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Just look at the Government Budget 2019 and how is was understood to an authorWith the Lok Sabha Elections scheduled to take place in few months, Finance Minister Piyush Goyal presented interim budget on February 1, 2019. The FY19 fiscal deficit was pegged at 3.4% of the GDP with the current account deficit at 2.5% of the GDP. The FY20 fiscal deficit target set at 3.4%.
Last 5 years has witnessed a lot of reforms in the Indian Economy. India from being the 11th largest economy in the world in 2013-14, is today the 6th largest economy in the world. The average inflation rate has been reduced from double digit to the single digit. The Modi government came up with the biggest tax reforms in the Indian Economy with the implementation of the GST. India also attracted the massive amount of FDI during the last Years. The government also took anti-black money measures in the form of Black Money Law and Demonetisation to eliminate the ills of the black money from our country.
Talking about the vision for next decade, he also said that we are poised to become a Five Trillion Dollar Economy in the next five years and aspire to become a Ten Trillion Dollar Economy in the next 8 years thereafter.
Now, let's talk about the budget which is presented, ever for the first time in the history of the Indian Economy, by the Chartered Accountant:
The Minister came with a number of tax benefits for the real estate sector in the affordable housing category. The sector which has been facing a lot of slowdown may expect a boost with these measures.
The budget announced the relief to real estate developers by extending the benefits of Sec 80 IBA of the Income Tax Act for the one more year i.e. upto 2020. The major proposal came out to remove tax on notional rent on the second house if it is vacant.
The budget also proposed to extend the period of exemption from levy of Tax on notional rent, on unsold inventories, from one to two years.
Poor and Backward Class:
Keeping the existing reservation as it is, the government have ensured 10% reservation in the Educational Institutions and Government for the poors. The allocation to MNERGA stood at Rs. 60,000 crores.
The world's largest healthcare programme - "Ayushman Bharat" has been launched to provide medical treatment to nearly 50 crore people. This programming is helping lakhs of poor people in both rural and urban areas.
The government is launching a programme - "Pradhan Mantri Kisan Samman Niddhi (PM-KISAN)" which will provide direct income support at the rate of Rs. 6000 per year to the farmer families having cultivable land upto 2 hectares. This is going to have a significant positive impact on the small farmers and the rural economy.
Also, it provided 2% interest subvention to the farmers pursuing the activities of animal husbandry and fisheries and 3% additional interest subvention on timely repayment of loan.
Labour and Workers:
He came with a Mega Pension Yojana - "Pradhan Mantri Shram Yogi Mandhan" for the employees of the unorganised sector. Under PMSYM, monthly pension of Rs. 3000 is assured for the workers after the age of 60 years. This scheme, if implemented properly, is going to provide them with the reasonable standard of living.
Defence & National Security:
Implemented "One Rank One Pension" Scheme which was pending for the last 40 years and budget also proposed the highest ever allocation to Defence with RS. 3,00,000 crore.
India is now leading the world in consumption of mobile data. With the decrease in the prices of data, the consumption of data has increased at a very high rate.
The government proposed to make 1 lakh villages into Digital Villages over next five years which in definitely important form the point of view of the Digital India.
The budget proposed a few key changes to provide relief to taxpayers. The most important proposal is to provide full tax rebate to the individuals with income upto Rs. 5,00,000. This is going to benefit middle class taxpayers.
Another important proposal came for salaried taxpayers with standard deduction being hiked to Rs. 50,000. The budget also proposed to increase the limit of TDS on Fixed deposits from that Rs. 10,000 to Rs. 40,000.
The budget 2019 has come up very well. It addressed the needs of farmers and poors ensuring the improvement in the Indian economy. It recommended major changes in the Income Tax benefitting medium class taxpayers and real estate developers. The budget also came with various pension schemes for different group of people.https://www.linkedin.com/pulse/budget-2019-sonal-nainwani?
This story explains why Rs 6000 a year pension to farmer creates more problems than it solvesYears ago, a school called Bharat in a mid-sized town faced a tough situation. Many students were unable to clear the 35 % passing grade. The situation was tough. Frustrated students were under pressure from their families and the broader society - several committed suicide.
The administration of Bharat - alarmed by the situation - did a deep-dive to understand the root causes of the challenge. Here were the facts -
1. Diversity - Bharat had a diverse student body. A few students hailed from economically rich families, majority were from the poor strata.
a. The suicides and academic challenges were largely limited to poorer students - who found it difficult to clear the 35% threshold.
2. Study patterns - The rich students had access to amenities like advanced library books and took extra classes. Unburdened by chores of life, the rich students had a lot of free time to study and prepare better - leading to better results and higher pass percentages.
a. According to officials, the poorer students weren't any less intelligent - they simply couldn't dedicate enough time to studies as they were burdened by household chores. Financial challenges eliminated their access to extra classes or advanced books in libraries leading to poor academic scores.
