: 22813797 / 98

Cell: 9833115116 / 9821195211

Profile of Mr. Rohan Shah:

Mr. Shah is the Managing Partner of Economic Laws Practice and is based in the firm's Mumbai Office. His areas of expertise include taxation, corporate and commercial laws including real estate. Mr. Shah obtained an L.L.B. in Mumbai and is a qualified Solicitor of England & Wales. Mr. Shah is acknowledged in Chambers, the Legal 500 and International Tax Review as one of India's Leading Tax and Commercial Lawyers

Budget Reactions:

Budget 2009 was presented in the background of unprecedented over expectation of the anticipated benefits that the Budget would offer to various segments of the economy. Expectedly, Budget 2009 fell short of some expectations. In reality it is not the budget which delivered low, it is the industry whose expectations were unrealistically hyped. Viewed in the context of the global economic environment, and, India's own internal challenges Budget 2009 is adequate, even if it is short of being outstanding.

From the standpoint of taxation, the Budget takes some definitive measures which will have a deep and far reaching impact on the economy. Undisputedly, the most far reaching tax measure is the time bound affirmation of the introduction of GST from 1st April 2010. The scheduled introduction of GST, poses in equal measures a challenge, both for the Government and the industry. It should not be lost sight of that introduction of VAT, complex and challenging though it was, covered only goods, while the introduction of GST has twice the reach and complication of VAT, as it will cover both goods and services. While, VAT covered less than 50% of our economic activity, GST will ultimately embrace almost the entire spectrum of our economic activities. The key challenges as we migrate to a GST are the following:

Formulation of a uniform Legislative architecture to support the dual levies of Central GST and State GST

The formulation of a uniform revenue neutral rate

The formulation of exact provisions as to the taxing trigger for the levy of GST – either the place of supply or the place of consumption.

Formulation of a comprehensive tax credit mechanism inter se between Central and State GST

The blue print for GST is likely to be made public in August 2009 which leaves a transition period of eight months. Globally, this period of transition has been in excess of twelve months. There is a lot of running to be done by Government and industry to get to the milestone of GST on 1st April 2010. The only way that all concerned can win, is by industry and Government running the course in unison as a relay, and, not as a race.

Profile of ELP:

ELP is a leading law firm that was founded in 2001 by lawyers from diverse fields. The key practices of the firm are Tax, Litigation & dispute resolution, WTO and International Trade, corporate and commercial, venture Capital and Equity fund, Real Estate and construction, Media. ELP has offices in Mumbai, New Delhi, Ahmedabad and Pune. The firm services clients across India, the US, Europe, Middle East and the Far East. Supported by an assembly of some of the best solicitors who have been in practice with esteemed organizations for over 16 years, ELP has assisted several Fortune 500 companies, industries and associations and the Government of India in wide-ranging matters from legal advisory to key business decisions.

Budget reactions

2009-07-10T17:10:00.000+05:30

Editor,

Pls see the attachment. Kindly publish the same.

Regards

Krishnakumar Ananthasivan

60 A vidya Apartments

Race course,

Coimbatore

09443356193

Re: Thanks Re: Budget 2009

2009-07-10T17:00:00.001+05:30
Dear Murali,
Thank you Sir hope you will use.
Regards,
Aaron
----- Original Message -----
From: "Murali D" <budget2009reactions@gmail.com>
To: <aaron@prhub.com>
Sent: Friday, July 10, 2009 2:37 PM
Subject: Thanks Re: Budget 2009

> Thanks for your quick 'reactions'!
>
> Warm regards
> D. Murali
> http://Budget2009Reactions.blogspot.com/

reaction

2009-07-10T16:48:00.001+05:30

From
T.K. SIVARAMAN
21 Nallathambi Street
TRIPLICANE
CHENNAI 600 005
Mob: ( 0 ) 9444184786
Dear Sirs,
I am a resident of Chennai City.
I am a B.Com.Graduate and a good reader of a couple of business papers everyday. I am interested in Business, Commerce, Industry and Trade.
I am aged 43 and have active habits.
I am an LIC Agent in CHENNAI.
I attach herewith my reaction of the Union Budget 2009 presented last week by the Union Finance Minister, Mr. Pranab Mukherjee.
Please find my photograph also as attached.
Thanking you,
yours faithfully,
T.K. SIVARAMAN

Re: Thanks Re: Quote on Budget from Col. Masand, CEO , Jaslok Hospital & President of Association of Hospitals

2009-07-10T16:12:00.001+05:30
Dear Murali,

Saw the article on your blog with Col. Masand's quote.

