DIGITAL PAYMENT PLATFORMS

                                                                                 

Why are we hesitating to make a payment online?

Why aren’t we genuinely willing to carry out an online transaction?

Why we Indians aren’t able to trust this plethora of online platforms so easily?

v India is gradually moving ahead in the direction of the accomplishment of a US $5 Trillion Economy and our government departments are striving very hard in order to make this blueprint into a permanent structure for the World to look upon.

v Achieving this feat wouldn’t be easy at all, as it carries lot many aspects which we as the citizens need to follow and perform upon. One of the most basic, yet technical aspect which we term as ‘online transactions’ play a crucial role in the progress of any economy. So, the question is, why do we still think twice during the process of financial digitisation?

v As we know, nothing in this world is permanent nor perfect. Every technical system or structure contains some or the other loopholes, which sometimes creates a huge disaster for the systems to handle. Yet, before discussing about the drawbacks of Online Transactions, we must take a look upon its benefits.

Convenience: Very since the revolution of online transactions has boomed in our country, we have slowly and gradually adopted this feasible way of performing our activities online. The ease of conducting online transactions is probably the biggest motivation for you to go digital. You no longer need to carry excessive cash and hurt your pockets.

Time-saving: Gone are the days when we used to stand in the long and tiring queue for depositing money in the bank accounts, for booking the railway and bus tickets at respective stations. Performing such activities online has resulted in great time saving for sure.

Lower Risk: In case your mobile phone or your credit card is stolen, you can easily block your mobile number and card by just filing a FIR. Although, the chances of recovery of your cash stolen remains very low. This is eventually very true while travelling as loss of cash and cards can cause heavy amount of inconvenience. Besides, if the future-based technology invents cards with biometric requirements, that would become a very safe option as it would be hell difficult to copy your details.

User-Friendly: The most important characteristic of online payment platforms is its easy and simple to access user-interface experience. The features offered are ready to adopt even by the common man.

v Although with perks of using online platforms, comes its disadvantages which obviously go hand in hand. A few of the threats, to be very clear are as below:

Security and Trust Issues: We Hindustani’s generally have a habit of exploring all the possible loopholes and negative characteristics before trying new stuff. The same happens with digitisation. Since, we Indians are culturally not very adaptive to such systems, sometimes, even well-educated class of the society run the risk of being trapped in frauds.

The fear of anonymous receivers: This point contains all the information which we send online about the transactions, bank account details, documents etc. All this information is stored in the database of the payment system. Now this directly means, that the agency now has access to all your data and you are at the risk of your data being shared or sold to third parties [happens only when the agency is a fraudster].

Poor internet connection: The most common drawback concerned regarding online payment platforms in our country is unavailability of proper internet sometimes. Due to the poor network, we fail to complete the process of performing any online activity. Hence, many a times, this has been resulted in unnecessarily deduction of money from our bank accounts, failure regarding receiving payments from other parties etc…

v How can we improve and drive growth towards digitisation in India? For achieving a cashless economy, improved telecom and communication is must. The deep penetration of Internet has already been established but it needs much improvements. Faster internet speed not only results in smooth functioning of digital platforms but also boosts the economy. THE FUTURE IS DIGITAL, hence we must strive hard. Moreover, availability of skilled manpower and entrepreneurship services are the need of the hour. 

    Proper infrastructure and the capability of handling the technical aspects is must as it requires patience and adaptability. Skilled labour is needed the most as India is a country with varied literacy levels. Hence, the government should first focus on improving the skills and abilities of the unemployed people and then introduce new reforms. Utmost care must be taken by the project managers and service providers that they plan accordingly and do not create a digital division of people leaving behind masses.

THE UNION BUDGET 2019-2020

Nirmala Sitharaman, India’s First Full Time Finance Minister presented the first union budget of the second time elected PM Modi’s Government.     

                                                                             

As she commenced orating the details of the budget, this financial statistics and figures were not termed as a budget, but an accounting ledger to be very clear.

A few key points which would be really easy for a layman (common man) to understand are mentioned below:

·      A target of making India a $5Trillion Economy has been set by the PM and the Government.

·      According to the Finance Minister, India had become a $2.7 Trillion Economy by 2018 and it is expected to cross the $3 Trillion mark.

·      “India’s job creators are the wealth creators of our nation”, said Nirmala Sitharaman.

