India: To introduce three & half years medical course to meet shortage of doctors.
16 Jan 2010:
Indian Government has decided to introduce a short-term medical education course at district level, in government-run schools, to reach out to rural population across the country.
“The Central government will soon launch a three and half year medical education cadre and open district level schools to impart it to produce doctors who will be later posted in rural areas,” Union Health and Family Welfare minister Gulam Nabi Azad told reporters here on Friday.
This short term medical course, including medicine and surgery (in the curriculum) will be imparted only at government-run schools and the degrees will be awarded by the Universities, he said.
At present Primary Health Centres (PHC) are manned by only one Auxiliary Nurse Midwife (ANM) who is in charge of all the work. But from now, doctors of short-term course after completion, would be posted at PHC and sub centres, Mr. Azad said.
Acknowledging the scarcity of qualified doctors, Mr. Azad said the intake capacity of government-run medical colleges is being increased from 150 to 250 seats at graduation level.
Further, in post-graduation instead of one student, the guide will be allowed to have two students, he said.
The Health minister said that UPA government is committed to set up medical institutes on the lines of All India Institute of Medical Sciences (AIIMS) and necessary tenders have been floated in this regard.
Saturday, January 16, 2010
Prime Minister’s speech at 150th Anniversary Celebrations of St Xavier’s Collegiate School, Kolkata
16 Jan 2010 18:5 IST
Following is the text of the speech by the Prime Minister Dr. Manmohan Singh at the 150th anniversary celebrations of St Xavier’s Collegiate School at Kolkata, today:
“It is a pleasure and a privilege to be here today at the 150th year celebrations of St Xavier’s Kolkata. My best wishes to all the teachers, students and all those associated with this great and historic institution. I am honoured to be in these august environs that have produced many great sons of India. I am specially honoured to be here on a street named after another great icon of this city, Mother Teresa.
The Christian missionaries who came to this country chose the path of education to reach out to the hearts and minds of the Indian people. St. Xavier’s was built as a result of this ennobling vision of Jesuit priests. Today it continues to what it did 150 years ago – which was to provide progressive, all round education to rich and poor, privileged and under-privileged and to children from all faiths and religions.
Institutions like St Xavier’s laid the basis for English language education in Bengal. But the missionaries did not look upon learning as an elitist enterprise. They adopted an inclusive approach. St. Xavier’s dominated the educational scene in Kolkata, but the fathers also built excellent schools in tribal areas
The fathers learnt Indian languages and familiarized themselves with the customs and conditions of the regions of India where they worked.
I have been told by some alumni of St Xavier’s that they were taught by Belgian-Jesuit priests who were erudite not only in European culture but also in Sanskrit and Bengali.
There were also fathers who could have made original contributions in science had they not chosen to respond to the call of priesthood.
A remarkable Jesuit priest called Father Lafont was responsible for the establishment in St. Xavier’s of Kolkata’s first Meteorological Observatory and the first Spectroscopic Observatory. He was also the inspiration behind the work of the scientist Dr. Jagadish Chandra Bose, another towering Xaverian.
I would like to make a mention of another very distinguished old boy of St. Xaviers and a great son of India, Shri Jyoti Basu. Our thoughts and prayers are with him and I wish him a speedy recovery.
Gurudev Rabindranath Tagore studied at St. Xavier’s. Even though he was not inclined towards formal studies, the story Shri Aveek Sarkar related showed that he nonetheless valued the time he spent here.
Father de Peneranda’s actions left behind a deep impact on his sensitive young mind. It is teachers like Father de Peneranda and the many dedicated fathers who came after him through their personal examples instilled in their students a moral compass to guide them through their later life.
The Christian fathers helped those they taught to become well rounded and cultured human beings. Their students were given the great gift of rational thought. This I think is the most important reason why St. Xavier’s has sent forth to the world so many outstanding citizens of India who have become leaders in their respective fields. India does not need blind faith. We need rational thinking and a scientific temper to counter outdated dogmas and ideologies.
The 19th century, when St Xavier’s was founded, was a period of great intellectual ferment in Bengal. Many historians have called this period the Bengal Renaissance. It was also a period of profound religious introspection leading to an understanding and appreciation of various religious traditions. The coming together of European and Indian culture had made this flowering possible.
The Jesuit fathers of St Xavier’s, self-consciously or otherwise, became a part of this confluence of cultures and learning. They made themselves an integral part of and reinforced India’s culture of religious tolerance and secularism.
We owe these fathers a debt of gratitude and I salute them for their immense contribution to the intellectual enrichment of our people and to nation building.
Our Government has made universal access to education one of the corner stones of our strategy of inclusive growth. I am delighted to learn that the rate of literacy has been going up significantly in the past few years. I am also happy to learn that enrollment ratios are rising and drop out rates are falling.
I wish to see every child in our country becoming literate over the next decade. We must aim for 100% literacy across India. I would also like to see every child have access to school education within reasonable distance from his or her home. When I was a young boy I had to walk miles to go to school. That should not be the lot of our children in future.
Our Government has raised public investment in education very steeply. Never before has so much money been invested in education. I urge every State government to ensure that this money is well spent.
I also urge all those associated with school education in our country to pay special attention to the modernization of our syllabi and to the overall development of our children – their intellectual, physical, moral and social development.
We must pay attention to children’s health, to physical education and community and national service. School education must focus on the all-round development of a child’s personality.
Finally, let me add that I would like to see a sharp increase in the enrollment of the girl child in schools. Every girl child should have the opportunity to fulfill her potential and become equal citizens of our great Republic.
I assure you that in the months to come we will pay even greater attention to the development of school education. I wish St. Xavier’s a bright and purposeful future.”
16 Jan 2010 18:5 IST
Following is the text of the speech by the Prime Minister Dr. Manmohan Singh at the 150th anniversary celebrations of St Xavier’s Collegiate School at Kolkata, today:
“It is a pleasure and a privilege to be here today at the 150th year celebrations of St Xavier’s Kolkata. My best wishes to all the teachers, students and all those associated with this great and historic institution. I am honoured to be in these august environs that have produced many great sons of India. I am specially honoured to be here on a street named after another great icon of this city, Mother Teresa.
The Christian missionaries who came to this country chose the path of education to reach out to the hearts and minds of the Indian people. St. Xavier’s was built as a result of this ennobling vision of Jesuit priests. Today it continues to what it did 150 years ago – which was to provide progressive, all round education to rich and poor, privileged and under-privileged and to children from all faiths and religions.
Institutions like St Xavier’s laid the basis for English language education in Bengal. But the missionaries did not look upon learning as an elitist enterprise. They adopted an inclusive approach. St. Xavier’s dominated the educational scene in Kolkata, but the fathers also built excellent schools in tribal areas
The fathers learnt Indian languages and familiarized themselves with the customs and conditions of the regions of India where they worked.
I have been told by some alumni of St Xavier’s that they were taught by Belgian-Jesuit priests who were erudite not only in European culture but also in Sanskrit and Bengali.
There were also fathers who could have made original contributions in science had they not chosen to respond to the call of priesthood.
A remarkable Jesuit priest called Father Lafont was responsible for the establishment in St. Xavier’s of Kolkata’s first Meteorological Observatory and the first Spectroscopic Observatory. He was also the inspiration behind the work of the scientist Dr. Jagadish Chandra Bose, another towering Xaverian.
I would like to make a mention of another very distinguished old boy of St. Xaviers and a great son of India, Shri Jyoti Basu. Our thoughts and prayers are with him and I wish him a speedy recovery.
Gurudev Rabindranath Tagore studied at St. Xavier’s. Even though he was not inclined towards formal studies, the story Shri Aveek Sarkar related showed that he nonetheless valued the time he spent here.
Father de Peneranda’s actions left behind a deep impact on his sensitive young mind. It is teachers like Father de Peneranda and the many dedicated fathers who came after him through their personal examples instilled in their students a moral compass to guide them through their later life.
The Christian fathers helped those they taught to become well rounded and cultured human beings. Their students were given the great gift of rational thought. This I think is the most important reason why St. Xavier’s has sent forth to the world so many outstanding citizens of India who have become leaders in their respective fields. India does not need blind faith. We need rational thinking and a scientific temper to counter outdated dogmas and ideologies.
The 19th century, when St Xavier’s was founded, was a period of great intellectual ferment in Bengal. Many historians have called this period the Bengal Renaissance. It was also a period of profound religious introspection leading to an understanding and appreciation of various religious traditions. The coming together of European and Indian culture had made this flowering possible.
The Jesuit fathers of St Xavier’s, self-consciously or otherwise, became a part of this confluence of cultures and learning. They made themselves an integral part of and reinforced India’s culture of religious tolerance and secularism.
We owe these fathers a debt of gratitude and I salute them for their immense contribution to the intellectual enrichment of our people and to nation building.
Our Government has made universal access to education one of the corner stones of our strategy of inclusive growth. I am delighted to learn that the rate of literacy has been going up significantly in the past few years. I am also happy to learn that enrollment ratios are rising and drop out rates are falling.
I wish to see every child in our country becoming literate over the next decade. We must aim for 100% literacy across India. I would also like to see every child have access to school education within reasonable distance from his or her home. When I was a young boy I had to walk miles to go to school. That should not be the lot of our children in future.
Our Government has raised public investment in education very steeply. Never before has so much money been invested in education. I urge every State government to ensure that this money is well spent.
I also urge all those associated with school education in our country to pay special attention to the modernization of our syllabi and to the overall development of our children – their intellectual, physical, moral and social development.
We must pay attention to children’s health, to physical education and community and national service. School education must focus on the all-round development of a child’s personality.
Finally, let me add that I would like to see a sharp increase in the enrollment of the girl child in schools. Every girl child should have the opportunity to fulfill her potential and become equal citizens of our great Republic.
I assure you that in the months to come we will pay even greater attention to the development of school education. I wish St. Xavier’s a bright and purposeful future.”
INDIAN STOCK MARKET- ON THE BULL RUN ?
Since the current rally began in March 2009, we have seen the Sensex gaining around 80% till date. What is more, of the eleven months since then (March 2009 included), the index has clocked positive gains in eight. Now after a strong bull market run like this, it is pertinent that investors start fearing a sharp correction in stock prices.
And you might be one of them! After all, that's a normal way of thinking after such bull runs and especially now when concerns still surround the global economic recovery.
We all fear corrections. And we all feel the ardent need to do something when a correction like event strikes, even if we expect it to be just a minor one. Like selling some stocks, fearing the markets might go down even further.
But then, we believe that after the sharp rise in stock prices we saw in 2009, a correction this year should be expected and not feared. Corrections are just a normal part of stock markets and do not alter the overall bull market trend. And given the way India's economy and companies are evolving; the markets will definitely be in for a good time (notwithstanding the normal hiccups) over the next 5 to 10 years.
One must never try to time a correction. It is nearly impossible. Anyone can give into fears, pessimism, and crowd mentality. But what distinguishes a successful investor is discipline and patience.
Investing systematically and in good quality stocks, without trying to time the market or fearing a correction, is the way to go.
SOURCE: EQUITYMASTER
Since the current rally began in March 2009, we have seen the Sensex gaining around 80% till date. What is more, of the eleven months since then (March 2009 included), the index has clocked positive gains in eight. Now after a strong bull market run like this, it is pertinent that investors start fearing a sharp correction in stock prices.
And you might be one of them! After all, that's a normal way of thinking after such bull runs and especially now when concerns still surround the global economic recovery.
We all fear corrections. And we all feel the ardent need to do something when a correction like event strikes, even if we expect it to be just a minor one. Like selling some stocks, fearing the markets might go down even further.
But then, we believe that after the sharp rise in stock prices we saw in 2009, a correction this year should be expected and not feared. Corrections are just a normal part of stock markets and do not alter the overall bull market trend. And given the way India's economy and companies are evolving; the markets will definitely be in for a good time (notwithstanding the normal hiccups) over the next 5 to 10 years.
One must never try to time a correction. It is nearly impossible. Anyone can give into fears, pessimism, and crowd mentality. But what distinguishes a successful investor is discipline and patience.
Investing systematically and in good quality stocks, without trying to time the market or fearing a correction, is the way to go.
SOURCE: EQUITYMASTER
Narayanan to be West Bengal Governor, Patil for Punjab
National Security Adviser M.K. Narayanan is being appointed Governor of West Bengal and former Home Minister Shivraj Patil in Punjab as the Centre has finalised a list of five new Governors in various States.
Former Defence Secretary Shekhar Dutt has been chosen for Chhattisgarh from where E.S.L. Narasimhan moves to Andhra Pradesh Raj Bhavan, highly-placed sources said.
Senior Congress leader Mohsina Kidwai will be the new Governor of Jharkhand from where K. Sankaranarayan is being shifted to Maharashtra.
Himachal Pradesh Governor Prabha Rau is being moved to Rajasthan from Himachal Pradesh where senior Congress leader from Gujarat and former Union minister Urmilaben Patel will be the new incumbent.
The names of Governors, which were cleared at a meeting between Congress President Sonia Gandhi and Prime Minister Manmohan Singh on Friday, have been forwarded to the Rashtrapati Bhavan by the Home Ministry.
The appointment of 75-year-old Narayanan, a former IB chief, creates a vacancy in the NSA’s post for which former Foreign Secretaries Shyam Saran and Shivshankar Menon are believed to be the front runners.
National Security Adviser M.K. Narayanan is being appointed Governor of West Bengal and former Home Minister Shivraj Patil in Punjab as the Centre has finalised a list of five new Governors in various States.
Former Defence Secretary Shekhar Dutt has been chosen for Chhattisgarh from where E.S.L. Narasimhan moves to Andhra Pradesh Raj Bhavan, highly-placed sources said.
Senior Congress leader Mohsina Kidwai will be the new Governor of Jharkhand from where K. Sankaranarayan is being shifted to Maharashtra.
Himachal Pradesh Governor Prabha Rau is being moved to Rajasthan from Himachal Pradesh where senior Congress leader from Gujarat and former Union minister Urmilaben Patel will be the new incumbent.
The names of Governors, which were cleared at a meeting between Congress President Sonia Gandhi and Prime Minister Manmohan Singh on Friday, have been forwarded to the Rashtrapati Bhavan by the Home Ministry.
The appointment of 75-year-old Narayanan, a former IB chief, creates a vacancy in the NSA’s post for which former Foreign Secretaries Shyam Saran and Shivshankar Menon are believed to be the front runners.
Excerpt from:
The Butterfly Effect...How Your Life Matters,
by Andy Andrews
Not long ago, I finally told the story of when, at the age of twenty-three, homeless and scared, I was given guidance in a most unusual fashion by an old man named Jones. What the old man told me did nothing less than change my life and my future. He said..."With a little perspective you can live a life of permanent purpose."
When I asked what he meant, the old man answered with a question. "Do you sometimes find yourself unconsciously judging your actions by level of importance?" I frowned a bit, not certain I understood. "For instance, "he continued, "the time you spend with friends is important, but the time you spend with family, is more important. You might rank an hour fishing as very important, thirty minutes visiting a sick friend in the hospital much more important than the fishing, and a sixty second conversation with a convenience store clerk as not very important at all."
I nodded my understanding and he returned to his initial point. "When you know that everything matters -that every move counts as much as any other -you will begin living a life of permanent purpose. A life of permanent purpose will make you a better parent, a better spouse, and a more valuable friend. Your productivity and financial success will soar to new heights while the old days of uncertainty, doubt, and depression fade into the past."
Of course, that conversation with Jones changed me. But even more, it became the guiding force that produced the kind of speaker and author I have become. You see, I understand fully that my very value as an author and speaker must ultimately be judged by the success you achieve. And as I consult with companies or speak to organizations and teams, I am keenly aware that much of my client's (your) ability to succeed beyond imagination depends upon my ability to prove this very concept!
When one lives a life of permanent purpose, sales figures soar, team chemistry thrives, and teenage decisions become wiser and more cautious. And these are just a few examples of what will happen... Simply put, when we understand that every action matters, every result of our actions immediately improves!
In these pages, I know you will find hope and direction for yourself, but I am most excited that you will now be equipped to lead others to their own life of permanent purpose! My hope for our families, our places of worship, our businesses, our nation, and our world is an incredible life of permanent purpose that can be achieved when at last we understand: Every move we make and every action we take, matters not just for us, but for all of us...and for all time.
The Butterfly Effect...How Your Life Matters,
by Andy Andrews
Not long ago, I finally told the story of when, at the age of twenty-three, homeless and scared, I was given guidance in a most unusual fashion by an old man named Jones. What the old man told me did nothing less than change my life and my future. He said..."With a little perspective you can live a life of permanent purpose."
When I asked what he meant, the old man answered with a question. "Do you sometimes find yourself unconsciously judging your actions by level of importance?" I frowned a bit, not certain I understood. "For instance, "he continued, "the time you spend with friends is important, but the time you spend with family, is more important. You might rank an hour fishing as very important, thirty minutes visiting a sick friend in the hospital much more important than the fishing, and a sixty second conversation with a convenience store clerk as not very important at all."
I nodded my understanding and he returned to his initial point. "When you know that everything matters -that every move counts as much as any other -you will begin living a life of permanent purpose. A life of permanent purpose will make you a better parent, a better spouse, and a more valuable friend. Your productivity and financial success will soar to new heights while the old days of uncertainty, doubt, and depression fade into the past."
Of course, that conversation with Jones changed me. But even more, it became the guiding force that produced the kind of speaker and author I have become. You see, I understand fully that my very value as an author and speaker must ultimately be judged by the success you achieve. And as I consult with companies or speak to organizations and teams, I am keenly aware that much of my client's (your) ability to succeed beyond imagination depends upon my ability to prove this very concept!
When one lives a life of permanent purpose, sales figures soar, team chemistry thrives, and teenage decisions become wiser and more cautious. And these are just a few examples of what will happen... Simply put, when we understand that every action matters, every result of our actions immediately improves!
In these pages, I know you will find hope and direction for yourself, but I am most excited that you will now be equipped to lead others to their own life of permanent purpose! My hope for our families, our places of worship, our businesses, our nation, and our world is an incredible life of permanent purpose that can be achieved when at last we understand: Every move we make and every action we take, matters not just for us, but for all of us...and for all time.
Alpha Generator
By Larissa Fernand
Morgan Stanley A.C.E. Fund is a relatively new offering, having been around for just 18 months. Though it does not have a sufficient long-term track record, it has impressed in its short history. Fund manager Jayesh Gandhi tells Larissa Fernand what makes this one tick.
What has contributed to the tremendous alpha of the fund?
A combination of sector calls and bottom-up stock picking. Our portfolio sector allocation is similar to a barbell strategy, where we are overweight on stocks at the two ends of the risk spectrum; simultaneously overweight in high growth infrastructure sectors (power generation, gas pipelines, capital goods, industrials) and defensive sectors (FMCG, pharmaceuticals).
