Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Thursday, 15 October 2020

Too Little ? Too Late ?

 


 

Context :

Wage relief for those who lost jobs in lockdown  /  Oct 6  /  TOI

Extract :

Ø  Employees’ State Insurance Corporation-registered workers who have lost their jobs during the lockdown can claim 50 % of their wages for up to 3 months as UNEMPLOYMENT RELIEF even if they have resumed work

Ø  The benefit can also be availed by ESIC members who may lose jobs in December

===================================================

On 08 April 2020 , I sent following E Mail to our Policy Makers :

 

Economy : The Way Back 


Extract :

 

Ø  While such a GRADUAL SHIFT takes place over a period of next 12 weeks , here is what Government should do to make this SLOW TRANSITION, as painless as possible :

 

       Ø    For 2020 – 21 , only 50 % of the Personal Income to be taxed for

             individual tax payers {  Revenue loss =  Rs  3 lakh*Crore }

 

            

https://www.indiatoday.in/business/budget-2020/story/govt-stares-at-tax-shortfall-of-rs-2-lakh-crore-room-for-personal-income-tax-relief-limited-1640397-2020-01-27


 

      Ø    For Corporate, 25 % of salaries/wages paid during July – Aug – Sept ,

            to be borne by Govt

 

           Only to those Corporate, which implement by end-May, Mobile based

           Attendance System as described at :

           

            From BAD to MAD                   [ 01 June 2016 ]

            MAD goes to Mandi                  [ 02 Jan 2020  ]

 

 

 

    Ø    Amounts of donations made to PM-CARES fund to be treated towards

          CSR obligations with provision for carry forward any excess amount

  

          

 

    Ø    No GST for goods sold during July – Aug – Sept ( assuming production

          will reach normal level by June end){ Revenue loss =  Rs 3 lakh*Crore }

 

 

           

    Ø    Since above-mentioned benefits will drain the government exchequer,


          leaving very little funds for planned Infrastructure, I strongly urge the


          Government to issue  ELEPHANT BONDS , with modifications

        

          as described at :

              Congratulations, Shri Surjit Bhallaji,            [ 31 Oct 2019 ]

 

Only yesterday, EU countries have started debating issue of CORONA BONDS to help out the countries worst affected by this crisis ( viz: Italy – Spain – UK – France )

 

 

QUESTION :

 

As far as India is concerned, the Government is faced with a “ Trade-Off “ between :

   
     #   Saving lives through a gradual / phased out lifting of lockdown,  

     

          AND

   

     #  Getting back to NORMAL economic activities , as fast as possible , with

         minimum   hardship to citizen

 

 

QUO VADIS ?  Which way should we take ?

 

I hope, following diagram will help our Policy Makers to quantify the PROS and CONS of each of their alternatives

 

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Ø  https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh7t2zi2fFzMz9kP1TcZwr2t4FscID44Aq4IyEXVXJVGHyyrghaVzMCl-qFUCy9JqDuVRaAG-2C6-IObCHoH8pOP-HvT9WIP7UCMEFxvKcaMhjsdk2u9VRPYrsXDUSjM1Obj6Wn-805NyzO/s640/Quo+Vadis.jpg

=================================================

With regards,

 

Hemen Parekh  /  hcp@RecruitGuru.com  /  16 Oct 2020

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