Policies in BJP manifesto bode well if implemented, says Nomura

According to Nomura, when compared to the Congress manifesto, which focusses on entitlements, the BJP is relying on effective delivery and implementation and better rural infrastructure to result in rural prosperity

The Bharatiya Janata Party (BJP) on Monday released its manifesto for the general election 2014. "While the vision of both BJP and Indian National Congress (Congress) parties remains on higher growth and lower inflation, their strategies differ and it will finally boil down to implementation. Opinion polls continue to point to rising momentum in favour of the BJP in the general elections. We believe the policies laid out in the BJP’s manifesto appear both sound and prudent, and, if implemented, bode well for the economy," says Nomura in a research note.


According to Nomura, when compared to the Congress manifesto, which focusses on entitlements, the BJP is relying on effective delivery and implementation and better rural infrastructure to result in rural prosperity. Similarly, rather than promoting higher support prices as promised by the Congress, the BJP plans to develop the agriculture sector by increasing public investment and boosting productivity. Overall, the BJP’s policies seem more centre-right, as expected, versus Congress’ more centre-left policies, it added.


Earlier, Nomura, while commenting on the manifesto released by Congress on 26th March, had said that the differentiating factor in the next elections will be the ability and the willingness of the new government to take up these reforms.


"The Congress’ manifesto suggests that the focus will be on getting the economy back on track. However, the entitlement-based policies will continue and will be widened to cover housing and health, which will entail a higher fiscal cost. Policies such as raising the minimum support price for farmers will also be inflationary. Other suggestions regarding economic reforms have been on the table for a long time now," Nomura added.


Here are the key highlights of manifestos released by BJP and Congress...



  • Check inflation by setting up a price stabilisation fund, unbundling the Food
  • Corporation of India, disseminate real-time data to farmers and evolve a single
  • 'National Agriculture Market'.
  • Promote job creation by developing labour-intensive manufacturing (textile, footwear, electronics assembly etc.), tourism, agriculture, retail, infrastructure, housing and by promoting self-employment among youth.
  • Centre-state relations: Evolve a model of national development driven by states, and grant fiscal autonomy to the states.
  • Urbanisation: To build 100 new cities enabled with the latest in technology and infrastructure. The approach to urban development will be based on integrated habitat development – building on concepts like twin cities and satellite towns.
  • Rural prosperity: Encourage rural development through improving village-level infrastructure, job creation, security in rural areas and linkages to markets.
  • Health & education: Public spending on education to be raised to 6% of GDP, with a focus on skill development and employability. On health, provide access and better quality services at a lower cost.
  • Economic revival to be promoted by (a) restoring confidence (b) ensuring fiscal discipline without making compromises on development and asset creation (c) undertaking banking reform and (d) encouraging savings.
  • Boost manufacturing sector: Rationalise interest rates and have a clear tax policy; facilitate setting up of software and hardware manufacturing units.
  • Tax reform: Adopt a goods and services tax (GST), rationalise and simplify the tax regime and provide tax incentives for investments in R&D.
  • Foreign direct investment: FDI to be allowed in all sectors needed for job and asset creation and infrastructure, barring in multi-brand retail.
  • Agriculture development: Increase public investment in agriculture, encourage higher productivity through better irrigation techniques and reform the Agriculture Produce and Marketing Act.
  • Land acquisition: Adopt a ‘National Land Use Policy', which would look at the scientific acquisition of non-cultivable land and its development.
  • Infrastructure: Expedite work on the freight corridors and attendant industrial corridors, national highway construction, connect all villages through all-weather roads, port and airport development, set up gas grids, national optical-fibre network and modernise railways. A low-cost housing programme is also planned.


  • Expanding the rights-based program –
    to offer the right to housing and
    the right to healthcare
  • Committed to higher support prices for farmers
  • Infrastructure and growth
  • Independent regulator for natural resources
  • 100% electricity access in urban areas and 94% in rural areas
  • Restore real GDP growth to above 8% within the next three years
  • Set up the National Investment Facilitation Panel headed by the Prime Minister
  • Invest $1 trillion in the infrastructure sector over the next decade
  • Achieve 10% growth in the manufacturing sector
  • Job creation and growth
  • To unveil a new job creation agenda
  • To create consensus on private sector job reservation
  • Fiscal and tax policies
  • Aim to reduce the fiscal deficit to 3% of GDP by FY17
  • Implement Goods and Services Tax (GST) and Direct Tax
    Code (DTC) within one year
  • Give subsidies only where absolutely necessary
  • Abolish all export taxes
  • Ensure risk of retroactive taxes is avoided. Ensure foreign companies
  • pay tax where profits earned
  • Price stability and financial sector reforms
  • RBI must balance price stability and growth concerns
  • Immediately implement all the recommendations of the
    Financial Sector Legislative Reforms Committee (FSLRC)




shadi katyal

3 years ago

The manifesto will come in action when after Ram Temple is
completed or before.
There is nothing about reformation about Labour Laws, Union and changes in industrial policy . Will the permi9t raj and all the road blocks to discourage investment continue.
Where is the talk of taking immediate action against the crooks contractors etc.
It seems RSS under the umbrella of BJP will not have time to do anything but promote Hinduvta and build the temple. Will the saffron clad Babas and Yogi allow such changes????

