Discussion:
Oppositionists may lie to get elected
(too old to reply)
XiaoMei
2004-05-26 00:34:09 UTC
Permalink
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.

In other words, they lie. Empty promises.

The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.

For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.

A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.

---
Election over, now to fund those promises

ST 26/5/2004

By PRANAY GUPTE
FOR THE STRAITS TIMES

PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.

Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.

This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.

Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.

There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.

The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.

'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'

Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'

But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.

To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.

In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.

Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.

Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.

Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.

Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.

There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.

It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.

Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.

But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.

Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.

The writer is a veteran commentator on international affairs.
Ethical Egoist
2004-05-26 01:36:12 UTC
Permalink
Rubbish, if he is that good he wouldn't need gct and his gang to come to his
rescue and lky have to personally go meet up with temple members just to
clarify what mess he have created.

Please don't ever take up the role nor volunteer to write history for sg,
instead of making us rational in our beliefs, you'll make us all look like
fools, you bigot.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Di Da Di
2004-05-26 15:20:23 UTC
Permalink
I wonder if it seemed that the temple's case was about corruption - because
they want the temple to donate money or to give money or ot invite them as
advisor in order to get approval to have the licnece to organise temple
party such 7th month dinner and ceremony. As temple refused to pay and pay
and refuse to let them have their way - interfering their private activity
and so on, that the voters in the area began to resent the MP. Right?
Post by Ethical Egoist
Rubbish, if he is that good he wouldn't need gct and his gang to come to his
rescue and lky have to personally go meet up with temple members just to
clarify what mess he have created.
Please don't ever take up the role nor volunteer to write history for sg,
instead of making us rational in our beliefs, you'll make us all look like
fools, you bigot.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side of
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks
lined
Post by Ethical Egoist
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by Ethical Egoist
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,'
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result
in
Post by Ethical Egoist
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large agri-businesses
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Ethical Egoist
2004-05-26 16:32:14 UTC
Permalink
This chap can't even speak hokkien and mandarin also not so good. I guessed
he thought he is a minister and so acted snobbishly, remember these
ministers are not beholden to the people nor the country, but to the dynasty
and so they thought they can have their ways with their powers. I heard that
too, that he often refuse make-shifts licenses for certain festivities from
the temple and allocate them some other places instead, in other words,
making life difficult for them. These ministers from the law thought they
are above all laws and authorities and have the utmost power to do whatever
they feel like, they've no sympathy and s. jaya is also the same I heard he
never do any good deeds in his life and many hated him.

