Sunday, June 24, 2018
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Letters
Initiate proceedings for appointment of new CIC
Dear Editor, Central Information Commission (CIC) is presently working with partial strength of seven out of total eleven Central Information Commissioners (including Chief Central Information Commissioner). However pendency is reducing day-by-day even with partial strength due to reformative measures initiated. But problem will arise when four more Central Information Commissioners including present Chief Central Information Commission will retire in coming November 2018 either on competition of their 5-year tenure or attaining age of 65 years. It will be difficult to carry with just three Commissioners in case appointment-process is not now started. Department of Personnel and Training (DoPT) should start appointment-process of four more Commissioners including Chief Central Informat...
Kashmir Times News Report
New Income Tax Act should be simple and practical abolishing exemptions in general
Dear Editor, Half-century old Income Tax Act, 1961 has lots of patch-works in form of amendments. New Income Tax Act should be drafted carefully on basis of past experience so that amendments may not be usually needed. It should be simple and practical rather than complicated and cumbersome Goods and Service Tax (GST) finding so many problems and changes in just four months of implementation. Special Investigating Team (SIT) set up by Supreme Court on aspect of black money in its third report pointed out towards irregularities detected in name of ‘donations’, ‘charity’ and other such contributions. Already several Non-Government-Organizations (NGOs) have been under scanner for converting black money and hawala-operations. Schools are charging heavy amounts for admission in name of ‘dona...
Kashmir Times News Report
Even seven-day-in-week banking feasible after merger
Dear Editor, It refers to presentation by State Bank of India (SBI) Chairman Rajneesh Kumar in a recent meeting of bankers, wherein he shared SBI-experience on merger of five associate banks of SBI that everything was settled after some initial teething problems. It is time that mega-merger plan of too many (21) public-sector banks in five named anchor-banks namely Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Bank of Baroda may be implemented in a time-bound period of say six months. Mega-merger will bring down overheads in running surplus bank-branches, where nearing bank-branches of merged banks with less business especially in urban area could then be merged with nearing big branches. Reducing number of banks will largely reduce need of clearing-operations...
Kashmir Times News Report
SBI Chief rightly said
Dear Editor, State Bank of India (SBI) Chairman has rightly expressed that no more merger of banks in SBI already having 20-percent of banking-business should be there. Many subsidiaries of SBI and more recently Mahila Bank have already further over-burdened the largest public-sector bank. SBI having completed merger-plan should now merge its nearing-branches to sharply decline number of its branches which is about 22000. Many branches of merged SBI subsidiary-banks are close to main branches of pre-merger SBI, and can be closed for reducing overheads without hurting customers. Rather it is time that some accounts of central and state governments and of public-sector-undertakings (PSUs) presently existing at SBI may be shifted to other major public-sector-banks which in future are to be...
Kashmir Times News Report
Transaction row
Dear Editor, It refers to newspaper-advertisements on 15.06.2018 by Income tax Department wherein it is informed that accepting cash of rupees 200000 or more from a single person in a day or for one or more transactions relating to one event or occasion is illegal. It is beyond understanding why such heavy amount upto rupees 200000 is allowed. This needs to be reduced to one-tenth of existing limit i.e. rupees 20000 like is in case of some property-deal. Such heavy relaxing amount of rupees 200000 leads to involvement of black money in celebrations like marriages, further causing revenue-loss in terms of unpaid GST. Also donation in cash to a registered trust or political party should be only for sole purpose of getting membership. Any other contribution should be only through banking o...
Kashmir Times News Report
Change British legacy
Dear Editor, Expert-committee chaired by known economist LK Jha which was set up by Union Government to suggest new financial-year, had suggested systematic calendar-year of January-December to replace current system of April-March financial-year due to multiple advantageous, and also to be in tune with most other countries of the world. But as usual, recommendations of LK Jha committee set up at high cost were dumped by the then political rulers without being implemented. It is time that both financial and working year for the complete country may be unified as the systematic calendar year to replace present financial-year of April-March which is being in continuation as a British legacy even after seven long decades of the country having achieved independence. —Madhu Agrawal, 1775 ...
Kashmir Times News Report
Logic of continuing 0.75-percent discount on petrol diesel purchased through credit cards
Dear Editor, Union government post-demonetisation of currency on 08.11.2016 to encourage use of cashless transactions had started giving several discounts for promoting use of credit and debit cards which also included 0.75-percent discount on purchase of petrol and diesel through credit or debit cards. Due to inadequate publicity, it is not clear which discounts are still prevailing which also included on on-line payment of insurance premiums. With all such discounts having since lost relevance after normalisation of currency-position, Union government should not burden exchequer with subsidy-loss through such discounts any more. Instead steps should be taken to ensure banking to be made least expensive including in respect of credit and debit cards. Concept of minimum-balance-charge f...
