January | 2013 | wealthymatters

Some Questions

January 5, 2013 2 Comments

wealthymatters

Did you happen to catch the headlines of today’s ET ?Else here is the link.Its had me pretty steamed up the whole day.

Its no secret that the government is in a financial mess of its own making.Its also true that the general elections are within sighting distance and the government feels the need to be seen to be doing something. Addressing vote banks is obviously a priority.But just how far should a government be allowed to go in its desire to serve itself?

My questions are simply these:

1.)How many of our rich will hang around to be taxed?How many will migrate or otherwise arrange their affairs so as not to be liable for higher tax payouts?At a time when many industrialists prefer to invest abroad since setting up business in India is so cumbersome do we want to drive out more businesses from India What about the lost opportunity to tax these enterprises,if only at marginal rates?What about the lost opportunities for employment of our own people? Read more of this post

Filed under Tidbits Tagged with Arvind Panagariya, gold bubble, Gujarat Model, Higher taxes on the rich, India’s Tryst With Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges., inheritance tax, Jagdish Bhagwati, Kerala Model, postady, property bubble, Rajiv Gandhi Equity Savings Scheme, redistributing wealth, tax avoidance, tax exiles, tax on dividends

Urjit Patel on Inflation

January 4, 2013 Leave a comment

wealthymatters.com

Here are some bon mots from our new Dy. Governor of the RBI:

“Assertions that imported inflation and external developments — like global excess liquidity — lie at the root of price developments in India ring hollow.”

“What is clear is that persistence of elevated inflation is agreeable to some policymakers.The authorities want to take credit for India’s growth performance but stay blameless on the price front — a case of heads I win, tails you lose!”

“This is an astonishing series of nihilistic statements — unassisted by evidence or even a hint of scientific thoroughness — from the central bank head pleading either hopelessness on account of India being a large and diverse federal entity, or, a form of muddled eclecticism.”

“The profligacy of the central government has its primary driver in populist spending policies initiated in early 2008 by the ruling coalition leading up to national elections in May 2009.”

“Three stimulus packages (including a reduction in indirect tax rates) starting in late 2008 to counter the global recessionary head winds only accentuated matters.”

“If gold prices stay elevated or increase going forward, and wealth effects emanating from this externally generated feature are quantitatively important, than monetary policy has that much more work to do to tame inflation.”

These are heartening words indeed for those of us concerned about the detrimental effects of our persistently high inflation even as growth prospects have muted.

Filed under Tidbits Tagged with Inflation, postaday, Urjit Patel

Birla Family Tree

January 3, 2013 3 Comments

wealthymatters.com

Filed under Tidbits Tagged with B K Birla, Basant Kumar Birla, Birla Family Tree, Jayshree Mohta, Jyotsana Poddar, K K Birla, Krishna Kumar Birla, Kumar Mangalam Birla, postaday, Shobhana Bhartia, The Birla Family, The Birlas, Yashovardhan Birla

Billionaire Matrimonial Alliances

January 3, 2013 4 Comments

And should the Big Fat Indian Wedding be your thing,try this blog-Link

Filed under Tidbits Tagged with Abhey Oswal, Aloo Mistry, Amit Bhatia, Amit Kalyani, Anil Agarwal, Aniruddh Dhoot, Apoorva Patni, Arun Bharatram, Arvind Poddar of Siyaram Silk Mills, Ashni Biyani, Ashwin Dani, Baba Kalyani, Bhadrashyam Kotari, billionaire shaadi, billionaire weddings, Cyril Shroff, Dattaraj Salgaokar, Deeksha Bharatram, Dhirubhai Ambani, Dipti Salgaokar, Gaurav Burman, Gautam Adani, Gurunath Meiyappan of AVM, Harsh Goenka, Hital Meswani, Jalaj Dani, Karan Adani, Kishore Biyani, KK Birla, KK Modi Chairman Modi Enterprises, Krishna Shete, Kumar Mangalam Birla, Kushagra Bajaj, Lalit Modi, LN Mittal, Malika Srinivasan, Manmohan Shetty, Milind Deora, Mukesh Ambani, Murli Deora, N Srinivasan, Narendra Kumar Bajoria, Naveen Jindal, Nayantara Kothari, Nayantara Kothari wedding, Nikhil Meswani, Nina Kothari, Nishant Kanodia, Noel Tata, NR Narayana Murthy, OP Jindal, Pallonji Mistry, Paridhi Shroff, Patni Family, Pooja Poddar, Pooja Shetty, postaday, Prashant Ruia, Radhakrishna Group, Radhika Singhal, Rahul Bajaj, Raju Shete, Ratan Tata, Ravi Ruia, Rishab Shroff, Rohan Murthy, Rupa Srinivasan, Saajan Jindal, Salgaocar Family, Saloni Surana, Sandeep Jajodia, Sanjay Singhal Bhushan Power And Steel, Saurabh Dhoot, Seema Jajodia, Shalu Jindal, Shamit Bhartia, Shishir Bajaj, Shobhana Bhartia chairperson of Hindustan Times, Shyam Bhartia CMD Jubilant Group, Smiti Ruia, Surana Jewellers, Tanvi Jindal, Vanisha Mittal, Vasudha Bajoria, Vasundhara Patni, Vasvadatta Bajaj, Vaux le Vicomte, VC Burman, Venu Srinivasan, Venugopal Dhoot, Viraj Didwania, Vita Meswani

Narayana Murthy On Ratan Tata

January 3, 2013 Leave a comment

What are your fondest memories from your interaction with Tata?

” When we inaugurated our management council room, which I believe is the most advanced council room with perhaps the finest technology in Asia, I had a discussion with my colleagues and we decided to name it after Jamsetji Tata. Jamsetji Tata, as you know, was an extraordinary businessman. He donated one-third of his wealth to start the Indian Institute of Science.

So, when we decided to name the management council room, I decided to invite Ratan to inaugurate that. He was a little bit surprised that we were naming our number one conference room after Jamsetji Tata. I told him, ‘Jamsetji is a beacon and an example on how businesses should be conducted.’ He came and inaugurated it, he had lunch with us, interacted with youngsters. And every one of my colleagues was so impressed with his grace, courtesy and humility.”