Positive effects of demonetization

The government’s demonetization drive has precipitated financial chaos in the country and experts are still divided on the overall impact of the move on the economy.

While the formal economy is reeling under a cash crunch, with 86% of the currency in circulation no longer legal tender, the pinch is also being felt by those involved in illegal activities funded by cash-transactions, and it’s not just terrorists!

Here are some of the silver linings:

Nobel laureate Kailash Satyarthi has come out in support of the measure and says it will check human trafficking and child slavery in the country. Millions of women and children in India are victims of trafficking.

Another illegal business where cash dominates is prostitution. As a fallout of the withdrawal of 500 and 1000 rupee notes, local media outlets are reporting that women offering sex services are asking clients to pay digitally or take a hike.

There is no doubt that the move has put a dampener on weddings this season. Many weddings rely on cash expenditures, with gifts and dowry changing hands. Social activists have reason for cheer that dowry giving, a social ill that places a huge financial burden on the woman’s family, may have become difficult as a result of demonetisation.

Some families of bridegrooms have withdrawn or reduced their dowry demands. Weddings have also become less lavish.

Cash transactions also fuel drug dealing so it is no surprise that in the Malda region  of West Bengal, which is a hub of the drug trade, demonetisation has delivered a blow. Smugglers cannot pay opium farmers and buyers are short of cash to purchase drugs. Only time will tell if this is a temporary or permanent setback for the drug mafia.

Tax collections by local urban agencies have also registered a huge increase. Data from the Urban Development Ministry shows that the tax collection of 47 local bodies rose by 268% in November 2016 compared to the corresponding period last year.

Mumbai-based brokerage Edelweiss Securities Ltd. forecasts that the government’s move will uncover Rs. 3,00,000 crore in black money. Some more optimistic estimates peg the figure at Rs. 4,60,000 crore.

The gains could help India narrow its budget deficit. It is a chance to plough more money into defence and energy spending or increase spending on social services such as education, health and housing, by as much as three times.

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Start-Up India

Entrepreneurship has been a major practice for centuries in India.Traders traveled across the sea and continents to sell or buy commodities.Even in today’s day and age alot of Indians have gone abroad to start their own business, big or small.

India is  very rich in terms of human resource.While  it has a billion strong workforce there also exist millions of small, medium and big businesses.These business combine to form a large share of GDP of India.

Start-up India is the kind of an initiative which could make India the most happening destination an help India overtake Israel in terms of entrepreneurship.

The MUDRA yojana is a perfect example to provide capital to budding entrepreneurs at a very low interest rate without any collateral.

Other than that, the tax holiday which new entrepreneurs get helps them to reinvest the money back into their business which leads to growth.

Different angel investor networks and entrepreneurial networks have welcomed this move, as it will create the kind of atmosphere where more professionals would like to use their work experience to create new innovative business which either offer a unique product or service.

It will take around 5-10 years to actually show the effect of this initiative since most of the business do not make much money in their first 3-5 years but either way it has created a euphoria especially amongst youngsters who have set their eyes on being the next zuckerberg or larry page

 

 

 

 

SITM

SITM is a well-known entity in the ICT industry which proffers leaders and pioneers for its tremendous contribution towards the domain for over 20 years. It offers students, lot more than just a MBA degree where it is made sure that rational and analytical thinking is imbibed into the minds of every student.

SITM specialises in nurturing future “techno-managers”, a niche set of professionals who have the right ingredients to set the pace in their respective fields.

At SITM, the students are expected to discuss and interact with their respective professors, which is a holistic way for them to achieve an overall development at all levels. The students at SITM, are inspired to participate in extra-curricular activities ranging from research and white paper writing to sports and ISR. Students study subjects about OSS and BSS which gives them a view of complete scenario of the industry which thy will be serving in near future.

 

 

 

The Students are trained in Vale added Programs like 6 Sigma, ITIL, Digital Marketing, ETOM, Revenue Assurance  and IBM Cognos.6 Sigma and Digital Marketing programs are certified by TUV SUD, South Asia.

SITM with its active alumni network promotes communication and building connections between the students and the industry. The institute encourages its students taking part in projects in collaboration with leaders of the ICT domain.

SITM hosts annual HR conclave called Conexion along with and Communique which is an International Telecom Seminar where wizards of industry converge to discuss about various topics from ICT domain. Prevision, an annual forecast magazine is also published by SITM which gives a clear picture of Telecom industry.

SITM emphasises on the practical side of the knowledge and motivates their students to apply themselves into each task assigned to them.

To sum it up in a few words, SITM is a B-school with a difference, a difference made in the lives of each and every student enrolling into its resident course after students turn out to be ready to blend into the corporate world.