Sikkim Assembly passes resolution on IT exemption for old settlers
Gangtok, Dec 11 (PTI) Sikkim Assembly adopted an unanimous resolution today asking the Centre to extend the benefit of income tax exemption to old settlers in the state. Old settlers comprising members of the business community, kin of people in state government service prior to December 31, 1969 and those having agricultural land in rural areas ought to have been granted income tax exemption along with the indigenous people, the resolution said.
It asked the Centre, the sole arbiter of tax-related issues with the subject being part of the union list, to bring the other ordinary residents of the state under the purview of exemption granted under Income Tax Act, 1961. The resolution was moved by ruling Sikkim Democratic Front MLA Ugen T Gyatso Bhutia and seconded by another MLA Chandra Maya Subba and unanimously passed by all members of the house on the first day of the two-day winter session.
The Centre had in 2008 extended income tax exemption to indigenous Nepalese, Bhutia and Lepcha people possessing the Sikkim Subject Certificate or the Certificate of Identification issued by the state government. The old settlers had demanded similar benefits saying they too were permanent residents of Sikkim.
Saturday, December 12, 2009
Rajya Sabha on OT Lepcha's resolution for Sikkim development.
400 old settlers families issue also came up for discussion in Rajya Sabha
New Delhi, December 11: The Rajya Sabha today rejected by a voice vote a Private Member's Resolution calling upon the government to prepare an action plan for all-round development of Sikkim.
The rejection came after Minister for Development of the North East Region B K Handique assured the Members that the government was committed to the all around development of the North East Region.
“All steps will be taken to complete all the projects on time,” Handique said and urged OT Lepcha of the Sikkim Democratic Front to withdraw the Resolution.
However, since the Member was not present in the House, PJ Kurien who was in the Chair put it to a voice vote in which it was rejected.
The resolution, moved by Lepcha on November 26, also urged upon the government to connect the state with air and rail links at the earliest; improve the road infrastructure in the State by aceeding to the proposal received from the State government; consider appointment of the people of Sikkim to the constitutional posts; to develop Sikkim as an international tourist destination in view of its vast potential and to preserve the natural reserves of the State.
Earlier, speaking on the Resolution, Deputy Leader of the Opposition SS Ahluwalia asked the Minister to assure the House that the issue raised by him in particular about the 400 old settlers familes would be taken up with the Finance and the Home Ministries of Government of India.
400 old settlers families issue also came up for discussion in Rajya Sabha
New Delhi, December 11: The Rajya Sabha today rejected by a voice vote a Private Member's Resolution calling upon the government to prepare an action plan for all-round development of Sikkim.
The rejection came after Minister for Development of the North East Region B K Handique assured the Members that the government was committed to the all around development of the North East Region.
“All steps will be taken to complete all the projects on time,” Handique said and urged OT Lepcha of the Sikkim Democratic Front to withdraw the Resolution.
However, since the Member was not present in the House, PJ Kurien who was in the Chair put it to a voice vote in which it was rejected.
The resolution, moved by Lepcha on November 26, also urged upon the government to connect the state with air and rail links at the earliest; improve the road infrastructure in the State by aceeding to the proposal received from the State government; consider appointment of the people of Sikkim to the constitutional posts; to develop Sikkim as an international tourist destination in view of its vast potential and to preserve the natural reserves of the State.
Earlier, speaking on the Resolution, Deputy Leader of the Opposition SS Ahluwalia asked the Minister to assure the House that the issue raised by him in particular about the 400 old settlers familes would be taken up with the Finance and the Home Ministries of Government of India.
Sikkim Assembly adopts resolution for income tax exemption to left outs
GANGTOK, December 11: A resolution moved by Sikkim Democratic Front (SDF) legislator Ugne T Gyatso Bhutia seeking exemption income tax exemption to the left out categories of Sikkimese persons was adopted by the House today in the first day of the winter session of the Sikkim Legislative Assembly.
Bhutia, the SDF legislator from Tumin Lingi in South Sikkim, in his resolution recorded in the House that with the extension and enforcement of Direct Tax Laws, certain categories of the persons who have settled prior to the merger and popularly known as ‘old settlers’ belonging to the business community and persons whose father or husband had been in Sikkim government service on or before December 31, 1969 have been left out from this exemption.
It may be recalled that the Centre had in 2008 granted income tax exemption to the Sikkimese persons with Sikkim Subject certificates and their descendants. Those Sikkimese persons without the Sikkim Subject certificates like the old settler as mentioned above were not exempted.
Another category of persons who have been left out are those who have agricultural land in rural areas and who have been ordinarily residing in the State, said Bhutia. He proposed in his resolution that all the persons who has or had agricultural land in rural areas and has been ordinarily residing in Sikkim also be brought under the purview of exemption granted under the Income Tax Act, 1961.
Bhutia further proposed that all old settlers ie the business community or those persons whose father or husband has been in Sikkim government service before December 31, 1969 and have permanently settled and is continuously residing in Sikkim be also brought under the exempted categories.
SDF legislator from Maneybong-Dentam constituency, Chandra Maya Subba seconded the resolution which was then adopted unanimously by the House.
source: sikkim express
GANGTOK, December 11: A resolution moved by Sikkim Democratic Front (SDF) legislator Ugne T Gyatso Bhutia seeking exemption income tax exemption to the left out categories of Sikkimese persons was adopted by the House today in the first day of the winter session of the Sikkim Legislative Assembly.
Bhutia, the SDF legislator from Tumin Lingi in South Sikkim, in his resolution recorded in the House that with the extension and enforcement of Direct Tax Laws, certain categories of the persons who have settled prior to the merger and popularly known as ‘old settlers’ belonging to the business community and persons whose father or husband had been in Sikkim government service on or before December 31, 1969 have been left out from this exemption.
It may be recalled that the Centre had in 2008 granted income tax exemption to the Sikkimese persons with Sikkim Subject certificates and their descendants. Those Sikkimese persons without the Sikkim Subject certificates like the old settler as mentioned above were not exempted.
Another category of persons who have been left out are those who have agricultural land in rural areas and who have been ordinarily residing in the State, said Bhutia. He proposed in his resolution that all the persons who has or had agricultural land in rural areas and has been ordinarily residing in Sikkim also be brought under the purview of exemption granted under the Income Tax Act, 1961.
Bhutia further proposed that all old settlers ie the business community or those persons whose father or husband has been in Sikkim government service before December 31, 1969 and have permanently settled and is continuously residing in Sikkim be also brought under the exempted categories.
SDF legislator from Maneybong-Dentam constituency, Chandra Maya Subba seconded the resolution which was then adopted unanimously by the House.
source: sikkim express
Sikkim airport to be operational by Jan 2012
New Delhi, Dec 11 (PTI) An airport being built at Pakyong in Sikkim by the Airports Authority of India at a cost of Rs 358.36 crore will be operational by January 2012, Minister of North East Development B K Handique told the Rajya Sabha today.
Replying to a debate on a private member's resolution moved by O T Lepcha (SDF), he said the state, which is devoid of proper air and road connectivity, will see development in a couple of years with various centrally-funded projects in tourism and infrastructure sectors already underway.
Fresh proposals with substantial funds are in the pipeline for Sikkim, Handique said and added that projects worth Rs 664.87 crore are being implemented under Development of North Eastern Region programmes
New Delhi, Dec 11 (PTI) An airport being built at Pakyong in Sikkim by the Airports Authority of India at a cost of Rs 358.36 crore will be operational by January 2012, Minister of North East Development B K Handique told the Rajya Sabha today.
Replying to a debate on a private member's resolution moved by O T Lepcha (SDF), he said the state, which is devoid of proper air and road connectivity, will see development in a couple of years with various centrally-funded projects in tourism and infrastructure sectors already underway.
Fresh proposals with substantial funds are in the pipeline for Sikkim, Handique said and added that projects worth Rs 664.87 crore are being implemented under Development of North Eastern Region programmes
Friday, December 11, 2009
Use of Light Emitting Diode
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18:9 IST
LOK SABHA
The Bureau of Energy Efficiency (BEE) in association with the Confederation of Indian Industry (CII) has initiated the study on “Facilitating Market Transformation of LED Lamps in India”. The objective of the study is to facilitate market transformation of LED lighting in India by covering the latest trends and technologies, case studies and suppliers of LED lighting.
Light Emitting Diode (LED) is a new technology that provides very long life lamps consuming about 2/3rd energy as compared to CFLs at present. However, the cost of LED in the market is about 8 to 10 times more than that of CFLs. BEE has initiated demonstration projects in 23 States for providing LEDs in villages. Moreover, the demonstration projects for use of LEDs in street lighting applications have been approved in 32 States. The objective of BEE is to enhance the demand for LED based lights so that their cost are reduced.
This information was given by Shri Bharatsinh Solanki, Minister of State, Ministry of Power in a written reply in the Lok Sabha today.
--------------------------------------------------------------------------------
18:9 IST
LOK SABHA
The Bureau of Energy Efficiency (BEE) in association with the Confederation of Indian Industry (CII) has initiated the study on “Facilitating Market Transformation of LED Lamps in India”. The objective of the study is to facilitate market transformation of LED lighting in India by covering the latest trends and technologies, case studies and suppliers of LED lighting.
Light Emitting Diode (LED) is a new technology that provides very long life lamps consuming about 2/3rd energy as compared to CFLs at present. However, the cost of LED in the market is about 8 to 10 times more than that of CFLs. BEE has initiated demonstration projects in 23 States for providing LEDs in villages. Moreover, the demonstration projects for use of LEDs in street lighting applications have been approved in 32 States. The objective of BEE is to enhance the demand for LED based lights so that their cost are reduced.
This information was given by Shri Bharatsinh Solanki, Minister of State, Ministry of Power in a written reply in the Lok Sabha today.
China's mega-stimulus programme is like drinking poison to quench a thirst'."
We had recently warned you that the 'Next Dubai' could be closer than you think.
Ironically there are a few others who share this opinion. The European Union Chamber of Commerce in China is one of them. It believes that the country's overcapacity situation could finally lead the dragon nation to its doom. Besides, many are willing to bet on the possibility of China throwing up a Dubai-like shock. Of course, of a much bigger proportion. Much of China's 'overcapacity' has been driven by excessive capital spending and the artificial peg of the Chinese currency to the US dollar. These measures protect China's export-led manufacturing industry.
But that is not the end of the story. China's famous saving and investment history also has many critics. It seems China's investment to GDP ratio of 50% has broken all records. That of Germany's 27% in 1964, Japan's 36% in 1973, and South Korea's 39% in 1991. Also, the longest any country has sustained an investment to GDP ratio of over 33% was nine years. They were Thailand and Singapore. China is well into its 12th year of heavy investments. In fact a business daily has cited an interesting quote of a Chinese economist. "China's mega-stimulus programme is like drinking poison to quench a thirst'." Do we need to say more?
Ironically there are a few others who share this opinion. The European Union Chamber of Commerce in China is one of them. It believes that the country's overcapacity situation could finally lead the dragon nation to its doom. Besides, many are willing to bet on the possibility of China throwing up a Dubai-like shock. Of course, of a much bigger proportion. Much of China's 'overcapacity' has been driven by excessive capital spending and the artificial peg of the Chinese currency to the US dollar. These measures protect China's export-led manufacturing industry.
But that is not the end of the story. China's famous saving and investment history also has many critics. It seems China's investment to GDP ratio of 50% has broken all records. That of Germany's 27% in 1964, Japan's 36% in 1973, and South Korea's 39% in 1991. Also, the longest any country has sustained an investment to GDP ratio of over 33% was nine years. They were Thailand and Singapore. China is well into its 12th year of heavy investments. In fact a business daily has cited an interesting quote of a Chinese economist. "China's mega-stimulus programme is like drinking poison to quench a thirst'." Do we need to say more?
Institutes of Hotel Management
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12:4 IST
LOK SABHA
12 Dec 2009
The Minister of Tourism Kumari Selja has said that there are 21 Central Institutes of Hotel management and 8 State Institute of Hotel Management functional in the country. (The list is at the annexure).
In a written reply in the Lok Sabha today she said, at the initiative of each State Government, proposal for establishment of a State Institute of Hotel Management is examined by the Ministry of Tourism. The State Institute of Hotel Management is sanctioned after the State government makes available the land and accepts the standard terms and conditions of the scheme. In Tamil Nadu, at present, there is one functional Central IHM at Chennai.
ANNEXURE
CENTRAL INSTITUTE OF HOTEL MANAGEMENT:
1) Bangalore 2) Gwalior 3) Kolkata 4) Bhopal 5) Goa 6) Lucknow 7) Bhubaneswar 8) Gurdaspur 9) Mumbai 10) Chandigarh 11) Gandhi Nagar 12) Shimla 13) Chennai 14) Hajipur 15) Shillong 16) Delhi (Pusa) 17) Hyderabad 18) Srinagar 19) Guwahati 20) Jaipur 21) Thiruvananthapuram
STATE INSTITUTES OF HOTEL MANAGEMENT:
1) Dehradun 2) Gangtok 3) Jodhpur 4) Kozhikode 5) Delhi (Lajpat Nagar) 6) Chandigarh 7) Kurukshetra 8) Faridabad
--------------------------------------------------------------------------------
12:4 IST
LOK SABHA
12 Dec 2009
The Minister of Tourism Kumari Selja has said that there are 21 Central Institutes of Hotel management and 8 State Institute of Hotel Management functional in the country. (The list is at the annexure).
In a written reply in the Lok Sabha today she said, at the initiative of each State Government, proposal for establishment of a State Institute of Hotel Management is examined by the Ministry of Tourism. The State Institute of Hotel Management is sanctioned after the State government makes available the land and accepts the standard terms and conditions of the scheme. In Tamil Nadu, at present, there is one functional Central IHM at Chennai.
ANNEXURE
CENTRAL INSTITUTE OF HOTEL MANAGEMENT:
1) Bangalore 2) Gwalior 3) Kolkata 4) Bhopal 5) Goa 6) Lucknow 7) Bhubaneswar 8) Gurdaspur 9) Mumbai 10) Chandigarh 11) Gandhi Nagar 12) Shimla 13) Chennai 14) Hajipur 15) Shillong 16) Delhi (Pusa) 17) Hyderabad 18) Srinagar 19) Guwahati 20) Jaipur 21) Thiruvananthapuram
STATE INSTITUTES OF HOTEL MANAGEMENT:
1) Dehradun 2) Gangtok 3) Jodhpur 4) Kozhikode 5) Delhi (Lajpat Nagar) 6) Chandigarh 7) Kurukshetra 8) Faridabad
New Rail line from Sevok to Sikkim
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14:29 IST
RAJYA SABHA 12 Dec 2009
The construction of new line from Sevok to Rangpo (Sikkim) has been taken up. The length of the line is 52.7 kms. and cost as per the initial survey is Rs. 1339.48 crore. The Final Location Survey is in progress. The work has been entrusted to M/s IRCON, a Public Sector Undertaking, under the Ministry of Railways, for execution.
This information was given by the Minister of State in the Ministry of Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
AKS/HK/LK/TR
--------------------------------------------------------------------------------
14:29 IST
RAJYA SABHA 12 Dec 2009
The construction of new line from Sevok to Rangpo (Sikkim) has been taken up. The length of the line is 52.7 kms. and cost as per the initial survey is Rs. 1339.48 crore. The Final Location Survey is in progress. The work has been entrusted to M/s IRCON, a Public Sector Undertaking, under the Ministry of Railways, for execution.
This information was given by the Minister of State in the Ministry of Railways, Shri E. Ahamed in a written reply in Rajya Sabha today.
AKS/HK/LK/TR
SLF convinced on 1977 to be declared as cut-off year by SDF Govt
GANGTOK, December 10: Sikkim Liberation Forum (SLF) has expressed its confidence that the Sikkim Democratic Front (SDF) Government will be setting 1975 as the cut-off year enabling those Sikkimese persons without Sikkim subject certificates to get the paper works done.
SLF president Dilip Rai said that the objective of floating the body was to deliver Sikkim Subject certificates to those bonafide Sikkimese persons who do not posses the said certificates. We aim to achieve this by convincing the popular government of SDF to declare 1975 as a cut-off year, he said.
We are confident that the SDF GZovernment will show seriousness to our request and declare 1975 as the cut-off year so the people can get their Sikkim subject certificates, said Rai.
The SLF president further informed that the organization is working silently for the people’s rights all over the State and enrolling more members.
It may be added here that the demand for cut-off year has been coming from various organizations in the State including Sikkim Bihari Jagran Manch, Sikkim Nagarik Sangarsh Samiti and Sikkim Nagarik Uttan Sangh.
source: sikkim express
GANGTOK, December 10: Sikkim Liberation Forum (SLF) has expressed its confidence that the Sikkim Democratic Front (SDF) Government will be setting 1975 as the cut-off year enabling those Sikkimese persons without Sikkim subject certificates to get the paper works done.
SLF president Dilip Rai said that the objective of floating the body was to deliver Sikkim Subject certificates to those bonafide Sikkimese persons who do not posses the said certificates. We aim to achieve this by convincing the popular government of SDF to declare 1975 as a cut-off year, he said.
We are confident that the SDF GZovernment will show seriousness to our request and declare 1975 as the cut-off year so the people can get their Sikkim subject certificates, said Rai.
The SLF president further informed that the organization is working silently for the people’s rights all over the State and enrolling more members.
It may be added here that the demand for cut-off year has been coming from various organizations in the State including Sikkim Bihari Jagran Manch, Sikkim Nagarik Sangarsh Samiti and Sikkim Nagarik Uttan Sangh.
source: sikkim express
Joint survey for finalization of Sikkim railway stations to begin on Dec 14
GANGTOK, December 10: A joint survey for the finalization of railway stations in Sikkim is scheduled to be conducted on December 14.
This date was finalised following the direction of Chief Secretary TT Dorji made during a meeting held on November 19
It has also been learnt that the survey would involve officials from North Eastern Frontier Railways, State Forest, Mines & Geology Department, State Land Revenue Department, State Power Department, District Collector (E), Border Roads Organization and Army along with the State Transport Department, the nodal agency in the project.
During the joint survey, the visiting officials will inspect and survey the Rangpo Station area as demarcated earlier along with ‘search for other suitable flat land’ measuring 1 km as options.
Similarly on the very day, the team will also be surveying terminal stations which would be located at Chota Singtam and Bhusuk area, said SNT additional general manager Uttam Pradhan.
The location survey of railways in Sikkim, Mr. Pradhan added is likely to be completed by this month. However, the deadline set for the same on November 29 had expired.
GANGTOK, December 10: A joint survey for the finalization of railway stations in Sikkim is scheduled to be conducted on December 14.
This date was finalised following the direction of Chief Secretary TT Dorji made during a meeting held on November 19
It has also been learnt that the survey would involve officials from North Eastern Frontier Railways, State Forest, Mines & Geology Department, State Land Revenue Department, State Power Department, District Collector (E), Border Roads Organization and Army along with the State Transport Department, the nodal agency in the project.
During the joint survey, the visiting officials will inspect and survey the Rangpo Station area as demarcated earlier along with ‘search for other suitable flat land’ measuring 1 km as options.
Similarly on the very day, the team will also be surveying terminal stations which would be located at Chota Singtam and Bhusuk area, said SNT additional general manager Uttam Pradhan.
The location survey of railways in Sikkim, Mr. Pradhan added is likely to be completed by this month. However, the deadline set for the same on November 29 had expired.
