1.

Imf used the same menu as once relevant for latin america for the countries of
asia where the rateof inflation was lower.the first task of imf should have been to stop the
panic and bring back the confidence on the rail.instead it wrongly pushed up the agenda
for structural reform.
2. The indonesian economy has been facing recession and under such as situation
the imf prescriped the budget cut, wage freeze, expenditure reduction, interest hike and
other forms of restrictions that are not only starkly inappropriate but also more harmful
for the recession bound economics of indonesia.
3. The damaging repercussions precolated to the real sector and the banks were
rendered insolvent by the inability of the borowwers to service thier debts, the exchange
rates weakened and the created further damage to the financial system.

1.
Yes monitor should consider strengthening their business research unit and recruiting more
people for thier global clients in india because of various advantages like

2.
Though there are some disadvantages such as low labour productivity, cultural differences and
lacking infrastructure.India still offers many opportunities which monitor cannot miss like low
rages rates, promising economy .So having their own research company in india despite several
disadvantages is their best option.

1. Consideration must move at the desire of the promisor:

The first important rule of consideration is that the act or forbearance must be done at the desire or
request of the promisor. If it is done without his request or at the request of a third party, it will not
be a valid consideration. It is very simple that unless a person offers to do something, how can he be
made liable to pay for that?

2. Consideration may move from the promisee or any other person:

It means that the act or forbearance may be done by the promisee himself or any other person on his
behalf. In other words, consideration may be given by the promisee or any other person on his
(promisee's) behalf.

3. Consideration may be past, present or future:

The words, "has done", "does" or "promises to do" indicate respectively that the consideration may
be past, present or future.

(i) Past Consideration:

Where the act was done in the past or the promisor had received the consideration before the date of
the promise, it is called a past consideration.

(ii) Present Consideration:

Where the act is done in the present or the promisor receives the consideration along with his
promise, the consideration is present consideration. It is also called an executed consideration.

(iii) Future Consideration:

It is also called executory consideration. Where the act is to be done in future or the promisor is to
receive consideration after the date of promise, it is a future consideration.

4. Consideration must be real and not illusory:

Consideration must be real, i.e, it has some value in the eye of law. It should not be illusory.

(i) Forbearance to sue:

It has been pointed out earlier that consideration may be positive or negative. Negative consideration
implies forbearing some right. Thus forbearance to sue a debtor can be a good consideration.

(ii) Compromise or composition of claims:

Compromising bonafide disputed claim is a good consideration. In fact, it is also a kind of

forbearance on the part of the creditor. For example, a creditor agrees to accept less than what is
actually due to him. However, the claim should be bonafide. If the claim turns out to be frivolous or
unfounded, the consideration will fail and the debtor would be entitled to refund of the amount paid
by him.

5. Consideration must not be something which the promisor is legally bound to do:

A promise to do something which a person is legally bound to do is not a good consideration. As

such, preexisting legal and contractual obligations cannot be regarded as good consideration.

6. Consideration must not be illegal, impossible, uncertain, ambiguous, fraudulent,

immortal or opposed to public policy:

The law does not compel anybody to do something illegal, impossible, immortal or opposed to public
policy. On the countrary, the law punishes a person who does something illegal, immortal or opposed
to public policy.

(i) Illegal Consideration:

Illegal consideration means doing an act which is prohibited by law.

(ii) Impossible consideration:

Impossibility may be physical or legal. In both the cases, the consideration would not be a good
consideration.

(iii) Uncertain consideration:

A promises to pay an uncertain amount is not a good consideration.

(iv) Immoral consideration:

Immoral consideration means an act against positive morality as recognized by law.

According to Section 65 of the Indian IT Act, a person who intentionally conceals or destroys or alters or
intentionally or knowingly causes another to conceal, destroy or alter any computer source code used for
a computer, computer program, computer system or network when the computer source code is required
to be maintained by law is punishable with imprisonment upto 3 years or with fine that may extend upto 2
lakh Rupees or with both. Computer source code means the listing of programs, computer commands,
designs and layout and program analysis or computer resource in any form.

