RBI advises Sikkim to work for fiscal prudence
October 01, 2009, 21:32
Gangtok: The Reserve Bank of India (RBI) on Wednesday advised the Sikkim government to raise revenues from internal sources to bridge the huge fiscal deficit in the state.
Sikkim has had high fiscal deficit despite having revenue surplus, which means the state has excess receipts than expenditure on non-capital account. However, the surplus revenue has been channelised into capital expenditure, RBI Governor D Subbarao, who presided over a meeting of the bank regulator's board of directors here, said.
Rao, who had earlier in the day called on Sikkim Chief Minister P K Chamling at his Mintokgang residence, said that he advised the latter that Sikkim or other north eastern states cannot take for granted the generous allocation of the Central grants in future as well.
Sikkim alongwith other seven north eastern states get more per capita central grants than other states, who "make noise about it" with the finance commission, he said.
Sikkim and other north eastern states should be prepared to raise more revenues from its own sources to tide over fiscal deficit and meet their expenses, the RBI Governor said.
Meanwhile, the Sikkim Chief Minister assured him (Rao) that the state government has explored various avenues, including tapping its hydro-power resources, to generate revenues of its own to meet various expenditure in future, he said.
The RBI Governor described Sikkim as an important financial destinations in the country with tremendous potential in terms of penetrations by the banks as compared to other states.
Rao said that it has also been decided to set up 10 more branches of various banks across the states and four more currency chests in addition to three such currency chests already functioning in Gangtok.
The RBI Governor said that the apex bank has also taken note of the Chief Minister's observations of delay in the transfer of the central grants in the accounts of the state government and said that the banks have been directed to keep sufficient liquidity to make available the central funds to the state at the earliest.
The Reserve Bank said that banks would open additional currency chests in Sikkim in the next nine months to cover all the district headquarters in the State.
"Banks will open additional currency chests in the State of Sikkim within the next nine months so as to cover all the district headquarters in the State," RBI said in a release.
Saturday, October 3, 2009
Thursday, October 1, 2009
OF 100 ITIS INTO CENTRE OF EXCELLENCE
Reckoning the period of Centrally Sponsored Plan Scheme, ‘Upgradation of 100 ITIs into Centres of Excellence” with effect from 2005-06 to 2009-10
--------------------------------------------------------------------------------
1 Oct 2009 13:38 IST
The Cabinet Committee on Economic Affairs today approved the proposal for reckoning the period of Centrally Sponsored Plan Scheme, ‘Upgradation of 100 ITIs into Centres of Excellence” with effect from 2005-06 to 2009-10 on the same terms and conditions without any change in the cost and scope.
The total cost of the scheme of upgradation of 100 ITIs into Centres of Excellence is Rs.160 crore (on cost sharing basis of 75%:25% between Centre and State Governments). 22 States (except for North Eastern States, J&K, Sikkim and 4 UTs – Lakshadweep, A&N Islands, Daman & Diu, D&N Haveli) are covered under the scheme.
The proposal will enable completion of residual activities of the scheme by 2009-10. It aims at empowerment of ITIs, greater flexibility, better linkages with the world of work and conducting training programmes in the emerging areas.
The Scheme was approved for implementation during March, 2005. However, actual implementation was started from the Financial Year 2005-06. The ITIs were identified in consultation with the State Governments. The new multi-skilling courses for the sectors selected by States were developed in consultation with the stakeholders during 2005-06 and the first batch of ITIs started training programme from the academic session of August, 2005. Presently, all the ITIs are organizing training in the multiskilling courses in the identified sectors. An amount of Rs.103.68 crore has been released to the States. Balance amount of Rs.16.32 crore is proposed to be released during the current financial Year 2009-10 which will complete the process of upgradation of 100 ITIs in different States.
******
--------------------------------------------------------------------------------
1 Oct 2009 13:38 IST
The Cabinet Committee on Economic Affairs today approved the proposal for reckoning the period of Centrally Sponsored Plan Scheme, ‘Upgradation of 100 ITIs into Centres of Excellence” with effect from 2005-06 to 2009-10 on the same terms and conditions without any change in the cost and scope.
The total cost of the scheme of upgradation of 100 ITIs into Centres of Excellence is Rs.160 crore (on cost sharing basis of 75%:25% between Centre and State Governments). 22 States (except for North Eastern States, J&K, Sikkim and 4 UTs – Lakshadweep, A&N Islands, Daman & Diu, D&N Haveli) are covered under the scheme.
The proposal will enable completion of residual activities of the scheme by 2009-10. It aims at empowerment of ITIs, greater flexibility, better linkages with the world of work and conducting training programmes in the emerging areas.
The Scheme was approved for implementation during March, 2005. However, actual implementation was started from the Financial Year 2005-06. The ITIs were identified in consultation with the State Governments. The new multi-skilling courses for the sectors selected by States were developed in consultation with the stakeholders during 2005-06 and the first batch of ITIs started training programme from the academic session of August, 2005. Presently, all the ITIs are organizing training in the multiskilling courses in the identified sectors. An amount of Rs.103.68 crore has been released to the States. Balance amount of Rs.16.32 crore is proposed to be released during the current financial Year 2009-10 which will complete the process of upgradation of 100 ITIs in different States.
******
Centre to place crubs on tourists visiting Himalayas
Rajesh Sinha / DNA
October 1, 2009 New Delhi: The government could soon place curbs on the number of tourists visiting the Himalayas. The Union ministry for environment and forests has come out with a set of guidelines to restrict tourist flow (pilgrims included) and make hill stations less crammed and dirty.
The impact of tourism on mountain ecosystems and biological resources are of great concern because of the high biodiversity and environmental sensitivity of
the Himalayas. The guidelines, will discuss urbanisation, tourism, water security, energy, forest management and infrastructure to address the challenges
facing the Himalayan region. It is part of one of the eight missions in National
Action Plan on Climate Change (NAPCC) which envisages, among other things, a
National Mission for Sustaining the Himalayan Ecosystem.
Minister of state for environment and forests, Jairam Ramesh, said that there were “valuable lessons in this document that need to be mainstreamed”. Since
these aspects come under the states’ purview, Ramesh said it is a working document meant to guide governments on what is to be done.
The aim is to promote “sustainable tourism through adoption of ‘best practice’ norms of eco-friendly and responsible tourism”, as stated in National
Environment Policy. It seeks to implement measures to regulate tourist flow and ensure that these remain within the carrying capacity of the ecology.
The document notes the adverse effects of expansion in urban settlements — visitors, trekkers and mountaineers have posed high biotic pressure and increased
the accumulation of solid waste on the Indian Himalayan Region (IHR). The report notes the attempts made to address these issues in some parts of IHR and
recommends they be replicated in other areas as well. Pilgrim traffic finds special attention.
The Himalayas host a number of religious/sacred sites which get millions of tourists each year. Most of these places lack adequate transport accommodation
and waste disposal facilities.
In some cases, initiatives have been taken to promote sustainable tourism. For example, the Uttarakhand government has restricted the number of tourists
visiting the origin of the Ganga to 150 per day.
Cultural identities are also under threat “by the economic, social and environmental forces associated with mountain tourism”, the report observes.
In spite of Sikkim’s efforts to place checks on tourists, tourism has grown rapidly (from nearly 15,000 tourists in 1980 to 6,00,000 in 2008 ) in the state.
The report suggests that Sikkim’s initiatives could be emulated by those interested in promoting responsible tourism
Rajesh Sinha / DNA
October 1, 2009 New Delhi: The government could soon place curbs on the number of tourists visiting the Himalayas. The Union ministry for environment and forests has come out with a set of guidelines to restrict tourist flow (pilgrims included) and make hill stations less crammed and dirty.
The impact of tourism on mountain ecosystems and biological resources are of great concern because of the high biodiversity and environmental sensitivity of
the Himalayas. The guidelines, will discuss urbanisation, tourism, water security, energy, forest management and infrastructure to address the challenges
facing the Himalayan region. It is part of one of the eight missions in National
Action Plan on Climate Change (NAPCC) which envisages, among other things, a
National Mission for Sustaining the Himalayan Ecosystem.
Minister of state for environment and forests, Jairam Ramesh, said that there were “valuable lessons in this document that need to be mainstreamed”. Since
these aspects come under the states’ purview, Ramesh said it is a working document meant to guide governments on what is to be done.
The aim is to promote “sustainable tourism through adoption of ‘best practice’ norms of eco-friendly and responsible tourism”, as stated in National
Environment Policy. It seeks to implement measures to regulate tourist flow and ensure that these remain within the carrying capacity of the ecology.
The document notes the adverse effects of expansion in urban settlements — visitors, trekkers and mountaineers have posed high biotic pressure and increased
the accumulation of solid waste on the Indian Himalayan Region (IHR). The report notes the attempts made to address these issues in some parts of IHR and
recommends they be replicated in other areas as well. Pilgrim traffic finds special attention.
The Himalayas host a number of religious/sacred sites which get millions of tourists each year. Most of these places lack adequate transport accommodation
and waste disposal facilities.
In some cases, initiatives have been taken to promote sustainable tourism. For example, the Uttarakhand government has restricted the number of tourists
visiting the origin of the Ganga to 150 per day.
Cultural identities are also under threat “by the economic, social and environmental forces associated with mountain tourism”, the report observes.
In spite of Sikkim’s efforts to place checks on tourists, tourism has grown rapidly (from nearly 15,000 tourists in 1980 to 6,00,000 in 2008 ) in the state.
The report suggests that Sikkim’s initiatives could be emulated by those interested in promoting responsible tourism
2000 STORES NATION WIDE CLOSED FOLLOWING SLOWDOWN
1 oCT 2009:
The economic slowdown has hit India's emerging breed of modern retailers hard, causing many firms, including Subhiksha, the local unit of US-based MyDollarStore Inc., and a lingerie chain from Oswal Group to shut operations altogether.
A recent Mint report showed that the so-called organized retailers, including Subhiksha, Pantaloon Retail (India) Ltd, Aditya Birla Retail Ltd, Spencer's Retail Ltd, Reliance Retail Ltd among others, have closed at least 2,000 stores nationwide in the past year. Some of them have also opened outlets in this period.
Vishal incurred losses of Rs115 crore for the last quarter of 2008-09, but managed to cut losses in the June quarter of 2009-10 to Rs90 crore.
The firm, which runs around 170 discount supermarkets nationwide, is trying to sell off inventory of about Rs630 crore through heavy discounts.
Its plans to raise about Rs200 crore through a qualified institutional placement have remained a non-starter in a tough money market. Dwindling cash flow has also seen Vishal offer shares to its vendors instead of cash as reported by Mint on 6 August.
