In November 2016 after the demonetisation decision was taken to curb black money and root out corruption, allegations were made that the move will harm the economy. But the financial figures of the last quarter give the answer. I. Post demonetisation, cash withdrawals have been declining rapidly from a peak of Rs 528 billion for the week ended 13th January to Rs 325 billion recently (week ended 24th March). II. Industrial output growth has risen to a 13-month high of 5.7% in November while retail inflation slowed to a 25-month low in December. III. India’s foreign exchange reserves surged for the second consecutive week by $932...
Big Data and Data Science Initiative in India- Upcoming Job Opportunities: Big data Job Opportunities in India (Big Data-Series-4 Book 1) Kindle Edition by ajit roy (Author, Editor): https://www.amazon.in/dp/B01IKWLPWQ
Each day, our society creates 2.5 quintillion bytes of data. With this flood of data the need to unlock actionable value becomes more acute, rapidly increasing demand for Big Data skills and qualified data scientists. Data Science and Big Data Analytics is about harnessing the power of data for new insights. A data scientist is somebody who is inquisitive, who can stare at data and spot trends. Big Data brings new opportunities to modern society and challenges to data scientists. According to the optimists, big data in combination with the Internet of Things (IoT), a world where the vast majority of gadgets, machines, and humans are connected to the internet and to each other promises a future where all important decisions about business, life, and society would be taken purely and happily on the basis of data. Prime Minister Narendra Modi has launched an ambitious initiative to digitise India by making Internet access available to over two lakh villages by 2019, promoting e-governance, e-banking, e. education and e-health, and transforming India into a knowledge economy. Covering issues ranging from cyber security and promoting startups to digital highways and "Design in India," Government will invest Rs4.5 lakh crores in the Digital India program which will generate 18 lakh jobs."Reliance Industries (RIL) Chairman Mukesh Ambani said that he will invest Rs2.5 lakh crores which will create employment for over five lakh people. Cyrus Mistry said that Tata Group will hire 60,000 IT professionals, this year. K.M. Birla said that the Aditya Birla Group would invest Rs44,500 crores in next five years in the infra and digital space. That is why Data Scientists are in high demand. The scarcity of data analytics talent is acute and demand for talent is expected to be on the higher because of the present digital India initiative besides many global organizations are outsourcing their work at India. There is not enough talent to fill the jobs. Because the sexiest job of 21th century requires a mixture of broad, multidisciplinary skills ranging from an intersection of mathematics, statistics, computer science, communication and business. Bangalore becoming the data science hub of India both from new startup clusters as well as established analytics firm opening their shop in Bangalore. The book covers breadth of activities, methods and tools that Data Scientists use. It will guide how to become a successful data scientists coming from a number of different disciplines: biostatistics, econometrics, engineering, computer science, physics, applied mathematics, statistics, machine learning, and other interrelated disciplines.
Post Demonetization Budget-2017- Expectations, Apprehensions and Reality: India's Budget-2017 (Demonetisation) Kindle Edition by ajit roy
The Prime Minister's announcement of the withdrawal of ₹1000 and ₹500 notes ranks amongst the most significant economic measures taken by his government. The audacious move has given birth to hopes of a decisive blow to the black economy, terrorism and counterfeit currency. It is also being lauded for its potential to convert India into a cashless economy. The backdrop to the Budget was a fairly volatile past few months with multiple issues such as (a) demonetisation; (b) ambiguities on indirect transfer taxes; (c) treaty changes to India-Mauritius Treaty etc. Union finance minister Arun Jaitley stepped into Parliament on February 1, 2017, unveiled India’s first post demonetisation Budget. Many people have questioned if this move is the biggest disruption for electronic payments in 2016. Remonetisation has made a difference to the situation on the ground in the recent months with cash being inducted back into the system easing the pain and discomfort associated with missing cash for large segments of a cash-dependent population. “It is a digital economy budget. Government has pushed the digital theme in every area of the budget. Every person from small shops to consumers is pushed towards the digital economy. Tax benefits, incentives to use digital payments and extending loans based on a digital footprint will create a larger merchant ecosystem for digital. Payments,” said Sharma highlighting that the focus of this budget was the digitisation of the Indian economy. The Budget announcements by finance minister Arun Jaitley clearly reflect Modi’s confidence that the aam aadmi would support the “bigger moral purpose” behind demonetisation, which now guides various policy measures aimed at “cleansing the economy”. Among