Exchange Rates - X-Rates

ATO Australian tax treatment for options trades 🇦🇺

I am posting this as I hope it will help other Australian options traders trading in US options with their tax treatment for ATO (Australian Tax Office) purposes. The ATO provides very little guidance on tax treatment for options trading and I had to do a lot of digging to get to this point. I welcome any feedback on this post.

The Deloitte Report from 2011

My initial research led me to this comprehensive Deloitte report from 2011 which is hosted on the ASX website. I've been through this document about 20 times and although it's a great report to understand how different scenarios apply, it's still really hard to find out what's changed since 2011.
I am mainly relating myself to the scenario of being an individual and non-sole trader (no business set up) for my trading. I think this will apply to many others here too. According to that document, there isn't much guidance on what happens when you're an options premium seller and close positions before they expire.
Note that the ATO sometimes uses the term "ETO" (Exchange Traded Option) to discuss what we're talking about here with options trading.
Also note: The ATO discusses the separate Capital Gains Tax ("CGT") events that occur in each scenario in some of their documents. A CGT event will then determine what tax treatment gets applied if you don't know much about capital gains in Australia.

ATO Request for Advice

Since the Deloitte report didn't answer my questions, I eventually ended up contacting the ATO with a request for advice and tried to explain my scenario: I'm an Australian resident for tax purposes, I'm trading with tastyworks in $USD, I'm primarily a premium seller and I don't have it set up with any business/company/trust etc. In effect, I have a rough idea that I'm looking at capital gains tax but I wanted to fully understand how it worked.
Initially the ATO respondent didn't understand what I was talking about when I said that I was selling a position first and buying it to close. According to the laws, there is no example of this given anywhere because it is always assumed in ATO examples that you buy a position and sell it. Why? I have no idea.
I sent a follow up request with even more detail to the ATO. I think (hope) they understood what I meant now after explaining what an options premium seller is!

Currency Gains/Losses

First, I have to consider translating my $USD to Australian dollars. How do we treat that?
FX Translation
If the premium from selling the options contract is received in $USD, do I convert it to $AUD on that day it is received?
ATO response:
Subsection 960-50(6), Item 5 of the Income Tax Assessment Act 1997 (ITAA 1997) states the amount should be translated at the time of the transaction or event for the purposes of the Capital Gains Tax provisions. For the purpose of granting an option to an entity, the time of the event is when you grant the option (subsection 104-20(2) ITAA 1997).
This is a very detailed response which even refers to the level of which section in the law it is coming from. I now know that I need to translate my trades from $USD to $AUD according to the RBA's translation rates for every single trade.
But what about gains or losses on translation?
There is one major rule that overrides FX gains and losses after digging deeper. The ATO has a "$250k balance election". This will probably apply to a lot of people trading in balances below $250k a lot of the FX rules don't apply. It states:
However, the $250,000 balance election broadly enables you to disregard certain foreign currency gains and losses on certain foreign currency denominated bank accounts and credit card accounts (called qualifying forex accounts) with balances below a specified limit.
Therefore, I'm all good disregarding FX gains and losses! I just need to ensure I translate my trades on the day they occurred. It's a bit of extra admin to do unfortunately, but it is what it is.

Credit Trades

This is the scenario where we SELL a position first, collect premium, and close the position by making an opposite BUY order. Selling a naked PUT, for example.
What happens when you open the position? ATO Response:
The option is grantedCGT event D2 happens when a taxpayer grants an option. The time of the event is when the option is granted. The capital gain or loss arising is the difference between the capital proceeds and the expenditure incurred to grant the option.
This seems straight forward. We collect premium and record a capital gain.
What happens when you close the position? ATO Response:
Closing out an optionThe establishment of an ETO contract is referred to as opening a position (ASX Explanatory Booklet 'Understanding Options Trading'). A person who writes (sells) a call or put option may close out their position by taking (buying) an identical call or put option in the same series. This is referred to as the close-out of an option or the closing-out of an opening position.
CGT event C2 happens when a taxpayer's ownership of an intangible CGT asset ends. Paragraph 104-25(1)(a) of the ITAA 1997 provides that ownership of an intangible CGT asset ends by cancellation, surrender, or release or similar means.
CGT event C2 therefore happens to a taxpayer when their position under an ETO is closed out where the close-out results in the cancellation, release or discharge of the ETO.
Under subsection 104-25(3) of the ITAA 1997 you make a capital gain from CGT event C2 if the capital proceeds from the ending are more than the assets cost base. You make a capital loss if those capital proceeds are less than the assets reduced cost base.
Both CGT events (being D2 upon granting the option and C2 upon adopting the close out position) must be accounted for if applicable to a situation.
My take on this is that the BUY position that cancels out your SELL position will most often simply realise a capital loss (the entire portion of your BUY position). In effect, it 'cancels out' your original premium sold, but it's not recorded that way, it's recorded as two separate CGT events - your capital gain from CGT event D2 (SELL position), then, your capital loss from CGT event C2 (BUY position) is also recorded. In effect, they net each other out, but you don't record them as a 'netted out' number - you record them separately.
From what I understand, if you were trading as a sole tradecompany then you would record them as a netted out capital gain or loss, because the trades would be classified as trading stock but not in our case here as an individual person trading options. The example I've written below should hopefully make that clearer.
EXAMPLE:
Trade on 1 July 2020: Open position
Trade on 15 July 2020: Close position
We can see from this simple example that even though you made a gain on those trades, you still have to record the transactions separately, as first a gain, then as a loss. Note that it is not just a matter of netting off the value of the net profit collected and converting the profit to $AUD because the exchange rate will be different on the date of the opening trade and on the date of the closing trade we have to record them separately.

What if you don't close the position and the options are exercised? ATO Response:
The option is granted and then the option is exercisedUnder subsection 104-40(5) of the Income Tax Assessment Act 1997 (ITAA 1997) the capital gain or loss from the CGT event D2 is disregarded if the option is exercised. Subsection 134-1(1), item 1, of the ITAA 1997 refers to the consequences for the grantor of the exercise of the option.
Where the option binds the grantor to dispose of a CGT asset section 116-65 of the ITAA 1997 applies to the transaction.
Subsection 116-65(2) of the ITAA 1997 provides that the capital proceeds from the grant or disposal of the shares (CGT asset) include any payment received for granting the option. The disposal of the shares is a CGT event A1 which occurs under subsection 104-10(3) of the ITAA 1997 when the contract for disposal is entered into.
You would still make a capital gain at the happening of the CGT event D2 in the year the event occurs (the time the option is granted). That capital gain is disregarded when the option is exercised. Where the option is exercised in the subsequent tax year, the CGT event D2 gain is disregarded at that point. An amendment may be necessary to remove the gain previously included in taxable income for the year in which the CGT event D2 occurred.
This scenario is pretty unlikely - for me personally I never hold positions to expiration, but it is nice to know what happens with the tax treatment if it ultimately does come to that.

Debit Trades

What about the scenario when you want to BUY some options first, then SELL that position and close it later? Buying a CALL, for example. This case is what the ATO originally thought my request was about before I clarified with them. They stated:
When you buy an ETO, you acquire an asset (the ETO) for the amount paid for it (that is, the premium) plus any additional costs such as brokerage fees and the Australian Clearing House (ACH) fee. These costs together form the cost base of the ETO (section 109-5 of the ITAA 1997). On the close out of the position, you make a capital gain or loss equal to the difference between the cost base of the ETO and the amount received on its expiry or termination (subsection 104-25(3) of the ITAA 1997). The capital gain or loss is calculated on each parcel of options.
So it seems it is far easier to record debit trades for tax purposes. It is easier for the tax office to see that you open a position by buying it, and close it by selling it. And in that case you net off the total after selling it. This is very similar to a trading shares and the CGT treatment is in effect very similar (the main difference is that it is not coming under CGT event A1 because there is no asset to dispose of, like in a shares or property trade).

Other ATO Info (FYI)

The ATO also referred me to the following documents. They relate to some 'decisions' that they made from super funds but the same principles apply to individuals they said.
The ATO’s Interpretative Decision in relation to the tax treatment of premiums payable and receivable for exchange traded options can be found on the links below. Please note that the interpretative decisions below are in relation to self-managed superannuation funds but the same principles would apply in your situation [as an individual taxpayer, not as a super fund].
Premiums Receivable: ATO ID 2009/110

Some tips

submitted by cheese-mate-chen-c to options [link] [comments]

Top 5 Most Famous Traders Of All Time

In all industries there are people credited to being the simplest .
In design, the late Steve Jobs is credited to being the simplest in his industry. In boxing, Muhammad Ali was credited to being the simplest boxer of all time.
In U.S. politics, there's a consensus that Lincoln was the nation’s greatest President by every measure applied.
In the trading world, a variety of traders are known worldwide for his or her skills. From Jesse Livermore to George Soros, we are sharing these tales of past and present traders who had to claw their thanks to the highest .
Here, we'll check out the five most famous traders of all time and canopy a touch bit about each trader and why they became so famous.
Jesse Livermore
Jesse Livermore jumped into the stock exchange with incredible calculations at the age of 15, amassed huge profits, then lost all of them , then mastered two massive crises and came out the opposite side while following his own rules, earning him the nickname “The Great Bear of Wall Street.”
Livermore was born in 1877 in Shrewsbury, Massachusetts.
Visit شركة اكويتي السعودية
He is remembered for his incredible risk taking, his gregarious method of reading the potential moves within the stock exchange , derivatives and commodities, and for sustaining vast losses also as rising to fortune.
He began his career having run far away from home by carriage to flee a lifetime of farming that his father had planned for him, instead choosing city life and finding work posting stock quotes at Paine Webber, a Boston stockbroker.
Livermore bought his first share at 15 and earned a profit of $3.12 from $5 after teaching himself about trends.
George Soros
George Soros has a fantastic backstory.
Born in Hungary in 1930 to Jewish parents, Soros survived the Holocaust and later fled the country when the Communists took power. He went on to become one among the richest men and one among the foremost famous philanthropists within the world.
Most day traders know him for his long and prolific career as a trader who famously “broke the Bank of England” in 1992. Soros made an enormous bet against British Pound, which earned him $1 billion in profit in only 24 hours.
Along with other currency speculators, he placed a bet against the bank’s ability to carry the road on the pound. He borrowed pounds, then sold them, helping to down the worth of the currency on forex markets and ultimately forcing the united kingdom to crash out of the ecu rate of exchange Mechanism.
It was perhaps the quickest billion dollars anyone has ever made and one among the foremost famous trades ever taken, which later became referred to as “breaking the Bank of England”.
Soros is believed to have netted a complete of about $44 billion through financial speculation. And he has used his fortune to find thousands of human rights, democracy, health, and education projects.
Richard Dennis
There are only a couple of traders which will take a little amount of cash and switch it into millions and Richard Dennis was one among them.
Known as the “Prince of the Pit”, Dennis is claimed to have borrowed $1,600 when he was around 23 years old and turned it into $200 million in about 10 years trading commodities. Even more interesting to notice , he only traded $400 of the $1,600.
Not only did he achieve great success as a commodities trader, he also went on to launch the famous “Turtle Traders Group”. Using mini contracts, Dennis began to trade his own account at the Mid America commodities exchange .
He made a profit of $100,000 in 1973. The subsequent year, he capitalized on a runway soybean market to earn $500,000 in profits. He became an impressive millionaire at the top of the year.
However, he incurred massive losses within the Black Monday stock exchange crash in 1987 and therefore the dot-com bubble burst in 2000.
While he's famous for creating and losing tons of cash , Dennis is additionally famous for something else – an experiment. He and his friend William Eckhardt recruited and trained traders, a couple of men and ladies, the way to trade futures. These so-called Turtle Traders went on to form profits of $175 million in 4 years, consistent with a former student.
Paul Tudor Jones
Paul Tudor Jones thrust into the limelight within the 80s when he successfully predicted the 1987 stock exchange , as shown within the riveting one hour documentary called “Trader”.
The legendary trader was born in Memphis, Tennessee in 1954. His father ran a financial and legal trade newspaper. While he was in college, he want to write articles for the newspaper under the pseudonym, “Eagle Jones”.
Jones began his journey within the finance business by trading cotton. He started trading on his own following 4 years of non-trading experience, made profits from his trades but got bored, and later hired people to trade for him so he would not get bored.
But the trade that shot him to fame came on Black Monday in 1987, when he made an estimated $100 million whilst the Dow Jones Industrial Average plunged 22%.
He became a pioneer within the area of worldwide macro investing and was an enormous player within the meteoric growth of the hedge fund industry. He's also known for depending on currencies and interest rates.
He founded his hedge fund, Tudor Investment Corp, in 1980. The fund currently has around $21 billion in assets under management and he himself has an estimated net worth of nearly $5.8 Billion.
John Paulson
Super-trader John Paulson built a private fortune worth $4.4 billion from managing other people’s money. Born in 1955, Paulson made his name and far of his money betting a huge amount of money against the U.S. housing market during the worldwide financial crisis of 2007–2008.
Paulson bought insurance against defaults by subprime mortgages before the market collapse in 2007. He netted an estimated $20 billion on the collapse of the subprime mortgage market, dubbed the best trade ever.
However, his diary since that bet has been patchy at the best . Within the years following the financial crisis, Paulson struggled to match this success.
Failed bets on gold, healthcare and pharmaceutical stocks caused investors to escape his hedge fund Paulson & Co, cutting its assets under management to $10 billion as of January 2020 from a high of $36 billion in 2011.
Earlier this year, Paulson announced the fund would stop managing money for outdoor clients and switch it into a family office. He launched the fund in 1994.
submitted by equiti-me to u/equiti-me [link] [comments]

Your Pre Market Brief for 07/16/2020

Pre Market Brief for Thursday July 16th 2020

You can subscribe to the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily 4:00 AM Pre Market Brief in this sub.
Updated as of 4:45 AM EST
-----------------------------------------------
Stock Futures:
Wednesday 07/15/2020 News and Markets Recap:
Thursday July 16th 2020 Economic Calendar (All times are in EST)
(JOBLESS CLAIMS TODAY)
News Heading into Thursday July 16th 2020:
NOTE: I USUALLY (TRY TO) POST MANY OF THE MOST PROMISING, DRAMATIC, OR BAD NEWS OVERNIGHT STORIES THAT ARE LIKELY IMPORTANT TO THE MEMBERS OF THIS SUB AT THE TOP OF THIS LIST. PLEASE DO NOT YOLO THE VARIOUS TICKERS WITHOUT DOING RESEARCH! THE TIME STAMPS ON THESE MAY BE LATER THAN OTHERS ON THE WEB.
Upcoming Earnings:
Commodities:
COVID-19 Stats and News:
Macro Considerations:
Most Recent SEC Filings
Other
-----------------------------------------------
Morning Research and Trading Prep Tool Kit
Other Useful Resources:
The Ultimate Quick Resource For the Amateur Trader.
Subscribe to This Brief and the daily 4:00 AM Pre Market Brief on The Twitter Link Here . Alerts in the tweets will direct you to the daily brief in this sub
submitted by Cicero1982 to pennystocks [link] [comments]