Kashmir Times News Report
Even seven-day-in-week banking feasible after merger
Dear Editor, It refers to presentation by State Bank of India (SBI) Chairman Rajneesh Kumar in a recent meeting of bankers, wherein he shared SBI-experience on merger of five associate banks of SBI that everything was settled after some initial teething problems. It is time that mega-merger plan of too many (21) public-sector banks in five named anchor-banks namely Punjab National Bank, Canara Bank, Union Bank of India, Bank of India and Bank of Baroda may be implemented in a time-bound period of say six months. Mega-merger will bring down overheads in running surplus bank-branches, where nearing bank-branches of merged banks with less business especially in urban area could then be merged with nearing big branches. Reducing number of banks will largely reduce need of clearing-operations...
Kashmir Times News Report
Safeguards necessary for senior citizens
Dear Editor, Latest data released by Reserve Bank of India (RBI) shows a sharp decline in small savings in first eight months of financial year 2017-18 when small savings schemes amounted to just rupees 40,429 crore, a seven-fold dip from Rs 2,75,682 crore in the corresponding period of the previous year. Evidently it is at cost of more investment in mutual-fund schemes where political and other factors can suddenly harm the investors like happened in investment in properties. A sharp decline in interest-rate was anticipated post-demonetisation when Jeevan Akshay pension-plan of LIC of India for the reason witnessed maximum investment in that period. But with currency-circulation crossing what it was before demonetisation, fall in interest-rate is not appreciable with interest-rates of ...
Kashmir Times News Report
One-child theory
Dear Editor, It refers to media-reports about elder son of a leading politician reportedly dissatisfied about his political career. Similar family-disputes have earlier been surfaced in past in other regional political parties of other states also. Those desiring dynastic tradition to be followed in their political parties, should adopt one-child theory to avoid any legacy disputes or dissatisfaction about their political heir. After all politics is family-business for politicians running political parties as their business-shops, and otherwise also disputes in business after division in families is quite common even with top industrial houses. —Madhu Agrawal, 1775 Kucha Lattushah Dariba, Chandni Chowk Delhi....
Kashmir Times News Report
Priyanka Chopra true Indian
Dear Editor, Priyanka Chopra remains in the news with new of her achievements and her different views. Now she was in news for wrong reasons -uncalled for controversy -so called sentiments hurts by a section of people for her role in “The Blood of Romeo,” a recent episode of “Quantico”. Both PC and ABC production apologized for it. There was no way out for them but to apologized rightly or wrongly being a public figure and commercial artistes. Remember that films and TV serials /programmes are result of creativity and artistic thoughts and are work of fiction only. Priyanka Chopra rightly said without any doubt that “I’m a proud Indian and that will never change,” Also, in the recent past it was her the dress worn by her in the meeting with our Prime Minister Narendra Modi, which was ob...
Kashmir Times News Report
MRP include packing material n Carry bags
Dear Editor, The use of plastic material especially one-time use is playing havoc with nature and human beings. It is fatal now. As per reports many birds and animals eat plastic waste and die. The same meat is consumed by human beings which goes into human blood -which results in various diseases even like cancer etc. and even to newly born through mothers. Then why a blanket ban on such plastic manufacture and use is not implemented in the human lives interest. Unfortunately, the ban on production and use of plastic bags has failed. Plastic is an environmental hazard. It also chokes the drainage system and takes a long time to degrade which in turn leads to pollution. Commercial use at the stake of human lives can never be justified. Heavy penalty with life imprisonment is needed for s...
Kashmir Times News Report
Introduce sponsored postal-stamps on lines of sponsored postal-stationery to increase revenue-earning for postal-department
Dear Editor, Department of posts should come up with idea of sponsored postal-stamps on sponsors paying some sponsorship-fees per printed stamp apart from mandating purchasing some stipulated percentage of total print-order to be sold on face-value of stamps. When department can accept commercial advertisements on postal-stationery, there is no reason that revenue may also be raised by introducing concept of sponsored postal-stamps. Design of sponsored stamps can be approved by a department committee to avoid controversial designs of such stamps. It will further raise revenue because sponsoring companies will be shifting to postal-service from private courier-service in order to use their sponsored postal-stamps on mailed articles. Only sponsored meghdoot postcards may be sold by posta...
Kashmir Times News Report
 
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