State Institute of Capacity Building inaugurated
Institute a testimony of our commitment towards youth: CM
GANGTOK, December 10: With another round of blockade of Sikkim imminent due to a Telangana reignited Gorkhaland movement in the neighbouring hills, Chief Minister Pawan Chamling today urged the people to brace for the impact while asserting that his Government will be working to ensure undisrupted supply of essential supplies into the landlocked State.
There is a strong possibility of our highway NH 31A getting blocked in coming days and Sikkim always suffer due to unsteady politics in the neighbouring State, said Chamling while inaugurating the State Institute of Capacity Building at Karfectar, Jorethang in South Sikkim today.
Indirectly pointing towards the political turbulence in the neighbouring hills, the Chief Minister said that a section of the people is jealous of Sikkim’s development. He also assured the people that the State government will be contacting their counterparts in West Bengal for smooth transportation of essential supplies into Sikkim if the highways are blocked once again. He asserted that the State government will not tolerate the snapping of communication and transportation links any further.
Speaking on the newly inaugurated State Institute of Capacity Building, the Chief Minister frankly appealed the youth of Sikkim to accept the reality that they all cannot get government jobs as the government sector has reached its saturation point. He pointed out that 85 percent of the youth in the State are educated and by 2015 there would be 100 percent literacy in the State.
Hence, it is not possible that there will be government jobs for everyone, said Chamling appealing the youth to tap into the vast private and service sectors. We have abundant job opportunities in other sectors and the present unemployment figures are not due to lack of opportunities, he said. Our people are not willing to take the opportunities, he added.
The Chief Minister further informed that there are vacancies for 191 Mathematics teachers in Sikkim but the posts are still vacant due to lack of qualified candidates for the posts.
Appealing the youth to take benefit from the newly inaugurated centre, Chamling said that every constituency in the State will have Livelihood School. One such school has already started at Kamrang from this month and the remaining constituencies will be getting their Livelihood schools soon, he added.
The Chief Minister also urged the youth not to fall for the misleading slogans and promises of certain people who are using the youth for their vested interests. There are several people in the State who are ready to take advantage of the educated unemployed youth to attain their selfish goals and this is not in the interest of the society and the State, he said.
Chamling further claimed that there are people who are trying to play community based politics against him and his government. Such individual who take advantage of poor people is not a leader but a dacoit, he said adding that his politics is not elections centric but is aimed for the welfare of Sikkim and Sikkimese people.
The Chief Minister said that the inauguration of the capacity building institute was a testimony of the State government’s commitment towards the unemployed youth of Sikkim. An educated person may not get a job but a capable and skilled person will find job anywhere, he said encouraging the youth to take benefit from the institute. Our youth must be capable of grabbing every opportunity in the State, he said.
Institute a testimony of our commitment towards youth: CM
GANGTOK, December 10: With another round of blockade of Sikkim imminent due to a Telangana reignited Gorkhaland movement in the neighbouring hills, Chief Minister Pawan Chamling today urged the people to brace for the impact while asserting that his Government will be working to ensure undisrupted supply of essential supplies into the landlocked State.
There is a strong possibility of our highway NH 31A getting blocked in coming days and Sikkim always suffer due to unsteady politics in the neighbouring State, said Chamling while inaugurating the State Institute of Capacity Building at Karfectar, Jorethang in South Sikkim today.
Indirectly pointing towards the political turbulence in the neighbouring hills, the Chief Minister said that a section of the people is jealous of Sikkim’s development. He also assured the people that the State government will be contacting their counterparts in West Bengal for smooth transportation of essential supplies into Sikkim if the highways are blocked once again. He asserted that the State government will not tolerate the snapping of communication and transportation links any further.
Speaking on the newly inaugurated State Institute of Capacity Building, the Chief Minister frankly appealed the youth of Sikkim to accept the reality that they all cannot get government jobs as the government sector has reached its saturation point. He pointed out that 85 percent of the youth in the State are educated and by 2015 there would be 100 percent literacy in the State.
Hence, it is not possible that there will be government jobs for everyone, said Chamling appealing the youth to tap into the vast private and service sectors. We have abundant job opportunities in other sectors and the present unemployment figures are not due to lack of opportunities, he said. Our people are not willing to take the opportunities, he added.
The Chief Minister further informed that there are vacancies for 191 Mathematics teachers in Sikkim but the posts are still vacant due to lack of qualified candidates for the posts.
Appealing the youth to take benefit from the newly inaugurated centre, Chamling said that every constituency in the State will have Livelihood School. One such school has already started at Kamrang from this month and the remaining constituencies will be getting their Livelihood schools soon, he added.
The Chief Minister also urged the youth not to fall for the misleading slogans and promises of certain people who are using the youth for their vested interests. There are several people in the State who are ready to take advantage of the educated unemployed youth to attain their selfish goals and this is not in the interest of the society and the State, he said.
Chamling further claimed that there are people who are trying to play community based politics against him and his government. Such individual who take advantage of poor people is not a leader but a dacoit, he said adding that his politics is not elections centric but is aimed for the welfare of Sikkim and Sikkimese people.
The Chief Minister said that the inauguration of the capacity building institute was a testimony of the State government’s commitment towards the unemployed youth of Sikkim. An educated person may not get a job but a capable and skilled person will find job anywhere, he said encouraging the youth to take benefit from the institute. Our youth must be capable of grabbing every opportunity in the State, he said.
Savings and investment products that are targeted at wealthier individuals ('HNIs', as they are called nowadays) are often made deliberately complex. This is generally done just to make them appear special and to enable the providers of this products make more money. Investors shouldn't fall for such tricks:
The Problem of Wealth
“Wealth is not without its advantages, and the case to the contrary, although it has often been made, has never proved widely persuasive. But, beyond doubt, wealth is the relentless enemy of understanding. The poor man has always a precise view of his problem and its remedy, he hasn’t enough and he needs more. The rich man can assume or imagine a much greater variety of ills and he will be correspondingly less certain of their remedy. Also, until he learns to live with his wealth, he will have a well-observed tendency to put it to wrong purposes or otherwise to make himself look foolish.”
That’s the first paragraph of John Kenneth Galbraith’s great book ‘The Affluent Society’, written half a century ago. The book takes a different direction after this beginning, but Galbraith’s comments in these first lines on the ‘variety of ills’ of the rich can explain a great many problems of the world. In my observation, this ‘relentless enemy of understanding’ plays a big role in the way people invest their savings, and in the kind of savings products that do well.
There are many ways of classifying savings and investment products but I’d like to suggest a completely new one: those designed to suit the vanity of the wealthy and those that are actually useful. Actually, that’s probably a good way of classifying almost everything from clothes to cars to food, but I’ll just stick to investments right now.
The basic idea behind investments designed for the wealthy is that they feed the idea that they must go beyond simple things that gives returns and safety. Investments that simply provide a certain level of returns and a correspondingly high or low level of safety are for the unwashed masses. The wealthy must have something special which others don’t have. Their must be someone who will cater to their unique personal situation and then formulate a strategy tailor-made for each individual’s unique needs and then manage that strategy.
Actually, in the context of investments, the only thing different about the wealthy is that they have more wealth and so other people have more of an incentive to try and take some of it for themselves (the wealth, I mean). Obviously, this is best done by creating products and services that are supposed to do something extra. Unfortunately, way too many wealthy people either never discover this, or discover this too late. Here’s how to deal with it. Pretend to be unwealthy (I guess that may be hard, but give it a try). Remove a few zeros from your net worth and then see what you would have been advised. So if you are worth Rs 10 crore and need to invest 50 lakh, pretend to whoever is advising you that you are worth Rs 10 lakh and that you need to invest Rs 50,000. And then, go ahead and do with the 50 lakh whatever you are being told to do with th e 50,000.
Go ahead and give it a shot. You’ll have a better chance of getting sane and sensible advice and of making the better choice. And who knows, maybe it’ll work for cars and clothes too.
Dhirendra Kumar
The Problem of Wealth
“Wealth is not without its advantages, and the case to the contrary, although it has often been made, has never proved widely persuasive. But, beyond doubt, wealth is the relentless enemy of understanding. The poor man has always a precise view of his problem and its remedy, he hasn’t enough and he needs more. The rich man can assume or imagine a much greater variety of ills and he will be correspondingly less certain of their remedy. Also, until he learns to live with his wealth, he will have a well-observed tendency to put it to wrong purposes or otherwise to make himself look foolish.”
That’s the first paragraph of John Kenneth Galbraith’s great book ‘The Affluent Society’, written half a century ago. The book takes a different direction after this beginning, but Galbraith’s comments in these first lines on the ‘variety of ills’ of the rich can explain a great many problems of the world. In my observation, this ‘relentless enemy of understanding’ plays a big role in the way people invest their savings, and in the kind of savings products that do well.
There are many ways of classifying savings and investment products but I’d like to suggest a completely new one: those designed to suit the vanity of the wealthy and those that are actually useful. Actually, that’s probably a good way of classifying almost everything from clothes to cars to food, but I’ll just stick to investments right now.
The basic idea behind investments designed for the wealthy is that they feed the idea that they must go beyond simple things that gives returns and safety. Investments that simply provide a certain level of returns and a correspondingly high or low level of safety are for the unwashed masses. The wealthy must have something special which others don’t have. Their must be someone who will cater to their unique personal situation and then formulate a strategy tailor-made for each individual’s unique needs and then manage that strategy.
Actually, in the context of investments, the only thing different about the wealthy is that they have more wealth and so other people have more of an incentive to try and take some of it for themselves (the wealth, I mean). Obviously, this is best done by creating products and services that are supposed to do something extra. Unfortunately, way too many wealthy people either never discover this, or discover this too late. Here’s how to deal with it. Pretend to be unwealthy (I guess that may be hard, but give it a try). Remove a few zeros from your net worth and then see what you would have been advised. So if you are worth Rs 10 crore and need to invest 50 lakh, pretend to whoever is advising you that you are worth Rs 10 lakh and that you need to invest Rs 50,000. And then, go ahead and do with the 50 lakh whatever you are being told to do with th e 50,000.
Go ahead and give it a shot. You’ll have a better chance of getting sane and sensible advice and of making the better choice. And who knows, maybe it’ll work for cars and clothes too.
Dhirendra Kumar
DARJEELING: To close for 4 days
FROM THE TELEGRAPH
Darjeeling, Dec. 10: The Gorkha Janmukti Morcha today announced a four-day strike in the Darjeeling hills from December 14, demanding that Gorkhaland be dealt simultaneously with Telangana and going back on its word that there would be no bandhs till the scheduled tripartite talks in the third week of this month.
The general strike is part of the series of agitation programmes (see chart) lined up by the Morcha which has lost faith in the tripartite talks between the Centre, state and its own leaders. Till date, the party had attached much importance to the talks and had even agreed to maintain congenial atmosphere before the fourth rounds on December 21.
“Given the developments that have taken place…the tripartite meeting is no longer important for us. We want Gorkhaland to be created along with the state of Telangana,” said Morcha president Bimal Gurung at a media conference in Singhmari. The party has decided to launch an indefinite hunger strike from tomorrow in Darjeeling, Kurseong, Kalimpong, Siliguri and the Dooars as well.
Determined to go ahead with the agitation, Gurung said: “During the bandh, we will not allow even police vehicles to ply.”
Many hotels have already started advising tourists to cancel their trips. “Although it is not a peak season, we did have some bookings. Given the fact that the situation is definitely going to deteriorate in the days to come we are advising tourists to change their plans,” said a hotelier here.
More people will be inducted in the hunger strike from December 18 onwards. Till then, regular rallies by various frontal organisations of the party have been lined up.
With the Congress government at the Centre asking its counterparts in Andhra Pradesh to table a resolution on Telangana, the Morcha leadership is confused. “This means f the Centre is honest and willing, there is no need for tripartite talks and an interlocutor, you can get down to brass tacks and settle the matter,” said Morcha media and publicity secretary Harka Bahadur Chhetri.
The Telangana development is worrying the CPM too. “We opposed the Centre (on formation of smaller states) since we knew that it would open a Pandora’s box. It will instigate the separatist forces in Bengal including those asking for Gorkhaland, Greater Cooch Behar and Kamtapur,” said CPM politburo member and industry minister Nirupam Sen after a state secretariat meeting in Calcutta this evening. The communists are divided on Telangana as the CPI supported its formation in Parliament.
FROM THE TELEGRAPH
Darjeeling, Dec. 10: The Gorkha Janmukti Morcha today announced a four-day strike in the Darjeeling hills from December 14, demanding that Gorkhaland be dealt simultaneously with Telangana and going back on its word that there would be no bandhs till the scheduled tripartite talks in the third week of this month.
The general strike is part of the series of agitation programmes (see chart) lined up by the Morcha which has lost faith in the tripartite talks between the Centre, state and its own leaders. Till date, the party had attached much importance to the talks and had even agreed to maintain congenial atmosphere before the fourth rounds on December 21.
“Given the developments that have taken place…the tripartite meeting is no longer important for us. We want Gorkhaland to be created along with the state of Telangana,” said Morcha president Bimal Gurung at a media conference in Singhmari. The party has decided to launch an indefinite hunger strike from tomorrow in Darjeeling, Kurseong, Kalimpong, Siliguri and the Dooars as well.
Determined to go ahead with the agitation, Gurung said: “During the bandh, we will not allow even police vehicles to ply.”
Many hotels have already started advising tourists to cancel their trips. “Although it is not a peak season, we did have some bookings. Given the fact that the situation is definitely going to deteriorate in the days to come we are advising tourists to change their plans,” said a hotelier here.
More people will be inducted in the hunger strike from December 18 onwards. Till then, regular rallies by various frontal organisations of the party have been lined up.
With the Congress government at the Centre asking its counterparts in Andhra Pradesh to table a resolution on Telangana, the Morcha leadership is confused. “This means f the Centre is honest and willing, there is no need for tripartite talks and an interlocutor, you can get down to brass tacks and settle the matter,” said Morcha media and publicity secretary Harka Bahadur Chhetri.
The Telangana development is worrying the CPM too. “We opposed the Centre (on formation of smaller states) since we knew that it would open a Pandora’s box. It will instigate the separatist forces in Bengal including those asking for Gorkhaland, Greater Cooch Behar and Kamtapur,” said CPM politburo member and industry minister Nirupam Sen after a state secretariat meeting in Calcutta this evening. The communists are divided on Telangana as the CPI supported its formation in Parliament.
GJM calls three-day bandh to press for ‘Gorkhaland’
Kolkata, Dec 10 (PTI) With the Centre conceding to the demand for a Telangana state bifurcating Andhra Pradesh, the Gorkha Janamukti Morcha (GJM) today said its demand for a separate ‘Gorkhaland’ should also be allowed and announced a three-day bandh in Darjeeling hills from December 14.
“Since Telangana, on the lines of the Gorkhaland statehood demand, has been approved by the Centre, our demand for a separate state carved out of West Bengal should also be conceded by the Centre,” GJM General Secretary Roshan Giri told PTI from Darjeeling.
“Ours is a 102-year-old demand. We should be given justice and we have called a three-day bandh from December 14 in Darjeeling to press for it,” Giri, who left for Delhi as the head of a four-member GJM team to take up the issue, said.
Kolkata, Dec 10 (PTI) With the Centre conceding to the demand for a Telangana state bifurcating Andhra Pradesh, the Gorkha Janamukti Morcha (GJM) today said its demand for a separate ‘Gorkhaland’ should also be allowed and announced a three-day bandh in Darjeeling hills from December 14.
“Since Telangana, on the lines of the Gorkhaland statehood demand, has been approved by the Centre, our demand for a separate state carved out of West Bengal should also be conceded by the Centre,” GJM General Secretary Roshan Giri told PTI from Darjeeling.
“Ours is a 102-year-old demand. We should be given justice and we have called a three-day bandh from December 14 in Darjeeling to press for it,” Giri, who left for Delhi as the head of a four-member GJM team to take up the issue, said.
Arunachal Pradesh allots Subansari Middle project to a joint venture.
Private companies have started gaining a major foothold in the power sector of Arunachal Pradesh. The country’s largest hydroelectric power generation company NHPC’s plan of coming up with a 1600 MW (8 x 200 MW) Subansiri Middle project has been shattered.
The Arunachal Pradesh government has reportedly informed NHPC that the Subansiri Middle project on Kamla River has been allotted to a joint venture of Hydro Development Corporation of Arunachal Pradesh and Jindal Power. The cost of the project is around Rs 6406.18 Crore. It has also asked the company to hand over important data pertaining to the project. The company has already prepared the detailed project report. NHPC has sought the intervention of the power ministry in this regard. This decision is likely to severely affect the NHPC’s plan of scaling its generation capacity to over 20,000 mw by 2020 from about 6,000 mw now.
Sources in the power ministry said that top officials from NHPC have written to the ministry stating that “NHPC is capable and ready to complete DPR and subsequent execution of Subansiri Middle and Subansiri Upper (2,000 mw) hydroelectric projects. It would not be fair at this stage if any of these projects are allotted to independent power projects (IPPs),”
NHPC is already constructing the 2,000 mw Lower Subansiri project. It has identified 6 projects with a capacity of 10,000 mw in the state.
Already the Arunachal Pradesh government and the Jindal Group have agreed to jointly develop the 4500 MW Etalin multi-purpose hydro-electric project. This project is believed to be biggest power project in the country.
Sources said, “Already a MoU has been inked and a joint venture company had been registered in June this year to implement the project. The corporation will have a 26 per cent stake in the project.”
Work on the detailed project report is underway. The power project was earlier supposed to be developed by the power utility, National Thermal Power Corporation (NTPC).
The project is located in the Lower Dibang valley on the Dibang River in the border state. In 2006 the state government signed an agreement for the development of about 10, 230 MW of hydro power with PSU including NHPC and North Eastern Electric Power Corporation (NEEPCO). According to an estimate Arunachal Pradesh has the potential to generate around 50,000 MW of power.
Site of the Lower Subansiri Power Project
However with several environmental groups opposing mega dams in North East India, the power ministry will soon initiate a comprehensive study on the river basin of the North East region. The study will be carried by an agency to ascertain the impact of power projects.
Union Power Minister, Sushil Kumar Shinde will be visiting the site of the 2000 MW Lower Subansiri power project along the Assam-Arunchal border shortly. Some NGOs are protesting against the project.
With massive work required to implement a series of power projects in the North East, National Power Training Institute (NPTI) has set up a full fledged training institute in Guwahati. Mr. Shinde while inaugurating the new NPTI building in Guwahati recently said, “India has got huge potential in the power sector in respect of power generation and trained manpower. Countries like U.S.A, China and Russia, which were not ready to talk to India earlier are approaching the Government of India and are trying to start up dialogues with their countries regarding the power sector.”
He added, “In the next two years, we will be requiring more young people and technical back up to run power projects in the country and institutes like the National Power Institute will serve this purpose. The Government of India’s first priority in the power sector is to generate employment. To get the trained manpower, the Government of India has decided to lay the foundation stone of the Training Institute before the starting of any power project in any region so that within the gestation period of any project, trained manpower of the area would be rehabilitated in the project and the aspirations of the locals would be realized,”.
He informed that during the 11th plan, 70,700 MW power would headed to installed capacity. “We want to increase the per capita availability to1000 units per year. Presently the installed capacity is 1, 50,000 MW and North East states are facing a shortage of power supply.”
