Will this work ? Your Guess ?

Business Standard ( 30 Sept ) carries following news report :

“ I-T cracks down on black money stashed abroad “

Indian assets of tax evaders can be attached & confiscated against undisclosed foreign income or assets

The Income Tax (I-T) department has decided on an aggressive plan under the black money law to nab tax evaders who have undisclosed income or stashed assets abroad. 

In an internal communication, the Central Board of Direct Taxes (CBDT) told I-T officials that the spotlight should be on criminal consequences of the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

In the guidelines, it clarified that the Act allowed attaching and confiscating black money holders’ Indian assets against their undisclosed foreign income or assets under the black money law. It also said these evaders could face separate prosecution under the Prevention of Money Laundering Act (PMLA). 

The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.

I-T officials said there was a lack of clarity in the existing framework, which this week’s guidelines have explained. The internal communication specified that the tax department can attach and confiscate the “proceeds of crime” equivalent in value held within the country to recover dues.

What is your guess :  Will this unearth those “ hidden / undisclosed foreign assets “  ?

MY GUESS :  YES !  BUT IN ABOUT 30 YEARS  !

On the other hand , Government could get those holders of Undisclosed Foreign Assets to come forward and declare $ 1000 BILLION , within 3 MONTHS , if it would just “ COPY “ the Indonesian Method !

Unbelievable ? 

Believe it  !  Read :

·         Indonesiashows the Way

     https://myblogepage.blogspot.com/2016/12/indonesia-shows-way.html

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·         Howto raise $ 500 Billion ?

     https://myblogepage.blogspot.com/2017/09/how-to-raise-500-billion.html

·         Why  a begging  bowl ?

    https://myblogepage.blogspot.com/2017/05/why-begging-bowl.html

·         Nibbling  on crumbs  ?

    https://myblogepage.blogspot.com/2017/08/nibbling-on-crumbs.html

30  Sept  2017

www.hemenparekh.in / blogs

  

Why can’t we institutionalize Coalition ?

Economic Times ( 29 Sept ) carries following news report titled :

Better Growth in Coalition Govts : Reddy

A coalition government that produced consensus on policy-making was probably better than the one with a majority as far as economic growth was concerned, former RBI governor YV Reddy has said. 

Since economic liberalisation, beginning 1991 under the premiership of Narasimha Rao, India’s GDP growth rate was the highest in fiscal 2007, when it touched 9.6%, under the UPA led by Manmohan Singh. Under the new series, GDP grew 10.55% in FY2010.

 
The previous highest growth rate of 10.2% in fiscal 1989 was recorded under Rajiv Gandhi’s tenure, data from the Central Statistics Office revealed.

 
Interestingly, the highest growth in India from 1990 to 2014 was really during coalition governments,’’ Reddy told an audience in Washington.

“ So, in a way it is consensus based...in Indian situation, a coalition probably produces better economic results than a strong government,”  he said.

 
To buttress his argument about the benefits of a coalition government, Reddy said the administration handled the 1991 currency crisis well, of which he was part as a bureaucrat.

“ The remarkable thing was that despite an unstable political situation, they managed a political consensus for whatever was needed to manage it successfully,’’ said Reddy.

My friend , Gurudatta is much more analytical in examining the virtues of a COALITION GOVERNMENT

After reading my following blog :

RevolutionThrough Coalition Government ?

 

https://myblogepage.blogspot.com/2017/09/revolution-through-coalition-government.html

here is what he wrote :

Advantages of Constitutional Coalition Government 

·          Being a part of the govt. all parties will be accountable for non-performance.

·           By the same logic, for any achievements during such a Govt’s tenure, the credit will be shared by them all, irrespective of their size, thus promoting positivity and unity of purpose.

·          Even accountability for non-implementation of the pre-poll promises will be collective.

·           Unlike in the past, the tendency of raking up old issues/past failures by way of investigation/court cases etc. of any of the constituents will be curbed, saving immense national resources. Besides, more time will be available for constructive discussions, decisions and prompt implementation of the projects.

