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India’s transition from Receiver to Donor of Foreign Aid

Discussion in 'World Economy' started by sunny_10, Jan 13, 2013.

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  1. rocky.idf

    rocky.idf BANNED BANNED

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    Wonder up there in the clouds, what Gandhi-Nehru would be thinking seeing new members joining the billionaires' club every year but the ranks of the poor not shrinking.
     
  2. sunny_10

    sunny_10 BANNED BANNED

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    its all about a bottom line fact that they left 347millions people in 1947, 2% rich and rest poor at the time of freedom, while there are already 350million Middle Class in India whose per capita income is close to $20,000 on PPP, similar to Very High HDI countries like Poland, Saudi Arabia, Argentina etc, post#39...... but rest of the population growth has covered all the gains since then.... :facepalm:
     
  3. sunny_10

    sunny_10 BANNED BANNED

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    its interesting that Indian Annual Aid for different countries is around Rs 5,600 crore, or around US$1.0 billion every year, as part of Indian Annual Budget. while US just gave $150,000 aid for the Uttarakhand flood victims :rofl: :tsk:

    => US Announced 150000 US Dollar Financial Aid for Uttarakhand
     
    Last edited: Jul 1, 2013
  4. apple2

    apple2 FULL MEMBER

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    Don't (blank) quote me, James Bond
     
  5. sunny_10

    sunny_10 BANNED BANNED

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    I expected your and AA's view in this regard, on this topic :coffee:
     
  6. sunny_10

    sunny_10 BANNED BANNED

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    double post
     
  7. sunny_10

    sunny_10 BANNED BANNED

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    also,, the billionaires dont have money in pocket, but they are billionaires in terms of the industries they have, and hence providing employment, generating taxes with developing technologies also this way. we do proud on these billionaires/ industrialists who are building our society :india:
     
  8. neil_diablos

    neil_diablos Lieutenant SENIOR MEMBER

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    I wonder why you have to create another post just to state it was "double post". If indeed there has been a double post, you can delete the duplicate post and state the reason for deletion.

    Another thing, you quoted rocky.idf, thrice,
    When you could have simply quoted him once and replied with your views, in one single post.

    All these shenanigans lead me to believe you are doing so just to increase your post count.
     
  9. rocky.idf

    rocky.idf BANNED BANNED

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    That theory looks very smart. But on ground the opposite is true. Gandhi's model, on the other hand, addressed the common man direct.
     
  10. sunny_10

    sunny_10 BANNED BANNED

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    boss, there are few threads i run to get replies from other members, to know their ideas and i suddenly replied Rocky.idf to know, whats his opinion in this thread, on my questions. (for example, i tried to justified that Billionaires don't have money in pocket, but they are billionaires in terms of the industries they have to provide employment, generating taxes for the government which government use to help the common public itself, with introducing new technologies too through their industries, hence building the nation this way.... and now Rocky has come with an argument, and i will think its answer.....)

    when i make 'double post', most of the time it means to again put these topics on the front, by opening the same thread again, with a hope that a new member, or the old one like Rocky, may help me face few questions and then i may improve my knowledge by finding the answers of those questions. at the same time, my threads are mainly intended to provide learning to those who are looking for information on the key geo-political/ economic/ social etc issues :meeting:

    for example, Rocky does make few questions to make me think more on the topic of my this thread but you didn't ask any question on my posts of this thread??????
     
    Last edited: Jul 31, 2013
  11. sunny_10

    sunny_10 BANNED BANNED

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    time has changed during last 70 years, and hence we need to think more than what Mr Gandhi could think during WW1 and WW2 time, isn't it?????

    at the same time, we have a clear view of Mr Gandhi itself as below, on the government website of India, any comment???? :coffee:

     
  12. rocky.idf

    rocky.idf BANNED BANNED

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    Well, Nobel Laureate Amartya Sen is saying much about the same thing as I have said. Leaving the capitalists absolutely free will keep fattening them and their foreign MNC partners, ensuring more poverty. Look around India and you will see the plunder of the imperialist MNCs. No wonder the indigenous people and rural population affected are up in arms. Calling them Maoists and jailing/ killing them is not the answer. The answer is to re-read Mahatma Gandhi.
     
  13. sunny_10

    sunny_10 BANNED BANNED

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    Foreign cos pulling more money out of India-Nomura

    May 25 (Reuters) - Foreign direct investment, the sort of sticky long-term money India craves to fund its current account deficit and build up its infrastructure, may not be so stable after all.

