Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Tuesday 11 November 2014

A CASE FOR ZERO PERSONAL INCOME TAX

For past two years , I have been advocating total abolition of Personal Income Tax

Not because , a few countries such as Saudi Arabia , UAE , Qatar , Oman , Kuwait , Bahrain etc , have NIL personal income tax

But , even for a less developed country like ours , it makes a lot of sense

Here is why :

* Today's Hindustan Times reports following study by Price Water-house Coopers ( PWC ) :

" Average take-home salary as a % age of total salary " - are :

>   Saudi Arabia................ 98.86

>   China.......................    62.05

>   Germany...................   60.61

>   USA..........................   60.45

>   UK...........................    57.28

>   India.........................   54.90

>   Italy.........................    50.59


*   It is obvious that Saudi Arabian citizens take home more because there is NO personal Income Tax there

*   In India , our " Take home Salary " is only 54.90 % , because we pay a very
     high personal income tax

*   Of the total revenue receipt of Central Government ( 2013-14 est ) ,Personal      Income Tax contributes only 23 % ( approx Rs 2.4 lakh crore )

*   If personal income tax were to be abolished , this revenue will be lost

But , here is the Upside :

*   India's current Household Saving Rate = 21.9 % of GDP

*   That means our total Household Savings = Rs 24.72 lakh crore ( 2012-13 )

*   Of these , 

     >  Rs 16 lakh crore are tied up in unproductive Physical Assets (Gold/Land)

     >  Rs   8 lakh crore are invested in Financial Assets (Bank / Mutual Funds)

*   If Personal Income tax is abolished , it is possible that our Household 
     Savings Rate may go up from 30.1 % to 45% of GDP (it was 40% in past)

*   That would add Rs 12.36 lakh crores , raising total to Rs 37 lakh crore !

*   And most likely , the proportion of investments would be ,

    >   Rs 7    lakh crore in Physical Assets , and

    >   Rs 30  lakh crore in Financial Assets ( Productive use )

And that's not all  !

*  With NIL personal tax to pay , all the cash ( black money , no doubt ! ) ,
    lying in bank lockers , will get deposited in official bank accounts , within
    one year

Now , couple this BOLD & IMAGINATIVE step with :

*  Creation of  SPVs , dedicated for building Infrastructure . No questions asked

   for amounts invested in these SPVs . No dividend tax for 10 years 

If implemented , there will be no reason for us to go begging China / Japan / USA for investments in Infrastructure / Manufacturing etc !


*   hemen  parekh  /  12  Nov  2014

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Saturday 8 November 2014

HOW CHINA MAKES CHEAP ?

A few days back , I heard , Government of India banned imports of cheap Chinese fire-crackers ; presumably to protect the jobs of thousands of workers , working in the fire-cracker factories of Shivkashi and elsewhere

This morning newspapers carry headlines :

" Lakhs of poor women working in Agarbatti factories thrown out of jobs , due to imports of cheap Chinese Agarbatties "

Soon expect a ban on imports of Chinese Agarbatties  !

It is the same story with big manufacturers of ,

>   Power Generation equipment

>   Solar panels

>   Machine Tools

>   Construction Materials........etc

Indian manufacturers of these equipment want India Government either to ban imports of such equipment altogether or impose huge import duties to discourage its imports

They are telling Government :

" If you don't , thousands of workers will lose jobs "

In turn , the Indian Government is telling the Chinese :

"  We already have a negative trade balance with you , of about $ 35 BILLION.
   You must help us correct it by buying from us MORE ( of those expensive goods that we manufacture ) ,

and,

Stop exporting to us all of those CHEAP Chinese goods "

Question is :

How many Chinese goods can we stop importing ?

No one seems to be asking :

"  What enables the Chinese Manufacturers to make those goods so cheap ? "

May be - just may be - India Government , and those Indian manufacturers , need to find answers to this question  !

May be , we need to IMPORT those Chinese Labor Policies /  Government Procedures / Manufacturing Practices / Bank Interests /  Tax rates  / Land Usage laws / Single Window clearances and a hundred other things that have enabled China to become , the " Workshop of the World "  !

That is the only way to save - and create - JOBS , in India

---------------------------------------------------------------

hemen  parekh  /  09  Nov  2014

---------------------------------------

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Saturday 6 September 2014

" COMPOSE MESSAGE " page


Shuklendu


This is further to our telecon yesterday

In the evening , I mentioned to Vishesh re our attempts to embed a video into the text of the message

He pointed out 2 things :

>  Video will make the message " heavy " and email will take a long time to get transmitted ( this is something that I have experienced )

>  But what could be far worse is that , such an email ( containing a video ) is quite likely to be treated as " spam " and dumped into junk email folder - unlikely to be ever opened

If you too agree with these observations then , it is not too late to reverse / modify our decision  !