I really don't understand, out of also much party members they have, how
many are actually popular or feel they are beholden to the people and the
country? maybe the old guards but the new ones or the semi-new ones feels
they are indebted to the emperor and his dynasty rather then the people. So,
you see in the end politic wins and not the people.
Post by Di Da Di
I wonder if it seemed that the temple's case was about corruption - because
they want the temple to donate money or to give money or ot invite them as
advisor in order to get approval to have the licnece to organise temple
party such 7th month dinner and ceremony. As temple refused to pay and pay
and refuse to let them have their way - interfering their private activity
and so on, that the voters in the area began to resent the MP. Right?
Post by Ethical Egoist
Rubbish, if he is that good he wouldn't need gct and his gang to come to
his
Post by Ethical Egoist
rescue and lky have to personally go meet up with temple members just to
clarify what mess he have created.
Please don't ever take up the role nor volunteer to write history for sg,
instead of making us rational in our beliefs, you'll make us all look like
fools, you bigot.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises,
not
Post by Ethical Egoist
Post by XiaoMei
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make
tempered
Post by Ethical Egoist
Post by XiaoMei
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and
consultation.
Post by Di Da Di
In
Post by Ethical Egoist
Post by XiaoMei
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side of
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There
are
Post by Ethical Egoist
Post by XiaoMei
occasional industrial parks along the way, with neat rows of trucks
lined
Post by Ethical Egoist
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by Ethical Egoist
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with
mangrove
Post by Ethical Egoist
Post by XiaoMei
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan
Singh
Post by Ethical Egoist
Post by XiaoMei
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that
along
Post by Ethical Egoist
Post by XiaoMei
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one
knows
Post by Ethical Egoist
Post by XiaoMei
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an
orderly
Post by Ethical Egoist
Post by XiaoMei
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,'
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several
agencies
Post by Ethical Egoist
Post by XiaoMei
exist to invite such investment, they are run with the traditional mix
of
Post by Ethical Egoist
Post by XiaoMei
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense
of
Post by Ethical Egoist
Post by XiaoMei
comfort because foreign institutional investors (FIIs) have been
active
Post by Di Da Di
in
Post by Ethical Egoist
Post by XiaoMei
the equities market here. This year, net equity inflows into India
touched
Post by Ethical Egoist
Post by XiaoMei
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This
month
Post by Ethical Egoist
Post by XiaoMei
alone, investors pulled US$3.8 billion out from Asian markets; last
week,
Post by Ethical Egoist
Post by XiaoMei
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and
Industry,
Post by Ethical Egoist
Post by XiaoMei
are certain to be vexed by the question of where to turn. If the
Manmohan
Post by Ethical Egoist
Post by XiaoMei
Singh government slows the privatisation drive, that alone would result
in
Post by Ethical Egoist
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's
virtually
Post by Ethical Egoist
Post by XiaoMei
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits
amount
Post by Di Da Di
to
Post by Ethical Egoist
Post by XiaoMei
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping
this
Post by Ethical Egoist
Post by XiaoMei
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large agri-businesses
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial
exigencies
Post by Ethical Egoist
Post by XiaoMei
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Lau Niu
2004-05-27 05:35:51 UTC
Permalink
But then, he got promoted to Sr MOS leh!
Post by Ethical Egoist
This chap can't even speak hokkien and mandarin also not so good. I guessed
he thought he is a minister and so acted snobbishly, remember these
ministers are not beholden to the people nor the country, but to the dynasty
and so they thought they can have their ways with their powers. I heard that
too, that he often refuse make-shifts licenses for certain festivities from
the temple and allocate them some other places instead, in other words,
making life difficult for them. These ministers from the law thought they
are above all laws and authorities and have the utmost power to do whatever
they feel like, they've no sympathy and s. jaya is also the same I heard he
never do any good deeds in his life and many hated him.
I really don't understand, out of also much party members they have, how
many are actually popular or feel they are beholden to the people and the
country? maybe the old guards but the new ones or the semi-new ones feels
they are indebted to the emperor and his dynasty rather then the people. So,
you see in the end politic wins and not the people.
Post by Di Da Di
I wonder if it seemed that the temple's case was about corruption -
because
Post by Di Da Di
they want the temple to donate money or to give money or ot invite them as
advisor in order to get approval to have the licnece to organise temple
party such 7th month dinner and ceremony. As temple refused to pay and pay
and refuse to let them have their way - interfering their private activity
and so on, that the voters in the area began to resent the MP. Right?
Post by Ethical Egoist
Rubbish, if he is that good he wouldn't need gct and his gang to come to
his
Post by Ethical Egoist
rescue and lky have to personally go meet up with temple members just to
clarify what mess he have created.
Please don't ever take up the role nor volunteer to write history for
sg,
Post by Di Da Di
Post by Ethical Egoist
instead of making us rational in our beliefs, you'll make us all look
like
Post by Di Da Di
Post by Ethical Egoist
fools, you bigot.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises
just
Post by Di Da Di
Post by Ethical Egoist
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to
how
Post by Di Da Di
Post by Ethical Egoist
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises,
not
Post by Ethical Egoist
Post by XiaoMei
because they are less ambitious, but because they are more aware of
the
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
country's economic and social situation and would prefer to make
tempered
Post by Ethical Egoist
Post by XiaoMei
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon -
sure
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and
consultation.
Post by Di Da Di
In
Post by Ethical Egoist
Post by XiaoMei
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start
all
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New
Delhi
Post by Di Da Di
Post by Ethical Egoist
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side
of
Post by Di Da Di
Post by Ethical Egoist
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There
are
Post by Ethical Egoist
Post by XiaoMei
occasional industrial parks along the way, with neat rows of trucks
lined
Post by Ethical Egoist
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by Ethical Egoist
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with
mangrove
Post by Ethical Egoist
Post by XiaoMei
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar
workers -
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan
Singh
Post by Ethical Egoist
Post by XiaoMei
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open
to
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that
along
Post by Ethical Egoist
Post by XiaoMei
with foreign direct investment (FDI), there would be massive
government
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
investment in infrastructure development, agriculture and job
generation
Post by Di Da Di
Post by Ethical Egoist
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one
knows
Post by Ethical Egoist
Post by XiaoMei
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an
orderly
Post by Ethical Egoist
Post by XiaoMei
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia,
Thailand
Post by Di Da Di
Post by Ethical Egoist
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to
offer,'
Post by Di Da Di
Post by Ethical Egoist
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble
India.
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are
welcome
Post by Ethical Egoist
in
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per
cent
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax
laws,
Post by Ethical Egoist
a
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several
agencies
Post by Ethical Egoist
Post by XiaoMei
exist to invite such investment, they are run with the traditional mix
of
Post by Ethical Egoist
Post by XiaoMei
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense
of
Post by Ethical Egoist
Post by XiaoMei
comfort because foreign institutional investors (FIIs) have been
active
Post by Di Da Di
in
Post by Ethical Egoist
Post by XiaoMei
the equities market here. This year, net equity inflows into India
touched
Post by Ethical Egoist
Post by XiaoMei
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have
received
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This
month
Post by Ethical Egoist
Post by XiaoMei
alone, investors pulled US$3.8 billion out from Asian markets; last
week,
Post by Ethical Egoist
Post by XiaoMei
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and
Industry,
Post by Ethical Egoist
Post by XiaoMei
are certain to be vexed by the question of where to turn. If the
Manmohan
Post by Ethical Egoist
Post by XiaoMei
Singh government slows the privatisation drive, that alone would
result
Post by Di Da Di
in
Post by Ethical Egoist
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's
virtually
Post by Ethical Egoist
Post by XiaoMei
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the
formidable