During the last six months, we also increased the mid-cap exposure to participate meaningfully in the broad market rally.
Our attribution analysis report shows that the alpha generation is spread across the top 20-30 stocks. No single stock or sector has been a large contributor to performance, but multiple drivers spread across stocks and sectors. This is important because concentration risk is lower and yet return goals have been achieved.
Can you name a few stocks and sectors?
Our call on being overweight on Power Generation, Gas Transportation, EPC Contractors, Pharma, FMCG and Banking (now underweight) have delivered handsomely. Being underweight on Telecom and Software also helped. A few of our bottom-up stock picks that contributed significantly to alpha are Jindal Steel & Power, Yes Bank, GSPL, Aurobindo Pharma and Sterlite Technologies.
Capitalising on the rally from March 2009 onwards at the very start also helped.
Yes, to some extent. Our top-down macro view in February 2009 was that the market had bottomed out on valuations. As a result, our portfolios were fully invested by February and March this year.
However, the biggest rise in alpha has taken place in the last five months, post May 2009. Basically, the 14-month bear market (January 2008 - March 2009) was more macro driven, with individual company fundamentals having a limited impact. Broad market participation took place in a meaningful way only post-May 2009.
With the macro tail-risk now behind us, stock returns and price performance are now driven more by individual company earnings and sector prospects. Our team’s strength lies in sector allocations and bottom-up stock selection, which has begun to matter in the market in the last 6 months.
What makes you decide when to change your market cap allocation?
Multiple factors go into making the mid-cap allocation decision, the basic logic being economic growth. When economic growth is accelerating, the broad market is more likely to do better than the narrow large-cap market and vice versa. So when economic growth is accelerating, the benefit from incremental economic activities in the economy would be felt across a large number of sectors and stocks. In a situation of economic expansion, it would be worthwhile to increase broad market participation — meaning mid caps, in the portfolio.
Is that why your mid-cap exposure has been rising recently?
A year ago, we saw the reverse of the current situation when economic activity was decelerating. At that time, we built a portfolio that was predominantly large-cap oriented. Today, we have around a 35 per cent portfolio allocation to mid-cap stocks as we see economic activity picking up. Our mid-cap stocks have been picked based on bottom-up stock research spread across sectors. Being a multi-cap fund, our portfolio strategy allows us to dynamically change the mid-cap exposure depending upon our assessment of risk appetite of the market.
With higher mid-cap allocation, risk management assumes significance. We manage mid- and small-cap risk through diversification, spreading allocations across stocks and sectors. Each holds a limited but meaningful allocation ensuring that we do not run stock specific risk. We look for companies with a strong management track record, capital efficiency, operating cash flow generation, high promoter holding and limited dilutions.
Why do you have such a high turnover ratio?
It’s the result of high volatility in the equity market. The market was down 50-60 per cent and then recovered the entire fall in a year”s time. Over the last 6 months, we have had a rise of over 100 per cent in the equity markets. Typically, high equity market volatility leads to a high portfolio turnover.
Talking specifically for the A.C.E. Fund, our portfolio stance and composition has changed significantly post May 2009. Pre-May was a bear market where the portfolio stance and composition was more conservative and capital conservation was a pre-dominant objective. Post May, the outlook for Indian equities improved dramatically and it changed from a bear to a bull market. Our portfolio stance and allocation underwent a change reflecting the new market realities. The extra-ordinary volatility in the equity market and the dramatic changes in outlook during the last 12 months prompted changes in the portfolio which has lead to a high turnover. In a more normalized situation, we expect it to come down.
source:valueresearch
By Larissa Fernand
Morgan Stanley A.C.E. Fund is a relatively new offering, having been around for just 18 months. Though it does not have a sufficient long-term track record, it has impressed in its short history. Fund manager Jayesh Gandhi tells Larissa Fernand what makes this one tick.
What has contributed to the tremendous alpha of the fund?
A combination of sector calls and bottom-up stock picking. Our portfolio sector allocation is similar to a barbell strategy, where we are overweight on stocks at the two ends of the risk spectrum; simultaneously overweight in high growth infrastructure sectors (power generation, gas pipelines, capital goods, industrials) and defensive sectors (FMCG, pharmaceuticals).
During the last six months, we also increased the mid-cap exposure to participate meaningfully in the broad market rally.
Our attribution analysis report shows that the alpha generation is spread across the top 20-30 stocks. No single stock or sector has been a large contributor to performance, but multiple drivers spread across stocks and sectors. This is important because concentration risk is lower and yet return goals have been achieved.
Can you name a few stocks and sectors?
Our call on being overweight on Power Generation, Gas Transportation, EPC Contractors, Pharma, FMCG and Banking (now underweight) have delivered handsomely. Being underweight on Telecom and Software also helped. A few of our bottom-up stock picks that contributed significantly to alpha are Jindal Steel & Power, Yes Bank, GSPL, Aurobindo Pharma and Sterlite Technologies.
Capitalising on the rally from March 2009 onwards at the very start also helped.
Yes, to some extent. Our top-down macro view in February 2009 was that the market had bottomed out on valuations. As a result, our portfolios were fully invested by February and March this year.
However, the biggest rise in alpha has taken place in the last five months, post May 2009. Basically, the 14-month bear market (January 2008 - March 2009) was more macro driven, with individual company fundamentals having a limited impact. Broad market participation took place in a meaningful way only post-May 2009.
With the macro tail-risk now behind us, stock returns and price performance are now driven more by individual company earnings and sector prospects. Our team’s strength lies in sector allocations and bottom-up stock selection, which has begun to matter in the market in the last 6 months.
What makes you decide when to change your market cap allocation?
Multiple factors go into making the mid-cap allocation decision, the basic logic being economic growth. When economic growth is accelerating, the broad market is more likely to do better than the narrow large-cap market and vice versa. So when economic growth is accelerating, the benefit from incremental economic activities in the economy would be felt across a large number of sectors and stocks. In a situation of economic expansion, it would be worthwhile to increase broad market participation — meaning mid caps, in the portfolio.
Is that why your mid-cap exposure has been rising recently?
A year ago, we saw the reverse of the current situation when economic activity was decelerating. At that time, we built a portfolio that was predominantly large-cap oriented. Today, we have around a 35 per cent portfolio allocation to mid-cap stocks as we see economic activity picking up. Our mid-cap stocks have been picked based on bottom-up stock research spread across sectors. Being a multi-cap fund, our portfolio strategy allows us to dynamically change the mid-cap exposure depending upon our assessment of risk appetite of the market.
With higher mid-cap allocation, risk management assumes significance. We manage mid- and small-cap risk through diversification, spreading allocations across stocks and sectors. Each holds a limited but meaningful allocation ensuring that we do not run stock specific risk. We look for companies with a strong management track record, capital efficiency, operating cash flow generation, high promoter holding and limited dilutions.
Why do you have such a high turnover ratio?
It’s the result of high volatility in the equity market. The market was down 50-60 per cent and then recovered the entire fall in a year”s time. Over the last 6 months, we have had a rise of over 100 per cent in the equity markets. Typically, high equity market volatility leads to a high portfolio turnover.
Talking specifically for the A.C.E. Fund, our portfolio stance and composition has changed significantly post May 2009. Pre-May was a bear market where the portfolio stance and composition was more conservative and capital conservation was a pre-dominant objective. Post May, the outlook for Indian equities improved dramatically and it changed from a bear to a bull market. Our portfolio stance and allocation underwent a change reflecting the new market realities. The extra-ordinary volatility in the equity market and the dramatic changes in outlook during the last 12 months prompted changes in the portfolio which has lead to a high turnover. In a more normalized situation, we expect it to come down.
source:valueresearch
PERSONAL TECHNOLOGY
Sony's much improved E- READER opens new chapter
Sony, the Japanese electronics giant, was a pioneer in the current wave of electronic book readers, introducing its first Sony Reader model back in 2006. But it has been overtaken by Amazon.com, whose Kindle e-book reader, introduced in 2007, has become almost synonymous with the category.
Now, Sony is out with a much-improved model that could make it more competitive.
Unlike the Kindle, Sony's readers weren't wireless and their owners couldn't download books or newspapers directly to the device, instead of via a computer. Now, that problem has finally been solved with Sony's new reader Daily Edition, a handsome $400 (Rs18,280) wireless model.
The Daily Edition can be bought at website, sonystyle.com
Sony's much improved E- READER opens new chapter
Sony, the Japanese electronics giant, was a pioneer in the current wave of electronic book readers, introducing its first Sony Reader model back in 2006. But it has been overtaken by Amazon.com, whose Kindle e-book reader, introduced in 2007, has become almost synonymous with the category.
Now, Sony is out with a much-improved model that could make it more competitive.
Unlike the Kindle, Sony's readers weren't wireless and their owners couldn't download books or newspapers directly to the device, instead of via a computer. Now, that problem has finally been solved with Sony's new reader Daily Edition, a handsome $400 (Rs18,280) wireless model.
The Daily Edition can be bought at website, sonystyle.com
BHUTAN: Bhutan’s Northern Border:China’s Bullying and Teasing Tactics
In response to the concerns of the Parliamentarians, the Secretary of International Boundaries Dasho Pema Wangchuk gave a detailed briefing on the current status of Bhutan-China boundary negotiations on 4th of December 2009.
What is note worthy is that the Secretary was very candid and did not try to hide from the members of the Parliament and the people on the difficulties encountered in negotiating with the Chinese and the deep intrusions being made by the Chinese regularly on its border.
This is quite in contrast to what the Indian people are treated in the matter of Chinese intrusions that are regularly taking place and the Ministry of External Affairs continues to claim that the so called intrusions are nothing but differences in “perception.”
The points made by Wangchuk on December 4th were
* In 2008, the Chinese soldiers intruded deep into Bhutanese territory and came to Bhutanese Army’s outpost at Lharigang in the Charithang valley. In the year 2009, the Chinese intruded 17 times up to the RBA post.
* In 2004, the Chinese started road construction work from the Langmorpo stream towards the Zuri ridge. After several protests and discussions at the foreign minister level, the Chinese stopped the construction work.
* However in August 2009, the Chinese have started the extension of the road construction work again between Zuri and Phuteogang ridge that overlooks the disputed Charithang valley. The Bhutanese government protested four times that year. The action of the Chinese was in violation of the 1998 agreement between China and Bhutan on the maintenance of peace and tranquility and also of the mutual acceptance to maintain the status quo as agreed to in March 1959..
The Secretary conceded that there are four areas in the western border that are being disputed by the Chinese and that would include Doklam, Charithang, Sinchulimpa and Dramana pasture land.
In the case of the disputed area of 495 Sq.km, in another sector in Bayul Pasanglung the Secretary said that China had conceded the territory as that of Bhutan in an overall package deal that was discussed then. The Secretary has maintained that the Chinese position in this area has been consistent. But what is important is that the Chinese are willing to give up the claim only when other aspects of the package deal are accepted and implemented. This included trade and progress in diplomatic relations that would include perhaps an embassy of theirs in Thimpu.
Some time in April last year, a brief history of the border talks- 1st to 18th. was presented to the Parliament The 19th session is due this January.
As before Bhutan government gave a frank over view and nothing was held back or made light of. The Foreign Minister personally briefed the National Assembly in response to the request made by the Member of Parliament of Haa that is close to the western border with China and his concerns about the Chinese intrusions.
The foreign minister briefed the Assembly frankly on the progress of the talks. He said as follows
* The first four rounds had focussed on discussions regarding the guidelines for boundary negotiations, based on the five principles of peaceful coexistence: mutual respect for sovereignty and territorial integrity, mutual non aggression, non interference in each other’s internal affairs, equality and mutual benefit and peaceful co existence.
* In the fifth round of May 1988, the Chinese side made known their perception of the Bhutan-China border line, while the Bhutanese side noted their presentation. The 68th session of the National Assembly was presented, showing the Bhutanese claim based on Martham Chem, patrolling limit and traditional usage and Chinese claims in the fifth round. It was thoroughly discussed in the house, which eventually endorsed the Bhutanese claim line.
* In the sixth round, there were more discussions with maps of Bhutan on 1:500,000 scale, depicting the claim lines of both sides being exchanged. There were maps exchanged and discussion on the Western Bhutan and China’s borders.
* In the seventh round in 1990, the Chinese side made some additional offers on the Luling valley sector, the acceptance of which would make them forego their claim in the middle sector.
* In the eighth round, the Bhutanese delegation proposed further territorial adjustments in the Western Sector, however there was not much progress in the next four rounds of talks.
* In the twelfth round, the Chinese side brought the draft of a proposed interim agreement on the maintenance of peace and tranquillity along the Sino-Bhutan border areas, which was later signed by the two foreign ministers after discussions.
* In the thirteenth round in September 1999 in Thimphu, the Chinese side came up with a policy on Bhutan, with proposals for settlement of boundary, establishment of diplomatic relations and trade. The Chinese side proposed that the two sides might concentrate on preparation of descriptions and confirmation of border alignment, adding a new dimension to talks.
* In the fourteenth round in 2000, as China was a larger country, the Chinese side was requested to show greater consideration on the Bhutanese perception of the traditional boundary in Doklam, Sinchulumpa, Dramana and Shakhatoe areas. The Bhutanese side also proposed cartographic discussions.
* In the fifteenth round, the two sides agreed to continue discussions at the expert level groups, to focus mainly on maps and other areas to enhance official talks.
* In the sixteenth round, maps made by the expert group showing claims of both sides were exchanged. In the seventeenth round in April 2004, it was decided to first narrow down the differences at the expert group level.
* However in 2005, the maps were examined but could not be exchanged due to the vast differences between the two claim lines. The Chinese side had differences in areas amounting to 1300 Sq. Km, of which they were ready to consider giving 900 Sq. km.
* In the eighteenth round in Beijing in 2006, the Bhutanese side stressed that the package solution offered by the Chinese in 1990 during the 7th round was not favourable to Bhutan, since the offered Pasamlug already belonged to Bhutan.
The importance of pasture lands in the western sector to the livelihood of yak herders in northern Bhutan was explained. The Chinese side maintained that the basis of further negotiations must be acceptance of the package deal and that China was ready to make minor adjustments within it
Some points worth noting are
* It was only in May 1988 that the Chinese side formally made known their version which was unreasonable.
* In 1990, it became clear that the Chinese want to claim more on the western sector and were willing to forego the claim in the middle sector. The reasons for this move were obvious. The Chinese want to get as much space as possible in the western sector that is close to tri junction of India- Bhutan and China. The reasons for the claim were not on traditional usage, history etc. but purely based on the strategic nature of the western border that is close to the tri junction and India.
* It was in 1999, that the Chinese came up with a comprehensive package deal that for the first time formally raised the issue of establishment of diplomatic relations and trade. The Chinese no doubt wanted to establish a diplomatic mission in Thimpu as a condition for the final settlement of the boundary. There was no offer of any specific concession in the western sector in the package deal.
* In the fourteenth round, the Bhutanese made a fervent plea that it being a very small country and China a much larger country, the latter should show some consideration in the four disputed areas in the western sector. But this was rejected by Chinese. No mercy.
* The package deal was not acceptable to the Bhutanese side as it involves many areas other than the dispute of the border areas. In the last round of the talks ( eighteenth in Beijing) the Chinese made it very clear that further basis of negotiations must be the acceptance of the package offered by them earlier and that China is willing to make some minor adjustments within it.
* The package deal was nothing new. Since 1974 China has been pitching for bilateral trade and closer diplomatic relations. Since nothing had moved, it has now made it official as a quid pro quo for any border settlement. Even here China is willing to accept only “minor adjustments” and Bhutan should be clear by now that even with the establishment of bilateral trade and establishment of the embassy, China will be unwilling to make any major concession in the western sector which is strategically important to China which at the same time is equally of strategic importance to India too.
* There are two views in India on the border problems between Bhutan and China. One view is that Bhutan’s border problem will be settled once the border dispute between India and China is resolved. The other view is that once Bhutan is weaned away from India, the Chinese will probably be more reasonable and may be more generous.
While the first position is unlikely, there are no reasons to believe that the Chinese are going to be generous in the second case- as China is very unlikely to give up its position in the four areas of the western sector which is equally important for Bhutan’s security too.
In the near future while major clashes may not occur between the PLA and RBA, China will continue to tease and bully Bhutan and its border outpost personnel. This is the China that is supposed to rise “peacefully”! .
( Courtesy: www.southasiaanalysis.org. The writer, Dr S.Chandrasekharan is Director of South Asia Analysis Group, New Delhi.Email:south@southasiaanalysis.org)
By: Dr S.Chandrasekharan, C3S Paper No.431 dated January 15, 2010
In response to the concerns of the Parliamentarians, the Secretary of International Boundaries Dasho Pema Wangchuk gave a detailed briefing on the current status of Bhutan-China boundary negotiations on 4th of December 2009.
What is note worthy is that the Secretary was very candid and did not try to hide from the members of the Parliament and the people on the difficulties encountered in negotiating with the Chinese and the deep intrusions being made by the Chinese regularly on its border.
This is quite in contrast to what the Indian people are treated in the matter of Chinese intrusions that are regularly taking place and the Ministry of External Affairs continues to claim that the so called intrusions are nothing but differences in “perception.”
The points made by Wangchuk on December 4th were
* In 2008, the Chinese soldiers intruded deep into Bhutanese territory and came to Bhutanese Army’s outpost at Lharigang in the Charithang valley. In the year 2009, the Chinese intruded 17 times up to the RBA post.
* In 2004, the Chinese started road construction work from the Langmorpo stream towards the Zuri ridge. After several protests and discussions at the foreign minister level, the Chinese stopped the construction work.
* However in August 2009, the Chinese have started the extension of the road construction work again between Zuri and Phuteogang ridge that overlooks the disputed Charithang valley. The Bhutanese government protested four times that year. The action of the Chinese was in violation of the 1998 agreement between China and Bhutan on the maintenance of peace and tranquility and also of the mutual acceptance to maintain the status quo as agreed to in March 1959..
The Secretary conceded that there are four areas in the western border that are being disputed by the Chinese and that would include Doklam, Charithang, Sinchulimpa and Dramana pasture land.
In the case of the disputed area of 495 Sq.km, in another sector in Bayul Pasanglung the Secretary said that China had conceded the territory as that of Bhutan in an overall package deal that was discussed then. The Secretary has maintained that the Chinese position in this area has been consistent. But what is important is that the Chinese are willing to give up the claim only when other aspects of the package deal are accepted and implemented. This included trade and progress in diplomatic relations that would include perhaps an embassy of theirs in Thimpu.
Some time in April last year, a brief history of the border talks- 1st to 18th. was presented to the Parliament The 19th session is due this January.
As before Bhutan government gave a frank over view and nothing was held back or made light of. The Foreign Minister personally briefed the National Assembly in response to the request made by the Member of Parliament of Haa that is close to the western border with China and his concerns about the Chinese intrusions.
