Posts Tagged ‘Indian Government’
Indian Government Website Hacked
A second Indian government Web site – operated by the Institute of Remote Sensing – has been compromised for malware purposes, says Finjan Inc., one of the big names in secure web gateway products and a provider of unified web security solutions for the enterprise market. News that the site has been hacked by cybercriminals came after Finjan reported that the Government of India portal was hacked back in May of this year.
“This latest hack is interesting on two fronts. First the attack has happened despite the Indian government stepping up security on its hosting servers. And secondly, the cybercriminals have added a script into the site that adds an iFrame attack to the page,” said Yuval Ben- Itzhak, Finjan’s chief technology officer.
“The page then re-routes to a LuckySploit-infected server in Texas that fires off multiple attacks across the Internet. Early reports suggest that the site hack and re-route has infected several thousand Internet users,” he added.
According to Ben-Itzhak, the LuckySploit toolkit uses a variety of methods to infect users and is notable for using a complex encryption system to hide what it is doing. The bad news about this exploit is that the infected pages are only detected by 4 out of 41 anti-virus engines on the Virustotal.com code checking portal.
Finjan’s malicious code research team has notified the Indian CERT (Computer Emergency Response Team) operation about the problem.
“More than anything, this infection teaches us that any site can be compromised and serve malicious code without the site owner knowledge. This is why Web protection utilizing real-time content inspection is needed for businesses to prevent such attacks and keep their valuable data away from hackers,” added Ben-Itzhak
“Individual users should also consider installing a URL-checking browser plugin such as Finjan’s free-to-use SecureBrowsing tool,” he said.
What’s Brewing for the Indian Budget Plan?
There are a lot of discussions happening over the last few months between the various committees involved in preparing the budget and the stakeholders. Though no one knows about the exact proposals in the budget, some discussions with industry captains and the public do create an anticipation of things that may come through!
This article is a snapshot of some of these discussions and expected decisions in the forthcoming budget.
Gratuity Limit Increase
There are talks to increase the Gratuity Limit to Rs.10 lakhs from the present Rs.3.5 lakhs. The proposal will be presented during the budget session of the parliament. The earlier request from the salaried class was to remove the limit itself. So that all of the eligibility in the gratuity kitty of a salaried person will get paid out.
Stimulus for the Economy
It is expected that the stimulus packages that were released during the global economic down trend for the economy will continue. The packages include assured employment programs, infrastructure programs related to roads, easy access to loans for companies, less interest rate on loans by reducing the CRR and SLR.
It is expected that the same support will continue this year too. One of the key things that can go against the continued stimulus is the very high inflation.
Export Support Continues
Various supports given for the exporters can be expected to continue during this year too. Some companies have also asked for anti-dumping duties for products being imported from China. If implemented, the impact will be good for Indian companies and their employees. However the cost of some products for the common man may go up.
GST Implementation
This is a much talked about and many times postponed implementation. There are a number of benefits from the GST Implementation. The major benefit for the common man is the potential reduction in prices of products. The reason being the tax burden in the form of multiples levels of taxes on products & services will come down.
The government will also benefit because more companies and services can be brought under the tax net. So the Government will get lesser tax from more number of people leading to higher income and greater compliance. It is hoped that this budget will give a clear date for the implementation of GST.
Garments
Textiles industry is expected to get a number of favorable supports from the budget. This is expected for both the natural textiles and also the man-made fibers industry. For the ‘aam admi’, this will mean lesser prices for garments.
Food Processing Industry
More than 25% of the fruits and vegetables grown in India are wasted before they reach the consumers. This is one of the reasons for the high inflation related to foods items. Currently the food processing industry has a high excise duty for branded products. This prevents many users from being able to afford the products. It is expected that this budget will give a fillip to this industry. If one could preserve or prevent the 25% of the fruits and vegetables from decaying can one expect the prices to be lower by 25%?
Reforms in Foreign Investment
Reforms in the form of greater foreign investment in the financial services industry is expected from this budget – insurance for example. It is also expected that foreign investment in print media would be allowed at least to a small extent.
It is expected that foreign investment will also be allowed in the education sector. This will help to bring quality international education at affordable costs in India itself. Safety of the student is another major benefit considering the physical pains that our students are undergoing in Australia.
For the economy, this can be a double benefit for our foreign exchange: one – investment will come in, two – outflow of foreign exchange due to students going abroad for higher education will come down.
PSU Stake Sales
The Government’s holding in several PSUs is planned to be brought down. Earlier announcements were taking about one such stake reduction every 2 weeks. The cash is required for the Government to reduce its budget deficit and also to continue funding social causes. It is hoped that this budget will set in motion the implementation of the plan.
Innovative Inflation Control
Traditional methods for inflation control like tightening / loosening of monetary policies may not be suitable in this economic scenario. So innovative methods to increase production and through that reduce prices for the common man has to be devised by the Government.