Vshal Retail Ltd and banks hat loaned it money are in the process of going in for a corporate debt restructuring (CDR) exercise in an attempt to revive the fortunes of the cash-strapped retailer.
Vishal is the second chain after Subhiksha Trading Services Ltd to attempt such an exercise after the economic slowdown kept buyers out of shops and inflicted losses on retail businesses. In January, Subhiksha became the first retailer in India to file for a CDR exercise after it ran out of cash and shut about 1,600 stores around the country.
Vishal Retail is seeking to reschedule debt of around Rs730 crore and repay this over nine years at an interest rate of 6%.
sOURCES:mINT
The economic slowdown has hit India's emerging breed of modern retailers hard, causing many firms, including Subhiksha, the local unit of US-based MyDollarStore Inc., and a lingerie chain from Oswal Group to shut operations altogether.
A recent Mint report showed that the so-called organized retailers, including Subhiksha, Pantaloon Retail (India) Ltd, Aditya Birla Retail Ltd, Spencer's Retail Ltd, Reliance Retail Ltd among others, have closed at least 2,000 stores nationwide in the past year. Some of them have also opened outlets in this period.
Vishal incurred losses of Rs115 crore for the last quarter of 2008-09, but managed to cut losses in the June quarter of 2009-10 to Rs90 crore.
The firm, which runs around 170 discount supermarkets nationwide, is trying to sell off inventory of about Rs630 crore through heavy discounts.
Its plans to raise about Rs200 crore through a qualified institutional placement have remained a non-starter in a tough money market. Dwindling cash flow has also seen Vishal offer shares to its vendors instead of cash as reported by Mint on 6 August.
Vshal Retail Ltd and banks hat loaned it money are in the process of going in for a corporate debt restructuring (CDR) exercise in an attempt to revive the fortunes of the cash-strapped retailer.
Vishal is the second chain after Subhiksha Trading Services Ltd to attempt such an exercise after the economic slowdown kept buyers out of shops and inflicted losses on retail businesses. In January, Subhiksha became the first retailer in India to file for a CDR exercise after it ran out of cash and shut about 1,600 stores around the country.
Vishal Retail is seeking to reschedule debt of around Rs730 crore and repay this over nine years at an interest rate of 6%.
sOURCES:mINT
Wednesday, September 30, 2009
Tips on eco-tourism: from Singapore to Sikkim
FROM THE TELEGRAPH
BY AVIJIT SINHA
30 sept 2009
Youths playing ethnic musical instruments to entertain tourists in the area where the eco-tourism training centre will come up. Telegraph picture
Siliguri, Sept. 29: In a first-of-its-kind initiative by tour agencies of the region, a training of unemployed youths in eco-tourism ventures will begin high in the mountains of Sikkim in December.
Help Tourism, a Siliguri-based tour operator, and Hee Bermiok Tourism Development and Heritage Conservation Society have tied up with Jet Airways and the Singapore Scout Association to open the centre at Hee Bermiok in West Sikkim.
“The aim is to train the youths of Mangalbari, Kaluk, Rinchenpong, Hee Bermiok, Dentam and Uttaray, all in West Sikkim, on eco-adventure tourism in the region,” said Raj Basu, associated with Help Tourism and the conservation society. “The centre will be run by the Singapore-based organisation which will train the local youths on a long-term basis so that they can be part of a participatory model of the venture. The youths can also work for sustainable development in the area keeping in mind the conservation of nature.”
Gopal Lama, the deputy director of the state tourism department, north Bengal, appreciated the initiative to train unemployed youths. “It is a first-of-its kind effort,” he said.
Hee Bermiok, on the fringes of Barshey Rhododendron Sanctuary in West Sikkim, is over 150km away from Siliguri. The hamlet located in the idyllic surroundings and has potential to be developed as a centre for adventure sports like mountain biking and cycling, trekking and camping.
“We want the pristine natural surroundings of the area to be protected for which it is important for the local people to know the pros and cons of eco-tourism and eco-friendly development,” Basu said.
The conservation society will provide land for the centre while the scout association will raise funds for it. “The Singapore body will also send volunteers to execute the project. A delegation from Singapore has visited the area early this month and another team of 12 volunteers from Singapore will reach Hee Bermiok on December 1 and stay there for a fortnight ,” Basu said.
The Singapore team that visited the site this month included Gerry Oh, the regional vice-president of Jet Airways (southeast Asia), Tan Si Jie, an expert on environmental conservation, Patrick Tan, a photographer, and Christopher Khoo, a tourism consultant.
“They interacted with the local people on training, skill development, followed by promotion of tourism and conservation of nature,” Basu said. “The response was good and they have agreed to go ahead with the project, supported by the Changi Airport Group and India Tourism office of Singapore.”
During the visit, the team members also went to Kolakham village located on the fringes of Neora Valley National Park in Kalimpong subdivision.
“We want two model centres to be developed in Darjeeling and Sikkim. Kolakham is also ideal for a centre for eco and adventure tourism. These will complement the initiatives of the state and central governments to promote tourism in the region and can also contribute in employment generation,” Basu said. “Neora Valley is equally attractive like Barshey and houses the red panda and tiger.”
FROM THE TELEGRAPH
BY AVIJIT SINHA
30 sept 2009
Youths playing ethnic musical instruments to entertain tourists in the area where the eco-tourism training centre will come up. Telegraph picture
Siliguri, Sept. 29: In a first-of-its-kind initiative by tour agencies of the region, a training of unemployed youths in eco-tourism ventures will begin high in the mountains of Sikkim in December.
Help Tourism, a Siliguri-based tour operator, and Hee Bermiok Tourism Development and Heritage Conservation Society have tied up with Jet Airways and the Singapore Scout Association to open the centre at Hee Bermiok in West Sikkim.
“The aim is to train the youths of Mangalbari, Kaluk, Rinchenpong, Hee Bermiok, Dentam and Uttaray, all in West Sikkim, on eco-adventure tourism in the region,” said Raj Basu, associated with Help Tourism and the conservation society. “The centre will be run by the Singapore-based organisation which will train the local youths on a long-term basis so that they can be part of a participatory model of the venture. The youths can also work for sustainable development in the area keeping in mind the conservation of nature.”
Gopal Lama, the deputy director of the state tourism department, north Bengal, appreciated the initiative to train unemployed youths. “It is a first-of-its kind effort,” he said.
Hee Bermiok, on the fringes of Barshey Rhododendron Sanctuary in West Sikkim, is over 150km away from Siliguri. The hamlet located in the idyllic surroundings and has potential to be developed as a centre for adventure sports like mountain biking and cycling, trekking and camping.
“We want the pristine natural surroundings of the area to be protected for which it is important for the local people to know the pros and cons of eco-tourism and eco-friendly development,” Basu said.
The conservation society will provide land for the centre while the scout association will raise funds for it. “The Singapore body will also send volunteers to execute the project. A delegation from Singapore has visited the area early this month and another team of 12 volunteers from Singapore will reach Hee Bermiok on December 1 and stay there for a fortnight ,” Basu said.
The Singapore team that visited the site this month included Gerry Oh, the regional vice-president of Jet Airways (southeast Asia), Tan Si Jie, an expert on environmental conservation, Patrick Tan, a photographer, and Christopher Khoo, a tourism consultant.
“They interacted with the local people on training, skill development, followed by promotion of tourism and conservation of nature,” Basu said. “The response was good and they have agreed to go ahead with the project, supported by the Changi Airport Group and India Tourism office of Singapore.”
During the visit, the team members also went to Kolakham village located on the fringes of Neora Valley National Park in Kalimpong subdivision.
“We want two model centres to be developed in Darjeeling and Sikkim. Kolakham is also ideal for a centre for eco and adventure tourism. These will complement the initiatives of the state and central governments to promote tourism in the region and can also contribute in employment generation,” Basu said. “Neora Valley is equally attractive like Barshey and houses the red panda and tiger.”
Community Radio Station to Start at Gurgaon, Haryana
30 sept 2009 11:51 IST
Ministry of Information & Broadcasting, Government of India has signed a Grant of Permission Agreement with The Restoring Force (TRF) a Gurgaon based voluntary organization. TRF would establish, maintain and operate a Community Radio Station at Gurgaon, Haryana. Letter of Intent had been issued to the organization after recommendations of Inter Ministerial Committee and seeking requisite clearances from various Ministries. The Community Radio Station is expected to be operational within three months as per the agreement. With this, the number of CRS will increase to 55 in the country.
The Restoring Force (TRF) intends to work all over the country, primarily in the field of education. The focus of TRF is to provide clean & healthy environment at schools along with basic facilities to improve the quality of education by modern means of learning and to grant relief and assistance to the needy during natural calamities such as famine, earthquake, flood, fire, persistence, etc and to give donations and other assistance to institutions, establishment or persons engaged in such relief work.
The Ministry encourages setting up of the Community Radio Stations as it promises to provide an opportunity to the local communities to express themselves, share their views and particularly empowerment of women, youth marginalized groups to take part in local self governance and overall socio economic and cultural development in the area. The CRS programs will be based on developmental, agricultural, health, educational, environmental, social welfare, community development issues and other cultural programs.
*********
30 sept 2009 11:51 IST
Ministry of Information & Broadcasting, Government of India has signed a Grant of Permission Agreement with The Restoring Force (TRF) a Gurgaon based voluntary organization. TRF would establish, maintain and operate a Community Radio Station at Gurgaon, Haryana. Letter of Intent had been issued to the organization after recommendations of Inter Ministerial Committee and seeking requisite clearances from various Ministries. The Community Radio Station is expected to be operational within three months as per the agreement. With this, the number of CRS will increase to 55 in the country.
The Restoring Force (TRF) intends to work all over the country, primarily in the field of education. The focus of TRF is to provide clean & healthy environment at schools along with basic facilities to improve the quality of education by modern means of learning and to grant relief and assistance to the needy during natural calamities such as famine, earthquake, flood, fire, persistence, etc and to give donations and other assistance to institutions, establishment or persons engaged in such relief work.
The Ministry encourages setting up of the Community Radio Stations as it promises to provide an opportunity to the local communities to express themselves, share their views and particularly empowerment of women, youth marginalized groups to take part in local self governance and overall socio economic and cultural development in the area. The CRS programs will be based on developmental, agricultural, health, educational, environmental, social welfare, community development issues and other cultural programs.
