Economics, National and International, News

A brave new India

The Narendra Modi government inaugurates a fundamental change in the relations between the state and the informal economy. The tentacles of the state now reach the bottom of the informal sector. The vast majority of Indian companies are in the informal sector. The sixth economic census revealed that 94.6% of the country’s non-agricultural establishments had five or fewer workers. Two-thirds of all nonfarm businesses were what the census called “self-employment facilities,” which means that they do not hire workers.

As the population grew and farms were subdivided into smaller fragments, agriculture became a losing proposition for most peasants forced to leave the land to emigrate to urban slums or scratch a precarious life by complementing their income with salaried labor or creating small businesses, or have taken their own lives. The vast informal sector is, for the most part, a vast reserve of disguised unemployment, reflecting the failure of the formal sector to create jobs for the masses. It is a symptom of the detained development of Indian capitalism.

As capitalism develops, the informal sector is expected to decline. Their stubborn persistence is a scandal. The theory was that as the economy grew, the informal sector was shrinking and people would find better and more productive employment in modern industry and services. Unfortunately, the reality for most of those behind industrialization is far from this rosy image. The post-colonial Indian state has always had an ambivalent relationship with the informal sector.

While previous reservations for small industries have been withdrawn, the state still helps with bank loans, interest subsidies, occasional exemptions from agricultural loans, and the provision of social services and programs such as the rural employment guarantee program. On the other hand, it considers the sector like an old-fashioned relic and attacks it often by dispossession. But the dominant attitude has so far been the benign abandonment of the small capitalists and the evil negligence of the workers. The government ignores the terrible working conditions in most informal enterprises, while turning a blind eye to widespread tax evasion. The Modi government is changing all this – it does not care about working conditions, but it wants the small capitalists to pay their contributions to the state.

The informal sector is in many ways linked to the formal sector of the economy. Many small businesses work under contract with large companies. Some are suppliers of large units. Organized enterprises benefit from low labor costs in the informal economy and their flexibility. Small traders sell products produced by the formal sector. Informal businesses have their own hierarchy and the larger entrepreneurs among them are not poor. Many of them were able to accumulate substantial surpluses and participate in conspicuous consumption.

These companies were the most affected by demonetization and the tax on goods and services (GST), as well as attempts to clean real estate. Although the demonetization clash has been timely, the TPS, with its self-monitoring mechanism and a clear audit trail, is a major threat to these companies and traders. Not surprisingly, they were the most violent protesters against the new tax. The real problem for them is not so much the high tax rates or cumbersome procedures, but how to declare suddenly the benefits that surpass the revenues reported last year.

One consequence of the introduction of the GST and other measures to combat the black currency will be the increase of the market share for the business sector. Stock traders held open opportunities. A research report from Citibank says, “The ongoing government’s (and GST deployment) structural initiatives will accelerate the transition to the organized sector.” The shift to a less-monetary economy, changes in indirect taxes through the GST, compliance with direct taxes, e-commerce, and some progress in labor law reform will disrupt traditional medium-term structures and long-term economies of scale. ” Not surprisingly, large companies have supported these changes.

Economics, National and International, News

Texas Tech police officer killed, suspect in custody

Police arrested a 19-year-old student accused of killing a Texas Tech police officer at the campus police station Monday night.

University officials warned that the suspect had been arrested and that the campus blockade order had been lifted. In an earlier statement, the university identified the suspect as Hollis Daniels.

College spokesman Chris Cook said campus police had reviewed student welfare Monday night and, upon entering the room, found evidence of drugs and drugs. The agents then took the suspect to the police station for a standard briefing.

While at the station, Cook said the suspect had pulled a gun and fired at an officer in the head, killing him. The suspect fled on foot before being apprehended shortly after.

Texas Tech officials initially issued a blockade alert to students on social networks, encouraging those on campus to “take refuge in a safe place.” Additional information was not immediately available.

Texas Gov. Greg Abbott issued a statement Monday about the shooting, saying “hearts go to the family of the murdered policeman.” Abbott also said he had mobilized the police to assist in the investigation.

