Pondicherry Univ launches Governance Cell to inspire Next-Gen Public Leaders (See 'Corp Brief') Why Family Businesses in India Are Losing Their Own Bloodline (See CORP EINSICHT) MoS discusses Coastal Action Plan, Deep Ocean Prospects in Puducherry (See 'Corp Brief') IPR - Controller of Patents must clearly specify in hearing notice 'known substance' against which claimed invention of applicant is being assessed: HC (See 'Legal Desk') MoU signed to develop MY Bharat 2.0 Platform (See 'Corp Brief') 8th National Level Steering Committee meeting of Atal Bhujal Yojana held (See 'Corp Brief') SARFAESI - If borrowers have already availed remedy u/s 17 and secured creditor has no other alternative remedy, then creditor can avail remedy of petition under Article 227: HC (See 'Legal Desk') Centre issues Model Rules to States to aid Ease of Doing Business in Agroforestry (See 'Corp Brief') We have to make cycling trend in this modern generation: Mandaviya (See 'Corp Brief') Arbitration & Conciliation Act - Commercial Court not justified in refusing to release 25% of arbitral award to petitioner-company solely due to its change of name: HC (See 'Legal Desk') Sonowal hails Brahma Kumaris for 50 years of spiritual service and human upliftment (See 'Corp Brief') CEA organises All-India Electrical Safety awareness programme (See 'Corp Brief') SEBI - Delay in filing appeal not condonable where facts reflect that appellant was clearly aware of proceedings commenced by SEBI but did not prosecute appeal: SAT (See 'Legal Desk') India sends 1st consignment of rose-scented Litchi from Pathankot to Qatar (See 'Corp Brief') Govt approves ESI Amnesty Scheme - 2025 to reduce litigation (See 'Corp Brief') Sonowal inaugurates India's First Maritime NBFC - Sagarmala Finance Corporation Limited (See 'Corp Brief') NeGD launches 'AI in Governance' Training Program for Govt Officials at IIT Delhi (See 'Corp Brief') ECI starts proceedings to delist 345 RUPPs to begin with (See 'Corp Brief') Negotiable Instruments Act - as is trite law, a legal notice must be read as a whole & isolated errors such as typographical mistakes should not invalidate the entire notice: HC (See 'Legal Desk') Mega Infra Projects in Jharkhand, Sikkim, Assam & Arunachal Pradesh reviewed (See 'Corp Brief') President of India to preside over 'MSME Day' (See 'Corp Brief') NMDC invites applications for fully sponsored Education Programs for Tribal Youth (See 'Corp Brief') PMLA - Attachment of property does not effect or transfer title, unless property is confiscated and it can be when accused is convicted: SAFEMA (See 'Legal Desk') Workshop with FinTech Companies on expanding FASTag ecosystem (See 'Corp Brief') Bid submission timeline extended for SECI's Green Ammonia tender (See 'Corp Brief') Axiom-4 Marks Realisation of Vikram Sarabhai's dream: MoS (See 'Corp Brief') IBC - Dues of State is entitled to be treated as secured creditor u/s 53 of IBC: NCLAT (See 'Legal Desk') ECI to begin Special Intensive Revision of Electoral Rolls in Bihar (See 'Corp Brief') MoS calls for closer collaboration among IITs, IIMs, AIIMS, IIMC & CSIR (See 'Corp Brief') 7th Helicopter & Small Aircraft Summit held in Pune (See 'Corp Brief') CCI approves acquisition of shares in Aakash Educational by Manipal Health Systems (See 'Corp Brief') IPR - Merely adding mandarin character can't add any distinctiveness for being granted registration, and that too qua pharmaceutical product, if said character can't be deciphered by general public: HC (See 'Legal Desk') CCI approves acquisition in Manappuram Finance & Manappuram Asset Finance by Bain Capital (See 'Corp Brief') CCI okays acquisition of equity of Haldiram Snacks by Alpha Wave Ventures (See 'Corp Brief') Amended BharatNet Program operationalises in Gujarat (See 'Corp Brief') PMLA - Enforcement Directorate must pass orders under of retention under section 20(1) and 21(1) of the PMLA in respect of seized property and seized records: SAFEMA (See 'Legal Desk') Sonowal calls for Sports Resurgence in Assam (See 'Corp Brief') Vanijya Bhawan is symbol of Good Governance, Excellence: Goyal (See 'Corp Brief') SARFAESI - equitable considerations cannot override statutory auction process; writ jurisdiction under Article 226 cannot be invoked to compel bank to accept One Time Settlement or interfere with SARFAESI proceedings already adjudicated under statutory forum: HC (See 'Legal Desk') Hindustan Copper welcomes Chile's CODELCO Team to India (See 'Corp Brief') IICA inks MoU with National Academy of Defence Production (See 'Corp Brief') Competition Act - mere dissatisfaction with service conditions or operational practices did not warrant intervention, more so where any prima facie case under Section 3 or 4 of the Act are not made out: CCI (See 'Legal Desk') Chouhan reviews ICAR-Central Institute of Agricultural Engineering in Bhopal (See 'Corp Brief') DG RPF calls for synergised action by RPF-GRP across States to Safeguard Railway Pax (See 'Corp Brief') Trade Marks - Where an application for registration of Trade Mark is filed on proposed to be used basis, the mark can still acquire distinctiveness before registration; refusal of registration based on lack of distinctiveness unjustified, more so where similar marks were registered by same authority: HC (See 'Legal Desk') PM leads nationwide celebrations of 11th International Day of Yoga (See 'Corp Brief') PMLA - Once property is already auctioned by bank under SARFAESI, legal implications of sale depended on whether sale certificate had been issued: SAFEMA (See 'Legal Desk') NCLAT is not a mere rubber stamp for CoC decisions (See CORP EINSICHT)