*********
Gifts of property (gifts-in-kind) above value of Rs.50,000 become taxable from 1st October 2009
30 Sept 2009
16:14 IST
The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs.50,000 (rupees fifty thousand), will become taxable in the hands of the donee, being an individual or a Hindu Undivided Family (HUF), as income from other sources under clause (vii) of sub-section 2 of section 56 of the Act. Therefore, any such person who receives a gift of any such property on or after 1st October 2009 must pay the income tax due on the value of the gift and disclose the taxable value of such property in the return of income for assessment year 2010-11 and subsequent years.
The following types of gifts will, however, not be subject to tax, i.e. gifts (a) from a person who is a relative; (b) on the occasion of marriage of the individual; (c) under a will or by way of inheritance; (d) in contemplation of death of the donor; (e) from any local authority as defined in the Explanation to section 10(20) of the Act; (f) from any fund or trust established under section 10(23C) of the Act; (g) from any trust or institution registered under section 12AA of the Act.
Relative is defined in the Act as (i) spouse; (ii) brother or sister; (iii) brother or sister of the spouse; (iv) brother or sister of either of the parents; (v) any lineal ascendant or descendant; (vi) spouse of any of the relative at clauses (ii) to (v); of the individual. Gifts received from these relatives will not be subject to tax.
Earlier cash gifts exceeding Rs.25,000 were subject to tax with effect from 1st April 2004. Later the Act was amended with effect from 1st April 2006 to tax all cash gifts having aggregate value exceeding Rs.50,000. Cash gifts also enjoy exemptions as is available for gifts-in-kind.
30 Sept 2009
16:14 IST
The Income Tax Act 1961 (the Act) has been amended with effect from 1st October 2009 to provide that any gift-in-kind, being an immovable property or any other property, the value of which exceeds Rs.50,000 (rupees fifty thousand), will become taxable in the hands of the donee, being an individual or a Hindu Undivided Family (HUF), as income from other sources under clause (vii) of sub-section 2 of section 56 of the Act. Therefore, any such person who receives a gift of any such property on or after 1st October 2009 must pay the income tax due on the value of the gift and disclose the taxable value of such property in the return of income for assessment year 2010-11 and subsequent years.
The following types of gifts will, however, not be subject to tax, i.e. gifts (a) from a person who is a relative; (b) on the occasion of marriage of the individual; (c) under a will or by way of inheritance; (d) in contemplation of death of the donor; (e) from any local authority as defined in the Explanation to section 10(20) of the Act; (f) from any fund or trust established under section 10(23C) of the Act; (g) from any trust or institution registered under section 12AA of the Act.
Relative is defined in the Act as (i) spouse; (ii) brother or sister; (iii) brother or sister of the spouse; (iv) brother or sister of either of the parents; (v) any lineal ascendant or descendant; (vi) spouse of any of the relative at clauses (ii) to (v); of the individual. Gifts received from these relatives will not be subject to tax.
Earlier cash gifts exceeding Rs.25,000 were subject to tax with effect from 1st April 2004. Later the Act was amended with effect from 1st April 2006 to tax all cash gifts having aggregate value exceeding Rs.50,000. Cash gifts also enjoy exemptions as is available for gifts-in-kind.
New Website of Environment & Forest Ministry Launched
29 SEPT 2009
Environment and Forests Minister, Shri Jai Ram Ramesh launched his Ministry’s New Website to create awareness among the people about the environment and wild life. This is part of a continuous and ongoing process to make it more transparent and citizen-friendly. The Website has been redesigned after a lengthy consultation process involving a number of prominent civil society groups, key user groups and other stakeholders. An effort has been made to take all their suggestions on board in the development of the new website, the Minister added.
The governing principle in this redesign has been to provide users with ready access to relevant information. To this end the interface has been imbued with user friendly. In an attempt to draw more visitors to the website, a number of progressive features have been included such as videos, pictures and a blog by the Minister him self. The website is simultaneously a platform for the Ministry to provide the world with a window to its functioning and to receive feedback on its working.
The new website is available at http://moef.gov.in/
*****
29 SEPT 2009
Environment and Forests Minister, Shri Jai Ram Ramesh launched his Ministry’s New Website to create awareness among the people about the environment and wild life. This is part of a continuous and ongoing process to make it more transparent and citizen-friendly. The Website has been redesigned after a lengthy consultation process involving a number of prominent civil society groups, key user groups and other stakeholders. An effort has been made to take all their suggestions on board in the development of the new website, the Minister added.
The governing principle in this redesign has been to provide users with ready access to relevant information. To this end the interface has been imbued with user friendly. In an attempt to draw more visitors to the website, a number of progressive features have been included such as videos, pictures and a blog by the Minister him self. The website is simultaneously a platform for the Ministry to provide the world with a window to its functioning and to receive feedback on its working.
The new website is available at http://moef.gov.in/
*****
HOOKER VISIT TO SIKKIM IN 1848
In 1846, Joseph Dalton Hooker a botanist, biogeographer and traveler obtained a government grant for the trip to India. And as fate would have it, he was granted free passage on the ships taking Lord Dalhousie, the newly-appointed Governor General, to India.
After visiting Calcutta, Hooker came to Darjeeling where he met Brian Houghton Hodgson, an expert on Nepąlese culture, Buddhism and collector of Sam.skr.ta manuscripts who was also a passionate naturalist. The two became close friends and Hodgson helped Hooker prepare for his trip into the Himalaya. However, by the time Hooker was ready to set off for Sikkim in 1848, Hodgson was taken ill and hence could not accompany him. Dr. Archibald Campbell, a British government agent, went instead.
Sikkim, a small and impoverished state, was then bordered by Tibet, Nepal and Bhutan, as well as British India. Its King was understandably anxious not to annoy any of his powerful neighbours so he and his chief minister, the Dewan, were particularly suspicious of travelers like Hooker who surveyed and made maps during their travels . When Hooker first sought permission to enter Sikkim, the Dewan made considerable efforts to prevent him, and even after pressure from the British administration forced the Dewan to submit, he obstructed their progress in various ways.
He particularly urged them not to cross the northern border with Tibet during their explorations, but Hooker and Campbell knowingly ignored his order and the border violation was used by the Dewan as a pretext to arrest and imprison them in November 1849. The British government secured their release within weeks by threatening to invade Sikkim. The elderly King was punished with the annexation of some of his land and the withdrawal of his British pension; a response that even some of the British thought excessive.
Following his release, Hooker spent 1850 traveling with Thomas Thomson in Eastern Bengal and the two returned to England in 1851.
sOURCE: bARUN rOY
After visiting Calcutta, Hooker came to Darjeeling where he met Brian Houghton Hodgson, an expert on Nepąlese culture, Buddhism and collector of Sam.skr.ta manuscripts who was also a passionate naturalist. The two became close friends and Hodgson helped Hooker prepare for his trip into the Himalaya. However, by the time Hooker was ready to set off for Sikkim in 1848, Hodgson was taken ill and hence could not accompany him. Dr. Archibald Campbell, a British government agent, went instead.
Sikkim, a small and impoverished state, was then bordered by Tibet, Nepal and Bhutan, as well as British India. Its King was understandably anxious not to annoy any of his powerful neighbours so he and his chief minister, the Dewan, were particularly suspicious of travelers like Hooker who surveyed and made maps during their travels . When Hooker first sought permission to enter Sikkim, the Dewan made considerable efforts to prevent him, and even after pressure from the British administration forced the Dewan to submit, he obstructed their progress in various ways.
He particularly urged them not to cross the northern border with Tibet during their explorations, but Hooker and Campbell knowingly ignored his order and the border violation was used by the Dewan as a pretext to arrest and imprison them in November 1849. The British government secured their release within weeks by threatening to invade Sikkim. The elderly King was punished with the annexation of some of his land and the withdrawal of his British pension; a response that even some of the British thought excessive.
Following his release, Hooker spent 1850 traveling with Thomas Thomson in Eastern Bengal and the two returned to England in 1851.
sOURCE: bARUN rOY
QUOTES
There is only ONE thing to remember, the mantra/battle cry of the Federal Reserve and all central banks is “INFLATE OR DIE”.
“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth”. - Vladimir Lenin
“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose”. – Maynard Keynes
“The best way to destroy the capitalist system is to debauch the currency. By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some. The sight of this arbitrary rearrangement of riches strikes not only at security but [also] at confidence in the equity of the existing distribution of wealth”. - Vladimir Lenin
“There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose”. – Maynard Keynes
Tuesday, September 29, 2009
GREENKO BUYS SIKKIM HYDRO PROJECT
Energy producer Greenko buys Indian hydro project
Sep 28, 2009 9:35am EDT
LONDON (Reuters) - Clean energy producer Greenko Group said it agreed to buy a license for a 96 megawatt hydro project in Sikkim, India to boost its production capacity.
The Sikkim project will cost about 105 million euros ($154 million) to build, take four years to complete, and is part of the group's expansion plan, said Chief Executive Anil Chalamalasetty.
"The project is in an advanced stage of development with necessary permits in place and land acquired in a region of proven hydrological data," Chalamalasetty said.
Greenko expects to obtain debt to fund 70 percent of the Sikkim project cost within three to six months.
It said it is in advanced stages of negotiation over similar assets.
The company also announced on Monday that pretax profit for the year to end March rose to 3.2 million euros from 2.8 million euros the year earlier as sales climbed 6 percent.
Greenko, founded in 2006 to develop, own and operate projects in Asia, said it secured production capacity of 255.5 MW at the year end and aims to increase that to 1,000 MW by the end of its financial year 2014.
Greenko's shares were up 8.2 percent at 79 pence at 0825 GMT.
(Reporting by Sharon Lindores; Editing by Julie Crust)
($1=.6810 Euro)
Sep 28, 2009 9:35am EDT
LONDON (Reuters) - Clean energy producer Greenko Group said it agreed to buy a license for a 96 megawatt hydro project in Sikkim, India to boost its production capacity.
The Sikkim project will cost about 105 million euros ($154 million) to build, take four years to complete, and is part of the group's expansion plan, said Chief Executive Anil Chalamalasetty.
"The project is in an advanced stage of development with necessary permits in place and land acquired in a region of proven hydrological data," Chalamalasetty said.
Greenko expects to obtain debt to fund 70 percent of the Sikkim project cost within three to six months.
It said it is in advanced stages of negotiation over similar assets.
The company also announced on Monday that pretax profit for the year to end March rose to 3.2 million euros from 2.8 million euros the year earlier as sales climbed 6 percent.
Greenko, founded in 2006 to develop, own and operate projects in Asia, said it secured production capacity of 255.5 MW at the year end and aims to increase that to 1,000 MW by the end of its financial year 2014.
