To Americans, A return gift by President Trump…

The following article is based on my own interpretation of the said events and/ or publicly available information. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Debasish Acharya, MBA 2016-18, Vinod Gupta School of Management, IIT Kharagpur
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Background

High-Skilled Integrity and Fairness Act of 2017 will significantly impact Indian companies such as Infosys, TCS, and Wipro, in addition to US tech giants like Apple, Facebook and Google. Initially, idea behind H1B visa was aimed at supplementing the US workforce with high-skilled workers for doing those jobs for which Americans did not possess required skills. Over time, there have been many quibblings about many companies replacing American workers with foreign counterparts, as the latter can be hired at lower salaries using H1B visas with the same skillsets. Few cases were also evident of Americans being forced to train H1B holders to do their own jobs and gradually they were fired.

The new H1B visa reform bill aims at increasing the minimum salary for visa holders to $130,000, more than double the current minimum. This implies companies would either have to pay a higher costs for employing highly-skilled foreign citizens or hire the Americans. It would also remove the ‘per country’ cap for employment-based immigrant visas. A gap in demand and supply for talent for smaller companies, which cannot afford the highly skilled workforce, may be created by these visa reforms.

Opinion

Seventy years of independence and the state is such changes take place in the US and there is a tremendous impact on us. Do we think more about foreigners while formulating policies for our own. Certainly not, so why are the hues and cry if someone else does that? We call ourselves as a developing nation, but we like to serve it better staying abroad. Ranking fourth globally in brain drain, we have given ourselves a reason to worry. We fail to recognize our potential, numerous justifications will follow but somewhere in the search of an affluent lifestyle, we have lost our own identity. Let us start believing in ourselves, there will be few road-blocks but somewhere down the line we will not be worried in future.

Reference:

http://www.insidermonkey.com/blog/11-countries-with-highest-brain-drain-366967/?singlepage=1

http://timesofindia.indiatimes.com/world/us/h-1b-visa-reform-bill-introduced-in-us-house-of-representatives/articleshow/56888616.cms

 

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Expectation from the Budget-2015

The following article is based on my own interpretation of the Budget-2015. Any material borrowed from published and unpublished sources has been appropriately referenced. I will bear the sole responsibility for anything that is found to have been copied or misappropriated or misrepresented in the following post.

Yogesh Suthar, MBA 2014-16, Vinod Gupta School of Management, IIT Kharagpur

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There is very high expectation from the Prime Minister Modi’s maiden budget this year. PM Modi who storm to the Centre last year with development agenda could unveil several reforms during this budget session.

First and foremost challenge in front of Modi is to improve investment sentiment among investors and increase India’s image in terms of ‘ease of doing the business’.  Govt has been working to address this issue and had mentioned in the past that it would take several steps like GST, Tax reforms and one window clearance among others.

There is high need for infrastructure development, It investment and policy reforms to realize the government’s ambitious flagship schemes like Make in India, Digital India. Recent fall in crude oil prices has also helped govt to collect the funds and keep its expenditure on subsidies under the check.

Middle class and salaried people also have high hope from the Modi Govt that it would increase tax slabs and tax exemption limit. It would cost government some income but will definitely boost overall savings in the country.

Recent debacle in Delhi election has left investor confused but finance minister Jaitely has immediately made it clear that it wouldn’t back down and reforms would continue to take place. With only 15 days remaining we hope that this budget would meet the expectation of public and drive investment.