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Pre-Budget meet - Start ups share suggestions

Published: Jun 17, 2019

By TIOLCORPLAWS NEWS SERVICE

NEW DELHI, JUNE 17, 2019: THE Minister of State for Finance & Corporate Affairs, Mr Anurag Thakur, on Saturday held a Pre-Budget Consultation Meeting with the representatives of Digital Economy and Start-ups here today in connection with the forthcoming General Budget 2019-20. The main areas of discussion during the aforesaid Meeting included Data Issues such as use of Big Data technology in improving the forecasting of Economic, Financial & climatic phenomena by analysing large data sets, Use of Big Data Technology for SME Sector and unleashing the power of Big Data for Public Governance. Other issues which dominated the discussion included Digital Infrastructure &Role of Government, Regulation of Digital Economy especially in privacy, Consumer protection and Financial Regulation and Software as service among others.

The representatives of Digital Economy and Start-ups shared their views and suggestions regarding Big Data, data mining, building of digital infrastructure as the big challenge before Indian economy besides scaling-up and incentivising Research & Development (R&D)within India. While the experts discussed the issues ailing their respective fields, they also suggested a variety of solutions to the sector specific problems. Development of Start-Ups and Micro Small and Medium Enterprises (MSME) eco-system in the country also featured in various suggestions.

Experts and representatives gave suggestions related to enhancement of public services through data analytics, development of efficient citizen-Government interaction by development of public services applications, building big data capacity for MSME sector, inter-linkages and data sharing within the Government and with private players, suggestions related to Angel Tax, need for assessment and dealing with digital frauds especially cross border digital frauds and deceptive practices and setting-up of an Agency to deal with them, incentivize Indian IP Products and Funding of Open Source Innovation, differential tax structure for assembled and manufactured goods, instituting advanced mobile communication, need for separate mobile and fixed landline bandwidth for business and entertainment, industry-friendly review of spectrum auction norms, reduction of dependence on international software service providers and increased support to domestic software service providers, continuation of existing tax benefits to digital companies, reduction in Corporate Tax, tapping into Artificial Intelligence for streamlining health services, development of legislation for data governance and incentivising Indian Intellectual Property professionals among others.

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