Greenko's shares were up 8.2 percent at 79 pence at 0825 GMT.
(Reporting by Sharon Lindores; Editing by Julie Crust)
($1=.6810 Euro)
Monday, September 28, 2009
Does it make sense to buy or sell gold in current market?
28 Sept 2009
Renowned for its reputation as a safe haven, the yellow metal is nowadays giving sleepless nights to its prospective buyers and sellers. The problem is its valuation. While buyers don’t know what is the right price to buy, sellers are equally confused — unsure at what price should they let go of this precious metal. Gold prices are hovering around Rs 16,000 per 10 grams these days, up more than 30% from last year.
The shining metal’s historical correlation’s with oil and equity is showing strains in the short run, raising fears of a bubble building in this commodity. Industry body Assocham predicts that gold prices may climb up to Rs 18,000 per 10 gm in the festive season, on back of strong demand and low international production.
What the future holds for gold prices only time will tell, but here’s our take on this alternative asset class — does it make sense to buy or sell in the current market.
FIRST THINGS FIRST
Gold prices like any other commodities are decided by the demand-supply scale. While demand comes from fabrication, supply is driven from mining and scrap sale. Since India is an importer of gold, price is arrived at by converting the international gold price at prevailing foreign exchange rate to the Indian rupee and then adding the necessary duties and taxes such as customs, octroi, sales tax to it.
London Bullion Market Association releases gold prices twice a day (4 pm and 8.30 pm), which is usually used as a reference price. Jewellers further add a retail premium to this calculation to arrive at the retail price. That’s the reason why the US dollar price of gold in international markets and the currency conversion rate to the Indian rupee has the maximum influence on the retail gold prices in India.
Apart from the spot market, gold is also traded in form of futures, options and exchange traded funds. In India, Multi Commodity Exchange of India (MCX) and National Commodity and Derivative (NCDEX) offer gold futures and option contracts. India is the biggest consumer for gold especially in the form of jewellery.
PORTFOLIO INSURANCE
Even though this precious metal stands an uncertain course of action, personal finance experts say gold can still be a part of any investor’s portfolio as its ability to act as a portfolio diversification tool cannot be discounted. “It reduces the portfolio risk. In 2008, when Sensex was down more than 50%, it was gold that helped investors absorb shocks coming out of the equity markets. During that period, gold prices went up by almost 30%,” says Devendra Nevgi, an independent investment expert and former CEO of Quantum AMC.
What could make gold scale new highs in the coming months is the likely weakening of the US Dollar due to record budget deficits, rising public debts, relentless money printing by Federal Reserve and rising inflationary expectations. Gold, a traditional inflation hedge, has a very high negative correlation with the US Dollar. The demand supply matrix also remains tight and marginally surplus demand could lead prices to soar.
“If even 1% of US or Chinese household assets move into gold, the price will go through the roof,” says Nevgi. Other analysts too support the view. They say low interest rates in major currencies support the yellow metal as an alternative investment. “The rise in gold price is part of a bubble. However, this bubble could further intensify if liquidity continues to remain high in the market,” says Dharmesh Bhatia, technical analyst at Kotak Commodity Services. Analysts expect gold prices to move north above Rs 18,000 in the mid to long term.
TOO HOT
Gold may be prospering as an investment destination, but there also exist a section of analysts who feel that getting too near to this metal at this stage can also burn fingers. In case there is a sharp appreciation of Indian rupee vis-a-vis US Dollar, this could negate all the benefits of US Dollar price rise of gold in international markets. Also, if the real jewellery demand does not recover and scrap sales rise significantly, this can trigger a correction in the prices.
Interestingly, central banks globally also do their bit to cut the flab in gold prices. “Since it’s a proxy currency competing with the paper currency, these banks historically haven’t enjoyed a rise in price of gold and tried to defuse the upsurge by intervention,” says Nevgi.
According to him, gold is unlikely to move into the so called bubble territory. The rationale is in an asset bubble, there are abnormally high returns fuelled by excessive speculation, which is not evident as of now in this glittering metal. “Since 1975, gold in US Dollar has returned less than 5%, whereas the US stock markets have delivered (till 2008) almost twice the returns gold has delivered,” points out Nevgi.
As the case is, historical correlation often breaks down in the short run, especially in an abnormal situation of excess liquidity. Gold may shine bright or lose lustre in the coming days, yet its reputation as a safe-haven asset cannot be challenged in the long run, at least as of now.
28 Sept 2009
Renowned for its reputation as a safe haven, the yellow metal is nowadays giving sleepless nights to its prospective buyers and sellers. The problem is its valuation. While buyers don’t know what is the right price to buy, sellers are equally confused — unsure at what price should they let go of this precious metal. Gold prices are hovering around Rs 16,000 per 10 grams these days, up more than 30% from last year.
The shining metal’s historical correlation’s with oil and equity is showing strains in the short run, raising fears of a bubble building in this commodity. Industry body Assocham predicts that gold prices may climb up to Rs 18,000 per 10 gm in the festive season, on back of strong demand and low international production.
What the future holds for gold prices only time will tell, but here’s our take on this alternative asset class — does it make sense to buy or sell in the current market.
FIRST THINGS FIRST
Gold prices like any other commodities are decided by the demand-supply scale. While demand comes from fabrication, supply is driven from mining and scrap sale. Since India is an importer of gold, price is arrived at by converting the international gold price at prevailing foreign exchange rate to the Indian rupee and then adding the necessary duties and taxes such as customs, octroi, sales tax to it.
London Bullion Market Association releases gold prices twice a day (4 pm and 8.30 pm), which is usually used as a reference price. Jewellers further add a retail premium to this calculation to arrive at the retail price. That’s the reason why the US dollar price of gold in international markets and the currency conversion rate to the Indian rupee has the maximum influence on the retail gold prices in India.
Apart from the spot market, gold is also traded in form of futures, options and exchange traded funds. In India, Multi Commodity Exchange of India (MCX) and National Commodity and Derivative (NCDEX) offer gold futures and option contracts. India is the biggest consumer for gold especially in the form of jewellery.
PORTFOLIO INSURANCE
Even though this precious metal stands an uncertain course of action, personal finance experts say gold can still be a part of any investor’s portfolio as its ability to act as a portfolio diversification tool cannot be discounted. “It reduces the portfolio risk. In 2008, when Sensex was down more than 50%, it was gold that helped investors absorb shocks coming out of the equity markets. During that period, gold prices went up by almost 30%,” says Devendra Nevgi, an independent investment expert and former CEO of Quantum AMC.
What could make gold scale new highs in the coming months is the likely weakening of the US Dollar due to record budget deficits, rising public debts, relentless money printing by Federal Reserve and rising inflationary expectations. Gold, a traditional inflation hedge, has a very high negative correlation with the US Dollar. The demand supply matrix also remains tight and marginally surplus demand could lead prices to soar.
“If even 1% of US or Chinese household assets move into gold, the price will go through the roof,” says Nevgi. Other analysts too support the view. They say low interest rates in major currencies support the yellow metal as an alternative investment. “The rise in gold price is part of a bubble. However, this bubble could further intensify if liquidity continues to remain high in the market,” says Dharmesh Bhatia, technical analyst at Kotak Commodity Services. Analysts expect gold prices to move north above Rs 18,000 in the mid to long term.
TOO HOT
Gold may be prospering as an investment destination, but there also exist a section of analysts who feel that getting too near to this metal at this stage can also burn fingers. In case there is a sharp appreciation of Indian rupee vis-a-vis US Dollar, this could negate all the benefits of US Dollar price rise of gold in international markets. Also, if the real jewellery demand does not recover and scrap sales rise significantly, this can trigger a correction in the prices.
Interestingly, central banks globally also do their bit to cut the flab in gold prices. “Since it’s a proxy currency competing with the paper currency, these banks historically haven’t enjoyed a rise in price of gold and tried to defuse the upsurge by intervention,” says Nevgi.
According to him, gold is unlikely to move into the so called bubble territory. The rationale is in an asset bubble, there are abnormally high returns fuelled by excessive speculation, which is not evident as of now in this glittering metal. “Since 1975, gold in US Dollar has returned less than 5%, whereas the US stock markets have delivered (till 2008) almost twice the returns gold has delivered,” points out Nevgi.
As the case is, historical correlation often breaks down in the short run, especially in an abnormal situation of excess liquidity. Gold may shine bright or lose lustre in the coming days, yet its reputation as a safe-haven asset cannot be challenged in the long run, at least as of now.
HOW TO OVERCOME AND PREVENT NEGATIVES FROM MANIFESTING?
by Swami Avdhutananda, ex acharya- chinmaya mission sikkim
The only way we can overcome negative thoughts, feelings and emotions such as anger, selfishness, jealousy etc. is by increasing our awareness level and analysing the root cause or source from where these negatives manifest. If the effect is there, there has to be a cause. Once the cause is known it can be eliminated. With the elimination of cause the effect ceases to exist.
For example, when anger rises within us, the moment we become aware of it, it loses its sting, its power. What do we need to do immediately after that? When anger is welling up within, the moment one becomes aware of it one should leave the place and be alone or with someone with a good sense of humour. Laughing activates positive emotions in the brain. It is an expression of pure deliverance and total tension release. Laughing induces good mood and that in turn engenders hearty and intense laughter. Look in the mirror and observe the contortions on the face resulting from anger. Practise deep breathing exercises at such time. Observe the anger in mind as a witness. Do japa in vaikhari vaani. Meditate on the emotion of anger. Drink a glass or two of cold water.
Now we go into the analysis. What is anger? Anger is defined as an intense attachment for an object when expressed towards an obstacle that comes between us and our object of attachment. It is also defined as revenge taken on ourselves by us for somebody else's mistakes, since it is our temperature and blood pressure that rises, it is our body that shakes and our eyes that become blood-shot. Anger also slows down the healing process in case of wounds, injuries and surgeries. So it is always beneficial to maintain tranquility.
Further, this anger arose because of our attachment to some thing or being. When we analyse our attachment itself we realise that this attachment was due to the false sense of security or a false notion that it gives us some kind of joy, pleasure or benefits us in some way. It is nothing but illusions projected by the deluded mind on things and beings of the world. Nothing from the finite world can ever give us what we really seek and that is eternal, infinite bliss. At the most the world can give us only ephemeral pleasure which is invariably followed by pain. We also realise through analysis that only those things and beings whom we have given some value invoke negative emotions and feelings. We cannot be jealous of something for which we have given zero value. The entire manifest world is impermanent and constantly subject to change. So it is foolhardy to give any value to the world. To the extent we start giving zero value to the world to that extent it ceases to affect us and invoke negatives in us.
