Rapid change in consumer lifestyle and the significant growth in contactless payments over the last decade has resulted in mobile payments gaining momentum owing to its value proposition for customers, merchants as well as banks. According to a report on new m-payments forecast by research firm Ovum, the total global user base for mobile payment will reach 4.77 billion by 2019 from the existing user base of 690 million in 2014.
The disruption caused by DeMo and GST has hopefully been digested as the process of formalisation of the economy has begun in right earnest. The merging of the black and formal economy and its convergence operation is one of the byproducts of the government’s sustained obsession with black stash. A reaffirmation and vindication of recent government action on reforms by Moody’s has been viewed positively by one and all.
In a first, American Brian Houston and Mexican Evelia Reyes wed on Sunday between the doors of the steel border gate between the US and Mexico that is opened for only an hour or so every year. It was the sixth time that the Door of Hope, as the gate is called, has opened since 2013, allowing people from the US And Mexico who cannot legally cross the border to visit without fear of deportation. At other times, families can talk but not touch through the steel fencing. “It’s a statement that love has no borders,” Houston said.
There is considerable debate going on at present among states, political parties and professionals about the methods of avoiding the burning of stubble. It is also attracting attention at the legal level. In order to help farmers move away from this practice which is caused by the need to prepare the rice field for sowing wheat on time, it is necessary to create an economic state. Market driven alternatives should be demonstrated. There is no policy so far for bio-mass utilisation.
Technology has permeated every aspect of our lives today. On the economic front, technology is a great enabler and is instrumental in enhancing efficiency and productivity across sectors. The agriculture industry is one major beneficiary of technological interventions, from genetic engineering to mechanised farm equipment and transportation to scientific storage of agricultural products, technology plays an important role in the sector.
the life of a Catholic nun, who was stabbed to death 22 years ago in Madhya Pradesh and now beautified on November 4 by Pope Francis, is a saga of both holiness and inspiration. Sister Rani Maria Vattalil, who was killed in a knife attack on February 25, 1995, while travelling on a bus near the city of Indore, inspired thousands when her family forgave the murderer Samunder Singh. In fact, the family of Sr Rani from Kerala, visited Singh in prison and they were responsible for his early release as well.
Last year, Narendra Modi came on national television and announced that at the stroke of midnight, 500 and 1,000 rupee notes would no longer be legal tender. These notes constituted 86 per cent of the total currency in circulation. This announcement was by far one of the boldest economic decisions taken in recent years. The rationale for this unexpected decision was to remove counterfeit currency notes from the system, end the parallel black market economy, and digitise the Indian economy.
The GST rates at the inception of GST era was ascertained on the theory of revenue neutral rate (RNR) so that the government’s treasury does not get trimmed on account of introduction of GST. However, keeping in view economic driving factors like inflation, CPI and WPI, and looking at the increase in the revenue gradually towards neutrality, the GST Council from the very starting of its meetings engrossed on proper fitment of rate so that the end consumer is not burdened with indirect tax.
Rome is not built in a day. And business empires are not built overnight. Entrepreneur driven company are usually started in small scale and then it grows. But how small can one business unit be ? How much risk appetite does one have? How much capital does one have? Among others, the answers to these questions decide the size of the business structure. We lawyers, usually get asked these questions when someone decides to start a business. Should it be entrepreneur or limited liability partnership (LLP) or a partnership firm or a company.
The kerfuffle over the twin balance sheet problem afflicting Indian’s financial system is not going away in a hurry. Over leveraged corporates and banks encumbered with those bad assets have acted as a drag on earnings for both segments of the economic vector. Companies have gone under, unable to deal with the burden of constant servicing of those loans through interest payments, while a vast swathe have been sent into intensive care for resuscitation. India’s licence permit raj never actually went away, despite the unfettering of what was for years a strictly command economy.