the many firsts that the Union Budget 2017 has been associated with, policy and budget measures to construct a digital economy stand out as original and groundbreaking, especially for a growing economy with tremendous competition for financial resource allocations in the sectors of poverty alleviation, education, infrastructure development, health, etc.Focusing on “Digital Economy every person from small shops to consumers is pushed towards the digital economy. Tax benefits, incentives to use digital payments and extending loans based on a digital footprint will create a larger merchant ecosystem for digital payments,” The BHIM app has been launched. It will unleash the power of mobile phones for digital payments and financial inclusion.Affordable housing, spending on rural areas, infrastructure and fighting poverty are noteworthy steps. The two big economic efforts of the Budget were towards housing and a tax break for Micro and Small Medium Enterprises (MSMEs). Many have damned the Union Budget 2017-18 with faint praise: “Workmanlike”, “conservative”, “middle of the road”, “does no harm”, “please-all” and so on. Calling the Budget “mildly growth supportive,” rating agency Crisil notes: “The Union Budget 2017 has performed a balancing act. Prime Minister Modi’s attempt to formalize the economy through the Goods and Services Tax and the demonetization drive, could be the only solution to India’s jobs problem. Undoubtedly GST and demonetization will go a long way in creating jobs but Budget 2017 may have failed to remove the regulatory hurdles that hamper creation of jobs, especially in the education sector, according to some expert. The compiled book entitled ‘Post Demonetisation Budget-2017- Expectations, Apprehensions and Reality’ presents in-depth analysis, insights and key highlights from experts. For convenience of readers the book i
To combat black money, corruption, counterfeit currency and terror financing, government took decision on November 8, 2016 to ban Rs 500 & 1000 notes followed by putting a cap on withdrawals from banks and ATMs, Prime Minister Narendra Modi floated the idea of a cashless society. A cultural-economic revolution in the making. But this surprise demonetization also pushed millions of new users onto the country’s digital economic grid by virtual fiat. Cash might be more expensive for the government, because of tax evasion, corruption and the need to keep recirculation old, spoilt, currency, and enabling transfers, but digital is very expensive for citizens. Most Indians lack the means to use cashless alternatives, irrespective of their desire to do so. India hopes to create a cleaner, more transparent economy via digitalization that will lead to an improved climate for foreign investment, boost economic growth. India is on the verge of massive digital revolution. Towards Digital Economy government initiated launch of ‘two new schemes to promote BHIM app, including cash back scheme for merchants; Aadhaar Pay to be launched for people who don’t have mobile phones. This will not only help millions of Indians overcome the hassles of dealing in cash to emerge as a truly cashless economy. Demonetization initiative and subsequent drive towards developing a cashless economy and subsequent likely impact as well as in depth analysis, insights and key highlights from experts are all presented in the compiled book entitled ‘Cashless Economy in India-Present Scenario, Potential, Prospect and Challenges Ahead’ For convenience of readers the book is divided into the following chapters. Chapter-1: Basics of Cashless Economy; Chapter 2: Mobile Wallets and Apps in India; Chapter 3: Government Initiative in Digital Movement; Chapter 4: Cashless Economy-Challenges and Prospects Chapter 5: Pros and Cons of Cashless Economy and Chapter 6: Next Generation Digital Payments Models in India: Present Scenario.
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‘Real Impact of Demonetization on Various Sectors of Indian Economy and Society’: Post Demonetisation Impact on Economy Kindle Edition(Publication Date: June 1, 2017;Sold by: Amazon Digital Services LLC;Language: English;ASIN: B071JD8675)-by ajit roy (Author, Editor)
ABOUT THE BOOK
Demonetisation announced on November 8, 2016 was aimed at addressing corruption, black money, counterfeit currency and terror financing. Although demonetisation holds huge potential benefits in the medium to long-term, given the scale of operation, it was expected to cause transient disruption in economic activity. Many analysts expected large negative effects on private consumption and investment and thereby the Indian economy. But the financial figures of the last quarter give the answer as follows.
According to the report, “post demonetisation (i.e. after 30th December), cash withdrawals have been declining rapidly from a peak of Rs 528 billion for the week ended 13th January to Rs 325 billion recently (week ended 24th March).
Demonetisation has not affected the growth of the country as Industrial output growth reveals that the Industrial output growth has risen to a 13-month high of 5.7% in November while retail inflation slowed to a 25-month low in December.
According to RBI, Country’s foreign exchange reserves surged for the second consecutive week by $932.4 million to $360.775 billion in the week to January 20 on account of rise in foreign currency assets.