No, the British did not steal $45 trillion from India

This is an updated copy of the version on BadHistory. I plan to update it in accordance with the feedback I got.
I'd like to thank two people who will remain anonymous for helping me greatly with this post (you know who you are)
Three years ago a festschrift for Binay Bhushan Chaudhuri was published by Shubhra Chakrabarti, a history teacher at the University of Delhi and Utsa Patnaik, a Marxist economist who taught at JNU until 2010.
One of the essays in the festschirt by Utsa Patnaik was an attempt to quantify the "drain" undergone by India during British Rule. Her conclusion? Britain robbed India of $45 trillion (or £9.2 trillion) during their 200 or so years of rule. This figure was immensely popular, and got republished in several major news outlets (here, here, here, here (they get the number wrong) and more recently here), got a mention from the Minister of External Affairs & returns 29,100 results on Google. There's also plenty of references to it here on Reddit.
Patnaik is not the first to calculate such a figure. Angus Maddison thought it was £100 million, Simon Digby said £1 billion, Javier Estaban said £40 million see Roy (2019). The huge range of figures should set off some alarm bells.
So how did Patnaik calculate this (shockingly large) figure? Well, even though I don't have access to the festschrift, she conveniently has written an article detailing her methodology here. Let's have a look.
How exactly did the British manage to diddle us and drain our wealth’ ? was the question that Basudev Chatterjee (later editor of a volume in the Towards Freedom project) had posed to me 50 years ago when we were fellow-students abroad.
This is begging the question.
After decades of research I find that using India’s commodity export surplus as the measure and applying an interest rate of 5%, the total drain from 1765 to 1938, compounded up to 2016, comes to £9.2 trillion; since $4.86 exchanged for £1 those days, this sum equals about $45 trillion.
This is completely meaningless. To understand why it's meaningless consider India's annual coconut exports. These are almost certainly a surplus but the surplus in trade is countered by the other country buying the product (indeed, by definition, trade surpluses contribute to the GDP of a nation which hardly plays into intuitive conceptualisations of drain).
Furthermore, Dewey (2019) critiques the 5% interest rate.
She [Patnaik] consistently adopts statistical assumptions (such as compound interest at a rate of 5% per annum over centuries) that exaggerate the magnitude of the drain
Moving on:
The exact mechanism of drain, or transfers from India to Britain was quite simple.
Convenient.
Drain theory possessed the political merit of being easily grasped by a nation of peasants. [...] No other idea could arouse people than the thought that they were being taxed so that others in far off lands might live in comfort. [...] It was, therefore, inevitable that the drain theory became the main staple of nationalist political agitation during the Gandhian era.
- Chandra et al. (1989)
The key factor was Britain’s control over our taxation revenues combined with control over India’s financial gold and forex earnings from its booming commodity export surplus with the world. Simply put, Britain used locally raised rupee tax revenues to pay for its net import of goods, a highly abnormal use of budgetary funds not seen in any sovereign country.
The issue with figures like these is they all make certain methodological assumptions that are impossible to prove. From Roy in Frankema et al. (2019):
the "drain theory" of Indian poverty cannot be tested with evidence, for several reasons. First, it rests on the counterfactual that any money saved on account of factor payments abroad would translate into domestic investment, which can never be proved. Second, it rests on "the primitive notion that all payments to foreigners are "drain"", that is, on the assumption that these payments did not contribute to domestic national income to the equivalent extent (Kumar 1985, 384; see also Chaudhuri 1968). Again, this cannot be tested. [...] Fourth, while British officers serving India did receive salaries that were many times that of the average income in India, a paper using cross-country data shows that colonies with better paid officers were governed better (Jones 2013).
Indeed, drain theory rests on some very weak foundations. This, in of itself, should be enough to dismiss any of the other figures that get thrown out. Nonetheless, I felt it would be a useful exercise to continue exploring Patnaik's take on drain theory.
The East India Company from 1765 onwards allocated every year up to one-third of Indian budgetary revenues net of collection costs, to buy a large volume of goods for direct import into Britain, far in excess of that country’s own needs.
So what's going on here? Well Roy (2019) explains it better:
Colonial India ran an export surplus, which, together with foreign investment, was used to pay for services purchased from Britain. These payments included interest on public debt, salaries, and pensions paid to government offcers who had come from Britain, salaries of managers and engineers, guaranteed profts paid to railway companies, and repatriated business profts. How do we know that any of these payments involved paying too much? The answer is we do not.
So what was really happening is the government was paying its workers for services (as well as guaranteeing profits - to promote investment - something the GoI does today Dalal (2019), and promoting business in India), and those workers were remitting some of that money to Britain. This is hardly a drain (unless, of course, Indian diaspora around the world today are "draining" it). In some cases, the remittances would take the form of goods (as described) see Chaudhuri (1983):
It is obvious that these debit items were financed through the export surplus on merchandise account, and later, when railway construction started on a large scale in India, through capital import. Until 1833 the East India Company followed a cumbersome method in remitting the annual home charges. This was to purchase export commodities in India out of revenue, which were then shipped to London and the proceeds from their sale handed over to the home treasury.
While Roy's earlier point argues better paid officers governed better, it is honestly impossible to say what part of the repatriated export surplus was a drain, and what was not. However calling all of it a drain is definitely misguided.
It's worth noting that Patnaik seems to make no attempt to quantify the benefits of the Raj either, Dewey (2019)'s 2nd criticism:
she [Patnaik] consistently ignores research that would tend to cut the economic impact of the drain down to size, such as the work on the sources of investment during the industrial revolution (which shows that industrialisation was financed by the ploughed-back profits of industrialists) or the costs of empire school (which stresses the high price of imperial defence)

Since tropical goods were highly prized in other cold temperate countries which could never produce them, in effect these free goods represented international purchasing power for Britain which kept a part for its own use and re-exported the balance to other countries in Europe and North America against import of food grains, iron and other goods in which it was deficient.
Re-exports necessarily adds value to goods when the goods are processed and when the goods are transported. The country with the largest navy at the time would presumably be in very good stead to do the latter.
The British historians Phyllis Deane and WA Cole presented an incorrect estimate of Britain’s 18th-19th century trade volume, by leaving out re-exports completely. I found that by 1800 Britain’s total trade was 62% higher than their estimate, on applying the correct definition of trade including re-exports, that is used by the United Nations and by all other international organisations.
While interesting, and certainly expected for such an old book, re-exporting necessarily adds value to goods.
When the Crown took over from the Company, from 1861 a clever system was developed under which all of India’s financial gold and forex earnings from its fast-rising commodity export surplus with the world, was intercepted and appropriated by Britain. As before up to a third of India’s rising budgetary revenues was not spent domestically but was set aside as ‘expenditure abroad’.
So, what does this mean? Britain appropriated all of India's earnings, and then spent a third of it aboard? Not exactly. She is describing home charges see Roy (2019) again:
Some of the expenditures on defense and administration were made in sterling and went out of the country. This payment by the government was known as the Home Charges. For example, interest payment on loans raised to finance construction of railways and irrigation works, pensions paid to retired officers, and purchase of stores, were payments in sterling. [...] almost all money that the government paid abroad corresponded to the purchase of a service from abroad. [...] The balance of payments system that emerged after 1800 was based on standard business principles. India bought something and paid for it. State revenues were used to pay for wages of people hired abroad, pay for interest on loans raised abroad, and repatriation of profits on foreign investments coming into India. These were legitimate market transactions.
Indeed, if paying for what you buy is drain, then several billions of us are drained every day.
The Secretary of State for India in Council, based in London, invited foreign importers to deposit with him the payment (in gold, sterling and their own currencies) for their net imports from India, and these gold and forex payments disappeared into the yawning maw of the SoS’s account in the Bank of England.
It should be noted that India having two heads was beneficial, and encouraged investment per Roy (2019):
The fact that the India Office in London managed a part of the monetary system made India creditworthy, stabilized its currency, and encouraged foreign savers to put money into railways and private enterprise in India. Current research on the history of public debt shows that stable and large colonies found it easier to borrow abroad than independent economies because the investors trusted the guarantee of the colonist powers.

Against India’s net foreign earnings he issued bills, termed Council bills (CBs), to an equivalent rupee value. The rate (between gold-linked sterling and silver rupee) at which the bills were issued, was carefully adjusted to the last farthing, so that foreigners would never find it more profitable to ship financial gold as payment directly to Indians, compared to using the CB route. Foreign importers then sent the CBs by post or by telegraph to the export houses in India, that via the exchange banks were paid out of the budgeted provision of sums under ‘expenditure abroad’, and the exporters in turn paid the producers (peasants and artisans) from whom they sourced the goods.
Sunderland (2013) argues CBs had two main roles (and neither were part of a grand plot to keep gold out of India):
Council bills had two roles. They firstly promoted trade by handing the IO some control of the rate of exchange and allowing the exchange banks to remit funds to India and to hedge currency transaction risks. They also enabled the Indian government to transfer cash to England for the payment of its UK commitments.

The United Nations (1962) historical data for 1900 to 1960, show that for three decades up to 1928 (and very likely earlier too) India posted the second highest merchandise export surplus in the world, with USA in the first position. Not only were Indians deprived of every bit of the enormous international purchasing power they had earned over 175 years, even its rupee equivalent was not issued to them since not even the colonial government was credited with any part of India’s net gold and forex earnings against which it could issue rupees. The sleight-of-hand employed, namely ‘paying’ producers out of their own taxes, made India’s export surplus unrequited and constituted a tax-financed drain to the metropolis, as had been correctly pointed out by those highly insightful classical writers, Dadabhai Naoroji and RCDutt.
It doesn't appear that others appreciate their insight Roy (2019):
K. N. Chaudhuri rightly calls such practice ‘confused’ economics ‘coloured by political feelings’.

Surplus budgets to effect such heavy tax-financed transfers had a severe employment–reducing and income-deflating effect: mass consumption was squeezed in order to release export goods. Per capita annual foodgrains absorption in British India declined from 210 kg. during the period 1904-09, to 157 kg. during 1937-41, and to only 137 kg by 1946.
Dewey (1978) points out reliability issues with Indian agriculutural statistics, however this calorie decline persists to this day. Some of it is attributed to less food being consumed at home Smith (2015), a lower infectious disease burden Duh & Spears (2016) and diversified diets Vankatesh et al. (2016).
If even a part of its enormous foreign earnings had been credited to it and not entirely siphoned off, India could have imported modern technology to build up an industrial structure as Japan was doing.
This is, unfortunately, impossible to prove. Had the British not arrived in India, there is no clear indication that India would've united (this is arguably more plausible than the given counterfactual1). Had the British not arrived in India, there is no clear indication India would not have been nuked in WW2, much like Japan. Had the British not arrived in India, there is no clear indication India would not have been invaded by lizard people, much like Japan. The list continues eternally.
Nevertheless, I will charitably examine the given counterfactual anyway. Did pre-colonial India have industrial potential? The answer is a resounding no.
From Gupta (1980):
This article starts from the premise that while economic categories - the extent of commodity production, wage labour, monetarisation of the economy, etc - should be the basis for any analysis of the production relations of pre-British India, it is the nature of class struggles arising out of particular class alignments that finally gives the decisive twist to social change. Arguing on this premise, and analysing the available evidence, this article concludes that there was little potential for industrial revolution before the British arrived in India because, whatever might have been the character of economic categories of that period, the class relations had not sufficiently matured to develop productive forces and the required class struggle for a 'revolution' to take place.
A view echoed in Raychaudhuri (1983):
Yet all of this did not amount to an economic situation comparable to that of western Europe on the eve of the industrial revolution. Her technology - in agriculture as well as manufacturers - had by and large been stagnant for centuries. [...] The weakness of the Indian economy in the mid-eighteenth century, as compared to pre-industrial Europe was not simply a matter of technology and commercial and industrial organization. No scientific or geographical revolution formed part of the eighteenth-century Indian's historical experience. [...] Spontaneous movement towards industrialisation is unlikely in such a situation.
So now we've established India did not have industrial potential, was India similar to Japan just before the Meiji era? The answer, yet again, unsurprisingly, is no. Japan's economic situation was not comparable to India's, which allowed for Japan to finance its revolution. From Yasuba (1986):
All in all, the Japanese standard of living may not have been much below the English standard of living before industrialization, and both of them may have been considerably higher than the Indian standard of living. We can no longer say that Japan started from a pathetically low economic level and achieved a rapid or even "miraculous" economic growth. Japan's per capita income was almost as high as in Western Europe before industrialization, and it was possible for Japan to produce surplus in the Meiji Period to finance private and public capital formation.
The circumstances that led to Meiji Japan were extremely unique. See Tomlinson (1985):
Most modern comparisons between India and Japan, written by either Indianists or Japanese specialists, stress instead that industrial growth in Meiji Japan was the product of unique features that were not reproducible elsewhere. [...] it is undoubtably true that Japan's progress to industrialization has been unique and unrepeatable
So there you have it. Unsubstantiated statistical assumptions, calling any number you can a drain & assuming a counterfactual for no good reason gets you this $45 trillion number. Hopefully that's enough to bury it in the ground.
1. Several authors have affirmed that Indian identity is a colonial artefact. For example see Rajan 1969:
Perhaps the single greatest and most enduring impact of British rule over India is that it created an Indian nation, in the modern political sense. After centuries of rule by different dynasties overparts of the Indian sub-continent, and after about 100 years of British rule, Indians ceased to be merely Bengalis, Maharashtrians,or Tamils, linguistically and culturally.
or see Bryant 2000:
But then, it would be anachronistic to condemn eighteenth-century Indians, who served the British, as collaborators, when the notion of 'democratic' nationalism or of an Indian 'nation' did not then exist. [...] Indians who fought for them, differed from the Europeans in having a primary attachment to a non-belligerent religion, family and local chief, which was stronger than any identity they might have with a more remote prince or 'nation'.

Bibliography

Chakrabarti, Shubra & Patnaik, Utsa (2018). Agrarian and other histories: Essays for Binay Bhushan Chaudhuri. Colombia University Press
Hickel, Jason (2018). How the British stole $45 trillion from India. The Guardian
Bhuyan, Aroonim & Sharma, Krishan (2019). The Great Loot: How the British stole $45 trillion from India. Indiapost
Monbiot, George (2020). English Landowners have stolen our rights. It is time to reclaim them. The Guardian
Tsjeng, Zing (2020). How Britain Stole $45 trillion from India with trains | Empires of Dirt. Vice
Chaudhury, Dipanjan (2019). British looted $45 trillion from India in today’s value: Jaishankar. The Economic Times
Roy, Tirthankar (2019). How British rule changed India's economy: The Paradox of the Raj. Palgrave Macmillan
Patnaik, Utsa (2018). How the British impoverished India. Hindustan Times
Tuovila, Alicia (2019). Expenditure method. Investopedia
Dewey, Clive (2019). Changing the guard: The dissolution of the nationalist–Marxist orthodoxy in the agrarian and agricultural history of India. The Indian Economic & Social History Review
Chandra, Bipan et al. (1989). India's Struggle for Independence, 1857-1947. Penguin Books
Frankema, Ewout & Booth, Anne (2019). Fiscal Capacity and the Colonial State in Asia and Africa, c. 1850-1960. Cambridge University Press
Dalal, Sucheta (2019). IL&FS Controversy: Centre is Paying Up on Sovereign Guarantees to ADB, KfW for Group's Loan. TheWire
Chaudhuri, K.N. (1983). X - Foreign Trade and Balance of Payments (1757–1947). Cambridge University Press
Sunderland, David (2013). Financing the Raj: The City of London and Colonial India, 1858-1940. Boydell Press
Dewey, Clive (1978). Patwari and Chaukidar: Subordinate officials and the reliability of India’s agricultural statistics. Athlone Press
Smith, Lisa (2015). The great Indian calorie debate: Explaining rising undernourishment during India’s rapid economic growth. Food Policy
Duh, Josephine & Spears, Dean (2016). Health and Hunger: Disease, Energy Needs, and the Indian Calorie Consumption Puzzle. The Economic Journal
Vankatesh, P. et al. (2016). Relationship between Food Production and Consumption Diversity in India – Empirical Evidences from Cross Section Analysis. Agricultural Economics Research Review
Gupta, Shaibal (1980). Potential of Industrial Revolution in Pre-British India. Economic and Political Weekly
Raychaudhuri, Tapan (1983). I - The mid-eighteenth-century background. Cambridge University Press
Yasuba, Yasukichi (1986). Standard of Living in Japan Before Industrialization: From what Level did Japan Begin? A Comment. The Journal of Economic History
Tomblinson, B.R. (1985). Writing History Sideways: Lessons for Indian Economic Historians from Meiji Japan. Cambridge University Press
Rajan, M.S. (1969). The Impact of British Rule in India. Journal of Contemporary History
Bryant, G.J. (2000). Indigenous Mercenaries in the Service of European Imperialists: The Case of the Sepoys in the Early British Indian Army, 1750-1800. War in History
submitted by GaslightEveryone to u/GaslightEveryone [link] [comments]

