Fierce contest likely in Belgaum North

Source: The Hindu
Congress has fielded Feroz Sait Khimjibhai
Ramesh Kudachi is JD(S) candidate
MES, which is facing the problem of rebel candidates, is trying to win back the seat

The electoral battle lines have become clear in Belgaum North constituency with the Congress naming Feroz Sait Khimjibhai as its candidate on Friday.
There is jubilation among the Muslim community members in the constituency as the Congress has conceded their demand. The Congress has considered the candidature of a Muslim leader for the first time from the constituency which was called Belgaum City before delimitation. However, this decision has cost the party dearly, as the two-time MLA Ramesh L. Kudachi quit the Congress and is in the fray as the Janata Dal (Secular) candidate.

Muslims in general and the Minority Cell of the Belgaum District Congress Committee have been demanding the party ticket to a Muslim candidate. They argued that Muslims had been traditionally supporting the Congress but the party had never done “justice” to the community or its leaders.
The contest is likely to be fierce in the constituency as there are a large number of Muslims in the segment and the Maharashtra Ekikaran Samithi (MES) is trying to win back the seat which it had lost in 1999 and 2004. The MES has fielded the former mayor Vijay Pandurang More for the constituency.
Mr. Kudachi, who belongs to Kuruba community, which has a sizeable presence in the constituency, had defeated the MES candidates in the last two elections with the support of Kannada-speaking electorate and a large section of Muslim voters. He is, however, confident that his “vote bank” is intact.
Senior leader of the MES Deepak Dalvi has filed his nomination papers as a rebel to “teach a lesson” to the samithi’s leader Kiran Thakur. Problems in the MES have further compounded with Ramesh Paule, a follower of Mr. Dalvi, filing his nomination papers on Saturday.
Though none of the MES candidates in the previous elections enjoyed any sympathy of Kannada-speaking voters, Mr. More, who belongs to the Scheduled Castes, is popular among all sections of society. People have seen him as a social worker who is available to the common man round the clock.
The Bharatitya Janata Party’s bet with the former Chairman of Belgaum Urban Development Authority Shankargouda Patil, a Lingayat, is not being taken well within the party itself. The only criterion for his candidature is stated to be his close association with the former Chief Minister B.S. Yeddyurappa.
Though the Shiv Sena has fielded the former corporator Prakash Shirolkar, who recently raised the banner of revolt against the MES, his presence in the fray is likely to affect the prospects of the MES. However, the MES is trying to convince rebels to withdraw from the fray to avoid a split in the Marathi votes.

Common man budget

View on The budget by Chetan.Chougule B.COM A.C.A
It looks like P Chidambaram and Co is very much inspired by the “RobinHood” story. This year Government has a record tax collection even surpassing the budgeted estimates. The excess tax collection has totally been diverted to Farm Loan waiver of Rs. 60000 cr.
I don’t think farmers suicide rate will go down with this wavier. The same farmer will apply for fresh loan next year.
Exemption Limit.
Finance minister has taken a bold decision of increasing the tax emption limit and reducing the tax rates. I think this tax rate structure will prevail for the next 3 to 4 years. Individuals will have more money in their hand to spend or invest. But this tax cut may not be a good news for IT employees. The struggling sector due to US recession and Dollar will cut the salaries of the employees to the extent of benefit they get from this tax savings.
Education:
The increased allocation to Education sector is welcome. The strength of India is its
young generation. 50% of Indians are below 30 age. Education is of prime importance for nation building.
Increase in Short Term Capital Gain:
With the increase in Short Term capital gain on shares by 5% Investors may hold their shares for Mid Term to Long Term. But we may see a reduction in daily turnover in stock market which is not a good sign.
Corporate to Gain Nothing:
This years record tax collection is largely contributed by corporate sector. There are no reductions in FBT and corporate taxes in this budget. The reduction in Excise duty will be passed on to consumers.
In all it is a common man budget. Due to the American pressure on Nuclear Deal , if the deal go through we may see a early elections. With this budget it looks like Government is getting ready for early election.
Chetan.Chougule B.COM A.C.A

KEEPING A SECTION OF POPULATION HAPPY AT WHOSE COST

The union budget was presented by Mr.Chidambaram today. The views of various Charetred accountants and Stock market investors of Belgaum is here below:
Mr.Nitin Nimbalkar (Investor)
KEEPING A SECTION OF POPULATION HAPPY AT WHOSE COST
The finance minister rose to the occasion and delivered a budget, which vowed a large section of the society with the intention of nothing, more than a vote.
The minister was more of a politician today rather that a economist.
The same thing happened today sincere and faithful farmers had to sacrifice and the one who were not that sincere got the benefit. I don’t say that all the farmers who don’t pay are not sincere but 75% of the farmers are capable of paying back.
This is giving a very wrong signal to the sincere farmers, friends be rest assured that the government will have to shell out a lot more in years to come because of the mindset of the farmers.
By increasing the exemption limit the minister has helped the Income tax department of the hardship of handling unwanted stationery.
By reducing the Bank transaction tax the minister has reduced the complexity in cash dealings, this will definitely bring in more liquidity in day today Bussiness.

Regarding customs and excise he did good job by neutralizing what he shelled out in the individual tax collections.
Because of depreciating dollar he did not reduce the peak customs duty.
Service tax limit hike will help a lot of people.
All in all I feel that the finance minister has intelligently used the surplus of tax collections of last year to give away the sops to the individuals be it a farmer , a businessman or a salaried employee.
He has clearly ignored the near future in trying to buy out the votes.
Because friends if next year if Mr. Chidambaram rises to present the budget (if UPA Govt returns to power) Be rest assured that it will be a completely different Ride.
So friends enjoy the year 2008-2009 this might be a peace before a storm…. so enjoy……..
Mr.Nitin Nimbalkar is my blog Financial Editor.

Belgaum gets NOTHING

The Rail budget presented by Lalu Prasad as every time has nothing for us Belgaumites. All those demands made by the Belgaum Chambers and others have gone on deaf ears. What we got from the budget is here.