Bharat Rakshak Forum Announcement

Hello Everyone,

A warm welcome back to the Bharat Rakshak Forum.

Important Notice: Due to a corruption in the BR forum database we regret to announce that data records relating to some of our registered users have been lost. We estimate approx. 500 user details are deleted.

To ease the process of recreating the user IDs we request members that have previously posted on the BR forums to recognise and identify their posts, once the posts are identified please contact the BRF moderator team by emailing BRF Mod Team with your post details.

The mod team will be able to update your username, email etc. so that the user history can be maintained.

Unfortunately for members that have never posted or have had all their posts deleted i.e. users that have 0 posts, we will be unable to recreate your account hence we request that you re-register again.

We apologise for any inconvenience caused and thank you for your understanding.

Regards,
Seetal

Search found 7330 matches

by Suraj
18 Feb 2018 01:15
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

So I was mistaken about the precise legal concerns behind a Letter of Undertaking. Wow, PNB are stupid to have run a system where someone could place liabilties on their books without even their own realization of it. All the more reason that these 20+ PSBs need to be merged, modernized and made mor...
by Suraj
16 Feb 2018 23:20
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

PNB can now cannot escape its liability stating that the LOU was fraudulently generated. Ultimately the LOU undertaking was given by a PNB employee using his authorised passcode on SWIFT . The lending banks will simply say that if PNB employees bypassed its internal messaging system in order to avo...
by Suraj
16 Feb 2018 21:54
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

The whole idea of Blockchain is single ledger... Here obviously they found a loophole because there are 2 different ledgers which are not connected i.e. silos. In an integrated wold, there would be only single ledger not multiple ones or entry would be made into internal system which will post to S...
by Suraj
16 Feb 2018 21:42
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

PNB is ultimately responsible for and will have to pay the amount if the other banks which have lent money on the basis of the LOU issued by PNB do not receive the funds back with interest from Nirav Modi and his group companies. That would be hard to do in court. PNB issued a (fraudulently generat...
by Suraj
16 Feb 2018 20:57
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

PNB itself isn't the entity who lost money. Their systems were used to generate fake LOUs. Others lent money on the basis of those LOUs on the SWIFT system, which PNB itself wasn't aware of because their external and internal systems were not synchronized. It's not clear the loans themselves are NPA...
by Suraj
16 Feb 2018 04:25
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Yes, it sounds absurd that the bank's internal system was not coordinated with their SWIFT transaction system. No amount of technology can fix such a basic failure to keep internal and external systems reconciled. As such, PNB didn't "lose" money. Their broken systems were misused to gener...
by Suraj
16 Feb 2018 02:30
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

It's worth first reading the details of the fraud before throwing random technology at it. This is an issue with how banks manage internal and external bookkeeping. In effect two independent ledgers that weren't in sync. It would be no different with blockchain - they'd just be two different ones. T...
by Suraj
14 Feb 2018 23:58
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Don't we want this money to come to India and invested here in INDIA rather than be utilized somewhere else? Of course, we want this to be done in a fair manner.. and ensure this is not a route for future corruption. I'm not sure how to achieve this. May be somebody cleverer can figure out a way......
by Suraj
12 Feb 2018 22:23
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

It's clear from the data above that momentum is building in the industrial sector. A full half year period shows sustained acceleration in 3-month averaged IIP, with successive months north of 7% now. There has not been a single month of substantially negative IIP (more than -2%) since July 2016. Th...
by Suraj
12 Feb 2018 22:15
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

December IIP rises to 7.1, January retail inflation falls to 5.07% November IIP growth was also revised upwards to 8.8% from 8.4% originally. Probably December numbers will be revised upwards next month. Updating this post with new IIP data from December: Mth CY FY IIP 3-mo IIP 6-mo IIP Notes Dec 2...
by Suraj
12 Feb 2018 12:02
Forum: Strategic Issues & International Relations Forum
Topic: Achievement tracking - Modi Govt. No discussions
Replies: 1053
Views: 123709

Re: Achievement tracking - Modi Govt. No discussions

The mechanism linking high value transactions to checks against IT records is in operation now, and Rs.26400 crore extra tax was collected from those who had high value transactions but not IT returns: Government’s monitoring of non-tax filers yield Rs 26,425 crore in tax till December The governmen...
by Suraj
12 Feb 2018 12:02
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

