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World military spending hit a record $2.7 trillion in 2024, up 9.4% — the sharpest rise since 1988. Spending rose across all regions for the 2nd year running. Where does India stand, and what does this arms race mean for the global economy? Today's Number Theory explores this in detail.

Read on HT app: hindustantimes.com/editors-pic

#Defense #MilitarySpending #Military #SIPRI #US #China #Ukraine #India #Germany #Russia #DataViz @mastodonindians #MastIndia

The Pahalgam terror attack targeted tourists at the height of the season. It threatens to derail the J&K’s tourism recovery. Today's Number Theory looks at the economic impact of terror attacks in J&K.

Read on HT app: hindustantimes.com/editors-pic

#MastIndia #India @mastodonindians #JammuandKashmir #Pahalgam #Terrorism #Economy #DataViz

The brutal killing of 26 tourists in Pahalgam has reignited debate on tackling Pakistan-backed terror in J&K—a structural issue rooted in decades of divergence between India and Pakistan. Here are 3 charts that explores this in detail.

Read on HT app: hindustantimes.com/editors-pic

#MastIndia @mastodonindians #India #Pakistan #JammuandKashmir #Pahalgam #Terrorism #Economy #DataViz

Continued thread

[Part 3/3]
I am not sure how encryption issues will be addressed without jeopardising platform security. Also, I lack the legal knowledge to determine if overriding end-to-end encrypted communication is similar to breaking the lock of any door, box, locker, safe, or almirah. Dhruv Garg, a technology lawyer, elaborates on my concerns regarding data privacy under the impending Income Tax Bill [1].

> He explained that the bill defines "virtual digital space" broadly, encompassing both digital elements and physical infrastructure like servers. This, he noted, blurs the boundary between the virtual and physical world, raising potential privacy issues. "This has the potential to challenge the existing paradigm of privacy in India," Garg warned. He explained that the Digital Personal Data Protection Act, 2023 (DPDP Act) is designed to avoid conflicts with other laws.

I hope that the scope of the proposed tax law will not expand in future. Under the current circumstances, the extent of my privacy due to end-to-end encrypted communication in India, appears to be limited largely with respect to my neighbours and colleagues. I get a similar feeling when I share my personal details through soft copies or xerox copies of my Aadhaar [2] to individuals of various small and big organizations as proof of my identity and address.

1. boomlive.in/explainers/new-tax
2. en.wikipedia.org/wiki/Aadhaar

BOOM · New Tax Bill Lets Officials Snoop On Emails, Social Media: What Does It Really Mean? | BOOMBy Hera Rizwan
Continued thread

[Part 2/3]
In the Finance Bill 2025, Finance Minister of India gives legal backing to govt accessing digital assets [1].

> Under the new framework of the Finance Bill 2025, tax officials can access encrypted communications, cloud storage, and digital asset exchanges if they believe a person has concealed taxable income or cryptocurrency holdings.

> The new tax bill allows officials to access communication platforms like emails, WhatsApp, and Telegram, as well as enterprise software and storage servers businesses use to conceal financial transactions. "Gathering evidence from digital accounts is essential not only to prove tax evasion before a court of law but also to compute the exact amount of tax evaded,'' said the FM.

The Indian government has always faced the challenge of striking a tight balance between individual privacy and national security. Now, in the current digital age, this proposed bill has the potential to violate personal rights and set a dangerous precedent for mass surveillance in India. The final outcome could have ramifications for civil liberties, digital privacy regulations, and encryption standards worldwide [2].

> FM Sitharaman highlighted that digital forensics played a crucial role in unearthing unaccounted money. "Encrypted messages on mobile phones led to unearthing ₹250 crore unaccounted money. Evidence of crypto assets has been detected in WhatsApp messages. WhatsApp communication helped unearth ₹200 crore unaccounted money," said FM Sitharaman on the new bill.

It is not known exactly how WhatsApp communications revealed details about crypto asset transactions, helping unearth ₹200 crore of the total ₹250 crore. Was E2EE compromised? What role did Meta play in this case?

Indian authorities likely obtained the messages directly from the suspects' devices during raids, bypassing the need for Meta to decrypt or provide the data. There’s no public indication that Meta was compelled to assist or provide backdoor access in this specific case.

