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

Wednesday, 25 January 2023

ChatGPT : circa 2016

 


 

Context :

If ChatGPT were your Finance Minister for Budget 2023, would you get tax cuts?    

( Financial Express  /  25  Jan  2023 )


Extract :

….we asked ChatGPT to don the hat of India’s finance minister and tell us whether it would cut taxes to reduce the burden on the salaried class.

In response to the question, “If you were the Finance Minister, would you cut income tax rates in the Budget?,”

ChatGPT said that :

Ø  since it is a language model, it does not have personal preferences or opinions, so it can not be a finance minister. “However, whether or not to cut income tax rates is a complex decision that would depend on a variety of factors,” it said, adding that cutting income tax rates could help to stimulate economic growth by putting more money in the hands of consumers and businesses, which could lead to increased spending and investment.

It further went on to say that:

Ø  ..on the other hand, cutting income tax rates could also lead to a reduction in government revenue, which could negatively impact public services and programs. Additionally, cutting income tax rates could also exacerbate income inequality, as those with higher incomes would benefit more than those with lower incomes.

 

Ø  If I were a Finance Minister, I would analyze the current economic conditions, the government’s revenue and expenditure projections, and the overall fiscal position of the country before making a decision on whether or not to cut income tax rates. It would also be important to consider the impact of such a decision on different groups of people, and to consider other policy options that could be used to stimulate economic growth and improve the standard of living for citizens,”  ChatGPT said.

When asked about how it would reduce the tax burden on the salaried class, ChatGPT said,

Ø  If I were to hypothetically suggest ways to lower the income tax burden on the salaried class, some options that could be considered include:

  • Increasing the standard deduction and personal exemptions to reduce the amount of taxable income for salaried individuals
  • Introducing tax slabs with lower tax rates for lower and middle-income earners
  • Providing tax credits for certain expenses such as education or housing
  • Increasing the exemptions and deductions available for retirement savings
  • Simplifying the tax code to reduce compliance costs and make it easier for salaried individuals to file their taxes.”

 


Now let us go back 7 years , to ChatGPT – circa 2016 . Here it is :

 

Ø  A Laughing Matter ?................................. [ 19 Feb 2016 ]

 

Extract :

Newspapers report that the Government have received budget suggestions from some 7,000  persons and that , this time around , Prime Minister himself is closely involved in the budget making exercise

 

Now, with all this obsession / seriousness / paranoia , surely this secrecy surrounding the budget document , cannot be a laughing matter  !

 

Unless you ask ,

 

* some foreign software geeks ( eg: Sundar Pichai / Satya Nadela / Vivek Ranadive / Ray Kurzweil etc )

 

* some Indian BIG  DATA  ANALYTICS geeks ( Mukund / Krishnan / Sanjay / Srikant / Raj / Anurag etc )

 

Because , if you do , they will laugh and tell you :

 

Just give us the actual budget documents of the past 60 years ( including the accompanying budget speeches ) and we will process these documents using Big Data Analytics software and predict what will be the provisions in the forthcoming budget ( with a probability of 99.7 % - ie ; plus or minus THREE standard deviation )

  

And then, we will process those past budget speeches with a PARAPHRASING software ( ala Kurzweilai.net ) and give you an advance print-out of Shri Arun Jaitleyji's speech on 29th Feb  "

 

 

But of course , Shri Jaitleyji could cheat the PREDICTIVE ANALYTICS , by

announcing following unpredictable  :

 

*   Total Abolition of Personal Income Tax ( or at least , reducing incremental tax rates in each higher slab )

 

*   Decreasing Incremental Corporate Tax Rates , linked with each higher slab of " Permanent Employee  Number "

 

    

*   Perpetual Amnesty Scheme for all CASH deposits made in Jan Dhan Accounts , if invested in tax-free Infra  SPVs

 

    

*   Transfer of 1.8% of GST (from 18%) into buyers' PPF a/c , to ensure all citizens get PPF a/c for tax-free savings

      

     This amount to be used for paying premium for COMPREHENSIVE HEALTH INSURANCE to cover all illnesses

 

*   Introduction of plastic Currency Notes of Rs 500/1000, embedded with micro RFID sensors ( stop Black Money )

 

   Surest way to ensure that almost all payments are made thru official channels !

 

*   Introduction of BTT ( Bank Transaction Tax ) @ 2% to yield Rs 15 lakh*crore of revenue ( against revenue

 

    Loss of  Rs 2.5 lakh*crores caused by abolishing Personal Income Tax )

 

  

Now such announcements , besides being " Unpredictable " , would meet Shri Narendra Modiji's following

 

announcement at Make in India week on 13th Feb  :

 

 

"  There is no time for incremental changes . We want a quantum jump  "

Dear Shri Jaitleyji  :

 

How about an " Incremental Quantum Jump " by

 

*   Announcing these unpredictable on 29 Feb 2016

 

*   Spreading out actual implementation over the next 5 years

 

 

That could be the surest way to win 300 seats in 2019 Lok Sabha elections !

 

 

Dear Smt Sitharamanji ,

 

7 years ago , Economic conditions were , perhaps not conducive enough for Shri Jaitley :

 

Ø  To announce the Unpredictable

 

Ø  To make that quantum jump

 

Things are much better now.


I urge you to announce the “ Unpredictable “ in your forthcoming Budget speech

on 01 Feb 2023 , in order to :


Ø  Unleash the Animal spirit of Indian Start-ups

 

Ø  Make 21st Century, the INDIAN CENTURY

 

 

With regards,

Hemen Parekh

hcp@RecruitGuru.com / 26 Jan 2023 / Republic Day

 

 

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