Economics, National and International, News, Technology, World

N. Korea’s Kim promotes sister, reaffirms nuclear drive

North Korean leader Kim Jong-un promoted his sister to a high-level government post, state media reported Sunday, praising the country’s nuclear weapons program, prompting an international alert.

Kim Jong-Yo is an alternate member of the party’s powerful Politburo, the ruling body chaired by his brother, according to the official KCNA news agency.

The promotion was announced with those of dozens of other senior officials at a party meeting led by the leader on Saturday.

It came as the regime faces mounting global pressure to curb its weapons after recent nuclear and missile tests.

Tensions rose as Kim exchanged verbal threats with US President Donald Trump, who tweeted Saturday that “one thing will work” to tame the isolated state of a nuclear military.

The sister, in her early twenties, was often seen with her brother in their “orientation study tours” and other events and is known to have attended party propaganda operations.

Both were born to former leader Kim Jong-Il and his third partner, former dancer Ko Yong-Hui.

The family has ruled North Korea since its inception in 1948. The current leader came to power after his father’s death in December 2011.

Since then, he has overseen four of the country’s six nuclear tests – the last time in September – as it consolidates its grip on power through a series of purges, including those involving its uncle and half brother.

Uncle Jang Song-Thaek was executed in 2013 for treason and half brother Kim Jong-Nam was killed by a toxic nerve agent during a Cold War assassination at a Kuala Lumpur airport. February.

North missile capabilities and nuclear weapons have made significant progress under current Kim despite the growing UN sanctions.

At the party meeting on Saturday, Mr. Kim admitted that the country faces “trials” in a “serious” situation, but said its economy had risen this year despite increasingly stringent sanctions.

He described the atomic weapons of the North as a “precious sword” to protect it from aggression.

“North Korea’s nuclear weapons are a valuable source of the bloody struggle of its people to defend the fate and sovereignty of the country against the prolonged nuclear threats of the US imperialists,” said M. Kim.

Economics, National and International, News

Nawaz Sharif’s son-in-law arrested on return to Pakistan

The National Accountability Bureau team was tasked with former army captain Muhammad Safdar after arriving from London at Benazir Bhutto International Airport.

Pakistan’s anti-corruption authorities arrested the son-in-law of the ousted Prime Minister Nawaz Sharif on Monday in connection with corruption cases pending against him.

A team from the National Accountability Office (NAB) took former army captain Muhammad Safdar in custody a few minutes after his arrival from London to Benazir Bhutto International Airport with his wife Maryam Nawaz.

Safdar was nominated by the NAB in one of three corruption cases filed on 8 September against former Pakistani Prime Minister Sharif, his daughter Maraym, sons Husain and Hasan and son-in-law Safdar.

The couple had appeared before an anti-graft court as part of the NAB referral for Sharif family properties in London.

Safdar was taken to a court in Islamabad, NAB officials said. Maryam, who was not arrested, appeared separately in the same court for the first time.

However, Sharif and his two sons were absent as in London, where Sharif’s wife, 67, is battling throat cancer.

Sharif attended both previous hearings, but went to London last week to see his wife sick.

The court held a brief hearing and was stopped before announcing that the hearing will resume soon. During the brief hearing, Maryam received copies of the case documents.

Sharif’s lawyer also made a request to exempt him from his appearance today, while he was with his wife in London.

The trial judge had previously issued unwarranted arrest warrants for the arrest of the two children of Safdar and Sharif for failing to appear in court at the last hearing on 2 October.

The court, however, repeated the arrest warrants of Sharif’s daughter.

“We return and we will appear before the court to go through the machinery of justice, we respect the rule of law and the Constitution,” Maryam said, quoted by local media.

When asked if her brothers would return to Pakistan to address NAB references to them, she said, “Hassan and Hussain would tell you their own decision.”

Safdar told Geo News that the couple had decided to return to Pakistan on the advice of their lawyers.

Sharif had to relinquish his position as prime minister and chairman of the PML-N ruling party after being disqualified by the Supreme Court on July 28 in the Panama Papers scandal.

Sharif was re-elected president of the PML-N in power on October 3 and immediately demanded that those who disqualified him respected the people’s mandate and democracy.