    According to a Nomura report, multinational companies have been pulling money out of India at an accelerating rate, moving $10.7 billion out of the country in 2011, up from $7.2 billion in 2010 and just $3.1 billion in 2009.

    Outward flows are bad news for a country that this week saw its rupee currency hit a new record low as investors worry about its hefty fiscal and current account shortfalls, slowing economic growth and policy gridlock.

    Still, corporate funds continue to enter India even as existing investors exit. Inbound foreign direct investment surged 88 percent to a record $36.5 billion in the fiscal year that ended in March, according to official data.

    "Global deleveraging may have forced companies to sell their Indian assets and repatriate funds to their home country," Nomura analysts wrote in the Friday note.

    "At the same time, domestic push factors such as slowing potential growth, the high cost of doing business and regulatory uncertainty have weakened the investment climate, likely causing this erosion. This is not a good sign."

    Telecoms companies Etisalat of Abu Dhabi and Bahrain Telecommunications Co are leaving India after their mobile phone licences were among those ordered cancelled by an Indian court amid a corruption probe.

    New York Life recently exited its 26 percent stake in an Indian insurance venture with Max India for $530 million, while U.S. mutual fund giant Fidelity Worldwide Investment recently struck a deal to unload its India unit to local company L&T Finance Holdings.

    Foreign companies have been increasingly frustrated by regulatory uncertainty and a lack of reforms. Rules that would allow foreign companies into the supermarket and airline industries are stalled.

    Vodafone, the world's biggest mobile carrier, has repeatedly clashed with authorities in India, which is trying to collect more than $2 billion in taxes from it through a retroactive law change, even after India's highest court ruled in the company's favour.

    Vodafone, the biggest overseas corporate investor in India, has said it will not walk away.

    The Nomura report said the services, manufacturing and real estate sectors probably saw "the maximum outflow".

    Foreign cos pulling more money out of India-Nomura | Reuters
     
  14. sunny_10

    sunny_10 BANNED BANNED

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    Finance ministry verifying outward remittances made in 2011-12 fiscal
    Jun 14, 2013

    NEW DELHI: The finance ministry is verifying outward remittances worth Rs 3.56 lakh crore ($70billion+) from India during 2011-12 as a major portion was not subject to tax deduction at source, an official said on Friday.

    "The finance ministry is currently engaged in verifying the remittances made abroad from India as over 70 per cent of remittances going out of India during the financial year 2011-12 were without any tax deduction whatsoever,:toilet:" director income tax (International Tax), MS Ray said at an Assocham event today.

    For 2011-12, there were 7,56,741 foreign remittances made from India with money worth Rs 3,56,461 crore going out of India, he added. (exchange rate in 2011, US$1.0 = Rs 50.)

    Ray said: "...out of this, tax deduction at source (TDS) made was Rs 12,676 crore representing just three per cent of the total remittances going out of India."

    He said that the income tax department is making efforts to verify the remittances and organising seminars and campaigns to spread awareness about consequences of withholding taxes in smaller towns.

    These efforts are paying rich dividends, he added. Ray said that awareness about TDS, mainly in smaller towns and cities is not up to the desired levels. This is especially seen in places such as Ludhiana with large population of non-resident Indians, he added.

    "The NRI population in these places is selling properties but while remitting the sale proceeds, people are not aware that TDS has to be made," he added.

    Speaking about characterisation of income through royalty and fees of technical services, he said this is a major area of litigation and needs a coherent approach and understanding from both tax authorities and tax payers.

    Ray added that the department is providing various mechanisms for greater certainty in taxation and reduction in litigation.

    Finance ministry verifying outward remittances made in 2011-12 fiscal - Times Of India
     
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  15. sunny_10

    sunny_10 BANNED BANNED

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    in fact, exchange rate was US$1.0 = 44 Rupees only in 2011, which means around $80billion+ reverse remittances from India in 2011 :coffee:

    here, high professional indian migrants/ migrant indian businessmen doing business in foreign nations, send money after paying very high tax as Indian migrants are the highest income group in western nations, who are part of generating technologies to run their Industries/ running business there and hence pay very high tax to those governments this way too, etc etc, and then India received around $60billion remittances in 2011. while around $80.00billion+ Reverse remittances from India without proper tax????????????

    isn't is looting of India now days, in the same way as before 1947? how foreign companies and other sources are so successful in taking out money from India, "without paying tax also"??????
     
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