3. External factors - Examinations were set up global boards that were outside Bharat administration's direct control. As such, the assessments varied in toughness from year to year - some years were more intense than others leading to a further drop in pass percentages.
a. The only way this could be addressed was if Bharat's administration could follow its own curriculum and assessments. That needed scale and quality - Bharat didn't have that scale at global level.
Bharat's administration realized it couldn't do much about external factors. To handle the challenges under its direct control, Bharat's offcials came up with a solution. They reduced the pass percentage from 35 to 30.
A year later, the situation hadn't improved much - complex external situation led to exams being way tougher than the prior year. Students were still frustrated and concerned parents kept calling. The authorities brought the pass percentage down further - this time, they made it 25.
The upshot? The graduation rate improved a bit, but now new challenges emerged from unexpected sources. Rich students perceived the pass percentage as low - they reduced their academic efforts and stopped using resources like library and extra classes. In fact, several of them took the system lightly and abused the resources. Parents of these kids were concerned. Meanwhile, studies showed that the overall quality of academics had nosedived. Worse, the low pass percentage hardly benefitted the poor, the real beneficiaries unwittingly were the rich kids, who neither need the benefits nor asked for it.
Alarmed authorities realized the challenge of a "one-size-fits-all" approach. With academic elections fast approaching and worried they might be voted out of power, authorities of Bharat designed a "needs-based" system - the pass percentage was resurrected to 35. However, poor students (defined on the basis of annual parental income) were given 5 grace marks (effectively bringing their pass percent to 30 vs 35 for rich kids). They also announced a targeted Rs 6000 per year incentive to these students to access libraries and take extra classes. Authorities were thrilled - they felt that this targeted handout would level the playing field.
Their hopes were dashed soon. While a few were excited, majority of the poor students felt 5 grace marks was lower than what they expected - they felt this small a number didn't justify the tough academics. Several poor students were frustrated at being treated like beggars. Meanwhile, unexpected problems arose. Rich students cried discrimination. A few rich kids resorted to manipulating their incomes to show themselves as poor - leading to distorted handouts.
While these efforts provided a quick relief balm, the root cause wasn't addressed at all. The real challenge of poor kids was the lack of access to resources like additional classes with top teachers and advanced books in libraries - this was the real reason they couldn't perform as well as rich kids. They argued Rs 6000 a year handout wasn't enough to pay for these resources. Bharat's authorities agreed addressing the root cause should be the long term vision but argued they had no time or money for such long term solutions especially in an election year. They suggested that instant remedies were required to reduce student/parent frustration - something they hoped these handouts would achieve. They further argued that this "targeted" handout was the trailer - they promised a great movie if they were voted to power.
A year later, everything remained the same except for four far- reaching changes -
1. Years of handouts had compromised the quality of graduating students - and thereby the academic system. Outgoing students found it difficult to get jobs - the very reason why the academic system existed.
a. The very foundation of the academic system fostered a culture of mediocrity.
2. The handouts system focused the attention of the students away from excelling at academics - instead, everyone focused on getting higher and higher targeted handouts for their "target" group.
a. The quality of academics - the reason why handouts started in the first place - was all but forgotten.
3. The handouts further widened the gap between rich and kids - the rich thrived while the poor students languished without access to better facilities - the opposite of what was expected.
4. With all the expenses to manage handouts, Bharat's finances deteriorated so much that they had very little money left to solve the issue at the root level and fulfill the big vision.
The concerned authorities soon realized that -
The movie failed to live up to the expectations of the trailer.
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Raja Jamalamadaka is a TEDx and corporate speaker, entrepreneur, mentor to startup founders, winner of "Marshall Goldsmith award for coaching excellence" for being top 100 coach to senior industry executives, a board director and a member of CXO search panels. He was adjudged a LinkedIn Top Voice 2018 for being one of the platform's most insightful and engaging writers. His primary area of research is neurosciences - functioning of the brain and its links to leadership attributes like productivity, confidence, positivity, decision making and organization culture. If you liked this article, you might like some of his earlier articles here:
The importance of mentorship
How to use your brain effectively and be your creative best?
How to work 8 hours and accomplish more than 16 hours of work?
How I solved my phone addiction challenge ?
What is leadership?