Now how to increase our awareness level? The only way we can increase our awareness level is by living 100% in the present moment. Whatever activity we are engaged in at any moment we need to be intensely aware of it without allowing the mind to wander into the past or the future. Constant practice of living in the present moment will result in higher levels of awareness. Errors happen in ignorance not in awareness.
by Swami Avdhutananda, ex acharya- chinmaya mission sikkim
The only way we can overcome negative thoughts, feelings and emotions such as anger, selfishness, jealousy etc. is by increasing our awareness level and analysing the root cause or source from where these negatives manifest. If the effect is there, there has to be a cause. Once the cause is known it can be eliminated. With the elimination of cause the effect ceases to exist.
For example, when anger rises within us, the moment we become aware of it, it loses its sting, its power. What do we need to do immediately after that? When anger is welling up within, the moment one becomes aware of it one should leave the place and be alone or with someone with a good sense of humour. Laughing activates positive emotions in the brain. It is an expression of pure deliverance and total tension release. Laughing induces good mood and that in turn engenders hearty and intense laughter. Look in the mirror and observe the contortions on the face resulting from anger. Practise deep breathing exercises at such time. Observe the anger in mind as a witness. Do japa in vaikhari vaani. Meditate on the emotion of anger. Drink a glass or two of cold water.
Now we go into the analysis. What is anger? Anger is defined as an intense attachment for an object when expressed towards an obstacle that comes between us and our object of attachment. It is also defined as revenge taken on ourselves by us for somebody else's mistakes, since it is our temperature and blood pressure that rises, it is our body that shakes and our eyes that become blood-shot. Anger also slows down the healing process in case of wounds, injuries and surgeries. So it is always beneficial to maintain tranquility.
Further, this anger arose because of our attachment to some thing or being. When we analyse our attachment itself we realise that this attachment was due to the false sense of security or a false notion that it gives us some kind of joy, pleasure or benefits us in some way. It is nothing but illusions projected by the deluded mind on things and beings of the world. Nothing from the finite world can ever give us what we really seek and that is eternal, infinite bliss. At the most the world can give us only ephemeral pleasure which is invariably followed by pain. We also realise through analysis that only those things and beings whom we have given some value invoke negative emotions and feelings. We cannot be jealous of something for which we have given zero value. The entire manifest world is impermanent and constantly subject to change. So it is foolhardy to give any value to the world. To the extent we start giving zero value to the world to that extent it ceases to affect us and invoke negatives in us.
Now how to increase our awareness level? The only way we can increase our awareness level is by living 100% in the present moment. Whatever activity we are engaged in at any moment we need to be intensely aware of it without allowing the mind to wander into the past or the future. Constant practice of living in the present moment will result in higher levels of awareness. Errors happen in ignorance not in awareness.
PROJECT-SNACK AND BREAKFAST FOODS
Technology of the Month
Low cost collet extrusion for expanded/puffed snacks
Snack foods now comprise an important part of the daily nutrient and calorie intake of manyconsumers. Expanded products like snacks and breakfast cereals are very popular todaybecause of their crunchy texture, which arises from the honeycomb structure imparted to thematerial during extrusion. At CIPHET, an extrusion facility with range of extruders has beenestablished during last 3 years. In particular a collet extruder of small capacity (25-35 kg/h)shows a very promising feature for the production of low cost protein enriched ready-to-eatexpanded snacks. This heavy-duty low cost collet extruder, driven by 10 hp AC motor andfeed rate is controlled with a 1 hp DC motor. The length to diameter (L/D) ratio of extruderwas 5:1. The barrel is enrobed with cold/ tap water circulation to maintain the temperature.
For the development of ready-to-eat snack foods, screw speed (500 rev/min), feed rate (25kg/h) and feed moisture(14%, wb), feed particle size (1.65-2.36 mm) were
found optimum and kept constant for different protein enriched extruded snack foods. It is attached with a cutter (1 hp DC motor). The feed of required particle size with predetermined formulation can be fed through feeder,which can be regulated by
screw auger. The expanded products of 14-20 mm axial diameter can be produced.
The investigation was carried out at CIPHET with this low cost collet extruder for the continuous production of protein enriched expanded snacks at optimum extrusion condition and different legumes incorporations (black gram, green gram, lentil and peas) on selected cereals and coarse cereal grit. It was found that this is suitable to process and produce legume blended cereals and coarse cereals expanded snack foods and instant flour with low moisture (<14%, wb) and low lipid content. Extrudate flour which are partially dextrinised and gelatinized during the treatment, yielding instant flour showed the scope for preparation of
higher energy density gruels. The lower viscosity profile of extrudate flour as compared to its raw composite flour and higher nutritional and sensory values expressed the usefulness and possibility of product development, especially high quality diet and weaning foods at competitive prices, which can dramatically transform the Indian cereal industry. This food extrusion facility costs about Rs. 2.0 Lakhs. This can be easily adopted by the small and cottage level entrepreneur for the production of Ready-To-Eat snacks and similar products.
This production is highly profitable (about Rs. 14/kg of product). This technology facilitates use of low cost rice and wheat brokens to be converted into high value ready to eat snack foods at rural catchments. At CIPHET we offer one week training programme for upcoming entrepreneurs on this technology for establishing rural enterprises.
Low cost collet extrusion for expanded/puffed snacks
Snack foods now comprise an important part of the daily nutrient and calorie intake of manyconsumers. Expanded products like snacks and breakfast cereals are very popular todaybecause of their crunchy texture, which arises from the honeycomb structure imparted to thematerial during extrusion. At CIPHET, an extrusion facility with range of extruders has beenestablished during last 3 years. In particular a collet extruder of small capacity (25-35 kg/h)shows a very promising feature for the production of low cost protein enriched ready-to-eatexpanded snacks. This heavy-duty low cost collet extruder, driven by 10 hp AC motor andfeed rate is controlled with a 1 hp DC motor. The length to diameter (L/D) ratio of extruderwas 5:1. The barrel is enrobed with cold/ tap water circulation to maintain the temperature.
For the development of ready-to-eat snack foods, screw speed (500 rev/min), feed rate (25kg/h) and feed moisture(14%, wb), feed particle size (1.65-2.36 mm) were
found optimum and kept constant for different protein enriched extruded snack foods. It is attached with a cutter (1 hp DC motor). The feed of required particle size with predetermined formulation can be fed through feeder,which can be regulated by
screw auger. The expanded products of 14-20 mm axial diameter can be produced.
The investigation was carried out at CIPHET with this low cost collet extruder for the continuous production of protein enriched expanded snacks at optimum extrusion condition and different legumes incorporations (black gram, green gram, lentil and peas) on selected cereals and coarse cereal grit. It was found that this is suitable to process and produce legume blended cereals and coarse cereals expanded snack foods and instant flour with low moisture (<14%, wb) and low lipid content. Extrudate flour which are partially dextrinised and gelatinized during the treatment, yielding instant flour showed the scope for preparation of
higher energy density gruels. The lower viscosity profile of extrudate flour as compared to its raw composite flour and higher nutritional and sensory values expressed the usefulness and possibility of product development, especially high quality diet and weaning foods at competitive prices, which can dramatically transform the Indian cereal industry. This food extrusion facility costs about Rs. 2.0 Lakhs. This can be easily adopted by the small and cottage level entrepreneur for the production of Ready-To-Eat snacks and similar products.
This production is highly profitable (about Rs. 14/kg of product). This technology facilitates use of low cost rice and wheat brokens to be converted into high value ready to eat snack foods at rural catchments. At CIPHET we offer one week training programme for upcoming entrepreneurs on this technology for establishing rural enterprises.
Sunday, September 27, 2009
FULL SPEECH OF INDIAN PM AT G-20
Full Text of PM’s Remarks at the G-20 Meeting at Pittsburgh: Plenary Session
--------------------------------------------------------------------------------
26th Sept 2009
Following is the text of the Prime Minister, Dr. Manmohan Singh’s remarks at the Plenary Session of G-20 Meeting at Pittsburgh:
"Mr. President, let me begin by thanking you for the excellent arrangements made for this Summit and for your warm hospitality.
We have discussed the complex challenges posed by the need to revive the global economy. I would like to focus on what this implies for the developing countries.
We all know that these countries were in no way responsible for the crisis, but in many ways, they are the hardest hit. In the seven years before the crisis, the GDP of the developing countries grew at an average of 6.5 per cent per year. In 2009 it will grow by only 1.5 per cent, implying a fall in real per capita income.
Of course, experience varies across countries. Countries in Asia have generally fared much better. Countries in sub-Saharan Africa and in many other regions have been very badly hit.
India too has been affected but, in common with other Asian countries, we have weathered the crisis relatively well given the circumstances. After growing at 9 per cent per year for four years our economy slowed down to 6.7 per cent in 2008-09. In 2009, despite a drought, which will affect agricultural production, we expect to grow by around 6.3 per cent in 2009-10 and then recover to 7 to 7.5 percent growth next year. This relatively strong performance is partly due to the strong stimulus measures introduced in the second half of 2008-09, which have been continued in the current financial year.
However, the fact that some of us have fared relatively well does not mean that the crisis has not affected the developing world significantly. The fact that the growth of developing countries as a group will fall to 1.5 per cent indicates the extent of the impact.
An estimated 90 million people in the developing world are likely to be pushed below the poverty line. Lower revenues will also lead to lower levels of expenditure on rural infrastructure, health and education. This will not only hurt future growth, but also delay achievement of the Millennium Development Goals. Social and political tensions could increase, undermining the national consensus in support of much needed structural reforms and adjustment.
The prospects of convergence, which seemed bright before the crisis, have receded. We must take steps to counter these developments and restore the momentum of growth in the developing world.
First, the problem must be tackled at its root by ensuring the quickest possible return to normalcy in the global economy. This requires a commitment that we will not undertake any premature withdrawal of stimulus. We must certainly plan for an orderly “exit” when the time is right, but that time is not now. The global economy may be bottoming out, but it is not expected to reach 3% growth until the end of 2010.
The depressed state of the global economy translates into a considerable loss of export demand for the developing countries. Exports of non-oil developing countries are expected to decline by about $900 billion in 2009, compared to the previous year. They will remain well below the trajectory earlier projected for several years. This is bound to reduce production, incomes and employment in the developing countries.
The measures taken by the G-20 to increase the flow of assistance will help, and they certainly represent an important achievement in international cooperation. However, the scale of the transfers we have planned will only help the developing countries to manage their balance of payments at depressed levels of economic activity. They cannot counter the effect of the loss of exports.
