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

Friday, 2 February 2018

Unique ID for Every Enterprise ?




In his Budget speech , Shri Jaitleyji said :


The Government will evolve a scheme to assign every individual enterprise in India, a unique ID



It seems , Shri Jaitleyji found time to read my following blog / email :





Thursday, 12 May 2016


An " Aadhar " for Corporate ?



How many types of  NUMBERS, do Indian Companies need to register and acquire , to do business ?


Writing in MINT ( 02 May 2016 ), Narayan Ramchandran quotes Manish Sabharwal , who has researched and listed the following :


#   Corporate Identity Number...........................................   ( 21 digits )

#   Tax-payer Identification Number for commercial taxes......  ( 11 digits )

#   Service Tax Number...... ( Alpha-Numeric ) ....................  (  15 digits )

#   Permanent Account Number - PAN  ( Alpha-Numeric )........ (  10 digits )

#   Central Excise Number..................................... ( PAN + 2 Characters )

#   Provident Fund Number .................( Alpha-Numeric )...... (  11 digits  )

#   Profession Tax Registration Certificate ( Numeric )...............  ( 9 digits )

#   Profession tax Enrollment Certificate    ( Numeric ).............    ( 9 digits )

#   Income tax Deduction/Calculation Number ( Alpha-Numeric ) ( 10 digits )

#   ESIC Number ( Numeric )................................................  ( 17 digits )

#   Labour Department Registration(State specific alphanumeric) (13 digits )

#   Importer-Exporter Code  ( Numeric )................................. ( 10 digits )

#   Shops/Establishment Reg Number ( alphanumeric )............  ( 20 digits )

#   Contract Labour Registration ( alphanumeric ).................. ( 15+ digits )

#   Labour Welfare Board ( Numeric ).....................................   ( 5 digits )

#   Higher Court Case Number ( Alphanumeric ).....................   ( 12 digits )



Now , CBDT and MCA are in the process of integrating their back-end operations , to provide ONE SIMPLE IDENTITY to companies, doing away with the above multiple numbers


Without doubt , this long overdue simplification will make it easy to do business in India


But , it seems , that each State will have unique number ( for each Company registered in its territory ), as far as GST is concerned


I hope , someday soon , an India Start-Up comes up with a digital solution ( pasting, a unique RFID sensor on the forehead of each child , at birth ? ) to get rid of all the CARDS , a person needs to acquire in a life-time , as mentioned in my following blog :

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Wednesday, 30 January 2013


Raining Cards ?


Some 70 years ago , I had only one card – the Ration Card


I was using it to buy , either wheat or bread or war-disposal biscuits from a Shivaji Park ration shop in Mumbai


Now I have,


*   Driving License Card

*   Senior Citizen Card

*   Voting Card

*   Credit Card

*   PAN Card

*   Aadhar Card ( UID )

Apart from sundry cards issued by private / commercial companies and NGOs


As if this was not enough , Central Government of India wants me to carry one more card !


National Population Register ( NPR ) is all set to issue,

 
Resident Identity Card ( RIC )


It will contain demographic and biometric details of the owner and will be issued to 820 million adult Indians at a cost of Rs 5,552 Crores


I believe only those holding RIC will be entitled to receive subsidized food-grains under the Food Security Act


How about a card to replace all the above-mentioned cards ?

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03  Feb  2018

Gold can finance Infrastructure




In his Budget speech , Shri Arun Jaitleyji said :


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



The government will formulate a comprehensive Gold Policy to develop gold as an asset class



Government will also establish a system of consumer friendly and trade efficient regulated gold exchanges in the country



The Gold Monetization Scheme will be revamped to enable people to open a hassle-free Gold Deposit Account.


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


After his announcement of Gold Monetization Scheme in his 2016 budget , I had sent following e-mail to Shri Jaitleyji . I hope the proposed “ revamp “ will incorporate my suggestions





Monday, 28 March 2016


WAY TO A WIFE's HEART ?


Hindustan Times ( 29 March 2016 ) reports :


: There was a recent meeting between Economic Affairs Secretary, Shaktikant Das and representatives from the Reserve Bank of India, temple trusts and other bodies to discuss ways to make the Gold Monetization Scheme , more attractive  :



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



#  What are the Advantages  of this Scheme to the Economy ?


*  Reduce demand for gold in physical form to reduce our Import Bill

   Imports of some 1000 tons of gold accounts for nearly 25 % of our Import Bill


*  Bringing out approx 20,000 tons of idle ( locked up ) gold lying with households , into
   the banking system ( approx Rs 57,00,00 Crores worth )

*  Banks will be allowed to sell , gold deposited with them , to jewellers , thereby
    reducing imports


================================
  


#  Advantages to gold depositors :


*  Benefit from price increase at the time of maturity

*  Earn interest on the value of deposited gold


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



#  Negative Point :

*  Gold depositors have to make full disclosures on the source of gold !