Compare some of the best forex brokers in the world

Compare some of the best forex brokers in the world

Best Forex Broker in the World
In a market that moves about $4 trillion consistently, finding the best forex brokers in the world is muddled. It is anything but difficult to track down plenty of con artists who need to exploit any individual who should get into the forex business.
As you will find in our forex training page, the forex showcase has no focal commercial center. Decentralization makes it simple for individuals to do virtually anything they desire. In making the top forex brokers list, it is necessary to ensure that we have the correct data.
In any case, as of late, administrative, social orders stand watchman and attempt as much as possible to ensure that in the quest for the best forex brokers in the world, we have great alternatives.
We arranged these rundowns to help any individual who probably won't understand what to do, locate the best forex merchants on the planet. These top forex brokers list help point you as the merchant the correct way so you can identify the proper representative for you.
Safety efforts
The best forex brokers in the world share stringent safety efforts as a standard component. Security is the main thing we see when making the top e top forex dealers in your nation.
We demonstrate the character of the names on the top forex intermediaries rundown to ensure you are not cheated. To check the believability and establish that who you have met is somebody deserving of showing up on the top forex brokers list, go to an administrative organization site on the off chance that you need affirmation.
A few administrative offices ensure the best forex representative on the planet observe the standards and guarantee that the clients are secured.
A portion of the central matters that we make a point to see when searching for the best forex brokers in the world incorporates;
  1. The exchange costs must be reasonable. All the names on the top forex brokers list have sensible and moderate rates. The exchange expenses are paid through a commission or the spread. We ensure the range is low, and the commission charges are reasonable.
  2. The stores and withdrawals must be simple. We verify whether the best forex brokers in the world gives numerous strategies for removal and store and if they cost you something. The charges must be non-existent or as low as conceivable, relying upon conditions.
  3. The exchanging stage for the best forex brokers in the world must be easy to understand. This will permit you to be exact in your dealings. Dealers who do forex online need to utilize an exchanging stage like MetaTrader. Search for an ideal alternative that you are most open to using.
  4. Not many pips affect a misfortune and a benefit. The organizations on the top forex brokers list fill you in at or near the market cost.
As you will discover, everything is secured, including client assistance. You have to realize that when there is an issue, there is somebody to converse with. The best forex brokers in the world are recorded here for you to have a single time picking the best.


submitted by TopFx490 to u/TopFx490 [link] [comments]

How does the BitQT App work?

How does the BitQT App work?

https://preview.redd.it/81cx1yfe1pm51.jpg?width=474&format=pjpg&auto=webp&s=2ceddeda7d5dc0be5c7d4b4dfa7a715baac65b3a
In the later part of websites are the testimonials screaming out loud regarding their success.BitQT review can be quiet judgemental at this point as a result of neither these testimonials prove the legitimacy of the web site nor the live profit reviews account such
You extremely want to understand that if you opt to speculate you’ll surely not visiting recover. TheBitQT just prove this by themselves stating it not being on affiliate terms with others. Something that’s claiming that you simply’ll earn 110zero greenbacks every day is doing a true-time scam job
Perhaps, theBitQT states advertising itself on Times, CNN and Forbes however neither of them found supportive during this regard. You'll check it all by yourself. This is often the sound proof of its scamming regime throughout the globe
It doesn’t have that laser-accurate performance as in trading bitcoin you can never guarantee the minimum amount of profit you be earning the other day. Its what happens when trading with Forex

Many of the websites agree onto the proficiency ofBitQT negating the crucial and impactful proves I shared with you higher than. They are saying it’s flawless. Will something be this flawless letting you earn regarding one thousand bucks each day without charging a penny? The automated transactions are known to be deposited directly into the user’s account that is nowhere to find affiliation with. Undoubtedly, most of the revealing sites have the only supportive argument beginning with, ‘As the review suggests’. Do raise yourselves, is that this the legitimate way to prove legitimacy ofBitQT
They too argue regarding the legitimate verification method. That’s the explanation why there’s a number of complaints with reference to the current. If these products would have really worked, why not each single person select to remain off from their offices integrating with it somehow:

Merely head to the SIGN-UP section on theBitQT site, fill in your personal info, and present your registration. When acknowledged, you'll be able to be able to access our restrictive Bitcoin exchanging

To induce your exchange account in progress, you’ll have to include some assets. WithBitQT, you can create a initial investment of as low as $250, although you'll be able to contribute as a lot of as you wantoy
Since your enlistment has been acknowledged and you’ve invested some funds, you’re fully done. Simply click on ‘trade’ to receive the rewards ofBitQT’s highly rated algorithm. In case you need a hands-on approach, you can shift to manual operation by changing the settings

There’s no harm in trading in terms of cryptocurrency. We have a tendency to’re not against it. But we tend to really aim to reveal the very fact thatBitQT isn't a legitimate website to believe during this case. To actually invest in bitcoin you initially want to shop for a bitcoin wallet so as to store all bitcoins. a series of blockchain integrations which permits you to top-up and earn.

But, as stated earlier you’ve no actual guarantee concerning the number you wish to earn. Secondly, you wish to integrate your bitcoin wallet to your account and then you’ll be ready to head towards the foremost step. Here, you’ll jin a bitcoin exchange system for trading bitcoin for any different traditional currencies of the market.

It works well solely if you for legitimate sites for functioning and planning. Perhaps, it too needs a nice amount of ability and we never promise you to begin earning when you join Bitcoin Exchanger somehow. This was all aboutBitQT Review as a full fulling the aim of alerting the scam going around.


Money Forex Cluster scamThe Cash Forex Group is run by a company named CFxG which allegedly was founded by a team of experts in all kinds of areas, mainly education in the monetary trading field and network promoting.

https://preview.redd.it/0gc7ga9f1pm51.jpg?width=474&format=pjpg&auto=webp&s=5c031ac047e635c47d3ee592ab9235878613c890
These experts and their automated trading system will supposedly facilitate your to form heaps of cash. In trading solely you'll allegedly make fifteenp.c weekly on your investments. Then there are referral programs and multi-level structures that can boost your income even more. Is that t
Money FX Group scamLet’s begin this Money Forex Group review by stating the obvious, this scheme may be a total scam, you just have to look at the numbers.BitQT

When they promise you fifteen%+ weekly, it means that 60percent+ monthly, which is totally ridiculous in the important world. It means a lot of than 560zeropercent per year, therefore you'd need solely $18,00zero greenbacks to become a millionaire within year. And this is often plain impossible.

No legitimate business can create you a gradual fifteenpercent weekly, no financial markets are that predictable and that easy to trade. It may appear straightforward to you, but it really is this straightforward, a program promising fifteenp.c weekly should be a scam, there is no alternative method, the Money FX Group is a scam.

However there is additional to go through in this review.
Massive lies

Money FX Cluster testimonialThe Money Forex Cluster claims to be regulated by the subsequent institutions: FAC – Financial Conduct Authority of London, DFSA – Monetary Services Authority in Dubai, FSCA – Monetary Sector Conduct Authority of South Africa and FSA – the Monetary Services Authority of Seychelles.

But guess what, the FAC will not even exist, while the others (DFSA, FSCA and FSA) haven't issued any license whatsoever to Cash Forex Cluster. Therefore not only Money FX Group is not regulated at all, it conjointly is lying huge time regarding its regulatory status.

The fact is that it's no license whatsoever, so it cannot supply investment services legally in most countries.

This is often conjointly why they want you to deposit cryptocurrencies, they wish to remain as anonymous as potential, so that they will run away along with your cash.
Regulatory warning

Not long when we have a tendency to printed our analysis, the Financial Conduct Authority (financial regulator in Nice Britain) came up with its own warning.

The regulator said that CashFX is providing investment services without the mandatory authorization and advised the public to remain off from it. This is often a very serious argumentBiTQT.

It'd be terribly unwise to deposit money with an unregulated and basically anonymous entity, as a result of it would not be protected in any means. No matter where the cash finally ends up, this program is promising you impossible returns on investments, which in itself confirms that something is wrong.
How it works

Let’s end this Cash Forex Group review by explaining the essential principle of this investment program. It's a Ponzi theme that does no real economic activity. It just collects money from individuals and may pay out some profits, but the most recent clients’ deposits can be used for that.

This will have an inevitable outcome, the system can sooner or later crumble. It's simply a matter of your time when there can be not enough deposits to hide withdrawals and also the inevitable end can

Nobody has not been paid, that is NOBODY ….. after all you can't compound or upgrade your CFX account unless you withdraw (get paid) …. CFX are not regulated…. as a result of they use a Regulated broker (everfx) to trade…so that information is also incorrect…and judging by the actual members comments….I’d say, members are happy….. long might that continue. BUT, you must never place in more than you are prepared to lose (In SOMETHING). However do correct analysis, ask

members, don’t rely on people that play safe and stay poor. Do your own due diligence. (ps MOST sites that decision each business out as a scam…have their own links…..promoting guess what ? ….tip. SCAMS ! Beware.

https://www.cryptoerapro.com/bitqt/


http://www.cryptoerapro.com/

https://twitter.com/cryptoerapro

https://www.instagram.com/cryptoerapro/

https://www.pinterest.co.uk/cryptoerapro/

https://www.facebook.com/cryptoerapro
submitted by bitqtadvantage to u/bitqtadvantage [link] [comments]