It also has my contact information can you please remove the details from the blog and just use his quote.

Also, would like to know if you would able to use the quote in Hindu Business Line.

Thanks Again.

Regards,

Rachita Vaid
Buzz Manager
Euro RSCG PR & Events
M - + 91-9769486752
T- 022-24988856 Ext: 269
E - rachita.vaid@eurorscg.com
W - www.eurorscgindia.com

"2006 Global Agency of The Year" --
"2006 Advertising Network of The Year" --

The views and opinions expressed in this e-mail and any accompanying attachment, are those of the author and do not necessarily represent the views or opinion of Euro RSCG Worldwide. To learn more about Euro RSCG, please visit our website at www.eurorscgindia.com

From: "Murali D" <budget2009reactions@gmail.com>
To: Rachita.Vaid@eurorscg.com
Date: 07/10/2009 03:52 PM
Subject: Thanks Re: Quote on Budget from Col. Masand, CEO , Jaslok Hospital & President of Association of Hospitals

Thanks for your quick 'reactions'! Warm regards D. Muralihttp://Budget2009Reactions.blogspot.com/

Budget Reactions

2009-07-10T16:11:00.001+05:30

Dear Sir,

The budget has suitably identified education as a 'merit good' and put commendable emphasis on it. Full interest subsidy for economically weaker sections to access higher education from recognized institutions in India and the extension of the income-tax deduction in respect of interest on loans for pursuing higher education to cover all fields of study including vocational studies are in the desired direction. Financial access for higher education should move in sync with access to the institutions of proven efficiency, thus enhanced provision for new IITs and NITs is a very good step.

However, more importance was expected in linking education and employment by incentivizing human-capital-intensive service sector to help educational investment breed higher returns. With the rate of educated unemployment in urban areas as high as 16 per cent, much higher than that for those with educational level middle or below, depicted by the latest employment-unemployment survey of NSSO (62^nd round 2005-06), urban unemployment was expected to get special attention in the line of employment creation in rural areas under NREGA. Modernization of Employment Exchange in public private partnership, however, is a good step ahead in this direction.

A higher emphasis on non-excludable service provisions such as police service is definitely an indirect endeavor towards 'social inclusion'. Secondly, enabling self-employed to participate in NPS and to avail tax benefits is a good move towards 'occupational inclusion'. However, as it is recently revealed by a World Bank study that a diverging gap exists between what people perceive as being poor (captured in 'community poverty lines') and what government estimates by official poverty line, a flat provisioning under National Food Security is not fully exhaustive in an 'inclusive' budget.

Regards,

Sahana Roy Chowdhury,

Economist,

Monetary Research Project, ICRA Ltd., Kolkata

and

former Research Fellow of Indian Statistical Institute, Kolkata

AIFI's reaction to Budget 2009-10

2009-07-10T16:00:00.001+05:30

The Editor

Business Line

Dear Sir / Madam

This refers to your appeal for reactions to the

budget, on Page 4 of Business Line of date.

On behalf of Mr Vidyashankar Krishnan, President,

Association of Indian Forging Industry (AIFI), I am

pleased to attach a Press Release on the subject.

Hope, it finds place in your immediate paper &

digital editions.

As desired, a photo of Mr Vidyashankar Krishnan

is attached. He is also Managing Director of

MM Forgings Ltd, Chennai.

Thanking you,

Yours faithfully

for Association of Indian Forging Industry

Suhaas Jogdeo

Co-ordinator

Quote on Budget from Col. Masand, CEO , Jaslok Hospital & President of Association of Hospitals

2009-07-10T15:52:00.001+05:30

Please find below quote from Col. Masand, CEO, Jaslok Hospital,on the healthcare budget.