The foreign minister briefed the Assembly frankly on the progress of the talks. He said as follows
* The first four rounds had focussed on discussions regarding the guidelines for boundary negotiations, based on the five principles of peaceful coexistence: mutual respect for sovereignty and territorial integrity, mutual non aggression, non interference in each other’s internal affairs, equality and mutual benefit and peaceful co existence.
* In the fifth round of May 1988, the Chinese side made known their perception of the Bhutan-China border line, while the Bhutanese side noted their presentation. The 68th session of the National Assembly was presented, showing the Bhutanese claim based on Martham Chem, patrolling limit and traditional usage and Chinese claims in the fifth round. It was thoroughly discussed in the house, which eventually endorsed the Bhutanese claim line.
* In the sixth round, there were more discussions with maps of Bhutan on 1:500,000 scale, depicting the claim lines of both sides being exchanged. There were maps exchanged and discussion on the Western Bhutan and China’s borders.
* In the seventh round in 1990, the Chinese side made some additional offers on the Luling valley sector, the acceptance of which would make them forego their claim in the middle sector.
* In the eighth round, the Bhutanese delegation proposed further territorial adjustments in the Western Sector, however there was not much progress in the next four rounds of talks.
* In the twelfth round, the Chinese side brought the draft of a proposed interim agreement on the maintenance of peace and tranquillity along the Sino-Bhutan border areas, which was later signed by the two foreign ministers after discussions.
* In the thirteenth round in September 1999 in Thimphu, the Chinese side came up with a policy on Bhutan, with proposals for settlement of boundary, establishment of diplomatic relations and trade. The Chinese side proposed that the two sides might concentrate on preparation of descriptions and confirmation of border alignment, adding a new dimension to talks.
* In the fourteenth round in 2000, as China was a larger country, the Chinese side was requested to show greater consideration on the Bhutanese perception of the traditional boundary in Doklam, Sinchulumpa, Dramana and Shakhatoe areas. The Bhutanese side also proposed cartographic discussions.
* In the fifteenth round, the two sides agreed to continue discussions at the expert level groups, to focus mainly on maps and other areas to enhance official talks.
* In the sixteenth round, maps made by the expert group showing claims of both sides were exchanged. In the seventeenth round in April 2004, it was decided to first narrow down the differences at the expert group level.
* However in 2005, the maps were examined but could not be exchanged due to the vast differences between the two claim lines. The Chinese side had differences in areas amounting to 1300 Sq. Km, of which they were ready to consider giving 900 Sq. km.
* In the eighteenth round in Beijing in 2006, the Bhutanese side stressed that the package solution offered by the Chinese in 1990 during the 7th round was not favourable to Bhutan, since the offered Pasamlug already belonged to Bhutan.
The importance of pasture lands in the western sector to the livelihood of yak herders in northern Bhutan was explained. The Chinese side maintained that the basis of further negotiations must be acceptance of the package deal and that China was ready to make minor adjustments within it
Some points worth noting are
* It was only in May 1988 that the Chinese side formally made known their version which was unreasonable.
* In 1990, it became clear that the Chinese want to claim more on the western sector and were willing to forego the claim in the middle sector. The reasons for this move were obvious. The Chinese want to get as much space as possible in the western sector that is close to tri junction of India- Bhutan and China. The reasons for the claim were not on traditional usage, history etc. but purely based on the strategic nature of the western border that is close to the tri junction and India.
* It was in 1999, that the Chinese came up with a comprehensive package deal that for the first time formally raised the issue of establishment of diplomatic relations and trade. The Chinese no doubt wanted to establish a diplomatic mission in Thimpu as a condition for the final settlement of the boundary. There was no offer of any specific concession in the western sector in the package deal.
* In the fourteenth round, the Bhutanese made a fervent plea that it being a very small country and China a much larger country, the latter should show some consideration in the four disputed areas in the western sector. But this was rejected by Chinese. No mercy.
* The package deal was not acceptable to the Bhutanese side as it involves many areas other than the dispute of the border areas. In the last round of the talks ( eighteenth in Beijing) the Chinese made it very clear that further basis of negotiations must be the acceptance of the package offered by them earlier and that China is willing to make some minor adjustments within it.
* The package deal was nothing new. Since 1974 China has been pitching for bilateral trade and closer diplomatic relations. Since nothing had moved, it has now made it official as a quid pro quo for any border settlement. Even here China is willing to accept only “minor adjustments” and Bhutan should be clear by now that even with the establishment of bilateral trade and establishment of the embassy, China will be unwilling to make any major concession in the western sector which is strategically important to China which at the same time is equally of strategic importance to India too.
* There are two views in India on the border problems between Bhutan and China. One view is that Bhutan’s border problem will be settled once the border dispute between India and China is resolved. The other view is that once Bhutan is weaned away from India, the Chinese will probably be more reasonable and may be more generous.
While the first position is unlikely, there are no reasons to believe that the Chinese are going to be generous in the second case- as China is very unlikely to give up its position in the four areas of the western sector which is equally important for Bhutan’s security too.
In the near future while major clashes may not occur between the PLA and RBA, China will continue to tease and bully Bhutan and its border outpost personnel. This is the China that is supposed to rise “peacefully”! .
( Courtesy: www.southasiaanalysis.org. The writer, Dr S.Chandrasekharan is Director of South Asia Analysis Group, New Delhi.Email:south@southasiaanalysis.org)
By: Dr S.Chandrasekharan, C3S Paper No.431 dated January 15, 2010
INDO-NEPAL RELATIONS:India ready to review the 1950 Treaty, says Krishna
BY Prerana Marasini
India has reiterated its willingness to review the controversial 1950 Nepal-India Friendship Treaty. Indian Minister for External Affairs S.M. Krishna who is here on a three-day visit has told this to Nepal’s Deputy Prime Minister Sujata Koirala who also holds the portfolio of Foreign Affairs.
“India is positive to review the Treaty,” Ms. Koirala told reporters after meeting her Indian counterpart in Kathmandu. She said times have changed since the treaty was signed. Although there were agreements in the past between the two countries to review the treaty, the latest remark from India has come a day after the Unified Communist Party of Nepal (Maoist) burnt copies of “unequal agreements” Nepal signed with India, including the 1950 Treaty.
The Maoists have launched a movement to protect Nepal’s sovereignty since January. They say Nepal’s sovereignty is in danger because of foreign interference, pointing at India. But Mr. Krishna told journalists that Nepal was top priority in India’s foreign policy.He will be meeting Maoist Chairman Pushpa Kamal Dahal ‘Prachanda’ on Saturday.
Meanwhile, Foreign Minister Sujata Koirala said she told the Indian side that Nepal would give India’s security concerns a big priority. She also discussed ways to deal with cross-border problems, detection of fake currency, human and drug trafficking, and other problems at the border.
Mr. Krishna, who is here on a three-day visit, also met with Prime Minister Madhav Kumar Nepal on Friday. He would be meeting President Ram Baran Yadav and Nepali Congress President Girija Prasad Koirala on Saturday. He will also be laying foundation of the Integrated Check Post in Birgunj.
Ms. Koirala and Mr. Krishna signed a memorandum of understanding (MoU) to strengthen road infrastructure in the Terai region of Nepal. The assistance is worth NPR 1300 crore.
Three other MoUs in presence of the Ministers were also signed between Nepal and India which include electrification of five village development committees, establishment of Nepal-Bharat Maitri Science Learning Center in Nepal, and an agreement between Nepal Stock Exchange Limited and Central Depository Services (India).
BY Prerana Marasini
India has reiterated its willingness to review the controversial 1950 Nepal-India Friendship Treaty. Indian Minister for External Affairs S.M. Krishna who is here on a three-day visit has told this to Nepal’s Deputy Prime Minister Sujata Koirala who also holds the portfolio of Foreign Affairs.
“India is positive to review the Treaty,” Ms. Koirala told reporters after meeting her Indian counterpart in Kathmandu. She said times have changed since the treaty was signed. Although there were agreements in the past between the two countries to review the treaty, the latest remark from India has come a day after the Unified Communist Party of Nepal (Maoist) burnt copies of “unequal agreements” Nepal signed with India, including the 1950 Treaty.
The Maoists have launched a movement to protect Nepal’s sovereignty since January. They say Nepal’s sovereignty is in danger because of foreign interference, pointing at India. But Mr. Krishna told journalists that Nepal was top priority in India’s foreign policy.He will be meeting Maoist Chairman Pushpa Kamal Dahal ‘Prachanda’ on Saturday.
Meanwhile, Foreign Minister Sujata Koirala said she told the Indian side that Nepal would give India’s security concerns a big priority. She also discussed ways to deal with cross-border problems, detection of fake currency, human and drug trafficking, and other problems at the border.
Mr. Krishna, who is here on a three-day visit, also met with Prime Minister Madhav Kumar Nepal on Friday. He would be meeting President Ram Baran Yadav and Nepali Congress President Girija Prasad Koirala on Saturday. He will also be laying foundation of the Integrated Check Post in Birgunj.
Ms. Koirala and Mr. Krishna signed a memorandum of understanding (MoU) to strengthen road infrastructure in the Terai region of Nepal. The assistance is worth NPR 1300 crore.
Three other MoUs in presence of the Ministers were also signed between Nepal and India which include electrification of five village development committees, establishment of Nepal-Bharat Maitri Science Learning Center in Nepal, and an agreement between Nepal Stock Exchange Limited and Central Depository Services (India).
INDIA: NSA M K NARAYANAN LIKELY TO BE SHIFTED
Slimmer portfolio awaits new NSA
Siddharth Varadarajan
Although the decision to shift National Security Adviser M.K. Narayanan out of the Prime Minister’s Office and into a vacant Raj Bhavan has been taken, the government has yet to decide on his successor or the State to which he will go as governor.
One thing, however, is certain: the role and office of the NSA, which is still very much a work in progress as far as the wider architecture of governance is concerned, is likely to focus more exclusively on the problems of diplomatic engagement rather than internal security management.
This shift in emphasis, which began when P. Chidambaram took charge of the Home Ministry in 2008, will both influence — and be influenced by — the choice of the next NSA.
Siddharth Varadarajan
Although the decision to shift National Security Adviser M.K. Narayanan out of the Prime Minister’s Office and into a vacant Raj Bhavan has been taken, the government has yet to decide on his successor or the State to which he will go as governor.
One thing, however, is certain: the role and office of the NSA, which is still very much a work in progress as far as the wider architecture of governance is concerned, is likely to focus more exclusively on the problems of diplomatic engagement rather than internal security management.
This shift in emphasis, which began when P. Chidambaram took charge of the Home Ministry in 2008, will both influence — and be influenced by — the choice of the next NSA.
Top Indian Search Engine Optimization Companies
The independent authority on search vendors, topseos.in has evaluated and highlighted the Top Indian Search Engine Optimization Company , and others, for this month.
The strategy behind search engine optimization is an art. It takes a lot of thought and effort to get a link to the top of search engine results. “Only a company who understands the intricacies of organic optimization will be able to accomplish that,” explains topseos.in.
topseos.in has reviewed these companies for quality and customer service. The 30 Best Indian Search Engine Optimization Services include:
1. SEOValley Solutions Private Limited
2. PageTraffic
3. Techmagnate
4. SEO Tonic
5. Outsource SEO
6. Samyak Online
7. Seo Expert Company India
8. Seo Workz Company
9. Varshyl Tech
10. Guide5.com
11. Communicate2
12. Valuepitch interactive
13. SEO Logistics
14. Performetris
15. eBrandz Inc
16. Web Net Creatives
17. VTech SEO India
18. Niche United IT Solutions Pvt. Ltd.
19. SEOXperts India
20. Cignus Web Services India
21. Cyberframe
22. Glosoft India
23. Palcom Web Pvt. Ltd.
24. SEO Discovery
25. Empowered SEO
26. Webgainmedia
27. Brain Pulse SEO Services
28. E2 Solutions
29. ISHIR Digital
30. Topranker.in
The evaluation criteria for SEO companies includes reviewing the effectiveness of the company by interviewing past and current clients. Project specific queries include, “How many of your top industry keywords rank in the top 10? Which ones?” and “How comprehensive, specific, and useful are the reports that are offered to the client? What metrics do they cover?” The preceding companies best cater to the needs of their clients. Not only are they profitable, but they offer quality services.
The independent authority on search vendors, topseos.in has evaluated and highlighted the Top Indian Search Engine Optimization Company , and others, for this month.
The strategy behind search engine optimization is an art. It takes a lot of thought and effort to get a link to the top of search engine results. “Only a company who understands the intricacies of organic optimization will be able to accomplish that,” explains topseos.in.
topseos.in has reviewed these companies for quality and customer service. The 30 Best Indian Search Engine Optimization Services include:
1. SEOValley Solutions Private Limited
2. PageTraffic
3. Techmagnate
4. SEO Tonic
5. Outsource SEO
6. Samyak Online
7. Seo Expert Company India
8. Seo Workz Company
9. Varshyl Tech
10. Guide5.com
11. Communicate2
12. Valuepitch interactive
13. SEO Logistics
14. Performetris
15. eBrandz Inc
16. Web Net Creatives
17. VTech SEO India
18. Niche United IT Solutions Pvt. Ltd.
19. SEOXperts India
20. Cignus Web Services India
21. Cyberframe
22. Glosoft India
23. Palcom Web Pvt. Ltd.
24. SEO Discovery
25. Empowered SEO
26. Webgainmedia
27. Brain Pulse SEO Services
28. E2 Solutions
29. ISHIR Digital
30. Topranker.in
The evaluation criteria for SEO companies includes reviewing the effectiveness of the company by interviewing past and current clients. Project specific queries include, “How many of your top industry keywords rank in the top 10? Which ones?” and “How comprehensive, specific, and useful are the reports that are offered to the client? What metrics do they cover?” The preceding companies best cater to the needs of their clients. Not only are they profitable, but they offer quality services.
Intuit Money Manager Launched in India
Provides Personal Finance Software Designed to Save Time and Money with 90-day Free Trial
Bangalore
Intuit Inc. today released Intuit Money Manager, the company’s first financial software product developed specifically for consumers in India.
The Web-based Intuit Money Manager is an innovative personal finance tool. It helps you to plan, track and grow your money with just a little effort every week, helping you Save Time and Save Money. It’s the smarter way to manage your money. The product helps consumers manage all personal financial information in a single window; it consolidates personal finances from multiple bank accounts and investments, tracks and categorizes expenses, prepares and calculates taxes and provides clear insight into the health of customers’ personal finances.
Intuit Money Manager is available on Moneycontrol.com and comes with a free 90-day trial period. More information on the product can be found at the Intuit Money Manager Web site.
Mr. Umang Bedi, Managing Director, Intuit India – Global Business Division, said, “Intuit Money Manager gives consumers an easy way to manage their finances. It shows them all their relevant information in just one place, leading them to better decisions and saving significant time. Users can also track their spending trends, showing them how they can save more money. Those who have tested the product give it high ratings. More than 85 percent of early users say they would recommend it to others. Products like this can help people save more money, and stimulate the economy by leading to more informed spending decisions.”
Mr. Vittal Anandkumar, Head – Marketing, Intuit India, Global Business Division, concurred. “Intuit Money Manager assists salaried individuals who want to know how and where they spend their money. It acts like a trusted assistant, saving them time and money while helping them make better personal finance decisions. Their entire financial picture appears on just one screen, eliminating the need to log onto multiple Web sites. Pie charts provide a clear view of their spending habits. And it helps them set goals, create budgets and monitor investments, all in one place.”
The release of Intuit Money Manager is part of Intuit’s comprehensive strategy, announced in 2009, to develop and market products in India for Indian consumers. Intuit Money Manager supports integration with most major banks, such as ICICI Bank, HDFC Bank, and nationalized banks, including the State Bank of India, Union Bank and others.
Provides Personal Finance Software Designed to Save Time and Money with 90-day Free Trial
Bangalore
Intuit Inc. today released Intuit Money Manager, the company’s first financial software product developed specifically for consumers in India.
The Web-based Intuit Money Manager is an innovative personal finance tool. It helps you to plan, track and grow your money with just a little effort every week, helping you Save Time and Save Money. It’s the smarter way to manage your money. The product helps consumers manage all personal financial information in a single window; it consolidates personal finances from multiple bank accounts and investments, tracks and categorizes expenses, prepares and calculates taxes and provides clear insight into the health of customers’ personal finances.
Intuit Money Manager is available on Moneycontrol.com and comes with a free 90-day trial period. More information on the product can be found at the Intuit Money Manager Web site.
Mr. Umang Bedi, Managing Director, Intuit India – Global Business Division, said, “Intuit Money Manager gives consumers an easy way to manage their finances. It shows them all their relevant information in just one place, leading them to better decisions and saving significant time. Users can also track their spending trends, showing them how they can save more money. Those who have tested the product give it high ratings. More than 85 percent of early users say they would recommend it to others. Products like this can help people save more money, and stimulate the economy by leading to more informed spending decisions.”
Mr. Vittal Anandkumar, Head – Marketing, Intuit India, Global Business Division, concurred. “Intuit Money Manager assists salaried individuals who want to know how and where they spend their money. It acts like a trusted assistant, saving them time and money while helping them make better personal finance decisions. Their entire financial picture appears on just one screen, eliminating the need to log onto multiple Web sites. Pie charts provide a clear view of their spending habits. And it helps them set goals, create budgets and monitor investments, all in one place.”
The release of Intuit Money Manager is part of Intuit’s comprehensive strategy, announced in 2009, to develop and market products in India for Indian consumers. Intuit Money Manager supports integration with most major banks, such as ICICI Bank, HDFC Bank, and nationalized banks, including the State Bank of India, Union Bank and others.
TERI Launches GREEN India 2047 Report
A Comprehensive Assessment Report on the Current State of Management of the Country’s Natural Resources, and a Roadmap for India to Embark on the Path of Sustainable Development
On Earth Day 1995, TERI made a commitment that was reflective of our philosophy of sustainable development and protection of the country’s natural resources and the environment. Two years later, commemorating India’s 50th Independence Day, The Energy and Resources Institute (TERI) presented the first GREEN India Report (‘Looking back to Think ahead’) to Mr. I. K. Gujral, the then Prime Minister of India, and his cabinet colleagues. The sequel to the study was released today by Mr. Jairam Ramesh, Hon'ble Minister of State for Environment and Forests in the presence of Dr RK Pachauri, Director General TERI, Dr Vijay Kelkar, Chairman, 13th Finance Commission.
Talking about the importance of the report, Dr RK Pachauri, said “This project started in 1995 to see the state of India's natural resources. Environment, development and quality of life have been the focus of the same. This report has looked at trends, economic cost of degradation and priority issues in environment management in India. The central point to our report is distributive justice -- much of the turmoil today is due to degradation of resources. Hence, for the benefit of the society, we need to have a different approach. The issues define the state of the society -- it is estimated that 4% of GDP is lost due to depletion and resource degradation and we are also paying a huge toll in terms of loss of human life. Our endeavor is to reorient the mindset towards environment.”