200 achievements of Modi Govt

  1. Fragile five to Fastest growing economy - India
  2. 11th largest to the 5th largest economy - India
  3. Share of world GDP from 2.43% in 2014 to 3.08% in 2018
  4. Average GDP 7.3% against 6.7% in previous regime
  5. Forex reserves from 300 bn USD in 2014 to 420 bn USD in 2018
  6. Doubling of FDI inflow from 36 bn USD in 2014 to 66 billion USD in 2018
  7. Inflation less than 2.3 % (Nov 18) against 10.1% in 2014
  8. Growth of sensex from 24,121.74 in 2014 to 36,395.03 on 12 Feb 19 (50.88%)
  9. Fiscal deficit under control
  10. Per capita income increased by 45% from Rs 86,647 in 2014 to Rs 1,25,397
  11. IT exemption from 2 lakh in 2014 to 5 lakh (effectively 9.85 lakh with home loan)
  12. Restaurant bills tax reduced from 18% in 2014 to 5%
  13. Transaction charges through card down from 1% to 0%, domestic money transfer fee down from Rs 5 in 2014 to zero
  14. Financial inclusion (32 crore bank accounts with 260 billion worth deposits). Almost 100% coverage from earlier 50%
  15. DBT (savings of 83000 crores @ 15000 crore annually), No of govt schemes DBT applied to increased from 34 in 2014 to 433, 2.7 lakh fake mid-day meal students, 3.3 crore fake LPG connections, 87 lakh fake MNREGA job cards, 3 crore fake ration cards eliminated
  16. Zero IT for businesses with turnover upto 60 lakhs
  17. GST exemplifying cooperative federalism, rates of 83 items down from pre-GST rates, out of 1211 items only 35 items in above 18% slab, 39% reduction of cost of basic household items. Average 1 lk crore monthly revenue through GST collection. Exempted for business upto 40 lk
  18. Insolvency and Bankruptcy Code, constitution of NCLT, 3 lakh crores of NPAs recovered, 66 cases resolved, 260 cases liquidated, resolution of stressed assets, 2100 companies pay back 83000 crore to banks settling their pending loan repayments
  19. 75 billion $ or Yen to Rupee exchange agreement with Japan
  20. 1 lakh shell companies deregistered, FCRA licenses of 4800 NGOs cancelled
  21. Fugitive Economic Offenders Bill, properties of economic fugitives seized and auctioned
  22. 1.9 lakh km of rural roads. Rural road connectivity at 91% from 55%
  23. 36 new airports, from 65 in 7 decades to 106, all states now in air connectivity map
  24. Effective international diplomacy following 59 visits to nations, 38 single, 10 double, 3 triple and 2 quadruple visits by PM.(Seen during Airstrikes,No Country opposed India)
  25. Benami Act for action against Money Laundering
  26. Rural sanitation coverage 95 % up from 39% (8.8 crore toilets)
  27. Solar energy capacity increased 8 fold from 2.63 GW to 22 GW, 19. 8.5 GW of biogas grid installed.
  28. Ganga waterway transportation, usage by shipping giant Maersk, cost of transportation reduced from 10/ton (road) / Rs 6/ton (rail) to Re 1/ton
  29. More than 2.4 crore households lit up, rural electricity coverage to households up from 70 to 95%, only 19836 homes remain (in Chhatisgarh) out of 2,48,09,235
  30. Electricity accessibility rank jump from 99 in 2014 to 26 in 2019
  31. 7 crore new gas connections to 3.5 crore households u/69000 conections per day, coverage 90% from 55%, 82% return for refill, 42% beneficiaries Dalits
  32. 14.4 crore mudra loans worth Rs 7 lakh crore disbursed
  33. 18000 remote villages connected with electricity
  34. 2.92 lakh km of optical fibre laid, 0.02% to 50% gram Panchayat connectivity
  35. Swachh bharat mission has saved, according to WHO, 3 lakh lives and will save 1.5 lakh lives per year.
  36. IT filers increase from 3.79 crore to 6.08 crore, enterprises registered for indirect tax up from 64 lk to 118 lakh
  37. Entry of India in global regimes Missile Technology Control regime (MTCR), WA (Wassenaar Arrangement) and Australia Group
  38. 17 crore soil health cards
  39. 1.5 crore houses built, 91.37 crore in rural areas and 13.5 lakh in urban areas against 25 lakh houses built between 2010-2014. House for all target year is 2022.
  40. 1,78,346 houses built in NE over existing 2875 houses built till 2014
  41. Home loan interest rate down from 10.3 % in 2014 to 8.4% in 2018, annual savings of Rs 47,160 for 30 lakhs over 30 years, no GST on affordable housing, 5% on remaining
  42. Trading agreement in rupee with Iran and UAE
  43. Common service centres up from 84k to 3 Lakh
  44. OROP implemented after 43 years, 35000 crores disbursed to 8 crore veterans
  45. India's vaccination programme Indradhanush amongst 12 best practices of world
  46. 5035 Jan Aushadhi and - 1054 medicines under price control (60-90% discounts).
  47. More than 150 Amrit stores, reduction of cost of cromium cobalt Knee implant from 1.58-2.5 lakh to 54,720 and high flex implant from Rs181728 to 56490 (69%), 85% reduction in cardiac stent price to Rs 28000
  48. 87% reduction in 400 cancer drugs
  49. Rate of Interest on higher education loans dropped from 14.75 in 2013 to 10.88% in 2019, savings of 1.18 lakh on 10 lakh loan over tenure of 60 months, Rs 2000 savings on EMI
  50. Data revolution: Cost of 1 GB $0.26 in India against $12.37 in US, $6.66 in UK and $75.2 in Zimbabwe. Unlimited mobile+ 45 Gb data = Rs 150 against Rs 1000 in 2013; annual savings of 10,200
  51. Katra rail line work completed after 16 years
  52. Dhola Sadiya bridge work completed after 16 years
  53. Sardar Sarovar Dam work completed after 15 years
  54. Aadhaar act
  55. Pakyong airport completed after 10 years
  56. Chennai Nashri Tunnel after 10 years
  57. Assam NRC after 40 years
  58. National War Memorial after 50 years
  59. NE cpas after 60 years
  60. Kollam bypass after 43 years
  61. Indo-Bangladesh enclaves after 42 years
  62. Bansagar canal project after 40 years
  63. Bogibeel bridge after 23 years
  64. Western peri expressway after 15 years
  65. Kota Chambal bridge after 11 years
  66. Maibang-Lumding Stretch completed
  67. Delhi Meerut Expressway completed
  68. Ganga Expressway project (world's longest) underway
  69. Metros in Ahmedabad, Nagpur, Jaipur, Lucknow, Washermenpet
  70. All umanned level crossings eliminated
  71. Ayushman Bharat: annual 5 lakh health care to every family, 15.05 lakh hospital admissions for secondary/ tertiary treatment, 2.4 crore e-cards generated as on 10 Mar 19 in 170 days. Target 50 crore people.
  72. 59minutes loan portal: 92,000 loan applications of MSME amounting to 30,000 crores approved, 6000 crores sanctioned till Nov 18
  73. 87% of farming house (owning land of 2 hctrs) or 12 cr ppl to get kisaan sammaan nidhi of Rs 6000 pr year. Rs 5215 cr transferred directly to 2.6 crore farmers in 37 days (for households with holding less than 0.01 hectares incm per month so far was Rs 8136 agnst exp of 6594
  74. 1.5 million electric rickshaws
  75. Procurement of 36 Rafale on Government to Government Basis avoiding middlemen
  76. 05 billion$ S 400 Triumf air defence missile system deal with Russia
  77. 145 M777 howitzer deal
  78. 22 Apache AH 64E multi-role combat helos
  79. 200 KA-226T helicopters
  80. 56 EADS CASA C-295 transport aircraft
  81. 15 CH 47 Chinook tactical transport helicopters
  82. 2.3 lakh Bullet proof jackets
  83. 1.6 lakh Bullet-proof helmets
  84. 777 mn USD Barak 8 LRSAM contract
  85. 5 bn USD S-400 air defence systems
  86. 10 Heron TP armed drones
  87. 4 additional P8I MR aircraft
  88. 40 units of Laser sensor border fence installed
  89. 72,400 Sig Sauer Assault rifles
  90. 100 self-propelled K9 Vajra howitzers
  91. 700000 AK-103 Kalashnikov assault rifles indigenous facility
  92. Surgical strikes in Myanmar, across LoC and in Pakistan. Only Country to bomb a Nuclear Powered Country
  93. 240 million visitors at Kumbh Mela 2019, cost 4236 crores @ Rs 177 per tourist, revenue 1.2 Lakh crores
  94. 833 teraflop supercomputer Param Shivay by IIT BHU at Rs 32.5 crores
  95. Divisional status to Ladakh
  96. 470 bed ESIC hospital in Ennore
  97. 100 bed ESIC hospital in Tiruppur
  98. Namami Gange - Ganga is 30% cleaner, 83 out of 97 ganga towns and 4456 villages achieved ODF status, 08 out of 16 drains emptying 16 crore l sewage into Ganga tapped. Target date Mar 2020
  99. 5,45,122 ODF villages, 598 ODF districts, 27 ODF states/ villages
  100. RERA implementation
  101. Udaan scheme - flight cost down from Rs 5000/1000 km in 2013 to 3400/1000 km in 2018, 34 airports operationalised, small towns connected, all states on aerial
  102. Preventive conservation of 39275570 folios, curative conservation of 3656863 filios, digitisation of 2.83 lakh manuscripts consisting of 2.93 crore pages
  103. India is now world's largest 2-wheeler manufacturer, 2nd largest smartphone manufacturer (94% of mobiles sold now made in India), 4th largest automaker, 2nd largest steel producer
  104. 5100 m Mandvi Bridge in Goa in 3.5 years
  105. Ease of doing Business ranking jump from 134 in 2014 to 77 in 2019
  106. Therubali - Singapur Bridge No 588
  107. Restoration of Asurgarh Fort, Kalahandi
  108. GeM portal with 731431 product categories, 180,862 registered sellers and 32114 govt buyers
  109. 10% EWS reservation
  110. 40% of ongoing 700 NH projects completed, adding 40,039 km between 2014-18 against 91,287 km between 1947-2014
  111. Highway construction rate jumped from 12 km/day in 2014 to 27 km/day in 2019
  112. 101 terrorists and 11 offenders extradited
  113. 90,000 ex-partite Indians evacuated
  114. Chabahar port, Sittwe port and Duqm port
  115. Military installation in Seychelles
  116. International logistics agreements with US, France and Singapore
  117. Work underway on 25 MLD ZLD Common Effluent Treatment Plant at Gujarat Eco Textile Park and will save 25 million litres of water per day
  118. Beautification of 65 railway stations, all stations fitted with LED lights, wi-fi, multi-brand food centres, kiosks, executive lounges, lifts (445 from 97 in 2014), escalators (603 from 199 in 2014), travellators and ramps
  119. Record number of foot over bridges built
  120. 871 new train services
  121. 180 new rail lines
  122. Dedicated railway freight corridor - 2 sections completed
  123. 100% electrification of railways underway, first solar powered railway station (Guwahati). First solar powered train (world's second), savings of Rs 40 Lakhs and 90,000 ltrs diesel per year
  124. Make in India semi-high-speed trains - Tejas, Gatiman and Vande Bharat
  125. Humsafar and Antodaya trains, Deen Dayalu and Anubhuti coaches, UDAY double decker, glass dome Vistadome coaches
  126. Project Swarn and Project Utkrisht to upgrade Rajdhani/Shatabdi and Mail/Express respectively
  127. Largest coach production in world at ICF, Chennai
  128. No more human extreta on railway tracks. Installation of 1.37 lakh out of 2.5 lakh completed in Jun 18.
  129. 400 wi-fi railway stations (Aug 18)
  130. 80% reduction in rail accidents
  131. 10 high speed rail corridors underway, target date 2025-26
  132. Export of world class customised coaches from MCF, Rae Bareli
  133. LIC and Air India register profit
  134. 2300 km rail tracks constructed, speed jumped from 4.1 km/day in 2014 to 6.53 km/day in 2018
  135. Neem coating of urea
  136. Gokul mission - record 160 million ton milk production
  137. Online availability of CBSE and NCERT books
  138. 10 crore LED bulbs distributed, 5000 crore savings
  139. Investment in urban infrastructure jumped from 157703 crores to 795500 crores
  140. Statue of Unity to commemorate Iron Man of India
  141. Rs 2509 crore sales in Khadi
  142. 482.36 million digital transactions worth Rs 74,978 crores in Oct 2018 against 0.3 million transactions worth Rs 90 crores in Nov 2016
  143. 30% increase in ATMs, 208% increase of PoS machines from 10.81 lakh in May 14 to 33.32 lakh in Aug 18, 111% increase in credit cards from 1.94 crore in May 14 to 4.10 crore in Aug 18, 144% increase in debit cards from 40.17 crore to 98.02 crore
  144. Ease of Doing Business Index 142 (2014) to 100 (2018)
  145. Ease of getting electricity index 99 (2014) to 26 (2018)
  146. UN's e-govt index 118 (2014) to 97(2018)
  147. Globalisation index 112 to 107 (2018)
  148. Innovation index 76 to 60 (2018)
  149. Competitiveness index 71 to 39
  150. Logistics performance index 54 to 35
  151. Global peace index 141 to 137
  152. DBR ranking 100 to 77
  153. India ranks 3rd in global start up ecosystem
  154. 06 crore jobs in MSME sector based on CII data
  155. 448 million formal jobs based on EPFO, NPS and PPF data
  156. 10 crore jobs in entrepreneurship via mudra and other schemes
  157. 80% increase in tax payers, 51.3 % increase in gross tax revenue
  158. Black Money report card - Voluntary income declaration scheme (Rs 65250 crore), IT search and survey operations (35,460 crore), Pradhan Mantri Garib Kalyan Yojana(5000 crore), Benami transactions Act (4300 crore), Black Money and Imposition of Tax Act (4100 crore)
160 Rs 6000 financial assiatence for pregnant women
161/1 . Sagarmala: port capacity increase from 8 to 14.7 lakh ton, cargo up from 89 to 116 MMT 8 new national waterways including ganga waterway NW-1 and Brahmaputra waterway NW-2.
161/2. domestic cruise service between Mumbai and Goa, ro-ro services on Ghoga-Dahej reducing travel distance from 294 to 31 km
161/3. New international cruise terminals at Chennai and Goa, railway line between Haridaspur and Paradip underway, LNG import terminal at Kamarajar port, Oil berth ai Jawahar Dweep,Coal berth at Mangalore port
161/4 . deep draft Iron ore berth at Paradip berth, JNPT SEZ, Kandla and Paradip smart industrial port city, largest dry dock and international ship repair facility at CSL, modernisation of 17 fishing harbours
  1. 800 km Delhi-Mumbai Expressway underway
  2. Replacement of bio-toilets with upgraded vacuum bio toilets in trains underway. Order for 500 placed on experimental basis.
  3. No terror strikes in hinterland
  4. 103 new KVs
  5. 62 new Navodaya Vidyalayas
  6. 6 new IITs against 16 in previous 57 years
  7. 6 new IIMs against 13 in previous 57 years
  8. 7 IIITs against 7 in previous 57 years
  9. 02 new IISER
  10. 12 new AIIMS against 7 in previous 57 years.
  11. 141 new universities against 30 in previous 57 years
  12. 01 new NIT
  13. Life Insurances @ Rs 12 annual and @ Rs 12 monthly premiums
  14. Atal Pension Yojana
  15. Pension to 42 crore people of unorganised sector
  16. Ambedkar memorial
  17. BHIM application for digital payments
  18. Khelo India Initiative for tracking of athletes' development, Rs 5 lk per annum scholarship for 1000 budding athletes per year for eight years each; monthly Rs 50000 out-of -pocket exptr, 2000 PETs, salary cap of coaches doubled from Rs 1-2 lk per month, target 15 yrs
  19. Special Task Force for Olympics
  20. RERA Act
  21. Bullet train maiden project
182/1. Rs 6.92 lakh crore Bharatmala project, 44 economic corridors with 9000 km road, 2000 km port connectivity, 9000km roads to connect district HQs with NH,
182/2. 2000 km road with Nepal, Bhutan, Bangladesh and Myanmar, opening up of 185 choke points, road development to char dham, 12 greenfield expressways spanning 1900 km
  1. 36 murtis retrieved and brought back to India in 2014-2019 under India Pride Project against 02 between 2000-2013, 02 in 90s, 03 in 80s, 01 in 70s and nil in 50s and 60s
  2. Unemployment rate 3.8% against 13.8 % in 2013
  3. India is a less-cash society now
  4. Develpment of Trincomalee and Columbo port while checkmating China's Hambantota by taking operations of near by (15 km away) Mattala Rajapaksha International Airport
  5. Plugging the 'double taxation avoidance' black money loophole through a new tax agreement with Mauritius
  6. Deal with Switzerland for automatic tax data sharing from 01 Jan 2019
189/1 Varanasi - Varanasi ring road phase 1 completed, phase 2 underway, inland waterways terminal, Babatpur airport highway, 140 MLD Dinaput STP, facelift to railway station, big cow shelter for stray cattle, BPO centre, piped gas project, Varanasi-Balia rail project,
189/2. Vande Bharat Express, Kashi Vishwanath temple - Ganga Ghat corridor project, renovation of all bathings ghats, LED illuminations of ghats and major roads, underground electricity cabling,
189/3. new sewage plants, 02 cancer treatment facilities, 65th to 29th rank in swachhata sarvekshan (2016), 90% ODF district.
  1. Creation of 100 Smart cities, 100 crore per year per city for 05 years, 500 acres for retrofitting, 50 acres for redevelopment, 250 acres for green field projects, 10% of energy from renewable resources, 80% of green building construction, special purpose vehicles.
191/1 Development of 500 AMRUT cities underway, urbanization project of rejuvenation and transformation which includes beach front development, prevention of beach erosion, improvement of water supply, replacement of pipelines,
191/2. New sewerage connections, greenery and open spaces, digital and smart facilities, e-governance, LED streetlights, public transport, storm water drainage projects in a phased manner, Target date 2022
  1. Increase in Child Sex Ratio (CSR) in 104 BBBP (Beti Bachao Beti Padhao) districts, anti-natal care registration in 119 districts and institutional deliveries in 146 out of total 640 districts as in Mar 18. CSR of Haryana increased from 871 to 914.
  2. International Yoga Day
  3. Aspirational Districts Programme: 115 'backward' districts placed under 'prabharis' and for competitive development on the basis of 49 performance indicators, target year 2022.
195/1. Make in India: 16.4 lakh crore investment committments, 1.5 lakh crore investment inquiries, 60 bn USD FDI, 26 sectors covered, 23 positions jump in World Bank's Doing Business Report (DBR), 32 places in WEF's Global Competitiveness Index (GCI),
195/2 19 places in Logistics Performance Index, 42 places in Ease of Doing Business index, schemes include Bharatmala, Sagarmala, dedicate freight corridors, industrial corridors, UDAN-RCS, Bharat Broadband Network, Digital India.
  1. 251 Passport Seva Kendras (PSKs) and Post Office Passport Seva kendras (POPSKs) against 77 till 2014, target of one PSK every 50 km across India.
  2. Unanimous election of Justice Dalveer Bhandari to ICJ forcing UK to pull out own nominee Christopher Greenwood, demonstrating India's clout in international arena.
  3. India Post Payments Bank: India's biggest banking outreach with 1.55 lakh post offices (2.5 times banking network) linked to IPPB system
  4. Philip Kotler award, Seoul Peace prize, Champion of the Earth Award, Grand Collar of the State of Palestine, Amir Abdulla Khan Award, King Abdulaziz Sash award, Amir Amanullah Khan award.
  5. 1900 gifts and memorabilia received by Modi auctioned and 11.7 crores added to Namami Gange fund, 1.4 c of Seoul Peace award also to Nammami Gange.
New Adds
  1. Removal of article 370 and thereby also 35a after several decades.
  2. Giving citizenship to persecuted minorities in Pakistan, Bangladesh and Afghanistan through passing of CAA.
  3. Trust for creation of Ram Mandir underway.
  4. Abolishment of Haj subsidy.
  5. Abolishment and criminalization of instant triple talak.
  6. Deal with Bodo community.
  7. Getting Maulana Masood Azhar listed as an UN designated terrorist.

