NEWS PAPER ANALYSIS 3 21 ST AUGUST 2019 THE HINDU AND ECONOMIC TIMES

• NEWS PAPER ANALYSIS 3
  THE HINDU AND ECONOMICS TIME
  21 ST AUGUST,2019
  
  
• THE HINDU
  AADHAR-SOCIAL MEDIA LINK: SC CONCERNED OVER MISUSE OF WEB

1. SUBMISSION MADE BY ATTORNEY GENERAL K.K VENGOPAL APPEARING FOR TAMIL NADU GOVERNMENT ALONG WITH ADVOCATE BALAJI SRINIVASAN  NEED ABOUT THE LINK TO SOCIAL MEDIA PROFILES OF REGISTERED USERS WITH THEIR AADHAR NUMBERS AND IF  REQUIRED HAVE PLATFORM SUCH AS FACEBOOK AND WHATS APP SHARE THE 12 DIGIT UNIQUE IDENTITY  WITH LAW ENFORCEMENT AGENCIES TO HELP DETECT CRIMES.
2. NEEDED TO CHECK FAKE NEWS, DEFAMATORY ARTICLES, PORNOGRAPHIC MATERIALS,ANTI NATIONAL AND TERROR CONTENT IN THE ON LINE MEDIA. ALSO REFERRED TO HOW ONLINE GAME BLUE WHALE HAD NOT LONG AGO TERRORIZED PARENTS AND CLAIMED SEVERAL YOUNG LIVES IN INDIA
3. THE SUPREME COURT ON TUESDAY STRESSED THE NEED TO FIND A BALANCE BETWEEN THE RIGHT TO ONLINE PRIVACY AND THE RIGHT OF STATE TO DETECT PEOPLE WHO USE THE WEB TO SPREAD AND COMMIT CRIMES

• NRC EXCLUSION IS NOT THE END OF THE ROAD MHA

1. AS THE AUGUST 31, DEADLINES FOR THE FINAL PUBLICATION OF ASSAM’S NATIONAL REGISTER OF CITIZENS ( NRC) NEARS,THE MINISTRY HUMAN AFFAIRS ( MHA ) SAID THAT NON INCLUSION OF A PERSON ‘S NAME IN THE NRC DOES NOT IT BY ITSELF AMOUNT HIM/HER TO BE FOREIGNER. AFFECTED PERSON WOULD BE GIVEN ADEQUATE OPPORTUNITY TO PRESENT THE CASE BEFORE THE FOREIGN TRIBUNAL UNDER THE PROVISION OF THE FOREIGNERS ACT 1946 AND THE FOREIGNERS (TRIBUNALS) ORDER 1964. ONLY FOREIGNERS TRIBUNAL ARE EMPOWERED TO DECLARE A PERSON AS A FOREIGNER
2. THE TIME LIMIT TO APPEAL BEFORE THE FTS IS ALSO BEING INCREASED FROM 60 DAYS TO 120 DAYS
3. UNION HOME MINISTER : AMIT SHAH
4. ASSAM CHIEF MINISTER : SARBANDA SONOWAL