H. S. Brahma, Secretary, Ministry of Power said, “We will be requiring trained manpower to construct, establish and run the power projects. By 2011 there will be huge demand for man power. We are short by 8 lakh trained man power to manage 2 lakh MW of power in the country both in the government and private sector. By 2020 as per the Government of India’s decision, 20,000 MW of power would be generated by solar power or other new and renewable energy sources.”
He added that North East sates including Sikkim will have the capacity of 20,000 to 25, 000 MW and for that the region requires almost 120 to 130 power projects in the region and the NPTI will provide the man power for all the projects. Nearly 90 percent of manpower for all projects which will be established in the power sector in the region will be provided by the NPTI.
NPTI was started in Narengi area with the small built up space provided by the Assam state Electricity Board (ASEB). Later on it was shifted to Kahilipara in Guwahati for which the Government of Assam had provided 15 acres of land. The Institute has trained 3000 officers and employees of ASEB in 4 years.
Private companies have started gaining a major foothold in the power sector of Arunachal Pradesh. The country’s largest hydroelectric power generation company NHPC’s plan of coming up with a 1600 MW (8 x 200 MW) Subansiri Middle project has been shattered.
The Arunachal Pradesh government has reportedly informed NHPC that the Subansiri Middle project on Kamla River has been allotted to a joint venture of Hydro Development Corporation of Arunachal Pradesh and Jindal Power. The cost of the project is around Rs 6406.18 Crore. It has also asked the company to hand over important data pertaining to the project. The company has already prepared the detailed project report. NHPC has sought the intervention of the power ministry in this regard. This decision is likely to severely affect the NHPC’s plan of scaling its generation capacity to over 20,000 mw by 2020 from about 6,000 mw now.
Sources in the power ministry said that top officials from NHPC have written to the ministry stating that “NHPC is capable and ready to complete DPR and subsequent execution of Subansiri Middle and Subansiri Upper (2,000 mw) hydroelectric projects. It would not be fair at this stage if any of these projects are allotted to independent power projects (IPPs),”
NHPC is already constructing the 2,000 mw Lower Subansiri project. It has identified 6 projects with a capacity of 10,000 mw in the state.
Already the Arunachal Pradesh government and the Jindal Group have agreed to jointly develop the 4500 MW Etalin multi-purpose hydro-electric project. This project is believed to be biggest power project in the country.
Sources said, “Already a MoU has been inked and a joint venture company had been registered in June this year to implement the project. The corporation will have a 26 per cent stake in the project.”
Work on the detailed project report is underway. The power project was earlier supposed to be developed by the power utility, National Thermal Power Corporation (NTPC).
The project is located in the Lower Dibang valley on the Dibang River in the border state. In 2006 the state government signed an agreement for the development of about 10, 230 MW of hydro power with PSU including NHPC and North Eastern Electric Power Corporation (NEEPCO). According to an estimate Arunachal Pradesh has the potential to generate around 50,000 MW of power.
Site of the Lower Subansiri Power Project
However with several environmental groups opposing mega dams in North East India, the power ministry will soon initiate a comprehensive study on the river basin of the North East region. The study will be carried by an agency to ascertain the impact of power projects.
Union Power Minister, Sushil Kumar Shinde will be visiting the site of the 2000 MW Lower Subansiri power project along the Assam-Arunchal border shortly. Some NGOs are protesting against the project.
With massive work required to implement a series of power projects in the North East, National Power Training Institute (NPTI) has set up a full fledged training institute in Guwahati. Mr. Shinde while inaugurating the new NPTI building in Guwahati recently said, “India has got huge potential in the power sector in respect of power generation and trained manpower. Countries like U.S.A, China and Russia, which were not ready to talk to India earlier are approaching the Government of India and are trying to start up dialogues with their countries regarding the power sector.”
He added, “In the next two years, we will be requiring more young people and technical back up to run power projects in the country and institutes like the National Power Institute will serve this purpose. The Government of India’s first priority in the power sector is to generate employment. To get the trained manpower, the Government of India has decided to lay the foundation stone of the Training Institute before the starting of any power project in any region so that within the gestation period of any project, trained manpower of the area would be rehabilitated in the project and the aspirations of the locals would be realized,”.
He informed that during the 11th plan, 70,700 MW power would headed to installed capacity. “We want to increase the per capita availability to1000 units per year. Presently the installed capacity is 1, 50,000 MW and North East states are facing a shortage of power supply.”
H. S. Brahma, Secretary, Ministry of Power said, “We will be requiring trained manpower to construct, establish and run the power projects. By 2011 there will be huge demand for man power. We are short by 8 lakh trained man power to manage 2 lakh MW of power in the country both in the government and private sector. By 2020 as per the Government of India’s decision, 20,000 MW of power would be generated by solar power or other new and renewable energy sources.”
He added that North East sates including Sikkim will have the capacity of 20,000 to 25, 000 MW and for that the region requires almost 120 to 130 power projects in the region and the NPTI will provide the man power for all the projects. Nearly 90 percent of manpower for all projects which will be established in the power sector in the region will be provided by the NPTI.
NPTI was started in Narengi area with the small built up space provided by the Assam state Electricity Board (ASEB). Later on it was shifted to Kahilipara in Guwahati for which the Government of Assam had provided 15 acres of land. The Institute has trained 3000 officers and employees of ASEB in 4 years.
To Raise Rs 90Cr From FE Clean Energy
December 10 2009, Clean had earlier infused equity into Ambuthirtha Power Pvt Ltd, a 22MW hydro power project of Soham Group.
Soham Renewable Energy India (SREIPL), a Bangalore-based company involved in power generation in the renewable sector is close to raising Rs 90 crore from FE Clean Energy, a private equity firm investing in mid-market energy efficiency space. The company expects the process to be completed by the end of January 2010.
The equity fund had earlier invested in the company at a project level. It had earlier infused equity into Ambuthirtha Power Pvt Ltd, a 22MW hydro power project of Soham Group.
The company will deploy the fund for an acquisition led growth apart from expansion at project levels. It plans to acquire companies to have pan-India footprint. It targets partially completed projects of 10MW-25MW capacities. Its area of preference includes Uttaranchal, Himachal Pradesh, Sikkim, Maharastra, Madhya Pradesh, Meghalaya and Arunachal Pradesh. It is also looking at possibilities to expand in Sri Lanka.
Earlier, the company raised Rs 80 crore in a private equity funding from global funds, including a commitment of Rs 60 crore from DE Shaw and the rest from FE Clean Energy.
Soham, which currently operates two power plants in Karnataka with a total capacity of 37MW, has lined up around Rs 700-crore expansion plan across nine plants to increase the power generation capacity to 100MW over a period of next 3-4 years. It has already invested Rs 235 crore and plans to raise the remaining amount through mix of equity and debt.
FE Clean Energy had made some other investments in India. It has invested in Swasti Power Engineering Ltd, a 22.5MW hydro power project in Uttarkhand; and in Elpro, an energy service company in Bangalore.
December 10 2009, Clean had earlier infused equity into Ambuthirtha Power Pvt Ltd, a 22MW hydro power project of Soham Group.
Soham Renewable Energy India (SREIPL), a Bangalore-based company involved in power generation in the renewable sector is close to raising Rs 90 crore from FE Clean Energy, a private equity firm investing in mid-market energy efficiency space. The company expects the process to be completed by the end of January 2010.
The equity fund had earlier invested in the company at a project level. It had earlier infused equity into Ambuthirtha Power Pvt Ltd, a 22MW hydro power project of Soham Group.
The company will deploy the fund for an acquisition led growth apart from expansion at project levels. It plans to acquire companies to have pan-India footprint. It targets partially completed projects of 10MW-25MW capacities. Its area of preference includes Uttaranchal, Himachal Pradesh, Sikkim, Maharastra, Madhya Pradesh, Meghalaya and Arunachal Pradesh. It is also looking at possibilities to expand in Sri Lanka.
Earlier, the company raised Rs 80 crore in a private equity funding from global funds, including a commitment of Rs 60 crore from DE Shaw and the rest from FE Clean Energy.
Soham, which currently operates two power plants in Karnataka with a total capacity of 37MW, has lined up around Rs 700-crore expansion plan across nine plants to increase the power generation capacity to 100MW over a period of next 3-4 years. It has already invested Rs 235 crore and plans to raise the remaining amount through mix of equity and debt.
FE Clean Energy had made some other investments in India. It has invested in Swasti Power Engineering Ltd, a 22.5MW hydro power project in Uttarkhand; and in Elpro, an energy service company in Bangalore.
NEIHRN delegation undergoing NE tour
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Dimapur, December 9 (MExN): In an effort to strengthen the “Harm Reduction” movement in the North East including Sikkim, NEIHRN delegation is undergoing a regional tour and to visit all the NE States deliberating on the “State Specific Issues” in regards to the “Harm Reduction” activities in the region.
A press note received here stated that the delegation comprise of president W C Humtsoe (Nagaland), general secretary Dodo Namaram ( Manipur) and treasurer Ronny Waikhom (Manipur), vice president Dr. S I Ahmed (Assam) and joint secretary Hasina Kharbhih (Meghalaya)
The note also mentioned that the NEIHRN was formed in 2002 and have been a driving force in advocacy focusing on “right based approach, addressing on overcoming stigma and discrimination and enhancing a better enabling environment for all stake holder on Drugs and HIV/AIDS related issues in the North East (NIEHRNers)”.
Font size: morungexpress
Dimapur, December 9 (MExN): In an effort to strengthen the “Harm Reduction” movement in the North East including Sikkim, NEIHRN delegation is undergoing a regional tour and to visit all the NE States deliberating on the “State Specific Issues” in regards to the “Harm Reduction” activities in the region.
A press note received here stated that the delegation comprise of president W C Humtsoe (Nagaland), general secretary Dodo Namaram ( Manipur) and treasurer Ronny Waikhom (Manipur), vice president Dr. S I Ahmed (Assam) and joint secretary Hasina Kharbhih (Meghalaya)
The note also mentioned that the NEIHRN was formed in 2002 and have been a driving force in advocacy focusing on “right based approach, addressing on overcoming stigma and discrimination and enhancing a better enabling environment for all stake holder on Drugs and HIV/AIDS related issues in the North East (NIEHRNers)”.
Constitution of Centrally Sponsored Scheme of Construction of Hostel for SC & OBC Boys and Girls (OBC component) during 11th Five year Plan and revision of its norms
--------------------------------------------------------------------------------
10 Dec 2009
20:41 IST
The Cabinet Committee on Economic Affairs today approved revision of the existing Centrally Sponsored Scheme of Construction of Hostel for SC & OBC Boys and Girls (OBC component) during the remaining period of 11th Five year Plan with the following norms:
(i) Existing cost sharing pattern with States is 50:50. This will be changed to 90:10 in the case of North-Eastern States including Sikkim, while the existing pattern will continue in the case of other States. (ii) So far, there was no involvement of NGOs in implementation of the Scheme. After this revision, suitable voluntary organisations will also be eligible to receive assistance under the Scheme. Funding pattern for them will be 45% each by Central and State Governments and 10% by NGOs.
(iii) A new component of financial assistance has been approved i.e. a one-time non-recurring grant @ Rs.2500/- per student will be provided for essential furniture and equipment.
(iv) Under the existing Scheme, there have been wide variations in the per unit cost of the hostels received from the State Governments and a need was felt to bring about some uniformity in the minimum physical infrastructure provided to OBC students. Accordingly, minimum physical and financial norms for a 100 seated hostel has been approved as under:
(a) The total built up area of a hostel will be 1215 sq.mtr. including dormitory, kitchen, and dining hall, toilet/bath, common room/reading room, medical room, staff quarter etc. which means the built up area per resident will be 12.15 sq.mtr.
(b) The total cost of a hostel including the cost of construction and other essential / recreational facilities will be approximately Rs.1.37 crore which will be shared between the Centre and State, which means the cost per seat will be about Rs.1.40 lakh.
(c) The above minimum physical and financial norms have been approved for betterment of the existing hostel conditions. However, the State Governments may provide additional facilities to the residents at a higher cost and such additional cost will have to be borne by the States.
The constitution enjoins upon the State to promote with special care the educational and economic interests of the weaker sections of the people. The Centrally sponsored Scheme of Construction of Hostels for SC and OBC Boys and Girls (OBC Component) is being implemented since 1998-99 to address the problem of educational backwardness of OBCs. Many a time, rural students especially from those belonging to weaker sections have to give up their pursuit of education because their villages do not have Secondary schools and colleges and adequate hostel facilities are not available for them at reasonable cost, at places where such educational institutions are available. Therefore, the Scheme for OBCs provides assistance to State Governments for construction of hostels up to 100 seats capacity for OBC boys and Girls studying at School and college level. At least 1/3rd of the hostels are meant to be constructed exclusively for girls and 5% of the total seats are reserved for disabled students. However, students belonging to the creamy layer (income limit of which is currently Rs. 4.50 lakh per annum) are not eligible for admission to these hostels.
The Scheme is being implemented through the State Governments and Union Territory Administrations while Voluntary organizations are not eligible for financial assistance under the existing scheme. Central assistance to States is provided on a 50:50 basis, while 100% assistance is provided to UTs and Central Government Institutions.
The allocation of funds under the Scheme for the remaining two years of 11th Plan i.e. 2010-2012 is Rs.209 crore. It is proposed to sanction about 30,000 number of seats under the revised Scheme during the period 2010-2012.
The OBC students whose parents’ income does not exceed Rs.4.50 lakh per annum will be benefited with the result that the target group will get access to residential accommodation, while pursuing studies away from home.
The scheme addresses the problem of educational backwardness of OBC students and their social integration with the mainstream of society by helping them in pursuit of their education through adequate hostel facilities in the vicinity of educational institutions to bring about equity in the society.
Laying down of physical and financial norms will bring about uniformity and improve accountability of grantee State/Government Institutions / NGOs etc.
The expenditure involved is Rs.209 crore for 2010-12 for about 30000 seats.
Under the revised Scheme, it is proposed to cover un-served districts of different States where adequate hostel facilities are not available for OBC students.
The Scheme is being implemented from 1998-99 and not revised so far. The scheme aims at providing better educational opportunities to students belonging to OBCs. Since the inception of the scheme and up to the 10th Plan (2006-07), 573 hostels (39606 seats) have been sanctioned. During the first year of the 11th Plan, 95 hostels with 6025 seats have been sanctioned. During 2008-09, a sum of Rs.34.55 crore has been sanctioned to States for construction of 117 hostels with 8315 seats.
*****
AKT/LV
--------------------------------------------------------------------------------
10 Dec 2009
20:41 IST
The Cabinet Committee on Economic Affairs today approved revision of the existing Centrally Sponsored Scheme of Construction of Hostel for SC & OBC Boys and Girls (OBC component) during the remaining period of 11th Five year Plan with the following norms:
(i) Existing cost sharing pattern with States is 50:50. This will be changed to 90:10 in the case of North-Eastern States including Sikkim, while the existing pattern will continue in the case of other States. (ii) So far, there was no involvement of NGOs in implementation of the Scheme. After this revision, suitable voluntary organisations will also be eligible to receive assistance under the Scheme. Funding pattern for them will be 45% each by Central and State Governments and 10% by NGOs.
(iii) A new component of financial assistance has been approved i.e. a one-time non-recurring grant @ Rs.2500/- per student will be provided for essential furniture and equipment.
(iv) Under the existing Scheme, there have been wide variations in the per unit cost of the hostels received from the State Governments and a need was felt to bring about some uniformity in the minimum physical infrastructure provided to OBC students. Accordingly, minimum physical and financial norms for a 100 seated hostel has been approved as under:
(a) The total built up area of a hostel will be 1215 sq.mtr. including dormitory, kitchen, and dining hall, toilet/bath, common room/reading room, medical room, staff quarter etc. which means the built up area per resident will be 12.15 sq.mtr.
(b) The total cost of a hostel including the cost of construction and other essential / recreational facilities will be approximately Rs.1.37 crore which will be shared between the Centre and State, which means the cost per seat will be about Rs.1.40 lakh.
(c) The above minimum physical and financial norms have been approved for betterment of the existing hostel conditions. However, the State Governments may provide additional facilities to the residents at a higher cost and such additional cost will have to be borne by the States.
The constitution enjoins upon the State to promote with special care the educational and economic interests of the weaker sections of the people. The Centrally sponsored Scheme of Construction of Hostels for SC and OBC Boys and Girls (OBC Component) is being implemented since 1998-99 to address the problem of educational backwardness of OBCs. Many a time, rural students especially from those belonging to weaker sections have to give up their pursuit of education because their villages do not have Secondary schools and colleges and adequate hostel facilities are not available for them at reasonable cost, at places where such educational institutions are available. Therefore, the Scheme for OBCs provides assistance to State Governments for construction of hostels up to 100 seats capacity for OBC boys and Girls studying at School and college level. At least 1/3rd of the hostels are meant to be constructed exclusively for girls and 5% of the total seats are reserved for disabled students. However, students belonging to the creamy layer (income limit of which is currently Rs. 4.50 lakh per annum) are not eligible for admission to these hostels.
The Scheme is being implemented through the State Governments and Union Territory Administrations while Voluntary organizations are not eligible for financial assistance under the existing scheme. Central assistance to States is provided on a 50:50 basis, while 100% assistance is provided to UTs and Central Government Institutions.
The allocation of funds under the Scheme for the remaining two years of 11th Plan i.e. 2010-2012 is Rs.209 crore. It is proposed to sanction about 30,000 number of seats under the revised Scheme during the period 2010-2012.
The OBC students whose parents’ income does not exceed Rs.4.50 lakh per annum will be benefited with the result that the target group will get access to residential accommodation, while pursuing studies away from home.
The scheme addresses the problem of educational backwardness of OBC students and their social integration with the mainstream of society by helping them in pursuit of their education through adequate hostel facilities in the vicinity of educational institutions to bring about equity in the society.
Laying down of physical and financial norms will bring about uniformity and improve accountability of grantee State/Government Institutions / NGOs etc.
The expenditure involved is Rs.209 crore for 2010-12 for about 30000 seats.
Under the revised Scheme, it is proposed to cover un-served districts of different States where adequate hostel facilities are not available for OBC students.
The Scheme is being implemented from 1998-99 and not revised so far. The scheme aims at providing better educational opportunities to students belonging to OBCs. Since the inception of the scheme and up to the 10th Plan (2006-07), 573 hostels (39606 seats) have been sanctioned. During the first year of the 11th Plan, 95 hostels with 6025 seats have been sanctioned. During 2008-09, a sum of Rs.34.55 crore has been sanctioned to States for construction of 117 hostels with 8315 seats.
*****
AKT/LV
Thursday, December 10, 2009
New Pension Fund
While we are yet to fully understand the lowcost, investor-friendly pension scheme under the New Pension System (NPS), the regulator, Pension Fund Regulatory and Development Authority (PFRDA) added an optional Tier II facility on 1 December.
Look at Tier II as a mutual fund with very low costs and investor-friendly features. It is a liquid version of the Tier I account (pension account) that locks up your money till you are 60. The Tier II account works more like a savings account where you can withdraw your money whenever you wish.
More about Tier II You can make your contributions using your permanent retirement account number (PRAN) at any of the designated points of presence. Some of the popular ones are State Bank of India, Central Bank of India, ICICI Bank Ltd, Axis Bank Ltd, Citibank, Union Bank of India and IDBI Bank Ltd.