Source - https://www.reddit.com/IndiaRWResources/comments/bgkus6/200_achievements_of_modi_govt/

List more achievements in the comment section and lets make the list bigger, a big thank you to our fallen kar sevak u/Alive_Firefighter
submitted by justchillar to Chodi [link] [comments]

Cases Displaying the Recent Climate of Chinese Economy

This is just a plain list that records the notable cases about China's recent economic woes.
China is rumoured to delay indefinitely its US-China phase one trade deal (fact sheet PDF) implementation that includes the increase of China's purchasing American products & services by at least $200 billion over the next two years, which is almost twice the size of what China purchased before the trade war began.
Okay.
And according to Tianyancha (天眼查), Chinese commercial database that compiles public records; more than 460,000 companies in China closed permanently in Q1 2020, with more than half of them having operated for under three years. [LINK]
Of course, this is mainly caused by the COVID-19 pandemic.
However, what's interesting to me is the following part: "more than half of them having operated for under three years." What happened three years ago?
Once you figure out how big the trade war has played in China's recent economic woes (the article samples listed below may help),
the real question is whose investment or money in China was getting destroyed especially for the last three years.
Other than the article samples listed below, two other data elements that would need to be assessed are: 1) financial loss from the US' blocking Huawei mobile OS & 5G and 2) financial loss from BRI projects.
With CCP, who has been working with Huawei as a team for a long time? [1] [2] [3]
........................................
Tale of How Shanghai clique and Prominent Globalists Got Together.
........................................
Sep 09, 2015 -- Fortune Reports: The real ticking time bomb in China’s economy [LINK]
"[China's] Local governments have borrowed this money with the blessing of China’s central government. In fact, China’s much-lauded $570 billion stimulus package in 2008, which dwarfed the American response to its crisis relative to each country’s respective GDP was funded mostly by local government debt. That program helped power China’s economic growth since 2008, but the dividends are now drying up. As Chinese growth slows, the central government is worried about the local governments’ abilities to finance the debt.
China could continue to kick the can down the road by bailing out its insolvent local governments. But this would run counter to President Xi Jinping’s efforts to curb the power of local officials and shift China’s growth model from investment led to consumption led. Last week, Beijing placed a $16 trillion yuan cap on Chinese government debt, up $600 million yuan from a cap it set last year. And this is after the government has been swapping debt with local governments, buying up real estate-financed local debt in place of government debt officially backed by the Chinese government."
Aug 24, 2016 -- SCMP: Wanted posters for fugitive debtors and runaway bosses symptoms of China’s economic woes [LINK]
"In the first seven months of this year, there were 38 instances of default by 18 bond issuers on the mainland, six of them SOEs. The defaults involved 24.8 billion yuan, more than double the total for the past two years combined. And while only a third of issuers in default this year were SOEs, they accounted for about two-thirds of the amount in default."
Jul 12, 2017 -- The Nikkei Reports: China government auditor flags dodgy books at key state companies [LINK]
"China's National Audit Office) delved into financial statements from 20 of the 101 state enterprises directly controlled by the central government, focusing on filings from the year 2015. The records are notoriously difficult for outsiders to access, as many of the companies are core unlisted units of major state-backed business groups.
Improprieties were unearthed at 18 of the 20, including 200.1 billion yuan ($29.4 billion) in revenue inflation over the last several years and roughly 20.3 billion yuan in improperly booked profit. Culprits included China National Petroleum, one of the country's largest oil producers; China National Chemical, or ChemChina, which recently acquired Switzerland's Syngenta, the world's top maker of agrochemicals; and China Baowu Steel Group."
........................................
2018
........................................
Jul 16: China’s $42-Trillion Debt Bubble Looms Larger than Trade War [LINK]
Oct 10: Financial woes build for HNA Group, forcing sale of subsidiaries and property [LINK]
........................................
2019
........................................
Jan 25: Sinopec Says It Lost $688 Million on ‘Misjudged’ Oil Prices [LINK]
Jun 11: China’s debt disease might wreck its uncrashable housing market [LINK]
Jul 18: More than 50 companies reportedly pull production out of China due to trade war [LINK]
Jul 19: China Minsheng Investment says it cannot repay the principal and interest on US$500 million of bonds as its debt woe deteriorates [LINK]
Sep 06: China Injects $126 Billion Into Its Slowing Economy [LINK]
Oct 06: China's foreign exchange reserves fallen to mere $3.1 trillion USD [LINK]
Nov 06: China Embraces Bankruptcy, U.S.-Style, to Cushion a Slowing Economy [LINK]
Nov 25: China Faces Biggest State Firm Offshore Debt Failure in 20 Years [LINK]
Nov 28: Chinese navy set to build fourth aircraft carrier, but plans for a more advanced ship are put on hold [LINK]
Dec 02: Tech Firm Peking University Founder Welches on USD 284 Million SCP, Has USD 43 Billion Debt [LINK]
Dec 02: Sinopec Group Slims Down Amid Push to Reinvigorate State Firms [LINK]
Dec 13: Fact Sheet: Agreement Between The United States Of America And The People’s Republic Of China Text [PDF LINK]
Dec 19: Money has been leaving China at a record rate. Beijing is battling to stem the tide [LINK]
Money was leaving the country at a record clip earlier this year through unauthorized channels, according to analysts. That's bad news for China, which needs to keep financial reserves high to maintain confidence in its markets.
........................................
2020
........................................
Feb 03: Coronavirus May Delay Hard-Fought U.S. Trade Wins in China [LINK]
Feb 16: China's Evergrande to offer 25% discount for all properties on sale in Feb, March [LINK]
Apr 02: Luckin Coffee stock tanks 80% after discovery that COO fabricated about $310 million in sales [LINK]
Apr 08: Chinese e-learning king TAL Education admits inflated sales [LINK]
Chinese law prohibits Chinese companies from submitting to normal U.S. auditing standards, and four Senators have already introduced a bill requiring them to do so. Should Trump be reelected ... either Beijing will relent on auditing standards or Chinese firms may start to face U.S. delisting threat.
Jul 14: Chinese $2.8bn memory chip project goes bust [LINK]
A Chinese company that launched a $2.8 billion government-backed semiconductor project four years ago is going bankrupt after it failed to attract investors, even as China tries to become self-sufficient in computer chips.
Jul 16: TSMC plans to halt chip supplies to Huawei in 2 months [LINK]
Jul 16: The $52 Trillion Bubble: China Grapples With Epic Property Boom [LINK]
Aug 26: U.S. Penalizes 24 Chinese Companies Over Role in South China Sea [LINK]
Aug 31: China’s Economy Shrinks, Ending a Nearly Half-Century of Growth [LINK]
Sep 09: Hongxin Semiconductor, promised China's first 7 nm chips, has gone bust [LINK]
A government-backed semiconductor manufacturing project based in the central Chinese city of Wuhan has gone belly-up, with key operator HSMC mired in debt. The local government said the project amounts to nearly RMB 128 billion (around $18.7 billion) in investment.
Sep 22: Huawei chairman urges U.S. to reconsider 'attack' on global supply chain [LINK]
Oct 13: EU imposes 48% tariffs on aluminium products from China [LINK]
Oct 18: China's economic growth drops to the lowest level since 1992 [LINK]
Oct 27: China’s Failing Small Banks Are Becoming a Big Problem [LINK]
The reality is that Beijing doesn’t have the wherewithal to guarantee the future of hundreds of smaller, provincial financial institutions that together sit on 73.4 trillion ($11 trillion USD) of yuan of total liabilities.

------------------------
☞ Go Back to the Short Story.
----
submitted by vanillabluesea to conspiracy [link] [comments]

Just 2 more Conspiracy Theories that turned out to be True

(i couldn't post in the previous one , word limit )

1.Big Brother or the Shadow Government

It is also called the “Deep State” by Peter Dale Scott, a professor at the University of California, Berkeley.
A shadow government is a "government-in-waiting" that remains in waiting with the intention of taking control of a government in response to some event. It turned out this was true on 9/11, when it was told to us by our mainstream media. For years, this was ridiculed as a silly, crazy conspiracy theory and, like the others listed here, turned out to be 100% true. It is also called the Continuity of Government.
The Continuity of Government (COG) is the principle of establishing defined procedures that allow a government to continue its essential operations in case of nuclear war or other catastrophic event. Since the end of the cold war, the policies and procedures for the COG have been altered according to realistic threats of that time.
These include but are not limited to a possible coup or overthrow by right wing terrorist groups, a terrorist attack in general, an assassination, and so on. Believe it or not the COG has been in effect since 2001.After 9/11, it went into action.
Now here is the kicker, many of the figures in Iran Contra, the Watergate Scandal, the alleged conspiracy to assassinate Kennedy, and many others listed here are indeed members of the COG. This is its own conspiracy as well.
The Secret Team:
The CIA and Its Allies in Control of the United States and the World is a book written by Air Force Col. L Fletcher Prouty, published in 1973.
From 1955 to 1963 Prouty was the "Focal Point Officer" for contacts between the CIA and the Pentagon on matters relating to military support for "black operations" but he was not assigned to the CIA and was not bound by any oath of secrecy. (From the first page of the 1974 Printing)
It was one of the first tell-all books about the inner workings of the CIA and was an important influence on the Oliver Stone movie JFK. But the main thrust of the book is how the CIA started as a think tank to analyze intelligence gathered from military sources but has grown to the monster it has become. The CIA had no authority to run their own agents or to carry out covert operations but they quickly did both and much more. This book tells about things they actually did and a lot about how the operate. In Prouty's own words, from the 1997 edition of The Secret Team: This is the fundamental game of the Secret Team. They have this power because they control secrecy and secret intelligence and because they have the ability to take advantage of the most modern communications system in the world, of global transportation systems, of quantities of weapons of all kinds, and when needed, the full support of a world-wide U.S. military supporting base structure.
They can use the finest intelligence system in the world, and most importantly, they have been able to operate under the canopy of an assumed, ever-present enemy called "Communism." It will be interesting to see what "enemy" develops in the years ahead. It appears that "UFO's and Aliens" are being primed to fulfill that role for the future.
To top all of this, there is the fact that the CIA, itself, has assumed the right to generate and direct secret operations. "He is not the first to allege that UFOs and Aliens are going to be used as a threat against the world to globalize the planet under One government."
The Report from Iron Mountain
The Report from Iron Mountain is a book, published in 1967 (during the Johnson Administration) by Dial Press, that states that it is the report of a government panel.
According to the report, a 15-member panel, called the Special Study Group, was set up in 1963 to examine what problems would occur if the U.S. entered a state of lasting peace.
They met at an underground nuclear bunker called Iron Mountain (as well as other, worldwide locations) and worked over the next two years. Iron Mountain is where the government has stored the flight 93 evidence from 9/11.A member of the panel, one "John Doe", a professor at a college in the Midwest, decided to release the report to the public. The heavily footnoted report concluded that peace was not in the interest of a stable society, that even if lasting peace, "could be achieved, it would almost certainly not be in the best interests of society to achieve it." War was a part of the economy.
Therefore, it was necessary to conceive a state of war for a stable economy. The government, the group theorized, would not exist without war, and nation states existed in order to wage war. War also served a vital function of diverting collective aggression. They recommended that bodies be created to emulate the economic functions of war.
They also recommended "blood games" and that the government create alternative foes that would scare the people with reports of alien life-forms and out of control pollution.
Another proposal was the reinstitution of slavery.
U.S. News and World Report claimed in its November 20, 1967 issue to have confirmation of the reality of the report from an unnamed government official, who added that when President Johnson read the report, he 'hit the roof' and ordered it to be suppressed for all time.
Additionally, sources were said to have revealed that orders were sent to U.S. embassies, instructing them to emphasize that the book had no relation to U.S. Government policy.
Project Blue Beam is also a common conspiracy theory that alleges that a faked alien landing would be used as a means of scaring the public into whatever global system is suggested. Some researchers suggest the Report from Iron Mountain might be fabricated, others swear it is real.
Bill Moyers, the American journalist and public commentator, has served as White House Press Secretary in the United States President Lyndon B. Johnson Administration from 1965 to 1967. He worked as a news commentator on television for ten years. Moyers has had an extensive involvement with public television, producing documentaries and news journal programs.
He has won numerous awards and honorary degrees. He has become well known as a trenchant critic of the U.S. media. Since 1990, Moyers has been President of the Schumann Center for Media and Democracy. He is considered by many to be a very credible outlet for the truth. He released a documentary titled, The Secret Government, which exposed the inner workings of a secret government much more vast that most people would ever imagine.
Though originally broadcast in 1987, it is even more relevant today. Interviews with respected top military, intelligence, and government insiders reveal both the history and secret objectives of powerful groups in the hidden shadows of our government.
Here is that documentary:
vid
For another powerful, highly revealing documentary on the manipulations of the secret government produced by BBC, click here.
The intrepid BBC team clearly shows how the War on Terror is largely a fabrication.
For those interested in very detailed information on the composition of the shadow or secret government from a less well-known source, take a look at the summary available here.

