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Topic : India Budget 2010
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Activity:  14 comments  1087 views  last activity : 07 06 2010 20:18:04 +0000
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Dear Hon. Finance Minister, To take on the massive task of nation building the budgetary provision shall be at least 10 times of what has been in the past year. Government need to quickly find ways and means to generate the massive wealth required for this.

Disinvestment of government owned business and service industries are generally being advocated as the most pertinent method. Definitely, these will help to some extent, though it has its attendant repercussion in the socio-economic front. Handing over the PSUs enblock to private sectors to a great extent will eventually end up in amassing wealth by the private industrial houses; only a small portion of it is likely to be pumped back into the projects needed for nation's growth.

What I would suggest is a diametrically opposite proposal. In every major private company of over 1000 crore capital outlay in India, Government should have a 10 % stake in the company by way of owning its share bought at the face value of share price. In other words, the companies should exclusively allocate 10% of the shares to Government at face value, which the government shall keep as it's stake in the company and can even do trading beyond this 10% holding at market price to take advantage of the appreciation in the share price. The annual profit generated from these share holdings can contribute to a great extent to the national budget needs and help to keep the deficit low.

Abraham Paul, e-mail: papaul@hotmail.com 

 Top Comment : Abraham Paul   | 02 21 2010 10:53:32 +0000
Even to double the current average per capita income of citizen of India, the input that has to be made as Public and Private investment and expenditure is astronomical. In order to be at par with the developed countries by the end of this decade, the governments need to drastically alter thier overall approach in the economic front. Hope the major national political parties would also rise to the occassion and take positive steps to add value and push the government to move in the righ path instead of making themselves of mere nuisance value to the process of governance.
 
15 comments on "Central Budget - An open letter to Hon. Finance Minister. "
  Commented by  Nagpal Singh, Sales and Business Development, Babel Group of companies    | 02 26 2010 07:14:51 +0000
Awesome, great idea...
  Commented by  Dr Ali Ahmad, Medical Superintendent, Surbhi Hospital    | 02 23 2010 07:14:26 +0000
Thanks for the referal Mr Bhave. Mr Abraham,truly an idea to think about and worth implementing,  very nice concept.
  Commented by  Anuj, Supports Intelligent Network Software, NSN    | 02 23 2010 06:11:45 +0000
Mind Blowing Sir.....Brilliant idea
  Commented by  Devi Kaladeen, Audit Manager, Health Sector Development Unit    | 02 23 2010 04:48:13 +0000
Rating : +1 
Mr. Abraham, Thanks for the referral. I always find your contributions interesting whether or not I agree with your point of view.This is the right direction to go, the government need to be advised up front on what to include in the national budget and ways and means to improve on investments .Unfortunately, they have so many advisors and financial consultants,etc yet the budget sometimes tend to amaze you.
  Commented by  ujjval jain, All roles for me, Abhishek Ent    | 02 23 2010 04:15:48 +0000
Rating : +1 
Sounds fine,,hope to reach fin min..

Thanks Nitin & Makrand for referring.
  Commented by  Shiuli Mukherji, Head Strategy Plan- , Region SEA    | 02 23 2010 03:19:34 +0000
Rating : +1 
I pray that this "Open letter", actually be read by the Hon.Finance Minister.

Tnx for the ref.
Rating : +1 
I extend my heartfelt thanks Mr.Makrand Bhave for the referral and in fact it is interesting to me. The idea suggested by Mr.Abraham Paul in connection with the Union Budget 2010 is triggering to think. It is really a good proposal for the economy growth of our country. Why can't our central government take initiative in this direction with a view to boost/accelerate our Indian economy to grow  
I extend my heartfelt thanks Mr.Makrand Bhave for the referral and in fact it is interesting to me. The idea suggested by Mr.Abraham Paul in connection with the Union Budget 2010 is triggering to think. It is really a good proposal for the economy growth of our country. Why can't our central government take initiative in this direction with a view to boost/accelerate our Indian economy to grow  
  Commented by  Abraham Paul, Managing Director, FCOMNET- Future Groups    | 02 22 2010 12:58:44 +0000
Rating : +1 
Thanks Mr. Aras and Mr. Bhave for your support. This is just a basic idea, As Mr.Aras mentioned, the economic stalwarts with RBI and SEBI can work out the details and the legal aspects. 

Please refer this to the e-mail id of of the office of the Finance Ministry, GOI and the official site of Congress Party.    
  Commented by  Tarun Mishra, Equity Dealer, Religare Securtites Limited    | 02 22 2010 12:52:42 +0000
Nice thought Paul, Appreciated!
  Commented by  Makrand Bhave, Marketing & MICE, WIZCRAFT International    | 02 22 2010 12:04:53 +0000
Rating : +1 
That is simply put... BRILLIANT!! Its my humble request to the Hon Finance Minister to please try and get Mr. Abraham Paul as your confidante and first advisor. I am sure the only logical outcome of his actions would be in favor of the Government and the Aam Junta (Mango People)... Mr. Paul i salute you Sir!! :)
  Commented by  Namrata Pathak, Accounts Manager, American Express    | 02 22 2010 10:16:15 +0000
Rating : +1 
Wonderful suggestion Mr.Paul. The government should take such innovative steps to raise fund for the country development.
  Commented by  Nitin M Aras, Head/VP/GM-Tech. Support, Wintech Taparia Limited    | 02 22 2010 09:06:46 +0000
Rating : +1 
Its a good suggestion to generate essential fund for nation growth.....I will refer to my all contacts and come back to you...because I feel some more inputs are required to make it more effective....

FYI Paul...when you refer the posts you will find a pop up manu where a contact link is given ...you can restore your contact list by post your complain through this contact link...

Appreciated...Thanks for referal
  Commented by  Abraham Paul, Managing Director, FCOMNET- Future Groups    | 02 21 2010 14:30:22 +0000
Toostep had imposed some restrictions in sending reference to my contacts, I would request my friends to refer this article to their contacts.
 Thanks, Paul
  Commented by  Abraham Paul, Managing Director, FCOMNET- Future Groups    | 02 21 2010 10:53:32 +0000
Rating : +1 
Even to double the current average per capita income of citizen of India, the input that has to be made as Public and Private investment and expenditure is astronomical. In order to be at par with the developed countries by the end of this decade, the governments need to drastically alter thier overall approach in the economic front. 
Hope the major national political parties would also rise to the occassion and take positive steps to add value and push the government to move in the righ path instead of making themselves of mere nuisance value to the process of governance.      
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