You have a choice of three fund options. Equity (E), this is an equity index fund that replicates the portfolio of either BSE Sensitive index or NSE Nifty 50 index. You can only put half your money into this fund. The other two are fixed-income instruments other than government securities (C); and government securities (G). You can choose the fund on your own, or it will go to the "Auto Choice" module, which invests in options that suit your age profile. The fund managers you can choose from are ICICI Prudential Pension Fund Management Co. Ltd, IDFC Pension Fund Management Co. Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd, SBI Pension Funds Pvt. Ltd and UTI Retirement Solutions Ltd.
Tax angle A crucial difference between the two accounts is the tax treatment. Says Rani S. Nair, executive director, PFRDA: "Since Tier II does not have any lock-in period, it does not qualify for a tax deduction under section 80C." However, right now, the pension regulator is divided on the tax treatment of the amount withdrawn.
Says Nair: "We are yet to hear from the tax department on the tax implications." Going by the product structure, withdrawals will attract capital gains tax.
Withdrawals before one year will attract short-term capital gains that is taxed at the marginal rate (the highest tax rate on your income slab). For withdrawals after one year, you will have to pay long-term capital gains--10% for debt funds and nil for equity funds.
Do you need it?
If you do not have an EPFO account, Money Matters recommends that you put your longterm retirement money (other than the Public Provident Fund) into the NPS.
However, the advice is more layered for the Tier II account.
Investing in it would largely depend on your risk appetite. For a young investor with a minimum three decades to go for retirement, the Tier II account may not be the answer. Investing 100% in equities would be preferable. Says Kartik Varma, co-founder, iTrust, a financial advisory firm: "One can easily replicate the benefits of the Tier II account by investing in an index fund. If you are young, you can direct a larger portion of your investments into equities." However, for a mediumterm investment horizon of three-five years, the cost effectiveness of this account may work out better than an MF, or even an fixed deposit.
Although Tier II beats all other funds hands down, the fact that only 50% can be invested in an equity fund dilutes this cost-based edge over others. This account can't be seen as a retirement vehicle but what it stands for: savings. For a slightly aggressive investor, it can be comfortably given a miss. Equity mutual funds or index funds can be opted for.
Says Suresh Sadagopan, Mumbai-based financial planner: "It is similar to a monthly income plan and is meant for those looking at some sort of income. For long-term investors, mutual funds or index funds are advisable."
Look at Tier II as a mutual fund with very low costs and investor-friendly features. It is a liquid version of the Tier I account (pension account) that locks up your money till you are 60. The Tier II account works more like a savings account where you can withdraw your money whenever you wish.
More about Tier II You can make your contributions using your permanent retirement account number (PRAN) at any of the designated points of presence. Some of the popular ones are State Bank of India, Central Bank of India, ICICI Bank Ltd, Axis Bank Ltd, Citibank, Union Bank of India and IDBI Bank Ltd.
You have a choice of three fund options. Equity (E), this is an equity index fund that replicates the portfolio of either BSE Sensitive index or NSE Nifty 50 index. You can only put half your money into this fund. The other two are fixed-income instruments other than government securities (C); and government securities (G). You can choose the fund on your own, or it will go to the "Auto Choice" module, which invests in options that suit your age profile. The fund managers you can choose from are ICICI Prudential Pension Fund Management Co. Ltd, IDFC Pension Fund Management Co. Ltd, Kotak Mahindra Pension Fund Ltd, Reliance Capital Pension Fund Ltd, SBI Pension Funds Pvt. Ltd and UTI Retirement Solutions Ltd.
Tax angle A crucial difference between the two accounts is the tax treatment. Says Rani S. Nair, executive director, PFRDA: "Since Tier II does not have any lock-in period, it does not qualify for a tax deduction under section 80C." However, right now, the pension regulator is divided on the tax treatment of the amount withdrawn.
Says Nair: "We are yet to hear from the tax department on the tax implications." Going by the product structure, withdrawals will attract capital gains tax.
Withdrawals before one year will attract short-term capital gains that is taxed at the marginal rate (the highest tax rate on your income slab). For withdrawals after one year, you will have to pay long-term capital gains--10% for debt funds and nil for equity funds.
Do you need it?
If you do not have an EPFO account, Money Matters recommends that you put your longterm retirement money (other than the Public Provident Fund) into the NPS.
However, the advice is more layered for the Tier II account.
Investing in it would largely depend on your risk appetite. For a young investor with a minimum three decades to go for retirement, the Tier II account may not be the answer. Investing 100% in equities would be preferable. Says Kartik Varma, co-founder, iTrust, a financial advisory firm: "One can easily replicate the benefits of the Tier II account by investing in an index fund. If you are young, you can direct a larger portion of your investments into equities." However, for a mediumterm investment horizon of three-five years, the cost effectiveness of this account may work out better than an MF, or even an fixed deposit.
Although Tier II beats all other funds hands down, the fact that only 50% can be invested in an equity fund dilutes this cost-based edge over others. This account can't be seen as a retirement vehicle but what it stands for: savings. For a slightly aggressive investor, it can be comfortably given a miss. Equity mutual funds or index funds can be opted for.
Says Suresh Sadagopan, Mumbai-based financial planner: "It is similar to a monthly income plan and is meant for those looking at some sort of income. For long-term investors, mutual funds or index funds are advisable."
Visa on Arrival Facility introduced for tourists coming from five countries.
--------------------------------------------------------------------------------
18:36 IST 9 Dec 2009
Ministry of Tourism has issued following statement today:
Ministry of Tourism had taken up the issue of introduction of Visa on Arrival Scheme for tourists coming from those countries which are potential source markets for India from where there are no security concerns. The Government has decided to introduce visa on arrival scheme from five countries which are Singapore, Finland, New Zealand, Luxemburg and Japan on a pilot basis for a period of one year. The modalities of the implementation of the scheme are being worked out with all the stakeholders and will be notified very shortly.
Introduction on Visa on Arrival scheme is expected to provide a quantum jump in foreign tourist arrivals to India from these source markets in future. This in turn will also provide a boost to our civil aviation sector as the airports will have an increase in air traffic. The decision to provide VoA facility has sent a positive message about the intention of our country to welcome foreign tourists and also signals a sense of self confidence in the security systems of the country.
The Union Tourism Minister Kumari Selja has thanked the Home Minister Shri P. Chidambaram to provide Visa on Arrival facility to five countries.
--------------------------------------------------------------------------------
18:36 IST 9 Dec 2009
Ministry of Tourism has issued following statement today:
Ministry of Tourism had taken up the issue of introduction of Visa on Arrival Scheme for tourists coming from those countries which are potential source markets for India from where there are no security concerns. The Government has decided to introduce visa on arrival scheme from five countries which are Singapore, Finland, New Zealand, Luxemburg and Japan on a pilot basis for a period of one year. The modalities of the implementation of the scheme are being worked out with all the stakeholders and will be notified very shortly.
Introduction on Visa on Arrival scheme is expected to provide a quantum jump in foreign tourist arrivals to India from these source markets in future. This in turn will also provide a boost to our civil aviation sector as the airports will have an increase in air traffic. The decision to provide VoA facility has sent a positive message about the intention of our country to welcome foreign tourists and also signals a sense of self confidence in the security systems of the country.
The Union Tourism Minister Kumari Selja has thanked the Home Minister Shri P. Chidambaram to provide Visa on Arrival facility to five countries.
Development of Highways in North-East States
--------------------------------------------------------------------------------
13:39 IST
Rajya Sabha
In addition to annual plan allocations for roads and highways for North Eastern States, a special package called Special Accelerated Road Development Program for North Eastern States (SARDP-NE) has been approved by Government covering improvement/construction of 9940 km of length of National Highways and State roads. The program has been divided into 3 parts, i.e. Phase ‘A’, Phase ‘B’ and Arunachal Pradesh Package of Roads and Highways. Under SARDP-NE, the State wise length of road in Arunachal Pradesh is 3414 km.; Assam – 1741 km; Manipur- 297 km; Meghalaya - 822 km; Mizoram - 1009 km; Nagaland - 1272 km; Sikkim - 589 km; and Tripura - 796 km.
Under National Highway Development Project (NHDP)–II, 4-laning of 678 km of National Highway from Srirampur to Silchar in Assam has been taken up as part of the East West corridor at an investment of about Rs 6000 crore . Under NHDP Phase-III, 4-laning of 706 km stretches of National Highways has been included on BOT (Toll) basis.
The above information was provided by Shri R.P.N.Singh, Minister of State for Road Transport and Highways in the Rajya Sabha today.
--------------------------------------------------------------------------------
13:39 IST
Rajya Sabha
In addition to annual plan allocations for roads and highways for North Eastern States, a special package called Special Accelerated Road Development Program for North Eastern States (SARDP-NE) has been approved by Government covering improvement/construction of 9940 km of length of National Highways and State roads. The program has been divided into 3 parts, i.e. Phase ‘A’, Phase ‘B’ and Arunachal Pradesh Package of Roads and Highways. Under SARDP-NE, the State wise length of road in Arunachal Pradesh is 3414 km.; Assam – 1741 km; Manipur- 297 km; Meghalaya - 822 km; Mizoram - 1009 km; Nagaland - 1272 km; Sikkim - 589 km; and Tripura - 796 km.
Under National Highway Development Project (NHDP)–II, 4-laning of 678 km of National Highway from Srirampur to Silchar in Assam has been taken up as part of the East West corridor at an investment of about Rs 6000 crore . Under NHDP Phase-III, 4-laning of 706 km stretches of National Highways has been included on BOT (Toll) basis.
The above information was provided by Shri R.P.N.Singh, Minister of State for Road Transport and Highways in the Rajya Sabha today.
Priority to senior citizens under RTI
--------------------------------------------------------------------------------
16:51 IST
LOK SABHA
9 Dec 2009
The Central Information Commission has issued a notification, inter-alia, stating that the appeals and complaints filed by senior citizens shall be taken up by the Commission on priority basis on production of documentary proof in support of their claim to be a senior citizen.
The Commission maintains information about appeals/complaints received from senior citizens online. It received 228 complaints and 27 appeals from senior citizens online till December 1, 2009. Information about disposal of such complaints/appeals has not been maintained. The Commission works autonomously and the Government has no role to play in the matter.
This information was given by the Minister of State in the Ministry of Personnel, Public Grievances & Pensions, Shri Prithviraj Chavan in a written reply to a question in Lok Sabha today.
--------------------------------------------------------------------------------
16:51 IST
LOK SABHA
9 Dec 2009
The Central Information Commission has issued a notification, inter-alia, stating that the appeals and complaints filed by senior citizens shall be taken up by the Commission on priority basis on production of documentary proof in support of their claim to be a senior citizen.
The Commission maintains information about appeals/complaints received from senior citizens online. It received 228 complaints and 27 appeals from senior citizens online till December 1, 2009. Information about disposal of such complaints/appeals has not been maintained. The Commission works autonomously and the Government has no role to play in the matter.
This information was given by the Minister of State in the Ministry of Personnel, Public Grievances & Pensions, Shri Prithviraj Chavan in a written reply to a question in Lok Sabha today.
China Tibet general in Calcutta
New Delhi, Dec. 8: China’s army commander for Tibet is being hosted by the Indian Army in its Eastern Command in Fort William, Calcutta, this week in a confidence-building measure that both sides hope will keep channels of communication open on border disputes.
Lieutenant General Shu Yu Tai, chief of the Peoples’ Liberation Army’s Tibet Military Region Command, has come three months after India’s eastern army commander, Lieutenant General V.K. Singh, visited Tibet and was also taken to Lhasa at the head of an Indian military delegation.
General Shu will also visit the headquarters of the 33 Corps in Sukna, north Bengal. Troops of the 33 Corps are deployed at the border with China in Sikkim.
The general was in Kathmandu just before reaching Calcutta. He leaves December 11.
“This is a goodwill visit. Our generals have also been hosted by the PLA in Tibet,” an army headquarters source said in New Delhi.
On the week-long visit to Tibet, Lt Gen V.K. Singh was accompanied by the commander of the Tezpur-headquartered 4 Corps that is dual-tasked on the China border in Arunachal and also for counter-insurgency in Assam. Gen Singh’s area of responsibility covers the entire front with China from Sikkim to Arunachal Pradesh, including Bhutan.
Gen Shu’s visit to India coincides with the tour by another delegation of military officers from China’s National Defence University. Last week, the deputy chief of the PLA, General Gezen-feng, visited Delhi and met the top brass of the defence establishment.
An India-China army drill that was begun in 2007 and was said to be an annual event is not taking place this year.
New Delhi, Dec. 8: China’s army commander for Tibet is being hosted by the Indian Army in its Eastern Command in Fort William, Calcutta, this week in a confidence-building measure that both sides hope will keep channels of communication open on border disputes.
Lieutenant General Shu Yu Tai, chief of the Peoples’ Liberation Army’s Tibet Military Region Command, has come three months after India’s eastern army commander, Lieutenant General V.K. Singh, visited Tibet and was also taken to Lhasa at the head of an Indian military delegation.
General Shu will also visit the headquarters of the 33 Corps in Sukna, north Bengal. Troops of the 33 Corps are deployed at the border with China in Sikkim.
The general was in Kathmandu just before reaching Calcutta. He leaves December 11.
“This is a goodwill visit. Our generals have also been hosted by the PLA in Tibet,” an army headquarters source said in New Delhi.
On the week-long visit to Tibet, Lt Gen V.K. Singh was accompanied by the commander of the Tezpur-headquartered 4 Corps that is dual-tasked on the China border in Arunachal and also for counter-insurgency in Assam. Gen Singh’s area of responsibility covers the entire front with China from Sikkim to Arunachal Pradesh, including Bhutan.
Gen Shu’s visit to India coincides with the tour by another delegation of military officers from China’s National Defence University. Last week, the deputy chief of the PLA, General Gezen-feng, visited Delhi and met the top brass of the defence establishment.
An India-China army drill that was begun in 2007 and was said to be an annual event is not taking place this year.
Earth's biggest flood formed Mediterranean
Catastrophic flooding caused sea levels to rise by ten metres a day, according to new research
The Mediterranean was formed by the most spectacular flood in Earth's history when water from the Atlantic Ocean breached the mountain range joining Europe and Africa with the force of a thousand Amazon rivers, scientists say.
The devastating surge lasted as long as two years and at its peak caused the level of the Mediterranean to rise by more than ten metres a day. The floodwaters moved at more than 100 kilometres per hour and created scars on the seabed that are still visible today.
The deluge was triggered 5.3m years ago by subsidence in the seabed that caused a land ridge between the Atlantic and the Mediterranean basin to collapse. The ridge linked the Betic and Rif mountain ranges that hug the coasts of modern Spain and Morocco.
As water began to pour across the strait, it eroded the ridge until the flow became a catastrophic deluge. At the time, the Mediterranean basin was an almost entirely dry expanse of low lying land, between 1.5km and 2.7km beneath today's sea level.
The surge of water created a channel several kilometres wide that would become the Strait of Gibraltar. "The flow of water increased rapidly until it was truly catastrophic," said Daniel Garcia-Castellanos, a geophysicist at the Institute of Earth Science Jaume Almera in Barcelona.
The slope to the Mediterranean was about two degrees, he reported in the magazine Nature. "The column of water going down that slope was several hundred metres deep, and in a channel like this would have reached speeds of more than 100km per hour."
A team led by Garcia-Castellanos used data from boreholes and seismic surveys in the area to reconstruct the deluge conditions in a computer model.
Subsidence in the sea floor at the strait allowed water from the Atlantic to pour slowly into the Mediterranean basin for several thousand years, before the flow became a powerful surge that filled 90% of the Mediterranean very rapidly - between a few months and two years.
The floodwater discharged around 100m cubic metres of water every second, creating a 200km-long channel across the strait. Today, the Mediterranean contains 4m cubic kilometres of water.
Source:Guardian News & Media 2009
Catastrophic flooding caused sea levels to rise by ten metres a day, according to new research
The Mediterranean was formed by the most spectacular flood in Earth's history when water from the Atlantic Ocean breached the mountain range joining Europe and Africa with the force of a thousand Amazon rivers, scientists say.
The devastating surge lasted as long as two years and at its peak caused the level of the Mediterranean to rise by more than ten metres a day. The floodwaters moved at more than 100 kilometres per hour and created scars on the seabed that are still visible today.
The deluge was triggered 5.3m years ago by subsidence in the seabed that caused a land ridge between the Atlantic and the Mediterranean basin to collapse. The ridge linked the Betic and Rif mountain ranges that hug the coasts of modern Spain and Morocco.
As water began to pour across the strait, it eroded the ridge until the flow became a catastrophic deluge. At the time, the Mediterranean basin was an almost entirely dry expanse of low lying land, between 1.5km and 2.7km beneath today's sea level.
The surge of water created a channel several kilometres wide that would become the Strait of Gibraltar. "The flow of water increased rapidly until it was truly catastrophic," said Daniel Garcia-Castellanos, a geophysicist at the Institute of Earth Science Jaume Almera in Barcelona.
The slope to the Mediterranean was about two degrees, he reported in the magazine Nature. "The column of water going down that slope was several hundred metres deep, and in a channel like this would have reached speeds of more than 100km per hour."
A team led by Garcia-Castellanos used data from boreholes and seismic surveys in the area to reconstruct the deluge conditions in a computer model.
Subsidence in the sea floor at the strait allowed water from the Atlantic to pour slowly into the Mediterranean basin for several thousand years, before the flow became a powerful surge that filled 90% of the Mediterranean very rapidly - between a few months and two years.
The floodwater discharged around 100m cubic metres of water every second, creating a 200km-long channel across the strait. Today, the Mediterranean contains 4m cubic kilometres of water.
Source:Guardian News & Media 2009
Wednesday, December 9, 2009
Exemption from the purview of Central Income Tax, Nagrik Sangharsha Samiti
Press Release
Nagrik Sangharsha Samiti
Above Sri Niketan Mahatma Gandhi Marg, Gangtok, Sikkim
Ph- 03592-204008 Cell No: 09434109760, 09212974355
To,
The Chief Secretary
Government of Sikkim
Tashiling Secretariat
Gangtok 737 101
Sikkim.
Date: 07/12/09
Sub: Exemption from the purview of Central Income Tax
Sir:
With reference to the Notification No. 102/CT/20009 dated 23rd. June, 2009, I, on behalf of the Nagarik Sangharsha Samiti of Sikkim submitted a written representation dated August 29, 2009 and delivered the same personally in your office. A copy of the said letter is attached herewith for your ready reference.
From the contents of the Minutes of the Meeting held in your chamber on 08.10.2009 and signed by the Member Secretary Shri H.B. Rai, it is prima facie clear that the Committee constituted to consider exemption from the purview of Central Income Tax to left out individuals has not taken into consideration the contents of my representation and annexures thereto and ignored the same there by perpetuating injustice to all such persons (barring foreigners) residing in Sikkim before 26 April,1975. The Samiti expected a fair hearing before the Committee which is a normal administrative procedure in any democratic system.
I have carefully perused the contents of paragraph 2 of the Minutes of the Meeting of the aforesaid Committee. It is categorically stated therein that “there was no provision in the
Income Tax Act, 1961 for grant of income tax exemption to the left out individuals in the State of Sikkim”. As far as I am aware, there was no provision in the Income Tax Act,1961 for grant of income tax exemption to the erstwhile Sikkim Subject holders until Sec.10 of the Act was amended by the Finance Act,2008 which inserted 26AAA.
