1. The Black Money Non-Starter
The BJP government seems to think stud farmer Hassan Ali Khan is the easiest route to getting back black money. But that’s easier said than done. In 2010, Ali was said to owe Rs 3,350 crore in back income taxes. But a CAG audit pointed out this stash is entirely “unrealisable”. Khan was thrown in jail during UPA’s tenure for “laundering” Rs 50,000 crore with his associate Kasinath Tapurias. For his part, Khan has denied he has an account in a Swiss bank, while UBS, the bank in question, has refused to share any details. The trial is a non-starter. The ED has asked Ali’s case to be put on “fast track”. Meaning—they want the trial to at least begin.
2. A Drone Too Far
Amazon’s plans to deliver packages using unmanned drones in the US may run into trouble with the US Federal Aviation Administration (FAA) raising issues with the use of “model
aircraft” for delivering products by charging a fee. This also has the potential to derail plans of using drones to deliver goods in India. About a month ago, Mumbai’s Francesco Pizzeria used a drone to deliver a pie to a Mumbai highrise as a pilot. But in India, the danger of having ambitious competitors shooting drones down midway is extremely high, say experts.
3. Blowback From The Budget
This week, all eyes are on the Modi government’s first budget. By all indications, it will be a show calibrated to highlight the roadmap to promised reforms. What can one expect? Well, the President’s address to Parliament does indicate an infrastructure push, particularly housing projects. Broad hints have been dropped by various ministers that social sector spending could go up. There will be incentives for manufacturing and exports, including sops for SEZs. In particular, a cut in gold import duty is likely to boost India’s gems and jewellery exports. A revision of kerosene and LPG cylinder price is unlikely. We’ll draw the line at predicting personal taxes.
Math
Living On Hope
In several years, June’s deficient rainfall has been made up in the following months
18% Of cows worldwide live in India, according to DairyCo. India recorded the fastest growth in cow population in 2013.
Coffee and Sensex
Asset price returns up to June 2014; India’s stocks set a scorching pace.
- Coffee 55.83%
- Nickel 34.32%
- Feeder Cattle 28.57%
- BSE 100 22.38%
- Palladium 17.59%
Source: Quartz
80million Number of visitors to the Dubai Mall each year, more than the Taj Mahal, Disneyland and Niagara Falls put together.
9-10 Cigarettes smokers in Calcutta blow up in a day as against 6-7 in Mumbai
Mojo
Want to watch YouTube videos in virtual reality?
Google has developed a virtual reality headset with two lenses that is made out of cardboard, comes with a D-I-Y kit, and costs under $2. It blends perfectly with Google apps like Streetview and Google Earth. Competitor to Facebook, Sony, Samsung.
Mind
This Week We Mourned…
It was the handholder for Indians in social networking and reigned as the preferred networking tool before the Facebook invasion. From September, it will be curtains for Google’s once popular Orkut which, in its decade-old existence, united friends, found partners and got people married, apart from providing a chill-out netzone for youngsters. Lately, it lost the game to Facebook and Twitter, with a majority of users coming from just Brazil and India. The final nail was driven in when teens, one of Orkut’s critical mass groups, moved to mobile apps like Snapchat and Instagram. So long, Orkut.