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
deposits of non-resident Indians (NRIs) be taxed. These deposits
amount
Post by Di Da Di
to
Post by Ethical Egoist
Post by XiaoMei
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping
this
Post by Ethical Egoist
Post by XiaoMei
money for domestic expenditures.
It's also difficult to see how the new government is going to raise
new
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large
agri-businesses
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the
government
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial
exigencies
Post by Ethical Egoist
Post by XiaoMei
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in
his
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Ethical Egoist
2004-05-27 08:00:12 UTC
Permalink
Precisely! politics win and the people always lose in sg.
Post by Lau Niu
But then, he got promoted to Sr MOS leh!
Post by Ethical Egoist
This chap can't even speak hokkien and mandarin also not so good. I
guessed
Post by Ethical Egoist
he thought he is a minister and so acted snobbishly, remember these
ministers are not beholden to the people nor the country, but to the
dynasty
Post by Ethical Egoist
and so they thought they can have their ways with their powers. I heard
that
Post by Ethical Egoist
too, that he often refuse make-shifts licenses for certain festivities
from
Post by Ethical Egoist
the temple and allocate them some other places instead, in other words,
making life difficult for them. These ministers from the law thought they
are above all laws and authorities and have the utmost power to do
whatever
Post by Ethical Egoist
they feel like, they've no sympathy and s. jaya is also the same I heard
he
Post by Ethical Egoist
never do any good deeds in his life and many hated him.
I really don't understand, out of also much party members they have, how
many are actually popular or feel they are beholden to the people and the
country? maybe the old guards but the new ones or the semi-new ones feels
they are indebted to the emperor and his dynasty rather then the people.
So,
Post by Ethical Egoist
you see in the end politic wins and not the people.
Post by Di Da Di
I wonder if it seemed that the temple's case was about corruption -
because
Post by Di Da Di
they want the temple to donate money or to give money or ot invite
them
Post by Lau Niu
as
Post by Ethical Egoist
Post by Di Da Di
advisor in order to get approval to have the licnece to organise temple
party such 7th month dinner and ceremony. As temple refused to pay and
pay
Post by Ethical Egoist
Post by Di Da Di
and refuse to let them have their way - interfering their private
activity
Post by Ethical Egoist
Post by Di Da Di
and so on, that the voters in the area began to resent the MP. Right?
Post by Ethical Egoist
Rubbish, if he is that good he wouldn't need gct and his gang to
come
Post by Lau Niu
to
Post by Ethical Egoist
Post by Di Da Di
his
Post by Ethical Egoist
rescue and lky have to personally go meet up with temple members
just
Post by Lau Niu
to
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
clarify what mess he have created.
Please don't ever take up the role nor volunteer to write history for
sg,
Post by Di Da Di
Post by Ethical Egoist
instead of making us rational in our beliefs, you'll make us all look
like
Post by Di Da Di
Post by Ethical Egoist
fools, you bigot.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises
just
Post by Di Da Di
Post by Ethical Egoist
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to
how
Post by Di Da Di
Post by Ethical Egoist
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their
promises,
Post by Ethical Egoist
Post by Di Da Di
not
Post by Ethical Egoist
Post by XiaoMei
because they are less ambitious, but because they are more aware of
the
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
country's economic and social situation and would prefer to make
tempered
Post by Ethical Egoist
Post by XiaoMei
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an
election
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
speech he promised Nee Soon residents of their own hospital soon -
sure
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and
consultation.
Post by Di Da Di
In
Post by Ethical Egoist
Post by XiaoMei
other words, they are not blind election gimmicks but fully
realizable
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
objectives.
A small country like Singapore has to be even more careful,
because
Post by Lau Niu
we
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
have
Post by XiaoMei
very little room for the failed experiments that these
inexperienced
Post by Lau Niu
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
Oppositionists has lined up for us. We simply cannot afford to start
all
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New
Delhi
Post by Di Da Di
Post by Ethical Egoist
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side
of
Post by Di Da Di
Post by Ethical Egoist
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants.
There
Post by Ethical Egoist
Post by Di Da Di
are
Post by Ethical Egoist
Post by XiaoMei
occasional industrial parks along the way, with neat rows of trucks
lined
Post by Ethical Egoist
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer
goods.
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by Ethical Egoist
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with
mangrove
Post by Ethical Egoist
Post by XiaoMei
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar
workers -
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan
Singh
Post by Ethical Egoist
Post by XiaoMei
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open
to
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that
along
Post by Ethical Egoist
Post by XiaoMei
with foreign direct investment (FDI), there would be massive
government
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
investment in infrastructure development, agriculture and job
generation
Post by Di Da Di
Post by Ethical Egoist
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one
knows
Post by Ethical Egoist
Post by XiaoMei
where the money's going to come from. Foreign investors aren't
exactly
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
rushing to India, notwithstanding the recent elections that saw an
orderly
Post by Ethical Egoist
Post by XiaoMei
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because
it
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
directly pits India against neighbours such as China, Malaysia,
Thailand
Post by Di Da Di
Post by Ethical Egoist
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last
year,
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to
offer,'
Post by Di Da Di
Post by Ethical Egoist
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble
India.
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that
China
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are
welcome
Post by Ethical Egoist
in
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per
cent
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax
laws,
Post by Ethical Egoist
a
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several
agencies
Post by Ethical Egoist
Post by XiaoMei
exist to invite such investment, they are run with the traditional
mix
Post by Ethical Egoist
Post by Di Da Di
of
Post by Ethical Egoist
Post by XiaoMei
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading
sense
Post by Ethical Egoist
Post by Di Da Di
of
Post by Ethical Egoist
Post by XiaoMei
comfort because foreign institutional investors (FIIs) have been
active
Post by Di Da Di
in
Post by Ethical Egoist
Post by XiaoMei
the equities market here. This year, net equity inflows into India
touched
Post by Ethical Egoist
Post by XiaoMei
US$3.4 billion, second in Asia only to South Korea, which has
received
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have
received
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This
month
Post by Ethical Egoist
Post by XiaoMei
alone, investors pulled US$3.8 billion out from Asian markets; last
week,
Post by Ethical Egoist
Post by XiaoMei
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled
out
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and
Industry,
Post by Ethical Egoist
Post by XiaoMei
are certain to be vexed by the question of where to turn. If the
Manmohan
Post by Ethical Egoist
Post by XiaoMei
Singh government slows the privatisation drive, that alone would
result
Post by Di Da Di
in
Post by Ethical Egoist
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's
virtually
Post by Ethical Egoist
Post by XiaoMei
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the
formidable
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
deposits of non-resident Indians (NRIs) be taxed. These deposits
amount
Post by Di Da Di
to
Post by Ethical Egoist
Post by XiaoMei
more than US$4 billion annually. The danger is NRIs pulling out
their
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping
this
Post by Ethical Egoist
Post by XiaoMei
money for domestic expenditures.
It's also difficult to see how the new government is going to raise
new
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic
product.
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow
owners
Post by Lau Niu
of
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
small
Post by XiaoMei
and medium-size farms to lease out their land to large
agri-businesses
Post by Ethical Egoist
Post by Di Da Di
Post by Ethical Egoist
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the
government
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial
exigencies
Post by Ethical Egoist
Post by XiaoMei
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in
his
Post by Di Da Di
Post by Ethical Egoist
Post by XiaoMei
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
ardeedee
2004-05-26 04:12:09 UTC
Permalink
What about the promises of "Swiss standards of living", "more good years"
etc while for the past 8 years the economy has been slipping and
unemployment is rising and retrenchments taking more effect?
Building a hospital is very easy with the public funds at their disposal and
with the slate of civil sevants to do the donkey work .