Also attaching his picture.

Col. Masand, CEO, Jaslok Hospital and President of Association of Hospitals (AoH) says, "We welcome the Budget as a healthcare industry friendly Budget. It is very heartening to know that patients with heart diseases can get cheaper drugs and heart equipment. I am very glad that the customs duty on life saving drugs has also been reduced. We always have many expectations from the Budget and we crave for more, but with this Budget we are content and grateful to the Ministry."

Regards,

Rachita Vaid
Buzz Manager
Euro RSCG PR & Events
M - + 91-9769486752
T- 022-24988856 Ext: 269
E - rachita.vaid@eurorscg.com
W - www.eurorscgindia.com

"2006 Global Agency of The Year" --
"2006 Advertising Network of The Year" --

The views and opinions expressed in this e-mail and any accompanying attachment, are those of the author and do not necessarily represent the views or opinion of Euro RSCG Worldwide. To learn more about Euro RSCG, please visit our website at www.eurorscgindia.com

Tourism ignored

2009-07-10T15:06:00.000+05:30

Sir,

             One key sector that the F.M. has forgotten or ignored

is tourism. He has not made any allocation for tourism promotion

including health tourism.Tourism, apart from providing jobs for

thousands, also helps to earn foreign exchange.

             In the era of global slow down, job losses are a worrying

situation. The FM has not taken any measure to rehabilitate

these unemployed youth or provided anything for unemployment

doles.

           Defence expenditure is a sacred cow which no political

party or MP dares to question. Wasteful expenditure in the

defence sector such as canteen supplies which tie up funds and

personnel could have been stopped.

           And the FM lost Rs.10000 crore by his act of withdrawing

FBT. Who is its beneficiary? Not the suffering India. It benefits

the Shinig India.

Yours truly

S. RAGHUNATHA PRABHU

STATE BANK OF TRAVANCORE

PUNNAPRA-ALAPPUZHA-688004

Tourism ignored

2009-07-10T15:04:00.000+05:30

Sir,

             One key sector that the F.M. has forgotten or ignored

is tourism. He has not made any allocation for tourism promotion

including health tourism.Tourism, apart from providing jobs for

thousands, also helps to earn foreign exchange.

             In the era of global slow down, job losses are a worrying

situation. The FM has not taken any measure to rehabilitate

these unemployed youth or provided anything for unemployment

doles.

           Defence expenditure is a sacred cow which no political

party or MP dares to question. Wasteful expenditure in the

defence sector such as canteen supplies which tie up funds and

personnel could have been stopped.

           And the FM lost Rs.10000 crore by his act of withdrawing

FBT. Who is its beneficiary? Not the suffering India. It benefits

the Shinig India.

Yours truly

S. RAGHUNATHA PRABHU

STATE BANK OF TRAVANCORE

PUNNAPRA-ALAPPUZHA-688004

PROFILE & BUDGET REACTIONS & PHOTO ENCLOSED

2009-07-10T14:42:00.000+05:30

Dear Sir,

Find in enclosed the Profile, Budget reaction & photograph.

Thanking you.

N. SRINIVASAN

Budget 2009

2009-07-10T14:39:00.001+05:30

Dear Sir/Madam,

I am Aaron Samuel from PRHUB, Chennai and I have attached a document on the reactions to the budget By Ms. P. Mythili, CFO, Amtex Systems Pvt. Ltd. Please have a look at it.

Regards,

Aaron

Customised Communication Solutions Aaron Samuel Rajendran M, Asst. Account Executive
Mobile : +91 9843920961

www.prhub.com

PRHUB Integrated Marketing Communication Pvt. Ltd,
New No.432/8, Old No.609/3G, No.609, Anna salai, Chennai-600006, Telefax +91-44-64547284, 42317333.

This electronic message transmission contains information from PRHUB & is confidential or privileged. The information is intended to be for the use of the individual or entity named above. If you are not the intended recipient, beware that any disclosure, copy distribution or use of the contents of this information is prohibited. If you have received the electronic transmission in error please notify us immediately.