·      The UDAAN Scheme has been providing air services to the small cities and this has help become India, the third largest domestic aviation market in the world.

·      210 kilometres of metro lines have been operationalised during the year 2019.

·      Indian Railways is in need of an investment amounting to Rs, 50 Lakhs Crore. The Public Private Partnership have been commissioned for the timely completion of tracks and for the smooth delivery of passenger freight services. An estimated 31,000 kms of electrification has been completed.

·      India has emerged as a Major Space Power, hence, a new company named New Space India Limited has been formed for the research and development of various space products.

·      For the Rural and Graamin Bharat with the slogan of Gaav, Gareeb and Kisaan, the government has set a target that by the year 2020, every rural family except those who are unwilling to take connection of electricity and clean cooking facility, under the Pradhan Mantri Gramin Yojna, it aims for housing for all. During the upcoming period of 2019-20 and 2020-21, 1.95 crore houses will be constructed with the amenities of LPG and toilets.

·      As for the 3crore small shopkeepers, they will be provided with pension through their bank accounts and AADHAR cards.

·       An extra sur-charge in the Income tax slab has been increased from 4% to 7% for those with an income ranging between Rs, 2 crore to Rs, 5 crore.

·      Under the Pradhan Mantri Aawaas Yojan, 1.5 crore houses have been constructed in the first phase and a target has been set of constructing another 1.95 crore houses in the second phase.

·      Under the Pradhan Mantri Sadak Yojna, around 1.25 lakh kilometres of roads would be upgraded.

·      Water supply and taps would be provided to every house under the Jal Shakti Ministry formed by the Government.

·      The coins of the denominations 1, 1, 5, 10 and 20 will be made available to the citizens of the country very soon.

·      The Finance Minister during her speech, thanked the taxpayers of this country by mentioning them as “honest and dedicated” taxpayers.

·      Anyone buying a house whose costing is Rs, 45 lakhs will be exempted from taxes.

·      Two rupees excise duty has been increased on the purchase of Petrol and one rupee on diesel.

·      Few items such as Mobile phones, electronic appliances will be made cheaper whereas production of tobacco, imported books, PVC pipes, synthetic rubber, CCTV and IP cameras would become expensive now.

·      A master-stroke to increase the taxpayers in the country, the government has decided to use PAN and AADHAR Card inter-changeably, which means one can now file income tax returns even if he/she doesn’t possess a PAN Card.

·      For the Defence equipment to be manufactured under the flagship programme of Make In India, customs duty on the import of defence equipment has been removed.

·      Under the Make in India programme, computer and laptop units to be manufactured in India. It is also aimed to set up massive solar manufacturing plants to increase the production of Electric Vehicles.

·      The Government has proposed issuing AADHAR Cards to all the Non-Residential Indians with a Passport after their arrival in the country without waiting for a long period of 180 days.

·      35 Crore LED Bulbs were distributed after the launching of the UJALA Yojna, which annually saves the cost amounting to around 18,341 crores.

·      The Government of India to build 17 Iconic destinations for boosting foreign tourism. 

                                 
I                          Income Tax Slabs are as under:

General Citizens	SLAB
Rs, 0 – Rs, 2.5 Lakh	NIL
Rs, 2.5 – Rs, 5 Lakh	5%
Rs, 5 – Rs, 10 Lakh	20%
Rs, 10 Lakh +	30%
Senior Citizens	SLAB
Rs, 0 – Rs, 3 Lakh	NIL
Rs, 3 – Rs, 5 Lakh	5%
Rs, 5 – Rs, 10 Lakh	20%
Rs, 10 Lakh +	30%

A few points which I, Aliasgar Kathawala personally feel that were missed:

·      No introduction of new trains which was badly needed.

·      No realistic policies related to the health sector.

·      No achievable targets for employment sector.

NEW EDUCATIONAL POLICY

Modi Government in its early days of the second innings of rule, has developed a new education policy which is supposed to bring a complete revolution in the Indian Educational System. As per the reports by the Human Resource Ministry, a few notable and crucial points which are expected to come into force by 2021 are:

1.    8 Semesters to be divided between 9^th Grade and 12^th Grade, examinations to be conducted every six months.

2.    Under Graduation duration to be extended by one year, i.e., UG Course of 4 years.

3.    A first year pass candidate to be eligible for a Certificate course, a second year pass candidate eligible for a Diploma course, a third year pass candidate eligible for a Honours and a fourth year pass candidate is eligible for Post Graduation.