Take sports - they cannot even raise the standard of soccer for the past 20
years beyond the level of 1970s and we are well below even Vietnam who gave
us a head start and only started to go modern in the 90s and we lose to
Vietnam and maybe soon lose to Cambodia and Laos.

Wake up all is not rosy and we are telling you to please take cognizance of
your environment and surroundings - the people are restless and MIW are
still keeping ahead with their wages while the rest of Singapore are losing
theirs or in danger.

Wake up or you might find yourself isolated.

Proof of the pudding is to hold elections now.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
globalise
2004-05-26 05:09:26 UTC
Permalink
Strong words but I suppose it reflect the sentiments in the coffeeshops.
Post by ardeedee
What about the promises of "Swiss standards of living", "more good years"
etc while for the past 8 years the economy has been slipping and
unemployment is rising and retrenchments taking more effect?
Building a hospital is very easy with the public funds at their disposal and
with the slate of civil sevants to do the donkey work .
Take sports - they cannot even raise the standard of soccer for the past 20
years beyond the level of 1970s and we are well below even Vietnam who gave
us a head start and only started to go modern in the 90s and we lose to
Vietnam and maybe soon lose to Cambodia and Laos.
Wake up all is not rosy and we are telling you to please take cognizance of
your environment and surroundings - the people are restless and MIW are
still keeping ahead with their wages while the rest of Singapore are losing
theirs or in danger.
Wake up or you might find yourself isolated.
Proof of the pudding is to hold elections now.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side of
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,'
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large agri-businesses
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Di Da Di
2004-05-27 16:26:30 UTC
Permalink
Actually it is very easy to test how good the minister is. Rotate a minister
to run and raise the soccer standard. If minister cannot even raise a simple
soccer standard, then its show he is not worthy as a minister.
Post by ardeedee
What about the promises of "Swiss standards of living", "more good years"
etc while for the past 8 years the economy has been slipping and
unemployment is rising and retrenchments taking more effect?
Building a hospital is very easy with the public funds at their disposal and
with the slate of civil sevants to do the donkey work .
Take sports - they cannot even raise the standard of soccer for the past 20
years beyond the level of 1970s and we are well below even Vietnam who gave
us a head start and only started to go modern in the 90s and we lose to
Vietnam and maybe soon lose to Cambodia and Laos.
Wake up all is not rosy and we are telling you to please take cognizance of
your environment and surroundings - the people are restless and MIW are
still keeping ahead with their wages while the rest of Singapore are losing
theirs or in danger.
Wake up or you might find yourself isolated.
Proof of the pudding is to hold elections now.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side of
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks
lined
Post by ardeedee
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by ardeedee
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,'
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result
in
Post by ardeedee
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large agri-businesses
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
turtlesoup
2004-05-27 17:31:13 UTC
Permalink
On Fri, 28 May 2004 00:26:30 +0800, "Di Da Di" <***@nikonreal.co.uk> wrote:

It's also easy to test your brain, if you jump down your leased pigeon hole and
survive than you are good.