2. The Federal Reserve Bank

The fundamental promise of a central bank like the Federal Reserve is economic stability.
The theory is that manipulating the value of the currency allows financial booms to go higher, and crashes to be more mild. If growth becomes speculative and unsustainable, the central bank can make the price of money go up and force some deleveraging of risky investments - again, promising to make the crashes more mild.
The period leading up to the American revolution was characterized by increasingly authoritarian legislation from England. Acts passed in 1764 had a particularly harsh effect on the previously robust colonial economy.
The Sugar Act was in effect a tax cut on easily smuggled molasses, and a new tax on commodities that England more directly controlled trade over. The navy would be used in increased capacity to enforce trade laws and collect duties.
Perhaps even more significant than the militarization and expansion of taxes was the Currency Act passed later in the year 1764.
"The colonies suffered a constant shortage of currency with which to conduct trade. There were no gold or silver mines and currency could only be obtained through trade as regulated by Great Britain. Many of the colonies felt no alternative to printing their own paper money in the form of Bills of Credit."
The result was a true free market of currency - each bank competed, exchange rates fluctuated wildly, and merchants were hesitant to accept these notes as payment.
Of course, they didn't have 24-hour digital Forex markets, but I'll hold off opinions on the viability of unregulated currency for another time.
England's response was to seize control of the colonial money supply - forbidding banks, cities, and colony governments from printing their own. This law, passed so soon after the Sugar Act, started to really bring revolutionary tension inside the colonies to a higher level.
American bankers had learned early on that debasing a currency through inflation is a helpful way to pay off perpetual trade deficits - but Britain proved that the buyer of the currency would only take the deal for so long...
Following the (first) American Revolution, the "First Bank of the United States" was chartered to pay off collective war debts, and effectively distribute the cost of the revolution proportionately throughout all of the states. Although the bank had vocal and harsh skeptics, it only controlled about 20% of the nation's money supply.
Compared to today's central bank, it was nothing.
Thomas Jefferson argued vocally against the institution of the bank, mostly citing constitutional concerns and the limitations of government found in the 10th amendment.
There was one additional quote that hints at the deeper structural flaw of a central bank in a supposedly free capitalist economy.
"The existing banks will, without a doubt, enter into arrangements for lending their agency, and the more favorable, as there will be a competition among them for it; whereas the bill delivers us up bound to the national bank, who are free to refuse all arrangement, but on their own terms, and the public not free, on such refusal, to employ any other bank" –Thomas Jefferson.Basically, the existing banks will fight over gaining favor with the central bank - rather than improving their performance relative to a free market.
The profit margins associated with collusion would obviously outweigh the potential profits gained from legitimate business.
The Second Bank of the United States was passed five years after the first bank's charter expired. An early enemy of central banking, President James Madison, was looking for a way to stabilize the currency in 1816. This bank was also quite temporary - it would only stay in operation until 1833 when President Andrew Jackson would end federal deposits at the institution.
The charter expired in 1836 and the private corporation was bankrupt and liquidated by 1841.While the South had been the major opponent of central banking systems, the end of the Civil War allowed for (and also made necessary) the system of national banks that would dominate the next fifty years.
The Office of the Comptroller of the Currency (OCC) says that this post-war period of a unified national currency and system of national banks "worked well." [3] Taxes on state banks were imposed to encourage people to use the national banks - but liquidity problems persisted as the money supply did not match the economic cycles.
Overall, the American economy continued to grow faster than Europe, but the period did not bring economic stability by any stretch of the imagination. Several panics and runs on the bank - and it became a fact of life under this system of competing nationalized banks. In 1873, 1893, 1901, and 1907 significant panics caused a series of bank failures.
The new system wasn't stable at all, in fact, many suspected it was wrought with fraud and manipulation.
The Federal Reserve Bank of Minneapolis is not shy about attributing the causes of the Panic of 1907 to financial manipulation from the existing banking establishment.
"If Knickerbocker Trust would falter, then Congress and the public would lose faith in all trust companies and banks would stand to gain, the bankers reasoned."
In timing with natural economic cycles, major banks including J.P. Morgan and Chase launched an all-out assault on Heinze's Knickerbocker Trust.
Financial institutions on the inside started silently selling off assets in the competitor, and headlines about a few bad loans started making top spots in the newspapers.
The run on Knickerbocker turned into a general panic - and the Federal Government would come to the rescue of its privately owned "National Banks.
"During the Panic of 1907, "Depositors 'run' on the Knickerbocker Bank. J.P. Morgan and James Stillman of First National City Bank (Citibank) act as a "central bank," providing liquidity ... [to stop the bank run] President Theodore Roosevelt provides Morgan with $25 million in government funds ... to control the panic. Morgan, acting as a one-man central bank, decides which firms will fail and which firms will survive."
How did JP Morgan get so powerful that the government would provide them with funding to increase their power? They had key influence with positions inside the Administrations.
They had senators, congressmen, lobbyists, media moguls all working for them.
In 1886, a group of millionaires purchased Jekyll Island and converted it into a winter retreat and hunting ground, the USA's most exclusive club. By 1900, the club's roster represented 1/6th of the world's wealth. Names like Astor, Vanderbilt, Morgan, Pulitzer and Gould filled the club's register. Non- members, regardless of stature, were not allowed. Dignitaries like Winston Churchill and President McKinley were refused admission.
In 1908, the year after a national money panic purportedly created by J. P. Morgan, Congress established, in 1908, a National Monetary Authority. In 1910 another, more secretive, group was formed consisting of the chiefs of major corporations and banks in this country. The group left secretly by rail from Hoboken, New Jersey, and traveled anonymously to the hunting lodge on Jekyll Island.
In fact, the Clubhouse/hotel on the island has two conference rooms named for the "Federal Reserve." The meeting was so secret that none referred to the other by his last name. Why the need for secrecy?
Frank Vanderlip wrote later in the Saturday Evening Post,
"...it would have been fatal to Senator Aldrich's plan to have it known that he was calling on anybody from Wall Street to help him in preparing his bill...I do not feel it is any exaggeration to speak of our secret expedition to Jekyll Island as the occasion of the actual conception of what eventually became the Federal Reserve System."
At Jekyll Island, the true draftsman for the Federal Reserve was Paul Warburg. The plan was simple.
The new central bank could not be called a central bank because America did not want one, so it had to be given a deceptive name. Ostensibly, the bank was to be controlled by Congress, but a majority of its members were to be selected by the private banks that would own its stock.
To keep the public from thinking that the Federal Reserve would be controlled from New York, a system of twelve regional banks was designed. Given the concentration of money and credit in New York, the Federal Reserve Bank of New York controlled the system, making the regional concept initially nothing but a ruse.
The board and chairman were to be selected by the President, but in the words of Colonel Edward House, the board would serve such a term as to "put them out of the power of the President."
The power over the creation of money was to be taken from the people and placed in the hands of private bankers who could expand or contract credit as they felt best suited their needs. Why the opposition to a central bank? Americans at the time knew of the destruction to the economy the European central banks had caused to their respective countries and to countries who became their debtors.
They saw the large- scale government deficit spending and debt creation that occurred in Europe. But European financial moguls didn't rest until the New World was within their orbit. In 1902, Paul Warburg, a friend and associate of the Rothschilds and an expert on European central banking, came to this country as a partner in Kuhn, Loeb and Company.
He married the daughter of Solomon Loeb, one of the founders of the firm. The head of Kuhn, Loeb was Jacob Schiff, whose gift of $20 million in gold to the struggling Russian communists in 1917 no doubt saved their revolution. The Fed controls the banking system in the USA, not the Congress nor the people indirectly (as the Constitution dictates). The U.S. central bank strategy is a product of European banking interests.
Government interventionists got their wish in 1913 with the Federal Reserve (and income tax amendment). Just in time, too, because the nation needed a new source of unlimited cash to finance both sides of WW1 and eventually our own entry to the war.
After the war, with both sides owing us debt through the federal reserve backed banks, the center of finance moved from London to New York. But did the Federal Reserve reign in the money trusts and interlocking directorates? Not by a long shot. If anything, the Federal Reserve granted new powers to the National Banks by permitting overseas branches and new types of banking services.
The greatest gift to the bankers, was a virtually unlimited supply of loans when they experience liquidity problems.
From the early 1920s to 1929, the monetary supply expanded at a rapid pace and the nation experienced wild economic growth. Curiously, however, the number of banks started to decline for the first time in American history. Toward the end of the period, speculation and loose money had propelled asset and equity prices to unreal levels.
The stock market crashed, and as the banks struggled with liquidity problems, the Federal Reserve actually cut the money supply. Without a doubt, this is the greatest financial panic and economic collapse in American history - and it never could have happened on this scale without the Fed's intervention.
The number of banks crashed and a few of the old robber barons' banks managed to swoop in and grab up thousands of competitors for pennies on the dollar.
See:
America - From Freedom to Fascism The Money Masters Monopoly Men (below video):
VID
submitted by CuteBananaMuffin to conspiracy [link] [comments]

200 achievements of Modi Govt

  1. Fragile five to Fastest growing economy - India
  2. 11th largest to the 5th largest economy - India
  3. Share of world GDP from 2.43% in 2014 to 3.08% in 2018
  4. Average GDP 7.3% against 6.7% in previous regime
  5. Forex reserves from 300 bn USD in 2014 to 420 bn USD in 2018
  6. Doubling of FDI inflow from 36 bn USD in 2014 to 66 billion USD in 2018
  7. Inflation less than 2.3 % (Nov 18) against 10.1% in 2014
  8. Growth of sensex from 24,121.74 in 2014 to 36,395.03 on 12 Feb 19 (50.88%)
  9. Fiscal deficit under control
  10. Per capita income increased by 45% from Rs 86,647 in 2014 to Rs 1,25,397
  11. IT exemption from 2 lakh in 2014 to 5 lakh (effectively 9.85 lakh with home loan)
  12. Restaurant bills tax reduced from 18% in 2014 to 5%
  13. Transaction charges through card down from 1% to 0%, domestic money transfer fee down from Rs 5 in 2014 to zero
  14. Financial inclusion (32 crore bank accounts with 260 billion worth deposits). Almost 100% coverage from earlier 50%
  15. DBT (savings of 83000 crores @ 15000 crore annually), No of govt schemes DBT applied to increased from 34 in 2014 to 433, 2.7 lakh fake mid-day meal students, 3.3 crore fake LPG connections, 87 lakh fake MNREGA job cards, 3 crore fake ration cards eliminated
  16. Zero IT for businesses with turnover upto 60 lakhs
  17. GST exemplifying cooperative federalism, rates of 83 items down from pre-GST rates, out of 1211 items only 35 items in above 18% slab, 39% reduction of cost of basic household items. Average 1 lk crore monthly revenue through GST collection. Exempted for business upto 40 lk
  18. Insolvency and Bankruptcy Code, constitution of NCLT, 3 lakh crores of NPAs recovered, 66 cases resolved, 260 cases liquidated, resolution of stressed assets, 2100 companies pay back 83000 crore to banks settling their pending loan repayments
  19. 75 billion $ or Yen to Rupee exchange agreement with Japan
  20. 1 lakh shell companies deregistered, FCRA licenses of 4800 NGOs cancelled
  21. Fugitive Economic Offenders Bill, properties of economic fugitives seized and auctioned
  22. 1.9 lakh km of rural roads. Rural road connectivity at 91% from 55%
  23. 36 new airports, from 65 in 7 decades to 106, all states now in air connectivity map
  24. Effective international diplomacy following 59 visits to nations, 38 single, 10 double, 3 triple and 2 quadruple visits by PM.(Seen during Airstrikes,No Country opposed India)
  25. Benami Act for action against Money Laundering
  26. Rural sanitation coverage 95 % up from 39% (8.8 crore toilets)
  27. Solar energy capacity increased 8 fold from 2.63 GW to 22 GW, 19. 8.5 GW of biogas grid installed.
  28. Ganga waterway transportation, usage by shipping giant Maersk, cost of transportation reduced from 10/ton (road) / Rs 6/ton (rail) to Re 1/ton
  29. More than 2.4 crore households lit up, rural electricity coverage to households up from 70 to 95%, only 19836 homes remain (in Chhatisgarh) out of 2,48,09,235
  30. Electricity accessibility rank jump from 99 in 2014 to 26 in 2019
  31. 7 crore new gas connections to 3.5 crore households @69000 conections per day, coverage 90% from 55%, 82% return for refill, 42% beneficiaries Dalits
  32. 14.4 crore mudra loans worth Rs 7 lakh crore disbursed
  33. 18000 remote villages connected with electricity
  34. 2.92 lakh km of optical fibre laid, 0.02% to 50% gram Panchayat connectivity
  35. Swachh bharat mission has saved, according to WHO, 3 lakh lives and will save 1.5 lakh lives per year.
  36. IT filers increase from 3.79 crore to 6.08 crore, enterprises registered for indirect tax up from 64 lk to 118 lakh
