Question: I am an electronics engineer working in the Gulf for the past three years. I am advised that specializing in cybersecurity could significantly enhance my career prospects, especially as I plan to migrate to the US eventually. I am uncertain whether to pursue this specialization or not.
ANSWER: The escalating threat of cybercrime has posed substantial challenges for industries and governments worldwide. Consequently, the demand for cybersecurity professionals has surged. The United States Bureau of Labor Statistics forecasts a 32% annual growth in cybersecurity roles, making it the fastest-growing tech career. Many companies are grappling with a severe skills shortage as there are not enough qualified professionals. To combat the threats posed by malicious actors exploiting vulnerable consumer devices, countries are implementing stricter cybersecurity regulations. This has led to a pressing need for cybersecurity engineers, ethical hackers, and compliance specialists to ensure devices adhere to the new guidelines. Additionally, companies are hiring skilled cybersecurity experts to develop secure products, conduct risk assessments, and manage compliance requirements. The Indian Government, for instance, has introduced regulations like the Code of Practice for Securing Consumer IoT and the Digital Personal Data Protection Act. Therefore, specializing in cybersecurity could be a wise move, offering lucrative job prospects in both the United States and India.
Question: Several multinational companies are establishing operations in India. CEOs of Indian origin are also being recruited. However, leadership roles are still not widely given to women. Is this trend evolving?
ANSWER: Over the past five years, the number of global roles in India has significantly increased. According to a recent report, out of over 6,500 positions, 1,100 are currently held by women. There has been a noticeable rise in women assuming leadership roles, particularly in global capability centers where they have taken charge of core engineering, innovation, finance, and more. These companies benefit greatly from having women in leadership, as they bring fresh perspectives to decision-making processes. It has been observed that women are not only participating but increasingly becoming key decision-makers, driving innovation with a unique approach. In summary, gender bias against women is diminishing, and they are reaching the top of the corporate ladder at a younger age, bringing leadership styles that emphasize collaboration and resilience—qualities highly valued in today's complex business environment.
Question: Despite India's growing population, the tax base among individuals has not expanded as expected. However, I might be misinformed as I have not kept up with the latest figures. Can you provide some insights?
ANSWER: The number of taxpayers in India has seen a substantial increase in recent years, particularly in personal taxation. For the financial year 2014-15, there were 57 million individual taxpayers. By the financial year 2023-24, this number has nearly doubled to 104 million. The personal income tax collection was Rs.7 trillion for the financial year ending March 31, 2015, and has surged to Rs.19.6 trillion by March 31, 2024. The contribution of direct taxes to total tax revenue has reached a 14-year high of 56.7%. Both advance tax payments by individuals and withholding tax recovered from assessees have been rising rapidly. The cost of tax collection has been decreasing as total tax revenues increase, partly due to rationalized tax administration and computerization of the tax department. The rise in income tax receipts from individuals is attributed to increasing income levels in India, driven by robust economic growth. Additionally, the tax department is leveraging technology, including artificial intelligence and data analytics, to expand the tax net. For the past three years, tax collected from individuals has exceeded that from the corporate sector, indicating India's progression towards developed nation status.
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