The exemption granted to the erstwhile Sikkim Subject holders and others covered by Government of India Order No.26030/36/90-I ICI dated 7.8.1990 and 8.4.1991, is based on the Cabinet Memorandum No.06/Fin/Adm. dated 21.08.2007 the contents whereof are well within your knowledge as the same was signed by you as Additional Chief Secretary and Secretary-in-Charge, Finance, Revenue and Expenditure Department of the State Government ( A copy of the same is attached herewith for ready reference).
The question of tax exemption was a long-pending political demand of the State of Sikkim and that the same has been agreed to and granted by the Centre under Sec.26AAA discriminating all such persons residing in the State before April 26, 1975.
While pressing for tax exemption, the State Government appears to have totally forgotten the legitimate and genuine demands and expectations of all such persons (barring foreigners) who stood at par and became equal with the erstwhile Sikkim Subject holders as on April 26, 1975.
The Nagarik Sangharsha Samiti of Sikkim urges the State Government to put forward the case of the left out persons residing in Sikkim before April 26, 1975 for income tax exemption in the same manner in which tax exemption was secured for the erstwhile Sikkim Subject holders. This political demand is justified, legitimate and consistent with the role played by all such persons in the all-round development of Sikkim being equal in all respects.
Last but not the least, the tax recovery process initiated by the ITO, Ward: Sikkim State, through individual notices calling for the filing of returns for the assessment years 2008-9 and 2009-10 be forthwith stayed pending the consideration of our demand for tax exemption and equal treatment with the beneficiaries under Sec.26AAA.
We further request that the Circular bearing No.14/Fin/Adm. Dated 12.11.2009 directing all government departments/agencies and authorities to initiate the process of TDS with effect from December, 2009 be similarly stayed and kept in abeyance till our demand is conceded to by the State and the Central Government through suitable amendment of the applicable law.
Thanking you,
Yours faithfully,
( Prem Goyal)
Chief Coordinator
Encl: 1) letter dated 29/08/09
2) Minutes of the meeting dtd 08/10/09
3) Cabinet memo no. 06/Fin/Adm dtd 21/08/2007
-----------------------------------------------------------------------------------
nawin kiran says:
December 9, 2009 at 11:33 am
I have been so called exempted from paying Central Income Tax Act, 1961. If it was so, I would have been sitting at home and praising Mr. Chamling. But I am not doing that because I know implementing Central Direct Taxes in has violated Article 371-F.
Hence, I am rather disappointed with the Old Settlers Association. NSS etc. they should have voiced along with us (ASESE&UA) and said “Direct Taxes should not be implemented at Sikkim at all”.
Press Release
Nagrik Sangharsha Samiti
Above Sri Niketan Mahatma Gandhi Marg, Gangtok, Sikkim
Ph- 03592-204008 Cell No: 09434109760, 09212974355
To,
The Chief Secretary
Government of Sikkim
Tashiling Secretariat
Gangtok 737 101
Sikkim.
Date: 07/12/09
Sub: Exemption from the purview of Central Income Tax
Sir:
With reference to the Notification No. 102/CT/20009 dated 23rd. June, 2009, I, on behalf of the Nagarik Sangharsha Samiti of Sikkim submitted a written representation dated August 29, 2009 and delivered the same personally in your office. A copy of the said letter is attached herewith for your ready reference.
From the contents of the Minutes of the Meeting held in your chamber on 08.10.2009 and signed by the Member Secretary Shri H.B. Rai, it is prima facie clear that the Committee constituted to consider exemption from the purview of Central Income Tax to left out individuals has not taken into consideration the contents of my representation and annexures thereto and ignored the same there by perpetuating injustice to all such persons (barring foreigners) residing in Sikkim before 26 April,1975. The Samiti expected a fair hearing before the Committee which is a normal administrative procedure in any democratic system.
I have carefully perused the contents of paragraph 2 of the Minutes of the Meeting of the aforesaid Committee. It is categorically stated therein that “there was no provision in the
Income Tax Act, 1961 for grant of income tax exemption to the left out individuals in the State of Sikkim”. As far as I am aware, there was no provision in the Income Tax Act,1961 for grant of income tax exemption to the erstwhile Sikkim Subject holders until Sec.10 of the Act was amended by the Finance Act,2008 which inserted 26AAA.
The exemption granted to the erstwhile Sikkim Subject holders and others covered by Government of India Order No.26030/36/90-I ICI dated 7.8.1990 and 8.4.1991, is based on the Cabinet Memorandum No.06/Fin/Adm. dated 21.08.2007 the contents whereof are well within your knowledge as the same was signed by you as Additional Chief Secretary and Secretary-in-Charge, Finance, Revenue and Expenditure Department of the State Government ( A copy of the same is attached herewith for ready reference).
The question of tax exemption was a long-pending political demand of the State of Sikkim and that the same has been agreed to and granted by the Centre under Sec.26AAA discriminating all such persons residing in the State before April 26, 1975.
While pressing for tax exemption, the State Government appears to have totally forgotten the legitimate and genuine demands and expectations of all such persons (barring foreigners) who stood at par and became equal with the erstwhile Sikkim Subject holders as on April 26, 1975.
The Nagarik Sangharsha Samiti of Sikkim urges the State Government to put forward the case of the left out persons residing in Sikkim before April 26, 1975 for income tax exemption in the same manner in which tax exemption was secured for the erstwhile Sikkim Subject holders. This political demand is justified, legitimate and consistent with the role played by all such persons in the all-round development of Sikkim being equal in all respects.
Last but not the least, the tax recovery process initiated by the ITO, Ward: Sikkim State, through individual notices calling for the filing of returns for the assessment years 2008-9 and 2009-10 be forthwith stayed pending the consideration of our demand for tax exemption and equal treatment with the beneficiaries under Sec.26AAA.
We further request that the Circular bearing No.14/Fin/Adm. Dated 12.11.2009 directing all government departments/agencies and authorities to initiate the process of TDS with effect from December, 2009 be similarly stayed and kept in abeyance till our demand is conceded to by the State and the Central Government through suitable amendment of the applicable law.
Thanking you,
Yours faithfully,
( Prem Goyal)
Chief Coordinator
Encl: 1) letter dated 29/08/09
2) Minutes of the meeting dtd 08/10/09
3) Cabinet memo no. 06/Fin/Adm dtd 21/08/2007
-----------------------------------------------------------------------------------
nawin kiran says:
December 9, 2009 at 11:33 am
I have been so called exempted from paying Central Income Tax Act, 1961. If it was so, I would have been sitting at home and praising Mr. Chamling. But I am not doing that because I know implementing Central Direct Taxes in has violated Article 371-F.
Hence, I am rather disappointed with the Old Settlers Association. NSS etc. they should have voiced along with us (ASESE&UA) and said “Direct Taxes should not be implemented at Sikkim at all”.
Development of Highways in North-East States
--------------------------------------------------------------------------------
13:39 IST
Rajya Sabha
In addition to annual plan allocations for roads and highways for North Eastern States, a special package called Special Accelerated Road Development Program for North Eastern States (SARDP-NE) has been approved by Government covering improvement/construction of 9940 km of length of National Highways and State roads. The program has been divided into 3 parts, i.e. Phase ‘A’, Phase ‘B’ and Arunachal Pradesh Package of Roads and Highways. Under SARDP-NE, the State wise length of road in Arunachal Pradesh is 3414 km.; Assam – 1741 km; Manipur- 297 km; Meghalaya - 822 km; Mizoram - 1009 km; Nagaland - 1272 km; Sikkim - 589 km; and Tripura - 796 km.
Under National Highway Development Project (NHDP)–II, 4-laning of 678 km of National Highway from Srirampur to Silchar in Assam has been taken up as part of the East West corridor at an investment of about Rs 6000 crore . Under NHDP Phase-III, 4-laning of 706 km stretches of National Highways has been included on BOT (Toll) basis.
The above information was provided by Shri R.P.N.Singh, Minister of State for Road Transport and Highways in the Rajya Sabha today.
--------------------------------------------------------------------------------
13:39 IST
Rajya Sabha
In addition to annual plan allocations for roads and highways for North Eastern States, a special package called Special Accelerated Road Development Program for North Eastern States (SARDP-NE) has been approved by Government covering improvement/construction of 9940 km of length of National Highways and State roads. The program has been divided into 3 parts, i.e. Phase ‘A’, Phase ‘B’ and Arunachal Pradesh Package of Roads and Highways. Under SARDP-NE, the State wise length of road in Arunachal Pradesh is 3414 km.; Assam – 1741 km; Manipur- 297 km; Meghalaya - 822 km; Mizoram - 1009 km; Nagaland - 1272 km; Sikkim - 589 km; and Tripura - 796 km.
Under National Highway Development Project (NHDP)–II, 4-laning of 678 km of National Highway from Srirampur to Silchar in Assam has been taken up as part of the East West corridor at an investment of about Rs 6000 crore . Under NHDP Phase-III, 4-laning of 706 km stretches of National Highways has been included on BOT (Toll) basis.
The above information was provided by Shri R.P.N.Singh, Minister of State for Road Transport and Highways in the Rajya Sabha today.
$28 million package for Sikkim tourism from ADB
GANGTOK, December 8: The Asian Development Bank (ADB) in its November 16th meeting has sanctioned a 89.5 million US dollar project for improving connectivity and infrastructure in the Indian subcontinent consisting areas of India, Bangladesh and Nepal to promote nature and culture based tourism.
Of the total cost of US$89.5 million, US$28 million will be spent in Sikkim, a IPR release informs.
During the discussions, the board members of ADB welcomed this sub- regional initiative, which is the first of its kind in the region, and underlined the importance of ensuring cross-border travel facilitation, co-ordination across countries, local community participation for inclusive growth and the need for ensuring preservation of cultural heritage as the tourist volumes pick up.
The amount sanctioned for Sikkim is to develop the hill State as Buddhist circuit and the creditline is specifically aimed at developing Buddhist sites in Sikkim. The State tourism department will act as the executing agency and project is likely to be completed by September 2014.
As reported by Sikkim Express on November 19, the concept clearance for the project ‘South Asia Tourism Infrastructure Development Project – India’ was given by ADB on September 30, 2008 after the fact finding mission took place from September 1, 2008 to September 6, 2008. The appraisal of the report was done in February-March earlier this year before the project was cleared by the board on November 16.
In the South Asia tourism infrastructure development project component of India, the project focuses on Sikkim where the report points out that Sikkim has a good road connection to Bagdogra, a regional hub and an airport site with potential links to North Bangladesh, East Nepal, Bhutan, and other North Eastern states.
Sikkim is part of the sub-regional Buddhist circuit and the Great Himalayan Trail, the ADB project states adding that the State has been experiencing high tourism growth rates at an average of 15% per annum at the aggregate, with international increase at 10% per year.
The ADB project for the Sikkim state of India involves creation of access and on site infrastructure and visitor facility improvements to well known Rumtek monastery, nature based tourism destination infrastructure and facilities including trail development, signages, sanitation improvements and other tourist facilities. Funds would be utilized for setting up a sub-regional training institute to be specialized in ecotourism and mountaineering in Sikkim and also for related capacity building activities for public sector institutions and communities in tourism and heritage management.
Of late Sikkim has been attracting international interest as a Buddhist circuit hub thanks to the initiatives taken by the State government to promote Sikkim as an all-round tourist destination. The State government has already set up the world highest statue of Guru Pamdasambhava at Samdruptse in Namchi, South Sikkim.
Presently, works are going on a warfooting to complete the Sakyamuni project which envisages installation of the statue of Lord Buddha at Manichokerling monastery in Rabong, South Sikkim. The statue in a sitting position would be of 148 feet from the base to the top including the throne and is expected to be the highest Buddha statue in the world.
The project is expected to complete by next year.
Already the project has garnered international attention when thirteen relics of Lord Buddha from 13 different countries were handed over to the Sakyamuni project on November 25 last year by the team of Thai monks led by the Venerable Jamnian Chonsakhorn Seelasettho, the chief of priests of the Thai monastery leading the delegation. The relics had been offered by Somdet Phra Nyanasaamvara, the 19th Supreme patriarch of the kingdom of Thailand.
GANGTOK, December 8: The Asian Development Bank (ADB) in its November 16th meeting has sanctioned a 89.5 million US dollar project for improving connectivity and infrastructure in the Indian subcontinent consisting areas of India, Bangladesh and Nepal to promote nature and culture based tourism.
Of the total cost of US$89.5 million, US$28 million will be spent in Sikkim, a IPR release informs.
During the discussions, the board members of ADB welcomed this sub- regional initiative, which is the first of its kind in the region, and underlined the importance of ensuring cross-border travel facilitation, co-ordination across countries, local community participation for inclusive growth and the need for ensuring preservation of cultural heritage as the tourist volumes pick up.
The amount sanctioned for Sikkim is to develop the hill State as Buddhist circuit and the creditline is specifically aimed at developing Buddhist sites in Sikkim. The State tourism department will act as the executing agency and project is likely to be completed by September 2014.
As reported by Sikkim Express on November 19, the concept clearance for the project ‘South Asia Tourism Infrastructure Development Project – India’ was given by ADB on September 30, 2008 after the fact finding mission took place from September 1, 2008 to September 6, 2008. The appraisal of the report was done in February-March earlier this year before the project was cleared by the board on November 16.
In the South Asia tourism infrastructure development project component of India, the project focuses on Sikkim where the report points out that Sikkim has a good road connection to Bagdogra, a regional hub and an airport site with potential links to North Bangladesh, East Nepal, Bhutan, and other North Eastern states.
Sikkim is part of the sub-regional Buddhist circuit and the Great Himalayan Trail, the ADB project states adding that the State has been experiencing high tourism growth rates at an average of 15% per annum at the aggregate, with international increase at 10% per year.
The ADB project for the Sikkim state of India involves creation of access and on site infrastructure and visitor facility improvements to well known Rumtek monastery, nature based tourism destination infrastructure and facilities including trail development, signages, sanitation improvements and other tourist facilities. Funds would be utilized for setting up a sub-regional training institute to be specialized in ecotourism and mountaineering in Sikkim and also for related capacity building activities for public sector institutions and communities in tourism and heritage management.
Of late Sikkim has been attracting international interest as a Buddhist circuit hub thanks to the initiatives taken by the State government to promote Sikkim as an all-round tourist destination. The State government has already set up the world highest statue of Guru Pamdasambhava at Samdruptse in Namchi, South Sikkim.
Presently, works are going on a warfooting to complete the Sakyamuni project which envisages installation of the statue of Lord Buddha at Manichokerling monastery in Rabong, South Sikkim. The statue in a sitting position would be of 148 feet from the base to the top including the throne and is expected to be the highest Buddha statue in the world.
The project is expected to complete by next year.
Already the project has garnered international attention when thirteen relics of Lord Buddha from 13 different countries were handed over to the Sakyamuni project on November 25 last year by the team of Thai monks led by the Venerable Jamnian Chonsakhorn Seelasettho, the chief of priests of the Thai monastery leading the delegation. The relics had been offered by Somdet Phra Nyanasaamvara, the 19th Supreme patriarch of the kingdom of Thailand.
East Rathong glacier enlisted for long term glacier study
GANGTOK, December 8: As the entire world gets together to tackling the burning issue of global warming, the East Rathong glacier of Sikkim has been enlisted as the index glacier by the Ministry of Science and Technology, Government of India for a long term glacier study.
Rathong glacier would be one of the ten important glaciers in India which will be intensely studied by the environment scientists in combating global warming.
Other glaciers identified are from the states of Jammu and Kashmir, Himachal Pradesh and Uttarkhand.
Informing this, the State Science and Technology Secretary LM Arrawatia said that Sikkim was the first to express concern on the degrading environment in the country by forming commission on glaciers and climate change.
“The Government of India has provided priority to this sector of glacier study for which they will be providing monitoring fund. The study would comprise of the report of 1997-2004 with the present data through satellite pictures of the glacier,” Mr. Arrawatia told SIKKIM EXPRESS.
He added that the department will work in coordination with National Glacier Centre, Dehradun and other national research institutes.
The glaciers study, it is informed is being carried out jointly with the national scholars of space application centre at Indian research organization, Ahmadabad.
It was further informed that a project on an integrated programme on dynamics of glaciers in Himalayas was submitted by DG Shrestha, Sikkim State Council of Science Centre to the senior scientific officer in the Ministry but the government of India wanted more coordinated approach for the study of the Himalayan project.
The statistics of Department of Science and Technology identifies 84 glaciers in Sikkim.
GANGTOK, December 8: As the entire world gets together to tackling the burning issue of global warming, the East Rathong glacier of Sikkim has been enlisted as the index glacier by the Ministry of Science and Technology, Government of India for a long term glacier study.
Rathong glacier would be one of the ten important glaciers in India which will be intensely studied by the environment scientists in combating global warming.
Other glaciers identified are from the states of Jammu and Kashmir, Himachal Pradesh and Uttarkhand.
Informing this, the State Science and Technology Secretary LM Arrawatia said that Sikkim was the first to express concern on the degrading environment in the country by forming commission on glaciers and climate change.
“The Government of India has provided priority to this sector of glacier study for which they will be providing monitoring fund. The study would comprise of the report of 1997-2004 with the present data through satellite pictures of the glacier,” Mr. Arrawatia told SIKKIM EXPRESS.
He added that the department will work in coordination with National Glacier Centre, Dehradun and other national research institutes.
The glaciers study, it is informed is being carried out jointly with the national scholars of space application centre at Indian research organization, Ahmadabad.
It was further informed that a project on an integrated programme on dynamics of glaciers in Himalayas was submitted by DG Shrestha, Sikkim State Council of Science Centre to the senior scientific officer in the Ministry but the government of India wanted more coordinated approach for the study of the Himalayan project.
The statistics of Department of Science and Technology identifies 84 glaciers in Sikkim.
TAAS seeks MoT support to develop skiing tourism in Sikkim
BIJOY GURUNG
GANGTOK, December 8: Eyeing to add another dimension to the multifaceted tourism of Sikkim, the apex body of tour operators here Travel Agents Association of Sikkim (TAAS) has urged upon the Ministry of Tourism (MoT) for support to develop skiing infrastructure in the higher altitudes of East and North districts.
In a representation submitted to Union Tourism Minister Kumari Selja during her three day trip to Sikkim which concluded yesterday, TAAS informed that the body has successfully introduced skiing sports in North Sikkim to promote winter tourism since the last two years.
A four member delegation of TAAS led by president Pajlor Lachungpa along with general secretary Lukendra Rasaily, vice president Sailesh Pradhan and joint secretary Arun Bhagat had called on the visiting Union Minister on December 5 evening here at Gangtok.
Informing the Union Minister of the successful introduction of skiing sports in North Sikkim, the TAAS pointed out that it has some constraints in acquiring the good quality equipments and also development of slopes, ski-lifts, huts and other amenities.
As such infrastructure are essential to promote and conduct high quality winter sports, we would be grateful if the Ministry could grant the State with funds to create necessary infrastructure especially in Yumthang area in North Sikkim and Kupup in East Sikkim, TAAS said. It also expressed its readiness to submit a detailed project report on the subject.
Similarly, TAAS also took up the issue for declaration of Bagdogra airport as a SAARC airport. The Druk Air of Royal Bhutan Airlines has been presently allowed to fly international flights between Paro in Bhutan, Bagdogra in Siliguri and Bangkok in Thailand.
