TMSEp67: Data protection, job trends, markets, ITR Forms

After two years of deliberations, a parliamentary panel tasked with reviewing India’s first Personal Data Protection Bill submitted its recommendations last Thursday. The committee suggested wider exemptions to the government from the bill’s provisions which has raised concerns from opposition. It has also not addressed issues raised by the industry over data localisation rules. 

Outside the Parliament -- where treasury and opposition benches sparred over the Personal Data Protection Bill -- green shoots of economic recovery were sprouting across the country. Sitting about 1500-km away from the seat of power, chief executive of Monster India, Sekhar Garisa, told Business Standard’s Krishna Veera Vanamali from Hyderabad that it was a great time to be an employee. The demand for talents was back to the pre-pandemic level across most industry sectors and a lot of opportunities were chasing a fewer number of candidates. 

From the booming job market, let us turn our focus to the equity market now. Britain hiked the interest rates last week, becoming the first G7 economy to do so since the pandemic struck. The US Federal Reserve and the European Central Bank also signalled plans to rein in stimulus. The different paths taken by major central banks underline deep uncertainties over the fast-spreading Omicron and their differing views on inflation. Yet, one thing is certain that emerging market equities, including India, that have been accustomed to the ‘easy money’ policy in the past 18 months may come under pressure over the next few months.

All governments take their share from your earnings, including the one made in the equity market. After several extensions, the deadline for filing the income tax return is finally drawing close. Many of us wait till the last moment to finish this annual exercise, but that is not advisable. You could end up paying a hefty fine, or worse, get a notice from the income-tax department. Find the different categories of ITR forms that taxpayers fill and more on this episode of the podcast. 

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