President Trump says he favours a merit based immigration system that brings in highly skilled people ans creates jobs inside the US not take away jobs of Americans. He wants to sign a bill that no one thought could have been agreed on. Outsourcing hundreds of workers is especially detrimental in the middle of a pandemic,which has cost millions of Americans their jobs. The US Government is by far the largedt consumer of contracted information-technology work but data ande scarxe on how many H1Bs may be working on Governemnt contract work is being done overseas. Major silicon alley based companies will be affected as most have extensive contracts with firms.This move is part of the make America great again campaign supported by the Trump administration.
Gold Imports have plunged to $79.14mn suring thebfirstctwocminths of 20-21. Owing a major fall in demand which is at its 26year low according to the World Global Council. Amid the clash in gold imports the Government has approached jewellers and bullion dealers on how to tap Indias idle gold.The industry proposes aligning Income tax law with gold deposit schemes, raising gold holding which provides safetly and interest earnings. With Gold deposited in GMS , which provides investors save the storagencost for keeping their precious metal safe, still being able to earn an interest. Further they will be able to withdraw in the form of gold or cash and earn interest upto 2.5 percent per annum also further saving on safe deposit lockers for saving their gold. Gems and Jewellery Export Promotion has proposed to limk GMS with the income tax Act which states that jewellery upto 500gms per married woman, 250 gms per unmarried woman and 100 gms for every male member can be deposited. These n