Whatz the Fouth Estate doing?

Sometimes its disgusting to see things heading the wrong way in your favourite profession. I consider Journalism a sacred profession and a powerful tool. I don't say there shouldn't be a lighter side to it. There should be one, but the aesthetics has to be taken care of. Everything must be put in the proper place. But, what I see everyday at 8 in the morning baffles me.

I feel that the publishers in a ravenous hunger for circulation have let go of all that what is called as Journalism. Newspapers like Times of India have rather stuck to Sensationalism. True, Internet and TV have taken away a large news-seeking share of population, but a profession need not stoop to such levels to remain in the race.

TOI especially publishes celebs' pic in the main paper everyday. TOI never forgets to cover an occasion where Sania Mirza is a guest, be it even a funeral. In the games, it publishes photos of (woman)players in sexy, flying skirts. Their achievements, their determination are never counted for. Why did Sania Mirza hog so much of the lime light and Anju Bobby George, in her haydays, did not? Only because she is young and sexy. Of course, no offence to Sania. She is where she is today, only because of her determination and hardwork. But, after all she is not to be hyped so much. I am sure someday she will stop playing and settle for Item numbers and sleazy videos, if things continue the same way.

An Indo-Pak match is highlighted in every paper, but the honour given to CV Raman makes it to the inner pages on Science, where nothing but Viagra and Marijuana are discussed.

I read somewhere that papers are doing such stuff to attract the population to read their papers. But is this the only way? At least India is n't so enervated of talent that it has to depend on second grade tactics to retain its one of the most intellectual industries. Ideas are all what are needed. Someone listening???

Budget Blues

Ya! I know Budget week is long over, but it is better late than never. Dunno why, but a subject that has always appealed to me is Finance. Sometimes, I also wonder how I landed in Engineering instead of pursuing some CA or some Journalism course. I am addicted to them. But, having landed in a place as busy as DA-IICT, I just dabble on them here.
Back to business. If one has to list two highlights of the budget that have caught the eye of the storm, they would be:
1. Withdrawal Tax.
2. Fringe Benefit Tax.

Since one has heard and read a lot on the former, let me choose the latter. Rather, the rationale behind my decision is that I would be paying the Withdrawal Tax very soon, but Fringe Benefits, nope, not so soon. Before I comment, lemme tell you Fringe benefit tax (FBT) is a tax on benefits that employees receive as a result of their employment, including those benefits provided through someone other than an employer.

To quote the FM himself, The benefits that are usually enjoyed collectively by the employees and cannot be attributed to individual employees shall be taxed in the hands of the employer; transport services for workers and staff and canteen services in office or factory to be outside the tax net; the tax to be called Fringe Benefits Tax; rate to be 30 per cent on an "appropriately defined base".

This means employers giving perks other than conveyance and canteen will have to shell out a new tax to the tune of 30%. The reason for levying this tax according to P.Chidambaram, Finance Minister, India, is neither the employer nor the employee pays any tax on these benefits, which are of considerable material value.

At present, where the benefits are fully attributable to the employee they are taxed in the hands of the employee, that position will continue. In addition, the Minister has proposed that where the benefits are usually enjoyed collectively by the employees and cannot be attributed to individual employees, they shall be taxed in the hands of the employer. However, transport services for workers and staff and canteen services in an office or factory will be outside the tax net.

All these sums up to business giants in India shelling out bundles of money to the National Treasury. This means all those executives who happily wandered the world in Executive Class for meetings and conferences(I did that just a fortnight ago too ) will now have to settle for the Economic Class.

This, according to me, is a sensible decision on the part of the finmin. Tax all the benefits that provide luxuries and take care of common needs.

Coming to the budget as a whole, I feel even I would rate the budget at the same rank it averages in many forums... 7-8. This is a very superior ranking by any terms. The only thing that this budget did not speak of was Disinvestment, strictly according to me.

Actually, Chidambaram-Manmohan Singh combo raised the expectations of huge reforms. But, it was not too much to be seen in the budget. I guess the reason for this must have been the trade-off between need for political stability and a visionary budget. The Finance Minister cleverly avoided terms like disinvestment in the budget, thus appeasing the Left and also taxed the private spending sector through fringe benefit tax. He also lent a helping hand to the savings of the rising Middle Class of India by rising the Income Tax slab.

And for all those looking for reforms in privatisation and disinvestment, don't lose heart , he has announced a sale of share in large PSUs like ONGC a couple of days after budget. He announced the reason to raise funds for National Investment Fund (if I am not wrong) that would aim at fulfilling the promises of UPA in the Common Minimum Programme.

This is the perfect balance anyone could have struck and whatelse, the markets have responded wonderfully with the sensex zooming near to 7000 mark (6892.82 at the time of this post). All in all, a perfect budget for a great financial year from a visionary ministry.

The party begins

'Anjuman ' is my blog dedicated to everythign except me... While Enigma covers myself exhaustively, Anjuman is the kacheri of my interests. Pardon me for the blog address, as I couldn't get Anjuman, I had to satisfy with anzuman... Anyway, Anjuman is all about the assembly of thoughts, passions and interests. Topics here would include Spirituality, India, Journalism, Democracy, Technology and a lot more.... Though most of them would be adaptations and reproductions, my comments would be appended to each one of them.

And ya, the reason for this Anjuman is that people have mistaken my adulation for Lord Byron as my feelings for some girl. I don't want that to repeat. Thats why this bifurcation of interests and feelings.

I shall kickstart Anjuman asap!
and ya if someone interested for a community blog here, pls do contact...

Signing off
Naresh.K