'Money no longer bastion of those who had it in past, anyone can make money in India': Deepak Shenoy
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- čas přidán 7. 09. 2024
- #budget2024 #nirmalasitharaman #theprintdialogues #incometax
In an exclusive conversation with columnist Vir Sanghvi, Capitalmind CEO and Founder Deepak Shenoy, discusses the 2024 Budget, what increased taxes mean for the salaried class, emergency buffers, future of Indian economy and much more in #ThePrint Dialogues
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Brilliant interaction.
Both, Vir & Deepak did a commendable job. Many thanks to both.
Good guest
Good insights on finances .
Very insightful discussion
Two of my favourites. Enriched.
Truth will prevail.
One of the best interviews in recent times. Thanks for representing salary class🎉
The problem is that our Bania government has made India a nation of traders rather than manufacturers. The contribution of Manufacturing to our GDP has shrunk from 17-18 % to 13-14 % now. Manufacturing provides more jobs for every Rupee of GDP than trading does, and this has resulted in massive Unemployment.
Thankyou vir sir and Deepak sheboygan sir for the Good views.
Vir Sangvi, as sweet a narrator as I have found him for many decades 🎉❤🎉
Deepak Shenoy Ji
The budget should be viewed as a Vision Statement especially of the newly elected government & not merely profit and loss account of the government.
Can you say that
This budget is an ideal vehicle to make our people rich before they grow old.
I personally think that as in the last 10 years, this Government has again failed on this critical factor.
Nothing to say more
What nonsense is this guy saying. Salaried class in new tax system doesnt get any incentive of saving taxes on medical expenses or house rent or even investment in PF or Life insurance or even retirement corpus. The anchor didnt seem to contest this during the intervieq. Maybe the anchor himself hasnt done his homework or is playing on a safe ground. Just a dampenser or a sensitive issue which is paining the middle class the salaried class so badly. Just imagine in SLCG a guy who makes a profit of Rs. 1000/- pays the same rate of tax as those who earn a profit of 1 crore !!!! Whom are we kidding ?????.... why aint middle class being interviewed ???????? Aam Janta have no voice, thanks to the system.
Does the India have the know-how to make a reliable weaponry? In international community nobody talks about India as a great defence equipment manufacturer. And, India has to get self sufficient in many many other areas. But why this obsession only with defense sector?
Unless you start you will never develop that knowhow and from where are you getting that it's only about defence? From electronics to medical devices to chemicals there is a push in indigenous manufacturing in many fields. In defence we are still small but have made huge strides in the last 5-6 years. Just check out things like Brahmos, Pinaka MRBL, ATGS artillery and 155mm artillery shells and you will know.
@@sudip_curiousmind In five, six years nobody can make even small strides. It's all big propaganda of Modi. Missiles, India has been making for decades but nobody sensationalized it like Modi. And, Modi is talking about self-sufficiency in defence. But he goes and embraces a murderer and a war criminal like Putin. When people criticize it, Modi says "look, India is dependent on Russia for defence equipment, so am doing it in our interest". There goes your self sufficiency out of the window. By the way, Russia has been making defence equipment for the last fifty years. But their equipment is considered obsolete. It shows how difficult it is to achieve excellence in defence manufacturing when a country that is considered vastly experienced in this sector has hit a dead end. And, it speaks volumes about your own capability, when you are dependent on this very country. Talking of electronics, it's been thirty years since computer revolution and India to this day doesn't know how to make its own laptops and mobiles. Simply pathetic. And, India is busy calling itself a software leader when it has not invented even a single leading software and when most of its people run their lives on pirated Microsoft windows and office.
Great learning 🎉
Deepak is looking fit 😊. God bless
A person who has worked focusing on ensuring high expertise in any one skill (from good scientific plumbing to good scientific high-end bicycle repairman to AI programming, any skill) is never unemployed.
INDEXATION Removal is one of the best dicision from Govt's End .....🎉🎉
Mr Shenoy, those examples of paanwala don’t stand to any logic. The guys who know they won’t have to pay tax do it. But, go to any city, anywhere there are big fish who openly declare they except only cash. Just a recent visit to Shimla came across a bhaturawalla and another bakerywalla between Mall and Ridge, who have huge queues, and certainly make several lakhs profit daily, openly display boards that say we don’t accept cash. Such examples are galore in every city. Leave govt employees, but in private sector take bribe and in no time you will be on the road.
To the extent circumventing the system or bribery and corruption comes not even a small fraction of salaried can afford to be corrupt while except for a very few in business can escape, and does so.
Two decades ago I was meeting CEO of a large global house, and that day he told me he had taken back keys of office, vehicle and house from his deputy for claiming wrong petrol bills. Salaried guys can rarely escape irrespective of the level. That, however doesn’t mean salaried are all honest, some do get away.
Overall a good interview. Informative, relaxing.
You have a point, however it's still a reality that 9 outbof 10 well educated people will opt for a salaried job, because it's relatively an easier option, not necessarily safer but easier. The advantage business people get is because they have chosen a tougher but a more rewarding option. Nothing against one or the other , just the way it is. By the way there is rampant tax evasion among the salaried class as well just that the portion of the income they evade is relatively smaller- I know several people in my circle who stay in their own apartment and still claim HRA without any set-off and don't quite blatantly.
