Govt to complete budgetary exercise by 24th March

Finance minister Pranab Mukherjee will initiate the discussion on the budget in the Lok Sabha today and will reply on the debate on Thursday, according to parliamentary affairs minister Pawan Kumar Bansal

New Delhi: The government proposes to complete the exercise for passage of general budget for 2011-12 in Parliament by 24th March 24, parliamentary affairs minister Pawan Kumar Bansal said yesterday.

Finance minister Pranab Mukherjee will initiate the discussion on the budget in the Lok Sabha on Tuesday and will reply on the debate on Thursday, Mr Bansal told reporters here.

The discussions on the budget will be taken up in the Rajya Sabha on 9th and 10th March, he said, adding that the finance minister will reply to the debate in the Upper House on 11th March.

The Lok Sabha will discuss demands for grants of only four ministries-rural development, external affairs, mining and road transport. In the Rajya Sabha discussions will take place on demands of ministries of tribal affairs, minorities affairs, defence and civil aviation.

Guillotine will be applied in the Lok Sabha to discuss the demands of other ministries on 17th March.

Guillotine is a parliamentary procedure to curtail debate on demands for grants of various ministries to ensure timely passage of the finance bill, which completes the budgetary exercise.

The Finance Bill, which incorporates tax proposals for 2011-12, will be taken up for discussion on 21st and 22nd March in the Lower House and the entire process would be completed by 24th March, Mr Bansal said.

Mr Mukherjee had unveiled the budget proposals for 2011-12 in the Lok Sabha on 28th February.

The budget session is being curtailed due to the forthcoming assembly elections in five states-West Bengal, Assam, Kerala, Tamil Nadu and Puducherry.

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Tata Capital: Cute creative, weak strategy

There is a serious lack of new positioning ideas in the very saturated financial services category, and when your positioning itself is very weak, not even the most entertaining, charming advertising will save you

Okay, so we'll take care of you, we'll go out of our way to serve you, we'll do our damndest to be your partner, blah, blah, is now old fash.

Tata Capital, yet another wealth management 'expert', has gone way beyond this. In fact, they have positioned themselves as 'the Mother Teresa' of the financial services industry, so to speak. Their promise? 'We'll put you, the customer, ahead of our own interests.' In other words, it's 'You before I'.

Sounds like a lot of hot air, to be frank. Even the most unintelligent investor knows that no business venture goes full on charity. Granted, they may allow the leftover lunch from the office cafeteria to reach the underprivileged folks, but that's about it. This sort of desperate promise only highlights one thing: The serious lack of new positioning ideas in the very saturated financial services category.



Having said that, and despite my scepticism on this 'noble' promise, I must say the TV commercial is damn cute. It features a little Sardarji boy, as he quietly enters a dark room to check the present he's received for his birthday. And he discovers his gift is bigger than the one meant for his brother. A nice little soul that he is, the lad swaps the labels on the gift packs, so that the bada gift goes to his brother. The next morning when the gifts are being unwrapped by the brothers, our little hero gets immense joy out of watching his brother looking happy at receiving a bigger gift.

The voiceover says: 'Tata Capital. Kare wahi jo aap ke liye sahi'.

Yes, the ad is very sweet and endearing. And the two little Sardar kids are totally cool, and they make sure you will enjoy the ad on repeated exposures.
However, the foundation itself is very weak.

Financial services companies anyway carry little credibility in the marketplace, and therefore a promise that we put the customer's interests before ours is not only incredible, it's actually laughable.

Another thing: The commercial carries very poor branding for Tata Capital, and all that you will recall is the cute Sikh boys. So even that purpose is not being served out here.

Moral of the story: When your positioning itself is very weak, not even the most entertaining, charming advertising will save you.

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COMMENTS

Piyush Panjuani

6 years ago

Hi Anil,
Absolutely... great observation. A charming ad yet fails in its final objective.
Cheers,
Piyush.

These bonds will tell you why the US is not broke

America today is able to borrow at historically low interest rates, paying 0.68% on a two-year note that it had to offer at 5.1% before the financial crisis began in 2007.

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