Posts

The Fault in Oxfam Stats: Who pays how much GST in India

Image
  The Fault in Oxfam Stats: Who pays how much GST in India   Prof. Vidhu Shekhar   Summary: Following Oxfam’s claim that the bulk of GST taxes are paid by the poorest of the country, which was presented at WEF Davos and had a wide coverage, including in mainstream media, we dig deeper to find out the actual share of who pays how much of GST.   "Of the total taxes collected from these food and non-food items, 64.3 percent of the total tax is coming from the bottom 50 percent," - screamed the well-highlighted text in the report titled “Survival of the Richest: The India Story” by Oxfam. The report was presented at the World Economic Forum in Davos last year, making headlines with its alarming assertion that India’s indirect tax system disproportionately burdens the country’s poorest citizens. The report painted a grim picture, suggesting that the bottom half of India’s population bears the lion’s share of GST payments while the wealthiest contribute only a fraction. The

Understanding Sri Vasuki Naga

Image
  India Discovers Vasuki Indicus: The Largest Known Snake from the Eocene Period Read on to learn about it and also to learn who Sri Vasuki Naga really is. In a remarkable discovery , Prof Sunil Bajpai and Dr Debajit Datta of the Indian Institute of Technology, Roorkee found the fossil of a serpent in Gujarat that may have been the largest snake ever to exist on Earth. Named Vasuki Indicus , after the king of snakes in Hindu mythology (Vasuki) and its location (Indicus for India), this madtsoiid snake from the warm Eocene period is estimated to be even larger than the previous record-holder, Titanaboa. This discovery reinforces India's status as a land with one of the highest levels of biodiversity in the world. Interestingly, the scientists involved chose to name the snake after Sri Vasuki Naga , a prominent figure in Hindu mythology. Sri Vasuki is known for being the serpent adorned by Lord Shiva around his neck and for his role as the rope in the churning of the great ocean (Sag

🌐 The Science of Sri Viswakarma: The Great Lord of Engineers and Divine Architect

Image
  In India, the worship of Sri Viswakarma, the divine architect and Lord of Engineers, holds a special place in the hearts of those in the engineering profession. Every year, on the auspicious occasion of Viswakarma Jayanti, engineers put down their tools and dedicate their time to honor and venerate this divine figure as they celebrate their celestial patron. Sri Viswakarma: The Embodiment of Creation and Cosmic Principles Sri Viswakarma represents the very essence of creation and the fundamental principles that govern the universe. His name itself holds profound meaning – 'Viswa' signifies the world/universe, while 'Karma' represents the total of actions and their consequences. Together, 'Viswakarma' embodies the collective karma of the universe. As the divine architect, Sri Viswakarma is the ultimate engineer, the one who shapes and constructs the world itself. The Importance of Cause and Effect in Engineering At the core of engineering lies the principle of

🚨 Historic Moment in Global Finance: Bank of Japan’s Pivot on Interest Rates 🚨

Image
  🚨 Seismic Shift in Global Finance: Bank of Japan Ends Era of Negative Interest Rates 🚨 In a historic move that sent shockwaves through global markets, the Bank of Japan (BOJ) has bid farewell to its long-standing negative interest rate policy. By raising rates to 0.1%, the BOJ has signaled a pivotal change in its approach to monetary policy, effectively closing the chapter on free capital. 🌑️ Stagflation Fears Prompt Policy Shift Japan narrowly escaped recession last month, but the looming threat of stagflation – a combination of economic stagnation and rising inflation – has compelled the BOJ to take action. This policy shift marks a significant departure from the central bank's previous stance, which had long been a bulwark against the global trend of rising interest rates. πŸ‹️ The Weight of Japan's Debt Burden The BOJ's reluctance to raise rates earlier stems from Japan's staggering national debt, which stands at a whopping 220% of its GDP – a total of $9 trilli

Chitragupt: Unraveling the Science & Hidden Picture of the Great God of Accountants

Image
  In the grand tapestry of Hindu mythology, there exists a fascinating deity - Chitragupta. He is the revered god of Accountants in India, who diligently worship him reverentially as a perfect accountant every year on Chitragupta Jayanti. So, who is this Chitragupt, and why do accountants worship him? Well, the answer is significantly deeper than you can imagine and shows the depth of philosophy that is prevalent in Hinduism. The Science of Chitragupt Citragupt, the great all-seeing, all-recording presence - is the celestial accountant, meticulously documenting every action, every thought, and every desire of an individual. This ledger, a comprehensive record of one's life, is presented to the soul at life's end. It serves as a mirror, reflecting the cumulative essence of one's earthly journey. To decode what the deity Chitragupta represents, let's start with the name given itself. CirtaGupt, or Chitra, that is Gupt, ie. Picture that is Hidden. The deity, therefore, rep

πŸ”₯πŸ“° Bitcoin: Satoshi Nakamoto Emailing Satoshi Nakamoto?

Image
Some latest news for Bitcoin enthusiasts - as part of the ongoing London court case involving the Crypto Open Patent Alliance (COPA) and Craig Wright, a set of the earliest emails from the elusive Bitcoin founder, Satoshi Nakamoto, were released. πŸ‘₯ These are emails between Satoshi and Adam Back. For context, Adam Back is the Blockstream CEO and cryptography pioneer behind Hashcash - an early system to combat denial-of-service attacks that influenced Bitcoin's proof-of-work mining. These emails provide rare direct communication between the original Bitcoin white paper author and Adam Back in Bitcoin's formative days. The emails themselves cover technical discussions around cryptography, proof-of-work systems, and digital payments. πŸ”But here's where it gets interesting: Adam Back himself is the top contender for being Satoshi. I personally am convinced he is - for a lot of reasons: right place, right time, right age, correct skill set, academic type, use of Hash Cash, com