Union finance minister P. Chidambaram said that the new income-tax form, which has been introduced, was "computer-friendly" and easy to fill.

This is the first time that Mr Chidambaram has defended the new form that has drawn flak from various quarters, including his own Congress Party. People were concerned at the details that had to be filled in, including the day-to-day expenses and cash flow. He said: "One of the reasons why form 2F was introduced was that it was computer-friendly, one could file it electronically." He clarified that it is voluntary for taxpayers to fill this form, but did not mention whether it would be made compulsory from the next year. When asked about this, he said, "Let us see how many file the form voluntarily this year."

The finance minister, who returned from abroad on Tuesday night, was talking to reporters after addressing a function organised by the Global Association of Research and policy institutes or GDN, here.Emphasising that the form is easy to fill, he said: "What amazes me is why should people assume income-tax returns are such trifling things that you should fill it in five minutes... One should spend at least half-an-hour to fill the statement. The income-tax form that we have, I believe, can be filled in 20 minutes."

Asked about the alleged harassment of superstar Amitabh Bachchan by the income-tax department, the finance minister said the actor had himself reportedly made it clear that he was not being harassed.
The finance minister also defended the raise in the repo and reverse repo rates by the Reserve Bank of India and said it was in line with the global trend and aimed at containing inflationary expectations.

"I have already said that the RBI response was correct. We have to ensure that inflationary expectations are dampened." He said since the Indian economy is now more and more integrated to the global economy, it has to move in sympathy with what is happening elsewhere. He explained that the European Central Bank had raised its rates and so had several other countries and there are indications that the US Federal Reserve would also do the same. "We have to be ahead of the curve... That is why, I fully endorse what governor Reddy has done," Mr Chidambaram said.

Still in the early stages of development, IP Multimedia Subsystem (IMS) will take at least another year to get going, but has enormous potential, according to In-Stat, a high-tech market research firm. IMS will allow users to seamlessly communicate across multiple networks-wireless, WiFi, broadband, cable-using several different end-user interface devices.
The report and forecasts focus specifically on cellular carriers and applications that are most appropriate for the customers of wireless networks. "IMS was originally developed for 3G carriers," says David Chamberlain, In-Stat analyst. "This report quantifies the possible effects of IMS deployment by cellular companies."

Each of the three five-year forecast scenarios in the report includes detailed methodology and assumptions to use as milestones to chart the progress of IMS deployments in the future. In-Stat says that the introduction and growth of IMS applications and services is dependent on several factors, including selection and implementation of infrastructure, trial and adoption of consumer-oriented applications and services, and handset availability."It is likely that the significant growth in IMS applications and services being offered by wireless will begin to appear well into 2007," it says.

Motorola move

Meanwhile, Motorola, Inc., which has been having a dream run with its RAZR series of mobile handsets, will be launching a whole bunch of new products for the entry-level GSM and CDMA handsets, as part of its Motomobile portfolio. The new range will be targeted at the so-called "emerging markets" like India, which are very price sensitive. Motorola says that responding to a lack of ready access to electricity, the new handsets deliver up to two weeks of stand-by time. Lack of electricity also means a lack of light, so a "lantern" facility has been developed for use at night or in dark environments. For many consumers, radio is the primary source of news and information so all of the new handsets also incorporate an FM radio. The announcement further demonstrates Motorola’s growing momentum since its selection by the GSM Association (GSMA) over twelve months ago to develop and supply mass

market handsets as part of the Emerging Market Handset (EMH) programme. Motorola says its W220 handset includes a built-in stereo FM radio, picture messaging, alarm clock and up to 600 entry phone book, while the W375 combines strikingly svelte design and a splash of colorful self- expression with an integrated VGA camera etc to help users express their individuality. All handsets are expected to be available in the second half of 2006.