The mechanism linking high value transactions to checks against IT records is in operation now, and Rs.26400 crore extra tax was collected from those who had high value transactions but not IT returns: Government’s monitoring of non-tax filers yield Rs 26,425 crore in tax till December The governmen...
by Suraj
12 Feb 2018 11:48
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Cant the government just borrow from RBI the excessive forex at low interest and use it on infra project ? Forex is not rupees. Looks like we are a few months away from overtaking HK, Taiwan and Russia on the forex holdings list. It was merely ~2 months ago that we hit $400 billion and already we'r...
by Suraj
12 Feb 2018 07:33
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

chetak wrote:is this true??

twitter

I am a Modi fan. After recent budget my son asked me what yr Modi did to our salaried class. Just i made a rough calculation of his monthly savings comparing 2013 n 2018 budgets. Now he is convinced.

Why ask us that ? The numbers are right there for you to verify :)
by Suraj
11 Feb 2018 03:47
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Direct tax collection grows 19.3% during April-January, exceeding goal Direct tax collection for the April-January period grew by 19.3% to Rs 6.95 lakh crore against the required 18.3% growth for the full year to meet the revised estimate target of Rs 10.05 lakh crore in the current fiscal, the gov...
by Suraj
07 Feb 2018 00:15
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

I've been looking for data on a clearer breakdown of taxpayer brackets. The most recent data is five years old (2011-12 data): Making tax data public will facilitate policymaking and administration Now for updates to these numbers, both approx 2017 data: 24 lakh people have income above Rs 10 lakh b...
by Suraj
06 Feb 2018 23:59
Forum: Technology & Economic Forum
Topic: GST - Discussion on all aspects.
Replies: 628
Views: 65551

Re: GST - Discussion on all aspects.

Your post is fine :) How about looking up the budget documents listing GST and fuel tax revenue line items for reference material ?
by Suraj
06 Feb 2018 23:10
Forum: Technology & Economic Forum
Topic: GST - Discussion on all aspects.
Replies: 628
Views: 65551

Re: GST - Discussion on all aspects.

Jaitley: States not in favor of petrol, diesel inclusion into GST Finance Minister Arun Jaitley today said the states are not in favour of including petrol and diesel into GST at the moment, ruling out any immediate levy of the new indirect tax on these petroleum products. While GST was rolled out ...
by Suraj
06 Feb 2018 20:35
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

vijayk: of course it’s inappropriate ! That’s why I’ve been editing out your posts so often - you’ve been ignoring mod advice all this while !
by Suraj
06 Feb 2018 09:29
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

vijayk: Can you please STOP discussing politics in this thread ? I've lost count of the number of times I have to clean up your posts. How hard is it to understand that this is the economy thread ? Hint: if you're writing about what government should do regarding the actions of another political par...
by Suraj
06 Feb 2018 02:47
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

rsingh: I posted about the topic in the last page, but thanks :) Services PMI logs fastest growth in 3 months in January, expands to 51.7 The Indian services sector remained in expansion mode in January, registering the fastest rise in activity in three months driven by a renewed increase in new bus...
by Suraj
05 Feb 2018 02:10
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Almost exactly a year ago, I posted this summary of tax breakdown data I found (for fiscal year 2013-14 I believe - the newest I could find). Of course, at that time, the same "I didn't get a tax cut! Boo hoo!'" was going on . The data is instructive, mainly for the general breakdown of ta...
by Suraj
04 Feb 2018 07:11
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Mort, you have to do better than that. Just opining B is better than A, won't do. You can't be bothered to list either the reasons or the problems ?
by Suraj
04 Feb 2018 00:51
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

If the governments desire to engender trust in the system by eliminating a motive for people to fudge receipts, does not matter to you, then that is fine. They can not satisfy everyone, and some people are simply too cynical to care about an improvement that takes away a reason to fool the system . ...
by Suraj
03 Feb 2018 23:44
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

So much for "GoI is against middle class salaried people!!" when in reality they carefully made a choice that benefits people properly. It may seem that the salaried class is being supported by such logic, however the fact of the matter is that there was no real benefit to the salaried cl...
by Suraj
03 Feb 2018 01:41
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

An interesting insight into GoI's thinking - rather than simply raise the exemption limit, they preferred to use the standard deduction. Technically the exemption limit *has* risen - it's not Rs.2.9 lakh and not Rs.2.5 lakh. This is because SD is Rs.40K. However you cannot get it without filing tax ...
by Suraj
02 Feb 2018 21:43
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