Budget 2009

2009-07-10T14:37:00.001+05:30

Dear Sir/Madam,

I am Aaron Samuel from PRHUB, Chennai and I have attached a document on the reactions to the budget By Ms. P. Mythili, CFO, Amtex Systems Pvt. Ltd. Please have a look at it.

Regards,

Aaron

Customised Communication Solutions Aaron Samuel Rajendran M, Asst. Account Executive
Mobile : +91 9843920961

www.prhub.com

PRHUB Integrated Marketing Communication Pvt. Ltd,
New No.432/8, Old No.609/3G, No.609, Anna salai, Chennai-600006, Telefax +91-44-64547284, 42317333.

This electronic message transmission contains information from PRHUB & is confidential or privileged. The information is intended to be for the use of the individual or entity named above. If you are not the intended recipient, beware that any disclosure, copy distribution or use of the contents of this information is prohibited. If you have received the electronic transmission in error please notify us immediately.

Mr. Venkatesh Sankaran (LANXESS India Pvt. Ltd)'s reaction to budget 2009

2009-07-10T14:10:00.000+05:30

Good Afternoon,

Please find below the opinion of Mr. Venkatesh Sankaran., Director and Chief Financial Officer, LANXESS India Private Limited on the Union Budget 2009. Also attached is a picture of Mr. Sankaran.

“The abolishing of the commodities transaction tax and the Fringe benefit tax was a welcome measure which has reduced the burden on industry. The budget has laid a strong emphasis on infrastructure, much needed in India today. The scope of provisions relating to weighted deduction of 150% on expenditure incurred on in-house R&D to all manufacturing businesses including those in the chemical space being extended is a good measure by the government as it signifies that the government understands the importance of innovation in manufacturing.

However, keeping in mind the allocation of funds toward the development of infrastructure, creation of employment and the eradication of poverty, it is expected that the reforms for business would not be completely positive. The maintenance of status quo in corporate taxation was disappointing, as they still continue paying close to 33.9%. The budgeted fiscal deficit touching 6.8% and no roadmap being shown to bring down the deficit over a period is a serious concern area.

Important aspects like FDI, oil and petroleum pricing which are likely to directly affect industry have not really been touched upon leaving a slight dissatisfaction with the budget on the whole. The upward revision in the minimum alternate tax (MAT) from 10 percent to 15 percent of book profits was cited as a move to bring about greater equity but is still a blow to the corporate world.

Overall it is hard to really say how the budget fares as it is a basic follow up of the interim budget already declared earlier this year.”

I hope you will be able to carry the same in your column titled ‘Budget Line’.

For any further information/query please feel free to contact me at the below mentioned numbers.

Warm Regards,

Shimoni Shah

Madison Public Relations

H. C. Dinshaw Building, 3rd Floor

16 Horniman Circle, Fort

Mumbai 400 023, India.

Board : + 91 22 6654 8341-3 Extn – 142

Mobile: + 91 98207 90567

Fax: + 91 22 6654 8340

Madison PR is part of Madison World which also has specialist units in Advertising, Media, Outdoor, Rural, Retail Design, Shopper Marketing, Entertainment and BTL; employing over 400 communications professionals across 7 cities in India. For information on Madison World or any of the units, log onto www.madisonindia.com

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.

Mr. Joseph Massey, MD & CEO, MCX Stock Exchange - Post-Budget Expectations

2009-07-10T13:24:00.001+05:30

Please find below the Post Budget reaction of Mr. Joseph Massey, MD & CEO, MCX Stock Exchange.

"The Union Budget proposal for 2009-10 has addressed the key issues to lay a strong growth foundation for India which will go a long way in creating a balanced growth among various sectors, particularly stimulating growth in agricultural, rural development and socio-economic sectors. This in turn will go a long way in overall development including creating world class organized financial markets for equity, bond, currency and commodity. I would rate the Budget proposal at 8+ on a scale of 10".

Also find attached his profile and photograph for your reference.

Do let us know if you require any further information.