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


#  Public Reaction :

*  In the past ONE year, only 3 tons of gold ( jewellery ) got deposited


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


#  Why ?  :


*  One official reportedly said at the meeting :

" I am not even able to convince my wife to part with her jewellery, which she hardly uses

The main stumbling block was the emotional value attached to the jewellery , which had often been passed on by generations "


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


#  Is there a way out ?


YES - as follows :


*  Calculate current value of gold being deposited ( say , Rs 50 lakhs )


*  After 10 years , return to depositor , Rs 50 lakh + simple interest at 10 %

   ( to take care of price increase but no guess work ! )


*  Also credit Rs 50 lakhs to depositor's Income Tax account as " Advance Tax " paid


*  From depositor's Annual Tax Return , keep offsetting  this amount over 10 years,
    thereby reducing his tax liability ( Rs 5 lakh per year , in this case )


    Now, if the depositor is in 20 % tax rate slab, this would mean saving of Rs 1 lakh/year  !


*  Most Important : No need to disclose " Source of       Gold " being deposited . No questions  !
    



Now , with this modification , the concerned official can convince his wife by telling her :


"  Go ahead and buy every year , new - and latest trend - jewellry equivalent to the tax amount that the Scheme has saved for me


And , buy dresses and purses to match that jewellery when we go on holidays abroad "


With this , I believe , at least 1,000 tons of gold can be garnered in next 12 months



03  Feb  2018




Why only a passing reference ?




In his Budget speech , Shri Jaitleyji said :



“ Air pollution in the Delhi-NCR region has been a cause of concern. A special Scheme will be implemented to support the efforts of the governments of Haryana, Punjab, Uttar Pradesh and the NCT of Delhi to address air pollution and to subsidize machinery required for insitu management of crop residue. “



This is great news for Delhi-ites , which will enable them to breathe clean air during next Diwali



Remember , some 40 % of school-going children in Delhi suffer from respiratory diseases !



I hope the proposed scheme comprise elements of my following suggestion , sent to Shri Jaitleyji as email , on 10 Nov 2017 :




Friday, 10 November 2017



#Smog in Brain ? 



{ Source for the following info : Hindustan Times / 10  Nov }


“ For farmers in Punjab, it’s a 20 million tonne-a-year issue “


Extract :


·         About 3 million acres are cultivated for paddy in Punjab and 20 million tonnes of stubble are generated every year


·         Harvesters skim from the top and leave 80 % of the paddy plant – 6” to 8” long – on the field


·         Since farmers need to sow wheat within a fortnight of harvesting paddy, they burn the straw , or paraali , to save time, labour and money


·         As per Manjeet Singh Makkar ( Head , Farm Machinery and Power Engineering Department , Punjab Agricultural University ) , following are three solutions :


     #  Straw Chopper – cum- Spreader

         This machine chops the stubble and mixes it in the soil either with the help of
         water or a rotavator



    #   Straw Management System and a “ Happy Seeder “

        It cuts the straw into small pieces and scatters it evenly . Next , a Happy Seeder
       mounted on a tractor can be used to sow Wheat and put the cut straw over the area
       as mulch, which improves soil fertility . The two machines cost Rs 1.25 lakhs



   #   A Baler , which bales the straw .

       These can be used in power plants or card-board factories



       “ Given a choice between a box of match-sticks and machinery worth Rs 2 lakhs , what will you choose ? “ , asked Billa Singh , a farmer in Phagwara




Now consider this :


·         Between harvesting paddy and sowing wheat, there is a 15 day window


·         One pair of machines ( described above ) can work 6 / 7 acres/day


·         That is 100 acres in 15 days ( with one pair )


·         Paddy Stalk needs to be removed from 30 lakh acres, in 15 days


·         That means , Punjab needs 30,000 pairs of machines ( for 15 days )


·         One pair costs Rs 2 lakhs


·         So , 30,000 pairs will cost Rs 60,000 lakhs ( Rs 600 crores )


·         In Maharashtra , nearly 80 lakh farmers will get farm-loan waiver amounting to Rs 34,000 crores


·         In UP , 12 lakh farmers got farm-loan waiver of Rs 36,000 crore


·         Who can believe that Shri Amrinder Singhji ( CM – Punjab ) cannot find Rs 600 crore to create a FARM HELP SPV , which will own those 30,000 machines and let farmers rent out @ Rs 10 / day ?

   
And , through this method ( # 1 above ) , can we assure the farmers that their,


·       *   Soil will become more FERTILE

·       *   YIELD will go up by 100 %

·       *   Income will rise dramatically ,

     [ To know how farmers will earn Rs 3,300 Crores in just 15 days , read :





as the farmers of Maharashtra are discovering , using SRT farming method developed by Chandrashekar Bhadsavle ?



I urge Shri Amrinder Singhji to read the following :


“ A Maharashtra Farmer’s AgriTech Holds Promise for Delhi’s Pollution Woes 





And can someone figure out how to combine this [ SRT ] with the following technology from China to provide a powerful incentive to the Punjab farmers to stop burning paddy stalk ?


Garbage is GreenGold { 3G }  [  10  Sept  2016  ]


03  Feb  2018