Only 2% of Indians pay personal Income tax. So, anybody who claims to pay personal income tax must be separated from the middle class. The fact is that all income taxpayers in India are Richi Rich.
If you make more than 7lakh a year you pay. so a/c to you ppl making more than 7lpa are rich?
Rich or not, they are better off economically than 98 % of Indians.
@@sathvikraomp2006@sathvikraomp2006: I am stating a fact put up by the Government of India that only 2 % of Indians pay personal income tax. So, wealthy or not, they are economically better off than 98 % of Indians. In every country, the top 2 % of earnings are called the rich rich. After all, rich and poor are relative terms, not absolute terms.
Everything is in right direction in Budget"24 in this Global Economic Condition. I consider fantastic directional budget . No free biz. . .
You are a Ultimate Blessed Ponga Pandit 😂😂😂. Tell me , From where Revenue Come without taxes ?when there is limited sources , Expanding slowly 😂😂
What was the budget figure of 2014 ? Today 48 lacs cr , When Revenue target 31 lacs cr ...😂😂
What was the fiscal deficit on 2014 ? 7% -10% causes 8.8% - 13% 😂😂 inflation😂😂 till 2005-2014 😢😂😂😂
Tax free income was 2 lacs on 2013-14 .
today 7.75 lacs tax free income.
On 2013-14 , Per capita was 74678/ ,
Currency was worst among last five ranked world economy.😂😂
Today Per capita 2.12lacs - 2.4lacs..🎉🎉🎉
fiscal deficit targeted on 2025-2026 4.5% when today's Budget just three fold of 2013-2014 😂😂😂
Therefore your Stupid consideration of Tax Slab Sud raise beyond 15 lacs 😂😂 Not creat aspirations, Aspirations already in Society , but your this kind stupidity will take inflation in higher level & encourage to drain money in option tradings . 😂😂 When in option trading Retail trader loosing 50000cr to 60000 cr . already . 😂😂
Therefore your logic is ridiculous because out of 150 cr population only 2 cr Giving tax ,& Return submitted over 7 cr + .compare to 2013-14 of 3.5cr 😂😂
Problem lies with services fron state govts...
Sirji rbi dividend will goto pay commission change and restoration of pension
Why will that be a problem for tax payers to calculate inflation when your tax calculations are automated?
Good One Vir👍👏👏👏👏👏👏👏👏👏👏👏👏👋👋👏👌
Why do you invite someone whose head and feet, both are in the sky??
The problem lies with the services and the quality of life in India.
If Shenoy thinks out of book transactions have reduced, he is entirely unaware of what really happens in the market. Almost every construction material, interior material, electrical material, clothing items etc. are available without bill at a discount of 15-20% as versus with bill. He is also so wrong about inflation. Govt's formal inflation is kept artificially repressed because it doesn't include Education, Health and other expenses that middle class has. They have been inflating faster than before.
On one side he talks of risk adjusted income tax but on the other side on LTCG he does not use the same logic? Not sure what is his agenda
I feel. Corruption omnibus all pervading like corona virus is also one factor for more money
Percolation of. More purchasing
Power is another factor
Vehicles explosion in cities and villages. Indicates
These days no one bargain even in small. Shop purchase
The problem lies with the quality of life vs the tax paid by middle class in India.
You have to make the state and the municipalities accountable
Money people are trying and tried hard to have monopoly over money..even they have their government at the centre..but looks like sinews of Indian masses has become too tough to go through the hard times given by the money people.
Come on Mr Shenoy stop acting like influencers and see the reality
So Veer has an issue with businesses? Kept pushing the interviewee against the wall !
Vir is really trying to prove the budget is bad and all Business men are chor, and despectation can be seen. But Deepak rocks with facts. 😂
This guy is talking thru his hat. Anybody who equates a rupee today with another, say 20 yrs back, has no clue about indexation and is not competent to talk about it.
Basic axiom - you don't do what is wrong to support "simplification"
Begged Deepak to build a narrative and failed. Kudos to Deepak
Gentleman is far removed from reality : base level salaried guy and base level business: there is a huge difference in income tax paid. We are discussing bottom of pyramid middle class
Good try by Mr.Vir to prove budget is bad. But Mr. Shinoy is hitting him for 6's
Kitna defend karega, nirmala madam.is not watching this
What is wrong with Shenoy…he is just giving one bad example after another to justify his warped point of view..credit to Sanghvi for countering him even when he is no longer expert on the matter…
Just the title of the video is absolute nonsense. Don't even need to watch the video.
Mr hypocrite is talking about morality.
Mr hypocrite show your hypocrisy.
ameer mumbo jumbo.
This guy is full of s... these kind of people would say incentives if you give it to a business or industry and if you anything for poor they will call it hand out or freebeis...no end to hypocrises.
OmG, Please stop this BS, straight forward denying indexation and the wealth erosion, please give me a break
This guy deepak shenoy is up there with saurabh mukherjea and radhika gupta in BSing capacity
Every lawyer & Dr in their own clinic insist on cash payment . Govt shud stop this private practice and force them to join big clinics who pay GST on every transaction and give proper billing.
That will increase the fee they are charging. Pvt clinics still costs much less than corporate hospitals
@@NachiketaThakur nope this will bring economy of scales and bring down the prices accordingly and also the black money and tax evasion done by Lawyers and Doctors.