Tweety Soul
Post by Di Da Di
Actually it is very easy to test how good the minister is. Rotate a minister
to run and raise the soccer standard. If minister cannot even raise a simple
soccer standard, then its show he is not worthy as a minister.
ardeedee
2004-05-27 16:56:32 UTC
Permalink
Yes they can talk alot and boast of the good life etc but if they do not
know how to raise standard of soccer in Singapore to surpass even SEAP games
teams they are useless and destroying the dreams and aspirations of
thousands of young kids eager to make soccer a living.
Post by Di Da Di
Actually it is very easy to test how good the minister is. Rotate a minister
to run and raise the soccer standard. If minister cannot even raise a simple
soccer standard, then its show he is not worthy as a minister.
Post by ardeedee
What about the promises of "Swiss standards of living", "more good years"
etc while for the past 8 years the economy has been slipping and
unemployment is rising and retrenchments taking more effect?
Building a hospital is very easy with the public funds at their disposal
and
Post by ardeedee
with the slate of civil sevants to do the donkey work .
Take sports - they cannot even raise the standard of soccer for the past
20
Post by ardeedee
years beyond the level of 1970s and we are well below even Vietnam who
gave
Post by ardeedee
us a head start and only started to go modern in the 90s and we lose to
Vietnam and maybe soon lose to Cambodia and Laos.
Wake up all is not rosy and we are telling you to please take cognizance
of
Post by ardeedee
your environment and surroundings - the people are restless and MIW are
still keeping ahead with their wages while the rest of Singapore are
losing
Post by ardeedee
theirs or in danger.
Wake up or you might find yourself isolated.
Proof of the pudding is to hold elections now.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises,
not
Post by ardeedee
Post by XiaoMei
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make
tempered
Post by ardeedee
Post by XiaoMei
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and
consultation.
Post by Di Da Di
In
Post by ardeedee
Post by XiaoMei
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side of
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There
are
Post by ardeedee
Post by XiaoMei
occasional industrial parks along the way, with neat rows of trucks
lined
Post by ardeedee
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by ardeedee
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with
mangrove
Post by ardeedee
Post by XiaoMei
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan
Singh
Post by ardeedee
Post by XiaoMei
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that
along
Post by ardeedee
Post by XiaoMei
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one
knows
Post by ardeedee
Post by XiaoMei
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an
orderly
Post by ardeedee
Post by XiaoMei
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,'
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several
agencies
Post by ardeedee
Post by XiaoMei
exist to invite such investment, they are run with the traditional mix
of
Post by ardeedee
Post by XiaoMei
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense
of
Post by ardeedee
Post by XiaoMei
comfort because foreign institutional investors (FIIs) have been
active
Post by Di Da Di
in
Post by ardeedee
Post by XiaoMei
the equities market here. This year, net equity inflows into India
touched
Post by ardeedee
Post by XiaoMei
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This
month
Post by ardeedee
Post by XiaoMei
alone, investors pulled US$3.8 billion out from Asian markets; last
week,
Post by ardeedee
Post by XiaoMei
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and
Industry,
Post by ardeedee
Post by XiaoMei
are certain to be vexed by the question of where to turn. If the
Manmohan
Post by ardeedee
Post by XiaoMei
Singh government slows the privatisation drive, that alone would result
in
Post by ardeedee
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's
virtually
Post by ardeedee
Post by XiaoMei
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits
amount
Post by Di Da Di
to
Post by ardeedee
Post by XiaoMei
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping
this
Post by ardeedee
Post by XiaoMei
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large agri-businesses
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial
exigencies
Post by ardeedee
Post by XiaoMei
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Lau Niu
2004-05-28 01:16:24 UTC
Permalink
SEAP game no more, SEA game now.
Post by ardeedee
Yes they can talk alot and boast of the good life etc but if they do not
know how to raise standard of soccer in Singapore to surpass even SEAP games
teams they are useless and destroying the dreams and aspirations of
thousands of young kids eager to make soccer a living.
Post by Di Da Di
Actually it is very easy to test how good the minister is. Rotate a
minister
Post by Di Da Di
to run and raise the soccer standard. If minister cannot even raise a
simple
Post by Di Da Di
soccer standard, then its show he is not worthy as a minister.
Post by ardeedee
What about the promises of "Swiss standards of living", "more good
years"
Post by Di Da Di
Post by ardeedee
etc while for the past 8 years the economy has been slipping and
unemployment is rising and retrenchments taking more effect?
Building a hospital is very easy with the public funds at their disposal
and
Post by ardeedee
with the slate of civil sevants to do the donkey work .
Take sports - they cannot even raise the standard of soccer for the past
20
Post by ardeedee
years beyond the level of 1970s and we are well below even Vietnam who
gave
Post by ardeedee
us a head start and only started to go modern in the 90s and we lose to
Vietnam and maybe soon lose to Cambodia and Laos.
Wake up all is not rosy and we are telling you to please take cognizance
of
Post by ardeedee
your environment and surroundings - the people are restless and MIW are
still keeping ahead with their wages while the rest of Singapore are
losing
Post by ardeedee
theirs or in danger.
Wake up or you might find yourself isolated.
Proof of the pudding is to hold elections now.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises
just
Post by Di Da Di
Post by ardeedee
to
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to
how
Post by Di Da Di
Post by ardeedee
the
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises,
not
Post by ardeedee
Post by XiaoMei
because they are less ambitious, but because they are more aware of
the
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
country's economic and social situation and would prefer to make
tempered
Post by ardeedee
Post by XiaoMei
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon -
sure
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by XiaoMei
are undoubtedly made after very careful consideration and
consultation.
Post by Di Da Di
In
Post by ardeedee
Post by XiaoMei
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we
have
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start
all
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New
Delhi
Post by Di Da Di
Post by ardeedee
by
Post by XiaoMei
a six-lane highway. Verdant fields of maize roll away on either side
of
Post by Di Da Di
Post by ardeedee
the
Post by XiaoMei
road, and in the fields are tractors driven by healthy peasants. There
are
Post by ardeedee
Post by XiaoMei
occasional industrial parks along the way, with neat rows of trucks
lined
Post by ardeedee
up
Post by XiaoMei
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of
well-laid-out
Post by ardeedee
Post by XiaoMei
apartment buildings, schools with large yards, streets lined with
mangrove
Post by ardeedee
Post by XiaoMei
and plane trees, a movie theatre or two, a busy bazaar swarming with
buyers.
Post by XiaoMei
The township houses bureaucrats, academicians and white-collar
workers -
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan
Singh
Post by ardeedee
Post by XiaoMei
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open
to
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
foreign investment as it seeks to speed up modernisation for its 1.1
billion
Post by XiaoMei
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that
along
Post by ardeedee
Post by XiaoMei
with foreign direct investment (FDI), there would be massive
government
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
investment in infrastructure development, agriculture and job
generation
Post by Di Da Di
Post by ardeedee
in
Post by XiaoMei
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one
knows
Post by ardeedee
Post by XiaoMei
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an
orderly
Post by ardeedee
Post by XiaoMei
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia,
Thailand
Post by Di Da Di
Post by ardeedee
and
Post by XiaoMei
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to
offer,'
Post by Di Da Di
Post by ardeedee
says
Post by XiaoMei
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble
India.
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
'Despite the economic liberalisation of recent years, there's this
lingering
Post by XiaoMei
image of an India knotted by red tape and bureaucratic controls. The
foreign
Post by XiaoMei
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are
welcome
Post by ardeedee
in
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
India. They need to be told clearly that our economic reforms will
continue.
Post by XiaoMei
They need to be told that India is aiming for a 7 per cent to 8 per
cent
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax
laws,
Post by ardeedee
a
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several
agencies
Post by ardeedee
Post by XiaoMei
exist to invite such investment, they are run with the traditional mix
of
Post by ardeedee
Post by XiaoMei
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense
of
Post by ardeedee
Post by XiaoMei
comfort because foreign institutional investors (FIIs) have been
active
Post by Di Da Di
in
Post by ardeedee
Post by XiaoMei
the equities market here. This year, net equity inflows into India
touched
Post by ardeedee
Post by XiaoMei
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have
received
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
US$45 billion, with South Korea again topping the list with US$24.7
billion.
Post by XiaoMei
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This
month
Post by ardeedee
Post by XiaoMei
alone, investors pulled US$3.8 billion out from Asian markets; last
week,
Post by ardeedee
Post by XiaoMei
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and
Industry,
Post by ardeedee
Post by XiaoMei
are certain to be vexed by the question of where to turn. If the
Manmohan
Post by ardeedee
Post by XiaoMei
Singh government slows the privatisation drive, that alone would
result
Post by Di Da Di
in
Post by ardeedee
a
Post by XiaoMei
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's
virtually
Post by ardeedee
Post by XiaoMei
certain that new taxes will be applied on entertainment, first-class
travel
Post by XiaoMei
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the
formidable
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
deposits of non-resident Indians (NRIs) be taxed. These deposits
amount
Post by Di Da Di
to
Post by ardeedee
Post by XiaoMei
more than US$4 billion annually. The danger is NRIs pulling out their
money
Post by XiaoMei
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping
this
Post by ardeedee
Post by XiaoMei
money for domestic expenditures.
It's also difficult to see how the new government is going to raise
new
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
public money to boost agricultural production, especially since the
national
Post by XiaoMei
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of
small
Post by XiaoMei
and medium-size farms to lease out their land to large
agri-businesses
Post by ardeedee
Post by Di Da Di
Post by ardeedee
that
Post by XiaoMei
could exponentially increase production and thus generate taxable
revenues.
Post by XiaoMei
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the
government
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national
economic
Post by XiaoMei
policy is usually shaped not by common sense or even financial
exigencies
Post by ardeedee
Post by XiaoMei
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in
his
Post by Di Da Di
Post by ardeedee
Post by XiaoMei
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
wiseguy
2004-05-26 09:12:03 UTC
Permalink
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
That election promise was made how many donkey years ago, and it's still on
the way??!!!
So when is it going to be ready? 'Happen to be' in the next election izit?

And btw, whatever happened to that "More Good Years" pledge or that 'CPF cut
restoration' promise?
Papists acting blur or what?

[snip]
truth
2004-05-26 11:30:48 UTC
Permalink
Yes, the pap also make wild promises like more
good years and swiss standard of living which they
have failed to fulfill.

