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Economy

Category

Recently there was a news item on the Income Tax Officers Union are unhappy with the Government of India’s plan to bring in faceless tax assessments, which is being planned to reduce direct contact between the officers and the assessee thereby minimizing the scope for corruption. This is following the trend of Government tackling (hopefully) the deep-rooted malice of corruption in the department – Government tells 22 IRS officers to put in their papers over graft charges. My thoughts on this There needs to be no doubt now. If the officials (and shortly the union) opposes a move by the…

Till some years ago, it was an accepted fact, that the purpose of a company should be to maximize shareholder value – an idea popularised by American honchos. Now, this idea is being questioned. There are many alternative views being heard from around the world. In India, in the past, many of the big businesses were family-owned and they were interested in taking care of their shareholders (their family members) as leaving a legacy for their future generations to cherish was important apart from the profits. Recently in the press, there have been many articles discussing this topic of what…