Section 66 of the IT Act deals with the offence of computer hacking. In simple words, hacking is accessing
of a computer system without the express or implied permission of the owner of that computer system.
Examples of hacking may include unauthorized input or alteration of input, destruction or misappropriation
of output, misuse of programs or alteration of computer data. As per Section 66, a person with the
intention to cause or with the knowledge that he will cause wrongful loss or damage to the public or any
person destroys or deletes or alters any information residing in computer resource or diminishes it value
or utility or affects its injuriously by any means commits hacking. Punishment for hacking is imprisonment
upto 3 years or fine which may extend to 2 lakh Rupees or both. Hacking means destruction or alteration
of any information residing in computer resource, that is destruction or alteration of tangible and/or
intangible assets of a computer resource.

The subscriber or any person in charge of the computer resource (though which such information has to
be intercepted) is required to extend all facilities and technical assistance to decrypt the information. Any
person failing to do so shall be punished with an imprisonment term that may extend to seven years. The
appropriate Government may by notification declare any computer, computer system or computer network
to be a protected system[4]. Any unauthorized access of such systems will be punishable with
imprisonment that may extend to ten year or with fine.

Any person Misrepresenting or suppressing any material fact to the Controller or the Certifying Authority
shall be punished with imprisonment for a term which may be extend to one lakh rupees or both[5].
Punishment for breach of confidentiality and privacy is imprisonment for a term which may extend to two
years or with a fine which may extend to one lakh rupees or both[6] .
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 Information Technology Act, 2000

89. Power of Controller to make regulations.

(1) The Controller may, after consultation with the Cyber Regulations Advisory Committee and with the
previous approval of the Central Government, by notification in the Official Gazette, make regulations
consistent with this Act and the rules made thereunder to carry out the purposes of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such regulations may
provide for all or any of the following matters, namely:-
(a) the particulars relating to maintenance of data-base containing the disclosure record of every
Certifying Authority under clause (m) of section 18;
(b) the conditions and restrictions subject to which the Controller may recognize any foreign Certifying
Authority under sub-section (1) of section 19;
(c) the terms and conditions subject to which a license may be granted under clause of sub-section
(3) of section 21;
(d) other standards to be observed by a Certifying Authority under clause (d) of section 30;
(e) the manner in which the Certifying shall disclose the matters specified in sub-section (1) of section
34;
(f) the particulars of statement which shall accompany an application under sub-section (3) of section
35.
(g) the manner by which the subscriber communicate the compromise of private key to the Certifying
Authority under sub-section (2) of section 42.
(3) Every regulations made under this Act shall be laid, as soon as may be after it is made, before
each House of Parliament, while it is in session, for a total period of thirty days which may be
comprised in one session or in two or more successive sessions, and if, before the expiry of the
session immediately following the session or the successive sessions aforesaid, both Houses agree in
making any modification in the regulation or both Houses agree that the regulation should not be
made, the regulation shall thereafter have effect only in such modified form or be of no effect, as the
case may be; so, however, that any such modification or annulment shall be without prejudice to the
validity of anything previously done under that regulation.
Business technology has revolutionized the way companies conduct business. Small businesses can
implement business technology and level the playing field with larger organizations. Small businesses use
computers, servers, websites and personal digital products to develop competitive advantages in the
economic marketplace. Small business owners should consider implementing technology in their planning
process. This allows owners to create operations using the best technology available.

Importance
Small business owners can use technology to reduce business costs. Business technology helps
automate back office functions, such as record keeping, accounting and payroll. Business owners can
also use technology to create secure environments for maintaining sensitive business or consumer
information. Many types of business technology or software programs are user-friendly. This allows
business owners with a minor background in information technology to use computer hardware and
software.

Features
Business technology can help small businesses improve their communication processes. Emails, texting,
websites and personal digital products applications, known as apps," can help companies improve
communication with consumers. Using several types of information technology communication methods
allow companies to saturate the economic market with their message. Companies may also receive more
consumer feedback through these electronic communication methods. These methods also allow
companies to reach consumers through mobile devices in a real-time format.

Function
Small businesses can increase their employees' productivity through the use of technology. Computer
programs and business software usually allow employees to process more information than manual
methods. Business owners can also implement business technology to reduce the amount of human
labor in business functions. This allows small businesses to avoid paying labor costs along with employee
benefits. Business owners may also choose to expand operations using technology rather than
employees if the technology will provide better production output.

