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July 18, 2009

India – 127th country to legalize GAY Sex…? GAY HO…!

I cannot criticize the judges for the judgment but argument might sound hilarious….Just a parable…If this trend of judgment follows in criminal cases, a time may come when crimes might also become fundamental right of criminals.

* Homosexuality is no longer a crime in India. India stopped living in 1800s a few days ago
* If A R Rahman were to compose a song today it’d be: Gay ho! Gay ho! Gay ho!
* Gay sex now legal in India. Slumdog Millionaire sequel could be surprising
* There is a huge opportunity for a gay dating website
* What a stupid judgment. Is this India?
* The world’s 2nd most populo-us country has taken a huge 1st step towards LGBT equality!
* It’ll not be too far when men will also be targeted for rapes
* Given the alarming & growing imbalance in India’s gender ratio, the decision to legalize homosexuality couldn’t have come at a better time
* Waiting for long overdue revelations from friends now that homosexuality is legalized in India

In a victory for gay rights activists, the Delhi High Court legalized homosexual acts among consenting adults holding that the 149-year-old law making it a criminal offence is violative of fundamental rights & not punishable.

Everyone has the right to live the way they want as long as it doesn't bother or infringe in the rights & freedom of others around them. & Legalizing it has to be done by keeping these factors in mind.

When ever people talk with logic & fact & figures, we have tendency to take shelters of Our tradition & culture. We own Indian had culture of Sati & child marriage & people during that era used to support saying it as Indian Culture. Why do we keep quite when we see a father rapping a daughter in same Indian So called Rich culture society Or a man just divorce by saying few word. Why we don’t raise our strength to such matter. Please, believe that what you & or anybody feel attracted to opposite sex may not be happening to others. Its simple fact & proved by science. It’s all over world & in all religious community. Have you ever thought why you get attracted to a Girl & not man? Its not you but because of your Hormonal attraction. Nobody teach the sex to a child Or animal, It come on its own Its natural & few of us have problem attracted to opp. sex , why do you advocate of so called religious policing. They are educated enough to understand.

Anti-Gay supporters, please, give a break to these people. What harm has this decision caused you?

Is this decriminalization going to affect you at all? & don’t talk shit about Indian values, customs & morals. How many of these do you follow yourself. Less than 1%, I say. So do not try to be such sick as to not let them be a part of society. Even the kamasutra, the oldest sex treatise in the world, recognized homosexuals. What the hell are you talking about? So let’s shut up & close this matter.

Homosexuality is not a disease which needs any kind of rehabilitation or physical treatment...we have no right to exercise brutal force on 2 consenting individuals...they can take of their consequences...why do v have to interfere? if we are not comfortable with gay sex, then so be it-just stay away...but we have no right to influence somebody else's personal decision…it is up to them to stay protected...whop are we to bother them & interfere into their personal lives??

Its high time we as democratic Indians be more open minded....BY THE WAY I'M STRAIGHT (HETERO), but I support gay rights….