Warm regards,

Ujjawal Punmiya

Adfactors PR Pvt Ltd

Shalaka, Maharshi Karve Marg, Cooperage,

Mumbai 400021.

Tel: +91 22 2281 3565

Fax: +91 22 2281 3569

Mob: +91 9619130947

Email: ujjawal.punmiya@adfactorspr.com

           ujjawalpunmiyaa@gmail.com

The information in this email is confidential and is intended solely for the addressee(s). Access to this email by anyone else is unauthorized. If you are not an intended recipient, you must not read, use or disseminate the information contained in this email.

Mr.Rathish Babu - CEO, Access Atlantech Edutainment (I) Ltd., SAE College

2009-07-10T13:16:00.000+05:30

Please find below the profile and the post budget quote from Mr.Rathish Babu - CEO, Access Atlantech Edutainment (I) Ltd., SAE College.

Also attached is his picture for reference.

Profile:

Rathish Babu, an engineer by qualification and is a successful entrepreneur by choice. A marketing and Sales professional he has worked with majors as HCL, HCL- HP . In this stint he handled the southern region for HCL handling CAD CAM solutions and has worked on projects with Naval Physical & Oceanography Lab, Kochi, VSSC, Thiruvananthapuram, IIT, Chennai, DRDO, Cochin Shipyard and KSEB to name a few.

He started SAE (School of Audio Engineering) College in India through a technology transfer from SAE, AUSTRALIA and has been running the college expanding into 5 campuses at Chennai (as HQ), Mumbai, Bangalore, Delhi and Dibrugarh in Assam. The college holds significance as being the first private, higher education provider for the Media and Entertainment industry in the country. Technology subjects as diverse as Sound Engineering, Digital Film Making, Animation & VFX, Games Design, Development and Programming are offered.

The college has firsts to its credit as being the first UGC approved University affiliated college (through its national affiliation with Dibrugarh University (estd 1965, Assam), the only media college to sign a PPP with the Assam Government to build and operate the centre for media studies within the Dibrugarh University campus to cater to the North East market, the exclusive provider of Media and Entertainment education through a PPP with IGNOU to cover the complete gamut of centres in India.

He has been selected as the Top 100 International Techno Sales Managers by DEC, USA and also represents SAE college on the academic board of Dibrugarh University, IGNOU and SAE International for Film Studies.

Budget Reaction:

The finance minister's speech and the first cut highlighting of the budget with relevance to students and education does throw up a huge opportunity for professional and vocational studies students alike. It will be right to remark that this is for the first time a budget has clearly outlined education loan aid for vocational studies giving it an even keel with professional studies and also a clear pointer to financial institutions that vocational streams are going to be an indicator of India's growth in the digital evolution market as also lifestyle and health.

Though we had expected the honorable minister to recognize independent filmmakers as entities, which are bankable for loans, it has unfortunately been missed out thereby keeping the content story out. However a move to cater to tax exemption for interest on higher education loans will be an ice-breaker for parents as well as banks. This has really given higher education a big break and we are sure the next budget will include independent film makers to be a considered entity.

The other great opportunity for higher education as a whole is to have access to funding which inturn helps the education sector with better cash flows.

Entertainment industry had much more expectation from the budget and one major entity missed out was internet penetration and access for rural india to this medium at cheaper costs. While sops to electronic and hardware sector provides wares at pay to use basis would have been a great boon to the industry. Am sure if the ministry can enable this be done through micro financed route and the dynamics of projections given by pundits will go into oblivion and will be a sought after property by the honorable minister for the next budget.

Regards,
Diana George
Associate Image Manager
Perfect Relations, Chennai
Mob: 99621-28882

Mr. K. Ravishankar, CEO, Akshaya Homes

2009-07-10T13:15:00.000+05:30

Please find below the profile and the post budget quote from Mr. K. Ravishankar, CEO, Akshaya Homes

Also attached is his picture for reference.

Profile:

Name:                                 K.Ravishankar

Date of Birth:                            June 16, 1955

Education:                              B.Com (Hons), ACA

                                                         Article ship with A.F.Ferguson & Co.