Not only Indian politicians or opposition politicians
are guilty but ALL politicians including the pap
miw are guilty of making
promises which were forgotten the moment they are
elected.
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
t***@notrashmagix.com.sg
2004-05-28 06:56:52 UTC
Permalink
Post by truth
Yes, the pap also make wild promises like more
good years and swiss standard of living which they
have failed to fulfill.
Not only Indian politicians or opposition politicians
are guilty but ALL politicians including the pap
miw are guilty of making
promises which were forgotten the moment they are
elected.
Before election we are told we will have upgrading. After election we
are told "only interim upgrading
Before election we are told that jobs were most important issue on the
agenda. After election we are told that FTs are here to stay. Such
"honesty" truly baffles me.


SIAOGU

The husband is the head of the house. The wife is the neck. And the neck turns the head.
Turtle Soup
2004-05-28 13:47:59 UTC
Permalink
Post by t***@notrashmagix.com.sg
Before election we are told we will have upgrading. After election we
are told "only interim upgrading
Before election we are told that jobs were most important issue on the
agenda. After election we are told that FTs are here to stay. Such
"honesty" truly baffles me.
You are too dumb and don't deserve honest opposition!
ardeedee
2004-05-28 13:34:52 UTC
Permalink
All you people deserve the govt you get - hahaha - you have exercised your
vote on communal considerations so enjoy.
Post by Turtle Soup
Post by t***@notrashmagix.com.sg
Before election we are told we will have upgrading. After election we
are told "only interim upgrading
Before election we are told that jobs were most important issue on the
agenda. After election we are told that FTs are here to stay. Such
"honesty" truly baffles me.
You are too dumb and don't deserve honest opposition!
Turtle Soup
2004-05-28 17:10:53 UTC
Permalink
Post by ardeedee
All you people deserve the govt you get - hahaha - you have exercised your
vote on communal considerations so enjoy.
You too deserve what you sow.
ardeedee
2004-05-28 17:16:48 UTC
Permalink
But I can laugh when you who voted PAP against seranis etc now complain.
Post by Turtle Soup
Post by ardeedee
All you people deserve the govt you get - hahaha - you have exercised your
vote on communal considerations so enjoy.
You too deserve what you sow.
Turtle Soup
2004-05-28 19:10:16 UTC
Permalink
On Sat, 29 May 2004 01:16:48 +0800, "ardeedee" <***@hotmail.com> wrote:

I will vote for PAP, so people like you will suffer till you die!
Post by ardeedee
But I can laugh when you who voted PAP against seranis etc now complain.
Post by Turtle Soup
Post by ardeedee
All you people deserve the govt you get - hahaha - you have exercised
your
Post by Turtle Soup
Post by ardeedee
vote on communal considerations so enjoy.
You too deserve what you sow.
ardeedee
2004-05-29 01:45:30 UTC
Permalink
But it is you who are suffering the most - most seranis emigrate as they are
much prized in neighbouring countries for their talent et al. - but those
like you who have less talent than the current mother country emigrants have
no choice except to be downgraded by the talented foreigners to menial jobs
by the same people you voted for - your PAPists?

HA ha ha -what a web of deceit and foolery these Chinese Singaporeans weave
on their own kind?
Post by Turtle Soup
I will vote for PAP, so people like you will suffer till you die!
Post by ardeedee
But I can laugh when you who voted PAP against seranis etc now complain.
Post by Turtle Soup
Post by ardeedee
All you people deserve the govt you get - hahaha - you have exercised
your
Post by Turtle Soup
Post by ardeedee
vote on communal considerations so enjoy.
You too deserve what you sow.
t***@notrashmagix.com.sg
2004-05-31 04:56:40 UTC
Permalink
On Fri, 28 May 2004 07:47:59 -0600, Turtle Soup
Post by Turtle Soup
You are too dumb and don't deserve honest opposition!
Being dumb can sometimes be a blessing :)


SIAOGU

The husband is the head of the house. The wife is the neck. And the neck turns the head.
Darth BiRdYz
2004-05-26 11:51:29 UTC
Permalink
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
It's like about 10 days that a Congress gover-min is in power. Who the fuck
are you to say that they can't realize those promises?
Post by XiaoMei
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
And they were like the Tali-PAP too... coming up with policies and touted
about 'economic progress' that benefits only the rich. Had they been more
aware of the country's REAL social situation, the Congress party under Sonia
Gandhi has no chance at all.
Post by XiaoMei
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
And where did they take that hospital away from? The west - JURONG.

Either way, I have gone thru ripping this shit arguments to shred before. So
much for that.
Post by XiaoMei
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
Yes. Singapore indeed need to be careful.

Based on what do you say that the opposition is inexperienced? What
experiments have they conducted to be considered a failure? You mouth
propaganda like Soviet Commissars. And you know shit about leadership. All
you know is authority.

And that's what the Tali-PAP is - THE AUTHORITIES.

As for leadership? It's more like lea-DUH-ship!

Go to hell, fuckwit.
Joe
2004-05-26 12:51:38 UTC
Permalink
The opposition in India merely pointed out the truth they didn't have to
make up any lies.
In Indian elections even if your successful party delivering on your
promises you still don't
have any guarantee of being reelected. This is especially true at state
level elections.
Post by Darth BiRdYz
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
It's like about 10 days that a Congress gover-min is in power. Who the fuck
are you to say that they can't realize those promises?
Post by XiaoMei
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
And they were like the Tali-PAP too... coming up with policies and touted
about 'economic progress' that benefits only the rich. Had they been more
aware of the country's REAL social situation, the Congress party under Sonia
Gandhi has no chance at all.
Post by XiaoMei
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
And where did they take that hospital away from? The west - JURONG.
Either way, I have gone thru ripping this shit arguments to shred before. So
much for that.
Post by XiaoMei
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
Yes. Singapore indeed need to be careful.
Based on what do you say that the opposition is inexperienced? What
experiments have they conducted to be considered a failure? You mouth
propaganda like Soviet Commissars. And you know shit about leadership. All
you know is authority.
And that's what the Tali-PAP is - THE AUTHORITIES.
As for leadership? It's more like lea-DUH-ship!
Go to hell, fuckwit.
SeMenChink
2004-05-26 14:33:35 UTC
Permalink
Somebody once, when inopposition in the early colonial days, extolled
the benefits of democracy, but after crossing the bridge, he removed
the plank. So who is the biggest liar of them all?