4.    A candidate who completes his first year of Post Graduation is eligible for a Ph.d Degree.

5.    A candidate pursuing medical or engineering will be allowed to take arts as an optional subject. Similarly, arts and commerce students will be allowed to opt for computer science as an optional subject.

6.    According to the new policy, students upto 2^nd grade will be compulsorily supposed to study their mother-tongue. After 2^nd grade, students along with their mother-tongue will be made to study an additional Indian language plus any foreign language. The process of implementing such an important change is underway as cited by the sources.

As per the sources, a panel of 10 great scholars chaired by K. Kastoori Rangan were working on the preparation of this new draft policy from the past three years. This new educational policy is expected to bring a radical change in the country.   

MERA BHAI JAWAAB DEGA……

What might seem to be a rather surprising event for us is that our very own Prime Minister Narendra Modi, for the very first time in his tenure as the head of the country, held a press conference at the party headquarters. Although, the most crucial element highlighted regarding this meet with the print and electronic media was about Mr. Modi abstaining from answering a single question asked by the media. Out of all the three questions asked to him, he gestured towards the party’s national president Amit Shah, meaning that Shah will answer all the concerned questions. During his address to the media, Modi claimed that BJP was about to repeat their complete majority win ratio as like of 2014. Talking about Amit Shah, we could see him answering almost all of the questions, also including three of which were asked to Modi. On this move, he said that the prime minister need not necessarily answer all the questions.

Modi also talked about how he wanted to thank all his countrymen who rendered their support to him. He asserted that his government followed an honest and decorated programme about the public welfare over these five years and despite all odds, they firmly stuck with it. “I haven’t missed a single poll rally”, he said.

Having being criticized for not showing up against the media in his five-year tenure, this press conference came up as a big morsel which many couldn’t digest. We have seen Rahul Gandhi challenging the prime minister every now and then on conducting a debate against him about the Rafale and other scams as alleged by the Congress. 

However, during the press conference we could see Modi deflecting all the questions towards Amit Shah, saying, “in our party, the chief is everything”. May 23 awaits the fate of these people which is expected to show us the real allegations and claims as made by them.

PICK UP MY CALL DIDI......

Cyclone Fani may not have caused much damage to West Bengal, but has surely sparked an outrage of words between our Didi and the most honest Chowkidaar on this planet. Jokes apart, on Monday, 5^th of May, while addressing rallies in West Bengal, our Prime Minister complained about Ms. Bannerjee not attending to his phone calls regarding the reports about the cyclone in the state and if any help needed from the Centre. On this, Didi equally responded that she does not consider him as the Prime Minister of this country and that she is not at all intending to share any political platform with him during the polls.

“I tried to speak to her over the call, but Didi is so proud that she did not receive my call. I waited for her to call back but she did not do it either”, said Mr. Modi at the rally. The PM also said that he had called her for the second time even, but she did not respond this time too. Modi alleged, “I feel that politics is so much more important for her that she does not care about the people”.

During a rally at Gopiballavpur, Didi said, “I do not consider him as the Prime Minister. Whenever the new PM arrives, I will speak to him”. She also alleged that he was supposed to address a rally at Jhargram earlier. Instead he lands at Kalaikunda and wants to hold a meeting about the damage caused by the cyclone. “Why should we attend”, she asked.

INDIAN EDUCATION.....

As we all know, Indian education system has become already outdated as of now. The only reason of our kids lacking technical know-how and practical approach towards things is due to the rusty and lengthy procedure of making them learn their daily chapters. Personally, I believe the level of education system of our country needs to be seriously looked upon. 

Our system of learning has been merely reduced to making the children mug up the stuff and appear for the exams. The mentality that is being set up by the parents and the society in the minds of our kids is only about obtaining ranks in the examinations. We never tend to teach our kids about learning concepts and then apply the same in their lives. We always have been making sure that they thoroughly learn their chapters and score always not less than 90% in their exams. Making the kids set up a target in their mind about the scores is not at all a bad thing, but making them vulnerable and kind of forcing them that they are expected/supposed to score this much and that is obviously ridiculous. Talking about the scenarios, our education system is lacking severe technical and practical reforms. The only thing that is considered in India is how many marks has he/she scored? Like seriously, only marks matter?