Electoral frauds dampen Afghan business prospects

Which picture of Afghanistan do you have? A mountainous landlocked country in central Asia; bordered by Iran to the west and Russia to the north and Pakistan to the east and south; impoverished and also ravaged by internal feuds and Islamic terrorists. Is it the same? Well, without a shred of doubt, you can have it; this has been the common picture of Afghanistan for decades. But the ill-fated or doomed country has another reality.

Afghanistan is a member of the South Asian Association for Regional Cooperation (SAARC), Economic Cooperation Organization (ECO) and the Organization of the Islamic Conference (OIC) and even though its economy and business have suffered to the largest extent ever since the 1979 Soviet invasion and subsequent conflicts, there have been signs of developments in the recent years. According to the World Bank, "economic growth has been strong and has generated better livelihoods" since 2001.

One of the key factors behind this praiseworthy development is the infusion of multi-billion US dollars as part of international assistance and investments, in addition to remittances from expats. It is also due to dramatic improvements in agricultural production and the end of a four-year drought in most of the country. Well, this was the common picture even a few months back but now it seems the erosion is on the rise once again.

The most crucial factor of this decline afresh is the poor security and ongoing indecision about the result of the presidential election run-off - or whether there will even be a run-off - and also of the character of a future government. Experts state emphatically that all have contributed to the stagnation.

There is no doubt that the electoral fraud and the subsequent uncanny developments have dampened the spirits of both intellectuals and the business fraternity in the country. Both confided the electoral procedure and hoped to return to normalcy bit by bit. This reality, as per many Afghans, does endanger both security and stability and stamps down the business prospects.

What should be done? Hindus can’t write own obituary

Lots of things can be said of the gradual yet unfortunate (expected?) decline of BJP and SANGH PARIVAR, though I simply despise to write the obituary of this specific school of thought so early. What have been the real causes of its downfall and slow but steady move to the oblivion can be both discussed and debated; but, without a doubt, what has happened and is also going on still is neither coveted nor was a nightmare even a few months back. Well, it seems to be a grim reality and also intricate. What conclusion can be drawn then? We, again, are at a loss!

What can be the destiny of Political Hinduism then? What shall be the next courses of action? It appears that this is the high time to introspect meticulously; we are not in a position to repeat the past mistakes simply. There have been humongous failures at almost all fields, be it social or political or even academic pursuits. Truly speaking, the Hindu movement (as has been perceived hitherto) suffers from an inhuman dearth of noble natures, intelligence and also sharp acumen.

Is it vital to cite a single instance? This is also an impossible task since mistakes have been manifold and have let down the aspirations of a race/DHARMA that was destined and also desirous to write its own political destiny. The saga of vivacity, masculine tendencies, aggression and also assertion that unfurled from the late 80s (through Ram Mandir movement) has lost in the midst of administrative compulsions, avidity to become akin to a suzerain in the corridors of power and also weird endeavors.

Is this is a betrayal of self-claimed custodians of Hindu society? There is, truly, no other way other than to corroborate this stern reality. Definitely Political Hinduism has failed to attain the success that we had thought would happen in no time. There is nothing except a void. Is this permanent? We dare not to think in this way but unless new and radical thoughts spring up, we may have to write the obituary of whole HINDU DHARMA.

What should be done then? How can this squalor and negativism be brushed aside? Try to be radical, steer clear of the perennial fallacies of practiced Political Hinduism and get aggressive. For more than one millennium HINDU DHARMA has remained defensive. Only gospels of multiculturalism in conjunction with non-violence, passivity, self-righteous traits have been preached by the Gurus and the result is too obvious. Hindus have become synonymous with a geographical identity and also emissaries of a defeatist philosophy.

You can opine and also bring forth several standpoints to defy the aforesaid sentences; but the veracity is simply unavoidable.

Hindus have been slaves for more than one millennium and perhaps prefer to go on with the same without any compunction. What do you think then? Well, I am clear to myself. These frivolous tendencies or practiced notions of Political Hinduism must be stopped straight away.