While releasing the report, Mr. Jairam Ramesh, said “This is a commendable work done by TERI and is indeed path breaking in nature as it also suggests a way forward to the existing challenges. It is time to mainstream environment concerns and its costs needs to be accounted in GDP. This report is an ambitious agenda. Dr Pachauri has talked about many key issues including -- environment governance. It is important to evolve new models of environment governance that is independent of govt. bodies. MoEF will look into this comprehensive document and find ways with TERI on how the suggestions can be implemented.”
The updated GREEN India 2047 report shows that while some steps have been taken to deal with the problem, in several areas the situation has actually worsened. This forward looking study comes at an opportune time, more so as we are now nearing the Copenhagen Conference of the Parties on climate change.
The first GREEN India 2047 report was a detailed analysis of India’s record of management of its natural resources -- and how choices need to be made for the country to embark on a path of truly sustainable development -- as evidenced by facts and information relating to the 50 years from 1947 to 1997. It was an assessment of where we are likely to end up by 2047, a full hundred years after India’s independence, if we continued on the same path.
The study found that India was losing over 10 percent of its GDP on account of environmental damage and degradation of natural resources. This was essentially because of steady loss of wealth in several spheres including forest and biodiversity, excessive depletion of ground water resources, pollution of rivers and most importantly air pollution in several parts of the country which imposed very heavy costs in the form of health effects and absenteeism from work for those who suffered from several respiratory and other diseases caused by air pollution.
A total of 11 to 26 percent of agricultural output was being lost on account of soil degradation, part of which was caused by human actions. One major message from the findings of the study was that protecting the environment was not merely the dream of environmentalists and activists but an urgent imperative for all those responsible for a vast range of economic activities.
This report argues that the key lies in defining a path of development in India that ensures removal of poverty and, at the same time, protects and conserves the natural resources. The priority is in understanding what is at stake – and the possible solutions.
A number of corporate organizations -- IOC, NTPC, HDFC, Punj Lloyd Ltd. and Gujarat Ambuja Cements Ltd. are supporting this phase of TERI’s painstaking research.
source: Businesswireindia
A Comprehensive Assessment Report on the Current State of Management of the Country’s Natural Resources, and a Roadmap for India to Embark on the Path of Sustainable Development
On Earth Day 1995, TERI made a commitment that was reflective of our philosophy of sustainable development and protection of the country’s natural resources and the environment. Two years later, commemorating India’s 50th Independence Day, The Energy and Resources Institute (TERI) presented the first GREEN India Report (‘Looking back to Think ahead’) to Mr. I. K. Gujral, the then Prime Minister of India, and his cabinet colleagues. The sequel to the study was released today by Mr. Jairam Ramesh, Hon'ble Minister of State for Environment and Forests in the presence of Dr RK Pachauri, Director General TERI, Dr Vijay Kelkar, Chairman, 13th Finance Commission.
Talking about the importance of the report, Dr RK Pachauri, said “This project started in 1995 to see the state of India's natural resources. Environment, development and quality of life have been the focus of the same. This report has looked at trends, economic cost of degradation and priority issues in environment management in India. The central point to our report is distributive justice -- much of the turmoil today is due to degradation of resources. Hence, for the benefit of the society, we need to have a different approach. The issues define the state of the society -- it is estimated that 4% of GDP is lost due to depletion and resource degradation and we are also paying a huge toll in terms of loss of human life. Our endeavor is to reorient the mindset towards environment.”
While releasing the report, Mr. Jairam Ramesh, said “This is a commendable work done by TERI and is indeed path breaking in nature as it also suggests a way forward to the existing challenges. It is time to mainstream environment concerns and its costs needs to be accounted in GDP. This report is an ambitious agenda. Dr Pachauri has talked about many key issues including -- environment governance. It is important to evolve new models of environment governance that is independent of govt. bodies. MoEF will look into this comprehensive document and find ways with TERI on how the suggestions can be implemented.”
The updated GREEN India 2047 report shows that while some steps have been taken to deal with the problem, in several areas the situation has actually worsened. This forward looking study comes at an opportune time, more so as we are now nearing the Copenhagen Conference of the Parties on climate change.
The first GREEN India 2047 report was a detailed analysis of India’s record of management of its natural resources -- and how choices need to be made for the country to embark on a path of truly sustainable development -- as evidenced by facts and information relating to the 50 years from 1947 to 1997. It was an assessment of where we are likely to end up by 2047, a full hundred years after India’s independence, if we continued on the same path.
The study found that India was losing over 10 percent of its GDP on account of environmental damage and degradation of natural resources. This was essentially because of steady loss of wealth in several spheres including forest and biodiversity, excessive depletion of ground water resources, pollution of rivers and most importantly air pollution in several parts of the country which imposed very heavy costs in the form of health effects and absenteeism from work for those who suffered from several respiratory and other diseases caused by air pollution.
A total of 11 to 26 percent of agricultural output was being lost on account of soil degradation, part of which was caused by human actions. One major message from the findings of the study was that protecting the environment was not merely the dream of environmentalists and activists but an urgent imperative for all those responsible for a vast range of economic activities.
This report argues that the key lies in defining a path of development in India that ensures removal of poverty and, at the same time, protects and conserves the natural resources. The priority is in understanding what is at stake – and the possible solutions.
A number of corporate organizations -- IOC, NTPC, HDFC, Punj Lloyd Ltd. and Gujarat Ambuja Cements Ltd. are supporting this phase of TERI’s painstaking research.
source: Businesswireindia
Glacier Monitoring Observatories at East Rathong Glacier, Sikkim
TERI Collaborates with Iceland in the Fields of Glaciology and Soil Science.
SIKKIM included in study
15 Jan 2010:
The challenges facing the international community in the 21st century are primarily posed by changes in the natural environment. This applies to India and the sub-continent more starkly than most other regions of the world, as changes in weather patterns and the climate are bound to cause profound changes in the Himalaya. Of particular consequence will be changes of the glaciers. According to predictions of scientific merit they may indeed melt away in several decades. This, in turn, will have implications for the entire water system of the sub-continent, with immediate effect on soil, water management, and the possibilities of food production.
Looking at the unfolding scenario in the mountains and the immediate need for scientific collaboration and research on this issue, University of Iceland in collaboration with The Energy and Resources Institute (TERI) and the Carnegie Corporation of New York have joined hands to work in the fields of glaciology and soil science, and will enable Indian scientists and students to seek training in Iceland and the United States. The purpose of this joint effort is to improve understanding of the effects of climate change on the Himalaya and the manifold consequences that follow for the possibilities of water management and food production on the plains below.
Present on the occasion was the President of Iceland HE Dr. Ólafur Ragnar GrÃmsson, Dr RK Pachauri, Director-General TERI, and the joint teams from– University of Iceland, Ohio State University and the TERI Glaciology team, headed by Prof Syed Iqbal Hasnain.
Speaking on research and collaboration in the field of glaciers, HE Dr. Ólafur Ragnar GrÃmsson, said, “There is an immediate need to enhance the knowledge of receding glaciers, which will have a major impact on ecology and social security. Consequently, the potential impacts of climate change in the Himalayan region are very likely to have a strong influence on food and water security. Hence it is important to bring the scientists from India and Iceland on a common platform and discuss on the future framework of research cooperation.”
Elaborating on the collaboration, Dr RK Pachauri, said, “The presence of Iceland as a country makes this initiative of great value as Iceland has a great understanding of this issue, which goes back a century. Scientific data assimilated by IPCC is very robust and it is universally acknowledged that glaciers are melting because of climate change. The Energy & Resources Institute (TERI) in its endeavor to facilitate the development of an effective policy framework and their strategic implementation for the adaptation and mitigation of climate change impacts on the local population is happy to collaborate with the University of Iceland, Ohio State University and the Carnegie Corporation of New York, under the leadership of HE Dr. Ólafur Ragnar GrÃmsson. ”
Elaborating on the Himalayan scenario and explaining that TERI has already started working in the area of receding glaciers, Prof. Syed Iqbal Hasnain, Distinguished Fellow, TERI said “Himalayan region holds the key to Indian ecological and social security by virtue of its being the centre for biological and cultural diversity, the final destination of its life sustaining monsoon, and storehouse for snow and glaciers and other natural resources. However, global warming by long lived and short lived climate forcers is adversely affecting the Himalayan cryosphere, impacting food and water security for 1.3 billion people. This collaboration will provide latest information on status of Himalayan glaciers to the policy makers.”
Under this collaboration, senior scientists from the respective countries will exchange latest information on glaciers through organising workshops and training programmes.. President Grimsson announced his intention to dedicate the funds associated with the Nehru Prize for International Understanding conferred to him by the Government of India, to support scientific collaboration between India and Iceland.
TERI has initiated the establishment of Glacier Monitoring Observatories at Kolahoi Glacier, Jammu and Kashmir and another at East Rathong Glacier, Sikkim.
These two glaciers are being monitored with the state-of-art scientific instruments on a regular basis for various parameters like Energy Balance, Mass Balance and Hydrological Balance for the glacierized region. However, in order to broaden the scope of glacier research, that may represent all the micro-climatic settings across Himalaya, and may ensure highly accurate predictions for the future flow patterns of Himalayan rivers, leading to the development of regional stream flow models, more benchmark glaciers need to be included in TERI’s network of Glacier Monitoring Observatories. All these Glaciers need to be studied simultaneously on a long term basis for all the climate change parameters regulating the melting patterns of Himalayan glaciers. This collaboration will help in policy making towards adaptation and mitigation strategy and help in developing a regional model whereby enhancing the observing system.
SIKKIM included in study
15 Jan 2010:
The challenges facing the international community in the 21st century are primarily posed by changes in the natural environment. This applies to India and the sub-continent more starkly than most other regions of the world, as changes in weather patterns and the climate are bound to cause profound changes in the Himalaya. Of particular consequence will be changes of the glaciers. According to predictions of scientific merit they may indeed melt away in several decades. This, in turn, will have implications for the entire water system of the sub-continent, with immediate effect on soil, water management, and the possibilities of food production.
Looking at the unfolding scenario in the mountains and the immediate need for scientific collaboration and research on this issue, University of Iceland in collaboration with The Energy and Resources Institute (TERI) and the Carnegie Corporation of New York have joined hands to work in the fields of glaciology and soil science, and will enable Indian scientists and students to seek training in Iceland and the United States. The purpose of this joint effort is to improve understanding of the effects of climate change on the Himalaya and the manifold consequences that follow for the possibilities of water management and food production on the plains below.
Present on the occasion was the President of Iceland HE Dr. Ólafur Ragnar GrÃmsson, Dr RK Pachauri, Director-General TERI, and the joint teams from– University of Iceland, Ohio State University and the TERI Glaciology team, headed by Prof Syed Iqbal Hasnain.
Speaking on research and collaboration in the field of glaciers, HE Dr. Ólafur Ragnar GrÃmsson, said, “There is an immediate need to enhance the knowledge of receding glaciers, which will have a major impact on ecology and social security. Consequently, the potential impacts of climate change in the Himalayan region are very likely to have a strong influence on food and water security. Hence it is important to bring the scientists from India and Iceland on a common platform and discuss on the future framework of research cooperation.”
Elaborating on the collaboration, Dr RK Pachauri, said, “The presence of Iceland as a country makes this initiative of great value as Iceland has a great understanding of this issue, which goes back a century. Scientific data assimilated by IPCC is very robust and it is universally acknowledged that glaciers are melting because of climate change. The Energy & Resources Institute (TERI) in its endeavor to facilitate the development of an effective policy framework and their strategic implementation for the adaptation and mitigation of climate change impacts on the local population is happy to collaborate with the University of Iceland, Ohio State University and the Carnegie Corporation of New York, under the leadership of HE Dr. Ólafur Ragnar GrÃmsson. ”
Elaborating on the Himalayan scenario and explaining that TERI has already started working in the area of receding glaciers, Prof. Syed Iqbal Hasnain, Distinguished Fellow, TERI said “Himalayan region holds the key to Indian ecological and social security by virtue of its being the centre for biological and cultural diversity, the final destination of its life sustaining monsoon, and storehouse for snow and glaciers and other natural resources. However, global warming by long lived and short lived climate forcers is adversely affecting the Himalayan cryosphere, impacting food and water security for 1.3 billion people. This collaboration will provide latest information on status of Himalayan glaciers to the policy makers.”
Under this collaboration, senior scientists from the respective countries will exchange latest information on glaciers through organising workshops and training programmes.. President Grimsson announced his intention to dedicate the funds associated with the Nehru Prize for International Understanding conferred to him by the Government of India, to support scientific collaboration between India and Iceland.
TERI has initiated the establishment of Glacier Monitoring Observatories at Kolahoi Glacier, Jammu and Kashmir and another at East Rathong Glacier, Sikkim.
These two glaciers are being monitored with the state-of-art scientific instruments on a regular basis for various parameters like Energy Balance, Mass Balance and Hydrological Balance for the glacierized region. However, in order to broaden the scope of glacier research, that may represent all the micro-climatic settings across Himalaya, and may ensure highly accurate predictions for the future flow patterns of Himalayan rivers, leading to the development of regional stream flow models, more benchmark glaciers need to be included in TERI’s network of Glacier Monitoring Observatories. All these Glaciers need to be studied simultaneously on a long term basis for all the climate change parameters regulating the melting patterns of Himalayan glaciers. This collaboration will help in policy making towards adaptation and mitigation strategy and help in developing a regional model whereby enhancing the observing system.
Friday, January 15, 2010
EXPEDITE REFORM IN MEDICAL EDUCATION SECTOR
INDIA:STATE HEALTH SECRETARIES’ MEETING BEGINS IN NEW DELHI
15 JAN 2010 13:10 IST
The Union Minister for Health & Family Welfare, Shri Ghulam Nabi Azad has called upon states to expedite reforms in medical education sector. Addressing the two days State Health Secretaries’ Meeting here today, Shri Azad said that
Ministry and Medical Council of India has recently amended Post Graduate Medical Education Regulations wherein the teacher student ratio has been revised from 1:1 to 1:2.
The MCI Regulations were amended in order to enable the Medical Colleges to increase seats in Postgraduate Medical courses.
The Health Ministry and the Medical Council of India have requested all the State Governments to instruct the Government Medical Colleges in their States to send the information with regard to availability of teaching faculty. “I would request all the State Governments to send the details of teaching faculty in Government Medical Colleges in their respective States at the earliest, so that the same can be considered for increase of Postgraduate seats in the light of amended PG Regulations”, said Shri Azad.
On the same front the Health Minister informed that the basic formalities of introducing a three and a half year course in bachelor degree in Medicine and Surgery is in place. These doctors will work in rural areas and district hospitals with specified bed capacities can be utilized as medical schools for these courses. The Minister informed that MCI is holding a meeting with Vice Chancellors in the first week of February 2010 to fine tune the modalities.
The Minister also told the Health Secretaries that the Ministry is in the process of working out strategy for checking diabetes in all people in the age group of 30-40 years in rural areas for diagnosing potential cases. He said, while rural areas will require option of glucometer, in urban areas State Governments can use laboratories to check diabetes. Recalling the assurance from Pune’s local authorities during a recent visit, Shri Azad said that the local authorities have promised to cover entire district to diagnose people suffering from diabetes and blood pressure. The other States should follow this example, said the Minister.
Shri Azad emphasized need to augment efforts in the areas of reproductive and child health, vector borne diseases, leprosy elimination and non-communicable diseases. He informed that he has asked the Ministry to develop a system for tracking pregnant mother and children to ascertain the status of ante-natal and post-natal care and institution delivery and immunization of the children.
Earlier Minister of State Shri Dinesh Trivedi, Secretary, Health, Ms. K. Sujatha Rao welcomed the participants. The two-day meeting will discuss disease control programmes, maternal and child health, immunization, PMSSY and medical education issues, as well as, new initiatives, will be discussed in detail and action plans chalked-out, for carrying them forward.
15 JAN 2010 13:10 IST
The Union Minister for Health & Family Welfare, Shri Ghulam Nabi Azad has called upon states to expedite reforms in medical education sector. Addressing the two days State Health Secretaries’ Meeting here today, Shri Azad said that
Ministry and Medical Council of India has recently amended Post Graduate Medical Education Regulations wherein the teacher student ratio has been revised from 1:1 to 1:2.
The MCI Regulations were amended in order to enable the Medical Colleges to increase seats in Postgraduate Medical courses.
The Health Ministry and the Medical Council of India have requested all the State Governments to instruct the Government Medical Colleges in their States to send the information with regard to availability of teaching faculty. “I would request all the State Governments to send the details of teaching faculty in Government Medical Colleges in their respective States at the earliest, so that the same can be considered for increase of Postgraduate seats in the light of amended PG Regulations”, said Shri Azad.
On the same front the Health Minister informed that the basic formalities of introducing a three and a half year course in bachelor degree in Medicine and Surgery is in place. These doctors will work in rural areas and district hospitals with specified bed capacities can be utilized as medical schools for these courses. The Minister informed that MCI is holding a meeting with Vice Chancellors in the first week of February 2010 to fine tune the modalities.
The Minister also told the Health Secretaries that the Ministry is in the process of working out strategy for checking diabetes in all people in the age group of 30-40 years in rural areas for diagnosing potential cases. He said, while rural areas will require option of glucometer, in urban areas State Governments can use laboratories to check diabetes. Recalling the assurance from Pune’s local authorities during a recent visit, Shri Azad said that the local authorities have promised to cover entire district to diagnose people suffering from diabetes and blood pressure. The other States should follow this example, said the Minister.
Shri Azad emphasized need to augment efforts in the areas of reproductive and child health, vector borne diseases, leprosy elimination and non-communicable diseases. He informed that he has asked the Ministry to develop a system for tracking pregnant mother and children to ascertain the status of ante-natal and post-natal care and institution delivery and immunization of the children.
Earlier Minister of State Shri Dinesh Trivedi, Secretary, Health, Ms. K. Sujatha Rao welcomed the participants. The two-day meeting will discuss disease control programmes, maternal and child health, immunization, PMSSY and medical education issues, as well as, new initiatives, will be discussed in detail and action plans chalked-out, for carrying them forward.
INDIA:GEO THERMAL ENERGY DEVELOPMENT
INDIA: co-operation with Iceland for progress in geothermal energy development
15 Jan 2010 17:12 IST
Dr. Farooq Abdullah, Union Minister of New and Renewable Energy has said that bilateral co-operation with Iceland is essential to make progress in the area of geothermal energy development. Addressing the India-Iceland workshop on Renewable Energy in New Delhi today, he listed out areas likely for cooperation between the two countries including technology transfer on deep drilling, reservoir assessment and setting up of geothermal demonstration power plants.