• EDIT PAGE THE ECONOMIC TIMES
  DIRECT TAX CODE : BABY STEP FORWARD

1. THE REPORTED RECOMMENDATION OF THE AKHILESH RANJAN TASK FORCE ON THE DIRECT TAX CODE ---TO LOWER THE CORPORATE TAX RATE TO 25% FOR DOMESTIC AND FOREIGN COMPANIES,WIDEN THE PERSONAL INCOME TAX BANDS ,WIDEN THE PERSONAL INCOME TAX BANDS AND REMOVE SURCHARGE
2. THIS YEAR’S BUDGET REDUCING THE RATE FOR COMPANIES WITH TURNOVER OF UP TO 400 CRORES TO 25%. COULD STUNT CORPORATE GROWTH.
3. IDEALLY INDIA SHOULD LOWER THE CORPORATE TAX BELOW 20% IN SYN WITH GLOBAL TRENDS
4. IRRATIONAL INCENTIVES MUST BE DUMPED
5. THE PANEL’S SUGGESTION TO SCRAP THE DIVIDEND DISTRIBUTION TAX ON COMPANIES AND INSTEAD ,TAX DIVIDEND IN THE HANDS OF SHAREHOLDERS AT THE RATE APPLICABLE TO
6. MORE FAIR AND REVENUE EFFICIENT
7. A TAX REGIME THAT ENCOURAGES START UP IS FINE,
8. HOPEFULLY THE DRAFTING OF THE CODE THAT WILL REPLACE THE ARCHAIC INCOME TAX LAW WOULD BE SIMPLE AND CLEAR AND MAXIMIZE  THE CERTAINTY
9. THE REPORT OF THE TASK FORCE SHOULD BE AVAILABLE FOR PUBLIC COMMENT
10. THE PANEL’S SUGGESTION TO HAVE NEGOTIATED SETTLEMENT VIA MEDIATION BETWEEN THE TAX PAYER AND CENTRAL BOARD OF TAXES IS SENSIBLE.

• OUTCOME

1. LISTED COMPANIES WANT TO MAXIMIZE THEIR VALUE ON THE STOCK MARKETS AND DO NOT ACHIEVE ANYTHING BY CONCEALING INCOME
2. THE GOODS AND SERVICE TAX  WITH ITS MULTIPLE AUDIT TRAIL WILL CREATE BROADER BASE FOR DIRECT TAXES,WHEN DATA IS MINED HELP TAP UNDISCLOSED INCOME BY INDIVIDUAL AND BUSINESS
3. INCOME TAX COLLECTION WILL INCREASE AND LEVEL OF PROSPERITY RISES

• NO STOPPING GLOBALIZATION 
  ( T.K ARUN)

1. BREXIT,US PRESIDENT DONALD TRUMP AND RISE OF ILLIBERAL,IMMIGRANT LEADERS OF CENTRAL AND EASTERN EUROPE ARE COMMONLY CITED TO ASSERT THE RETREAT OF GLOBALIZATION
2. SUCH WORRIES ARE EX AGGREGATED
3. TRUE,WORD GROWTH AND TRADE HAVE SLOWED TO CRAWL
4. THE WORLD TRADE ORGANIZATION HAVE BECOME HOLLOWED
5. DISPUTE SETTLEMENT SYSTEM HAS BECOME DYSFUNCTIONAL AND DOHA ROUND STALLED
6. EVEN AS MULTILATERAL TRADE DEALS LANGUISH,REGIONAL TRADE AGREEMENT PROLIFERATE BOTH WITH IN THE REGIONS

• TRUMP,BREXIT MERE BUMPS

1. US PRESIDENT BELIEVE IN BILATERAL TRADE
2. HIS INITIATION OF A TRADE WAR WITH THE WORLD'S LARGEST SECOND ECONOMY CHINA TESTIFIES TO GLOBALIZATION'S TROUBLES
3. GLOBAL FLOWS OF FOREIGN DIRECT INVESTMENT HAVE BEEN DECLINING SINCE 2015’S PEAK OF 2.03 TRILLION
4. BUT THIS IN NOT THE FIRST TIME WHEN FDI HAS EBBED AFTER RISING
5. IN 2007,TOTAL FDI STOOD AT 1.9 TRILLION DOLLARS AND DWINDLED TO 1.7 TRILLION DOLLAR IN 2009
6. THE VALUE OF CROSS BORDER MERGER AND ACQUISITION DECLINED IN 2017 TO 696 $ BILLION FROM 887 BILLION DOLLAR
7. BUT CLIMBED AGAIN TO 816 BILLION DOLLAR
8. THE FACT REMAINS  THAT THE STOCK OF FDI IN THE WORLD IS OVER 32 TRILLION DOLLAR ACCORDING TO UNCTAD
9. GLOBALIZATION HAS BEEN JUST GREAT FOR ENTREPRENEUR
10. CAPITAL IS FOOTLOOSE AND SCOURS THE WORLD FOR GLOBAL DEPLOYMENT
11. MARKETS ARE GLOBAL
12. TALENT IS TO BE DRAWN FROM AROUND THE WORLD
13. A WHOLE LOTS OF TECHNOLOGY CAN BE PURCHASED OR LICENSED
14. RUN OFF A CLOUD USING WORKING CAPITAL
15. PROFITS HAVE BEEN ON RISE BUT ALSO IN RELATION TO THE RETURN TO LABOUR
16. INEQUALITY OF INCOME AND WEALTH IS ON THE RISE IN COUNTRIES THAT HAVE GROWN FAST
17. HIGH SCHOOL GRADUATE IN THE US COULD HOPE TO JOIN THE MIDDLE CLASS WITH SOLID WORKING CLASS JOB PRIOR TO GLOBALIZATION
18. BUT DREAMS OF USA SHATTERED AS THE SUPPLY GOT FROM ASIA
19. ENTREPRENEURS CONTINUED TO THRIVE AND EVEN WAGES STAGNATED AND CERTAIN JOBS DISAPPEARED
20. THE INFORMATION TECHNOLOGY AND COMMUNICATION REVOLUTIONS HAS MADE WHOLE LOT OF BUSINESS TAKE GEOGRAPHY NO SPECIFIC
21. OUTSOURCING OF MIDDLE CLASS JOBS MEANS STAGNATION OF THE INCOMES OF YET ANOTHER LAYER OF THE WORKERS IN ADVANCED COUNTRIES