To resuscitate growth in the developing countries, we have to replace lost export demand by expanding other components of domestic demand. The best option is to expand investment. An obvious area where additional investment is needed in developing countries is infrastructure, including energy, transport and other infrastructure for public services. These investments can be made ahead of requirements and therefore are an ideal form of countercyclical activity.
The World Bank and the other regional development banks can play a major role by financing such investment. They should expand lending for infrastructure development to emerging market countries which have relied on capital markets in more normal times, but will need support in the medium run, till capital markets recover. The poorer, low-income countries had very little access to capital markets. For them, financing on suitable terms may have to be made available for an even longer period.
A strategy of expanding investment demand in developing countries to replace lost export demand will not only help growth in developing countries, it will also contribute to a broader global revival. This is because the import content of investment is typically higher than of exports, which means a significant percentage of the initial increase in demand will spill over into the global economy.
The World Bank has announced that the volume of IBRD lending would be increased to $100 billion over the next three years. This is commendable. However, if the capital base of the IBRD is not expanded, they will have to compress lending at the end of the three year period to less than the pre-crisis level. This is surely not acceptable.
There is, therefore, an overwhelming case for doubling the capital of the IBRD. Similar increases in capital are needed for the other regional development banks also.
I realize there may be hesitation in committing additional public resources for recapitalization. However, we must keep in mind that what is needed for these institutions is small compared to the massive scale of public money used to stabilize the private financial system in industrialized countries. Some additional effort is surely justified to help the developing countries to cope with the spillover effects of a crisis for which they were not responsible.
Finally, Mr. President, a word on trade. The collapse in export markets makes it all the more important that the market access of developing countries is not constrained by protectionism. I recognize that when growth is low, and unemployment is high, it is inevitable that protectionist pressures will arise. It will be a test of the collective political leadership of this Group, whether we are able to resist these pressures in our countries. I am happy to note that the Delhi Ministerial succeeded in reviving momentum for the Doha Round negotiations. I venture to suggest that this is an area where the industrial countries can give a lead to achieve a successful outcome.
We have done a great deal on finance and what remains is easily doable. We need to address the difficult tasks on the trade front which are now more important for the medium term."
***
--------------------------------------------------------------------------------
26th Sept 2009
Following is the text of the Prime Minister, Dr. Manmohan Singh’s remarks at the Plenary Session of G-20 Meeting at Pittsburgh:
"Mr. President, let me begin by thanking you for the excellent arrangements made for this Summit and for your warm hospitality.
We have discussed the complex challenges posed by the need to revive the global economy. I would like to focus on what this implies for the developing countries.
We all know that these countries were in no way responsible for the crisis, but in many ways, they are the hardest hit. In the seven years before the crisis, the GDP of the developing countries grew at an average of 6.5 per cent per year. In 2009 it will grow by only 1.5 per cent, implying a fall in real per capita income.
Of course, experience varies across countries. Countries in Asia have generally fared much better. Countries in sub-Saharan Africa and in many other regions have been very badly hit.
India too has been affected but, in common with other Asian countries, we have weathered the crisis relatively well given the circumstances. After growing at 9 per cent per year for four years our economy slowed down to 6.7 per cent in 2008-09. In 2009, despite a drought, which will affect agricultural production, we expect to grow by around 6.3 per cent in 2009-10 and then recover to 7 to 7.5 percent growth next year. This relatively strong performance is partly due to the strong stimulus measures introduced in the second half of 2008-09, which have been continued in the current financial year.
However, the fact that some of us have fared relatively well does not mean that the crisis has not affected the developing world significantly. The fact that the growth of developing countries as a group will fall to 1.5 per cent indicates the extent of the impact.
An estimated 90 million people in the developing world are likely to be pushed below the poverty line. Lower revenues will also lead to lower levels of expenditure on rural infrastructure, health and education. This will not only hurt future growth, but also delay achievement of the Millennium Development Goals. Social and political tensions could increase, undermining the national consensus in support of much needed structural reforms and adjustment.
The prospects of convergence, which seemed bright before the crisis, have receded. We must take steps to counter these developments and restore the momentum of growth in the developing world.
First, the problem must be tackled at its root by ensuring the quickest possible return to normalcy in the global economy. This requires a commitment that we will not undertake any premature withdrawal of stimulus. We must certainly plan for an orderly “exit” when the time is right, but that time is not now. The global economy may be bottoming out, but it is not expected to reach 3% growth until the end of 2010.
The depressed state of the global economy translates into a considerable loss of export demand for the developing countries. Exports of non-oil developing countries are expected to decline by about $900 billion in 2009, compared to the previous year. They will remain well below the trajectory earlier projected for several years. This is bound to reduce production, incomes and employment in the developing countries.
The measures taken by the G-20 to increase the flow of assistance will help, and they certainly represent an important achievement in international cooperation. However, the scale of the transfers we have planned will only help the developing countries to manage their balance of payments at depressed levels of economic activity. They cannot counter the effect of the loss of exports.
To resuscitate growth in the developing countries, we have to replace lost export demand by expanding other components of domestic demand. The best option is to expand investment. An obvious area where additional investment is needed in developing countries is infrastructure, including energy, transport and other infrastructure for public services. These investments can be made ahead of requirements and therefore are an ideal form of countercyclical activity.
The World Bank and the other regional development banks can play a major role by financing such investment. They should expand lending for infrastructure development to emerging market countries which have relied on capital markets in more normal times, but will need support in the medium run, till capital markets recover. The poorer, low-income countries had very little access to capital markets. For them, financing on suitable terms may have to be made available for an even longer period.
A strategy of expanding investment demand in developing countries to replace lost export demand will not only help growth in developing countries, it will also contribute to a broader global revival. This is because the import content of investment is typically higher than of exports, which means a significant percentage of the initial increase in demand will spill over into the global economy.
The World Bank has announced that the volume of IBRD lending would be increased to $100 billion over the next three years. This is commendable. However, if the capital base of the IBRD is not expanded, they will have to compress lending at the end of the three year period to less than the pre-crisis level. This is surely not acceptable.
There is, therefore, an overwhelming case for doubling the capital of the IBRD. Similar increases in capital are needed for the other regional development banks also.
I realize there may be hesitation in committing additional public resources for recapitalization. However, we must keep in mind that what is needed for these institutions is small compared to the massive scale of public money used to stabilize the private financial system in industrialized countries. Some additional effort is surely justified to help the developing countries to cope with the spillover effects of a crisis for which they were not responsible.
Finally, Mr. President, a word on trade. The collapse in export markets makes it all the more important that the market access of developing countries is not constrained by protectionism. I recognize that when growth is low, and unemployment is high, it is inevitable that protectionist pressures will arise. It will be a test of the collective political leadership of this Group, whether we are able to resist these pressures in our countries. I am happy to note that the Delhi Ministerial succeeded in reviving momentum for the Doha Round negotiations. I venture to suggest that this is an area where the industrial countries can give a lead to achieve a successful outcome.
We have done a great deal on finance and what remains is easily doable. We need to address the difficult tasks on the trade front which are now more important for the medium term."
***
PROJECT:DESIGNER CLOTHES
Radhika Dhawan, 26, has always been a fashion follower. "Not necessarily donning it, but being up to date with what's going on," she says. She went to the UK for a postgraduate course in retail management. "All my projects were skewed towards fashion," she says. After returning to India, she joined the Italian fashion brand GAS as a buyer and merchandiser. Dhawan loved her job but wanted to do something on her own.
EUREKA MOMENT Having attended many sample sales in the UK, she knew that organizing sample sales of designer wear could be a viable project. "I'm not reinventing the wheel here. This concept exists internationally, but not in India. So I thought I should try it out here. That's how my company First Row was set up in July last year," says Dhawan.
GENESIS She started fleshing out the idea--of selling finished samples, stocks from previous seasons and export surplus of designer clothes at heavy discounts--with the help of her mother, who used to be the head of corporate communication at Raymond, and her father, who is a manufacturer and exporter of leather goods. She then took the concept to fashion designers, such as Shantanu and Nikhil Mehra, Ashish Soni and Raghavendra Rathore, who were family friends.
By July 2008, she had quit her job to concentrate on this full time.
When these designers agreed to give her full support, she knew First Row had a shot at being successful. Soon she had seven more designers on board and her first exhibition was held in October at Mount View, the only five-star hotel in Chandigarh.
REALITY CHECK Now she also sells clothes by designers such as Narendra Kumar, Gauri and Nainika, Gaurav Gupta, Rajesh Pratap Singh, Rohit Bal, Malini Ramani, Mandira Wirk and Varun Bahl. For Dhawan, it's important to recreate an exclusive store experience during the one- or two-day exhibitions. Formal invites are sent out along with text messages and emails. The banquet hall of an exclusive venue like a hotel or a club is made into a store for that day.
She has had six exhibitions, and broke even for the first time after her fourth exhibition.
PLAN B "I didn't get into it thinking this won't work. I want to make this work anyhow."
SECRET SAUCE Dhawan says the big cities are saturated with designer wear and it's the small towns, that have the purchasing power and awareness, which need to be tapped. She's learning on the job. "And I get to wear great designer clothes for less."
Rachana Nakra rachana.n@livemint.com Starting capital Rs5 lakh Raising the money Loans from family and friends Getting the first customer The first customer at the first exhibition was a "target" customer, a fashionconscious individual, and an Alister in town First sign of success The fact that people were present outside the venue of her exhibitions an hour before time Biggest difficulty, so far Getting more designers to partner with
EUREKA MOMENT Having attended many sample sales in the UK, she knew that organizing sample sales of designer wear could be a viable project. "I'm not reinventing the wheel here. This concept exists internationally, but not in India. So I thought I should try it out here. That's how my company First Row was set up in July last year," says Dhawan.
GENESIS She started fleshing out the idea--of selling finished samples, stocks from previous seasons and export surplus of designer clothes at heavy discounts--with the help of her mother, who used to be the head of corporate communication at Raymond, and her father, who is a manufacturer and exporter of leather goods. She then took the concept to fashion designers, such as Shantanu and Nikhil Mehra, Ashish Soni and Raghavendra Rathore, who were family friends.
By July 2008, she had quit her job to concentrate on this full time.
When these designers agreed to give her full support, she knew First Row had a shot at being successful. Soon she had seven more designers on board and her first exhibition was held in October at Mount View, the only five-star hotel in Chandigarh.
REALITY CHECK Now she also sells clothes by designers such as Narendra Kumar, Gauri and Nainika, Gaurav Gupta, Rajesh Pratap Singh, Rohit Bal, Malini Ramani, Mandira Wirk and Varun Bahl. For Dhawan, it's important to recreate an exclusive store experience during the one- or two-day exhibitions. Formal invites are sent out along with text messages and emails. The banquet hall of an exclusive venue like a hotel or a club is made into a store for that day.