The rupee hit a 16-month peak against the dollar to INR 65.41 per dollar
The number of persons under the income tax net has increased by 91 lakh post note ban as unaccounted cash lost anonymity.
Launched a new website on 'Operation Clean Money,' a programme to bring illegal wealth on books.
According to the Union Finance Ministry, the CBDT has detected undisclosed income of over Rs 9,334 crores between November 9, 2016, and February 28, 2017.
Under Operation Clean Money (OCM), more than 60,000 persons, including 1,300 high-risk persons, have been identified for investigation into claims of excessive cash sales after demonetisation was announced.
Continuing its efforts to track tax evaders by tracing high-value transactions, the income tax department will issue 700,000 letters seeking information about such transactions.
The latest data release, however, shows that the Indian economy grew by 7% (year-on-year) in the fourth quarter of 2016(6.1% for Jan.-March,2017).
The real estate sector seems to have taken a hit in the fourth quarter, but this was largely counterbalanced by a strong contribution of the agricultural sector and manufacturing.
CBDT stated that more than 6000 transactions of high value property purchases shall be subjected to detailed investigations.
More than 30 government-to-business services have been brought online, with e-filing, single-windows and automation being rolled out.
Foreign direct investment (FDI) into India increased by 9 per cent to a record level of $43.48 billion in 2016-17
The book entitled ‘Real Impact of Demonetization on Various Sectors of Indian Economy and Society’ covers nine key topics that are essential to assess the impact of demonetizationand its short, medium and long time economic, social and political
Big Data is a hot topic and getting a lot of media and business attention. Big data is high-volume, high-velocity and high-variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making. Big data finds insights from complex, noisy, heterogeneous, longitudinal, and voluminous data. and aims to answer questions that were previously unanswered. Big data exists in a wide variety of data-intensive areas such as atmospheric science, genome research, astronomical studies, and network traffic monitor. Collecting, analyzing and understanding Big Data is becoming a differentiated strategy today but it will become a fact of life tomorrow. This book, Applied Big Data Analytics is unique among those big-data books because of its great depth and technical approach. It consists of four themes: i)Basics of big data analytics,ii)Tools, techniques and software for analytics iii) Big data analytics in health care sector iv) Big data analytics in industries, bioinformatics and life sciences. With 26 chapters spread over four sections the book demonstrates further the emerging issues and approaches in various areas of Big Data application
The aim of this book is to be accessible to researchers, graduate students, and to application-driven practitioners who work in data science and related fields. It is a timely and urgently needed publication, and it provides the most up-to-date, crucial, and practical infor¬mation for big data management, technologies, and applications. Contributed by experts, it is a must-read book for statisticians, data analysts, IT students, researchers, scholars, and workers with big data in mind. Specialty of this book is that it covers important issues of big data from fundamental knowledge to application in various sectors. With an emphasis on real-life implementation of Big Data technologies, this book will provide bold vision from leading innovators across the data-driven spectrum. The latest tools and trends may help gaining fresh insights and strategic momentum to grow and respond to the analytical requirements.
