Prof. T.B. Subba, Vice Chancellor, Sikkim University, Brig. S.N.Mishra, Vice Chancellor, Sikkim Manipal University, Dr. Amir Ullah Khan, Dy. Dir. Bill and Melinda Gates Foundation, Mr Osama Manzar, founder Director Digital Empowerment Foundation and Member of Working Group on Internet, Governance, Deptt. of Electronics and IT, Ministry of Communication and IT, India, Mr Sushant Dwivedy, Group Director SMB, Microsoft, Mr Subhasis Sur, Director SAAS, Communication Pvt. Ltd

Sikkim outdoes nation in per capita GDP growth

Source:Sikkim Now
GANGTOK, 18 Nov: Sikkim is doing much better as a state than the nation as a whole in terms of growth. This may come as a surprise to many given the size and lack of any visible or vibrant economic activity, but fact remains that the state has a per capita Gross Domestic Product much higher than the national GDP. Not only that, but the Gross State Domestic Product growth rate has been relatively constant at between 7% to 8% on a very modest estimated average over the past decade when that of India as a country has been languishing at 6% on average and for the first quarter of this year was even below 6% at 5.3%.
The most spectacular story is of 2009-10 when the state growth rate went off the charts recording 73.61% growth as per figures with the state. This came down to 8.14% in 2010-11 and presently for 2011-12 the provisional growth estimate, as officials inform is at 8.16% which, too, is much above the national average.
The union government has been constantly lambasted and scandalized on the economic front particularly in view of the grim economic landscape that the present growth rate portends for the country and what it does with the exchange rate with the dollar which has gone up over 10 units over the past year. On the other hand Sikkim has been showing a spectacular growth story with the state economy recording a record and unbelievable high of 71.59 % per capita growth rate for the year 2009-2010, as per figures with the state government!
The per capita GDP in actual figures for that year was Rs. 73,106 lakh. For the financial year previous to that, 2008-09, the per capita gross domestic state product (GSDP) growth rate was recorded at 14.81% or Rs. 42,605 lakh in rupee terms. This, too, is double the national growth story. In 2007-08 the growth rate was recorded at 6.53%.
However, for the past year, 2010-2011 the per capita GSDP came down drastically from the previous two year’s GSDP to register a still positive performance at 6.90%; in rupee terms the GDP stood at Rs. 78,151 lakh. At a growth rate of almost 7%, the state is certainly doing much better than the rest of the country. And to think that Sikkim at one time had an almost negative growth rate when in 1994-95 the GSDP growth rate recorded was less than 1% at 0.8%!
The provisional estimate for the current fiscal in terms of per capita growth rate of the state GDP is 8.16% or Rs.514761 lakh, just a touch higher than the previous year’s. In terms of per capita GDP the figure is 6.93% compared to 6.90% of the previous year and in rupee terms it is recorded as Rs. 83,565 lakh compared to the previous year’s Rs. 78,151 lakh.
There is an explanation for the spectacular jump of growth of GSDP in the years 2008-09 and 2010-11, the figures which have been calculated on a provisional basis. Officials explain that this was the year when the Pay revision was being sorted out. In 2008-09 there was the payment of arrears to the government employees while the following years the pay revision was announced.
This led to tremendous purchasing power with the public and it also goes on to indicate how much the economy depends on government employees who compose the largest single category of work force in the state.  Even the central government employees got a pay revision; the pay revision which led to enhanced purchasing power also led to increased expenditure.
The per capita GSDP is calculated by either adding up everyone’s income during the period or by adding the value of all final goods and services produced during the period or the total expenditure during the given period. It is therefore an indicator of the standard of living as well.
The primary contribution to the GSDP in Sikkim is the Tertiary sector which includes storage, trades, hotels, banking, transport, private businesses and enterprises. While this is the largest contributor to the economy, the exact estimates of its contribution is not quantified as not all private businesses and enterprises have been accounted for.

Malpani Trust to provide free training to SICB trainees

GANGTOK, 18 Nov ( Source: Sikkim Now): The State Institute of Capacity Building and the Malpani Trust of Bajwada, Madhya Pradesh signed an agreement today at SICB.  A press release informs that the objective behind SICB and Malpani Trust coming together is to assist, facilitate and add value to provide practical training in organic farming for a period of one month to all trainees of Livelihood Schools for Agriculture and Horticulture related courses at their farm at Dewas, Madhya Pradesh.