She has had six exhibitions, and broke even for the first time after her fourth exhibition.
PLAN B "I didn't get into it thinking this won't work. I want to make this work anyhow."
SECRET SAUCE Dhawan says the big cities are saturated with designer wear and it's the small towns, that have the purchasing power and awareness, which need to be tapped. She's learning on the job. "And I get to wear great designer clothes for less."
Rachana Nakra rachana.n@livemint.com Starting capital Rs5 lakh Raising the money Loans from family and friends Getting the first customer The first customer at the first exhibition was a "target" customer, a fashionconscious individual, and an Alister in town First sign of success The fact that people were present outside the venue of her exhibitions an hour before time Biggest difficulty, so far Getting more designers to partner with
Project:SOLAR LAMP
The founder-CEO of D.light Design, Sam Goldman, 30, grew up in different countries, spending four years in the 1990s in New Delhi. There was also a four-year stint with the Peace Corps in Benin in east Africa, where Goldman lived and worked with farmers in a village that had no electricity, running water, phones or roads. At the time he saw himself as an environmentalist who hated capitalism and globalization. While helping the village set up an agricultural training centre and introducing a Moringa plant-based nutritional supplement for expecting mothers and malnourished children, he saw the benefits economic liberalization was bringing to Benin, just as he had seen it earlier in India. "Businesses came in to the nearest town and its effects were fast-roads, Internet, infrastructure," he says. "Much more than financial aid had ever achieved."
EUREKA MOMENT More like three moments--he saw his 12-year-old neighbour in Benin suffer third-degree burns from head to toe because of an accident with a kerosene lantern.
He himself got bitten by a snake in his house as the light from his kerosene lamp was insufficient.
Another time, the dancing and drum beating at a death ceremony came to a standstill when the power generator conked out and it became pitch dark. "I switched on my LED headlamp and held it up," Goldman recalls.
"There was this 1-second pause and then the drumming and the dancing resumed."
GENESIS Pursuing an MBA at Stanford University, US (2005-07), Goldman took a course in "entrepreneurial design for extreme affordability" at the university's new design school. As part of a team of five students, he came up with a rough prototype for a solarpowered LED lantern. The big boost came when they won the prestigious Venture Challenge contest for the best business idea and received funding of $250,000 (Rs1.25 crore now) in 2007. Turning down attractive job offers, Goldman, his partner Ned Tozun and three others set up D.light Design, based out of a garage in Palo Alto, California.
Soon, Goldman was coming to India every four months, travelling to villages in eastern Uttar Pradesh. In January 2008, D.light decided to shift its headquarters to India. Their reason--it is a huge and complex market that is evolving rapidly. "It was time to get out of the bubble and get into the reality of UP, Bihar and India," he says.
Currently, D.light has two products in the market--Nova, a durable solar house light that also has a charger for mobile phones; and Solata, a solar study light.
REALITY CHECK Four months into his Indian stint, Goldman realized, "India is not a market--it is a dozen markets." Also, Goldman's notions of an India infused with entrepreneurial spirit ran up against reality. "This isn't Silicon Valley," he says. "Not many people are taking risks."
PLAN B Goldman has no Plan B but expansion plans for D.light are in place. Two new products are in the offing. "One reason why I am spending so much time in India is because a lot of what we are working on and learning here is exportable," says Goldman. "I want to take the lessons learnt here to the rest of the world."
SECRET SAUCE Hard work. "Ned and I are working our tails off. Long, hard hours to get this company off the ground."
Himanshu Bhagat himanshu.b@livemint.com Starting capital $6.6 million (around Rs330 crore now) Raising the money Venture capital investment and angel investors Getting the first customer Udayveer and Kalka Devi, who live in Bhadvas, western Uttar Pradesh.
Almost the entire village is lit by D.light Design lights now First sign of success When Udayveer wanted to join the company because D.light changed his life Biggest difficulty, so far Recruiting highly motivated and socially oriented senior sales, marketing and operations talent
EMAIL
himanshu.b@livemint.com
EUREKA MOMENT More like three moments--he saw his 12-year-old neighbour in Benin suffer third-degree burns from head to toe because of an accident with a kerosene lantern.
He himself got bitten by a snake in his house as the light from his kerosene lamp was insufficient.
Another time, the dancing and drum beating at a death ceremony came to a standstill when the power generator conked out and it became pitch dark. "I switched on my LED headlamp and held it up," Goldman recalls.
"There was this 1-second pause and then the drumming and the dancing resumed."
GENESIS Pursuing an MBA at Stanford University, US (2005-07), Goldman took a course in "entrepreneurial design for extreme affordability" at the university's new design school. As part of a team of five students, he came up with a rough prototype for a solarpowered LED lantern. The big boost came when they won the prestigious Venture Challenge contest for the best business idea and received funding of $250,000 (Rs1.25 crore now) in 2007. Turning down attractive job offers, Goldman, his partner Ned Tozun and three others set up D.light Design, based out of a garage in Palo Alto, California.
Soon, Goldman was coming to India every four months, travelling to villages in eastern Uttar Pradesh. In January 2008, D.light decided to shift its headquarters to India. Their reason--it is a huge and complex market that is evolving rapidly. "It was time to get out of the bubble and get into the reality of UP, Bihar and India," he says.
Currently, D.light has two products in the market--Nova, a durable solar house light that also has a charger for mobile phones; and Solata, a solar study light.
REALITY CHECK Four months into his Indian stint, Goldman realized, "India is not a market--it is a dozen markets." Also, Goldman's notions of an India infused with entrepreneurial spirit ran up against reality. "This isn't Silicon Valley," he says. "Not many people are taking risks."
PLAN B Goldman has no Plan B but expansion plans for D.light are in place. Two new products are in the offing. "One reason why I am spending so much time in India is because a lot of what we are working on and learning here is exportable," says Goldman. "I want to take the lessons learnt here to the rest of the world."
SECRET SAUCE Hard work. "Ned and I are working our tails off. Long, hard hours to get this company off the ground."
Himanshu Bhagat himanshu.b@livemint.com Starting capital $6.6 million (around Rs330 crore now) Raising the money Venture capital investment and angel investors Getting the first customer Udayveer and Kalka Devi, who live in Bhadvas, western Uttar Pradesh.
Almost the entire village is lit by D.light Design lights now First sign of success When Udayveer wanted to join the company because D.light changed his life Biggest difficulty, so far Recruiting highly motivated and socially oriented senior sales, marketing and operations talent
himanshu.b@livemint.com
PROEJCT: SAFETY PINS
Samarth Mungali, 26, a graduate from the Delhi College of Engineering, worked with IBM as a software engineer for two years before applying to the National Institute of Design (NID), Ahmedabad, for a course in strategic design management. There he met Bhavna Bahri, 25, a commerce graduate who had worked as an accounts assistant with a Dubai-based firm and moved to graphic and Web designing before enrolling herself at NID.
Bahri had initially chosen the graphic design course, but switched to the strategic design management course, with the aim of starting an entrepreneurial venture after graduating. The duo thought his engineering skills and her background in graphic design would make them a strong team, so they decided to start a venture, No Formulae, together.
Mungali says he always had an interest in designing and creating things: "I remember tinkering with small gadgets and circuits when I was young." He was later fascinated by his family's woodworking unit, and experimented with creating products. "I appreciated the way an object's shape influences its use. That's when I realized that design is ubiquitous--some thought has gone into the design of every object we use."
EUREKA MOMENT The Philips Simplicity Challenge was the catalyst fo Acceptor, the child-friendly syringe project. The electronics company was looking for simple, innovative, original business ideas. The Mumbai-based duo remembers reading that the disposable syringe was the big simple business idea of the last century. "My own fear of injection syringes helped me appreciate the need for the product. That was what gave us the idea to try to change the look of the syringe," says Mungali.
The duo tried to use distraction therapy, by designing a brightly coloure toy-like case in which a syringe could be fitted. The case comes in the shape of a butterfly or a juice bottle and the syringe is barely visible. "We wondered: If th look of the syringe was changed to sidetrack the child, would it help her forget the pain or trauma that generally comes with an injection?" says Mungali.
GENESIS They started on the challenge and sought help from friends at the college's design institute who helped with some aspects of the design.
They went on to win the r Simplicity Challenge, and the prize money went towards designing proper prototypes which they showed doctors for testing. They conducted a market survey in five cities to see how parents and doctors reacted to the product.
Mungali also made a trip to Sweden to present it to the medical fraternity there.
Danderyds Sjukhus, a hospital and medical institute in Sweden, has certified it as a feasible concept. Acceptor has just received a grant from the Union government to make working prototypes for large-scale medical testing in d India. The duo hopes to have the syringes in the market in about eight months.
REALITY CHECK They feel they've come a long e way from the first idea, and are currently running the last lap of the race to get Acceptor into the market as soon as possible. PLAN B Along with Acceptor, Mungali and Bahri have several other ventures under No Formulae, the parent company. This is a service design firm that marries design with business.
In fact, they did not take on any campus placements after their course, so they could be free to start No Formulae.
They have conducted research for an ice-cream company, helped an organic cosmetics and food company rebrand itself, and finished a project for a real estate firm trying to market luxury apartments during the downturn. They are also looking to commercialize the syringes and are on the hunt for partners.
SECRET SAUCE "What pushed us was a craving to achieve things we could only dream about. My dream was not staying in a job and working for IBM or a firm. I always wanted to do something of my own," says Mungali. "I didn't mind working 24x7 and 365 days a year for myself, but I didn't want to be stuck in a nine-to-five job, working for someone else."
Starting capital Rs5,000 Raising the money They dipped into their savings to participate in the Simplicity Challenge. On winning the challenge, they were awarded Rs15 lakh, which they used to make prototypes of the syringes Getting the first customer The product is in its testing stages First sign of success Winning contests such as the Philips Simplicity Challenge, IIT Mumbai's Eureka 2008 and the India Innovation Pioneer Challenge, hosted by the Union government's department of science and technology and Intel Biggest difficulty, so far Nothing
parizaad.k@livemint.com
Bahri had initially chosen the graphic design course, but switched to the strategic design management course, with the aim of starting an entrepreneurial venture after graduating. The duo thought his engineering skills and her background in graphic design would make them a strong team, so they decided to start a venture, No Formulae, together.