There can’t be any more defense, as our backs have touched the wall. The mantra is crystal clear hence – either we rule or get ruled and get perished once and for all. Hence, what should be done is to fabricate new strategies, lines of action to seize the whole globe. It’s a bloody affair and so Hindus have to be aggressive and have the zeal to stamp all down.

Will Indian realty sector get vulnerable to government whims?

It seems that the 13th Finance Commission of India is no longer contented with its own conventional duties, especially dealing with the sharing of taxes between the central and state governments, and is trying to take hold of other sectors too. What makes us speak in this way? In accordance with a top official, the Commission is looking for to bring the escalating real estate under the proposed Goods and Services Tax (GST).

“I urge the government to include the construction and housing sectors (real estate) in the GST base either immediately or during a subsequent phase,” Commission Chairman Vijay Kelkar said at a conference on GST, organized by the Federation of Indian Chamber of Commerce and Industry (FICCI) in Bangalore.

Is this a new development or part of a greater strategy to subdue the raucous voices of the emboldened Indian private sector? Nothing is known yet but definitely the Commission has concluded that the construction sector is a significant contributor to the national economy and housing expenditure dominates personal expenses and all these have made it conclude that the existing piecemeal taxation of the real estate encourage vicious incentives.

“Raw material is charged at Cenvat (central value-added tax), the works contract is charged at VAT and stamp duty levied on the sale deed. With no provision of input tax credit in place, there is little incentive to record such transactions either at the construction stage or at the sale stage at their correct value,” Kelkar said. “Such multiplicity not only leads to substantial loss of tax revenue, but also fuels parallel economy.”

Looking for the support of the chambers of trade and commerce to the introduction of the GST effective from April 1, 2010, Kelkar said the railway sector should also be included in the GST base to give a level playing field to the road and air freight sectors, which would be subject to the new tax regime.

“We favour extending the GST to the real estate sector to regulate the business and bring in transparency in its operations. Such a measure will help all stakeholders, especially buyers, curb speculation, check artificial pricing and ensure accountability,” FICCI president H.P. Singhania said later.

Indian realty sector vows to expand more; nation’s moral fiber capitulates

It is said that a sound economy is the foundation of any country and this is also the nuts and bolts that renders the coveted courage to the same. Well, we don’t know what ails India that leads to its mere capitulation before the continual and almost regular admonitions of China but certainly the aforesaid aphorism fails to find any place in the Indian scenario. Reason? Indian economy, in spite of its severe shortcomings in an assortment of sectors, is strengthening whereas the external world is still reeling under the brunt of the moribund downturn.

Getting interested to know of the reasons behind the last few lines of the first paragraph? Well,
United Arab Emirates (UAE), the 10th largest foreign direct investor in India with a total cumulative investments of more than $ 5 billion, is ardent on investing in impending projects focused on sectors like minerals and metals, real estate, infrastructure, aviation, ports, telecom and energy in the country.

Speaking on this, Ambassador of UAE, H E Mohamed Sultan Abdalla Al Owais in an interactive session organized by CII (Eastern Region) on Friday, "We have already committed up to $400 million for a special economic zone and port at Kulpi in West Bengal. We are also closely following the other port developments in India. Our investments (by UAE companies) in the next few years could be in the sectors such as minerals and metals, real estate, infrastructure, aviation, ports, telecom and energy."

It is worthwhile to mention, in this context, the bilateral trade between the two countries was in the region of $44.5 billion in 2008-09, an increase of about 53% compared to $29.1 billion during 2007-08 and H E Mohamed Sultan Abdalla Al Owais has the conviction that this growth rate in the next fiscal shall be retained.

United Arab Emirates with a population of 5 million has almost 1.75 million Indians who constitute about 42.5% of a strong workforce of the country. Al Owais also said that UAE, at the moment, is India’s number one trading partner, surpassing China and USA.