3G + BWA Auction Policies Announced

The Ministry of Communications and DoT have opened the Pandora’s Box on auction of 3G Mobile Spectrum. The reserved prices of the spectrum has doubled since TRAI’s first recommendation in 2006. Now the reserve price is Rs 2,020 crore for PAN India 3G license. However, around 5 licensees are expected to operate and thus the Government is looking forward to get revenues of Rs 20,000 to Rs 25,000 crore.

Broadband Wireless Access Policy: The government failed to listen to smaller ISPs and has tied the reserve price to 3G. Can India really achieve broader and increased pentration of broadband services as it has happened in mobile services ? Not until BSNL opens its Copper network is my take.

India – A Flawed and Buggy Democratic System

My head hangs in shame as I write this post, but that’s the sad truth about Indian democracy. All Indians in India are a part of a FLAWED system known as Democracy. Under the name of Democracy, Indians are ruled by majority of illiterate Politicians with solid Criminal and 420 background. Coming down in the hierarchy, we have 50% of government servants who are there just by virtue of their Caste, Race, etc and not by merit.

Now what kind of a systems design can you expect from the above mentioned people ? I can bet they cannot deliver even 25% of the current needs are hence the sorry state of affairs in which we Indians are living.

When the pillars of Indian System are so weak and flawed, how can we expect the country to march forward and take on the mights of US & Europe ? Bloody, Analysts must be dreaming in their Fu*k.

Its time we wake up and start cleaning the mess in our system left by earlier generations. Lets start it Now or it can Never happen.

Stupid Tax Laws of India

India tax laws are terrible. Consider this for example, I gifted Rs X00,000 to my nephew who is a minor and is represented by my sister. The stupid Indian Tax laws consider it as my bro-in-law’s income though I have no mention of his name nor his account # in the Gift deed[ this paper work another fu*king pain in the ass]. The reason IT fellows quoted is – minor’s income is to be clubbed with either of the parent’s income whoever has higher income.

Otherwise tax saving consultants advise that I give to my sister and then she can invest in the name of her son. You know why India sux, it is because of such ridiculous laws and terrible officers [ya what can you expect with 27% OBC and 22% SC/ST reservation]

So beware if you want to sponsor your nephew or niece with big gifts the stupid Indian tax men are watching.

How Indian Media destroys Investors Wealth

The irresponsible Indian Financial newspaper media along with other broking intermediaries is equally responsible for destroying small Investors wealth. The over-heated markets have corrected and now the media tends to create panic amongst investors to lure them away from stocks / mutual funds into company deposits [recall the company deposit scam in early 90s]

The intermediaries / brokers are the worst financial advisers and we sincerely hope that Chandu Bhave, Chairman SEBI will start an operation crackdown on them. In 2006 these folks made people invest in Mutual Fund NFOs because they got 5% commission compared to 1.5% in SIPs. It is well known fact that only SIPs have created wealth for investors in the long run and most greedy middleman never advised them to their investors.

The bottom line is  atleast media should become more responsible on what they write in the papers read by millions of investors. Eventually I predict the fall of papers like Economic Times and others and rise of well known financial bloggers, just like the rise of Battelemedia and Techcrunch.

Avoid DHL Courier – Routing Sucks

DHL came with an innovative ad in the US -  “The Roman Empire”, “The Brisitsh Empire”, “The FedEx Empire” – Nothing Lasts Forever… DHL

But look at these suckers packet routing in India. My documents are with them in Chennai since March-02 and it departs Chennai on the 2nd only to arrive back at Chennai.

They could have easily moved the packet to Bangalore , not sure how many more days these slackers will take to deliver it.

Avoid using DHL Courier for shipments from UK to India. FedEx in Europe is expensive but awesome service.

Bharti-Wal-Mart – Retail or not to Retail ?

The half hearted venture of Mittal [Bharti] and Wal-Mart must have made more than 100 announcements about opening their stores since 2006. At first they felth that entry was tough due to high realty prices but continued to make announcements. Now they have said they will enter Cash & Carry business. Jeezzz!!!! Stop this hype and deliver something. Well they certainly don’t fit the popular – Doer’s profile.

Also if you are a shareholder of Bharti-Airtel, don’t drool and expect to be a shareholder of this retail venture, Mittals are not Ambani’s to part with their wealth, instead they are laundering Bharti Airtel’s money and leveraging on listed entities infrastructure for their private gains.

Glitches in Indian Income Tax Department Software

These glitches have stopped processing of refunds to the tune of $3.5 Billion. The shameless department of IT says that it takes time to stabilize the software. Jeez!!! Fire the company who developed the software and hand it over to some CMM level 5 company.

Via ET

Indian Indices Hit Record High

The Indian stock market Indices have hit a record high in Todays trading. Though it made the Intra-Day high on friday itself, it couldn’t close above 15,000. Currently its hovering around 15,027.