Mungali says he always had an interest in designing and creating things: "I remember tinkering with small gadgets and circuits when I was young." He was later fascinated by his family's woodworking unit, and experimented with creating products. "I appreciated the way an object's shape influences its use. That's when I realized that design is ubiquitous--some thought has gone into the design of every object we use."
EUREKA MOMENT The Philips Simplicity Challenge was the catalyst fo Acceptor, the child-friendly syringe project. The electronics company was looking for simple, innovative, original business ideas. The Mumbai-based duo remembers reading that the disposable syringe was the big simple business idea of the last century. "My own fear of injection syringes helped me appreciate the need for the product. That was what gave us the idea to try to change the look of the syringe," says Mungali.
The duo tried to use distraction therapy, by designing a brightly coloure toy-like case in which a syringe could be fitted. The case comes in the shape of a butterfly or a juice bottle and the syringe is barely visible. "We wondered: If th look of the syringe was changed to sidetrack the child, would it help her forget the pain or trauma that generally comes with an injection?" says Mungali.
GENESIS They started on the challenge and sought help from friends at the college's design institute who helped with some aspects of the design.
They went on to win the r Simplicity Challenge, and the prize money went towards designing proper prototypes which they showed doctors for testing. They conducted a market survey in five cities to see how parents and doctors reacted to the product.
Mungali also made a trip to Sweden to present it to the medical fraternity there.
Danderyds Sjukhus, a hospital and medical institute in Sweden, has certified it as a feasible concept. Acceptor has just received a grant from the Union government to make working prototypes for large-scale medical testing in d India. The duo hopes to have the syringes in the market in about eight months.
REALITY CHECK They feel they've come a long e way from the first idea, and are currently running the last lap of the race to get Acceptor into the market as soon as possible. PLAN B Along with Acceptor, Mungali and Bahri have several other ventures under No Formulae, the parent company. This is a service design firm that marries design with business.
In fact, they did not take on any campus placements after their course, so they could be free to start No Formulae.
They have conducted research for an ice-cream company, helped an organic cosmetics and food company rebrand itself, and finished a project for a real estate firm trying to market luxury apartments during the downturn. They are also looking to commercialize the syringes and are on the hunt for partners.
SECRET SAUCE "What pushed us was a craving to achieve things we could only dream about. My dream was not staying in a job and working for IBM or a firm. I always wanted to do something of my own," says Mungali. "I didn't mind working 24x7 and 365 days a year for myself, but I didn't want to be stuck in a nine-to-five job, working for someone else."
Starting capital Rs5,000 Raising the money They dipped into their savings to participate in the Simplicity Challenge. On winning the challenge, they were awarded Rs15 lakh, which they used to make prototypes of the syringes Getting the first customer The product is in its testing stages First sign of success Winning contests such as the Philips Simplicity Challenge, IIT Mumbai's Eureka 2008 and the India Innovation Pioneer Challenge, hosted by the Union government's department of science and technology and Intel Biggest difficulty, so far Nothing
parizaad.k@livemint.com
Project: FROZEN YOGHURT
"I've always been an entrepreneur," says G.S. Bhalla, 37. After graduating from Delhi University, Bhalla opted to forego studying at a business school and set up his own business venture in 1994. He started institutional business-to-business sales for promotional material for organizations such as Tata Donnelley, CRY and WWF, and had some success with a corporate gifting company. In 2000, he saw the success of BPO companies and decided to look for "the wide space" in the market where no one else was doing business. He found his spot with knowledge process outsourcing (KPO), providing back-end service to healthcare companies in the US.
EUREKA MOMENT Travelling around the world for his KPO job, he sampled frozen yogurt in Korea ("where the fro-yo craze started") and Pinkberry, a popular frozen yogurt in Los Angeles, US ("Our name", he says about Cocoberry, "is not meant as a reflection of Pinkberry"). When he started looking for a way to enter the fast moving food-and-beverage industry, he thought about young, urban customers looking for a health-conscious alternative.
Given the oppressive heat of Indian summers, he realized this cold treat could be the perfect business option.
GENESIS The first store, in New Delhi's Defence Colony market, was launched in November, just as the financial market crumbled.
"The turnout was rather poor and I thought, crap, this thing is not going to work," he says.
The rest of the week, too, was rocky. In fact, it took a whole month for the store to get a steady stream of customers, but there has been no looking back since.
REALITY CHECK From May to August, Cocoberry has opened stores in Hyderabad, Mumbai and three more Delhi locations. By the end of the year, they are hoping to have 15 more outlets across India. Now that the idea is cemented in an enterprise, Bhalla is looking at various modes of expansion, including the franchisee model. He plans to have 500 outlets by 2013.
PLAN B Bhalla has other ideas up his sleeve as well. He hopes to use Cocoberry as an example of running a business with a minimal carbon footprint.
He's teamed up with The Climate Group, an NGO in Delhi, to steer his business in the green direction. The stores use recycled materials for as many products as they can, from napkins to stationery. Customers who bring in their own cups get a Rs5 discount. Eventually, proceeds from the company will help Bhalla and his wife, Manisha, open a school for underprivileged girls.
SECRET SAUCE "Don't get into a business if you can't do it differently."
Melissa A. Bell
EUREKA MOMENT Travelling around the world for his KPO job, he sampled frozen yogurt in Korea ("where the fro-yo craze started") and Pinkberry, a popular frozen yogurt in Los Angeles, US ("Our name", he says about Cocoberry, "is not meant as a reflection of Pinkberry"). When he started looking for a way to enter the fast moving food-and-beverage industry, he thought about young, urban customers looking for a health-conscious alternative.
Given the oppressive heat of Indian summers, he realized this cold treat could be the perfect business option.
GENESIS The first store, in New Delhi's Defence Colony market, was launched in November, just as the financial market crumbled.
"The turnout was rather poor and I thought, crap, this thing is not going to work," he says.
The rest of the week, too, was rocky. In fact, it took a whole month for the store to get a steady stream of customers, but there has been no looking back since.
REALITY CHECK From May to August, Cocoberry has opened stores in Hyderabad, Mumbai and three more Delhi locations. By the end of the year, they are hoping to have 15 more outlets across India. Now that the idea is cemented in an enterprise, Bhalla is looking at various modes of expansion, including the franchisee model. He plans to have 500 outlets by 2013.
PLAN B Bhalla has other ideas up his sleeve as well. He hopes to use Cocoberry as an example of running a business with a minimal carbon footprint.
He's teamed up with The Climate Group, an NGO in Delhi, to steer his business in the green direction. The stores use recycled materials for as many products as they can, from napkins to stationery. Customers who bring in their own cups get a Rs5 discount. Eventually, proceeds from the company will help Bhalla and his wife, Manisha, open a school for underprivileged girls.
SECRET SAUCE "Don't get into a business if you can't do it differently."
Melissa A. Bell
HYDEL PROJECTS IN SIKKIM
Gangtok 26 sept 2009:
In a glimmer of hope for six hydel projects in North Sikkim with a projected generation capacity of 1047 MW, the union ministry of environment and forests (MOEF) has sought complete technical data for consideration of its earlier decision to put them on hold.
Complete technical data from a competent resource should be furnished for further consideration of its decision to stall six proposed hydel projects in the Chungthang Valley in North Sikkim, MOEF additional secretary J M Mauskar has demanded in a letter to the state government, official sources said.
The state government had written to the MOEF last month urging it to review its decision to withhold the six hydel projects.
It had stated that the developers would take utmost care of the concerns raised by the Centre for the Inter-disciplinary Studies of Mountain and Hill Environment (CISME) report on the carrying capacity of the Teesta river.
The state government urged the MOEF to grant permission to the developers to go ahead with investigation into the detailed project-specific information for critical examination by the state and the Centre to assess environmental impact of the hydel projects.
The state government had said that the authorities had the option to take a decision on the hydel projects at any stage after investigation.
Only those projects found to be viable from geo-technical and hydrological angles and were environmentally sustainable should be allowed to be developed, the state government had said in its plea to the MOEF.
The state government had assured that it would provide concrete measures and pragmatic strategy to preserve the environmental sensitivity of Chungthang Valley and put in place adequate environmental protection measures.
Making a case for the viability of the six hydel projects, the state government also questioned the contention of the CISME report about the availability of ‘little geological information from the area and the region being prone to landslides´.
It said the report did not substantiate the arguments.
The Chungthang valley represents a stable geological domain, the state government claimed while seeking to nullify the contention of the CISME report that it was geologically sensitive located in a young Himalayan mountain range.
The MOEF had directed the state government two months ago to stall construction at the six proposed hydel projects (Teesta Stage I - 280 MW), Teesta Stage II (330 MW), Lachen (280 MW), Lachung (99 MW), BOP (99 MW) and Bimkyong (99 MW)
Source-PTI/Mint
In a glimmer of hope for six hydel projects in North Sikkim with a projected generation capacity of 1047 MW, the union ministry of environment and forests (MOEF) has sought complete technical data for consideration of its earlier decision to put them on hold.
Complete technical data from a competent resource should be furnished for further consideration of its decision to stall six proposed hydel projects in the Chungthang Valley in North Sikkim, MOEF additional secretary J M Mauskar has demanded in a letter to the state government, official sources said.
The state government had written to the MOEF last month urging it to review its decision to withhold the six hydel projects.
It had stated that the developers would take utmost care of the concerns raised by the Centre for the Inter-disciplinary Studies of Mountain and Hill Environment (CISME) report on the carrying capacity of the Teesta river.
The state government urged the MOEF to grant permission to the developers to go ahead with investigation into the detailed project-specific information for critical examination by the state and the Centre to assess environmental impact of the hydel projects.
The state government had said that the authorities had the option to take a decision on the hydel projects at any stage after investigation.
Only those projects found to be viable from geo-technical and hydrological angles and were environmentally sustainable should be allowed to be developed, the state government had said in its plea to the MOEF.
The state government had assured that it would provide concrete measures and pragmatic strategy to preserve the environmental sensitivity of Chungthang Valley and put in place adequate environmental protection measures.
Making a case for the viability of the six hydel projects, the state government also questioned the contention of the CISME report about the availability of ‘little geological information from the area and the region being prone to landslides´.
It said the report did not substantiate the arguments.
The Chungthang valley represents a stable geological domain, the state government claimed while seeking to nullify the contention of the CISME report that it was geologically sensitive located in a young Himalayan mountain range.
The MOEF had directed the state government two months ago to stall construction at the six proposed hydel projects (Teesta Stage I - 280 MW), Teesta Stage II (330 MW), Lachen (280 MW), Lachung (99 MW), BOP (99 MW) and Bimkyong (99 MW)
Source-PTI/Mint
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