Mr. K. Ravishankar brings along with him 3 decades of corporate experience largely in the domain of finance and corporate strategy. He has been associated with various corporate conglomerates like Tata Motors, ITC Ltd. and BPL Communications in Senior Manager Capacity, including board position. Currently as CEO of Akshaya Pvt Ltd. leads 140 member strong team in establishing and benchmarking standards in Real Estate Sector by placing Akshaya in the list of top real estate brand in India.

Budget Reaction:

This budget has been quite a dampener. Perhaps the government wants to built it over the next 5 years and it is not possible to do everything at one go.

Real estate continues to not attract the attention of the FM. It is a huge disappointment. This year was a good opportunity not only to give sufficient impetus to the developers but also greater incentive to the customers. Real estate needs to be looked at as infrastructure development.

The budget proposals signal a huge boost for infrastructure spending and with development of roads and highways, development of dwelling units would go a long way in decongesting the overcrowded cities and towns. Taxes in various forms and prolonged processes in obtaining clearances take away substantial portion of the costs making it unaffordable for the customers.

Lop sided infrastructure development will not help the economy grow. It has to be balanced. With such a large population in India the demand for affordable housing is inevitable. The government has to take some bold steps and bring in reforms to enable the real estate sector produce housing at affordable costs.

Regards,
Diana George
Associate Image Manager
Perfect Relations, Chennai
Mob: 99621-28882

Budget quote- Mr. Vijay Bobba, CEO i-mint

2009-07-10T13:00:00.000+05:30

Hi,

Kindly find below the post budget reaction of Mr. Vijay Bobba, CEO, i-mint- India’s largest coalition loyalty program.

Vijay quote

“The government has taken specific measures to increase disposable incomes. With a more friendly tax structure, individuals will have more cash in hand which may lead to increase spending and hence augment demand. Exemptions and reductions on excise and service tax on specific areas will also lead to additional margins that can be passed on to the end consumer. Also, the budget aims to rationalise taxation policies with the introduction of the GST next year. However, from a retail perspective, FDI was a major issue which has not been discussed.”

About i-mint

i-mint was launched on 1^st August 2006 as India’s first Multi Partner Rewards Program wherein Airtel, HPCL, ICICI Bank, Air India, Bookmyshow, Cinemax, Monginis, IFB, Ferns & Petals, Planet Fashion and MakeMyTrip.com joined hands to create a single rewards platform powered by sophisticated technology.

Unlike a single brand loyalty program, the i-mint card does not restrict its members from shopping at a particular place or purchase a particular product. i-mint points can be earned at any of the partner or merchant’s outlets across 29 cities in India. The points accumulated from across partners can be redeemed for rewards such as electronics, holidays, jewelry, gift vouchers etc.

i-mint gives its members an opportunity to earn i-mint points rapidly at the participating i-mint partners and merchants leading to faster redemption of rewards. Customers can locate i-mint affiliated merchants in their city:

Through the merchant locator on the i-mint website (www.imintpoints.com)

Logging on to http://imint.zook.in on their mobile browser

Sending an SMS with imint <location> or <category> or <merchant name> to 57575665

Currently i-mint

Has a consumer base of over 12 million members nationally.

Is available in 29 cities across India

Has a merchant base of over 3000 across several cities

Is the only loyalty program to penetrate Business-to-Employee sector by launching co-branded cards for employees of companies like Infosys

Has also, launched an e-referral website in partnership with Global Talent Metrics called STAR REFERRAL.

Warm Regards,

Anuja Shah

Blue Lotus Communications Pvt. Ltd.

4/33 Kamal Mansion,

4th Floor, Haji Niyaz Ahmed Azmi Marg,

Arthur Bunder Road, Colaba,

Mumbai 400 005.

Tel # 66522890-899 (D) # 66522820

(M) # 98206 17685

Email: anuja@bluelotuspr.com

Ignote the previous mail : Yash Birla group post budget quotes

2009-07-10T12:59:00.000+05:30

Hi,

Kindly find below Mr. Yash Birla, Chairman, The Yash Birla Group post budget reaction.

