Income Tax Department to run a city specific tax scrutiny: Co-op bank deposits in Bangalore, Cars in Lucknow, Films in Kolkata (Times of India). Nothing wrong with this drive, black money doesn’t sit in Swiss banks anymore, it is largely in India. But I just wish they explored real estate - it’s a far bigger black money source.
Andhra farm loan waiver turns into recast, but RBI says there’s no justification (Business Standard) Oh, those pesky election promises.
Modi’s “New” India is off to a Bad Start (Bloomberg). We won’t give up our food subsidies, no matter what. But then, neither will the US or Europe.
On that note, V. Anantha Nageswaran argues that India’s stand is right. (Livemint) There is really no need to benchmark to 1986 prices, for max-support metrics.
Reliance Power will acquire JP Power’s 1800 MW Hydel Plants (Livemint). Stock gains big but closes up only 3%. (Blah.)
A good piece by Ajay Shah on why Retail Investors are NOT the problem in Indian derivatives markets. (Ajay Shah). I believe Indian retail is an important part of the solution, and this concept of “sophisticated investors only” is just bullshit.
A Great Discussion with @skupor @davemcclure @msuster on Changes in the VC Industry (BothSidesOfTheTable) If you’re a startup or a VC, this is a great read.