People randomly prattle on about 'perception', frequently having no idea what their problem is. Don't think so ? Then I challenge someone who says so to clearly list why they don't think actions taken don't constitute positive measures. They'll just weasel out saying 'but the perception is still the...
by Suraj
02 Feb 2018 02:24
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Thanks for the more detailed point on the same lines I was making, Rahulsidhu!
by Suraj
02 Feb 2018 00:52
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Once again, a reference to merely a tax rate means very little as far as an argument goes. I think you've already made your point, and it's generally self evident that a tax cut is better than no cut or an increase. I disagree with you on the larger picture of impact.
by Suraj
02 Feb 2018 00:27
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Never said it was. LTCG affects corporate sector investment. It will have a negative effect on foreign investment. Mutual funds peneyration is still quite low in india at around 2 crore investors. Again, this tax will lead to local investors shying away from mutual funds. LTCG taxes are a standard ...
by Suraj
01 Feb 2018 21:37
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

News coverage: Budget 2018: One for the voter Make no mistake. The NDA government’s fifth budget has elections written all over it. There are several appreciable, noteworthy proposals but they’re all aimed at constituencies that bring in the votes. Farmers, informal sector workers, small businesses,...
by Suraj
01 Feb 2018 21:10
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

LTCG is not a corporate income tax. It's a tax on equity capital appreciation at sale, for sales happening one year or more after acquisition with gains exceeding Rs.1 lakh. There's nothing wrong with an LTCG. It's a sign of greater emphasis on taxation of non-wage income sources. We have two stock ...
by Suraj
01 Feb 2018 02:04
Forum: Technology & Economic Forum
Topic: GST - Discussion on all aspects.
Replies: 628
Views: 65551

Re: GST - Discussion on all aspects.

28.4 lakh e-way bills generated in a fortnight A whopping 28.4 lakh e-way bills have been generated by transporters within a fortnight of the beginning of registration. In the 14-day trial period starting January 16, the day when nationwide e-way bill registrations for taxpayers began, 28.4 lakh e-...
by Suraj
01 Feb 2018 00:00
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

India 6th wealthiest country with total wealth of $8,230 billion: Report India has been ranked sixth in the list of wealthiest countries with total wealth of $8,230 billion, while the United States topped the chart, says a report. According to a report by New World Wealth, the United States is the ...
by Suraj
31 Jan 2018 23:58
Forum: Technology & Economic Forum
Topic: India's Power Sector
Replies: 1258
Views: 153883

Re: India's Power Sector

India reaches 20 GW in installed solar capacity 4 years ahead of target Cumulative solar installations in India have crossed the target of 20 GW four years ahead of schedule. According to Mercom’s India Solar Project Tracker, the utility-scale cumulative installations for India now stands at 18.4 G...
by Suraj
31 Jan 2018 23:50
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

This is news about data for last two fiscal years (NOT current one) being updated. Revisions are: Year 2015-16 (ended March 31 2016): GDP growth revised up from 7.9% to 8.2% Year 2016-17 (ended March 31 2017): GDP growth unchanged at 7.1%, gross value add revised up sharply to 7.9% FY17 GDP growth r...
by Suraj
31 Jan 2018 12:18
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

So the question of interest is - how will this dichotomy ever be managed? Obviously this situation cannot continuue...either the Indian economy starts to reflect the reality of India's languishing competitiveness or we get some leadership in place at some point that recognizes why the country needs...
by Suraj
31 Jan 2018 12:16
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

2017 was the first year when Indian steel production topped triple figures, 101 million tonnes.
Worldsteel 2017 data (PDF)
We finished just behind #2 Japan, who producted 104 million tonnes. The US was #4, some way behind with 82MT.
by Suraj
31 Jan 2018 09:53
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Arjun, please keep the China/US/west stuff to the global economy thread. Thanks. In general, this isn't a thread to whine and complain about what's not happening, that you desire. A whines thread elsewhere is better suited to it. This thread makes most progress when people don't get emotional but in...
by Suraj
30 Jan 2018 02:41
Forum: Technology & Economic Forum
Topic: Indian Economy News & Discussion - Nov 27 2017
Replies: 688
Views: 85443

Re: Indian Economy News & Discussion - Nov 27 2017

Economic Survey 2018: FY18 GDP at 6.75%; GST, bankruptcy code growth drivers The Economic Survey 2017-18, tabled in Parliament on Monday, forecasts gross domestic product growth for 2018-19 at 7-7.5 per cent, compared with a forecast of 6.75 per cent in the current fiscal year. “A series of major r...

Go to advanced search