The chief guest at the inaugural session of the workshop was Dr. Olafur Ragnar Grimsson, President of Iceland. Ms. Preneet Kaur, Minister of State for External Affairs and Dr. R. K. Pachauri, DG – TERI and Chairman – IPCC also participated in the workshop.
Iceland being well recognized by UNESCO to provide training in geothermal energy development should consider training a group of Indian engineers and scientists on all the aspects of geothermal energy utilization, Dr Abdullah said.
The Ministry of New and Renewable Energy organized the India-Iceland Workshop on Renewable Energy with focus on development and utilization of Geothermal Energy and Small Hydro Power.
Iceland’s success in the utilization of locally available renewable energy sources, especially the geothermal energy and hydro power, has contributed substantially to its economy. Iceland is one among the top six countries in the world in utilization of geothermal energy with installed power generating capacity of about 575 MW against global geothermal power generating capacity of about 10,500 MW. In addition, geothermal heat meets the heating and hot water requirements of about 87% of Iceland’s housing.
India has high temperature geothermal fields with temperature of about 250 oC at Puga in Jammu and Kashmir and Tattapani in Chhattisgarh. There are some medium temperature resources with temperature of about 150oC in the states like Jharkhand, Uttarakhand, Maharashtra, Gujarat etc. The workshop discussed issues relating to cooperation between India and Iceland for development of geothermal sector in India by assessing the geothermal resources and its utilization for power generation and thermal applications. About 100 delegates from India and Iceland participated in the workshop.
The workshop also deliberated on cooperation in the area of small hydro power sector. So far about 700 small hydropower projects aggregating to 2,558 MW have been set up in various parts of India and 290 projects of about 900 MW are in various stages of implementation. The total installed hydropower capacity in Iceland is about 2400 MW.
15 Jan 2010 17:12 IST
Dr. Farooq Abdullah, Union Minister of New and Renewable Energy has said that bilateral co-operation with Iceland is essential to make progress in the area of geothermal energy development. Addressing the India-Iceland workshop on Renewable Energy in New Delhi today, he listed out areas likely for cooperation between the two countries including technology transfer on deep drilling, reservoir assessment and setting up of geothermal demonstration power plants.
The chief guest at the inaugural session of the workshop was Dr. Olafur Ragnar Grimsson, President of Iceland. Ms. Preneet Kaur, Minister of State for External Affairs and Dr. R. K. Pachauri, DG – TERI and Chairman – IPCC also participated in the workshop.
Iceland being well recognized by UNESCO to provide training in geothermal energy development should consider training a group of Indian engineers and scientists on all the aspects of geothermal energy utilization, Dr Abdullah said.
The Ministry of New and Renewable Energy organized the India-Iceland Workshop on Renewable Energy with focus on development and utilization of Geothermal Energy and Small Hydro Power.
Iceland’s success in the utilization of locally available renewable energy sources, especially the geothermal energy and hydro power, has contributed substantially to its economy. Iceland is one among the top six countries in the world in utilization of geothermal energy with installed power generating capacity of about 575 MW against global geothermal power generating capacity of about 10,500 MW. In addition, geothermal heat meets the heating and hot water requirements of about 87% of Iceland’s housing.
India has high temperature geothermal fields with temperature of about 250 oC at Puga in Jammu and Kashmir and Tattapani in Chhattisgarh. There are some medium temperature resources with temperature of about 150oC in the states like Jharkhand, Uttarakhand, Maharashtra, Gujarat etc. The workshop discussed issues relating to cooperation between India and Iceland for development of geothermal sector in India by assessing the geothermal resources and its utilization for power generation and thermal applications. About 100 delegates from India and Iceland participated in the workshop.
The workshop also deliberated on cooperation in the area of small hydro power sector. So far about 700 small hydropower projects aggregating to 2,558 MW have been set up in various parts of India and 290 projects of about 900 MW are in various stages of implementation. The total installed hydropower capacity in Iceland is about 2400 MW.
Creating World-Class Education in India
Creating World-Class Education in India
With nearly two-thirds of its population under the age of 35, India has the world's largest pool of young people. However, only 11% of those aged 17-23 receive higher education.
How will the recent increase in the national budget for higher education transform India into a world-class educational hub and ensure access for all its youth?
Key Points
• Reform of the Indian education system is urgently needed
• Education in India should be accessible, affordable and accountable
• Public-private partnerships should be explored as a means of funding
• More students should be encouraged to take vocational courses
• Technology has a key role to play
Synopsis
Of the 22 million children who go to school in India, only 12.4% go on to further education, compared with 63% in the US and more than 50% in Europe. India’s immediate goal is to raise this number to 20% by 2020.
World-class, higher education institutions are needed to create a successful, competitive workforce. However, the creation of such institutions takes time – at least two or three decades. To create such institutions, it is essential to have a “critical mass” of students moving from secondary to higher education, and to raise standards in education across the board. Only then is it possible to start competing with the best educational institutions in the world.
Reform of the Indian education system is long overdue. The fact that 70% of the 509 million people in India’s workforce have not received primary education demonstrates the urgent need for change. The question is: how should India make these changes?
The education system should be completely overhauled and made accessible, affordable and accountable. There needs to be more flexibility and mobility. Public-private partnerships should be explored as a means of funding the changes. Increased funding from philanthropists should also be encouraged. Technology and online courses have a key role to play in increasing access to education.
India is currently a “degree-obsessed” nation. There is a need to destigmatize vocational training and equip students with the skills required by industry. This involves a change in mindsets.
Quality education is tremendously important to the growth and development of a nation. It is vital to motivate young people to invest their time in education and energize and inspire them about future possibilities.
With nearly two-thirds of its population under the age of 35, India has the world's largest pool of young people. However, only 11% of those aged 17-23 receive higher education.
How will the recent increase in the national budget for higher education transform India into a world-class educational hub and ensure access for all its youth?
Key Points
• Reform of the Indian education system is urgently needed
• Education in India should be accessible, affordable and accountable
• Public-private partnerships should be explored as a means of funding
• More students should be encouraged to take vocational courses
• Technology has a key role to play
Synopsis
Of the 22 million children who go to school in India, only 12.4% go on to further education, compared with 63% in the US and more than 50% in Europe. India’s immediate goal is to raise this number to 20% by 2020.
World-class, higher education institutions are needed to create a successful, competitive workforce. However, the creation of such institutions takes time – at least two or three decades. To create such institutions, it is essential to have a “critical mass” of students moving from secondary to higher education, and to raise standards in education across the board. Only then is it possible to start competing with the best educational institutions in the world.
Reform of the Indian education system is long overdue. The fact that 70% of the 509 million people in India’s workforce have not received primary education demonstrates the urgent need for change. The question is: how should India make these changes?
The education system should be completely overhauled and made accessible, affordable and accountable. There needs to be more flexibility and mobility. Public-private partnerships should be explored as a means of funding the changes. Increased funding from philanthropists should also be encouraged. Technology and online courses have a key role to play in increasing access to education.
India is currently a “degree-obsessed” nation. There is a need to destigmatize vocational training and equip students with the skills required by industry. This involves a change in mindsets.
Quality education is tremendously important to the growth and development of a nation. It is vital to motivate young people to invest their time in education and energize and inspire them about future possibilities.
Investing in Girls, Investing in Development – The Girl Effect
Empowering girls breaks the cycle of intergenerational poverty and helps build sustainable economies.
What needs to be done by business and government to ensure that girls are placed at the forefront of the regional development agenda?
Key Points
• Girls should be perceived as a resource and an asset and not as victims
• Unleashing the potential of girls and women is a major engine for economic growth
• Today’s girls are tomorrow’s mothers and can therefore be a key agent for change
• Raising the status of girls can break the poverty cycle
• Economic progress has the potential to change deeply entrenched beliefs
• A change in men’s attitudes is a crucial factor in women’s advancement
Synopsis
According to the last census, only 933 girls are born in India for every 1,000 boys – an imbalance believed to stem from the practice of female foeticide. Discrimination against girls and women exists at every level of society and in urban as well as rural areas.
In attempting to deal with the issue, it is vital to stop looking at girls as victims and start perceiving them as a resource and an asset. Unleashing this potential would provide India with major engine of growth and could add US$ 56 billion to the Indian economy annually.
Children’s earliest role model is their mother. Today’s girls are tomorrow’s mothers, and investing in them is a crucial agent for change.
The rights of girls and women are built into India’s constitution yet, to date, too little action has been taken.
The low status of girls provides an infrastructure for poverty. It is hardly surprising so many drop out of secondary and tertiary education because they are required to do so many chores for their families and communities. Education is the answer. One possible solution is to offer economic rewards to families if girls regularly attend school or complete their education.
Beliefs and traditions are deeply entrenched. In India, there is enormous pressure on girls to see marriage as the centrepiece of their lives. However, things are changing slowly. Many ordinary Indian women are determined that their daughters will not relive their own experiences and work hard to give them an education.
Remarkable changes in deeply engrained attitudes can be brought about by economic progress.
A holistic approach is needed with initiatives at every level – to increase women’s participation in education, improve their employment opportunities and create mechanisms to encourage fewer women to drop out of the workplace. Employers have a key role to play in educating their workers about women’s rights.
A key factor is the education of men. If men can be made to feel responsible for women’s advancement, the catalyst for change will be far greater.
Empowering girls breaks the cycle of intergenerational poverty and helps build sustainable economies.
What needs to be done by business and government to ensure that girls are placed at the forefront of the regional development agenda?
Key Points
• Girls should be perceived as a resource and an asset and not as victims
• Unleashing the potential of girls and women is a major engine for economic growth
• Today’s girls are tomorrow’s mothers and can therefore be a key agent for change
• Raising the status of girls can break the poverty cycle
• Economic progress has the potential to change deeply entrenched beliefs
• A change in men’s attitudes is a crucial factor in women’s advancement
Synopsis
According to the last census, only 933 girls are born in India for every 1,000 boys – an imbalance believed to stem from the practice of female foeticide. Discrimination against girls and women exists at every level of society and in urban as well as rural areas.
In attempting to deal with the issue, it is vital to stop looking at girls as victims and start perceiving them as a resource and an asset. Unleashing this potential would provide India with major engine of growth and could add US$ 56 billion to the Indian economy annually.
Children’s earliest role model is their mother. Today’s girls are tomorrow’s mothers, and investing in them is a crucial agent for change.
The rights of girls and women are built into India’s constitution yet, to date, too little action has been taken.
The low status of girls provides an infrastructure for poverty. It is hardly surprising so many drop out of secondary and tertiary education because they are required to do so many chores for their families and communities. Education is the answer. One possible solution is to offer economic rewards to families if girls regularly attend school or complete their education.
Beliefs and traditions are deeply entrenched. In India, there is enormous pressure on girls to see marriage as the centrepiece of their lives. However, things are changing slowly. Many ordinary Indian women are determined that their daughters will not relive their own experiences and work hard to give them an education.
Remarkable changes in deeply engrained attitudes can be brought about by economic progress.
A holistic approach is needed with initiatives at every level – to increase women’s participation in education, improve their employment opportunities and create mechanisms to encourage fewer women to drop out of the workplace. Employers have a key role to play in educating their workers about women’s rights.
A key factor is the education of men. If men can be made to feel responsible for women’s advancement, the catalyst for change will be far greater.
INDIA: Call for redesigning India's Entrepreneurial Ecosystem
INDIA: Call for redesigning India's Entrepreneurial Ecosystem
Every body likes a safest and secure job- IAS/IFS/IRS/GOVT JOBS
Despite continued GDP growth, India's entrepreneurial ecosystem is challenged by regulation and lack of seed capital, mentors and diversification of industry sectors.
What must be done in the fields of education, regulation, innovation, infrastructure and finance to produce the next wave of Indian entrepreneurs?
Key Points
• Creating an entrepreneurial ecosystem requires a multistakeholder approach
• The Indian education system has to be reoriented to deliver effective teaching of entrepreneurship
• Entrepreneurship education should not be regarded as an option for those who have failed or not performed well in school; it can and should be taught in all types of schools
• Promoting role models of successful entrepreneurs through the media and other means will serve as inspiration to people to become entrepreneurs
• Regulation and tax regimes need to be reformed to provide incentives to encourage entrepreneurs to take risks and not fear failure
• Banks, especially the dominant state-owned institutions, need to make it easier for entrepreneurs to access capital
Synopsis
Despite the lack of an adequate ecosystem to promote entrepreneurship, India has nonetheless managed to produce numerous successful entrepreneurs, particularly in the IT sector, where the country has made its mark in the global market. If India is able to address the deficiencies in its enterprise support system, it could promote the creation of many more successful small and medium-sized enterprises and drive new long-term economic growth that is socially inclusive.
A key obstacle is the stigma still attached to becoming an entrepreneur in a society where traditional professions remain the most popular and respected options for entrants into the job market. For this reason, reshaping the education system is a critical priority.
Entrepreneurship education should not be regarded as an option only for those who fail or do not perform well in school. It should be available, if not compulsory, in all types of colleges, including the elite institutions. In general, young people must be taught how to take risks.
Entrepreneurship learning must become an integral part of school curricula. More broadly, the government needs to overhaul the education system. Privatization should be considered, with both for-profit and non-profit options available. The links between the business sector and academia must be strengthened. Foreign institutions should be allowed in. Such measures would very quickly widen the access to education, especially in rural areas.
Financing is also another bottleneck that needs to be addressed. Angel investor funding and venture-capital financing are weak in India. Efforts should be made to put together an extensive database of project proposals that would help match investors with enterprises. Networks need to be created to bring angel investors together with those seeking funding. Mentoring by more experienced entrepreneurs is crucial. Success stories should be promoted in the media to inspire people to become entrepreneurs and make becoming an entrepreneur socially acceptable.
Regulatory reforms should be implemented to require the dominant state banks to allocate funds to support entrepreneurs. Tax regimes should also be revised to provide tax breaks to entrepreneurs to mitigate the risks they face. The government should take further measures to make it easier to set up businesses, plan their growth and scale up enterprises. The application of e-governance systems could help streamline licensing and promote greater transparency. The government should demolish any structures that prevent entrepreneurs from adopting socially inclusive business models.
source: world economic forum
Every body likes a safest and secure job- IAS/IFS/IRS/GOVT JOBS
Despite continued GDP growth, India's entrepreneurial ecosystem is challenged by regulation and lack of seed capital, mentors and diversification of industry sectors.
What must be done in the fields of education, regulation, innovation, infrastructure and finance to produce the next wave of Indian entrepreneurs?
Key Points
• Creating an entrepreneurial ecosystem requires a multistakeholder approach
• The Indian education system has to be reoriented to deliver effective teaching of entrepreneurship
• Entrepreneurship education should not be regarded as an option for those who have failed or not performed well in school; it can and should be taught in all types of schools
• Promoting role models of successful entrepreneurs through the media and other means will serve as inspiration to people to become entrepreneurs
• Regulation and tax regimes need to be reformed to provide incentives to encourage entrepreneurs to take risks and not fear failure
• Banks, especially the dominant state-owned institutions, need to make it easier for entrepreneurs to access capital
Synopsis
Despite the lack of an adequate ecosystem to promote entrepreneurship, India has nonetheless managed to produce numerous successful entrepreneurs, particularly in the IT sector, where the country has made its mark in the global market. If India is able to address the deficiencies in its enterprise support system, it could promote the creation of many more successful small and medium-sized enterprises and drive new long-term economic growth that is socially inclusive.
A key obstacle is the stigma still attached to becoming an entrepreneur in a society where traditional professions remain the most popular and respected options for entrants into the job market. For this reason, reshaping the education system is a critical priority.
Entrepreneurship education should not be regarded as an option only for those who fail or do not perform well in school. It should be available, if not compulsory, in all types of colleges, including the elite institutions. In general, young people must be taught how to take risks.
Entrepreneurship learning must become an integral part of school curricula. More broadly, the government needs to overhaul the education system. Privatization should be considered, with both for-profit and non-profit options available. The links between the business sector and academia must be strengthened. Foreign institutions should be allowed in. Such measures would very quickly widen the access to education, especially in rural areas.
Financing is also another bottleneck that needs to be addressed. Angel investor funding and venture-capital financing are weak in India. Efforts should be made to put together an extensive database of project proposals that would help match investors with enterprises. Networks need to be created to bring angel investors together with those seeking funding. Mentoring by more experienced entrepreneurs is crucial. Success stories should be promoted in the media to inspire people to become entrepreneurs and make becoming an entrepreneur socially acceptable.
Regulatory reforms should be implemented to require the dominant state banks to allocate funds to support entrepreneurs. Tax regimes should also be revised to provide tax breaks to entrepreneurs to mitigate the risks they face. The government should take further measures to make it easier to set up businesses, plan their growth and scale up enterprises. The application of e-governance systems could help streamline licensing and promote greater transparency. The government should demolish any structures that prevent entrepreneurs from adopting socially inclusive business models.
source: world economic forum
INDIA: A Roadmap for India’s Next Generation of Growth
INDIA: A Roadmap for India’s Next Generation of Growth
Highlight:Leaders in positions of power have to be held accountable for executing projects and development plans – or they should be replaced.
India has the potential to emerge as one of the world’s four largest economies by 2020, but it will require coordinated efforts by current and future leaders from government, industry and civil society to address pressing challenges.
Key Points
• India’s security is under control. The country is no more vulnerable to a terrorist attack than any other, according to its government.
• To succeed in generating the growth it needs to sustain progress over the long term, India must address significant potential bottlenecks such as its infrastructure gap and skills deficit.
• To be more effective in turning words into action, India’s leaders must be held accountable for their performance. If they do not deliver, they should be replaced.
• Business to government: Just do it!
Synopsis
The first part of the session focused on the question of India’s security challenges, which are no different from those faced by other countries, it was argued. The country is no more vulnerable than others and has the capacity to thwart any terrorist attack. Should there be one, India possesses the capacity to contain it and respond in a swift and decisive manner, it was further contended. Disruptions of law and order and the threat of terrorism are affecting India’s ability to promote investment and promote growth.
During the session, the six Summit co-chairs reviewed the discussions of the past three days and how to move forward on an agenda to drive new growth to sustain India’s long-term progress. On the need to address the country’s poor infrastructure, government simply needs to execute its ambitious plans, including the objective of building 20 kilometres of roads a day. India will not generate the millions of new jobs it needs in the coming decades if it does not resolve its infrastructure gap.
This got to the heart of a major challenge for the country – to get from words to action. Plans and ambitions are one thing; execution is what yields real results. Indeed, there has been talk for years about India’s need to empower women and educate girls. Yet, its performance in the recent World Economic Forum Global Gender Gap Report was poor, prompting calls for an urgent meeting of relevant government ministers with business and civil society leaders to make the issue a top priority – an economic imperative and not just a good thing to do.