July 16, 2009

Budget 2009 - HIGHLIGHTS

Govt plans to bring back economy to high growth of 9%
* GDP growth dipped to 6.7% in FY'09
* FM to make pre-budget talks with state FMs annual affair
* Fiscal deficit up from 2.7% to 6.8% of GDP
* Return to fiscal prudence at the earliest
* 'Aam admi'(Common man) is focus of all programmes and schemes
* IT. Excemption limit raised; Rs 15,000 for Sr.citizens
* Limit raised by Rs 10,000 for tax payers, including women
* 10% surcharge on personal income tax scrapped
* Fringe Benefit Tax abolished
* No change in corporate tax
* Defence gets Rs 1,41,703 cr, up 34%
* Total fiscal stimulus in 2008-09 amounts to Rs 1,86,000 cr
* IIFCL to evolve mechanism for increased funding of infra
* IIFCL to re-finance commercial bank loans up to 60 per cent in critical projects through PPP to tune of Rs 1,00,000 cr
* Allocations for highways being stepped up by 23 per cent
* Funds for housing, amenities for urban poor up Rs 3,973 cr
* Funds for JN Urban Renewal Mission up 87% to Rs 12,887 cr
* Assistance for storm-water drainage project up by Rs 300 cr
* Farm credit target up at Rs 3,25,000 cr from Rs 2,87,000 cr
* Interest Rates incentive to farmers to repay loans on time
* Additional Rs 1,000 crore for accelerated irrigation scheme
* Export Credit Guarantee scheme extended till March 2010
* 2% interest subvention (IS) scheme extended till March 2010
* IS scheme to cover 7 job-oriented sectors, including textile, handicrafts and handlooms.
* Commodity Transaction Tax abolished
* New pension system trust exempted from STT; DDT
* Minimum Alternate Tax hiked to 15% from 10%
* Tax holiday on petro sector extended to natural gas
* 100% tax deduction on political donation
* Stimulus for print media for another six months
* Fertiliser subsidy to be nutrient-based, not price
* Expert Grp to form viable pricing for imported petro goods
* Banks and insurance firms to remain in public sector
* Rs 100 cr one-time grant to expand banks in unbanked areas
* Govt committed to provide Rs 100 a day as wages under NREGA
* Allocation of Rs 39,100 cr to be made for NREGA
* NREGA coverage increased to 4.74 crore households in FY'09
* Work National Food Security scheme has begun
* Allocation for Bharat Nirman being raised by 45 per cent
* Rs 2,000 cr rural housing fund under National Housing Bank
* Mission for female literacy with focus on minorities, SC/ST
* 50% of all rural women to be brought into SHG programmes
* Full interest subsidy for students in select institutions
* Five lakh students to benefit
* Modernisation of national exployment exchanges
* Action for social security to unorganised sector workers
* New pension benefits for 12 lakh jawans and JCOs from July
* One lakh dwelling units for paramilitary forces personnel
* Unique Identification Card to citizens in 12-18 months
* Provision of Rs 120 crore for UIC project
* Rs 2,113 crore allocated for IITs and new IITs
* Rs 3472 cr for Commonwealth Games from Rs 2112 cr
* Customs, excise and service tax base rates unchanged
* For Indira Awas Yojana, allocation increased 63%
* IT returns to be made simpler
* 8 missions being launched under Plan on climate change
* Allocation for market development assistance scheme up 148%
* Allocation for Rural Health Mission raised by Rs 257 cr above interim budget
* Rs 500 cr for rehabilitation of Sri Lankan Tamils
* Rs 1,000 cr for infrastructure in cyclone-hit area in WB
* Total expenditure crosses Rs 10 lakh cr for first time
* Share of direct taxes in revenue increased to 56% in FY'09

Demystifying The Budget 2009

Before analyzing lets see who PRANAB MUKERJEE IS….He rose through a series of cabinet posts to become the Finance Minister of India from 1982 to 1984. In 1984, he was rated as the best Finance Minister of the World according to a survey of Euromoney magazine. His term was noted for India not withdrawing the last US$ 1.1 billion instalment of an IMF loan. Dr. Manmohan Singh was serving RBI as Governor during Pranab's term as Finance Minister. He was victimised by a coterie of Rajiv Gandhi by not being included in Rajiv's cabinet after Lok Sabha election held subsequent to Indira Gandhi's assassination. He was pushed out of the Congress party for a brief period, and during this period he formed his own political party Rashtriya Samajwadi Congress, but later merged it with Congress party in 1989 after settlement with Rajiv.[4] His political career revived when P. V. Narasimha Rao chose to appoint him as deputy chairman of the planning commission and subsequently as a union cabinet minister. He served as External Affairs Minister for the first time from 1995 to 1996 in Rao's cabinet. In 1997 he was voted Outstanding Parliamentarian.
Now with above credibility we analyze as follows
Viewed in the backdrop of a challenging external environment & in the context of the new government's mandate of inclusive growth, budget 2009-10 scores reasonably well on all fronts. The finance minister has reiterated the need to put the economy back on the 9% growth trajectory. The finance minister had to do a tough balancing act between the conflicting objectives of accelerating economic growth, carrying the underprivileged sections of society along and fiscal prudence. The highlight of the budget is the continued focus and increased allocation for schemes targeting inclusive growth. While this may put fiscal pressure on the government in the short run, it may create demand and stimulate the economy.

The finance minister has remarked that the government is committed to returning to fiscal responsibility and budget management (FRBM) targets at the earliest and that is reassuring. The markets are disappointed with the higher budget deficit and the lack of policy announcements on FDI. The fiscal deficit is indeed high and the very high interest burden as percentage of GDP is a source of concern, but I am confident that the government will take corrective measures as soon as the global economy stabilizes. Besides, we can expect progress on policy issues in due course of time.

