The Burning Topics

Shaheen Bagh  played a very important role in Delhi Assembly elections for all the political parties. Shaheen Bagh is the prime reason for fabulous victory of Aam Aadmi Party which ensured not only defeat of BJP but also making Congress as irrelevant forever. Let us discuss in detail. The biggest lie of Shaheen Bagh Apparently Shaheen Bagh appears to be a place of demonstration against Citizenship Amendment Act (CAA) but reportedly it was part of a larger conspiracy against BJP to ensure victory of Aam Aadmi Party (AAP) and also to make BJP busy in National issues and the challenge of CAA across India especially around National Capital Region (NCR) covering entire Delhi which was the battle ground for these elections. The strategies and formula already tested in WB were used to connect Jamia, JNU and AMU. The planning was done in such a professional manner that it was giving signals of win-win situation to Congress for harvesting Muslim votes who deployed its firebrand ...

CAA, NPR & NRC : The Background The citizen Amendment Act is much awaited law which was expected immediately after Nehru Liaquat agreement in 1950.However, due to political appeasement of the Congress starting from Nehru, the law could not be prepared.    The need of such law was felt on the backdrop of communal violence after partition of India which resulted into genocide of more than one million non-Muslims community  in    east and west Pakistan while they were returning to India. Many independent historians had written that    trains coming from Pakistan to India were flooded with dead bodies of Hindus and other non-Muslim communities. The partition of India was based on the two Nation theory, one for Hindus and other for Muslims. Jinnah took  the Pakistan for Muslims and chosen the area where Muslim population was much in concentration at two places one was known as East Pakistan and the other was known as West Pakist...

In a path breaking reform, both houses of parliament have passed the International Financial Services Centres Authority Bill, 2019. The Bill provides to set up world class unified regulator for international financial services combining powers and functions of RBI, SEBI, IRDAI and PFRDA.  Currently, the banking, capital markets and insurance sectors in IFSC are regulated by multiple regulators such as RBI, SEBI and IRDAI. The dynamic nature of business in the IFSCs necessitates a high degree of inter-regulatory coordination. It also requires regular clarifications and frequent amendments in the existing regulations governing financial activities in IFSCs. The development of financial services and products in IFSCs would require focused and dedicated regulatory interventions. Hence, a need was felt for having a unified financial regulator for IFSCs in India to provide world class regulatory environment to financial market participants. The establishment of a unified financ...

The Government of India is exploring to switch over to a new and progressive methodology to calculate Gross Domestic Product (GDP). The new methodology may be chain base system in place of existing fixed base system. THE FIX BASE SYSTEM This method is in vogue in India. In this method weight assignment to various economic activities and goods remain fix for specific period which can range from 5 to 10 years or a period as decided by the government. This helps comparing the trend of growth over 5 -10 years on the same parameters with the same weight assigned. THE CHAIN BASE SYSTEM In this system the weight assigned index keeps on changing and changes are incorporated annually. Thus the structural changes of the economy are adjusted quickly. Also the activities are updated and captured annually. This method appears more correct as the economic activities are updated and captured every year based on the current prices. In many foreign countries chain base system is being u...

The government recently announced tax rate cut for corporates across the board.   This has been done in the backdrop of slowdown in the economy to support the corporates and to attract new investments which are moving towards other emerging economy like Vietnam. This cut is historical in last 28 years. The measure is in line with the recommendations of the much-awaited Direct Tax Code (DTC) report that was submitted to the Finance Ministry in August 2019. The report has not been made public yet. (The Direct Tax Code aims to consolidate and amend the law relating to all direct taxes, namely, income-tax, dividend distribution tax, fringe benefit tax and wealth-tax to establish an economically efficient, effective and equitable direct tax system which will facilitate voluntary compliance and help increase the tax-GDP ratio. Another objective is to reduce the scope for disputes and minimize litigation. All the direct taxes have been brought under a single Code and compliance proced...