Potential
Technology allows small businesses to reach new economic markets. Rather than just selling consumer
goods or services in the local market, small businesses can reach regional, national and international
markets. Retail websites are the most common way small businesses sell products in several different
economic markets. Websites represent a low-cost option that consumers can access 24/7 when needing
to purchase goods or services. Small business owners can also use Internet advertising to reach new
markets and customers through carefully placed web banners or ads.

Considerations
Business technology allows companies to outsource business function to other businesses in the national
and international business environment. Outsourcing can help companys lower costs and focus on
completing the business function they do best. Technical support and customer service are two common
function companies outsource. Small business owners may consider outsourcing function if they do not
have the proper facilities or available manpower. Technology allows businesses to outsource function to
the cheapest ares possible, including foreign countries.

Supporters of democracy often reply that it helps countries get rich. After all,
theres an obvious correlation between wealth and democracy -- note that
Europe, Japan, and the U.S. are all wealthy democracies. Sure, China has
experienced great growth, but thats because it started out poor and is huge in
size.

But is it correlation, or causation? Does democracy actually make countries

richer, or is democracy merely a luxury in which rich countries can indulge?

This question is hard to answer. For one thing, countries only get rich once, and
democracies usually only become democratic once or twice. Also, there are lots
of other things about countries that might cause wealth, democracy or both.
Although we will never know the answer for sure, a top team of economists has
done what is just about the most careful study that is humanly possible.

MIT economist Daron Acemoglu and James Robinson of Harvard, famous for the
idea that inclusive institutions are the key to national development, teamed up
with Suresh Naidu and Pascual Restrepo to tackle the problem. They use a large
number of different statistical techniques to examine the effect of
democratizations. They also use an alternate technique, where they look at
waves of democratization.
All of the methods give the same answer: Democracy increases gross domestic
product by about 20 percent in the long run.

That isn't a huge number -- almost certainly less than democracys proponents
would like. But its not nothing, either. It turns out that Viktor Orban is wrong;
authoritarianism probably wont help his country get rich, though it wont doom
Hungary either.

Acemoglu and company also examine the question of how democracy boosts
growth. They find that countries with democracy have better government -- they
pursue more economic reforms, provide more schooling, provide more public
goods and reduce social unrest. They also find, contrary to many who have been
following Chinas story, that business investment is higher in democracies.

Now, that isn't a definitive, final answer. We may never have one -- or at least,
not for hundreds of years. Maybe democracies have done well in the last century
simply because they could trade with, and be protected by, the U.S. -- the richest
and most powerful country around. Perhaps now that China, by dint of its sheer
size, is wresting the crown away from the U.S., we will see things reverse. We
cant yet rule that out.

But the institutional improvements that Acemoglu et al. find suggest that the
reasons go deeper into the structure of society. These observations match the
theory of New York University political scientist Bruce Bueno de Mesquita, who
hypothesizes that in democracies, there are too many voters to pay off with
cronyism, forcing leaders to provide more public goods like education,
infrastructure and property rights.
Our best guess is that democracy really is the best form of government currently
available.

There is also the question, however, of whether democracy will survive. Some
critics of democracy observe that humanity spent a very long time under some
kind of authoritarian rule, such as monarchies or military dictatorships, while
democracy is only a recent innovation.

But economists Toke Aidt, Raphael Franck, Peter Jensen, and Gabriel Leon
recently did a study that found that since the early 1800s, revolution, or the threat
of revolution, has tended to nudge countries toward democracy. If this study is to
be believed, it means that democracy is a more stable configuration for a society
than autocracy in the modern, industrial age. Just as a tower of blocks tends to
fall over when shaken, autocracies tend to turn into democracies when the
system is disturbed. This clearly wasnt the case before the Industrial Revolution,
so democracy is best seen as an adaptation to the new technological
environment.

Not only is democracy good for business, it's here to stay unless the world
undergoes some other dramatic shift on the scale of the Industrial Revolution.
Viktor Orban, and even Chinas mighty Communist Party, really do seem to be on
the wrong side of history.