Win XP's extended life to end on Tuesday

Win XP customers, will no longer receive new security updates, hotfixes, free or paid assisted support options for their OS from Tuesday

Windows XP, one of the most popular operating system (OS) ever emerged from software giant Microsoft's stable will no longer receive any technical support from the company starting Tuesday. This brings down curtains on the longest running OS from Microsoft. In January 2014, Net Application reported a market share of 29.23% for XP, while W3Schools reported a share of 11.0%. Windows XP was the most widely used operating system until August 2012, when Windows 7 overtook it.


From Tuesday, customers will no longer receive new security updates, hotfixes, free or paid assisted support options or online technical content updates for their XP OS.


Windows XP, which was launched in October 2001, is three generations behind the latest operating system Windows 8 that hit markets in October 2012. The current XP version is called Windows XP Service Pack 3.


Microsoft will also stop automatic updates and Microsoft Security Essentials for XP from 8th April.


In a blog posting, Tim Rains, director of trustworthy computing division at Microsoft, said, "There is a sense of urgency because after April 8, Windows XP Service Pack 3 (SP3) customers will no longer receive new security updates, non-security hotfixes, free or paid assisted support options or online technical content updates."


This means that running Windows XP when the product is obsolete (after support ends) will increase the risk of technology being affected by cybercriminals attempting to do harm, he had said.


In February this year, the US-based company had said its PC install base for large enterprises in India is about 4 million units, of which around 84% migrated from Windows XP.


The tech giant had indicated that a number of ATMs are yet to upgrade and such cash vending machine may face security risk.


The number of ATMs using Windows XP is higher as compared to 16% PCs which need upgradation.


There are roughly about 1 lakh ATMs in India and many of them are running Windows XP. They have the same support policy and will be out of support, something which the RBI guidelines also referred.


Last month, the Reserve Bank of India (RBI) had warned that banking operations, including ATM services, may be hit as support from Microsoft for Windows XP operating system will end from April 8 and had asked banks to take immediate steps.


However, Indian Banks Association (IBA) chief executive MV Tanksale had said only old ATMs might face some problems, while the newer machines run on other platforms.


Coming back to Win XP, on 14 April 2009, the OS exited mainstream support and entered the extended Support phase; Microsoft continued to provide security updates every month for Windows XP; however, free technical support, warranty claims, and design changes were no longer being offered. Extended support will end on 8 April 2014, over 12 years since the release of XP; normally Microsoft products have a support life cycle of only 10 years.


Following the end of support, XP will officially be declared end-of-life, and no more security patches or new support information will be provided for free. However, "critical patches" will still be created, and made available only to customers subscribing to a paid "Custom Support" plan.


FinMin detects unauthorised access of online I-T returns, denies hacking

Income tax online return accounts of certain people have been accessed by unauthorised people but there was no hacking or breach of its security system involved, the Finance Ministry says

The Finance Ministry has said that certain online return accounts for income tax filings have been accessed by unauthorised persons.


Replying to an query under the Right to Information (RTI) Act, the Ministry said a process of “multifunctional authentication” has been designed and will be in place shortly to address any illegal access to e-filers’ accounts.


Last year, Mumbai Police, which was probing the alleged hacking into Anil Ambani’s e-filing of Income-Tax (I-T) returns account by a Hyderabad-based chartered accountant (CA) student, found that another CA student has hacked into I-T accounts of Sachin Tendulkar, Mahindra Singh Dhoni, Shah Rukh Khan and Salman Khan.


According to Police, during the probe of the case of a Hyderabad-based young CA student hacking into the IT account of Ambani, it had emerged that the Anil Dhirubhai Ambani Group (ADAG) chairman’s account was also fraudulently accessed from Noida. The probe took the police to Vishal Kaushal Company, an accountancy firm in Noida, where CA student Sanchit Katiyal (22) was found to have hacked into Ambani’s account as well.


Like the Hyderabad based girl, Sanchit had also for curiosity had hacked into Ambani’s account on 26th June. He first accessed the accounts of Shah Rukh and Salman on 22nd June, Dhoni’s account on 24th June and then broke into Ambani’s account. He again accessed Dhoni’s account on 28th June and Sachin’s account on 4th July.


The Finance Ministry, however, had said no instance of “hacking”, which implies a breach of security whereby the hackers can obtain passwords by entering into the system, has happened or reported in the case of e-filling website.


“However, there have been instances when the authentication details of certain class of e-filers have been obtained by persons from sources other than the website and then the passwords were reset and the e-filing account accessed,” the Ministry said.


To address the issue, a process of multi-functional authentication has been designed and shall be in place shortly. Details thereof, cannot be provided due to security reasons, it said in reply to an RTI query filed by PTI.


The Ministry was asked to give details on hacking of income tax returns filing accounts of individuals and measures being taken by it to check such activities.


As many as 2.96 crore have filed income tax returns online during 2013-14, according to a data available on the website.


The Income Tax department is encouraging online filing of tax returns in order to digitise all tax payers related information.


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