·           A lot of legislature time & other resources wasted on endless debates, allegations and counter-allegations will be saved for constructive work, enabling faster implementation & outcome of the plans.

·           The Speakers of the respective legislative houses will be able to carry on their responsibility with equanimity and fairness.

·           Moves, suggestions or new ideas brought up by any of the constituents, irrespective of their individual strength but solely on the merit and test of national interest, would be taken up.

·           The party with highest number of elected members will naturally seek to retain important ministries, irrespective of the comparative capability of their own elected members vis-à-vis other parties’ members with equal or better merit. This can somewhat be defused by the giving Dy Ministership to other party candidates but depending on the merits.

·          Such sweeping change in the governance, can we also expect to have better candidates appointed to head the GOI entities, governors, vice-presidents, presidents and judges of the courts? Most probably.

I believe , this is an  “ IDEA  WHOSE  TIME  HAS  COME “  !

Those in favour , please “ RAISE  YOUR  HAND “  - and your VOICE  !

29  Sept  2017

www.hemenparekh.in / blogs

Revolution Through Coalition Government ?

German Federal elections ended Sunday evening at 6 pm ( German time )

Approx 30 seconds later , the large TV screen in the headquarters of Angela Merkel’s Christian Democratic Party showed a graph ( bar charts ) which gave following “ Exit Poll “ for the votes polled :

CDU / CCU………………………..……………….. 34.7 %    (  246  seats  )

Social Democratic Party…………………….. 21.6 %    (  153  seats  )

AFD………………………………………………………13,3  %    (  94  seats   )

FDP 

……………………………………….  11.3%     (  80  seats  )

Greens…………………………………………………..  9.4 %    (  67  seats  )

Die Link………………………………………………….  9.7  %   (  69  seats  )

Others……………………………………………………   5.1  % 

As in past , it is expected that Angela Merkel will form a Coalition Government with support of either SDP or ( should it decide to sit in the opposition ) with support of several smaller parties , distributing among the partners , Ministerial Births , in proportion to their relative strengths

COALITION is the WAY , in which she has managed , not only to stay in power for the last 12 years ( and the next 4 ) but also introduced REFORMS which made GERMAN  ECONOMY  the flag-bearer of prosperity for the rest of the Europe

But, for her, this “ CONVENTIONAL  COALITION “, requires tough / tenuous bargaining  !

If German Constitution were to mandate a  “ CONSTITUTIONAL  COALITION “ where ALL  parties  AUTOMATICALLY  get Ministerial Births in proportion to the number of seats won , then she would have no headache !

That ( CONSTITUTIONAL  COALITION ) is what we in India need !

Of course , that would require amending our Constitution , which would never happen in  normal circumstances

But , it could easily happen if the circumstances were  ABNORMAL  !

For example :

In current Lok Sabha , BJP has 282 seats ( 52 % of the total ) – a simple majority

Now , as planned by Amitbhai Shah , if in 2019 elections , BJP wins 355 seats ( 67 % - an absolute majority ) , that would indeed , be an ABNORMAL circumstance !

If , at that time , BJP was to propose a Government of Proportional Representation , no other party would object ( - having been either rendered irrelevant or been decimated ! )

Each of those “ losing parties “ would stand to get SOME minister-ships , and get a chance to influence the DECISION – MAKING , from within the government , instead of just shouting slogans in the Lok Sabha !

A proposal of this nature , coming from the VICTORIOUS  BJP ( which would have little NEED for support from any party ) would be nothing less than REVOLUTIONARY  !

It would , be a concrete demonstration on part of BJP , of its core belief of :

Sabka  Saath ,  Sabka  Vikas (  Progress through Partnership )

No political party will even dare to oppose such a “ MAGNANIMOUS  GESTURE  “ of BJP !

And this gesture will ensure that , in 2024 general elections , BJP returns with an overwhelming majority !