One brain celled Xiao Charbor is from the mInistry of Propaganda and
"Truth". Daughter of Dr Gobbells himself.
Post by Joe
The opposition in India merely pointed out the truth they didn't have to
make up any lies.
In Indian elections even if your successful party delivering on your
promises you still don't
have any guarantee of being reelected. This is especially true at state
level elections.
Post by Darth BiRdYz
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just
to
Post by Darth BiRdYz
Post by XiaoMei
get elected. However, once elected, they find themselves lost as to how
the
Post by Darth BiRdYz
Post by XiaoMei
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
It's like about 10 days that a Congress gover-min is in power. Who the
fuck
Post by Darth BiRdYz
are you to say that they can't realize those promises?
Post by XiaoMei
The incumbent Government is often more conservative in their promises,
not
Post by Darth BiRdYz
Post by XiaoMei
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
And they were like the Tali-PAP too... coming up with policies and touted
about 'economic progress' that benefits only the rich. Had they been more
aware of the country's REAL social situation, the Congress party under
Sonia
Post by Darth BiRdYz
Gandhi has no chance at all.
Post by XiaoMei
For example, in the last election, Associate Professor Ho Peng Kee
observed
Post by Darth BiRdYz
Post by XiaoMei
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent
Government
Post by Darth BiRdYz
Post by XiaoMei
are undoubtedly made after very careful consideration and consultation.
In
Post by Darth BiRdYz
Post by XiaoMei
other words, they are not blind election gimmicks but fully realizable
objectives.
And where did they take that hospital away from? The west - JURONG.
Either way, I have gone thru ripping this shit arguments to shred before.
So
Post by Darth BiRdYz
much for that.
Post by XiaoMei
A small country like Singapore has to be even more careful, because we
have
Post by Darth BiRdYz
Post by XiaoMei
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
Yes. Singapore indeed need to be careful.
Based on what do you say that the opposition is inexperienced? What
experiments have they conducted to be considered a failure? You mouth
propaganda like Soviet Commissars. And you know shit about leadership. All
you know is authority.
And that's what the Tali-PAP is - THE AUTHORITIES.
As for leadership? It's more like lea-DUH-ship!
Go to hell, fuckwit.
truth
2004-05-27 10:10:06 UTC
Permalink
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Tweety Soul³
2004-05-27 13:31:09 UTC
Permalink
Post by truth
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Yes!

More good years for everyone (PAP and families)
Kaypoh
2004-05-27 16:07:21 UTC
Permalink
Post by truth
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Not happy here then go to Swaziland lor.
turtlesoup
2004-05-27 17:31:46 UTC
Permalink
On Fri, 28 May 2004 00:07:21 +0800, "Kaypoh" <***@yehoo.com> wrote:

Why you going too meh?

Tweety Soul
Lau Niu
2004-05-28 01:17:24 UTC
Permalink
You are pap-smear gang also?
Post by Kaypoh
Post by truth
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Not happy here then go to Swaziland lor.
truth
2004-05-28 12:02:17 UTC
Permalink
You know I cannot see Kaypoh's rejoinder to my posting.
I sometime cannot see Mr. nodeal.
I have a suspicision that these people are under the control of
the pap.
Some of my posting also disappeared onite.