The TAAS reiterated that the Bagdogra airport to be declared as an international airport or at least as SAARC airport as the airport can cater to the international clients.
“While doing the verbal inquires as far as demands and supply trends are concerned, our counterparts and people in general have found there a tremendous customer support base”, said TAAS. It further pointed out that the Union government has placed floriculture as export oriented business for the region and such initiative to upgrade Bagdogra airport as SAARC airpot will definitely invite prompt deliveries of the products globally.
The TAAS also requested the Union Minister for extension of Restricted and Protected Area Permit in North Sikkim for 5 days to 20 days. As of now, foreign tourists are allowed to be in North Sikkim beyond Toong checkpost for 5 days only, which is not enough for them to enjoy all the tourist spots that the Union government has opened in recent past, TAAS said. It requested the Union Minister to take up this matter with the Ministry of Home Affairs to have the permitted number of days from 5 to 20 days.
The apex body of tour operators in Sikkim also highlighted the untapped tourism potential of the Tsogmo Lake-Kupup-Rongli-Aritar-Rhenock circuit in East Sikkim and sought the Ministry’s support to allow even the foreign tourists to travel through this fascinating route.
“As it is a highly potential destination, this area would definitely attract international quality tourism. This will help in growth of socio-economic development in the area”, TAAS said. It also requested to have the Reshi outpost in East Sikkim as entry or exit point for foreign nationals.
The body also requested to open Gurudongmar Lake in North Sikkim for foreign tourists. “As this destination, Gurudongmar Lake is highly potential with its natural beauty; there is a high demand even from foreign tourists visiting Sikkim and they too intend to visit this pristine lake but unfortunately they have to go back with disappointment for not having been able to visit there”, it said.
The TAAS requested for allowing foreign tourists to visit Gurudongmar Lake through the guided tour organized by the travel agents or tour operators who are registered with the State Tourism department for the safety and security of clients as well as of the nation.
Another key area where the MoT could intervene was in the simplification of Green Lake permit system as the Green Lake trek in North Sikkim is a major destination for adventure seekers in Sikkim. Permits for this trek are given by Ministry of Home Affairs which is time consuming generally taking two months, pointed out TAAS requesting the MoT to simply process by empowering the State Home department along with the Army head office based in Gangtok to issue the permit and help in promoting the budding destination even better.
The TAAS also sought for more financial aid for development of quality infrastructure in the State which will not only promote quality tourism in the State but also solve to certain extent the unemployment problems by providing various job opportunities.
Another key point raised by the tourism stakeholder was setting up a proper rescue operation system in Sikkim with support from the MoT. The TAAS requested the Union Minister to provide proper rescue operation training in Sikkim along with the necessary rescue gears and equipments to enable the tour operators in helping the resuce and evacuation during such tourist mishaps in low and high altitude areas in Sikkim.
BIJOY GURUNG
GANGTOK, December 8: Eyeing to add another dimension to the multifaceted tourism of Sikkim, the apex body of tour operators here Travel Agents Association of Sikkim (TAAS) has urged upon the Ministry of Tourism (MoT) for support to develop skiing infrastructure in the higher altitudes of East and North districts.
In a representation submitted to Union Tourism Minister Kumari Selja during her three day trip to Sikkim which concluded yesterday, TAAS informed that the body has successfully introduced skiing sports in North Sikkim to promote winter tourism since the last two years.
A four member delegation of TAAS led by president Pajlor Lachungpa along with general secretary Lukendra Rasaily, vice president Sailesh Pradhan and joint secretary Arun Bhagat had called on the visiting Union Minister on December 5 evening here at Gangtok.
Informing the Union Minister of the successful introduction of skiing sports in North Sikkim, the TAAS pointed out that it has some constraints in acquiring the good quality equipments and also development of slopes, ski-lifts, huts and other amenities.
As such infrastructure are essential to promote and conduct high quality winter sports, we would be grateful if the Ministry could grant the State with funds to create necessary infrastructure especially in Yumthang area in North Sikkim and Kupup in East Sikkim, TAAS said. It also expressed its readiness to submit a detailed project report on the subject.
Similarly, TAAS also took up the issue for declaration of Bagdogra airport as a SAARC airport. The Druk Air of Royal Bhutan Airlines has been presently allowed to fly international flights between Paro in Bhutan, Bagdogra in Siliguri and Bangkok in Thailand.
The TAAS reiterated that the Bagdogra airport to be declared as an international airport or at least as SAARC airport as the airport can cater to the international clients.
“While doing the verbal inquires as far as demands and supply trends are concerned, our counterparts and people in general have found there a tremendous customer support base”, said TAAS. It further pointed out that the Union government has placed floriculture as export oriented business for the region and such initiative to upgrade Bagdogra airport as SAARC airpot will definitely invite prompt deliveries of the products globally.
The TAAS also requested the Union Minister for extension of Restricted and Protected Area Permit in North Sikkim for 5 days to 20 days. As of now, foreign tourists are allowed to be in North Sikkim beyond Toong checkpost for 5 days only, which is not enough for them to enjoy all the tourist spots that the Union government has opened in recent past, TAAS said. It requested the Union Minister to take up this matter with the Ministry of Home Affairs to have the permitted number of days from 5 to 20 days.
The apex body of tour operators in Sikkim also highlighted the untapped tourism potential of the Tsogmo Lake-Kupup-Rongli-Aritar-Rhenock circuit in East Sikkim and sought the Ministry’s support to allow even the foreign tourists to travel through this fascinating route.
“As it is a highly potential destination, this area would definitely attract international quality tourism. This will help in growth of socio-economic development in the area”, TAAS said. It also requested to have the Reshi outpost in East Sikkim as entry or exit point for foreign nationals.
The body also requested to open Gurudongmar Lake in North Sikkim for foreign tourists. “As this destination, Gurudongmar Lake is highly potential with its natural beauty; there is a high demand even from foreign tourists visiting Sikkim and they too intend to visit this pristine lake but unfortunately they have to go back with disappointment for not having been able to visit there”, it said.
The TAAS requested for allowing foreign tourists to visit Gurudongmar Lake through the guided tour organized by the travel agents or tour operators who are registered with the State Tourism department for the safety and security of clients as well as of the nation.
Another key area where the MoT could intervene was in the simplification of Green Lake permit system as the Green Lake trek in North Sikkim is a major destination for adventure seekers in Sikkim. Permits for this trek are given by Ministry of Home Affairs which is time consuming generally taking two months, pointed out TAAS requesting the MoT to simply process by empowering the State Home department along with the Army head office based in Gangtok to issue the permit and help in promoting the budding destination even better.
The TAAS also sought for more financial aid for development of quality infrastructure in the State which will not only promote quality tourism in the State but also solve to certain extent the unemployment problems by providing various job opportunities.
Another key point raised by the tourism stakeholder was setting up a proper rescue operation system in Sikkim with support from the MoT. The TAAS requested the Union Minister to provide proper rescue operation training in Sikkim along with the necessary rescue gears and equipments to enable the tour operators in helping the resuce and evacuation during such tourist mishaps in low and high altitude areas in Sikkim.
State Govt has perpetuated injustice to left outs: Prem Goyal
Sikkim Express Report
GANGTOK, December 8: The Nagrik Sangharsha Samiti (NSS) chief coordinator Prem Goyal has shot off an angry protest letter to the State government accusing it of perpetuating injustice to the left out individuals of Sikkim over the income tax exemption issue.
In a representation to State Chief Secretary, Goyal slammed the conclusions of the committee constituted by the State government to look into the old settlers’ demand for income tax exemption at par with the Sikkim subject holders. ‘It is prima facie clear that the committee has not taken into considerations the contents of my earlier representation of August 29 and ignored the same by perpetuating injustice to the left out individuals, barring foreigners, residing in Sikkim before April 26, 1975’, he said. “The NSS expected a fair hearing before the committee which is a normal administrative procedure in any democratic system”, said the chief coordinator.
Regarding the committee observations that there was no provision in the Income Tax Act, 1961 for grant of income tax exemption to the left out individuals in State of Sikkim, Goyel countered by stating that ‘there was no provision in the Income Tax Act, 1961 for grant of income tax exemption to the erstwhile Sikkim Subject holders until Sec.10 of the Act was amended by the Finance Act, 2008 which inserted 26AAA’.
“The exemption granted to the erstwhile Sikkim Subject holders and others covered by Government of India Order No.26030/36/90-I ICI dated 7.8.1990 and 8.4.1991, is based on the Cabinet Memorandum No.06/Fin/Adm. dated 21.08.2007 the contents whereof are well within your knowledge as the same was signed by you as Additional Chief Secretary and Secretary-in-Charge, Finance, Revenue and Expenditure Department of the State Government”, told Goyel to the Chief Secretary.
“The question of tax exemption was a long-pending political demand of the State of Sikkim and that the same has been agreed to and granted by the Centre under Sec.26AAA discriminating all such persons residing in the State before April 26, 1975. While pressing for tax exemption, the State Government appears to have totally forgotten the legitimate and genuine demands and expectations of all such persons (barring foreigners) who stood at par and became equal with the erstwhile Sikkim Subject holders as on April 26, 1975”, said Goyal.
The NSS chief coordinator urged the Sate to put forward the case of the left out persons residing in Sikkim before April 26, 1975 for income tax exemption in the same manner in which tax exemption was secured for the erstwhile Sikkim Subject holders. This political demand is justified, legitimate and consistent with the role played by all such persons in the all-round development of Sikkim being equal in all respects, he said.
Goyal further requested that the Finance circular directing all government departments/agencies and authorities to initiate the process of Tax Deduction at Source with effect from December, 2009 be stayed and kept in abeyance till NSS’s demand is conceded to by the State and the Central Government through suitable amendment of the applicable law.
Sikkim Express Report
GANGTOK, December 8: The Nagrik Sangharsha Samiti (NSS) chief coordinator Prem Goyal has shot off an angry protest letter to the State government accusing it of perpetuating injustice to the left out individuals of Sikkim over the income tax exemption issue.
In a representation to State Chief Secretary, Goyal slammed the conclusions of the committee constituted by the State government to look into the old settlers’ demand for income tax exemption at par with the Sikkim subject holders. ‘It is prima facie clear that the committee has not taken into considerations the contents of my earlier representation of August 29 and ignored the same by perpetuating injustice to the left out individuals, barring foreigners, residing in Sikkim before April 26, 1975’, he said. “The NSS expected a fair hearing before the committee which is a normal administrative procedure in any democratic system”, said the chief coordinator.
Regarding the committee observations that there was no provision in the Income Tax Act, 1961 for grant of income tax exemption to the left out individuals in State of Sikkim, Goyel countered by stating that ‘there was no provision in the Income Tax Act, 1961 for grant of income tax exemption to the erstwhile Sikkim Subject holders until Sec.10 of the Act was amended by the Finance Act, 2008 which inserted 26AAA’.
“The exemption granted to the erstwhile Sikkim Subject holders and others covered by Government of India Order No.26030/36/90-I ICI dated 7.8.1990 and 8.4.1991, is based on the Cabinet Memorandum No.06/Fin/Adm. dated 21.08.2007 the contents whereof are well within your knowledge as the same was signed by you as Additional Chief Secretary and Secretary-in-Charge, Finance, Revenue and Expenditure Department of the State Government”, told Goyel to the Chief Secretary.
“The question of tax exemption was a long-pending political demand of the State of Sikkim and that the same has been agreed to and granted by the Centre under Sec.26AAA discriminating all such persons residing in the State before April 26, 1975. While pressing for tax exemption, the State Government appears to have totally forgotten the legitimate and genuine demands and expectations of all such persons (barring foreigners) who stood at par and became equal with the erstwhile Sikkim Subject holders as on April 26, 1975”, said Goyal.
The NSS chief coordinator urged the Sate to put forward the case of the left out persons residing in Sikkim before April 26, 1975 for income tax exemption in the same manner in which tax exemption was secured for the erstwhile Sikkim Subject holders. This political demand is justified, legitimate and consistent with the role played by all such persons in the all-round development of Sikkim being equal in all respects, he said.
Goyal further requested that the Finance circular directing all government departments/agencies and authorities to initiate the process of Tax Deduction at Source with effect from December, 2009 be stayed and kept in abeyance till NSS’s demand is conceded to by the State and the Central Government through suitable amendment of the applicable law.
On the 75th anniversary of the Reserve Bank of India (RBI), governor D. Subbarao and his predecessors Y.V. Reddy, Bimal Jalan and C. Rangarajan spoke to CNBC-TV18 about the state of the economy and the road ahead.
Inflation threat
Bahl:
There is a fear that we may be on the verge of severe inflationary pressures, especially because there is such a flush of liquidity through the system.
Jalan:
I don't think this is really a liquidity issue. When you are talking about inflation this year, there are a lot of other issues to take into account. Liquidity growth and credit growth etc., has been quite modest. So I would not put my finger on liquidity as part of the inflationary problem. But this will take too long to go on into it--apart from the monetary issues, there are other issues that we have to think about.
Bahl: The extraordinary situation that the global economies are facing because of the extraordinary actions taken by the central banks--how do you see it panning out in the 12-18 months?
Subbarao: This was an extraordinary crisis and central banks around the world responded with unprecedented show of policy force. We know from history that if there is so much of liquidity loose in the system it can engender inflation. There is concern about inflation, but that threat is a bit exaggerated because there is excess capacity, unemployment is high. So the threat of consumer inflation is quite muted around the world. Having said that, if oil prices shoot up, for example, because of the recovery, there could be inflation from the supply side.
What is in fact a bigger threat (is)...if the liquidity goes into assets, there could be asset price inflation and that is what central banks should be guarding against.
Venkatesh: Dr Reddy, are you also as sanguine that inflation will not be such a big issue simply because there is overcapacity elsewhere or do you think that emerging markets maybe a different kettle of fish altogether--asset inflation first and thereafter the consumer price inflation could become a big demon?
Reddy: If there are unutilized capacities, if there are no supply bottlenecks, rigidities, then the threat of inflation is muted and there is no serious threat. First is that one has to make an assessment on these factors. As far as asset price inflation is concerned, that can be a combined effect of domestic liquidity and global capital flows. Capital inflows to emerging market economies and how the two work themselves out in terms of domestic liquidity. So in a way the threat of asset price inflation is serious, but it is contingent upon the way the capital flows and domestic liquidity are managed.
Capital controls Venkatesh: Brazil has shown us the way. They were faced by a real that appreciated 34% and they have enforced capital controls. Do you think that capital controls will have to be something central bankers will have to keep on the table?
Rangarajan: It has to be kept in mind that capital inflows are, generally speaking, welcome, particularly in a developing country. It goes to build the productive capacity and therefore, it is welcome...except when it goes to speculative activities like real estate...
It is also used up in the form of imports and it doesn't create a problem. But as far as the FII (foreign institutional investment) inflows are concerned, they could create a situation in that stock prices begin to rise to a very large extent.
That may not necessarily be a good reflection of the fundamentals. Therefore to some extent, some restrictions on the capital flows may be imposed...
Venkatesh: Let me hark back.
In the latter part of 2007, we did see the Indian government seriously prodded by RBI asking for capital controls. The entire idea of how the participatory notes situation had to be dealt with--getting them controlled, asking FIIs to be registered--would you, on hindsight, agree with those steps?
Subbarao: First of all, I was indeed part of the system. I was the (finance secretary in the Union) government asking the Reserve Bank. What I want to say--because this should be in the public domain--as much as there was discussion and debate between the RBI and the government on capital control, on the basic issue that there must be controls on capital because there was so much of a surge...and that is putting a cost on the economy and that was recognized both in Delhi and in Mumbai. There was of course, quite understandably, differences on what precisely needs to be done and when...but we acted in coordination.
Venkatesh: If the situation of quantitative easing continues even beyond March, which is the self-given timetable in some countries, do you think that those kinds of control will have to be contemplated?
Subbarao: Given the uncertainty in the world and given the number of scenarios in which the macroeconomic situation could evolve--no policy option, including Tobin tax, is off the agenda. In the long list all this is there. The question is what instruments do we use and when? People talk about quantity-based controls and price-based controls and Tobin tax is a price-based control. But we have even now both quantity-based and price-based control from bonds. For example, we have a quantity restriction on how much foreigners can hold and we have a price restriction by way of withholding tax and stamp duty. So we use both instruments; we use both types of instruments and going forward should there be a surge of capital flows, I think we should not rule out an active capital management that we did during 2006. However, I am not well placed at this time to debate on what should precisely be the instruments and timing because that depends on how the situation evolves. (The Tobin tax is named after the economist James Tobin, who suggested it as a penalty on short-term currency speculation.) Jalan: My take on it is that capital control, in principle, is the second best or third best solution. I think you have to think about why is it that capital flows are best but you are thinking about control, why?
This is the simple issue that you have to ask. Why is money not flowing into the banks, why is it going to mutual funds?
Venkatesh: So you are referring to the tax system? Your reasoning is that there is a deliberate tax advantage given to equities, to FIIs?
Jalan: Yes, I think so and we have to face it...
If you find something is going wrong, that you are thinking about capital controls, then don't think about capital controls except as Aspirin. Go behind the question--why is it that your country has $300 billion (around Rs14.01 trillion) of reserves and why is it that we cannot use $150 billion of it for capital investments?
Bahl: Dr Subbarao, what's your take, when these foreign exchange reserves swell--what does it show to you? Is it the inability of the system to handle it? Is it because the system is too conservative and not allowing deployment of that capital? Or is it arbitrage?
Subbarao: There are several issues; first between the real and financial sector. As Dr Jalan said, in India there has been a disconnect between the real and financial sector.
Around the world it's been more so because we all believe that value could be created by sheer financial engineering, now we know that is not correct.
About capital flows--what do capital flows indicate to us?
I tend to agree with what Dr Rangarajan said which is capital flows coming on the back of India's potential and India's promise. There could be bit of tax arbitrage but in a large sense capital flows are coming because India inspires confidence. Now when capital flows are up far in excess of the current account deficit, that shows the lack of absorptive capacity of the economy certainly because we are paying a cost holding those reserves. So I think in the long run or in the medium-term our task is to increase the absorptive capacity of the economy...but until then, we need to calibrate reserves roughly corresponding to current account deficit. Another law is that capital flows never come in precise quantity or the exact time you want them, they are completely different and we have to learn to manage them and that is something we a have been doing for a long time...
Inflation threat
Bahl:
There is a fear that we may be on the verge of severe inflationary pressures, especially because there is such a flush of liquidity through the system.
Jalan:
I don't think this is really a liquidity issue. When you are talking about inflation this year, there are a lot of other issues to take into account. Liquidity growth and credit growth etc., has been quite modest. So I would not put my finger on liquidity as part of the inflationary problem. But this will take too long to go on into it--apart from the monetary issues, there are other issues that we have to think about.
Bahl: The extraordinary situation that the global economies are facing because of the extraordinary actions taken by the central banks--how do you see it panning out in the 12-18 months?
Subbarao: This was an extraordinary crisis and central banks around the world responded with unprecedented show of policy force. We know from history that if there is so much of liquidity loose in the system it can engender inflation. There is concern about inflation, but that threat is a bit exaggerated because there is excess capacity, unemployment is high. So the threat of consumer inflation is quite muted around the world. Having said that, if oil prices shoot up, for example, because of the recovery, there could be inflation from the supply side.
What is in fact a bigger threat (is)...if the liquidity goes into assets, there could be asset price inflation and that is what central banks should be guarding against.