• BENEFITS TO CHINA AND INDIA

1. BENEFITED IMMENSELY FROM GLOBALIZATION
2. REDUCING POVERTY
3. CREATING LARGE AND MIDDLE CLASS INCOME
4. RISING STANDARD OF LIVING
5. NARROWING THE GAP BETWEEN THE AVERAGE INCOME AND US

22. PROFITS,WELFARE WEIGH IN

1. BUSINESS GAIN FROM GLOBALIZATION PRODUCTION
2. WORKERS IN ADVANCED COUNTRIES LOSE OUT FROM THE PROCESS OF GLOBALIZATION
3. THEY VOTE TO OFFICE POPULISTS WHO SEEK TO REVERSE GLOBALIZATION
4. THEY WOULD PREVAIL IN SHORT PERIOD BUT FAIL IN THE MEDIUM TURN
5. BECAUSE COLLECTIVE GOOD OF HUMANITY LIES IN THE GLOBALIZATION
6. RAPID GROWTH IN INDIA IMPROVES LIVES AT THE BOTTOM OF THE PYRAMID HERE AND CHINESE EXPORTS LOWER THE COST OF LIVING FOR AMERICAN CONSUMERS IN GENERAL
7. CHINESE EXPORTS LOWER THE COST OF LIVING FOR AMERICAN CONSUMERS IN GENERAL
8. TRUMP’S TRADE WAR WITH CHINA IS RELOCATING SOME PRODUCTION AWAY FROM CHINA TO VIETNAM AND MALAYSIA NOT TO US
9. TARIFF ON CHINESE IMPORTS SHIFT THE PATTERN OF GLOBALIZATION
10.  BUT WHAT EMERGE AFTER THE SHIFT IS GLOBALIZATION
11. AS TRILLION OF DOLLARS OF EUROPE AN GOVERNMENT BONDS RETURN NEGATIVE YIELD,THE DEVELOPED WORLD'S SOVEREIGN WEALTH FUNDS,PENSIONS FUNDS,ARE LOOKING FOR MAKING INVESTMENT GLOBALLY FOR BETTER RETURN
12. THE RACE OF EMERGING AFRICAN MARKET AND CHINA’S BELT AND ROAD PROJECT WILL GLOBALIZATION GOING
13. INDUSTRY 4 .0 WITH AUTOMATION AND ARTIFICIAL INTELLIGENCE WILL STILL STAY GLOBALIZED

• REFORMS IN INDIA

1. MUST PREPARE FOR GLOBALIZED GROWTH BY LOWERING PROTECTION AND FORCING COMPANIES TO RAISE PRODUCTIVITY
2. REFORM MUST MAKE THE MARKETS FOR BONDS AND POWER,WORK ,GET SCHOOLS TO FUNCTION AND UNIVERSITIES AND UNIVERSAL HEALTHCARE
3. INDIA’S NATIVE GENIUS FOR LETTING MULTIPLES CULTURES FAITHS,LINGUISTIC AND DIGNITY MUST FLOURISH

