Modi government moves to ease business rules, weed out archaic laws

[bolo121]

Bolo,

No point in viewing company's as evil entities. In Sir Humphrey's words, they are not moral or immoral; they are amoral. If there is a way to suck profit, they will do it. Of course, many India promoters are also personally corrupt, which is to say that they siphon money off their publicly listed companies.

I think the Indian case is different. Our companies are corporate only in name.
In practice they are fronts for particular families, who in the main can easily justify the label of evil cnuts.
What is needed is to reduce the obstacles for startups and small businesses, plus easing the path for the good ones to grow into medium sized ones.
Its this part of the economy that really creates jobs and opportunities.
I would love to see a big tough anti trust regulator appointed and our existing disgusting cozy oligarchies broken up.

[Double Edge]

I think the Indian case is different. Our companies are corporate only in name.
In practice they are fronts for particular families, who in the main can easily justify the label of evil cnuts.

See robber barons of the nineteenth century. Every developing country has theirs. They build the roads that smaller companies drive on. Would the stock market be the way it is without the elder ambani.

What is needed is to reduce the obstacles for startups and small businesses, plus easing the path for the good ones to grow into medium sized ones.
Its this part of the economy that really creates jobs and opportunities.

Agree

I would love to see a big tough anti trust regulator appointed and our existing disgusting cozy oligarchies broken up.

They did this with standard oil in the US over a hundred years ago. Depending on who you ask the oil companies seemed to have got back together again.

I think breaking companies up is dangerous. You will kill a lot before you get it somewhat right.

Interfering (euphemistically known as 'fixing') the economy/market is what we are experts with. They call it regulation and the argument can go either way.

[antimony]

I think the Indian case is different. Our companies are corporate only in name.
In practice they are fronts for particular families, who in the main can easily justify the label of evil cnuts.
What is needed is to reduce the obstacles for startups and small businesses, plus easing the path for the good ones to grow into medium sized ones.
Its this part of the economy that really creates jobs and opportunities.
I would love to see a big tough anti trust regulator appointed and our existing disgusting cozy oligarchies broken up.

As a corporate banker, I have seen this firsthand. It is ridiculously easy for companies to siphon money out. that money frequently makes it back to real estate. So the way to stop this is not heavy handed regulations, but enforcement to stop intercompany transfers and better scrutiny and taxation of revenue inflows (as forming shell companies is a popular way to siphon money). Ultimately, we need very strong money laundering laws as well as reform of real estate, which is one of the main absorbents of black money.

[Double Edge]

This article describes the challenges ahead for the Indian economy.

The inheritance of ruins | Open | Jun 20 2014

“In fact, candidness and honesty, underpinned by the immense trust that the electorate placed in Prime Minister Narendra Modi could prove to be Jaitley’s biggest boon: the people of India expect honesty, however stark, from both the PM and his FM. They are well aware that tough decisions and belt tightening could be called for now, agar achhe din ko aana hai [if good days are to come],” points out a colleague in the government. Both Modi and Jaitley, taking a cue from the electorate, have therefore minced no words in underscoring, quite early on, that people will have to bite the bullet first in order to work towards a booming economy.

[antimony]

This article describes the challenges ahead for the Indian economy.

The inheritance of ruins | Open | Jun 20 2014

Quite right, and no more backtracking please.

Already the government looks like : Ab kir baar, backtrack Sarkaar (this time, a backtracking government)

[kuku]

A company that manufactured devices only for import (no domestic sales), had to wait for 27 months for approval in name change of one of their products.
Launching a new product was such a horrifying experience for them that they cut the planned hiring in India from 9000 to 4000.

Another company sold 20 units of imported devices and services (together a work order) worth 90 million ++ at custom and withholding taxes much lower than what were prescribed in the law.

Everyday i see immense potential in India being smothered to death by the great Indian Babu and Neta ji.

[kuku]

With the notable exception of the Tata Group, this pretty much describes every big business house in India.
You don't become the big boy on the block without breaking a few heads.

The problem with these huge legal and administrative laws is that people who have links with the Neta ji's and Babu ji's end up owning all the business, while the rest of us are busy with the administrative and legal bullshit.

[Double Edge]

A company that manufactured devices only for import (no domestic sales), had to wait for 27 months for approval in name change of one of their products.
Launching a new product was such a horrifying experience for them that they cut the planned hiring in India from 9000 to 4000.

Another company sold 20 units of imported devices and services (together a work order) worth 90 million ++ at custom and withholding taxes much lower than what were prescribed in the law.

Everyday i see immense potential in India being smothered to death by the great Indian Babu and Neta ji.

This is the usual story so i intend to hold Modi to his campaign promise

min government max governance.

let's see what he can deliver.

An earlier article i read was saying maybe he can be for India what Nixon was to the US. Meaning better relations with China.

I think he is more like Reagan or Deng, at least pretends to be.

[kuku]

It does not seem to be such a difficult thing to do, that is till someone faces the great bureaucratic wall.

[Oracle]

You all have seen the budget? Sadly, BJP is just a replica of the Congress.

200 crores for a statue of Sardar Vallabhai Patel, and only 100 crores for womenfolk who are raped.

Do we really need statues in India, or toilets? What the fuck is wrong with us and our leaders? I am so disappointed.

[commander]

You all have seen the budget? Sadly, BJP is just a replica of the Congress.

200 crores for a statue of Sardar Vallabhai Patel, and only 100 crores for womenfolk who are raped.

Do we really need statues in India, or toilets? What the fuck is wrong with us and our leaders? I am so disappointed.

Statues maynot be necessary but Toilets are definite yes. Many dalit women who were raped in UP were those who were about to attend nature's calls and since they didnt have toilets they had to leave their house. Also it's a health issue and India is doing not so good when it comes to that and toilets are definite yes.

If i am not wrong there was already 1000 Crores sitting in the kitty to be spent the Nirbhaya fund. The previous congress government had never used even a penny of that. So isn't that amount still available ?

It is also not about how much you spend, it is about how wisely you spend.

[Oracle]

Statues maynot be necessary but Toilets are definite yes. Many dalit women who were raped in UP were those who were about to attend nature's calls and since they didnt have toilets they had to leave their house. Also it's a health issue and India is doing not so good when it comes to that and toilets are definite yes.

If i am not wrong there was already 1000 Crores sitting in the kitty to be spent the Nirbhaya fund. The previous congress government had never used even a penny of that. So isn't that amount still available ?

It is also not about how much you spend, it is about how wisely you spend.

NorthIndia is the shithole of India. Kidnappings, Rapes, road rages etc. They need to be numbered, counted, and then let go into other states.

I say, let's ban these idiots from the Hindi heartland from other parts of India.

[Double Edge]

It does not seem to be such a difficult thing to do, that is till someone faces the great bureaucratic wall.

Modi has approached the bureaucracy in an interesting manner. Asked the bureaucrats to discuss cadidly any problems or obstacles with him without the presence of ministers in the room. If there are any issues they cannot get around to approach him and he would have their back. He did the same in Gujurat.

He has put the focus on the bureaucrats and reduced the importance given to the heads by the previous govt. See recent disbanding of various GOM (group of ministers) or (Empowered)GOM commitees.

[Double Edge]

You all have seen the budget? Sadly, BJP is just a replica of the Congress.

200 crores for a statue of Sardar Vallabhai Patel, and only 100 crores for womenfolk who are raped.

Do we really need statues in India, or toilets? What the fuck is wrong with us and our leaders? I am so disappointed.

ok and what about the rest of the budget ? did that also dissapoint you.

[Oracle]

ok and what about the rest of the budget ? did that also dissapoint you.

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