Venkatesh: Dr Reddy, are you also as sanguine that inflation will not be such a big issue simply because there is overcapacity elsewhere or do you think that emerging markets maybe a different kettle of fish altogether--asset inflation first and thereafter the consumer price inflation could become a big demon?
Reddy: If there are unutilized capacities, if there are no supply bottlenecks, rigidities, then the threat of inflation is muted and there is no serious threat. First is that one has to make an assessment on these factors. As far as asset price inflation is concerned, that can be a combined effect of domestic liquidity and global capital flows. Capital inflows to emerging market economies and how the two work themselves out in terms of domestic liquidity. So in a way the threat of asset price inflation is serious, but it is contingent upon the way the capital flows and domestic liquidity are managed.
Capital controls Venkatesh: Brazil has shown us the way. They were faced by a real that appreciated 34% and they have enforced capital controls. Do you think that capital controls will have to be something central bankers will have to keep on the table?
Rangarajan: It has to be kept in mind that capital inflows are, generally speaking, welcome, particularly in a developing country. It goes to build the productive capacity and therefore, it is welcome...except when it goes to speculative activities like real estate...
It is also used up in the form of imports and it doesn't create a problem. But as far as the FII (foreign institutional investment) inflows are concerned, they could create a situation in that stock prices begin to rise to a very large extent.
That may not necessarily be a good reflection of the fundamentals. Therefore to some extent, some restrictions on the capital flows may be imposed...
Venkatesh: Let me hark back.
In the latter part of 2007, we did see the Indian government seriously prodded by RBI asking for capital controls. The entire idea of how the participatory notes situation had to be dealt with--getting them controlled, asking FIIs to be registered--would you, on hindsight, agree with those steps?
Subbarao: First of all, I was indeed part of the system. I was the (finance secretary in the Union) government asking the Reserve Bank. What I want to say--because this should be in the public domain--as much as there was discussion and debate between the RBI and the government on capital control, on the basic issue that there must be controls on capital because there was so much of a surge...and that is putting a cost on the economy and that was recognized both in Delhi and in Mumbai. There was of course, quite understandably, differences on what precisely needs to be done and when...but we acted in coordination.
Venkatesh: If the situation of quantitative easing continues even beyond March, which is the self-given timetable in some countries, do you think that those kinds of control will have to be contemplated?
Subbarao: Given the uncertainty in the world and given the number of scenarios in which the macroeconomic situation could evolve--no policy option, including Tobin tax, is off the agenda. In the long list all this is there. The question is what instruments do we use and when? People talk about quantity-based controls and price-based controls and Tobin tax is a price-based control. But we have even now both quantity-based and price-based control from bonds. For example, we have a quantity restriction on how much foreigners can hold and we have a price restriction by way of withholding tax and stamp duty. So we use both instruments; we use both types of instruments and going forward should there be a surge of capital flows, I think we should not rule out an active capital management that we did during 2006. However, I am not well placed at this time to debate on what should precisely be the instruments and timing because that depends on how the situation evolves. (The Tobin tax is named after the economist James Tobin, who suggested it as a penalty on short-term currency speculation.) Jalan: My take on it is that capital control, in principle, is the second best or third best solution. I think you have to think about why is it that capital flows are best but you are thinking about control, why?
This is the simple issue that you have to ask. Why is money not flowing into the banks, why is it going to mutual funds?
Venkatesh: So you are referring to the tax system? Your reasoning is that there is a deliberate tax advantage given to equities, to FIIs?
Jalan: Yes, I think so and we have to face it...
If you find something is going wrong, that you are thinking about capital controls, then don't think about capital controls except as Aspirin. Go behind the question--why is it that your country has $300 billion (around Rs14.01 trillion) of reserves and why is it that we cannot use $150 billion of it for capital investments?
Bahl: Dr Subbarao, what's your take, when these foreign exchange reserves swell--what does it show to you? Is it the inability of the system to handle it? Is it because the system is too conservative and not allowing deployment of that capital? Or is it arbitrage?
Subbarao: There are several issues; first between the real and financial sector. As Dr Jalan said, in India there has been a disconnect between the real and financial sector.
Around the world it's been more so because we all believe that value could be created by sheer financial engineering, now we know that is not correct.
About capital flows--what do capital flows indicate to us?
I tend to agree with what Dr Rangarajan said which is capital flows coming on the back of India's potential and India's promise. There could be bit of tax arbitrage but in a large sense capital flows are coming because India inspires confidence. Now when capital flows are up far in excess of the current account deficit, that shows the lack of absorptive capacity of the economy certainly because we are paying a cost holding those reserves. So I think in the long run or in the medium-term our task is to increase the absorptive capacity of the economy...but until then, we need to calibrate reserves roughly corresponding to current account deficit. Another law is that capital flows never come in precise quantity or the exact time you want them, they are completely different and we have to learn to manage them and that is something we a have been doing for a long time...
LIFE IN MUTUAL FUND IS NEVER GOING TO SAME AGAIN...
Life on the mutual fund (MF) street is never going to be the same again. After the market regulator, the Securities and Exchange Board of India (Sebi), allowed MFs to be traded on the stock exchanges, the number of Indian cities where you can buy and sell MFs have gone up to about 1,500, up from about 300.
Most MFs take time to ex- pand into India's hinterlands, partly because of the cost of setting up new branches, but mostly because they prefer to focus on the metros and Tier-I cities metros and Tier-I cit to get an easy access t corporate money.
The move to list funds comes barely three months after Sebi abolished entry loads on MF investments. Entry loads were charges, typically 2.25%, that MFs impose at the time of investing. These were eventually passed on to our agents as commissions. These changes won't immediately impact you in terms of a gain or loss, but they will eventually change the way you buy and sell your MF. Buying from exchanges Although all MFs are not yet available at both the stock ex- changes, it's only a matter of time before that happens. Stockbrokers, too, are signing up.
If you already have a demat account, you can simply pick up your phone and place an order with your broker to buy a scheme that you want to buy, just the way you would buy an equity share. If you don't have a demat account, you could walk into any broker's office with forms, Know Your Cus- tomer details like an address and signature proof, PAN card copies and invest.
Apart from buying equity and debt schemes, you'll get a consolidated account state- ment across your equity and MF holdings. At present, liquid funds and systematic investment plans are not available on stock exchanges. But that's only temporary. Remember that your broker needs to be certified by the Association of Mutual Funds of India (Amfi) and has to apply for the trading platform.
Saving costs Every time your MF sends you account statements, it incurs a cost. The same goes for printing application forms.
Now, since you can place an order to buy or redeem your units over the phone, you don't need to fill any forms. MFs also need not send separate account statements, since your MF holdings, as per the new Sebi norms, will get reflected in the statement that your depository par ticipant sends you.
Back of the enveBack of the enve lope numbers show that if the top 15 MFs incur about 2,500 transactions each a day, the total cost incurred to print and dispatch them, as suming the cost of dis patch per statement is Rs15, would amount to about Rs14 crore.
Now if only, say, 30% of these transactions hift to the stock exchange, MFs can save about Rs4.22 crore.
Take the case of new fund offer applications. Assuming 40% of the total transactions happen through new funds and accounting wastage of paper in filling up new forms (assume each investor wastes five forms before getting it right), the top 15 funds spend about Rs28.12 crore. Again, if, say, 30% of these transactions shift to the stock exchange, MFs can save about Rs8.44 crore.
That is not all. At present, MFs are mandated to send an account statement once a year even if the investor has not bought or sold a single unit.
On this count, too, the top 15 MFs spend Rs264.16 crore annually. Again, if 30% of the transactions were to move to the exchanges, MFs gain Rs79.25 crore. (see Lower Costs) Says Amit Trivedi, CEO, Karmayog Knowledge Academy, a Mumbai-based MF training institute, "MFs can either plough the savings back into business or into investor education."
Lower fees The fund houses may not pass on the savings to you, just yet. The 2.5% charge that equity funds impose on you every year--from which they partly recover their marketing, selling and fund management costs--has little scope to drop further, experts say.
Maju A.Nair, associate vice-president (distribution), Sharekhan Ltd, says: "Fund houses will prefer to plough back the savings into their businesses." Here's why.
With Sebi banning entry loads, distributors are now supposed to charge a separate fee from the investors. As a result, distributors' income has taken a hit. In a hurry to compensate them and to ensue they keep pushing funds, many MFs have started paying them out of their own pockets. An industry that has historically suffered low profitability is expected to be further hit since the number of retail folios has not grown much.
The cost that you pay to your agent is expected to drop, though. First, your agent can no longer charge the maximum 2.25% that funds used to charge earlier. The price that your agent will charge you will now depend on the quality of service he can offer you. Second, stockbrokers may not charge you brokerage, at least in the first few months. Says Rakesh Goyal, head (distribution), Bonanza Portfolio Ltd, a Mumbai-based financial services company, "Since MFs pay us upfront as well as trail fees, there isn't much merit in charging a brokerage fee."
Challenges With misselling common in the MF industry, there's a concern whether stockbrokers would be able to dole out the right advice on funds. "I doubt if stockbrokers are equipped to distribute MFs," says Prithvi Haldea, managing director, Prime Database, a primary market monitor. Ashu Suyash, CEO, Fidelity India Asset Management Ltd, disagrees. "It's not fair to generalize. We see stockbrokers offering MFs," he says. Your neighbourhood distributor may vanish if he doesn't pull up his socks and begin to do more than just collecting your signature. As stockbrokers are now allowed to sell MFs along with equities in dematerialized form at low costs, small-time distributors will have to offer you more value for your buck, such as quality advice, services like periodic statements, pick and drop of forms and cheques and regular meetings. The other option for them is to turn to financial planning and help investors channelize their income, plan their taxes and borrowings.
Money Matters says: Keep a close watch of what your mutual fund vendor charges you.
Your costs should be coming down. And remember, the way you buy and sell funds will change soon. Keep reading Money Matters and we'll keep you on top of events and changes as they occur. This industry is currently in transition.
Most MFs take time to ex- pand into India's hinterlands, partly because of the cost of setting up new branches, but mostly because they prefer to focus on the metros and Tier-I cities metros and Tier-I cit to get an easy access t corporate money.
The move to list funds comes barely three months after Sebi abolished entry loads on MF investments. Entry loads were charges, typically 2.25%, that MFs impose at the time of investing. These were eventually passed on to our agents as commissions. These changes won't immediately impact you in terms of a gain or loss, but they will eventually change the way you buy and sell your MF. Buying from exchanges Although all MFs are not yet available at both the stock ex- changes, it's only a matter of time before that happens. Stockbrokers, too, are signing up.
If you already have a demat account, you can simply pick up your phone and place an order with your broker to buy a scheme that you want to buy, just the way you would buy an equity share. If you don't have a demat account, you could walk into any broker's office with forms, Know Your Cus- tomer details like an address and signature proof, PAN card copies and invest.
Apart from buying equity and debt schemes, you'll get a consolidated account state- ment across your equity and MF holdings. At present, liquid funds and systematic investment plans are not available on stock exchanges. But that's only temporary. Remember that your broker needs to be certified by the Association of Mutual Funds of India (Amfi) and has to apply for the trading platform.
Saving costs Every time your MF sends you account statements, it incurs a cost. The same goes for printing application forms.
Now, since you can place an order to buy or redeem your units over the phone, you don't need to fill any forms. MFs also need not send separate account statements, since your MF holdings, as per the new Sebi norms, will get reflected in the statement that your depository par ticipant sends you.
Back of the enveBack of the enve lope numbers show that if the top 15 MFs incur about 2,500 transactions each a day, the total cost incurred to print and dispatch them, as suming the cost of dis patch per statement is Rs15, would amount to about Rs14 crore.
Now if only, say, 30% of these transactions hift to the stock exchange, MFs can save about Rs4.22 crore.
Take the case of new fund offer applications. Assuming 40% of the total transactions happen through new funds and accounting wastage of paper in filling up new forms (assume each investor wastes five forms before getting it right), the top 15 funds spend about Rs28.12 crore. Again, if, say, 30% of these transactions shift to the stock exchange, MFs can save about Rs8.44 crore.
That is not all. At present, MFs are mandated to send an account statement once a year even if the investor has not bought or sold a single unit.
On this count, too, the top 15 MFs spend Rs264.16 crore annually. Again, if 30% of the transactions were to move to the exchanges, MFs gain Rs79.25 crore. (see Lower Costs) Says Amit Trivedi, CEO, Karmayog Knowledge Academy, a Mumbai-based MF training institute, "MFs can either plough the savings back into business or into investor education."
Lower fees The fund houses may not pass on the savings to you, just yet. The 2.5% charge that equity funds impose on you every year--from which they partly recover their marketing, selling and fund management costs--has little scope to drop further, experts say.
Maju A.Nair, associate vice-president (distribution), Sharekhan Ltd, says: "Fund houses will prefer to plough back the savings into their businesses." Here's why.
With Sebi banning entry loads, distributors are now supposed to charge a separate fee from the investors. As a result, distributors' income has taken a hit. In a hurry to compensate them and to ensue they keep pushing funds, many MFs have started paying them out of their own pockets. An industry that has historically suffered low profitability is expected to be further hit since the number of retail folios has not grown much.
The cost that you pay to your agent is expected to drop, though. First, your agent can no longer charge the maximum 2.25% that funds used to charge earlier. The price that your agent will charge you will now depend on the quality of service he can offer you. Second, stockbrokers may not charge you brokerage, at least in the first few months. Says Rakesh Goyal, head (distribution), Bonanza Portfolio Ltd, a Mumbai-based financial services company, "Since MFs pay us upfront as well as trail fees, there isn't much merit in charging a brokerage fee."
Challenges With misselling common in the MF industry, there's a concern whether stockbrokers would be able to dole out the right advice on funds. "I doubt if stockbrokers are equipped to distribute MFs," says Prithvi Haldea, managing director, Prime Database, a primary market monitor. Ashu Suyash, CEO, Fidelity India Asset Management Ltd, disagrees. "It's not fair to generalize. We see stockbrokers offering MFs," he says. Your neighbourhood distributor may vanish if he doesn't pull up his socks and begin to do more than just collecting your signature. As stockbrokers are now allowed to sell MFs along with equities in dematerialized form at low costs, small-time distributors will have to offer you more value for your buck, such as quality advice, services like periodic statements, pick and drop of forms and cheques and regular meetings. The other option for them is to turn to financial planning and help investors channelize their income, plan their taxes and borrowings.
Money Matters says: Keep a close watch of what your mutual fund vendor charges you.
Your costs should be coming down. And remember, the way you buy and sell funds will change soon. Keep reading Money Matters and we'll keep you on top of events and changes as they occur. This industry is currently in transition.
Sikkim leads in promotion of adventure, eco & wellness tourism: Union Minister
Namchi: The Union Minister for Tourism, Kumari Selja on Monday inaugurated the Indian Himalayan Centre for Adventure and Eco Tourism at Chamchey, South Sikkim, and also laid foundation stone of a Heliport at the same premises. The Union Minister was accompanied by Chief Minister Dr. Pawan Chamling, Mrs. Tika Maya Chamling, Minister for Tourism Bhim Dhungel, other state cabinet Ministers, Union Tourism Secretary Sujit Banerjee, Additional Secretary Sanjay Kothari.
She said, adventure tourism, eco tourism and wellness tourism are the three niche segments of India’s tourism products and her ministry attaches great importance towards development and promotion of these segments. She said, India which was traditionally considered a cultural destination for several decades has now emerged as an important destination for adventure, eco and wellness holidays for discerning international travelers. No other country in the world offers the variety of adventure opportunities, which India does, she observed.
The Indian Himalayan Centre for Adventure and Eco Tourism in Sikkim would be the first of its kind in India.
Namchi: The Union Minister for Tourism, Kumari Selja on Monday inaugurated the Indian Himalayan Centre for Adventure and Eco Tourism at Chamchey, South Sikkim, and also laid foundation stone of a Heliport at the same premises. The Union Minister was accompanied by Chief Minister Dr. Pawan Chamling, Mrs. Tika Maya Chamling, Minister for Tourism Bhim Dhungel, other state cabinet Ministers, Union Tourism Secretary Sujit Banerjee, Additional Secretary Sanjay Kothari.
She said, adventure tourism, eco tourism and wellness tourism are the three niche segments of India’s tourism products and her ministry attaches great importance towards development and promotion of these segments. She said, India which was traditionally considered a cultural destination for several decades has now emerged as an important destination for adventure, eco and wellness holidays for discerning international travelers. No other country in the world offers the variety of adventure opportunities, which India does, she observed.
The Indian Himalayan Centre for Adventure and Eco Tourism in Sikkim would be the first of its kind in India.
CAREER GUIDE: CAREER IN TEACHING
FROM EMPLOYMENT NEWS
BY NARESH SINGH
Future is bright if right direction is taken at the right time. Teaching is re-emerging as an important and increasingly popular career option because of the stability that it offers in these troubled times. Whatever your circumstances, if you are still at school, about to graduate or finishing higher degree in any stream or looking for change of direction, there are newer and more ways to enter the profession than ever before. Teaching is deemed as a noble career. Teaching is a career only for those, who do not hold money in high regard and have passion for knowledge. Genuine interest in the profession is the most important virtue that one must possess. For teachers, learning and teaching are a complementary process. Bright students can choose even professional disciplines—mana-gement, engineering, medicine etc. Demand for quality teachers is always high.
No profession is free of challenges. Teachers have to face several hurdles in their careers. The teaching refers to a specific cluster of activities which includes such acts as explaining, demonstrating, questioning and motivating. The process of teaching-learning is as old as human beings on earth. It has been from informal learning to formal learning with the passage of time. The learning is the permanent change in learner’s behavior with the help of effective teaching. True learning is change in personality which if not practiced or reinforced, extincts.
The teaching as convent-ionally understood by traditional people is the act of dissemination of information to the learners in the class rooms. A number of researches have evidenced that teaching is to make the learner realize his/her potential at the fullest. Traditional methods and techniques have been replaced by new methods of teaching and Innovative teaching-learning techniques. Gone are the days when teaching was understood as imparting mere information and when a learner was underrated or underestimated to learn.
Every learner has almost an average I.Q. He/ she can acquire utmost knowledge with self-efforts directed by the teacher. Teaching is to motivate the learners to acquire information, knowledge and skills with self efforts. The teaching must stress self-learning with teacher’s guidance rather than providing instruction to the learner at every step. Role of the teaching is to enable the learner to become self-dependent to explore oppor-tunities. An ideal teacher helps the learner to tremendously use self- senses in order to experience different real life situations.
The process of teaching was carried out by early human beings and even by animals to teach their young ones for successful adjustment in the environment. The process has undergone several changes from informal to formal. Today, the need is to rouse dormant potentialities of learners. Today, the learning can be made efficient and effective with the advent of technological media. Efficiency as a term involves relationship between inputs and outputs in a production process — The underlying notion is that- production is efficient if given inputs produce maximum output. Efficient teaching is that which reduces wastage of learning material — learners (animate human resources- students) and inanimate teaching – learning aids. Maximum utilization of resources can curtail the wastage. The wastage of resources is in high rate of dropouts, failures and truants of students–learners & the misuse and the unuse of teaching- learning aids, The use and misuse of teaching- learning aids are due to lack of knowledge to operate at the part of teacher. How can teaching – learning be made interesting and attractive? Interaction between teacher and student should be intensive and more frequent. It is possible as ratio between student and teacher is less. And highly motivated teachers may make the teaching –learning interested and attractive. High incentives and on the job training can make teachers more motivated and committed. Mobilization of students is a must by motivational techniques.