India also has to be more effective in addressing its demographic challenges, especially addressing its “youth bulge” and mobilizing its abundant human resources to ensure that growth is inclusive. If the large numbers of young people are not educated, their lack of skills could lead to dislocation and instability. In general, India must address its severe skills deficit, especially at the middle-income level.
Even so, India must still pay attention to the bottom of the pyramid and the half a billion of its citizens without access to electricity. They must be given power in an environmentally responsible way, through clean energy sources. To do this, India will have to harness its considerable potential for innovation, especially its capacity to find creative low-cost solutions. India could find a lucrative global niche by developing new business models based on low-cost innovations, particularly in green technology and manufacturing.
To move forward, however, this agenda for new growth will require laser-point determination that even many of those familiar with India and Indians themselves doubt the country has. Few doubt that India has the capacity to find solutions to its problems and contribute what it can to address global priorities. The missing factor has been accountability.
Leaders in positions of power have to be held accountable for executing projects and development plans – or they should be replaced. The stakes are high. If any one of the major challenges India faces, such as infrastructure or the skills deficit, is not properly addressed, they are more than likely to become serious bottlenecks to sustainable growth.
source: India Economic Summit
Highlight:Leaders in positions of power have to be held accountable for executing projects and development plans – or they should be replaced.
India has the potential to emerge as one of the world’s four largest economies by 2020, but it will require coordinated efforts by current and future leaders from government, industry and civil society to address pressing challenges.
Key Points
• India’s security is under control. The country is no more vulnerable to a terrorist attack than any other, according to its government.
• To succeed in generating the growth it needs to sustain progress over the long term, India must address significant potential bottlenecks such as its infrastructure gap and skills deficit.
• To be more effective in turning words into action, India’s leaders must be held accountable for their performance. If they do not deliver, they should be replaced.
• Business to government: Just do it!
Synopsis
The first part of the session focused on the question of India’s security challenges, which are no different from those faced by other countries, it was argued. The country is no more vulnerable than others and has the capacity to thwart any terrorist attack. Should there be one, India possesses the capacity to contain it and respond in a swift and decisive manner, it was further contended. Disruptions of law and order and the threat of terrorism are affecting India’s ability to promote investment and promote growth.
During the session, the six Summit co-chairs reviewed the discussions of the past three days and how to move forward on an agenda to drive new growth to sustain India’s long-term progress. On the need to address the country’s poor infrastructure, government simply needs to execute its ambitious plans, including the objective of building 20 kilometres of roads a day. India will not generate the millions of new jobs it needs in the coming decades if it does not resolve its infrastructure gap.
This got to the heart of a major challenge for the country – to get from words to action. Plans and ambitions are one thing; execution is what yields real results. Indeed, there has been talk for years about India’s need to empower women and educate girls. Yet, its performance in the recent World Economic Forum Global Gender Gap Report was poor, prompting calls for an urgent meeting of relevant government ministers with business and civil society leaders to make the issue a top priority – an economic imperative and not just a good thing to do.
India also has to be more effective in addressing its demographic challenges, especially addressing its “youth bulge” and mobilizing its abundant human resources to ensure that growth is inclusive. If the large numbers of young people are not educated, their lack of skills could lead to dislocation and instability. In general, India must address its severe skills deficit, especially at the middle-income level.
Even so, India must still pay attention to the bottom of the pyramid and the half a billion of its citizens without access to electricity. They must be given power in an environmentally responsible way, through clean energy sources. To do this, India will have to harness its considerable potential for innovation, especially its capacity to find creative low-cost solutions. India could find a lucrative global niche by developing new business models based on low-cost innovations, particularly in green technology and manufacturing.
To move forward, however, this agenda for new growth will require laser-point determination that even many of those familiar with India and Indians themselves doubt the country has. Few doubt that India has the capacity to find solutions to its problems and contribute what it can to address global priorities. The missing factor has been accountability.
Leaders in positions of power have to be held accountable for executing projects and development plans – or they should be replaced. The stakes are high. If any one of the major challenges India faces, such as infrastructure or the skills deficit, is not properly addressed, they are more than likely to become serious bottlenecks to sustainable growth.
source: India Economic Summit
INDIA: Re-estimating poverty
by C. P. Chandrasekhar
The incidence of poverty we are now being officially told is much higher than the government has been claiming thus far. The Suresh Tendulkar Committee set up by the Planning Commission has argued that a little more than 37 per cent of Indians live in poverty as compared with the officially estimated 27.5 per cent. The new figure is bound to further stretch the tiresome debate on poverty, in which the issues involved have been clear for some time now. From a political economy perspective the more interesting question relates to the motivation behind the government’s decision to revise its poverty estimate, especially since it has been maximising the political mileage it gets from the decline in poverty incidence indicated by estimates based on the current methodology.
A favourable answer would attribute the revision to the recognition that the earlier method was delivering faulty figures. In the never-ending dispute on the extent of poverty in the country, it has been increasingly accepted that the official estimates were erring on the lower side. There were indeed a few who used the National Accounts Statistics to argue that the National Sample Survey figures on expenditure tended to underestimate consumption and overestimate poverty in the country. But they were an unrecognised minority. For the rest, the problem was that the NSS figures on calorific intake per person, on which poverty estimates were ostensibly anchored, pointed to a significantly higher proportion of poverty then the estimates obtained by adjusting for inflation a set of 1973-74 nominal expenditure figures that were seen as adequate to deliver an average per capita per day calorie intake of 2400 calories in rural areas and 2100 calories in urban areas. Some analysts attempted to explain away the low calorific intake of those seen as being above the “poverty line” by arguing that actually needed nutritional requirements and changing consumption desires were responsible for the divergence.
However, these attempts at obfuscating the issue were challenged by the fact that the nominal expenditure of those who were seen as being at or below the poverty line was embarrassingly low in the rural areas, where it stood at Rs.356.30 per month or around Rs. 12 per day in 2004-05. What is more, the National Commission on Enterprises in the Unorganized Sector pointed out that going by consumer expenditure data 78 per cent of Indians were forced to manage with Rs. 20 or less per day—an expenditure figure which to many was low enough to identify three-fourths of the population as living in poverty.
Whether the Tendulkar Committee was expressly set up to deal with this anomaly or not, it was clear from the outset that it could not go with the low figures of poverty incidence that the government had been citing routinely for the last decade or more. But the Committee was walking a tight rope, since the options in terms of method and sources of data were indeed limited. If it opted for a method which used the direct calorie intake figures available from the NSS reports on consumer expenditure, the proportion of the population below the poverty line would have risen sharply at least in some states, inviting criticism from those who would use the sheer size of the increase to question its validity. On the other hand, if it anchored its estimates on the 1973-74 poverty lines and merely played with the conventionally-used price indices it would be stuck with embarrassingly low poverty incidence estimates.
In the circumstances the Committee has chosen a clever route to a compromise figure. It has accepted the currently prevailing nominal poverty line figure for urban areas on two grounds: first, that it permits in practice a calorific intake per person of around 1775 calories, which though below the 2100 calories urban norm, is close to the FAO calorific norm of 1800; and, second, that the nominal poverty line permits in addition to this a reasonable degree of expenditure on education and health and allows for a better definition of an above-poverty consumption basket.
Having thus defended the nominal 2004-05 poverty line for urban areas, the Committee has decided to use this nominal figure as the anchor for estimating a rural poverty line. This it does by arriving at a purchasing power parity (PPP) equivalent of this figure for rural areas, or a nominal expenditure figure that would allow the same basket to be consumed in rural areas after taking account of rural-urban price differentials. The net result of these exercises is a new set of poverty lines for 2004-05—Rs 446.68 for rural areas and Rs 578.80 for urban areas per capita per month—and a new set of poverty incidence figures that are more or less the same for 2004-05 in urban areas but higher at 41.8 per cent as compared with 28.7 per cent in rural areas.
These figures perhaps sound more “reasonable” in terms of magnitude, even though they are derived from an ostensibly “estimated” but unanchored nominal poverty line for urban areas for 2004-05. But the government appears to be accepting them without much protest. The reason appears to lie somewhere else. Poverty incidence figures matter now not merely because they reveal how many are marginalised in an India seen as “emerging” onto the world stage. They also matter because they provide the numbers of people to whom government schemes of various kinds aimed at addressing the worst forms of deprivation are to be “targeted”. Most social protection and poverty alleviation schemes are directed at the below the poverty line (BPOL) population, in a misguided effort at obtaining more bang for the rupee. If targeting is in fashion, a reasonable estimate of those who deserve the benefit of these schemes is necessary. That was what the earlier poverty estimate was not providing. Moreover, if the number of those targeted is kept small because of an inappropriate poverty incidence estimate, the social legitimacy the government seeks through these schemes would not be garnered. In practice therefore the numbers identified as BPL were much higher than those seen as below the poverty line as per the official poverty incidence figures. In fact, a report prepared by former Planning Commission member N.C. Saxena at the behest of the Rural Development ministry argued that the proportion of the population below the poverty line should be closer to 50 per cent, without specifying a clear method to arrive at that figure. This arbitrariness was obviously discomfiting. It also opened doors to poverty incidence figures that would require budgetary outlays for targeted schemes that would trouble a fiscally conservative government. Thus, since it has managed to legitimise targeting, a method that delivers a middling poverty figure suits the government. It also deals with the embarrassment of those who have to compute and put out poverty incidence figures. The result is a cosy convergence in which the poor are by no means left any better
by C. P. Chandrasekhar
The incidence of poverty we are now being officially told is much higher than the government has been claiming thus far. The Suresh Tendulkar Committee set up by the Planning Commission has argued that a little more than 37 per cent of Indians live in poverty as compared with the officially estimated 27.5 per cent. The new figure is bound to further stretch the tiresome debate on poverty, in which the issues involved have been clear for some time now. From a political economy perspective the more interesting question relates to the motivation behind the government’s decision to revise its poverty estimate, especially since it has been maximising the political mileage it gets from the decline in poverty incidence indicated by estimates based on the current methodology.
A favourable answer would attribute the revision to the recognition that the earlier method was delivering faulty figures. In the never-ending dispute on the extent of poverty in the country, it has been increasingly accepted that the official estimates were erring on the lower side. There were indeed a few who used the National Accounts Statistics to argue that the National Sample Survey figures on expenditure tended to underestimate consumption and overestimate poverty in the country. But they were an unrecognised minority. For the rest, the problem was that the NSS figures on calorific intake per person, on which poverty estimates were ostensibly anchored, pointed to a significantly higher proportion of poverty then the estimates obtained by adjusting for inflation a set of 1973-74 nominal expenditure figures that were seen as adequate to deliver an average per capita per day calorie intake of 2400 calories in rural areas and 2100 calories in urban areas. Some analysts attempted to explain away the low calorific intake of those seen as being above the “poverty line” by arguing that actually needed nutritional requirements and changing consumption desires were responsible for the divergence.
However, these attempts at obfuscating the issue were challenged by the fact that the nominal expenditure of those who were seen as being at or below the poverty line was embarrassingly low in the rural areas, where it stood at Rs.356.30 per month or around Rs. 12 per day in 2004-05. What is more, the National Commission on Enterprises in the Unorganized Sector pointed out that going by consumer expenditure data 78 per cent of Indians were forced to manage with Rs. 20 or less per day—an expenditure figure which to many was low enough to identify three-fourths of the population as living in poverty.
Whether the Tendulkar Committee was expressly set up to deal with this anomaly or not, it was clear from the outset that it could not go with the low figures of poverty incidence that the government had been citing routinely for the last decade or more. But the Committee was walking a tight rope, since the options in terms of method and sources of data were indeed limited. If it opted for a method which used the direct calorie intake figures available from the NSS reports on consumer expenditure, the proportion of the population below the poverty line would have risen sharply at least in some states, inviting criticism from those who would use the sheer size of the increase to question its validity. On the other hand, if it anchored its estimates on the 1973-74 poverty lines and merely played with the conventionally-used price indices it would be stuck with embarrassingly low poverty incidence estimates.
In the circumstances the Committee has chosen a clever route to a compromise figure. It has accepted the currently prevailing nominal poverty line figure for urban areas on two grounds: first, that it permits in practice a calorific intake per person of around 1775 calories, which though below the 2100 calories urban norm, is close to the FAO calorific norm of 1800; and, second, that the nominal poverty line permits in addition to this a reasonable degree of expenditure on education and health and allows for a better definition of an above-poverty consumption basket.
Having thus defended the nominal 2004-05 poverty line for urban areas, the Committee has decided to use this nominal figure as the anchor for estimating a rural poverty line. This it does by arriving at a purchasing power parity (PPP) equivalent of this figure for rural areas, or a nominal expenditure figure that would allow the same basket to be consumed in rural areas after taking account of rural-urban price differentials. The net result of these exercises is a new set of poverty lines for 2004-05—Rs 446.68 for rural areas and Rs 578.80 for urban areas per capita per month—and a new set of poverty incidence figures that are more or less the same for 2004-05 in urban areas but higher at 41.8 per cent as compared with 28.7 per cent in rural areas.
These figures perhaps sound more “reasonable” in terms of magnitude, even though they are derived from an ostensibly “estimated” but unanchored nominal poverty line for urban areas for 2004-05. But the government appears to be accepting them without much protest. The reason appears to lie somewhere else. Poverty incidence figures matter now not merely because they reveal how many are marginalised in an India seen as “emerging” onto the world stage. They also matter because they provide the numbers of people to whom government schemes of various kinds aimed at addressing the worst forms of deprivation are to be “targeted”. Most social protection and poverty alleviation schemes are directed at the below the poverty line (BPOL) population, in a misguided effort at obtaining more bang for the rupee. If targeting is in fashion, a reasonable estimate of those who deserve the benefit of these schemes is necessary. That was what the earlier poverty estimate was not providing. Moreover, if the number of those targeted is kept small because of an inappropriate poverty incidence estimate, the social legitimacy the government seeks through these schemes would not be garnered. In practice therefore the numbers identified as BPL were much higher than those seen as below the poverty line as per the official poverty incidence figures. In fact, a report prepared by former Planning Commission member N.C. Saxena at the behest of the Rural Development ministry argued that the proportion of the population below the poverty line should be closer to 50 per cent, without specifying a clear method to arrive at that figure. This arbitrariness was obviously discomfiting. It also opened doors to poverty incidence figures that would require budgetary outlays for targeted schemes that would trouble a fiscally conservative government. Thus, since it has managed to legitimise targeting, a method that delivers a middling poverty figure suits the government. It also deals with the embarrassment of those who have to compute and put out poverty incidence figures. The result is a cosy convergence in which the poor are by no means left any better
Sikkim Cabinet: Sanctions many projects
GANGTOK, January 14: The State cabinet which met yesterday at Tashiling Secretariat has sanctioned a sum of Rs. 1 crore for construction of ‘Soochna Bhavan’ at Sikkim Jewels Complex, Tadong against the total project cost of Rs. 4.27 crores.
The above sanctioned amount has been transferred to Building & Housing department, informs an IPR release.
The cabinet gave approval for development of 575 bedded multi-specialty hospital and to establish the Radiotherapy facilities at Sichey with other facilities like residential accommodation for doctors, beside sanction of Rs. 2.82 crores for first phase of work for construction of X-Ray block in PHEs. The Sikkim Health and Population policy was also approved.
The cabinet has sanctioned Rs. 20 lakhs to be released in first installment for providing river training work along the right/left bank of Rani Khola below Adampool, East Sikkim against the project cost of Rs. 205.78 lakhs.
The release informs that the cabinet sanctioned Rs. 29.36 lakhs and Rs. 68.63 lakhs for providing Post Matric and Pre-Matric scholarships to 1714 ST students & 79010 ST students respectively. It also sanctioned Rs. 3.84 crores for construction of DAC, Annexe Building at Pentok, Mangan, North Sikkim. An amount of Rs. 50 lakhs was also sanctioned under TSP and SCSP to implement various programmes under Sports & Youth Affairs department.
The cabinet also accorded approval for distribution of ‘TetraVermin’ bed with other inputs to 1519 ST beneficiaries under TSP at the cost of Rs. 110 lakhs under Horticulture department besides sanctioning Rs.60 lakhs under TSP and Rs. 28 lakhs under SCSP under IPR department.
An additional amount of Rs. 22.56 lakhs were also sanctioned for carpeting work along the approach road to Simik village, Km 1st & 2nd, in East Sikkim.
The cabinet also sanctioned Rs. 1111.76 lakhs to be transferred as second and final installment as grant in-aid for the year 2009-10 for Zilla and Gram panchayats and also approved construction of Panchayat Ghar at Luing.
The cabinet authorized Chokerling development and management committee Rabong, South Sikkim to implement the development of the pilgrimage and cultural center at the tentative project cost of Rs. 3296 lakhs and also sanctioned Rs. 900 lakhs for release on installments by the department. It also approved the proposal for acquisition of 0.3540 hectares of land at Kartok block and 0.7040 hectares of land at Dikling block under Pakyong sub division for construction of Greenfield airport.
The cabinet further approved the proposal for implementation of externally aided project- Vocational Training improvement project with the World Bank Assistance, upgradation of Government ITI at Rangpo at the total project cost of Rs. 215 lakhs.
It also sanctioned a sum of Rs.79.45 lakhs as an advance mobilization fund for construction of ‘Walk Through Aviary’ of Sidkeong Tulku Bird Park at Rabdentse and also sanctioned Rs. 293.25 lakhs for integrated forest protection scheme.
A sum of Rs. 10 crores have been sanctioned for implementation of different work components for 4th phase of Green Mission.
The cabinet decided to maintain status quo in respect of free supply of electricity up to 50 units to certain consumers in rural areas for domestic uses besides sanctioning Rs.45.35 lakhs for upgrading and re-modeling of existing distribution system of MG Marg, Gangtok, the release informs.
The cabinet decided to revive Sikkim Housing Development Board and sanctioned Rs. 36.87 lakhs towards consultancy fee. Sanction was also accorded for Rs.36.83 lakhs and Rs. 22.12 lakhs for procurement of pothole repairing machine and for construction of Green House at Damthang, South Sikkim respectively.
A sum of Rs. 1237.77 lakhs for beautification/upgradation and modernization of Tadong Bazar, Makha Bazar, Yangyang Bazar, Namthang Bazar, Kaluk and Rinchenpong Bazar was also sanctioned. The cabinet also sanctioned the revised proposal for upgradation and modernization of feeder of Selep Water treatment plant for Gangtok at the cost of Rs. 4.80 crores.
A sum of Rs. 220.75 crores for taking up 95 numbers of road works like carpeting and widening in 28 Assembly constituencies was also sanctioned by the cabinet. It also sanctioned Rs. 1.60 crores for construction of bridge at Ghanti Khola along Legship, Geyzing, Tashiding road in West Sikkim.
The cabinet also sanctioned Rs.1.60 crores for procurement of 2538 fire extinguishers for government schools and colleges. It also sanctioned Rs.35.16 crores for upgradation and related developmental work of Government Degree College at Tadong and Rs. 22.04 crores for construction of a polytechnic institute at Mangshila, North Sikkim.