  37. Entry of India in global regimes Missile Technology Control regime (MTCR), WA (Wassenaar Arrangement) and Australia Group
  38. 17 crore soil health cards
  39. 1.5 crore houses built, 91.37 crore in rural areas and 13.5 lakh in urban areas against 25 lakh houses built between 2010-2014. House for all target year is 2022.
  40. 1,78,346 houses built in NE over existing 2875 houses built till 2014
  41. Home loan interest rate down from 10.3 % in 2014 to 8.4% in 2018, annual savings of Rs 47,160 for 30 lakhs over 30 years, no GST on affordable housing, 5% on remaining
  42. Trading agreement in rupee with Iran and UAE
  43. Common service centres up from 84k to 3 Lakh
  44. OROP implemented after 43 years, 35000 crores disbursed to 8 crore veterans
  45. India's vaccination programme Indradhanush amongst 12 best practices of world
  46. 5035 Jan Aushadhi and - 1054 medicines under price control (60-90% discounts).
  47. More than 150 Amrit stores, reduction of cost of cromium cobalt Knee implant from 1.58-2.5 lakh to 54,720 and high flex implant from Rs181728 to 56490 (69%), 85% reduction in cardiac stent price to Rs 28000
  48. 87% reduction in 400 cancer drugs
  49. Rate of Interest on higher education loans dropped from 14.75 in 2013 to 10.88% in 2019, savings of 1.18 lakh on 10 lakh loan over tenure of 60 months, Rs 2000 savings on EMI
  50. Data revolution: Cost of 1 GB $0.26 in India against $12.37 in US, $6.66 in UK and $75.2 in Zimbabwe. Unlimited mobile+ 45 Gb data = Rs 150 against Rs 1000 in 2013; annual savings of 10,200
  51. Katra rail line work completed after 16 years
  52. Dhola Sadiya bridge work completed after 16 years
  53. Sardar Sarovar Dam work completed after 15 years
  54. Aadhaar act
  55. Pakyong airport completed after 10 years
  56. Chennai Nashri Tunnel after 10 years
  57. Assam NRC after 40 years
  58. National War Memorial after 50 years
  59. NE cpas after 60 years
  60. Kollam bypass after 43 years
  61. Indo-Bangladesh enclaves after 42 years
  62. Bansagar canal project after 40 years
  63. Bogibeel bridge after 23 years
  64. Western peri expressway after 15 years
  65. Kota Chambal bridge after 11 years
  66. Maibang-Lumding Stretch completed
  67. Delhi Meerut Expressway completed
  68. Ganga Expressway project (world's longest) underway
  69. Metros in Ahmedabad, Nagpur, Jaipur, Lucknow, Washermenpet
  70. All umanned level crossings eliminated
  71. Ayushman Bharat: annual 5 lakh health care to every family, 15.05 lakh hospital admissions for secondary/ tertiary treatment, 2.4 crore e-cards generated as on 10 Mar 19 in 170 days. Target 50 crore people.
  72. 59minutes loan portal: 92,000 loan applications of MSME amounting to 30,000 crores approved, 6000 crores sanctioned till Nov 18
  73. 87% of farming house (owning land of 2 hctrs) or 12 cr ppl to get kisaan sammaan nidhi of Rs 6000 pr year. Rs 5215 cr transferred directly to 2.6 crore farmers in 37 days (for households with holding less than 0.01 hectares incm per month so far was Rs 8136 agnst exp of 6594
  74. 1.5 million electric rickshaws
  75. Procurement of 36 Rafale on Government to Government Basis avoiding middlemen
  76. 05 billion$ S 400 Triumf air defence missile system deal with Russia
  77. 145 M777 howitzer deal
  78. 22 Apache AH 64E multi-role combat helos
  79. 200 KA-226T helicopters
  80. 56 EADS CASA C-295 transport aircraft
  81. 15 CH 47 Chinook tactical transport helicopters
  82. 2.3 lakh Bullet proof jackets
  83. 1.6 lakh Bullet-proof helmets
  84. 777 mn USD Barak 8 LRSAM contract
  85. 5 bn USD S-400 air defence systems
  86. 10 Heron TP armed drones
  87. 4 additional P8I MR aircraft
  88. 40 units of Laser sensor border fence installed
  89. 72,400 Sig Sauer Assault rifles
  90. 100 self-propelled K9 Vajra howitzers
  91. 700000 AK-103 Kalashnikov assault rifles indigenous facility
  92. Surgical strikes in Myanmar, across LoC and in Pakistan. Only Country to bomb a Nuclear Powered Country
  93. 240 million visitors at Kumbh Mela 2019, cost 4236 crores @ Rs 177 per tourist, revenue 1.2 Lakh crores
  94. 833 teraflop supercomputer Param Shivay by IIT BHU at Rs 32.5 crores
  95. Divisional status to Ladakh
  96. 470 bed ESIC hospital in Ennore
  97. 100 bed ESIC hospital in Tiruppur
  98. Namami Gange - Ganga is 30% cleaner, 83 out of 97 ganga towns and 4456 villages achieved ODF status, 08 out of 16 drains emptying 16 crore l sewage into Ganga tapped. Target date Mar 2020
  99. 5,45,122 ODF villages, 598 ODF districts, 27 ODF states/ villages
  100. RERA implementation
  101. Udaan scheme - flight cost down from Rs 5000/1000 km in 2013 to 3400/1000 km in 2018, 34 airports operationalised, small towns connected, all states on aerial
  102. Preventive conservation of 39275570 folios, curative conservation of 3656863 filios, digitisation of 2.83 lakh manuscripts consisting of 2.93 crore pages
  103. India is now world's largest 2-wheeler manufacturer, 2nd largest smartphone manufacturer (94% of mobiles sold now made in India), 4th largest automaker, 2nd largest steel producer
  104. 5100 m Mandvi Bridge in Goa in 3.5 years
  105. Ease of doing Business ranking jump from 134 in 2014 to 77 in 2019
  106. Therubali - Singapur Bridge No 588
  107. Restoration of Asurgarh Fort, Kalahandi
  108. GeM portal with 731431 product categories, 180,862 registered sellers and 32114 govt buyers
  109. 10% EWS reservation
  110. 40% of ongoing 700 NH projects completed, adding 40,039 km between 2014-18 against 91,287 km between 1947-2014
  111. Highway construction rate jumped from 12 km/day in 2014 to 27 km/day in 2019
  112. 101 terrorists and 11 offenders extradited
  113. 90,000 ex-partite Indians evacuated
  114. Chabahar port, Sittwe port and Duqm port
  115. Military installation in Seychelles
  116. International logistics agreements with US, France and Singapore
  117. Work underway on 25 MLD ZLD Common Effluent Treatment Plant at Gujarat Eco Textile Park and will save 25 million litres of water per day
  118. Beautification of 65 railway stations, all stations fitted with LED lights, wi-fi, multi-brand food centres, kiosks, executive lounges, lifts (445 from 97 in 2014), escalators (603 from 199 in 2014), travellators and ramps
  119. Record number of foot over bridges built
  120. 871 new train services
  121. 180 new rail lines
  122. Dedicated railway freight corridor - 2 sections completed
  123. 100% electrification of railways underway, first solar powered railway station (Guwahati). First solar powered train (world's second), savings of Rs 40 Lakhs and 90,000 ltrs diesel per year
  124. Make in India semi-high-speed trains - Tejas, Gatiman and Vande Bharat
  125. Humsafar and Antodaya trains, Deen Dayalu and Anubhuti coaches, UDAY double decker, glass dome Vistadome coaches
  126. Project Swarn and Project Utkrisht to upgrade Rajdhani/Shatabdi and Mail/Express respectively
  127. Largest coach production in world at ICF, Chennai
  128. No more human extreta on railway tracks. Installation of 1.37 lakh out of 2.5 lakh completed in Jun 18.
  129. 400 wi-fi railway stations (Aug 18)
  130. 80% reduction in rail accidents
  131. 10 high speed rail corridors underway, target date 2025-26
  132. Export of world class customised coaches from MCF, Rae Bareli
  133. LIC and Air India register profit
  134. 2300 km rail tracks constructed, speed jumped from 4.1 km/day in 2014 to 6.53 km/day in 2018
  135. Neem coating of urea
  136. Gokul mission - record 160 million ton milk production
  137. Online availability of CBSE and NCERT books
  138. 10 crore LED bulbs distributed, 5000 crore savings
  139. Investment in urban infrastructure jumped from 157703 crores to 795500 crores
  140. Statue of Unity to commemorate Iron Man of India
  141. Rs 2509 crore sales in Khadi
  142. 482.36 million digital transactions worth Rs 74,978 crores in Oct 2018 against 0.3 million transactions worth Rs 90 crores in Nov 2016
  143. 30% increase in ATMs, 208% increase of PoS machines from 10.81 lakh in May 14 to 33.32 lakh in Aug 18, 111% increase in credit cards from 1.94 crore in May 14 to 4.10 crore in Aug 18, 144% increase in debit cards from 40.17 crore to 98.02 crore
  144. Ease of Doing Business Index 142 (2014) to 100 (2018)
  145. Ease of getting electricity index 99 (2014) to 26 (2018)
  146. UN's e-govt index 118 (2014) to 97(2018)
  147. Globalisation index 112 to 107 (2018)
  148. Innovation index 76 to 60 (2018)
  149. Competitiveness index 71 to 39
  150. Logistics performance index 54 to 35
  151. Global peace index 141 to 137
  152. DBR ranking 100 to 77
  153. India ranks 3rd in global start up ecosystem
  154. 06 crore jobs in MSME sector based on CII data
  155. 448 million formal jobs based on EPFO, NPS and PPF data
  156. 10 crore jobs in entrepreneurship via mudra and other schemes
  157. 80% increase in tax payers, 51.3 % increase in gross tax revenue
  158. Black Money report card - Voluntary income declaration scheme (Rs 65250 crore), IT search and survey operations (35,460 crore), Pradhan Mantri Garib Kalyan Yojana(5000 crore), Benami transactions Act (4300 crore), Black Money and Imposition of Tax Act (4100 crore)
160 Rs 6000 financial assiatence for pregnant women
161/1 . Sagarmala: port capacity increase from 8 to 14.7 lakh ton, cargo up from 89 to 116 MMT 8 new national waterways including ganga waterway NW-1 and Brahmaputra waterway NW-2.
161/2. domestic cruise service between Mumbai and Goa, ro-ro services on Ghoga-Dahej reducing travel distance from 294 to 31 km
161/3. New international cruise terminals at Chennai and Goa, railway line between Haridaspur and Paradip underway, LNG import terminal at Kamarajar port, Oil berth ai Jawahar Dweep,Coal berth at Mangalore port
161/4 . deep draft Iron ore berth at Paradip berth, JNPT SEZ, Kandla and Paradip smart industrial port city, largest dry dock and international ship repair facility at CSL, modernisation of 17 fishing harbours
  1. 800 km Delhi-Mumbai Expressway underway
  2. Replacement of bio-toilets with upgraded vacuum bio toilets in trains underway. Order for 500 placed on experimental basis.
  3. No terror strikes in hinterland
  4. 103 new KVs
  5. 62 new Navodaya Vidyalayas
  6. 6 new IITs against 16 in previous 57 years
  7. 6 new IIMs against 13 in previous 57 years
  8. 7 IIITs against 7 in previous 57 years
  9. 02 new IISER
  10. 12 new AIIMS against 7 in previous 57 years.
  11. 141 new universities against 30 in previous 57 years
  12. 01 new NIT
  13. Life Insurances @ Rs 12 annual and @ Rs 12 monthly premiums
  14. Atal Pension Yojana
  15. Pension to 42 crore people of unorganised sector
  16. Ambedkar memorial
  17. BHIM application for digital payments
  18. Khelo India Initiative for tracking of athletes' development, Rs 5 lk per annum scholarship for 1000 budding athletes per year for eight years each; monthly Rs 50000 out-of -pocket exptr, 2000 PETs, salary cap of coaches doubled from Rs 1-2 lk per month, target 15 yrs
  19. Special Task Force for Olympics
  20. RERA Act
  21. Bullet train maiden project
182/1. Rs 6.92 lakh crore Bharatmala project, 44 economic corridors with 9000 km road, 2000 km port connectivity, 9000km roads to connect district HQs with NH,
182/2. 2000 km road with Nepal, Bhutan, Bangladesh and Myanmar, opening up of 185 choke points, road development to char dham, 12 greenfield expressways spanning 1900 km
  1. 36 murtis retrieved and brought back to India in 2014-2019 under India Pride Project against 02 between 2000-2013, 02 in 90s, 03 in 80s, 01 in 70s and nil in 50s and 60s
  2. Unemployment rate 3.8% against 13.8 % in 2013
  3. India is a less-cash society now
  4. Develpment of Trincomalee and Columbo port while checkmating China's Hambantota by taking operations of near by (15 km away) Mattala Rajapaksha International Airport
  5. Plugging the 'double taxation avoidance' black money loophole through a new tax agreement with Mauritius
  6. Deal with Switzerland for automatic tax data sharing from 01 Jan 2019
189/1 Varanasi - Varanasi ring road phase 1 completed, phase 2 underway, inland waterways terminal, Babatpur airport highway, 140 MLD Dinaput STP, facelift to railway station, big cow shelter for stray cattle, BPO centre, piped gas project, Varanasi-Balia rail project,
189/2. Vande Bharat Express, Kashi Vishwanath temple - Ganga Ghat corridor project, renovation of all bathings ghats, LED illuminations of ghats and major roads, underground electricity cabling,
189/3. new sewage plants, 02 cancer treatment facilities, 65th to 29th rank in swachhata sarvekshan (2016), 90% ODF district.
  1. Creation of 100 Smart cities, 100 crore per year per city for 05 years, 500 acres for retrofitting, 50 acres for redevelopment, 250 acres for green field projects, 10% of energy from renewable resources, 80% of green building construction, special purpose vehicles.
191/1 Development of 500 AMRUT cities underway, urbanization project of rejuvenation and transformation which includes beach front development, prevention of beach erosion, improvement of water supply, replacement of pipelines,
191/2. New sewerage connections, greenery and open spaces, digital and smart facilities, e-governance, LED streetlights, public transport, storm water drainage projects in a phased manner, Target date 2022
  1. Increase in Child Sex Ratio (CSR) in 104 BBBP (Beti Bachao Beti Padhao) districts, anti-natal care registration in 119 districts and institutional deliveries in 146 out of total 640 districts as in Mar 18. CSR of Haryana increased from 871 to 914.
  2. International Yoga Day
  3. Aspirational Districts Programme: 115 'backward' districts placed under 'prabharis' and for competitive development on the basis of 49 performance indicators, target year 2022.
195/1. Make in India: 16.4 lakh crore investment committments, 1.5 lakh crore investment inquiries, 60 bn USD FDI, 26 sectors covered, 23 positions jump in World Bank's Doing Business Report (DBR), 32 places in WEF's Global Competitiveness Index (GCI),
195/2 19 places in Logistics Performance Index, 42 places in Ease of Doing Business index, schemes include Bharatmala, Sagarmala, dedicate freight corridors, industrial corridors, UDAN-RCS, Bharat Broadband Network, Digital India.
  1. 251 Passport Seva Kendras (PSKs) and Post Office Passport Seva kendras (POPSKs) against 77 till 2014, target of one PSK every 50 km across India.
  2. Unanimous election of Justice Dalveer Bhandari to ICJ forcing UK to pull out own nominee Christopher Greenwood, demonstrating India's clout in international arena.
  3. India Post Payments Bank: India's biggest banking outreach with 1.55 lakh post offices (2.5 times banking network) linked to IPPB system
  4. Philip Kotler award, Seoul Peace prize, Champion of the Earth Award, Grand Collar of the State of Palestine, Amir Abdulla Khan Award, King Abdulaziz Sash award, Amir Amanullah Khan award.
  5. 1900 gifts and memorabilia received by Modi auctioned and 11.7 crores added to Namami Gange fund, 1.4 c of Seoul Peace award also to Nammami Gange.
submitted by Alive_Firefighter to IndiaSpeaks [link] [comments]