Utilization of electronical gadgets, as teaching aids as computer, projector and other simulation demonstrative aids can be helpful in efficient teaching- learning. Traditional teaching- learning methods should be taken off. Balanced participation between teacher and student should involve healthy discussion through active interaction.
Moreover teaching is the stimulation, guidance, direction, facilitation and encouragement for learning. It is an art and a teacher is an artist. An artist is governed by certain principles which help him acquire proficiency in his profession, so a teacher is also governed by certain principles which help him acquire proficiency in teaching. The teacher must understand the developmental characteristics of learners at different stages so that he/ she takes advantage of the interest and motivation of the learners in a learning task. Lack of under-standing of differences in emotional quotient, age-groups, socio-economic background, interests and motivational levels of learners makes the teacher- centered teaching fail. So only learner-centered approach may make the teaching effective and efficient. True teaching brings novelty and excitement to the classroom through methodologies that encourage self-learning firmly believing that “education is not filling a bucket but kindling a lamp.”
In true teaching the teacher does not tell, but the class learns all the time. The teacher may speak and ask and often even tell but the class never stops from learning. The class never stops from searching, finding and gathering. The greater thing in teaching is that the pupils must learn and sincere in these days they seldom learn teaching has become singularly barren of fruit
The teaching where the teacher bosses a dead show is not effective teaching. In true teaching first of all the teacher is at once all and nothing. He is nothing because he is not immediately concerned with the operations of the young minds before him, and he is all because he is ultimately responsible for the result of these very operations. This is no doubt a task calling for the greatest circumspection an extremely delicate work in which one is continually called upon to on tread thin ice.
The teaching is a sovereign remedy. It is the quack methods that are often practiced in the name of teaching that fail us in the hour of great expectation. The need is urgent to clear educational ideals of false silt. This is the risk that awaits the true educational reformer.
If it is bad to stuff a child with food, it is worse to stuff him with easy rudiments or mere information or even with learning. The mechanism of physical well being will not long bear the strain of excessive food. Likewise, the heaping of information on the childs mind must retard its growth and diminish its strength.
— Quality in education is nowadays a buzzword. Quality means offering the highest level of performance in all education services and programmes, quality teacher is he who performs his/ her best to deliver competent services in order to bring about positive change in the learners’ behavior. The services of a competent teacher include efficient delivery of knowledge of content in compart-mentalized easy manner and the delivery of skills in a manner as how to use knowledge and the delivery of ethical values as how to adapt to social environment. The positive change in the learners’ behavior reduces wastage of education services and reflects in his or her behaviour. Aquality teacher’s service product is the learner who is equipped with knowledge, skills and ethical values through different teaching styles Quality learners are those who are supposed to perform more than expected and gets advantage edge over other competitors in a tough competi-tion market.
be willing continually to change, learn and adapt. If you are preparing to teach in the twenty –first century, try to imagine what your role will be. You will no doubt be teaching facts and skills that have traditionally been devised. Teachers’ successes will depend upon their flexibility and their ability to view teaching as an ever-changing process that reflects the society in which it occurs.
Everywhere, there is pressure for children to learn more in school. The new economy demands that young people leave school with strong abilities to read, write, calculate and apply disciplined thought to the solution of problems. Citizenship in every society requires an understanding of the history, government and tradition of not only that society but of many others as well. More and more the pursuit of individual happiness must begin with an educated view of a complex and rapidly changing world. As schools have been pressed to be more effective and more productive, the out-of-school influences on academic learning have escalated in importance. Even where the school day and school year have been lengthened, the amount of time, children spend in school during the first eighteen years of their lives is small (perhaps 13% of waking hours) compared to time spent with the family and the broader community. Fortunately, research on the family’s influence on school learning has a substantial history, and we can settle upon basic premises with great confidence.
With reasonable certainty, we can state that poverty may statistically predict lower school performance, yet families that provide a stimulating, language rich, and supportive environment defy the odds of socio-economic circumstances. In other words, an alterable ‘curriculum of the home’—including the family’s relationships, practices and patterns of life—is a more powerful predictor of academic learning than the family’s status. Schools can work with families to improve the curriculum of the home, regardless of the family’s economic situation. This, then, is a message of great hope. Research on the relationships among families who constitute a school community leans heavily on a long body of sociological literature on communities of all types. Recently, however, primarily within the past decade, a strand of this sociological research has focused on schools as communities, and we are arriving at a set of understandings that may soon achieve the status of theory.
As for what schools can do to affect family behaviors in ways that benefit children’s learning, the research trail is shorter and less conclusive. There remains a great amount of experimentation, casting about to see what works. Some initiatives have, in fact, worked, and we may report them, draw lessons from them, and generalize from them. While the home’s influence on academic learning is significant, the quality and quantity of instruction and the child’s own cognitive abilities are of equal or greater significance. There is a danger, then, in placing too much emphasis (or blame) on the family’s contribution to the learning equation while forgiving weaknesses in the school. By the same token, ignoring the gains to be made by helping families improve the alterable curriculum of the home limits of the potential effectiveness of the school.
Facets of Education
Complete education compri-ses many forms such as—
l Informal Education: It is acquired by the learner himself /herself with self efforts through socialization process. The learning subject-matter in Informal education is all social material in global village. In this system, the acquired know-ledge is not evaluated by any outside agency and no certificate is provided for it.
l Non-formal Education: In this system, learner is enrolled with an education agency to acquire knowledge and knowledge is evaluated for the award of certificate but no regular face-to-face interaction between teacher and student is provided. Non-formal education is acquired through distance /correspondence mode.
l Formal Education: In this setting, the knowledge is continuously evaluated for the award of certificate and learners’ development reflects in their behavior. Face-to-face interaction between teacher and student is intensive in this process of teaching-learning. The process of education delivery is ideal for all-round development of person’s personality. Pre-specified instructional curriculum is provided to teacher to make desired change in the learner.
l Functional Education: In this system learner acquires working skills through informal, non-formal and formal modes of education.
How to become a teacher
One has to acquire degree/Diploma level education to become a teacher for conventional disciplines of secondary standard. PhD or UGC -NET qualified examination is required for teaching at degree level disciplines. Indicative criteria to become a qualified teacher are shown here.
1. Teachers for conventional disciplines at pre-primary, primary/elementary and secon-dary level education
Pre–Primary Teacher: Diploma of Early childhood care and Education (ECCE)/NTT /equivalents)
Elementary Teacher: Diploma of Elementary Teacher Education (ETE/D.Ed/BTC etc.)
Secondary Teacher: Bachelor of Education (B.Ed.) after BA/B.Com/B.Sc. etc.
Senior Secondary Teacher: Bachelor of Education (B.Ed.) after MA/M.Com./MSc./equivalents
Higher Education: Doctor of Philosophy (Ph.D), / National Eligibility Test (NET)/State level eligibility Test (SLET) in any discipline for entry level of College/University Teacher/Lecturer/Asstt. Professor.
2. Teachers for Professional/Technical Education at certifi-cate, diploma and degree levels:
Certificate/ Diploma Level Education in Library Science: B.Lib.Sc/M.Lib.Sc.
Degree Level Education in Library Science: M.Lib.Sc. and UGC NET/PhD
Certificate/ Diploma Level Education in Physical educa-tion: B.PEd./BPE
Degree Level Education in Physical education: MPEd/MPE and UGC NET/Ph. D
Certificate/ Diploma Level Education in Arts( Fine arts, Visual Arts etc.):BFA./BA(Fine Arts)
Degree Level Education in Arts( Fine arts, Visual Arts etc.):MFA/MA in Fine Arts and UGC NET/Ph.D
Certificate/Diploma Level Education in Musology (Musics): B.Muse
Diploma Level Education in Engineering: B.E/BTech. in concerned Trade(Electrical/Electronics etc.)
Degree Level Education in Engineering: M.E./MTech./Ph.D in concerned Trade (Electrical/Electronics etc.)
Degree Level Medical Educa-tion: MD/ MS/MCh./Ph.D or equivalents
Diploma Level Pharmacy Education: B.Pharma/M. Pharma
Degree Level Pharmacy Education: M.Pharma / Ph.D
Degree level Management: MBA/PhD or UGC NET/SLET Qualified exam.
(Naresh Singh is associated with SCERT New Delhi-110024)
FROM EMPLOYMENT NEWS
BY NARESH SINGH
Future is bright if right direction is taken at the right time. Teaching is re-emerging as an important and increasingly popular career option because of the stability that it offers in these troubled times. Whatever your circumstances, if you are still at school, about to graduate or finishing higher degree in any stream or looking for change of direction, there are newer and more ways to enter the profession than ever before. Teaching is deemed as a noble career. Teaching is a career only for those, who do not hold money in high regard and have passion for knowledge. Genuine interest in the profession is the most important virtue that one must possess. For teachers, learning and teaching are a complementary process. Bright students can choose even professional disciplines—mana-gement, engineering, medicine etc. Demand for quality teachers is always high.
No profession is free of challenges. Teachers have to face several hurdles in their careers. The teaching refers to a specific cluster of activities which includes such acts as explaining, demonstrating, questioning and motivating. The process of teaching-learning is as old as human beings on earth. It has been from informal learning to formal learning with the passage of time. The learning is the permanent change in learner’s behavior with the help of effective teaching. True learning is change in personality which if not practiced or reinforced, extincts.
The teaching as convent-ionally understood by traditional people is the act of dissemination of information to the learners in the class rooms. A number of researches have evidenced that teaching is to make the learner realize his/her potential at the fullest. Traditional methods and techniques have been replaced by new methods of teaching and Innovative teaching-learning techniques. Gone are the days when teaching was understood as imparting mere information and when a learner was underrated or underestimated to learn.
Every learner has almost an average I.Q. He/ she can acquire utmost knowledge with self-efforts directed by the teacher. Teaching is to motivate the learners to acquire information, knowledge and skills with self efforts. The teaching must stress self-learning with teacher’s guidance rather than providing instruction to the learner at every step. Role of the teaching is to enable the learner to become self-dependent to explore oppor-tunities. An ideal teacher helps the learner to tremendously use self- senses in order to experience different real life situations.
The process of teaching was carried out by early human beings and even by animals to teach their young ones for successful adjustment in the environment. The process has undergone several changes from informal to formal. Today, the need is to rouse dormant potentialities of learners. Today, the learning can be made efficient and effective with the advent of technological media. Efficiency as a term involves relationship between inputs and outputs in a production process — The underlying notion is that- production is efficient if given inputs produce maximum output. Efficient teaching is that which reduces wastage of learning material — learners (animate human resources- students) and inanimate teaching – learning aids. Maximum utilization of resources can curtail the wastage. The wastage of resources is in high rate of dropouts, failures and truants of students–learners & the misuse and the unuse of teaching- learning aids, The use and misuse of teaching- learning aids are due to lack of knowledge to operate at the part of teacher. How can teaching – learning be made interesting and attractive? Interaction between teacher and student should be intensive and more frequent. It is possible as ratio between student and teacher is less. And highly motivated teachers may make the teaching –learning interested and attractive. High incentives and on the job training can make teachers more motivated and committed. Mobilization of students is a must by motivational techniques.
Utilization of electronical gadgets, as teaching aids as computer, projector and other simulation demonstrative aids can be helpful in efficient teaching- learning. Traditional teaching- learning methods should be taken off. Balanced participation between teacher and student should involve healthy discussion through active interaction.
Moreover teaching is the stimulation, guidance, direction, facilitation and encouragement for learning. It is an art and a teacher is an artist. An artist is governed by certain principles which help him acquire proficiency in his profession, so a teacher is also governed by certain principles which help him acquire proficiency in teaching. The teacher must understand the developmental characteristics of learners at different stages so that he/ she takes advantage of the interest and motivation of the learners in a learning task. Lack of under-standing of differences in emotional quotient, age-groups, socio-economic background, interests and motivational levels of learners makes the teacher- centered teaching fail. So only learner-centered approach may make the teaching effective and efficient. True teaching brings novelty and excitement to the classroom through methodologies that encourage self-learning firmly believing that “education is not filling a bucket but kindling a lamp.”
In true teaching the teacher does not tell, but the class learns all the time. The teacher may speak and ask and often even tell but the class never stops from learning. The class never stops from searching, finding and gathering. The greater thing in teaching is that the pupils must learn and sincere in these days they seldom learn teaching has become singularly barren of fruit
The teaching where the teacher bosses a dead show is not effective teaching. In true teaching first of all the teacher is at once all and nothing. He is nothing because he is not immediately concerned with the operations of the young minds before him, and he is all because he is ultimately responsible for the result of these very operations. This is no doubt a task calling for the greatest circumspection an extremely delicate work in which one is continually called upon to on tread thin ice.
The teaching is a sovereign remedy. It is the quack methods that are often practiced in the name of teaching that fail us in the hour of great expectation. The need is urgent to clear educational ideals of false silt. This is the risk that awaits the true educational reformer.
If it is bad to stuff a child with food, it is worse to stuff him with easy rudiments or mere information or even with learning. The mechanism of physical well being will not long bear the strain of excessive food. Likewise, the heaping of information on the childs mind must retard its growth and diminish its strength.
— Quality in education is nowadays a buzzword. Quality means offering the highest level of performance in all education services and programmes, quality teacher is he who performs his/ her best to deliver competent services in order to bring about positive change in the learners’ behavior. The services of a competent teacher include efficient delivery of knowledge of content in compart-mentalized easy manner and the delivery of skills in a manner as how to use knowledge and the delivery of ethical values as how to adapt to social environment. The positive change in the learners’ behavior reduces wastage of education services and reflects in his or her behaviour. Aquality teacher’s service product is the learner who is equipped with knowledge, skills and ethical values through different teaching styles Quality learners are those who are supposed to perform more than expected and gets advantage edge over other competitors in a tough competi-tion market.
be willing continually to change, learn and adapt. If you are preparing to teach in the twenty –first century, try to imagine what your role will be. You will no doubt be teaching facts and skills that have traditionally been devised. Teachers’ successes will depend upon their flexibility and their ability to view teaching as an ever-changing process that reflects the society in which it occurs.
Everywhere, there is pressure for children to learn more in school. The new economy demands that young people leave school with strong abilities to read, write, calculate and apply disciplined thought to the solution of problems. Citizenship in every society requires an understanding of the history, government and tradition of not only that society but of many others as well. More and more the pursuit of individual happiness must begin with an educated view of a complex and rapidly changing world. As schools have been pressed to be more effective and more productive, the out-of-school influences on academic learning have escalated in importance. Even where the school day and school year have been lengthened, the amount of time, children spend in school during the first eighteen years of their lives is small (perhaps 13% of waking hours) compared to time spent with the family and the broader community. Fortunately, research on the family’s influence on school learning has a substantial history, and we can settle upon basic premises with great confidence.
With reasonable certainty, we can state that poverty may statistically predict lower school performance, yet families that provide a stimulating, language rich, and supportive environment defy the odds of socio-economic circumstances. In other words, an alterable ‘curriculum of the home’—including the family’s relationships, practices and patterns of life—is a more powerful predictor of academic learning than the family’s status. Schools can work with families to improve the curriculum of the home, regardless of the family’s economic situation. This, then, is a message of great hope. Research on the relationships among families who constitute a school community leans heavily on a long body of sociological literature on communities of all types. Recently, however, primarily within the past decade, a strand of this sociological research has focused on schools as communities, and we are arriving at a set of understandings that may soon achieve the status of theory.
As for what schools can do to affect family behaviors in ways that benefit children’s learning, the research trail is shorter and less conclusive. There remains a great amount of experimentation, casting about to see what works. Some initiatives have, in fact, worked, and we may report them, draw lessons from them, and generalize from them. While the home’s influence on academic learning is significant, the quality and quantity of instruction and the child’s own cognitive abilities are of equal or greater significance. There is a danger, then, in placing too much emphasis (or blame) on the family’s contribution to the learning equation while forgiving weaknesses in the school. By the same token, ignoring the gains to be made by helping families improve the alterable curriculum of the home limits of the potential effectiveness of the school.
Facets of Education
Complete education compri-ses many forms such as—
l Informal Education: It is acquired by the learner himself /herself with self efforts through socialization process. The learning subject-matter in Informal education is all social material in global village. In this system, the acquired know-ledge is not evaluated by any outside agency and no certificate is provided for it.
l Non-formal Education: In this system, learner is enrolled with an education agency to acquire knowledge and knowledge is evaluated for the award of certificate but no regular face-to-face interaction between teacher and student is provided. Non-formal education is acquired through distance /correspondence mode.
l Formal Education: In this setting, the knowledge is continuously evaluated for the award of certificate and learners’ development reflects in their behavior. Face-to-face interaction between teacher and student is intensive in this process of teaching-learning. The process of education delivery is ideal for all-round development of person’s personality. Pre-specified instructional curriculum is provided to teacher to make desired change in the learner.
l Functional Education: In this system learner acquires working skills through informal, non-formal and formal modes of education.
How to become a teacher
One has to acquire degree/Diploma level education to become a teacher for conventional disciplines of secondary standard. PhD or UGC -NET qualified examination is required for teaching at degree level disciplines. Indicative criteria to become a qualified teacher are shown here.
1. Teachers for conventional disciplines at pre-primary, primary/elementary and secon-dary level education
Pre–Primary Teacher: Diploma of Early childhood care and Education (ECCE)/NTT /equivalents)
Elementary Teacher: Diploma of Elementary Teacher Education (ETE/D.Ed/BTC etc.)
Secondary Teacher: Bachelor of Education (B.Ed.) after BA/B.Com/B.Sc. etc.
Senior Secondary Teacher: Bachelor of Education (B.Ed.) after MA/M.Com./MSc./equivalents
Higher Education: Doctor of Philosophy (Ph.D), / National Eligibility Test (NET)/State level eligibility Test (SLET) in any discipline for entry level of College/University Teacher/Lecturer/Asstt. Professor.
2. Teachers for Professional/Technical Education at certifi-cate, diploma and degree levels:
Certificate/ Diploma Level Education in Library Science: B.Lib.Sc/M.Lib.Sc.
Degree Level Education in Library Science: M.Lib.Sc. and UGC NET/PhD
Certificate/ Diploma Level Education in Physical educa-tion: B.PEd./BPE
Degree Level Education in Physical education: MPEd/MPE and UGC NET/Ph. D
Certificate/ Diploma Level Education in Arts( Fine arts, Visual Arts etc.):BFA./BA(Fine Arts)
Degree Level Education in Arts( Fine arts, Visual Arts etc.):MFA/MA in Fine Arts and UGC NET/Ph.D
Certificate/Diploma Level Education in Musology (Musics): B.Muse
Diploma Level Education in Engineering: B.E/BTech. in concerned Trade(Electrical/Electronics etc.)
Degree Level Education in Engineering: M.E./MTech./Ph.D in concerned Trade (Electrical/Electronics etc.)
Degree Level Medical Educa-tion: MD/ MS/MCh./Ph.D or equivalents
Diploma Level Pharmacy Education: B.Pharma/M. Pharma
Degree Level Pharmacy Education: M.Pharma / Ph.D
Degree level Management: MBA/PhD or UGC NET/SLET Qualified exam.
(Naresh Singh is associated with SCERT New Delhi-110024)
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