1. livemint.com/economy/finance-b
2. cyberexperts.com/whatsapp-encr

[Part 1/3]
The proposed Income Tax Bill, 2025, grants the Indian Income Tax department significantly enhanced powers, particularly in relation to electronic and digital records [1]. If passed, the provisions will take effect from April 1, 2026. Some of the key provisions include:

> Access to computer system: Revenue authorities may demand access to electronic records, emails, and social media accounts under suspicion of tax evasion subject to approval from senior tax officials.

> Overriding access codes: If individuals refuse to provide passwords or access codes, authorities are empowered to override digital security measures to inspect financial and communication data.

> Access to Virtual Digital Space: Revenue authorities may also access virtual digital space. The definition of “virtual digital space” in Section 261(i) includes:

a. Email servers
b. Social media accounts
c. Online banking, trading, and investment accounts
d. Cloud servers and remote data storage
e. Digital applications and platforms used for financial transactions

1. businesstoday.in/personal-fina

Business Today · Rule Change In New IT Act - I-T dept can access your private digital spaces, social media accounts, emails for scrutiny; what does this mean for you - I T dept can access your private digital spaces, social media accounts, emails for scrutiny; what does this mean for you BusinessTodayThe proposed Income Tax Bill, 2025, presented in Parliament in February following the Union Budget 2025, enables tax officers to enter digital spaces to obtain information if there is suspicion of concealed income or assets.

Molson Hart's [1] principal concern in the article "America Underestimates the Difficulty of Bringing Manufacturing Back" [2] is how the recently imposed tariff will not enable the USA to bring manufacturing back to the United States and "make America wealthy again".

I want to emphasize that the essay is interesting to those of us who do not live in the United States. It provides a more comprehensive understanding of the industrial supply chain and what it takes for a country to become a manufacturing powerhouse, such as China and now Vietnam.

It is absolutely worth reading.

1. molsonhart.com
2. x.com/Molson_Hart/status/19089

Molson HartMolson Hart

NSE-listed companies lost ₹14.3 lakh crore in market capitalisation on Monday. Today’s Number Theory looks at how Trump’s tariff threats — and global retaliation — triggered the selloff, and what past data tells us about such high volatility in the markets.

Read today's Number theory on HT app: hindustantimes.com/editors-pic

@mastodonindians #MastIndia #Markets #Sensex #NSE #DataViz #TrumpTariffs #Tariffs

Why can’t the RBI force the banks and insurance companies to disclose the official numbers from which they’re allowed to contact their customers, these people sell our data and the scammers use it to disguise themselves as official reps.

Those who think all Indians are scammers look at what we face every day. I’ve been getting a dozen scam calls everyday.

Last week Financial Express reported that Indian Railways gears up to launch first hydrogen train by March 31, 2025 [1].

> Indian Railways, in a ground breaking step towards sustainable transportation, is all set to roll out the country’s first hydrogen-fuelled train by March 31. This eco-friendly innovation will place India among the global leaders in green mobility, alongside nations like Germany, France, China, and the United Kingdom.

> The Ministry of Railways had allocated Rs 2,800 crore in 2023-24 to develop a fleet of 35 hydrogen fuel cell-based trains as part of India’s broader vision for clean energy transportation.

> Railways Minister Ashwini Vaishnaw highlighted that the specifications for these trains were developed by the Research Design and Standards Organisation (RDSO), ensuring the technology is fully Made in India.

With limited resources, I believe India is doing its best towards sustainable transportation. The fact that this train, developed by the Integral Coach Factory (ICF) in Chennai, India, has a 1200-horsepower engine (reportedly the most powerful of its kind globally) demonstrates a remarkable leap forward in indigenous technology. If successful, this could pave the way for broader adoption, particularly on heritage or hilly routes like Kalka-Shimla, where environmental preservation is a priority.

#MastodonIndians #MastIndia #India #GreenTransportation #Sustanability #IndianRailways

1. financialexpress.com/business/

FinancialexpressIndian Railways gears up to launch first hydrogen train by March 31 – Check features, route, investment and moreThe Ministry of Railways had allocated Rs 2,800 crore in 2023-24 to develop a fleet of 35 hydrogen fuel cell-based trains as part of India’s broader vision for clean energy transportation.