We have following options :

>  Forget about the video altogether ( just provide for embedding photo / image etc into the text )

>  Make provision for " attaching " a video with an appropriate warning that this may go to junk folder  !

I would appreciate if you could discuss this with Nitin and then convey to me your decision


If you decide to drop the video altogether , when can Satish upload the remaining changes ?


These changes are :


*  Any casual visitor being able to compose a message and be able to download the same ( which will carry a watermark )

*  Search-bar , to type a keyword and click either of the buttons , " Show Images "   / " Show Clip-Art "

*  Display of search-results and ability to copy/paste ( into the Message Text ) , any photo / image

*  Anything else ? You may want to refer to my handwritten notes / earlier emails

hcp

Friday 1 August 2014

A TALE OF TWO BETRAYALS

*  Betrayal by Central Government ( really , by BJP )


    Central Government decided not to cover political parties under RTI act - which was a BJP promise during elections



*  Betrayal by the Supreme Court


    SC declined not to have FAST TRACK courts for trying - and completing within ONE year - court cases pending against MPs and MLAs

    But , if Modi means what he said , both during election campaign and in Lok Sabha , he can most certainly find a way to create 15/20 Special Courts ( to be named , " Legislator's Court " ?  ) , which will hear these cases on a day-to-day basis


*   hemen   parekh  (  02 Aug 2014 )

Monday 14 July 2014

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B2B will expand International Trade



As more and more Organizations join up , more will benefit due to principle of Network Externalities



hemen parekh

Sunday 13 July 2014

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Type : Facebook Report

Click : " Analyze My Facebook Data "

Next : Authorise the App

Next : Register as WolframAlpha user

Next : Wonder , " What is all this about ? "

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---------------------------------------------------------------------------------

hemen  parekh  (  14  July  2014  )

Monday 7 July 2014

Central Budget : 2014



Dear Shri Arun Jaitleyji,

Even as you proceed to present Central Budget to Lok Sabha on 10 July 2014 , please look out the window of your car and see the " Poor " people on Delhi's footpath

Then , like Mahatma Gandhi ask yourself,

"  Whatever budget proposals that I am about to present , will these bring a smile to the faces of these poor  ?

363 million poor Indians , who eke out a survival on expenditure of Rs 32 ( rural ) or Rs 47 ( urban ) per day  ?  (  $0.5 - 0.8 / day  )

For a family of 4 , that works out to , Rs 3840  -  Rs 5640 per month
(  $ 64  -  $ 94 per month )

May be the head of the family manages to earn Rs 2,000 per month , doing odd jobs , here and there

The rest of the income must be coming thru ,

*  Wife scavenging the garbage heaps for discarded plastic bags / bottles
   ( when she is not salvaging discarded food  !  )

*  Children begging on the streets ( you will see them as you drive to Lok Sabha )


Now if,

*   Our population keeps growing at 15 million per year

*   Inflation keeps rising at 10 % per year, necessitating raising " Poverty
     Limit " by 10 % per year

Then ,


*   How many more people will get added to "Poor "population, every year ?
May be 5-7 million/year  ?  25-35 million by 2019 ? Taking the total to 400 million  ?


Mr Jaitley ,

Can you listen to their anguished cries ?

They are " begging " you to create jobs for them , so that they can work hard and earn an honest / decent income , which can lift them above that wretched " Poverty Line "

They don't want your dole-outs / subsidies for food / LPG / Kerosene etc  !

They don't want to remain dependent on Sarkaar - Maa Baap , for ever  !

Sir ,


Can you ( ie Central Government ) give them jobs ? To even 50 million / year  ?

Assuming that creating ONE job calls for an investment ( in fixed assets + working capital ) , of Rs 1 million ( Rs 10 lakhs ) , you need,

* Rs 50 MILLION * MILLION , every year  !

And  YOU  just don't have that kind of money  !

Even as  { Rs 500 MILLION * MILLION  }  of Black Money is locked up in un-productive assets , all over the country  !

The only way you can create those 50 million jobs / year , is to enable these Black Monies to turn into WHITE MONEY and get channeled into Infrastructure / Manufacturing / Services etc

And the only way you can do is to ,

*  Introduce Amnesty Scheme   ( now / immediately )

*  Introduce INVERSE TAX REGIME  ( in 2015 Budget )

I have sent these proposals to Shri Narendra Modi / Shri Murli Manohar Joshi / Shri Nitin Gadkari etc , during the past 8 months


*  hemen  parekh  ( 08 July 2014 / Mumbai )  

-----------------------------------------------------------------------------------

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