I am sure , such a “ psychological opportunity  of a life time “ , would not escape the cold calculations of Shri Modi  !

   

For details of the proposal – and how it will change the face of GOVERNANCE , read my following blogs ( earlier sent as E Mails to Ministers / MPs / MLA s ) :

AConstitutional Coalition Government ?  [  02  Oct  2016  ]

https://myblogepage.blogspot.com/2016/10/a-constitutional-coalition-government.html

 Constitutional Coalition Aftershocks !  [  02  Oct  2016  ]

https://myblogepage.blogspot.com/2016/10/constitutional-coalition-aftershocks.html

 

Presidential or Coalition Government ?  [  25  March  2017  ]

https://myblogepage.blogspot.com/2017/03/presidential-or-coalition-government.html

 

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27  Sept  2017

www.hemenparekh.in / blogs

Data Privacy : We are getting overtaken !

DNA ( 26 Sept ) carries a report titled :

“ Cellphone security law in works “

The ministry of electronics and information technology plans to formulate a legal framework to ensure compliance with security standards which will be mandated for mobile phones.

"All these measures are being undertaken to create a framework wherein all will be mandated to follow certain procedures for security of users' data," the official said.

Makers of Internet of Things (IoT) devices and set-top boxes will also be asked to submit security procedures just like mobile phone firms.

Also, WiFi routers and IP cameras which are using default settings become vulnerable to cyber threats, while in case of set-top boxes, the prevalence of Chinese Conditional Access System is leading to potential vulnerability, the official added.

Pavan Duggal, a cyber expert and Supreme Court lawyer, said technology is changing rapidly.

"Technology has changed so much in the last ten years. The IT Act needs to reflect existing realities of today's world. Even cyber security needs to addressed well. We still do not have a framework for it," he said.

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

No doubt , legal experts working on framing of proposed law , have heard of Internet enabled devices such as :

#   Cortana     (  Microsoft  )

#   Bixie         ( Samsung   )

#   Assistant   (  Google   )

#   Siri           (  Apple  )

#   Alexa        (  Amazon  )

There must be others

What I have heard is :

·         These devices will connect you to internet and find some simple information

·         They take “ orders “ through spoken words and execute your “ commands “

It was also reported recently ( although denied vehemently by the manufacturers ) that these devices “ listen in “ to your normal conversations ( with your family / friends ? ) and upload the dialogue to some secret server !

Then there are “ devices “ like Google Glass / FrontRow ( from Ubiquity ) and hundreds of similar “ devices “ , which take your photo / video ( without your knowledge / permission ) and upload the same on Social Media Sites !

https://myblogepage.blogspot.com/2017/09/wherefore-art-thou-o-romeo.html

The DNA report lists only : Mobile Phones / Set Top Boxes / Wi Fi Routers / IP Cameras

Obviously , they have not read the following report :

According to Gartner, Inc. (a technology research and advisory corporation), there will be nearly 20.8 billion devices on the Internet of things by 2020. ABI Research estimates that more than 30 billion devices will be wirelessly connected to the Internet of things by 2020.

Navin Shenoy , corporate VP and general manager for the client computing group (CCG) at Intel , says :

“ The average household has ten connected devices. This will explode to 50 by 2020 “

But , if they were to read , they will discover that many of these “ devices “ will continuously monitor everything you do ( - and , may be even “ think “ ! ) and relay that information / data to cloud-based servers !

Already , there are available in the market , Internet Connected “ home appliances “ such as refrigerators / microwave ovens / dish washers / washing machines / weather stations / radios etc

The government will need to ask, thousands  of  manufacturers ( spread all over the World ) , “ to submit security procedures just like  mobile phone  firms “

Then decide which of them do not meet the CRITERIA laid down by the proposed law !

Then what  ?

I hope the committee responsible for drafting the law comprise a few geeks working for IoT devices firms !

Could it be that the proposed Law becomes obsolete even before the President sign it ?

27  Sept  2017

www.hemenparekh.in / blogs