Indian Prime Minister Narendra Modi has announced that the existing 500 and 1,000 rupee banknotes will be withdrawn from the financial system overnight. The surprise move is part of a crackdown on corruption and illegal cash holdings, he said in a nationwide address on television.The Narendra Modi government's demonetisation crusade is getting extensively covered in the domestic and foreign press and has evoked mixed responses from leading media houses across the world. The move sucked out about 86 percent of the Rs 15.44 lakh crore cash in circulation. This resulted in a cash crunch. The public queued up before the banks and ATMs to deposit old notes they possessed and also to withdraw cash. While some international newspapers hailed PM Modi's decision as a revolutionary move by the NDA government in cleaning up the Indian economy, others have been critical about the unstructured implementation of the scheme, which has created a liquidity crunch in the economy and affected the common citizens’ lives. The demonetisation initiative brought out a fair share of criticism and acclamation. Many welcomed the government's decision to demonetize the currency notes in circulation in the economy as bold and revolutionary as in a single master stroke, the government has attempted to tackle all three malaises currently plaguing the economy—a parallel economy, counterfeit currency in circulation and terror financing. On the other hand critics argue that it has struck a body blow on economic activity in India. The decision met with mixed initial reactions while some welcomed the move, hailed demonetisation as a ‘revolutionary step’, ‘fierce fight against black money and corruption’, supported the demonetisation move stressing that the bold decision will bringing transparency and strengthen Indian economy. Some even say it is a “Surgical Attack” on black money. While critics call the move ‘authoritarian’, ‘monumental mismanagement’. ‘despotic action’, ‘hollow move’,’ witless’, 'anti-people', 'major mistake', 'Sickening and Immoral' etc., and expressed skepticism about its outcome. During last winter session the demonetisation was opposed in both houses of the parliament, triggering organised nationwide strikes. Post demonetization Income tax raids and cash seizures are a common feature. The Enforcement Directorate raided several forex establishments making back dated entries and money laundering using backdated accounting was carried out by co-operative banks, jewellers, sellers of iPhones, and several other businesses. The move has given birth to hopes of a decisive blow to the black economy and counterfeit currency. It is also being lauded for its potential to convert India into a cashless economy. 1.The Theory of Demonetization 2.Facts & Figures of Demonetization of Indian Currency 3.Views and Reactions of Economists,Politicians,Experts on Demonetization 4.Costs and Benefits of Demonetization 5.Advantages and disadvantages of demonetization of Rs.500 and Rs.1000 currency notes? 6.Political Aspect of Demonetization 7.Tax Policies, Raids and Seizures -Post Demonetization 8.Visible impact of Demonetization 9.Demonetization and Terrorism 10.Scenario after 50 Days of Demonesisation 11.Frequently Asked Questions 12.References The book being first of its kind may be considered as an essential one-stop guide for the concerned who are interested in in-depth understanding of demonetization and its short, medium and long time economic, social and political, impact in India. The book
The first volume of the book entitled 'Big Data and Data Science Initiative in India-Upcoming Job Opportunities’ was published in July 2016.Since then a lot of events have taken place India like Demonetisation, Cashless economy, GST bill etc. besides smart city project, make in India, digital healthcare and New India Vision. When Prime Minister Narendra Modi made the demonetisation announcement on the night of 8 November, it started an administrative chain reaction focused on squeezing money launderers, promoting less-cash economy and of course remonetising the banking system. The CAG’s Centre for Data Management and Analytics (CDMA) is going to play a catalytic role to synthesise and integrate relevant data into auditing process. FIU and the RBI will be saddled with heaps of complex transaction data from the post-demonetisation months. Indian financial system is also generating huge data with several players’ foreign banks, public sector banks, private banks, cooperative banks, rural banks, credit cooperatives, and the specialized non-banking financial corporations. Presently the Income Tax department of GOI, will reportedly use big data analytics to comb through personal bank deposits money holders. As per reports, the analytics tool was used in the past for corporate tax reporting. Now, for the first time it will be used on a massive scale to rule out any in discrepancies found in personal taxes and records. India aims to create a cleaner, more transparent economy via digitalization that will lead to an improved climate for foreign investment, boost economic growth, and ultimately propel the country to the next chapter of its emerging markets story. India by making Internet access available to over two lakh villages by 2019, promoting e-governance, e-banking, e. education and e-health, and transforming India into a knowledge economy. Digital India is a visionary initiative of the GOI to ensure that government services are made available to citizens electronically. Universal Banking Initiative in India in focusing on simplifying the customer experience. Government will invest Rs4.5 lakh crores in the Digital India program which will generate 18 lakh jobs.The government have huge complex transaction data from the post-demonetisation months. Now it is time to leverage data analytics capabilities to track down those who may have tried to game the banking system. Tools such as Big Data can be effective in collecting information about financial misappropriation. The data provided by banks can be analyzed to find unusual activity in currency flow, whether at an individual or a regional level,” Global consulting firm McKinsey has said digital finance is a $700 billion opportunity for India, offering 11.8 per cent boost to GDP by 2025, benefitting millions of people. Keeping in view the major initiative by various departments of Govt. of India and private sectors in applying Bigdata and data science indifferent aspects of business, banking, healthcare, economy the book entitled 'Big Data and Data Science Initiative in India-Upcoming Job Opportunities(Vol.-2) is compiled. The book highlights the latest development in the initiative of GOI & private sectors and tools that Data Scientists use through the following chapters Ch-1: Understanding Bigdata and Data Science Ch-2: Trends in Big Data Analytics Ch-3: Bigdata and Data Science Application by Govt. of India- Ch-4: Data Science Application by Private Sectors Ch-5: Bigdata Applied in Agriculture Ch-6: Digital Transformation Initiati