The purpose of the training is to harness the potentiality of the trainees on organic and sustainable farming through NATUECO Science.  The Malpani Trust is highly impressed with the State Government’s initiative to declare the State as Organic by 2015 and the process started towards that direction, the release mentions.
The Trust believes in individual growth and development through Capacity Building in the Agriculture and Horticulture Sector including value addition and entrepreneurship leading to the prosperity of the State.  The Trust will not only train the youth on farming but simultaneously develop their inner confidence to be a new breed of farmers who is consciously aware for his better livelihood.

The concept of capacity building is highly appreciated by Malpani Trust as both the institutions have the same concept and motto to develop the capacity of youth.

The Malpani Trust has offered training free of cost in their farm alongwith food and accommodation to the trainees of the batch of 40 trainees at a time for a period of one month.  It was also decided to depute the first batch from 01 to 31 December 2012, the release informs.

The SICB is sponsoring all the trainees of Livelihood Schools related with Agriculture and Horticulture with a batch of forty each alongwith two Trainers.  It is also agreed that the training will be conducted throughout the year except in the months of April, May and June.

This is being done as the trainees of the hill area find it difficult in these months due to the hot temperature in the plains. The Trust has also offered to provide consultancy and follow-up in each Livelihood School related with Agriculture and Horticulture quarterly without charging any fees to SICB, the release further adds.

Three words enough to access your tax records – beware

source-Tax Guru

If you are thinking of filing your income tax returns online, think twice. It is very easy for anyone to hack into your account and have access to your income tax details. All a hacker needs to know is -
1. Your name
2. Permanent account number (PAN) and
3. Your date of birth.
He first needs to log onto the e-filing website (www.incometaxindiaefiling.gov.in). 
After this, all he needs to do is click on the login link and then click on the ‘forgot password’ link that appears. Having clicked on the ‘forgot password’ link, a screen that allows him to change the password appears. There the hacker needs to choose method1.
In order to change the password, the hacker first needs to know the login. The login in this case is the individual’s PAN.
After entering the login data, he needs to enter your name and then finally your date of birth, or date of incorporation in case of a Hindu undivided family (HUF).

This done, he needs to enter the new password twice and click on the reset password button. And, voila, he has hacked your account. It is as simple as that.

After changing the password, he can access the account using the new password and have access to your tax records. This would include information like your gross income for the year, the amount of tax saving investments you made, the amount of tax deducted at source and the tax refund you may get. He would also have access to your phone number and address.

These days, for most financial transactions, right from opening a bank account or a demat account or to invest in a mutual fund, the PAN number needs to be quoted. Along with this the date of birth also needs to mention. So getting hold of these details isn’t a big deal.

If someone knows your PAN and date of birth, he can also create your login. And if you want access to it, you’ll have to hack it. How do you go about doing that? Well, that has been clearly explained above.
What is surprising is how the income tax department can set up a system that’s so easy to hack into.

Steps to Register on New Income Tax Website for Individual & HUF

• 
  
  Steps for Individual

1. Click on ‘ Register Yourself’ on the homepage.
2. Select the user type as ‘Individual’.
3. Provide PAN details and other details like e-mail ID, Mobile number and answer one of the security questions.
4. Click ‘Continue’.
5. Provide Password details and Contact details.
6. Click ‘Submit’.
7. On successful registration, an e-mail is sent to the registered e-mail ID alongwith the activiation link and the User ID. Click on the Activation link to activate the e-Filing account.
8. LOGIN with the User ID, Password and Date of Birth.

Steps for HUF

1. Click on ‘ Register Yourself’ on the homepage.
2. Select the user type as ‘HUF’
3. Provide PAN details.
4. Click ‘Continue’.
5. Provide Password details, PAN details of the Karta, Contact details and Digital Signature Certificate (if available and applicable).
6. Click ‘Submit’.
7. On successful registration, an e-mail is sent to the registered e-mail ID alongwith the activiation link and the User ID. Click on the Activation link to activate the e-Filing account.
8. LOGIN with the User ID, Password and Date of Birth/Date of Incorporation.