The cabinet also sanctioned the revised estimate of Rs. 650.89 lakhs for construction of High Court building-phase II at Gangtok besides allocating Rs.3.52 crores for procurement of 7000 thousand DBC-LPG connections for distribution to 7000 beneficiaries. The proposal for creation of 2 posts of peons in the pay scale of Rs.5200-20200 was also approved by the cabinet. A sum of Rs. 328.46 lakhs for construction of Multi Purpose Cultural Complex at Gangtok was also sanctioned by the cabinet.
source: Sikkim express
GANGTOK, January 14: The State cabinet which met yesterday at Tashiling Secretariat has sanctioned a sum of Rs. 1 crore for construction of ‘Soochna Bhavan’ at Sikkim Jewels Complex, Tadong against the total project cost of Rs. 4.27 crores.
The above sanctioned amount has been transferred to Building & Housing department, informs an IPR release.
The cabinet gave approval for development of 575 bedded multi-specialty hospital and to establish the Radiotherapy facilities at Sichey with other facilities like residential accommodation for doctors, beside sanction of Rs. 2.82 crores for first phase of work for construction of X-Ray block in PHEs. The Sikkim Health and Population policy was also approved.
The cabinet has sanctioned Rs. 20 lakhs to be released in first installment for providing river training work along the right/left bank of Rani Khola below Adampool, East Sikkim against the project cost of Rs. 205.78 lakhs.
The release informs that the cabinet sanctioned Rs. 29.36 lakhs and Rs. 68.63 lakhs for providing Post Matric and Pre-Matric scholarships to 1714 ST students & 79010 ST students respectively. It also sanctioned Rs. 3.84 crores for construction of DAC, Annexe Building at Pentok, Mangan, North Sikkim. An amount of Rs. 50 lakhs was also sanctioned under TSP and SCSP to implement various programmes under Sports & Youth Affairs department.
The cabinet also accorded approval for distribution of ‘TetraVermin’ bed with other inputs to 1519 ST beneficiaries under TSP at the cost of Rs. 110 lakhs under Horticulture department besides sanctioning Rs.60 lakhs under TSP and Rs. 28 lakhs under SCSP under IPR department.
An additional amount of Rs. 22.56 lakhs were also sanctioned for carpeting work along the approach road to Simik village, Km 1st & 2nd, in East Sikkim.
The cabinet also sanctioned Rs. 1111.76 lakhs to be transferred as second and final installment as grant in-aid for the year 2009-10 for Zilla and Gram panchayats and also approved construction of Panchayat Ghar at Luing.
The cabinet authorized Chokerling development and management committee Rabong, South Sikkim to implement the development of the pilgrimage and cultural center at the tentative project cost of Rs. 3296 lakhs and also sanctioned Rs. 900 lakhs for release on installments by the department. It also approved the proposal for acquisition of 0.3540 hectares of land at Kartok block and 0.7040 hectares of land at Dikling block under Pakyong sub division for construction of Greenfield airport.
The cabinet further approved the proposal for implementation of externally aided project- Vocational Training improvement project with the World Bank Assistance, upgradation of Government ITI at Rangpo at the total project cost of Rs. 215 lakhs.
It also sanctioned a sum of Rs.79.45 lakhs as an advance mobilization fund for construction of ‘Walk Through Aviary’ of Sidkeong Tulku Bird Park at Rabdentse and also sanctioned Rs. 293.25 lakhs for integrated forest protection scheme.
A sum of Rs. 10 crores have been sanctioned for implementation of different work components for 4th phase of Green Mission.
The cabinet decided to maintain status quo in respect of free supply of electricity up to 50 units to certain consumers in rural areas for domestic uses besides sanctioning Rs.45.35 lakhs for upgrading and re-modeling of existing distribution system of MG Marg, Gangtok, the release informs.
The cabinet decided to revive Sikkim Housing Development Board and sanctioned Rs. 36.87 lakhs towards consultancy fee. Sanction was also accorded for Rs.36.83 lakhs and Rs. 22.12 lakhs for procurement of pothole repairing machine and for construction of Green House at Damthang, South Sikkim respectively.
A sum of Rs. 1237.77 lakhs for beautification/upgradation and modernization of Tadong Bazar, Makha Bazar, Yangyang Bazar, Namthang Bazar, Kaluk and Rinchenpong Bazar was also sanctioned. The cabinet also sanctioned the revised proposal for upgradation and modernization of feeder of Selep Water treatment plant for Gangtok at the cost of Rs. 4.80 crores.
A sum of Rs. 220.75 crores for taking up 95 numbers of road works like carpeting and widening in 28 Assembly constituencies was also sanctioned by the cabinet. It also sanctioned Rs. 1.60 crores for construction of bridge at Ghanti Khola along Legship, Geyzing, Tashiding road in West Sikkim.
The cabinet also sanctioned Rs.1.60 crores for procurement of 2538 fire extinguishers for government schools and colleges. It also sanctioned Rs.35.16 crores for upgradation and related developmental work of Government Degree College at Tadong and Rs. 22.04 crores for construction of a polytechnic institute at Mangshila, North Sikkim.
The cabinet also sanctioned the revised estimate of Rs. 650.89 lakhs for construction of High Court building-phase II at Gangtok besides allocating Rs.3.52 crores for procurement of 7000 thousand DBC-LPG connections for distribution to 7000 beneficiaries. The proposal for creation of 2 posts of peons in the pay scale of Rs.5200-20200 was also approved by the cabinet. A sum of Rs. 328.46 lakhs for construction of Multi Purpose Cultural Complex at Gangtok was also sanctioned by the cabinet.
source: Sikkim express
SILIGURI: Steady rise for small tea sector
BY AVIJIT SINHA
Siliguri, Jan. 14: The small tea sector has grown steadily in north Bengal in a decade, producing 70 million kg of tea a year — more than one-third of the total production of the region. Tea Board of India sources said the entire north Bengal contributes around 200 million kg of brew annually.
The four districts of the region now employ around 70,000 people in the small plantations that have seen a four-fold rise in the past 10 years, a recent survey has revealed.
Another 1 lakh workforce is dependent indirectly on the sector with its 20,000 plantations. The growth of the sector came to light in the survey conducted by the state land and land reforms department on the status of small tea growers till December 31, 2009.
The 20,000 plantations are spread over 63,498.90 acres. The figure, small tea growers say, was 5,675 plantations spread over 35,000 acres in 1998, when the sector was just emerging.
“Considering the figures at the recent survey report, we feel that around 30 per cent of the growers or plantations have not been recorded. Both the number of plantations as well as the area will go up if these growers are included,” said Bijoygopal Chakraborty, the vice-president of the United Forum of Small Tea Growers’ Association.
Gardens with areas ranging from 10.12-40 acres are usually called small plantations. But there are small planters who own 100 acres. They are classified as small growers since they do not have factories of their own to process the tea.
“There are about 70,000 workers employed in the small tea sector. If we add the growers themselves, the workers in the bought-leaf factories where our tea is processed, the transporters and their employees who carry the leaves to the BLFs, it will be another 1 lakh people. All this has been possible because of tea has a steady market these days,” Chakraborty said.
The figures reveal that the Chopra block in North Dinajpur has the highest concentration of small plantations — 7,223 — spread over 20,179 acres (see chart). The lowest number of plantations is in Nagrakata block of Jalpaiguri district, which has only two gardens spread over an area of 336 acres.
Small growers have attributed the growth to a steady mechanism of merchandising tea, which is cash crop. “Hundreds of paddy cultivators have shifted to tea, the sole reason being the prices and the market. The rise in domestic consumption as well as exports have further added to change,” Chakraborty said.
“We feel that it is time now for the government to draft a master plan for a comprehensive development of this labour-intensive sector and extended facilities for our members and workers. The Centre should also come forward.”
Nitai Majumdar, who represents the North Bengal Small Tea Planters’ Association, said the growth was like that of the pineapple sector but with a difference.
“Similar growth was witnessed in the pineapple sector but the cultivators could not sustain themselves because of the absence of a market mechanism and adequate processing units. Tea is obviously in a better place,” he said. “An initiative from the state government is necessary to regulate the sector and simultaneously help in its development to avoid any impasse in the future.”
BY AVIJIT SINHA
Siliguri, Jan. 14: The small tea sector has grown steadily in north Bengal in a decade, producing 70 million kg of tea a year — more than one-third of the total production of the region. Tea Board of India sources said the entire north Bengal contributes around 200 million kg of brew annually.
The four districts of the region now employ around 70,000 people in the small plantations that have seen a four-fold rise in the past 10 years, a recent survey has revealed.
Another 1 lakh workforce is dependent indirectly on the sector with its 20,000 plantations. The growth of the sector came to light in the survey conducted by the state land and land reforms department on the status of small tea growers till December 31, 2009.
The 20,000 plantations are spread over 63,498.90 acres. The figure, small tea growers say, was 5,675 plantations spread over 35,000 acres in 1998, when the sector was just emerging.
“Considering the figures at the recent survey report, we feel that around 30 per cent of the growers or plantations have not been recorded. Both the number of plantations as well as the area will go up if these growers are included,” said Bijoygopal Chakraborty, the vice-president of the United Forum of Small Tea Growers’ Association.
Gardens with areas ranging from 10.12-40 acres are usually called small plantations. But there are small planters who own 100 acres. They are classified as small growers since they do not have factories of their own to process the tea.
“There are about 70,000 workers employed in the small tea sector. If we add the growers themselves, the workers in the bought-leaf factories where our tea is processed, the transporters and their employees who carry the leaves to the BLFs, it will be another 1 lakh people. All this has been possible because of tea has a steady market these days,” Chakraborty said.
The figures reveal that the Chopra block in North Dinajpur has the highest concentration of small plantations — 7,223 — spread over 20,179 acres (see chart). The lowest number of plantations is in Nagrakata block of Jalpaiguri district, which has only two gardens spread over an area of 336 acres.
Small growers have attributed the growth to a steady mechanism of merchandising tea, which is cash crop. “Hundreds of paddy cultivators have shifted to tea, the sole reason being the prices and the market. The rise in domestic consumption as well as exports have further added to change,” Chakraborty said.
“We feel that it is time now for the government to draft a master plan for a comprehensive development of this labour-intensive sector and extended facilities for our members and workers. The Centre should also come forward.”
Nitai Majumdar, who represents the North Bengal Small Tea Planters’ Association, said the growth was like that of the pineapple sector but with a difference.
“Similar growth was witnessed in the pineapple sector but the cultivators could not sustain themselves because of the absence of a market mechanism and adequate processing units. Tea is obviously in a better place,” he said. “An initiative from the state government is necessary to regulate the sector and simultaneously help in its development to avoid any impasse in the future.”
India:PM releases the book ‘Perspectives on Central Banking – Governors Speak’
15 Jan 2010 15:47 IST
The Prime Minister, Dr. Manmohan Singh, released a book titled ‘Perspectives on Central Banking – Governors Speak’ in New Delhi today. Following is the text of the Prime Minister’s address on the occasion:
“I am very happy to release this compilation which marks the platinum jubilee celebrations of a great institution - the Reserve Bank of India . These 75 years have been a journey of momentous developments. But the basic objectives of economic policy have remained roughly the same, growth with stability and social justice. And in all these areas, the Reserve Bank has played a very important role and the fact that this country has come a long way from the low rates of growth until the 70s, moving up to the 80s and then from the 90s a march on the forward route to sustained and equitable development, the Reserve Bank has played a very important role in making all this happen.
I recall the role of the Reserve Bank in building institutions. The Reserve Bank played a very important role in drawing the attention of our country to make our credit system more sensitive to the needs of our farmers and our rural community. It played a very important role in the establishment of agricultural finance corporations, subsequently it gave birth to NABARD. In the same way, when the IDBI had to be set up, it was once again the Reserve Bank which took the lead in the establishment of the IDBI, in the same way, in the establishment of the National Housing Bank. The Reserve Bank was instrumental in setting up a whole lot of institutions and the diversified financial system, the more inclusive financial system that we now have owes a great deal to the innovative ideas emanating from this great national institution that the Reserve Bank is.
The Reserve Bank has been very fortunate to have been led by men of dedication, men of deep and abiding commitment to the national ideals and goals of our country and on this 75th Anniversary of the Reserve Bank, I can only pray that that great tradition will continue to survive, that the Reserve Bank will continue to play a historic role in the evolution of Indian economy as India moves forward towards a growth path of 9-10% per annum, a growth path which commits the country to a path of reasonable price stability, a growth path which reasonably commits our country to our ancient inclusion that the credit and the financial system will function more and more paying attention to the needs of the poorer section of our community. That’s my prayer and judging by what the Bank has achieved in these 75 years, I have every reason to believe that the next 75 years will be still more productive, still more innovative in the long history of our country.”
15 Jan 2010 15:47 IST
The Prime Minister, Dr. Manmohan Singh, released a book titled ‘Perspectives on Central Banking – Governors Speak’ in New Delhi today. Following is the text of the Prime Minister’s address on the occasion:
“I am very happy to release this compilation which marks the platinum jubilee celebrations of a great institution - the Reserve Bank of India . These 75 years have been a journey of momentous developments. But the basic objectives of economic policy have remained roughly the same, growth with stability and social justice. And in all these areas, the Reserve Bank has played a very important role and the fact that this country has come a long way from the low rates of growth until the 70s, moving up to the 80s and then from the 90s a march on the forward route to sustained and equitable development, the Reserve Bank has played a very important role in making all this happen.
I recall the role of the Reserve Bank in building institutions. The Reserve Bank played a very important role in drawing the attention of our country to make our credit system more sensitive to the needs of our farmers and our rural community. It played a very important role in the establishment of agricultural finance corporations, subsequently it gave birth to NABARD. In the same way, when the IDBI had to be set up, it was once again the Reserve Bank which took the lead in the establishment of the IDBI, in the same way, in the establishment of the National Housing Bank. The Reserve Bank was instrumental in setting up a whole lot of institutions and the diversified financial system, the more inclusive financial system that we now have owes a great deal to the innovative ideas emanating from this great national institution that the Reserve Bank is.
The Reserve Bank has been very fortunate to have been led by men of dedication, men of deep and abiding commitment to the national ideals and goals of our country and on this 75th Anniversary of the Reserve Bank, I can only pray that that great tradition will continue to survive, that the Reserve Bank will continue to play a historic role in the evolution of Indian economy as India moves forward towards a growth path of 9-10% per annum, a growth path which commits the country to a path of reasonable price stability, a growth path which reasonably commits our country to our ancient inclusion that the credit and the financial system will function more and more paying attention to the needs of the poorer section of our community. That’s my prayer and judging by what the Bank has achieved in these 75 years, I have every reason to believe that the next 75 years will be still more productive, still more innovative in the long history of our country.”
India:New Route for Investing in Funds
For the last month or so, investors have had a completely new way of being able to invest in funds. Buying and selling of funds can now be done through stock brokers using the BSE and the NSE's trading system. It's important to understand that contrary to what some reports have said, this is not a way of 'trading' funds. The buying and selling does not happen between investors, which is what trading is. Instead, this is simply an alternative way of routing the same transaction that you would conventionally have done by filling up a form and handing it, along with a cheque, to a mutual fund distributor or at fund companies' office. The money is routed to the fund company and you are allotted fund units. The reverse happens when you redeem your units through a stock broker.
The new system is an additional, alternative way of investing in funds-the old system is very much in place and will remain so. The stock exchange route offers a different set of advantages and disadvantages for investors and investor need to figure out whether these make sense in their individual cases. Under this system, investors need to have an account with a stock depository, just as they would for stock-trading. At the time of opening a depositary account, their identity would be verified under the Know Your Customer (KYC) system. The advantage to investors would be that they would have a single point for dealing with all their stock and fund investments and would get a single statement of their holdings. For those investors who deal through an online brokerage, it would offer a very high degree of convenience.
Another class of investors for whom this system would make sense would be those who are living in smaller centers where mutual funds do not have offices or representatives. The stock exchange network is much wider than the fund network and incorporates not just an order-routing mechanism but also a funds-routing one.
However, investors need to be aware of what the new system is not. It is, by and large, not a good way for investors to be receiving fund investment advice. The culture of stock investing in India is one that is likely to be lethal to sensible mutual fund investing. The world of a stockbroker is one in which most clients hold investments for a few days and 'long-term' is perhaps a month or two.
Here's an example of what I mean. Even before the new system was up and running a friend of mine got a call from his broker's office. The salesman enthusiastically described the methodology that they will follow for giving mutual fund investments. They would analyse mutual funds' declared portfolios to see which stocks are likely to go up and then they will ask clients to take 'tactical positions' (the broker's words) in the funds where they like the portfolio. This is a completely counter-productive way of investing in funds but one which, I guess, would come naturally to someone whose primary skill is supposed to be stock selection. Effectively, this broker has figured out that basically, funds are a new type of trading instrument where he'll get about 0.5 per cent from the AMC rather than the pittance he gets as brokerage currently.
Taking mutual fund advice from a stock broker is a little bit like ordering milk in a bar. You may want the healthy option, but when the establishment is used to serving only the heady and intoxicating stuff, then that's what they'll try and serve to you. Brokers are a convenience for those who don't have access to mutual fund advisors, but they are unlikely to be suitable advisors.
This new system was not a fund industry or a stock exchange initiative. It was pushed by the market regulator SEBI, apparently with two motives. The first was to create a way of investing in mutual funds that should have lower costs than the traditional system. The second was to increase the geographical spread of fund availability. Apparently, one of the triggers for this action was the inability or the unwillingness of the mutual fund industry to create a joint electronic platform for fund transactions. Such a platform has been talked about for a long time but nothing concrete seems to have happened.
For investors, the bottom-line is that the new route for investing is little more than an proicedural convenience. The core of fund investing is about choosing a good fund and investing in it long-term in a steady fashion. It actually matters very little whether your investment was done by punching keys on a computer terminal or whether it was done by filling in a paper form with a pen.
by Dhirendra Kumar
For the last month or so, investors have had a completely new way of being able to invest in funds. Buying and selling of funds can now be done through stock brokers using the BSE and the NSE's trading system. It's important to understand that contrary to what some reports have said, this is not a way of 'trading' funds. The buying and selling does not happen between investors, which is what trading is. Instead, this is simply an alternative way of routing the same transaction that you would conventionally have done by filling up a form and handing it, along with a cheque, to a mutual fund distributor or at fund companies' office. The money is routed to the fund company and you are allotted fund units. The reverse happens when you redeem your units through a stock broker.
The new system is an additional, alternative way of investing in funds-the old system is very much in place and will remain so. The stock exchange route offers a different set of advantages and disadvantages for investors and investor need to figure out whether these make sense in their individual cases. Under this system, investors need to have an account with a stock depository, just as they would for stock-trading. At the time of opening a depositary account, their identity would be verified under the Know Your Customer (KYC) system. The advantage to investors would be that they would have a single point for dealing with all their stock and fund investments and would get a single statement of their holdings. For those investors who deal through an online brokerage, it would offer a very high degree of convenience.