• TATA GROUPS SET SIGHTS ON FIVE GROWTH INCOME

1. TATA SONS CHAIRMAN N CHANDRASEKRAN SAID THE HOLDING COMPANY OF THE 110 $ BILLION GROUP HAS RESOLVED THE HIGH LEVERAGE OF ITS FLAGSHIP COMPANIES AND IS TURNING THE FOCUS TOWARDS THE FOCUS GROWTH FUNDING ACROSS BUSINESSES
2. TARGET OF MAKING AT LEAST FIVE OF GROUP’S 10 VERTICALS CONTRIBUTE 10 TO 15 % OF TATA GROUP’S PROFIST
3. MANY COMPANIES HAD CARRIED HUGE DEBT,TELECOM IN PARTICULAR IS SORTED

• WALMART AND TATAS IN PARTNERSHIP TALKS FOR CASH AND CARRY BUSINESS

1. WALMART IS IN TALKS WITH TAT GROUPS TO FORGE A STRATEGIC PARTNERSHIP IN INDIA THAT COULD ENCOMPASS A DEEP ENGAGEMENT IN THE WHOLESALE CASH AND CARRY BUSINESS
2. SEEK TO LEVERAGE REACH TO KIRYANA,UPGRADE THEN AND THEN UTILIZE THE KIRAYANA NETWORK FOR FULLFILLMENT OF FOOD AND GROCERY ORDERS FOR FLIP KART
3. SAME AS WHAT RELIANCE INDUSTRY INTENDS TO DO

• DEMAND FALL MAY FORCE PARLE TO LAY OFF UP TO 10,000

1. THE COUNTRY’S LARGEST BISCUIT MANUFACTURE PARLE PRODUCTS , HAS TO LET 8000-10,000 PEOPLE IF THE ONGOING CONSUMPTION SLOW DOWN PERSISTS
2. 18% GST FORCED TO HIKE PRICES,AFFECTING SALES
3. WITH SALES OF OVER 10,000 CRORE,PARLE WHICH MAKES THE POPULAR PARLE G,MONACO AND MARIE BRANDS OF BISCUITS ,EMPLOYEES ONE LACS PEOPLE AND  OPERATES 10 COMPANY OWNED PLANTS AND IN ADDITION TO 125 THIRD PARTIES MANUFACTURING FACILITIES
4. MORE THAN HALF OF THE PARLE’S SALES COMES FROM RURAL MARKETS
5. ANOTHER BISCUIT AND DAIRY PRODUCTS GIANT BRITANNIA HAD VOICED SIMILAR CONCERN

• PV MARKET TO END UP IN RED IN 2019 EVEN IF SALES PICK UP : HYUNDAI INDIA

1. INDIA ;S PASSENGER VEHICLE MARKET IS LIKELY TO END UP IN THE RED IN 2019 EVEN IF THE SALES PICK UP IN THE REMAINING FOUR MONTHS. SAID BY HYUNDAI MOTOR INDIA MANAGING DIRECTOR  SS KIM
2. IF THE GOVT DOES SOMETHING FOR THE REMAIN FOUR MONTHS ,SOME RECOVERY IS THERE BUT EVEN IF THE INDUSTRY PERFORMS WELL IN TERMS OF OVER ALL VOLUMES
3. HYUNDAI IS THE SECOND COMPANY AFTER TATA MOTORS IN FORECASTING SHARP DROP IN INDIA’S VEHICLE SALE
4. THE SLOW DOWN ONE OF THE DEEPEST SEEN IN THE INDUSTRY IN NEARLY TWO DECADES HAS PROMPTED AUTOMAKERS TO SEEK RELIEF FROM THE GOVERNMENT
5. THE INDUSTRY HAS URGED THE GOVERNMENT TO SLASH THE GST RATE ON VEHICLES TO 18% FROM THE CURRENT 28%