1. Modi Sarkar’s Change Of Plan
Is the Narendra Modi government turning, gasp, leftwards? There have been many signals that indicate the government is keen to shed the corporate-friendly tag. Modi personally castigated corporates at the recent ET Global Business Summit, saying an “incentive” or “subvention” was just another word for a subsidy. In particular, he signalled out dividends and long term capital gains from the sale of shares—both are tax exempt. The government has also brought back the NREGA with a bang, and is putting more money into the implementation of the Food Security Act. Going by the flurry of recent announcements, the state-run enterprises may soon be pressed into creation of massive projects. Insiders say there’s eevn more to come.