Railways launches Special Drive for Disinfection of Drinking Water Tanks (See 'Corp Brief') Regional Manthan Conference on Road Safety held (See 'Corp Brief') Minister highlights successful Blended Green-Finance Framework for Land Restoration (See 'Corp Brief') IPR - Mere addition of descriptive suffix or insertion of corporate descriptors in trade name, does not sufficiently distinguish, particularly when competing goods target same class of consumers: HC (See 'Legal Desk') India Post accelerates Digital and Infrastructure Transformation with Upgraded Dak MITRA (See 'Corp Brief') NA-Allocated Talabira II & III Coal Mines mark Record Production in FY 2025-26 (See 'Corp Brief') MeitY Startup Hub, MSH Emerging as Key National Enabler for India's Startup (See 'Corp Brief') SEBI - Bail denied where alleged offences involve large-scale cheating of investors and mobilisation of public funds, causing harm to individuals as well as to public confidence & economy: HC (See 'Legal Desk') India-Cambodia Bilateral Trade grows over 36% to USD 406.78 Million (See 'Corp Brief') India restored 21.76 mn ha land during 2011-2020: Yadav (See 'Corp Brief') IBC - Extraordinary remedies such as forensic audit u/s 241-242 of Companies Act cannot be granted on mere allegations or shareholder distrust: NCLT (See 'Legal Desk') NCSK distributes Appreciation Certificates among Outstanding Safai Karamcharis (See 'Corp Brief') Stakeholders explore actionable measures to promote inclusivity across financial institutions (See 'Corp Brief') SEBI - Writ court's intervention not needed in respect of a preliminary SCN proposing to conduct an inquiry & giving opportunity to petitioner to present objections: HC (See 'Legal Desk') EPFO urges establishments to utilize Employees' Enrolment Campaign, 2026 (See 'Corp Brief') SEBI - Regulator cannot substitute its own commercial judgment for business decision of a company in relation to funding its wholly owned subsidiary: SAT (See 'Legal Desk') MoS delivers inaugural address at BRICS Science Ministerial Meet at Chennai (See 'Corp Brief') SEBI - Noticee cannot be held liable for carrying out unregistered investment advisory activities or for promising assured returns where evidence does not exist to show that Noticee conducted core advisory activities: SEBI (See 'Legal Desk') Procurement of tyres: CCI imposes penalty on Rekha Agencies and SS Marketing (See 'Corp Brief') Sonowal inaugurates Rs 428 Crore Projects at Paradip Port (See 'Corp Brief') Committee discusses Next Phase of UDAN & strengthening of Pilot Training Ecosystem (See 'Corp Brief') IPR - Trademark registration is liable for cancellation u/s 57(2) of Trade Marks Act if it is made without sufficient cause: HC (See 'Legal Desk') Office of Pr. CCA, Delhi, celebrates National Senior Citizens Day (See 'Corp Brief') 29 FDI Investments worth Rs.4,895 Crore reported under Revised Framework (See 'Corp Brief') Aadhaar App crosses 5 crore Downloads (See 'Corp Brief') SARFAESI - In respect of monies recoverable from a defaulting entity, the dues payable to a bank, being financial creditor, do not take precedence, over dues owed to the EPFO: HC (See 'Legal Desk') CSIR-CRRI and CSIR-AMPRI organise Workshop on Innovative Materials (See 'Corp Brief') DFS organises Workshop to Strengthen Implementation of Reservation Policy (See 'Corp Brief') IBC - Payment or transaction involving company's assets during insolvency moratorium without court approval is illegal: NCLT (See 'Legal Desk') Experts from DGFT, EXIM Bank and Digital Commerce share Practical Insights with MSMEs (See 'Corp Brief') Chhattisgarh emerges as First inland State to initiate Exports of Value-Added Tilapia products (See 'Corp Brief') IBC - Writ remedy cannot be invoked where petitioner does not challenge any order passed by either Tribunal but merely seeks directions relating to listing, constitution of special bench & restraint on pending proceedings - costs of Rs 25000 imposed on petitioner: HC (See 'Legal Desk') Digital Public Infrastructure is a Necessity, not a Luxury: MoS (See 'Corp Brief') IPR - Fundamental test in trade dress passing off action is one of overall impression and similarity, rather than side-by-side comparison of minor differences: HC (See 'Legal Desk') RDI Fund 'Conflict of Interest' policy protected by Stringent Safeguards: MoS (See 'Corp Brief') BRICS Youth Council Meeting and BRICS Youth Summit held successfully in Gandhinagar (See 'Corp Brief') PMLA - Accused has no vested or matter-of-right entitlement to conversion of non-bailable warrant into bailable warrant: HC (See 'Legal Desk') RM to hold bilateral talks with his Japanese counterpart in New Delhi (See 'Corp Brief') IBC - Only crystallised claims as on effective date are payable on pro-rata basis from designated Operational Creditors Settlement Amount: SC (See 'Legal Desk') 'Friends of MY Bharat': A New Global Youth Connect launched (See 'Corp Brief') RDDBFI - Borrowers cannot cherry-pick figures from bank certificates while ignoring standard accounting treatment of interest after NPA classification: SC (See 'Legal Desk') Tete-a-tete around AI in banking sector often begins with algorithms (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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