2 thoughts on “WHAT IS MODEL CODE OF CONDUCT TO BE FOLLOWED BY THE POLITICIANS DURING ELECTION PROCESS IN INDIA

  1. Manifesto Misconduct ?

    In its manifesto released yesterday , Congress has promised to create 10 Crore ( = 100 million ) new jobs in next 5 years , if voted to power

    Now , EC’s Model Code of Conduct tells political parties ,

    ” If you make any promise in your manifesto , you must also spell out , how
    you are going to fund it ; how – and from where – you are planning to
    raise the money to fulfill your promise ”

    No such explanation / clarification in Congress Manifesto !

    Only EC can say whether this is a blatant violation of Code of Conduct

    Provided , BJP / AAP lodge a complaint with the EC

    But BJP / AAP can do better than just lodge a complaint

    In their own respective manifestos , they too , can promise to generate 100 million new jobs in 5 years , if voted to power

    But strictly , in

    > Organized Private Sector

    > Un-organized Private Sector

    > Self – Employed Sector

    Now each job will require an additional Capital ( fixed + working ) of Rs 1 million , on an average

    That means , these Sectors ( not the Government ) will need to raise ,

    > Rs 1 million * 100 million ( Rs 10 Lakh * Crores )

    If voted to power , we ( BJP / AAP ) will enable these Sectors to raise this amount of funds thru introduction of following schemes :

    > BLACK MONEY AMNESTY SCHEME

    These Sectors will be allowed to invest their Black Money ( whether stashed locally or abroad ) in specific , Government – Approved , ” Infrastructure Bonds ” . No questions will be asked as to the source of the funds and the interest earned will be tax-free for a period of 10 years

    > JOB GENERATION SCHEME

    Since the emphasis is on Job Generation , companies will be ” incentivized ” to hire more permanent persons
    The incentive will be in the form of reducing Corporate Income Tax ( % ) as a company’s employment goes up by setting in motion , ” INVERSION of JOB REDUCTION ” regime , under which ,

    ” The more jobs a company creates , the less Corporate Tax it pays ”

    Example :

    > Up to employment of 100 persons …………………………. 30 % tax
    > 101 – 500 persons……………………………………………. 25 %
    > 501 – 1000 persons …………………………………………… 20 %
    > 1001 – 5000 persons ………………………………………….. 15 %
    > 5001 – 10,000 persons …………………………………………. 10 %
    > Above 10,000 persons …………………………………………. 5 %

    Let us celebrate those who provide employment to large number of persons

    > DOWN-SIZE GOVERNMENT SCHEME

    * Government is already over-staffed . It is hiring 4 persons to do the work of one !
    Hence , no new jobs will be created in Government or in PSUs for next 5 years
    There will be a ” Recruitment Freeze ” in government – except for the defense services
    Government / PSU employment will be allowed to shrink thru resignations / retirements / deaths etc , by adopting the rule of ” No Replacements ”

    > SELF EMPLOYEMENT SCHEME

    Every unemployed person registering under this scheme will get an interest – free loan of Rs 50,000 / – from any scheduled bank where he / she opens a bank account , repayable in 10 years. Central Government will insure these loan-re-payments
    A suitable mechanism will be put in place to prevent misuses such as ,

    * Duplicate loans from different banks

    * Already employed persons applying for loans

    * A loan-taker taking up a job after availing a loan

    > HONESTY REWARD SCHEME

    ” Inverse ” the ” Personal Income Tax ” slabs as follows :

    > Up to Rs 5 lakhs………………… NIL tax
    > 5.1 – 10 lakhs………………….. 8 %
    > 10.1 – 20 lakhs…………………. 6 %
    > 20.1 – 50 lakhs………………… 5 %
    > 50.1 – 100 lakhs………………… 3 %
    > Above 100 lakhs…………………. 1 %

    This will encourage tax-payers to honestly declare their entire income and eliminate tax-evasion / black money generation at the very source itself !

    Under such a scheme , Rs 5 * Lakh * Crores worth of estimated Black Money will return to the official ” White Money ” banking stream , during FY 2014-15 itself !

    Can you imagine everyone wanting a ” Cheque Payment ” only !

    And this White Money will get deployed in the CAPITAL MARKET , officially !

    With this , we expect the SENSEX to cross 50,000 by 2019 !

    Listed ” Private Sector ” companies will be able to attract funds at very low interest rates and deploy these for creating productive assets / employment

    These funds will also encourage Private Sector companies to take up long duration Infrastructure Projects – without asking the Governments to guarantee ” Viability Gap Funding ”

    > CAPITAL ASSETS CREATION SCHEME

    Under this scheme , companies will be granted an ” Accelerated Depreciation ” on incremental Capital Assets created during the year

    This will encourage companies to plough back their profits into creating manufacturing capacities , thereby improving the contribution of manufacturing to our GDP

    Simultaneously , this scheme will give a huge boost to India’s Capital Goods Industry – the mother of all industries !

    I hope the Manifesto – Writers of BJP / AAP etc examine these schemes and ask of themselves ,

    ” Will these meet EC’s Code of Conduct ? ”

    And , will these Manifesto Authors dare to promise ,

    ” If voted to power , we will enact a law that makes each Manifesto , a legally binding Contract between the people of India and the party making the promises – breach of which , will be punishable by a jail term , of not less than 10 years ”

    * hemen parekh ( 27 March 2014 / Mumbai )

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