Another class of investors for whom this system would make sense would be those who are living in smaller centers where mutual funds do not have offices or representatives. The stock exchange network is much wider than the fund network and incorporates not just an order-routing mechanism but also a funds-routing one.
However, investors need to be aware of what the new system is not. It is, by and large, not a good way for investors to be receiving fund investment advice. The culture of stock investing in India is one that is likely to be lethal to sensible mutual fund investing. The world of a stockbroker is one in which most clients hold investments for a few days and 'long-term' is perhaps a month or two.
Here's an example of what I mean. Even before the new system was up and running a friend of mine got a call from his broker's office. The salesman enthusiastically described the methodology that they will follow for giving mutual fund investments. They would analyse mutual funds' declared portfolios to see which stocks are likely to go up and then they will ask clients to take 'tactical positions' (the broker's words) in the funds where they like the portfolio. This is a completely counter-productive way of investing in funds but one which, I guess, would come naturally to someone whose primary skill is supposed to be stock selection. Effectively, this broker has figured out that basically, funds are a new type of trading instrument where he'll get about 0.5 per cent from the AMC rather than the pittance he gets as brokerage currently.
Taking mutual fund advice from a stock broker is a little bit like ordering milk in a bar. You may want the healthy option, but when the establishment is used to serving only the heady and intoxicating stuff, then that's what they'll try and serve to you. Brokers are a convenience for those who don't have access to mutual fund advisors, but they are unlikely to be suitable advisors.
This new system was not a fund industry or a stock exchange initiative. It was pushed by the market regulator SEBI, apparently with two motives. The first was to create a way of investing in mutual funds that should have lower costs than the traditional system. The second was to increase the geographical spread of fund availability. Apparently, one of the triggers for this action was the inability or the unwillingness of the mutual fund industry to create a joint electronic platform for fund transactions. Such a platform has been talked about for a long time but nothing concrete seems to have happened.
For investors, the bottom-line is that the new route for investing is little more than an proicedural convenience. The core of fund investing is about choosing a good fund and investing in it long-term in a steady fashion. It actually matters very little whether your investment was done by punching keys on a computer terminal or whether it was done by filling in a paper form with a pen.
by Dhirendra Kumar
India Migration Report 2009
There are 25 million Indians (non-resident Indians and persons of Indian origin) living overseas.
In terms of sheer numbers, that translates into a diaspora that's larger than the population of Australia. In recognition of the significance of this population, the Indian government has marked 7-9 January as Pravasi Bharatiya Divas, a yearly event dedicated to the diaspora that comes a few weeks after International Migrants Day, which falls on 18 December.
Against this backdrop, Jawaharlal Nehru University's International Migration and Diaspora Studies Project has released `The India Migration Report 2009: Past, Present and the Future Outlook', the first of its kind.
The country has a history of migration that dates back to the advent of sea trade that propelled Indians to emigrate to Africa and South-East Asia. With the expansion of British control, Indians were sent to the plantation colonies of the Caribbean, the Indian Ocean islands, South and South-East Asia, Africa and the Pacific.
Over the last two decades, Indian migration patterns are beginning to shift. The new Indian emigrant seeks different destinations and professions, sends more money back home and is also more likely to return. The new emigrant's destination From among member states of the Organisation for Economic Cooperation and Development (OECD), the US is the biggest magnet for the new Indian emigrant. The UK, Australia and Canada are significant destinations as well.
However, the oil-rich West Asia remains the No. 1 destination for Indian emigrants.
East Asian countries such as Japan are new hubs for Indian emigrants, largely due to demographic factors. Japan has a low birth rate and an ageing population, which is leading to a shortage of young workers. In 2007, close to 6,000 Indians entered Japan.
While throughout Europe, the number of Indian migrants has risen, the levels of increase vary across the continent. The profile of the new emigrant Indians in North America are now predominantly highly skilled. Almost 80% of highly skilled Indian emigrants choose the US.
Canada is also a significant destination for the highly skilled; Indian migrants there are primarily engaged in sales and service.
In recent years, the demand for foreign health professionals has escalated in high income countries with the focus shifting from the West Asia primarily to the UK, the US, Canada and Australia.
Indian emigrants to the Gulf are now more likely to engage in high-skill jobs than ever before.
White-collar workers now comprise 30% of the total Indian workers in the region. Salary and remittances Data shows that highly skilled Indian migrants earn better than their peers. In the US, Indian male migrants' wages are the highest among all Asians.
The Indian disapora sends more money home than any other migrant group in the world.
According to the World Bank, over the last 35 years, remittances have grown steadily from $121 million (Rs550.55 crore today) in 1970 to $52 billion in 2008, more than the $49 billion sent home by Chinese living overseas. A transitory existence The information technology boom in the 1990s fuelled a wave of young, first generation Indian emigrants, the majority of whom headed to the US on a temporary basis.
Of late, the number of temporary worker entrants has grown due to policies such as the German green card, the British work permit and the US H-1B visa.
Government policies in many countries favour a continuous cycle of transitory migration that keeps the age-profile of their workers young. The new emigrant in a time of economic crisis Despite the fact that international migration has increased over the last few years, the economic downturn has inspired many countries to close their borders. In the short-term, migration is likely to decrease.
Visas to temporary migrant workers have been suspended in South Korea Malaysia has stopped work permits to foreign workers in manufacturing and services Thailand will neither issue nor renew work permits of about half-a-million foreigners Kazakhstan has imposed a moratorium on the admission of low-skilled workers Italy, Kazakhstan and the Russian Federation have cut down on migrant visa quotas The UK is increasing academic and financial requirements for highly skilled migrants The US has announced that tax incentives to companies that outsource jobs will be stopped.
Source: India Migration Report 2009
In terms of sheer numbers, that translates into a diaspora that's larger than the population of Australia. In recognition of the significance of this population, the Indian government has marked 7-9 January as Pravasi Bharatiya Divas, a yearly event dedicated to the diaspora that comes a few weeks after International Migrants Day, which falls on 18 December.
Against this backdrop, Jawaharlal Nehru University's International Migration and Diaspora Studies Project has released `The India Migration Report 2009: Past, Present and the Future Outlook', the first of its kind.
The country has a history of migration that dates back to the advent of sea trade that propelled Indians to emigrate to Africa and South-East Asia. With the expansion of British control, Indians were sent to the plantation colonies of the Caribbean, the Indian Ocean islands, South and South-East Asia, Africa and the Pacific.
Over the last two decades, Indian migration patterns are beginning to shift. The new Indian emigrant seeks different destinations and professions, sends more money back home and is also more likely to return. The new emigrant's destination From among member states of the Organisation for Economic Cooperation and Development (OECD), the US is the biggest magnet for the new Indian emigrant. The UK, Australia and Canada are significant destinations as well.
However, the oil-rich West Asia remains the No. 1 destination for Indian emigrants.
East Asian countries such as Japan are new hubs for Indian emigrants, largely due to demographic factors. Japan has a low birth rate and an ageing population, which is leading to a shortage of young workers. In 2007, close to 6,000 Indians entered Japan.
While throughout Europe, the number of Indian migrants has risen, the levels of increase vary across the continent. The profile of the new emigrant Indians in North America are now predominantly highly skilled. Almost 80% of highly skilled Indian emigrants choose the US.
Canada is also a significant destination for the highly skilled; Indian migrants there are primarily engaged in sales and service.
In recent years, the demand for foreign health professionals has escalated in high income countries with the focus shifting from the West Asia primarily to the UK, the US, Canada and Australia.
Indian emigrants to the Gulf are now more likely to engage in high-skill jobs than ever before.
White-collar workers now comprise 30% of the total Indian workers in the region. Salary and remittances Data shows that highly skilled Indian migrants earn better than their peers. In the US, Indian male migrants' wages are the highest among all Asians.
The Indian disapora sends more money home than any other migrant group in the world.
According to the World Bank, over the last 35 years, remittances have grown steadily from $121 million (Rs550.55 crore today) in 1970 to $52 billion in 2008, more than the $49 billion sent home by Chinese living overseas. A transitory existence The information technology boom in the 1990s fuelled a wave of young, first generation Indian emigrants, the majority of whom headed to the US on a temporary basis.
Of late, the number of temporary worker entrants has grown due to policies such as the German green card, the British work permit and the US H-1B visa.
Government policies in many countries favour a continuous cycle of transitory migration that keeps the age-profile of their workers young. The new emigrant in a time of economic crisis Despite the fact that international migration has increased over the last few years, the economic downturn has inspired many countries to close their borders. In the short-term, migration is likely to decrease.
Visas to temporary migrant workers have been suspended in South Korea Malaysia has stopped work permits to foreign workers in manufacturing and services Thailand will neither issue nor renew work permits of about half-a-million foreigners Kazakhstan has imposed a moratorium on the admission of low-skilled workers Italy, Kazakhstan and the Russian Federation have cut down on migrant visa quotas The UK is increasing academic and financial requirements for highly skilled migrants The US has announced that tax incentives to companies that outsource jobs will be stopped.
Source: India Migration Report 2009
THANK YOU LORD
WHAT HAPPENS IN HEAVEN
I dreamt that I went to Heaven and an angel was showing me around. We walked side-by-side inside a large workroom filled with angels.
My angel guide stopped in front of the first section and said, 'This Is the Receiving Section. Here, all petitions to GOD said in prayer are Received..'
I looked around in this area, and it was terribly busy with so many angels sorting out petitions written on voluminous paper sheets and scraps from people all over the world..
Then we moved on down a long corridor until we reached the second section.
The angel then said to me, 'This is the Packaging and Delivery Section. Here, the graces and blessings the people asked for are processed and delivered to the living persons who asked for them.'
I noticed again how busy it was there. There were many angels working hard at that station, since so many blessings had been requested and were being packaged for delivery to Earth
Finally at the farthest end of the long corridor we stopped at the Door of a very small station To my great surprise, only one angel was Seated there, idly doing nothing. 'This is the Acknowledgment Section,' My angel friend quietly admitted to me. He seemed embarrassed 'How Is it that there is no work going on here?' I asked.
'So sad,' the angel sighed. 'After people receive the blessings that they asked For, very few send back acknowledgments .'
'How does one acknowledge GOD's blessings?' I asked.
'Simple,' the angel answered. Just say, 'Thank you, LORD.'
'What blessings should they acknowledge?' I asked.
'If you have food in the refrigerator, clothes on your back, a roof overhead and a place to sleep you are richer than 75% of this world. If you have money in the bank, in your wallet, and spare change in a dish, you are among the top 8% of the world's wealthy .'
'And if you get this on your own computer, you are part of the 1% in the world who has that opportunity.'
Also ......
' If you woke up this morning with more health than illness ... You are more blessed than the many who will not even survive this day .'
'If you have never experienced the fear in battle, the loneliness of imprisonment, the agony of torture, or the pangs of starvation .. You are ahead of 700 million people in the world.'
'If your parents are still alive and still married ...you are very rare .'
'If you can hold your head up and smile, you are not the norm, you're unique to all those in doubt and despair.'
Ok, what now? How can I start?
If you can read this message, you just received a double blessing in that someone was thinking of you as very special and you are more blessed than over two billion people in the world who cannot read at all.
Have a good day, count your blessings, and if you want, remind everyone else how blessed we all are.
Kind A TTN: Acknowledge Dept.:
'Thank you Lord.'
I dreamt that I went to Heaven and an angel was showing me around. We walked side-by-side inside a large workroom filled with angels.
My angel guide stopped in front of the first section and said, 'This Is the Receiving Section. Here, all petitions to GOD said in prayer are Received..'
I looked around in this area, and it was terribly busy with so many angels sorting out petitions written on voluminous paper sheets and scraps from people all over the world..
Then we moved on down a long corridor until we reached the second section.
The angel then said to me, 'This is the Packaging and Delivery Section. Here, the graces and blessings the people asked for are processed and delivered to the living persons who asked for them.'
I noticed again how busy it was there. There were many angels working hard at that station, since so many blessings had been requested and were being packaged for delivery to Earth
Finally at the farthest end of the long corridor we stopped at the Door of a very small station To my great surprise, only one angel was Seated there, idly doing nothing. 'This is the Acknowledgment Section,' My angel friend quietly admitted to me. He seemed embarrassed 'How Is it that there is no work going on here?' I asked.
'So sad,' the angel sighed. 'After people receive the blessings that they asked For, very few send back acknowledgments .'
'How does one acknowledge GOD's blessings?' I asked.
'Simple,' the angel answered. Just say, 'Thank you, LORD.'
'What blessings should they acknowledge?' I asked.
'If you have food in the refrigerator, clothes on your back, a roof overhead and a place to sleep you are richer than 75% of this world. If you have money in the bank, in your wallet, and spare change in a dish, you are among the top 8% of the world's wealthy .'
'And if you get this on your own computer, you are part of the 1% in the world who has that opportunity.'
Also ......
' If you woke up this morning with more health than illness ... You are more blessed than the many who will not even survive this day .'
'If you have never experienced the fear in battle, the loneliness of imprisonment, the agony of torture, or the pangs of starvation .. You are ahead of 700 million people in the world.'
'If your parents are still alive and still married ...you are very rare .'
'If you can hold your head up and smile, you are not the norm, you're unique to all those in doubt and despair.'
Ok, what now? How can I start?
If you can read this message, you just received a double blessing in that someone was thinking of you as very special and you are more blessed than over two billion people in the world who cannot read at all.
Have a good day, count your blessings, and if you want, remind everyone else how blessed we all are.
Kind A TTN: Acknowledge Dept.:
'Thank you Lord.'
50000 death in Haiti quake
Red Cross estimates 50,000 dead in Haiti quake
The Red Cross federation says it estimates there have been 45,000-50,000 deaths in the Haitian earthquake.
Spokesman Jean-Luc Martinage says the Haitian Red Cross came up with the estimate based on information from a wide network of volunteers across the quake-stricken capital of Port-au-Prince.
Martinage says it also is a number that government ministers have been using.
He said Thursday that the International Federation of Red Cross and Red Cross Societies has yet to determine the actual number of deaths.
The Red Cross federation says it estimates there have been 45,000-50,000 deaths in the Haitian earthquake.
Spokesman Jean-Luc Martinage says the Haitian Red Cross came up with the estimate based on information from a wide network of volunteers across the quake-stricken capital of Port-au-Prince.
Martinage says it also is a number that government ministers have been using.
He said Thursday that the International Federation of Red Cross and Red Cross Societies has yet to determine the actual number of deaths.
Per capita health expenditure by governments in half of states below national average of Rs 503. Sikkim spends Rs.1446 per capita
January 14, 2010 08:00 IST
Per capita health expenditure by the respective governments in half of the States is below the national average which itself is ranked very low in the international arena. As many as 16 States and Union Territories fared below par the national average of Rs 503, according to the latest official data available.
The States which spend lesser interestingly include some advanced States like Kerala and Maharashtra. Mizoram stood top among the States with an annual per capita expenditure of Rs 1611 while Bihar came last with just Rs 173 by the government, as per the statistics available for 2008. Sikkim (Rs 1446), Andaman (1347), Puducherry (Rs 1333), Lakshadweep (Rs 1315) and Goa (Rs 1149) fared better. The national capital of Delhi (Rs 840), Himachal Pradesh (Rs 884), Jammu and Kashmir (Rs 845), Chandigarh (Rs 798) and Nagaland (Rs 794) also did better.
However, Kerala which has better health indicators spent just Rs 454 on each person as the government share on healthcare. Likewise, bigger States like Karnataka (Rs 430), Andhra Pradesh (Rs 410), Tamil Nadu (Rs 410), Uttar Pradesh (Rs 293), Rajasthan (Rs 287), Maharashtra (Rs 278) and Gujarat (Rs 270) stood below the national average. West Bengal (Rs 262), Madhya Pradesh ( Rs 235) and Bihar (Rs 173) were at the bottom of the table.
Significantly, even the national average is much below the desired levels. According to the latest statistics available with World Health Organisation, India’s rank is too low, compared to most of the countries. The government spending on health in 2006 was just 8 dollars while America spent as many as 3074 dollars on each of its citizen. Countries like Canada ($ 2754) and UK ($1691) spent much higher. Even China, having bigger slice of population than India, spent US$ 38 per person. In 2000, the per capita expenditure on health by the government in India was just US$ 4 and while China spent US$ 17, as per the statistics.
Health Ministry sources said the government was trying to spend more on health areas through different interventions especially after the launch of National Rural Health Mission in 2005. “The Mission inter-alia seeks to provide accessible, affordable, accountable, effective and quality health care facilities, especially to the poor and vulnerable sections of the population,’’ sources said.
January 14, 2010 08:00 IST
Per capita health expenditure by the respective governments in half of the States is below the national average which itself is ranked very low in the international arena. As many as 16 States and Union Territories fared below par the national average of Rs 503, according to the latest official data available.
The States which spend lesser interestingly include some advanced States like Kerala and Maharashtra. Mizoram stood top among the States with an annual per capita expenditure of Rs 1611 while Bihar came last with just Rs 173 by the government, as per the statistics available for 2008. Sikkim (Rs 1446), Andaman (1347), Puducherry (Rs 1333), Lakshadweep (Rs 1315) and Goa (Rs 1149) fared better. The national capital of Delhi (Rs 840), Himachal Pradesh (Rs 884), Jammu and Kashmir (Rs 845), Chandigarh (Rs 798) and Nagaland (Rs 794) also did better.
However, Kerala which has better health indicators spent just Rs 454 on each person as the government share on healthcare. Likewise, bigger States like Karnataka (Rs 430), Andhra Pradesh (Rs 410), Tamil Nadu (Rs 410), Uttar Pradesh (Rs 293), Rajasthan (Rs 287), Maharashtra (Rs 278) and Gujarat (Rs 270) stood below the national average. West Bengal (Rs 262), Madhya Pradesh ( Rs 235) and Bihar (Rs 173) were at the bottom of the table.
Significantly, even the national average is much below the desired levels. According to the latest statistics available with World Health Organisation, India’s rank is too low, compared to most of the countries. The government spending on health in 2006 was just 8 dollars while America spent as many as 3074 dollars on each of its citizen. Countries like Canada ($ 2754) and UK ($1691) spent much higher. Even China, having bigger slice of population than India, spent US$ 38 per person. In 2000, the per capita expenditure on health by the government in India was just US$ 4 and while China spent US$ 17, as per the statistics.
Health Ministry sources said the government was trying to spend more on health areas through different interventions especially after the launch of National Rural Health Mission in 2005. “The Mission inter-alia seeks to provide accessible, affordable, accountable, effective and quality health care facilities, especially to the poor and vulnerable sections of the population,’’ sources said.
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