BUDGET REACTIONS FROM MR. YASH BIRLA, CHAIRMAN, THE YASH BIRLA GROUP

The Budget 2009-10 is all about getting the India Growth story back on track. This is targeted to be achieved through the short and long term measures that have been introduced. The unique aspect of focus on efficacy of delivery mechanisms for various measures is heartening.

Due importance to infrastructure has been rightfully given as well as a boost to exports which will stimulate the sector that has been languishing.

The disinvestment announcement is welcome but the targeted amount could have been higher which would have freed up resources to invest in the various social schemes that have been announced.

This is in short a budget that aims to jumpstart a economy that has slowed down which is good but it could have been more aggressive.

For our Group, the positive measures announced for Education, Textiles, IT, Exports are welcome and would give a fillip to our group companies in this sphere.

Kindly find below post budget quote of Mr. M. S. Arora, CEO, Zenith Birla, flagship company of Yash Birla Group.

Mr. M.S. ARORA, CEO, ZENITH BIRLA: It is good to note that the Excise duty rates on Steel related products have not been increased from present 8.24% it will help in demand to grow in the country under these trying times.

However no change in the policy, on Restriction to be removed on Flat Steel import is a negative aspect as this will create & increase the imbalance in the prices of steel in the domestic market.

Removal of FBT is a welcome step which will help eliminating the cumbersome procedure to keep a track of figures under this head.

No initiative to boost Exports to steel product related industries is a cause of worry and hope that the forthcoming Exim policy will take steps to help the declining figures of exports.

Kindly find below Mr. S.C Agarwal’s, CEO, Indian Tools Manufacturing, part of Birla auto and engineering group post –budget reactions on Auto sector.

MR. S.C. AGARWAL, CEO, ITM : The Budget appears to be neutral to Cutting Tool Industry. Due to increases in Planned Expenditure, allocation for rural employment and additional disposable income on account of individual Income Tax benefit, consumption level can be sustained in the short term. Private capital investment in the Industry may not get stimulated soon until Engineering Goods Export and Commercial Vehicle Sales improve.

Please find below Mr. Raju Todi’s quote for post budget

MR. RAJU TODI, CEO, BIRLA ELECTRICALS:

Major Implication of Budget on BEL / BIPL

1) No change in Excise, Custom duty - company not affected.

2) MAT increased from 10 - 15% and maximum period for availing credit extended from 7 years to 10 years - No impact on Compay.

3) FBT abolished - will save Rs.2.00 lacs approx. in both the company.

Beside the above, individuals I. Tax exemption limit raised / surcharge abolished.

Kindly find below Mr. Kalyan Bhattacharya, President& CEO, Birla Power Solutions Ltd. post budget quote on Power.

Response to Budget 2009-10

The increased budget allocation on social development schemes with focus on health and education for the rural population is indeed a right step for the ‘inclusive growth’ highlighted in the pre-budget survey.

The areas which will allow BPSL to increase its contribution towards national development are:

National Rural Health Mission

Mission in Education through ICT’

Construction of Roads/Infrastructure

Public Delivery Services

The increased allocation of funds for Agricultural Development and Irrigation, is a welcome move, though there is no ‘special incentive’ for companies like BPSL which is producing Power Tillers and fuel efficient Pumps for the marginal farmers in less developed states in the East and Northeast.

The budget mentions about the Power Reform Program. However, it is unclear about the incentives available for private sector to join the PPP for investment in power generation and expansion of the distribution system in the rural areas.

The budget is not encouraging for the manufacturing sector. No new initiatives are visible and there is hardly any incentive in terms of tax and duty benefits for the organized sector in the engineering industry.

Overall, the budget is an average one and does not fulfill the expectation of a key driver for industrial development.

Warm Regards,

Anuja Shah

Blue Lotus Communications Pvt. Ltd.

4/33 Kamal Mansion,

4th Floor, Haji Niyaz Ahmed Azmi Marg,

Arthur Bunder Road, Colaba,

Mumbai 400 005.

