When Jim Rogers, legendary maverick investor, attacked NAMO for “Only talk and no action”, a lot of people dismissed his criticism as the ranting of a foreigner with no idea of the ground realities in India.
However, when the highly respected and distinguished Deepak Parekh says the same thing, it is more serious and requires careful consideration.
Deepak Parekh of HDFC is the first citizen of corporate India. He is the “guiding voice” of India and his views are held in utmost esteem.
It is very rare for people in that elite echelon of society to publicly criticize the Government. However, when they do, it is to send a clear message to the powers-that-be that big-bang reforms are required.
In his latest interview, Deepak Parekh did not mince words. “Nothing has changed in the Modi Raj” he said. “… after nine months, there is a little bit of impatience creeping in as to why no changes are happening and why this is taking so long having effect on the ground” he added.
Deepak Parekh also sent a veiled threat that NAMO is enjoying a “lucky period” owing to the fall in world commodity prices, implying that NAMO could not claim full credit for the feel-good factor and bonhomie that the markets are presently witnessing.
As if to counter the hostile press that NAMO has been getting lately, Nitin Gadkari came on record to state that “NAMO Will accomplish in five years what has not been done in the past 25 years”. Gadkari gave impressive facts and figures of what the Government has already achieved in the past nine months. He also laid out a road map for what is being planned for the future.
Towards the end, Gadkari slipped in a clear message that there would be big-bang reforms in the Budget. He said:
“The finance minister has his own constraints. But he is very positive about infrastructure. The budget should be very good for our shipping, inland waterways etc. I have requested for green energy incentives as well.”
In my view, the writing is on the wall. The concerted attack on NAMO from various quarters, coupled with the humiliating defeat to AAP, means that NAMO will have to retaliate with big-bang reforms in the Budget.
This will send the markets flying. We need to position ourselves carefully so that we get maximum bang for the buck.
If you want stock ideas, you can look up what leading experts have recommended.
Is the govt. only supposed to work for investors, business…what about the people of the country..any govt. should work for the poor first…Modiji has said that the resources of the govt. belong to the poor first…and as far a budget is concerned I really do not care…a good investor should invest on the basis of fundamentals of the company not on govt. policy the best companies have worked their way through govt. policies and have been successful
absolutely right. it is greedy corporate honchos like Parekh and his ilk who are creating imbalance in the society. they want the government to do everything for their own selfish benefit. none of these people will ever put pressure on the government to do anything for the upliftment of the common person.
You are BJP supporter that doesn’t make other person greedy. Modi has practically done nothing to boost economy, he is just enjoying perk of falling international commodity prices.
Keep your political views away while looking at economy.
You must be an AAP supporter otherwise u won’t have said that he has done nothing otherwise no one can ignore coal auction, land ordinances, environmental clearences & many other
Well, politically I am neutral. But as a person who has been working in marketing field since last 5 years I see you pretty much put down your logical guard else you would have already known something that looks good on paper doesn’t really mean is good.
For example coal auctions, though government made lot of money there was no point in auctioning because it wasn’t auctioned on idea of commercial usage. Some mine got auctioned per tonne for 108 cr where as someone got same offer for above 3000 cr.
Even if we consider everything in terms of quality the difference is bigger than massive. Coal auctions weren’t success they were disaster in terms of commercial distribution.
Just out of curiosity, explain how land ordinance dilution was good decision. I would also like to know what you mean by many other good thing.
Was it buying gold before November when it was at running high in international market or not reducing prices of petrol as prices or crude oil were falling in international market.
Or was it allowing online shopping websites evade taxes so that they can sell products for 25 to 50% discount on MRP and increasing local taxes thus disabling local retail business to provide better discounts to their online counterparts.
Either you are not smart enough to understand after effects and persuasive marketing or your judgement is too much based on personal favor.
A good economic analysis is based on how different policies will affect all 3 economic classes which includes BPL, middle class and high class.
Plus increase in purchasing power per individual either by reducing prices or increasing purchasing power.
Saying coal auction is not right can only be supported by fans of’zero loss’ theory fans by sibalji.Land reform is also bad, FDI in telecom is bad, online retail is bad,GST is bad so govt. is not performing & u know what u are just reading ur Leftist AAP’s manifesto then remember old leftist saying stock markets are casinos so they too are bad
Deepak Parekh should be the last person cribbing about Namo doing nothing. He is part of all these sarkari committees. what is he doing in them? his statements are like cutting the tree branch, one is sitting on
Just because the corrupt main stream media won’ t cover Modi’s achievements does not mean that he is sitting idle. Here’s a neutral website that exposes the media –
mediacrooks.com
@siddhant
We are not talking about markets here, we are talking about has Modi really done something constructive to boost economy, the answer is no.
No one said GST was bad but that wasn’t BJP’s idea, congress came with it, next GST hasn’t got successfully implemented and state based retails and small businesses still have to pay excise duty, octroi, central sales tax, local body tax and value-added tax.
Most of which online retails don’t. That is unfair because online retails thus become way too cheaper than local counterparts since they don’t have to pay these taxes.
You seem to be pretty sure new land ordinance reforms were benefits rather than puppeting just explain why you think new reforms are beneficial.
Again FDI isn’t all bad, but more than 51% FDI without standard regulations is bad.
It feels like you are one disgruntled Delhi guy who is angry because BJP lost to AAP there. Seems like you are hardcore BJP supporter hence everyone else according to you is either Congress or AAP.
Sorry to inform you but not everyone is political cultist like you.
LOL, OK u are not AAP or congress supporter but u are surely a Leftist so I don’t think u will ever like anything done by this government hence don’t pretend to analyze their every action just simply declare that whatever they do is wrong, simple!
Well by definition leftist is an individual who supports social equality and opposes social and religious hierarchy. If that’s exactly what you mean then there’s no shame in accepting it.
Second, rather than crying on political views, write something to support your argument else there’s no point in discussing anything with you because you don’t know nor you understand anything.
You are just a puppet to political marketing.
Thanks for accepting that u are a ‘Leftist’ & ur definition of Leftist is amazing keeping in mind that Left has produced leaders like Stalin, pol pot etc.
Well, you haven’t yet supported any of your argument about government has some role to provide economic boost other than favorable international conditions with any valid point.
By the way I am pretty sure you can not. Have a nice day.