Jul

2

Indian Government shares Economic Survey of India 2008-2009

Filed Under Banking, India Business, Indian Government, Infrastructure, Insurance, Regulations, Training & Education | Leave a Comment

The Indian Government today presented the Economic Survey of India 2008-2009 in the Indian parliament. The FY 2009-2010 budget session commenced today with Finance Minister Pranab Mukherjee tabling the Economic Survey of India for the year 2008-09. The railway budget 2009 will be presented tomorrow by the railway minister Mamta Banerjee.

Here are some highlights:

* In the 11th “Five-Year Plan” period from 2007-12, the Govt is expecting to create 58 million jobs in the country. This is great news.

* The next phase of economic stimulus will include both govt expenditure and tax cuts, while keeping the macro economic fundamentals like interest rates, exchange rates and growth rates in mind.

* For the current fiscal 2009-10, the economic survey has projected a fiscal deficit of 5.5% of the GDP. The target for the Govt is to bring down the fiscal deficit to about 3% of the GDP.

* Recommends raising the FDI cap in Insurance sector from 26% to 49%

* Recommends raising the FDI limits in defence sector from 26% to 49%

* Suggests removing the cess, fringe benefit tax, different surcharges on taxes and bring in many different reforms in petrol pricing and the financial sector.

*  India could grow at an average rate of 7% in FY 2009-10, and achieve growth rates of 8-9% in medium term if all reforms being planned are implemented.

Apr

24

TRAI to Telcos: Get Written Consent from Users on VAS

Filed Under India Business, Indian Government, Mobile Telecom, Regulations | Leave a Comment

To prevent accidental activation of value added services (VAS) like call ring back tone and hallo tunes, Telecom regulator TRAI has directed the operators to seek explicit consent from users who have subscribed such services in writing.

TRAI thinks there could be chances of accidental activation of VAS through Out-Bound- Dialer (OBD)-call method, as children at home, can unintentionally pressed a particular key.

Also a customer, without listening to the announcements fully or without understand the offer may press a particular key unintentionally, thereby activating the chargeable service.

Now, operators will have to convey to the customer in writing or through SMS or FAX or e-mail, all the details of the offer of a value added service.  [source: Asian Cerc]

Most Indian Mobile Service providers are banking on VAS for future revenue growth in next 5 years. The above move will introduce extra work for the Indian Telecom value added services (VAS), but it may not be a hurdle that can pull down the margin from VAS, since SMS has also been called as an acceptable way to get User consent, which is similar to how its being done in Europe and other places.