Social issues world Habitat Day

SEBI’s Lack of manpower to enforce the rules: The US Security Exchange Commission’s (SEC) strength is 4554 while that of SEBI is just 780 and whereas SEBI is regulating a lot more companies than SEC.

Implementation agency: The lack of a dedicated implementation agency for these provisions is the major lacuna. The same problem was earlier seen with the clause 49 of the Listing agreement of SEBI, which defined the corporate governance norms for listed companies.

Way Forward

While India has had good norms on governance, enhanced monitoring and strict enforcement will make the real difference in the level of compliance and manner of implementation. Moreover the opinion of different experts must be taken before finalizing the report.

6. 
   Inheritance Tax On HNIs Likely To Be Reintroduced
   

In News

• 
  The government is considering the levy of an inheritance tax on high net worth individuals. India had inheritance tax from 1953 and discontinued it in 1986.
  

• 
  For this government has sought feedback, recommendations on the proposed re-introduction of inheritance tax also known as estate duty. The tax could range from 5% to 10% and would apply only to families with a certain net worth.
  
• 
  As per Hurun Research Institute India had 617 individuals with wealth of 1000 crores. And currently there is no tax in India on bequeathed assets.