With regulatory and enforcement agencies clamping down on Bitcoin operators in India, leading international legal and taxation expert Nishith Desai has given this cryptographic digital product a clean chit stating that Bitcoins per se are not illegal in India but how one deals with these may be matter of legality. “Our Bitcoins Practice Group examined the issue from techno-legal perspective, and we have found that Bitcoins per se are not illegal in India. This is in consonance with international approach,” said Nishith Desai, Founder & Managing Partner of Nishith Desai Associates. “Every new technology comes with new legal and tax problems and technology is a double-edged sword. It is very important that the new technology is understood in timely basis and appropriate regulatory regime is developed so that India does not miss out from a vast opportunity. We should not throttle this business,” Mr. Desai said. He said ten years ago, lot of people lost lot of money in dotcoms … [Read more...] about Bitcoins per se are not illegal in India: Nishith Desai
Clean energy alliance
While India celebrates its 75th year of Independence, it also celebrates 60 years of diplomatic relations with the European Union (EU). A cooperation agreement signed in 1994 took the bilateral relationship beyond trade and economic cooperation. The first India-EU Summit, in June 2000, marked a watershed in the evolution of the relationship. At the fifth India-EU Summit in 2004, the relationship was upgraded to a ‘Strategic Partnership’. The two sides adopted a Joint Action Plan in 2005 towards strengthening dialogue and consultation mechanisms in the political and economic spheres, enhancing trade and investment, and bringing peoples and cultures together. The 15th India-EU Summit, in July 2020, provided a common road map to guide joint action and further strengthen the partnership over the next five years. The road map highlights engagement across five domains: foreign policy and security cooperation; trade and economy; sustainable modernisation partnership; global governance; and … [Read more...] about A road map for India-EU ties
The former president reflects on the nation's's struggles since he exited the White House 10 years ago ASPEN, Colo. -- During Bill Clinton's two terms as president, the median family income increased by 14 percent, the number of Americans in poverty declined by nearly 17 percent, and the number of children in poverty fell by almost one-fourth. Since he left office in 2001, the median income has declined by 5 percent, or more than $2,500. The number of Americans in poverty has increased by 38 percent, or about 12 million. The number of children in poverty has spiked by one-third, or nearly 4 million. Few decades in American history have produced such economic losses. MORE FROM NATIONAL JOURNAL: Enough Already U.S. Economy Less Governable Than Ever Outsiders in Name Only The Clinton-era gains derived, above all, from a dynamic labor market that produced nearly 23 million new jobs from February 1993 to February 2001. Conversely, the stagnation of … [Read more...] about Clinton: What Went Wrong With the Economy After I Left?