Dolphins who fill Form 16s fail at startups

by Manshu on August 4, 2012

in Links

First up, an excellent FE editorial busting some myths about RBI policy.

Next, India is facing drought like conditions, but why isn’t drought a crisis any longer?

North India saw the worst blackout in perhaps the history of mankind and here is a BW article that talks about what this shows about Indian infrastructure.

I loved reading the stories of these 18 start-up founders that talks about their lowest moments before their start up became a success.

BBC has an interesting story on how a Dolphin society that had diverged, has merged once again.

Bemoneyaware has a great piece on how to fill Form – 16.

Finally, the question that’s been on your mind all week long – do Olympic or other competitive swimmers ever pee in the pool?

Enjoy your weekend!

{ 8 comments… read them below or add one }

Indian Thoughts August 4, 2012 at 12:05 pm

I liked your creativity in title πŸ™‚

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bemoneyaware August 5, 2012 at 4:45 am

Agree totally..

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piyush modi August 4, 2012 at 7:33 pm

The FE editorial on busting RBI policy myths etc is just so so wrong. Here is my take on that –

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Using NSS data from 04-08 and comparing that to other data from 09-12 and saying the two don’t hold up.. ofcourse they won’t hold up.. they are from different periods.

And NREGS has been such a huge contributor that how can you even think of leaving out its effect. The affect of NREGS cant be measured by looking at wages of corporate salaried worker, cause demand/supply for those workers is not affected by NREGS. The segment that is, is showing y-o-y inflation of 20% plus. Further, the affect of NREGS has swept through rural populace, and their relatives in urban areas as well.. meaning you should look at unskilled labour as well as blue collar workers to see that wage growth here too would be strong. This, my dear friend is the real cause of wage inflation and elevated inflation expectations.

And from personal experience, I can vouch for this , and the situation is more true than statistics indicate. My dad, relatives, friends all complain that they cant find decent labour cause everyone is drawn away due to NREGS. Further its skewed the labour demand-supply in urban and manufacturing areas also. My local kirana wala complains that he cant find cheap labour.. “babu..kya kare.. koi bhi gaon se aana nahi chahta…”. That’s also obvious, a NREGS worker makes 4000 per month living in his village with no rent and low expenses. If he wants to move to a city, with rent and high expenses, he would demand 6-7000 plus just to equal his after expenses savings in his village. No wonder, the immense shortage of labour.

I see the inflation expectation everyday in my life. The kirana wala, the maid, cook, guard, sweeper, car cleaner, auto wallah, and other such areas, people are no longer willing to negotiate. Simply cause they expect their expenses to be substantially higher in coming months, and they want to be compensated accordingly, and finally they are have a higher hand while negotiating due to the shortage of supply of labour. They don’t budge from what they demand, and ultimately get it as ppl dont have any other option.

I am not saying this is bad.. its good that finally ppl with low wages have pricing power, but that should be based of actual demand, not due to an artificial floor on the supply due to govt stepping in. Total distortion of labour markets.

Worse thing is wages of NREGS is inflation linked, and thus would keep growing, thereby causing a loop… higher nregs wages = higher inflation = higher nregs wages. How in the world will inflation ever come down. Though I agree with the point that no amount of RBI tightening will cool down inflation as the only solution is for govt to exit private labour markets as an irrational and uneconomic agent.

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bemoneyaware August 5, 2012 at 4:47 am

Thanks a lot for mentioning our article on filling of Form 16. We appreciate it.

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DJ August 5, 2012 at 1:39 pm

Uh oh, no more swimming then… πŸ™

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bemoneyaware August 5, 2012 at 4:02 pm

Good one DJ!
After failing at startups maybe they would go back to what they know best swimming πŸ™‚

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Sekhar August 18, 2012 at 10:21 pm

Hi,
I think the article’s title is not right.
Form 16 is not filled by employees or tax assesses, its actually filled by the employer.
Even the article from Bemoneyaware.com talks about filing ITR1, and the information or data points required are taken from Form 16.
So this should be about filing Income tax returns instead of Form 16. Please feel to correct me if Ive missed out something.

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Manshu August 20, 2012 at 8:03 pm

I don’t know any dolphins that failed at startups either so the title is horribly wrong πŸ™‚

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