Some news you may have missed out on part 75.

Thanks to all who gave me such wonderful appreciation and to the mods who gave me platinum, I don't deserve your praise, I just love our country. I want it to succeed.
Now let's get riiiiiiiiigt into the neeeeeeewwws.
-PM Khan makes it to Foreign Policy magazine's 2019 Global Thinkers list
Prime Minister Imran Khan has been named among Foreign Policy magazine's 2019 list of 'Global Thinkers'. The short writeup on the premier states that Khan, "a former cricket star, finally got the job he had long coveted ─ prime minister"."His reward was an incredibly difficult to-do list, starting with Pakistan's looming fiscal and debt crises," it added.
Prime Minister Khan shares the spotlight with other world leaders including German Chancellor Angela Merkel, former US president Barack Obama and his wife Michelle, New Zealand Prime Minister Jacinda Ardern, and US lawmaker Alexandria Ocasio-Cortez.
-Atletico shoot for football future in Pakistan
Spain´s Atletico Madrid are taking on a challenge tougher than winning La Liga — developing football in cricket-mad Pakistan, where bat and ball are king, pitches come with stumps not goalposts, and even the prime minister is a former World Cup winner. During a recent session at the club´s new facility in Lahore — the country´s first European football academy — a cabal of Spanish coaches watched as a new class of young Pakistani hopefuls fired off penalty kicks.
-National Job Programme to be launched for providing jobs to youth
The National Job Programme will be launched under the Prime Minister’s Youth Programme for providing job opportunities to the educated youth. In this connection Special Assistant to Prime Minister on Youth Affairs Muhammad Usman Dar held a meeting with Gesellschaft für Internationale Zusammenarbeit in Islamabad on Monday to explore avenues of collaboration for the development of an effective National Job Programme.
The special assistant to the prime minister appreciated GIZ for its role in the development of Technical and Vocational Education and Training (TVET) sector in Pakistan. He expressed hope to leverage their expertise in the field for creating better employment opportunities for the youth. The National Job Programme would include vocational training of youth in best Technical and Vocational Training Institutes and their placements in relevant industries to spur national economic growth.
-You Can Even Sleep in This New Luxury Bus Service from Karachi to Quetta
The 9-hour journey between Karachi and Quetta has now been made easier thanks to a newly launched luxury service. ‘Super International’ is aiming to make the experience of traveling on a bus as comfortable as possible. For that, apart from the usual amenities, it offers an onboard sleeping facility. Hence, the company’s slogan ‘Sleep Well, Live Well.” According to details, the bus will depart from Sadar area of Karachi on alternate days throughout the week. The ticket price is still to be confirmed but it will be around Rs. 3,000 per person.
-KSE 100 picks 237 points on foreign inflow news
The benchmark KSE 100 index of Pakistan Stock Exchange surged by 237.27 points or (+0.60%) closed at 39,543 on Monday. Analysts at Arif Habib Limited said that the Market moved upwards on the back of positive news flow on financial support from friendly countries in Gulf, as well as anticipation of China’s support in the offing. Higher international crude prices helped E&P sector to perform better, with OGDC and PPL scoring 4M and 3.1M shares respectively. Besides, expectation of improvement in Core Delta for EPCL, helped stock reach new highs and last half hour’s trading pulled the price back above 41.
-Federal government released Rs 233 billion under PSDP
The federal government has released Rs233.4 billion against the total allocation of Rs675 billion under its Public Sector Development Programme (PSDP) 2018-19 for various ongoing and new schemes. The released funds include Rs86.5 billion for federal ministries, Rs111 billion for corporations, and Rs25.6 billion for special areas, according to a data released by Ministry of Planning, Development and Reform on Monday. Out of these allocations, the government released Rs101.46 billion for National Highway Authority out of total allocation of Rs185.2 billion, whereas Rs9.6 billion have been released for NTDC and PEPCO for which an amount of Rs33.36 billion was allocated under PSDP 2018-19. Similarly, Rs4.6 billion have been released for Communication Division (other than National Highway Authority) for which the government has earmarked Rs13.97 billion under PSDP 2018-19. Railways Division received Rs8.07 billion out of its total allocation of Rs28.06 billion whereas Aviation Division received Rs443.5 million out of total allocation of Rs3.65 billion. The government also released an amount of Rs11.8 billion for various development projects of Higher Education Commission out of total allocation of Rs30.9 billion.
The government also released Rs2.2 billion for National Health Services, Regulations and Coordination Division, for which an amount of Rs10.9 billion have been allocated. An amount of Rs1.44 billion has been released for Finance Division out of its total allocations of Rs12.34 billion and Rs540.68 million have been released for Climate Change Division out of its total allocations of Rs802.7 million for the current year, Rs20.3 million for Human Rights Division, and Rs408.5 million for National Food Security and Research Division.
-Discussions Continue on Economic Bailout Package for Pakistan: IMF
International Monetary Fund (IMF) and Pakistan are continuing discussions for a bailout package. Fitch Solutions stated in its latest report that the latest round of Chinese largesse has given Islamabad the confidence to snub the IMF’s more stringent requirements for obtaining funds. However, should Pakistan experience acute signs of a currency crisis over the coming months, we would not be surprised to see talks between Pakistan and the IMF resume, it added.
-PM Imran Khan holds important meeting with Qatari PM, followed by official dinner
Prime Minister Imran Khan met Prime Minister of Qatar Abdullah bin Nasser bin Khalifa Al Thani at his residence in Doha on Monday. Bilateral relations, with a focus on economic cooperation between the two countries, were discussed during the meeting. The Qatari Prime Minister also hosted a dinner in the honour of Prime Minister and his delegation.
-USD likely to trade in Rs138 and 139 range, positive news expected from Qatar: Malik Bostan
President Forex Association of Pakistan (FAP), Malik Bostan Khan has said that at positive news is expected from the Prime Minister Imran Khan’s visit of Qatar, adding that if Pakistan is able to get deferred payment facility on imported gas from Qatar, the country will sail out of economic crisis in three years. He said Pakistan’s delegation visiting Qatar would also discuss human resource and security exports to Qatar, which will give a boost to remittances.
-Over 3.9 crore children under age of five to undergo polio immunization across Pakistan
The first nationwide polio vaccination campaign of 2019 started across the country on Monday to immunize over 39 million children despite harsh cold weather with continuous rainfall and snowfall on hilly areas. According to an official of National Emergency Operations Centre (EOC), as many as 260,000 front line workers started going door to door across all provinces and towns to ensure more than 39 million children under the age of five receive two drops of the vaccine to protect them against the polio virus.
-Pakistan sees increase in IT exports, government targets $7 billion
The Information Technology (IT) and Telecommunication industry of the country has contributed US $ 540 million foreign exchange to national kitty through exports during first two quarters of this fiscal year 2018-2019. The telecommunication, computer and information services managed to export IT and IT-enabled services worth US $ 540 million, seeing an increase of US $ 20 million as compared to exports figures of same period last year, statistics of State Bank of Pakistan (SBP) revealed. It is pertinent to mention here that Pakistan's IT industry achieved a benchmark of US $ 1.065 billion of exports in last financial year 2017-18.
Federal Minister for Information Technology and Telecommunication Dr Khalid Maqbool Siddiqui Monday said that IT sector would bring a change in the country in future, so it is need of the hour time to digitalize the country. Talking to the media persons during his visit to the Virtual University (VU) here, he said that Pakistan was earning one billion dollars per annum through software development and its volume could be increased up to seven billion dollars per annum in the next five years
Similarly: IT exports fetch $540m in six months
According to Pakistan Software Export Board (PSEB), Pakistan’s IT & ITES-BPO industry comprises more than 2,500 companies, and this number is growing each year. The industry employs over 300,000 English-speaking professionals with many world-class experts in current and emerging IT products and technologies.
-UNGA president acknowledges Pakistan's peace-keeping history
President of the United Nations General Assembly(UNGA), Ms Maria Fernanda Espinosa Monday acknowledged Pakistan’s meritorious contributions to the United Nation peacekeeping missions and termed it one of the largest countries to have contributed to bringing peace in areas marred by insecurity and unrest. Ms Fernanda stated this while interacting with faculty members and students of National University of Science and Technology (NUST) during her visit to the university.
Ms Fernanda, accompanied by Ms Maleeha Lodhi, Permanent Representative of Pakistan to the UN, paid a visit to Centre for International Peace and Stability (CIPS) at NUST. Lt Gen Naweed Zaman, HI (M), (Retd), Rector NUST, along with NUST senior management and faculty received the esteemed guests upon arrival at the main campus. She also lauded NUST for providing peacekeeping training both to local and foreign troops.
-More than 40 World Nations to participate in Pakistan Navy International Exercise
Pakistan Navy will host AMAN 19 exercise in February this year under the slogan of 'Together for Peace'. According to Pakistan Navy , more than forty countries will participate in the exercise. It is aimed at fostering maritime cooperation, promoting safe and security maritime environment for regional and global stability and for preserving oceans which is the common heritage of mankind.
-Gwadar to be made a modern port city
The Federal Minister for Planning, Development and Reform Makhdum Khusro Bakhtyar chaired a meeting to review progress on Gwadar City Master Plan project here on Monday. The meeting was attended by Federal Minister for Maritime Affairs Syed Ali Haider Zaidi, Commander Southern Command, Gen. Asim Saleem Bajwa, Balochistan Provincial Minister for Information Zahoor Ahmed Buledi, Secretary Planning Zafar Hasan and other officials, said in statement issued by Ministry for Planning, Development and Reform.
Director General Gwadar Development Authority, Dr. Sajjad Hussain and Project Director China Pakistan Economic Corridor Hasaan Duad briefed the participants regarding the master plan. It was agreed to develop Gwadar as a modern smart port city, keeping in view the international standards being followed across the globe.
-Top Pakistani company announces completion of mega construction project in Iraq
Attock Cement on Monday announced it had finished civil, mechanical and electrical work on its Iraq project and the cement grinding unit was at commissioning stage. In a notification sent to the Pakistan Stock Exchange (PSX), Attock Cement said it was in the process of obtaining permission for the import of clinker. It added once it got the approval, the company would start the process of import of clinker and thereafter commence trial production.
-European Union to provide 40 Million Euros for Balochistan Water Conservation Projects
European Union and International Union for Conservation of Nature (IUCN) have agreed to work in Balochistan in Water Conservation projects. This was told by EU Ambassador to Pakistan Jean-Francois Cautaian and IUCN Country Representative Mahmood Akhtar Cheema who called on Advisor to Prime Minister on Climate Change Malik Amin Aslam.
Under the agreement European Union will provide forty million Euros and IUCN will provide technical and human resource assistance.The Advisor briefed the delegation about the Ministry of Climate Change performance in environmental protection and conservation and apprised them the" Recharge Pakistan Project " which aims at raising the under water table by conserving flood water in the right and left bank of Indus River reservoirs, that water could be utilised for domestic as well as horticulture purposes.
-Pakistan, Turkey could increase bilateral trade between through FTA
Free Trade Agreement (FTA) between Pakistan and Turkey could potentially increase bilateral trade with direct impact in the emerging geo-political scenario, said Secretary General of The Businessmen Panel (BMP-Federal) and former chairman of FPCCI standing committee Ahmad Jawad on Monday.
-Punjab government to construct tunnel at Baba Guru Nanak birthplace for Sikh Pilgrims
Provincial Minister Human Rights & Minority Affairs Aijaz Alam Augustine Monday said Pakistan Tehreek-e-Insaf (PTI) government had planned the construction of a tunnel from the railway station Nankana Sahib to the birthplace of Baba Guru Nanak to facilitate the Sikh pilgrims. The minister was talking to a delegation of minorities, led by MPA Mahendra Pal Singh, here.
He said that after completion of the project, the Sikh pedestrian pilgrims would be able to reach the birthplace of Baba Guru Nanak more comfortably. He said that under the PTI government, equal opportunities were being provided to the minorities in each sector besides protecting them. He said that provision of special funds for upgradation of the minority communities' worship places, upkeep and protection of their graveyards and their residential areas would be ensured. MPA Mahendra Pal Singh acknowledged the efforts made by the PTI government for the Sikh community.
-$1 billion export opportunity for Pakistan
Chief Executive Officer Pakistan Furniture Council (PFC) Mian Kashif Ashfaq has said Pakistan has great potential to export at least one billion dollars handmade wood furniture annually if the government properly patronizes furniture industry. In a statement, he urged the government to introduce a skill development programme for the export-oriented furniture industry with a view to promoting the country’s value-added sector. He said that a tax exempted furniture sector in Pakistan will enliven the economy in general, create new jobs and increase production level
-Bakhtiar calls for investor-friendly regulations in Gwadar
Planning, Development and Reform Minister Makhdoom Khusro Bakhtiar on Monday called for the provision of basic facilities to uplift Gwadar. He was chairing a meeting in the federal capital to review progress made on the Gwadar Master Plan project. The Gwadar Development Authority director general briefed the meeting about the master plan. It was decided that Gwadar would be made a green, clean and environment-friendly city. The minister instructed the authorities to initiate the process of preparing investor-friendly regulations in order to attract maximum investment in the port city.
-‘Govt taking all possible measures to facilitate private sector’
President Dr Arif Alvi said on Monday that revival of the economy was among his top priorities, adding that the government was committed to taking all possible measures to facilitate businesses. “The government is committed to developing the private sector through investment promotion, improvement in the ease of doing business, employment generation and fast growth of manufacturing sector,” he stated while talking to Amreli Steels Chairman Abbas Akberali.
The president underscored that investment in value-added products, where the country enjoyed a comparative advantage, was vital for economic revival. He said despite all challenges, the incumbent government was striving hard to develop an ecosystem which could attract investment in the country.
-FBR resolved 20% of total tax evasion and fraud cases involving billion of rupees in 2018, unearthed tax evasion worth Rs170 billion throughout Pakistan last year
Around 20% of the overall tax evasion and fraud cases involving billions of rupees have been resolved by the tax department during 2018.
The Director-General Intelligence and Investigation-Inland Revenue department has unearthed tax evasion worth Rs170 billion throughout Pakistan. Moreover, official data regarding these cases shows around 50,000 real estate transactions worth around Rs600 billion at deputy commissioner (DC) rate have been unearthed. However, the market value of these transactions unearthed is possibly going to be higher than the stated amount.
Out of these, around 7,500 transactions included people who were not present in tax rolls. Likewise, cases of people not on the tax rolls who purchased vehicles more than Rs10 million were also unearthed. According to an official, the number of these kinds of people numbers in the thousands in Islamabad alone. And all case reports were forwarded to the Federal Board of Revenue’s regional tax offices (RTOs) and large taxpayers’ units (LTUs) for recovery and execution.
-Govt to install 0.1m digital meters by Feb-end
Federal Minister for Power Omar Ayub Khan has directed electricity distribution companies to immediately undertake GIS (geographic information system) mapping of all 11-kilovolt feeders and replace 100,000 electromagnetic meters with digital meters by the end of February 2019 in order to reduce line losses.
The directives were issued in a meeting with chief executive officers of all the power distribution companies at the committee room of the Power Division on Monday.
The minister directed the CEOs to personally inspect the power transformers of various capacities on a random basis to ascertain their mechanical fitness. He also called for launching a clean-up operation in the highly populated areas and removing hazardous wires and other such things.
-Peshawar airport to commence night-time flight operations after five years
After a gap of five years, Bacha Khan International Airport in Peshawar will start night-time flight operations from January 22. The first flight, after the resumption of 24-hour flight operations, will be to Sharjah. Night flight operations were ceased in 2014 after gunmen fired at a Pakistan International Airlines (PIA) aircraft while it was landing. One passenger was reported dead in the incident while a member of the cabin crew was injured.
Khyber Pakhtunkhwa (K-P) Chief Minister Mahmood Khan was apprised about the plan and has been requested to appear for the inaugural flight. On January 3, the Civil Aviation Authority (CAA) installed a state-of-the-art full body scanner at the terminal to check for smuggling and money laundering.
-Weekly review: KSE-100 index posts gains for third successive week
The stock market had a somewhat decent performance during the outgoing week as the KSE-100 index advanced 258 points or 0.66% to settle at 39,307.
It was the third successive weekly rise, indicating that the cloud of uncertainty that hovered over the market was finally vanishing. The renewed interest was seen ahead of the upcoming mini-budget announcement, hinting that the new finance bill may bring good news for the investors. Expectations of a possible reduction or abolition of advance tax of 0.02% on brokers fuelled positive sentiments at the bourse.
The positivity was evident on first trading day of the week as the benchmark index rallied, following Finance Minister Asad Umar’s reassurances to the business community during his visit to Karachi at the weekend. Additionally, anticipation of measures to improve ease of doing business and reduction in input cost for the export-oriented sector also helped boost sentiments.
-Mazari underscores need for restructuring in Sindh, Punjab police
Underscoring the need for restructuring in Sindh and Punjab police, Minister for Human Rights Shireen Mazari on Monday accused Pakistan Muslim League-Nawaz (PML-N) government of politicizing police. Mazari said that time has come to end the decades of tolerance for killing through encounters. She said that cops involved in Sahiwal shootout should be given exemplary punishment. The minister clarified that Prime Minister Imran Khan had not appreciated the counter terrorism department.
submitted by FashBasher1 to pakistan [link] [comments]

Bank Financial Management  Exchange Rates And Forex ... Exchange Rates and Forex Business (Part 1) - CAIIB (BFM) Video Introduction to Exchange Rates and Forex Markets - YouTube Exchange Rates and Forex Business (part 8) - YouTube PrimeCapitec: What is Forex How Does Forex Work Forex Education And Trading For Beginners Exchange Rates Defined - Strategic Business Management ... BFM  CAIIB  FOREIGN EXCHANGE (FOREX MARKET)  CASE STUDY ASKED IN CAIIB EXAM EXPLAINED IN HINDI

OFX Global Currency Account. The multi-currency account that lets you pay and get paid in the foreign currencies you do business in. Get Paid: Send and accept multi-currency payments Make Payments: Pay taxes and suppliers in the same currency and avoid unnecessary conversion fees. Integrate with Xero: Invoice in foreign currencies and sync transactions automatically. Mod A: Ch1 -Exchange Rates and Forex Business. November 15, 2017 November 15, 2017 Mr X. Major Participants in Forex Markets: Central Banks- managing reserves and using currency markets to smoothen out the value of home currency; Commercial Banks- Offering exchange of currencies to their retail clients; Investment Banks- Moving funds from one country to another using exchange markets; Forex ... Forex Currencies Exchange Rates - 12 November, 2020. Forex Quotes change rapidly during the trading day. Exchange rate is the cost of the chosen currency at a certain moment of time in comparison with the other currency. In the Forex Rates table below you can find the exchange rates of the most popular currencies as well as the latest fluctuations between them. You can also use our free ... Todays Exchange Rates (12th November 11:39 AM) ... Head Office, Metropole House Plot 8-10 +256-414-232620/232773. Oasis Mall Branch. Oasis Mall-Nakumat,Yusuf Lule Road +256-414-252600. Garden City Branch. Garden City Shopping Mall,Yusuf Lule Road. +256-414-252006. Metroplex Branch. Metroplex Shopping Mall Nalya. +256-414-240088. Victoria Mall Branch. Victoria Mall Entebbe. +256-392-080253 ... Access currency exchange rates back to January, 1990: Type currency names, 3-letter ISO currency symbols, or country names to select your currency. Convert world currencies, precious metals, or obsolete currencies, which are marked with an asterisk (*). The money exchange business needs a series of licenses and regulations. Normally these norms vary from state to state. Not having the required license is considered to be a criminal violation. Each state has a separate licensing department. Individuals interested in starting this business, need to apply for these departments. They have to get the required nod before proceeding any further. The ... Free foreign exchange rates and tools including a currency conversion calculator, historical rates and graphs, and a monthly exchange rate average.

[index] [27908] [28206] [28290] [25819] [20829] [10886] [15499] [24650] [12311] [12122]

Bank Financial Management Exchange Rates And Forex ...

The need to exchange currencies is the primary reason why the forex market is the largest, most liquid financial market in the world. It dwarfs other markets in size, even the stock market, with ... Different countries have different currencies, and understanding how their values are determined is fundamental to understanding how trade between nations ta... Link to this course:https://click.linksynergy.com/deeplink?id=Gw/ETjJoU9M&mid=40328&murl=https%3A%2F%2Fwww.coursera.org%2Flearn%2Fstrategic-business-management-... CAIIB BFM MOST EXPECTED PROBLEMS FROM EXCHANGE RATES AND FOREX BUSINESS PART 1 - Duration: 28:54. Life Made Easy With Vanditha Anil 29,497 views. 28:54. ... Buy CAIIB Video Lecture Course Starting With Rs 800/- Call Us: 9999685127, 7827546946 https://www.jaiibcaiibstudymaterial.com/ Email ID: [email protected] Foreign Exchange -By Ravi Jain # Foreign Exchange #Forex #Case Study #JAIIB #CAIIB Usefulness of video : For Bankers , Engineers , CAIIB For common people -U... Exchange Rates and Forex Business (Part 1) - CAIIB (BFM) Video RAHUL PARMAR. Loading... Unsubscribe from RAHUL PARMAR? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 9.36K ...

http://binaryoptiontrade.lasstetsvemanhese.ml