Tel # 66522890-899 (D) # 66522820

(M) # 98206 17685

Email: anuja@bluelotuspr.com

Budget Reaction Article - Mr. Devesh Kumar

2009-07-10T12:50:00.001+05:30

Hi,

I read your column on page 4 of the Hindu Business Line regarding the budget reactions of individuals. Please find attached an article by Mr. Devesh Kumar, Managing Director at Centrum Broking Pvt. Ltd. He has penned down his reactions on the budget especially for this column. Also please find attached his photograph for the same.

I request you to kindly publish it in the above column.

Let me know if I can help you out with anything else.

Regards,

Ajay Aswani

Madison Public Relations

3rd Floor, H.C. Dinshaw Building,

16, Horniman Circle, Fort

Mumbai 400 023, India.

Board: + 91 22 6654 8341-3 Extn. 154

Direct: +91 22 6610 3496

Mobile: +91 9820415593

Fax: + 91 22 6654 8340

Madison PR is part of Madison World which also has specialist units in Advertising, Media, Outdoor, Rural, Retail Design, Shopper Marketing, Entertainment and BTL; employing over 400 communications professionals across 7 cities in India. For information on Madison World or any of the units, log onto www.madisonindia.com.

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 Reactions

Doctors’ protest against BRMS is unwarranted-letter

Reminder: K.Vittal Shetty invited you to join Facebook...

Reminder about your invitation from Gopal Pai M

LinkedIn

Reminder about your invitation from Gopal Pai M

LinkedIn

LDF Govt’s Islamic bank -letter

Re : Thanks Re: Assalamuaalaikum warahmatullah

Gopal Pai M wants to stay in touch on LinkedIn

LinkedIn

Visit my Netlog profile

Take a look at my photos on Facebook

Take a look at my photos on Facebook

High prices of essential commodities-letter

Happy Diwali

K VITTAL SHETTY sends a champagne

spirituality.com - from a friend

New message

khou.com article from Kadi Ouedraogo Donation

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

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

R VASUDEVAN (044- 42148569)

K VITTAL SHETTY sends a champagne

Opinion for Budget Line

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

Budget Reflections

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

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

My views on Budget

Tax on Income from Dividend

scan file

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

Budget Reaction - Alroy Lobo, Kotak AMC

Budget 2009

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

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

Post Budget Reaction for Information Technology Industry

Thank you !

Budget 2009

Budget Reactions

Mobilize Resources

BUDGET LINE

Re: Thanks Re: Budget 2009 Reaction

Re: Thanks Re: Budget 2009 Reaction

Budget 2009 Reaction

budget 2009

BUDGET LINE

Salaried Class are more taxed now

Budget 2009-10

Budget 2009.

Budget 2009.

Budget Line: Dr Raghupati Singhania on the budget

Fw:

Fwd: Budget with Long Range vision for Growth With Inclusiveness

Missed Opportunity to raise resources to reduce fiscal deficit

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

Budget Reactions - IT provisions are welcome

Discrimination between men and women

Increase non-tax revenue

Interest on Bank Deposits

FW: Budget reaction piece - outsourcing industry

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

Budget reactions

Re: Thanks Re: Budget 2009

reaction

Re: Thanks Re: Quote on Budget from Col. Masand, CEO , Jaslok Hospital & President of Association of Hospitals

Budget Reactions

AIFI's reaction to Budget 2009-10

Quote on Budget from Col. Masand, CEO , Jaslok Hospital & President of Association of Hospitals

Tourism ignored

Tourism ignored

PROFILE & BUDGET REACTIONS & PHOTO ENCLOSED

Budget 2009

Budget 2009

Mr. Venkatesh Sankaran (LANXESS India Pvt. Ltd)'s reaction to budget 2009

Mr. Joseph Massey, MD & CEO, MCX Stock Exchange - Post-Budget Expectations

Mr.Rathish Babu - CEO, Access Atlantech Edutainment (I) Ltd., SAE College

Mr. K. Ravishankar, CEO, Akshaya Homes

Budget quote- Mr. Vijay Bobba, CEO i-mint