Union Budget 2012/13
Union Budget 2013 ~ India is a BLESsed Economy
Felt like a stand up comedian as had the house of 400 well informed investors in splits ! when I address and interacted with them on Budget Day Feb 28 evening itself at a Budget Review Event jointly hosted by AIVF,JITO and the BSE Brokers Forum at KC College Auditorium
Covered this on our Company website as below :
SCRIP STANDPOINT ~ A View
Slide Share ~ The Presentation at the Event to support the Address & Interaction
Union Budget 2013 ~ India is a BLESSsed Economy…
Enjoyed on the Budget Day Evening itself Feb 28,2013 addressing and interacting with a well informed audience of 400 on the Union Budget 2013 ~ on how the Government plans to make Money to tackle deficits and how we can ! ~ plan to host a few thoughts of my presentation on the company website www.jsalphaa.com and on this blog ~ covered how FM has cleverly and conveniently balanced the budget ~ also covered the Forward Trends in Equities & Indices & Gold & Exchange Rate & how Debts & Deficits are forcing Disinvestments & how the malaise continues on our exchanges and it will be some time before the retail investor comes back,if at all ~ spoke on Liquidity,Sentiment,Momentum and Valuation
🙂 Felt more like a Stand Up Comedian as the audience were in splits on some of the budget and stock market situations I presented…Cheers !
When Pranab Mukherjee rambled his Union Budget Address mid March 2012,he announced a lower Oil Subsidy Target for FY 13,indicating that a Price rise in Petrol was inevitable….It’s come a little over two months later just as the Summer Session of Parliament has ended….Petrol from today is in the range of Rs 73 to Rs 81 /litre…up @ 10% overnight…
Now I have an official and more compelling and credible excuse to work from Home !…Did someone say Bus it,Train it,Bike it,Pool it or just walk it ! like Millions do ….in Mumbai !?
Your Office is your Mobile these days….that’s a Virtual Reality…allows one to work from anywhere…by default now from Home too !
They say there is Intelligence leakage when Government keeps defending their inability to find sustainable Economic solutions …I disagree !…there has to be Intelligence in the first place for there to have been any leakage !….pardon me for being unkind here…but it truly is frustrating when India continues to squander it’s resources
Sensex is Low ~ Rupee is Low ~ WE ARE LOW ! ~ Inflation is High ~ Current & Fiscal Deficit is High~ Oil Prices are High….FII and FDI Trust Deficit is High…..and yet the Government continues to be on the defensive and keeps claiming pyrrhic victories of GDP Growth rates and Employment Plans and record Foodgrain Production and High Fx Reserves…and after years now admit Global Macros are severely impacting us !….and our near 80 year old FM,addressing the Rajya Sabha at length today on the state of our Economy keeps living in the Past, referring to past History of 1948 and 1952 and late 1960s …and that another Committee may be formed to look into current Economic issues !….Good Lord ! yet Another Committee !…suddenly the FM seems to have realised Stark Reality…talks of being pragmatic,realistic and keep eyes on the ground !….earlier there was a psychosis prevalent…ambitious PSU Disinvestment was budgeted…as were lower deficits and higher growth….none achieved….never would have been,when targeted in the first place !….repeated assurances were given as to India remains a Growth Story and not to worry
Now the Government tells us it is a worrisome and anxious economic situation that India faces….Why could they not have been Honest in the First place rather than giving false reassurances…either it was deliberate or it was a lack of vision and intelligence to realise this !
Where are the selfless Economic and Political Luminaries and Visionaries ! ?…India desperately needs you’ll now more than ever !…to bring back on Track of Economic Prosperity a derailed Economy !
Sensex sinks 2.33% and 395 points to close at 16518 at 3.30 pm,although the adjusted close is down 366 points at 16546…..retracing all it’s misplaced elation yesterday on deferment of General Anti Avoidance Rules (GAAR)
Yesterday the Sensex showed a remarkable bounceback from negative to positive to close near 17000 at 16913 just because FM Pranab Mukherjee announced that he was deferring the GAAR by a Year and putting the onus on the IT Authorities to prove tax avoidance
It was like the FM warning FIIs and those who misuse Double Taxation Avoidance Agreements (DTAA)
” Alright I won’t kill you’ll this year but will do so next year !”
…and the Market responded by applauding this lease of Life for a year more !…pretty misplaced
India has DTAAs with 82 countries….Without hiding behind any DTAA,especially with the one with Mauritius coming under Review,FIIs are now exposed….having to lose their tax advantage which acted as a strong cushion given they had to contend with the Rupee Depreciation too
Today reality sunk in and the whole bounce back was retraced back to 16500 levels…helped along also by Deputy Governor of RBI stating that with Oil Prices & Inflationary Pressures remaining high,it would be difficult to lower Interest rates further
All 30 Sensex Stocks closed in the Red with those highlighted in Bold Red Below being the hardest hit and interestingly all favourites too…and that’s an ominous sign for further falls
|SENSEX 16546 (- 366) ~SENSEX Stocks|
The May Meltdown is On… !