Finance minister may have increased the income-tax exemption limit for senior citizens by Rs 15,000 but the move is unlikely to earn him too many pats on the back. The exemption limit will now be Rs 240,000. It is not enough, "The money saved is so insignificant that it will make very little difference to our lives." The complaints are not surprising since the amount of tax paid will be only Rs 1,545 less than what they shelled out in 2008-09. Apart from this, all categories of taxpayers stand to benefit greatly in case their income is more than Rs 10,00,000, thanks to abolition of 10% surcharge on total tax liability in this budget. The changes in tax rates are more or less along expected lines, except the increase in MAT rate. The announcement of implementing a goods and services tax (GST) from April 1, 2010 is a positive. One of the key issues facing the government is oil subsidies and the need for a market-driven pricing regime for petroleum products. Subsidizing petrol and diesel is unproductive and undesirable. This issue is also likely to be addressed in the near future. For the government, the challenge now is to reduce the fiscal deficit to moderate levels. It also needs to focus a lot more on implementation of policies. As the finance minister said in his Budget speech, the challenge is to reorganize and improve delivery of services to the common man and ensure that the benefits of pro-poor schemes reach the deserving.

More money in the hands of the middle class and rural folk will spur demand for fast-moving consumer goods (FMCG) like soaps, detergents, shampoos and cosmetics in the near term. And they are set to become even more affordable in the long run, if all goes well with the rollout of goods and services tax (GST). There’s a small catch. Dental hygiene became a tad expensive with rise in price of toothbrush due to a duty hike by 4% to 8%. It’s not clear how existing duties would be eventually merged with GST, the FMCG industry will benefit from sops doled out to salaried individuals on the tax front and the rural thrust in the budget. India’s 350 million strong middle-income consumers contribute 40-45% to the revenues of the FMCG sector, pegged at Rs 1,20,000 crore. “Removal of surcharge on income tax itself will increase an individual’s post-tax salary by 5%. This is good enough for the FMCG sector. “Increased spending on farmers and the poor will further fuel demand growth in rural India.“GST will reduce evasion of taxes and will provide supply chain benefits to the industry which will further lead to cost saving.” However, product prices will be determined by the level at which GST is introduced.

IT is facing tough times, with a decline in global outsourcing orders and growing protectionist cries in developed markets. And, the IT industry desperately needed some solace. And that’s what India’s international showpiece sector got from the budget. The extension of tax holiday under sections 10A and 10B of the Income Tax Act for one more year benefits IT units that would not have completed 10 years of operation by then. More than 70% of the industry would benefit from this, especially a lot of smaller companies. The older companies will have more of their units completing 10 years by next year, Many grey hair estimate that the effective tax rate on the company will go up to 24-25% next year, from 18-20% now, because of many of their units going out of the purview of sections 10A/10B. There are two other advantages. Packaged software is no more a product, but a service. It will not attract VAT but service tax. The other is the move to set up an alternative dispute resolution mechanism for resolution of transfer pricing disputes. “Formulation of ‘safe harbor’ rules to reduce the impact of judgmental errors in determining transfer prices will eliminate confusion, complexity and disputes It simplifies the process of doing business, with its moves on transfer pricing, packaged software and FBT,”

India Inc got a jolt in the form of a hike in rates for Minimum Alternate Tax (MAT). Companies paying MAT—instead of the regular corporate tax—could soon see a higher outgo under this head as the finance minister hiked rates from the earlier 10% to 15% After including the different surcharges, the effective rate would now be nearly 17%.MAT is the tax that a corporate compulsorily pays in case its corporate tax outgo—after accounting for all the exemptions—is below a threshold limit. In taxman’s parlance it is the tax that a corporate pays on its ‘book profit’, which is different from its profit in ‘the profit & loss’ account. In India, MAT was introduced about 15 years ago after the government found that despite substantial profits, a large number of corporates were not paying any tax. Often MAT is criticized as an antithesis to any concession or exemption. Even if there is some justification for MAT, in a slowing economy it is more important for a company to have immediate cash flow, international tax and corporate law expert. “When more and more developed countries are reducing their tax rates to a level below 30%, a MAT rate of 15% definitely looks higher,’’.In India, a number of IT and infrastructure companies pay MAT instead of the regular corporate tax. “These (companies paying MAT now) may end up paying a higher tax now,’’. “There’s nothing much one can do about it except absorb it,’’ A case of grin and bear it.