Related posts:

1. How CAs Can Register on Income Tax e-filing website as Professionals
2. How to Reset Password on Income tax Website – www.incometaxindiaefiling.gov.in
3. Three words enough to access your tax records – beware
4. How to register TAN online & Request for Consolidated TDS/TCS file
5. Income Tax Efiling – New Changes for AY 2009-10

Indo–Myanmar Border Trade – Amendment & Addition in Existing list of tradable items

PUBLIC NOTICE NO. 30 (RE-2012)/2009-2014

NEW DELHI, DATED THE 16th NOVEMBER, 2012

Subject: Indo–Myanmar Border Trade.

In exercise of powers conferred under paragraph 2.4 of the Foreign Trade Policy, 2009-14 and in supersession of Public Notice No. 289(PN)/92-97 dated 10^th April, 1995 and Public Notice No. 106(RE-2008)/2004-2009 dated 7^th November, 2008, the Director General of Foreign Trade hereby makes the following arrangements with a view to promote Indo-Myanmar Border Trade:

2.       In terms of the provisions contained in the Foreign Trade Policy, import/export of the following commodities/items is permitted by the people living along both sides of the Indo Myanmar Border as per the prevailing customary practice:

I. 22 commodities/items notified by Public Notice No. 289(PN)/92-97 dated 10^th April, 1995:

1. Bamboo, 2. Betal Nuts and Leaves, 3. Chillies, 4. Coriander Seeds, 5. Food Items for Local consumption, 6. Fresh Vegetables, 7. Fruits, 8. Garlic, 9. Ginger, 10. Katha, 11. Minor forest products  (excluding Teak),  12. Mustard/Rape seed, 13. Onion,  14. Pulses and Beans, 15. Reed Broom, 16. Resin, 17. Roasted Sunflower Seeds 18. Sesame , 19. Soyabean, 20.  Spices (excluding Nut Meg, Mace, Cloves, Cassia & Cinnamon), 21. Tobacco, 22. Tomato.

II. 18commodities/items notified by Public Notice No. 106(RE-2008)/2004-2009 dated 7^th November, 2008:

1. Agarbatti, 2. Bicycle’s Spare parts, 3. Blades, 4. Bulbs, 5. Cosmetics, 6. Cotton fabrics, 7. Fertilizers, 8. Imitation jewellery, 9. Insecticides, 10. Leather footwear, 11. Life saving drugs, 12. Menthol, 13. Mosquito Coils, 14. Paints & Varnishes, 15.Spices, 16. Stainless steel utensils, 17. Sugar & Salt, 18. X Ray paper & Photo paper

III. 22 new commodities/items added through this Public Notice:

1. Agricultural machinery/equipments/tools, 2. Bicycle, 3. Bleaching powder, 4. Coal, 5. Edible Oil, 6. Electrical & Electric Appliances, 7. Fabricated steel products, 8. Garments /readymade garments/cloths, 9. Handlooms and handicrafts items, 10. Hardware/minor construction materials and electrical fittings, 11. Lime, 12. Medicines,13. Milk powder, tea, edible oil, beverages, 14. Motor Cycles & Motor Cycle Spare Parts, 15. Other items such as electronic/musical instruments, stationary item, torch light, 16. Plastic items: water tank, buckets, chairs, plastic pipes and briefcase, 17. Rice,Wheat, Maize,Millets&Oats, 18. Scented tobacco, 19. Semi precious stone, 20. Sewing machines, 21. Textile fabrics, 22. Three wheelers/cars below 100 CC.

3.       Effect of Public Notice:

i.    Existing arrangements for import/export of commodities/items under Indo Myanmar Border have been revised; and

ii.    22 new commodities/items have been added to the existing list of 40 tradable items and all the 62 commodities/items consolidated.

Sd/-

 (Anup K.Pujari)

Director General of Foreign Trade

Current update on Direct Tax Code

On the issue of retrospective tax amendment on which Shome Committee had submitted its report, he said, “The CBDT has given its views. I have taken decisions at my level. The drafting is going on. Again it will go to the PMO and then to the Cabinet.” Referring to the Direct Taxes Code, a bigger matter, he said, “We have now started work. This morning I spent two hours on that. Earlier, I spent several hours. We are looking at it. We have tabulated it...will take final decision.”