Why are the pap multi$million ministers so scare of knowing
the truth ?
Post by Lau Niu
You are pap-smear gang also?
Post by Kaypoh
Post by truth
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Not happy here then go to Swaziland lor.
ardeedee
2004-05-28 13:32:44 UTC
Permalink
Don't be paranoid - there are too many problems security wise to worry about
inanes here.
Post by truth
You know I cannot see Kaypoh's rejoinder to my posting.
I sometime cannot see Mr. nodeal.
I have a suspicision that these people are under the control of
the pap.
Some of my posting also disappeared onite.
Why are the pap multi$million ministers so scare of knowing
the truth ?
Post by Lau Niu
You are pap-smear gang also?
Post by Kaypoh
Post by truth
The pap politicians promised Singaporeans swiss standard of
living and more good years. Did they delivered ?
Not happy here then go to Swaziland lor.
TuLang
2004-05-27 10:48:43 UTC
Permalink
Even the town council senior manager also dare to tell open lie despite
knowing the contraversy fact ....
Post by XiaoMei
The recent India election has an important lesson for us all. That
Oppositionists in desperation may make wild and impossible promises just to
get elected. However, once elected, they find themselves lost as to how the
promises can ever be realized. Probably never.
In other words, they lie. Empty promises.
The incumbent Government is often more conservative in their promises, not
because they are less ambitious, but because they are more aware of the
country's economic and social situation and would prefer to make tempered
promises that has a chance to being implemented.
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
A small country like Singapore has to be even more careful, because we have
very little room for the failed experiments that these inexperienced
Oppositionists has lined up for us. We simply cannot afford to start all
over again. We simply don't want to start all over again.
---
Election over, now to fund those promises
ST 26/5/2004
By PRANAY GUPTE
FOR THE STRAITS TIMES
PARPATGANJ (India) - This community is about an hour away from New Delhi by
a six-lane highway. Verdant fields of maize roll away on either side of the
road, and in the fields are tractors driven by healthy peasants. There are
occasional industrial parks along the way, with neat rows of trucks lined up
behind factories. Billboards advertise a vast array of consumer goods.
Parpatganj suddenly shows up beyond a turn - row upon row of well-laid-out
apartment buildings, schools with large yards, streets lined with mangrove
and plane trees, a movie theatre or two, a busy bazaar swarming with buyers.
The township houses bureaucrats, academicians and white-collar workers -
members of India's growing middle class.
This is the India that the new government of Prime Minister Manmohan Singh
wants the world to know more about: an India of well-planned towns,
productive fields and factories, a country of ample availability of
affordable consumer durables - a nation, in other words, that's open to
foreign investment as it seeks to speed up modernisation for its 1.1 billion
people.
Yesterday, Dr Singh's Finance Minister, Dr P. Chidambaram, said that along
with foreign direct investment (FDI), there would be massive government
investment in infrastructure development, agriculture and job generation in
the manufacturing sector so as to accelerate economic development.
There's one problem with all these lofty ambitions, however: No one knows
where the money's going to come from. Foreign investors aren't exactly
rushing to India, notwithstanding the recent elections that saw an orderly
transition of power from the National Democratic Alliance to the
Congress-led United Progressive Alliance.
The question of foreign investment is especially sensitive because it
directly pits India against neighbours such as China, Malaysia, Thailand and
Pakistan. India received some US$3 billion (S$5.2 billion) last year,
compared to US$53 billion for China and US$10 billion for Thailand.
'This is a puny figure, especially in view of what India has to offer,' says
Mr Gurcharan Das, an economist and former CEO of Procter & Gamble India.
'Despite the economic liberalisation of recent years, there's this lingering
image of an India knotted by red tape and bureaucratic controls. The foreign
investor just isn't given the kind of hospitable reception that China
gives.'
Mr Salman Haidar, former foreign secretary of India, added: 'Foreign
investors need to be told in no uncertain terms that they are welcome in
India. They need to be told clearly that our economic reforms will continue.
They need to be told that India is aiming for a 7 per cent to 8 per cent
annual growth rate - and that it's not going to revert to being an
inward-looking economy... Investors need to be told that favourable
conditions remain for their money - skilled labour, generous tax laws, a
good infrastructure, political stability.'
But India hasn't made any special play for FDI. Although several agencies
exist to invite such investment, they are run with the traditional mix of
lethargy and bureaucratic rigidity.
To some degree, Indian officialdom may be lulled by a misleading sense of
comfort because foreign institutional investors (FIIs) have been active in
the equities market here. This year, net equity inflows into India touched
US$3.4 billion, second in Asia only to South Korea, which has received
US$10.7 billion.
In the 12 months since last May, emerging markets in Asia have received
US$45 billion, with South Korea again topping the list with US$24.7 billion.
Taiwan got US$11 billion. India's share has been US$9.7 billion.
Inflows into the equity markets, however, are highly volatile. This month
alone, investors pulled US$3.8 billion out from Asian markets; last week,
after communist allies of the Congress party came down hard against
privatisation of public-sector behemoths, foreign investors pulled out
millions of dollars from the Mumbai Stock Exchange.
Dr Chidambaram and Mr Kamal Nath, the Minister for Commerce and Industry,
are certain to be vexed by the question of where to turn. If the Manmohan
Singh government slows the privatisation drive, that alone would result in a
shortfall of billions of dollars for the treasury.
Since the tax base cannot be enlarged much, one solution would be to
increase tax rates on the wealthy. In next month's budget, it's virtually
certain that new taxes will be applied on entertainment, first-class travel
and luxury hotels.
Yesterday, the Reserve Bank of India even suggested that the formidable
deposits of non-resident Indians (NRIs) be taxed. These deposits amount to
more than US$4 billion annually. The danger is NRIs pulling out their money
and placing it elsewhere.
There's also more than US$118 billion that India has accumulated in
foreign-exchange reserves - but the government has ruled out tapping this
money for domestic expenditures.
It's also difficult to see how the new government is going to raise new
public money to boost agricultural production, especially since the national
deficit is 4.8 per cent of the US$600 billion gross domestic product.
Indian farmers are traditionally exempt from any taxation. Economist
Gurcharan Das has suggested that the government should allow owners of small
and medium-size farms to lease out their land to large agri-businesses that
could exponentially increase production and thus generate taxable revenues.
India has more arable land than China and this country's competitive
advantage in agriculture, says Mr Das, can be enhanced if the government
promotes low-cost programmes such as drip irrigation.
But the very thought of letting big corporations into agriculture is
anathema to the leftist allies of the ruling Congress. And national economic
policy is usually shaped not by common sense or even financial exigencies
but by hardcore politics.
Prime Minister Singh may soon have to start printing rupee notes in his
basement to pay for the promises of his government.
The writer is a veteran commentator on international affairs.
Tweety Soul³
2004-05-27 13:31:48 UTC
Permalink
Post by TuLang
Even the town council senior manager also dare to tell open lie despite
knowing the contraversy fact ....
Of course everyone lies, why NOT?
t***@notrashmagix.com.sg
2004-05-28 06:56:53 UTC
Permalink
Post by XiaoMei
For example, in the last election, Associate Professor Ho Peng Kee observed
that Northern Singapore lacks a full-scale hospital. So in an election
speech he promised Nee Soon residents of their own hospital soon - sure
enough, a hospital is on the way. Such promises by the incumbent Government
are undoubtedly made after very careful consideration and consultation. In
other words, they are not blind election gimmicks but fully realizable
objectives.
Oh puhleeze! Get your facts right! Let's talk about a similar issue. A
proposed polyclinic was built in Nee Soon Central using taxpayers'
money. But because the residents voted in an opposition memebr, that
building that was left standing, and used as a kindergarten as well as
leased to private dovtors who spent millions equipping it with high
tech medical equipment, not to mention money spent on renovations and
so on. But as soon as the PAP won back the constituency, these doctors
were then told to get the fuck out of the building.

As a result, all the money they spent in the setup and infrastructure
was lost, and the government just took over to and opened a polyclinic
just to show the people that they "kept their promise" But at what
price? I would rather not have the polyclinic if it means that my
fellow countrymen had to pay such a hefty sacrifice for it, as each
time I visit it, it brings those bitter memories to my mind. I was one
of those who voted for the PAP candidate, Ong Ah Heng that election.
The reason I did it is because he personally knocked on my door to
give me the election brochure, something the opposition candidate Cheo
Chai Chen failed to do. Unfortunately, their high handed action made
me regret it.

Guess why so many talents chose to migrate? It makes me ashamed to be
a Singaporean. The whole world can see how petty our govt is. Such
immaturity is displayed shamelessly by our leaders and yet they can
tell us that they are the best.


SIAOGU

The husband is the head of the house. The wife is the neck. And the neck turns the head.
Turtle Soup
2004-05-30 04:22:07 UTC
Permalink
On Wed, 26 May 2004 19:52:16 +0800, "Kaypoh" <***@yehoo.com> wrote:

Hey, for once I found someone agreeing with me here!
Can I buy you a dinner?
We already have the best government in the world so we don't need
Oppositionists in Northern Singapor.
Lau Niu
2004-05-30 04:44:28 UTC
Permalink
we only need them in the parliament.
Post by Turtle Soup
Hey, for once I found someone agreeing with me here!
Can I buy you a dinner?
We already have the best government in the world so we don't need
Oppositionists in Northern Singapor.
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