How to overcome stage fear
How to be in the Right Place at the Right Time
How to use your brain effectively for success
How to stay relevant in a dynamic job market
How to sustain professional success
How to be Happy in Life
How to become an effective communicator https://www.linkedin.com/pulse/story-explains-why-rs-6000-year-pension-farmer-more-raja-jamalamadaka
TNJFU University - VC Speech English
TNJFU Fisheries University
Published on Jan 6, 2019
Category People & Blogs
TNJFU - The Department of Fisheries university inTamil Nadu - www.tnjfu.ac.inThe Department of Fisheries was started in Tamil Nadu Agricultural University (TNAU) during 1973. The Fisheries College, Thoothukudi was established in 1977 and the first batch of students for B.F.Sc., Programme were admitted. The Fisheries College was upgraded as Fisheries College and Research Institute (FCRI) during the year 1989. The Fisheries College and Research Institute (FCRI), Thoothukudi became a constituent Institute of Tamil Nadu Veterinary and Animal Sciences University (TANUVAS) with effect from 20.09.1989. Tamil Nadu Fisheries University (TNJFU) was established on June 19, 2012 with head quarters at Nagapattinam. In due course of time, the TNJFU have gained widespread recognition as University of excellence.
TNJFU Fisheries University
Published on Jan 19, 2019
TNJFU University - Pon Vilaiyum Bhoomi
Category People & Blogs
Google's 20th Birthday - Google enjoy's its 20th Year
Published on Sep 27, 2018
#7 ON TRENDING - Google's 20th Birthday - googledoodles
Twenty (ish) years ago, two Stanford Ph.D. students launched a new search engine with a bold mission to organize the world?s information and make it universally accessible and useful. Though much has changed in the intervening years?including now offering Search in more than 150 languages and over 190 countries?Google is still dedicated to building products for everyone.
Today?s video Doodle takes a stroll down memory lane by exploring popular searches all over the world throughout the last two decades.
So whether you?ve searched for the status of your favorite object orbiting the sun, the latest on the world?s biggest events, or how to impress on the dance floor: Thank you from Google.
For more info & Doodles, please visit: https://www.google.com/doodles/googles-20th-birthday/
Category - Film & Animation
The inside story of Vishal Sikka's resignation - 20 August 2017
BENGALURU: Infosys was reluctant to let Vishal Sikka go and, fed up though he was with the allegations directed against him, repeatedly tried to dissuade him from quitting for about a week, sources with direct knowledge of the matter told ET.
Sikka was disturbed by the stream of accusations from founder NR Narayana Murthy and others, and had told the board about his intention to leave. "I have had enough," Sikka told ET after the news of his resignation broke.
"Things were pretty bad for over 15 months. After February this year, it became really nasty. They were going on and on, over and over, again and again, over some nonsensical agenda." He added that declining to disclose the full report of the investigation into a whistleblower's allegations was not his decision. "It was for the audit committee to take that decision. They had the best legal advice on whether to release this report or not. No one ever publishes a report like this. Infosys has not done it," Sikka said.
Sikka also disagreed strongly with the view that the summary report exonerating him and Infosys was not credible. "Two former US federal prosecutors and a high-quality team put together this report. They went over everything and found nothing," he said.
"It is nonsensical to say (responding to Murthy's comment that it was not credible) that you have paid your own lawyer. It is a bit like saying you have an audit firm but you don't believe their report as you are paying them." He did not blame the board for not being able to shield him. He added that the company always had the backing of the other shareholders. "I have always received strong support from the board.
At the AGM, we received overwhelming support from retail investors," Sikka said. "We always had strong support from institutional shareholders." Among those who sought to change Sikka's mind was chairman R Seshasayee, during a trip to Palo Alto. But Sikka, who's based in the US city, was not willing to change his mind. "Sesh and he met five-six times, as Sesh is in the US. The letter (from Murthy) that claims that he is not CEO material was not the reason for this move," a source with direct knowledge of the matter told ET.
The source added that Sikka had met with co-chairman Ravi Venkatesan in June for a long discussion. "Venkatesan told Sikka that he would resolve this situation, but that was not happening," the source said.
Sikka, whose salary was one of the many bones of contention with the founders, will be paid $1 for his time as executive vice-chairman. His stock and options will continue to vest as normal. He will not receive any severance pay. Sikka, in recent letters to employees, had hinted constantly at his disenchantment with the top job at Infosys and there were rumours that he would quit.
"Recently, when I turned 50, another anniversary, a great teacher of my life gave me a rare book of reflections by Hermann Hesse. In it I found this one gem: Some of us think holding on makes us strong, but sometimes it is letting go," he said in the August email. He also asked employees to look to the future.
"The future is really a construction of now. A string of beautiful, momentous nows. We live with an illusion of permanence, but all we really have is the now, with their beauty, their opportunity, their challenge, their ephemerality," he wrote.
More information and source : https://www.techgig.com/tech-news/The-inside-story-of-Vishal-Sikka-s-resignation-122387
This is Infosys' biggest problem now - 20 August 2017MUMBAI | BENGALURU: The dramatic departure of Vishal Sikka as chief executive of Infosys, following a months-long public battle with the tech giant's founders, has left the company with another messy problem: how to find someone willing to replace him.
With the boardroom row still simmering, the pressure will be on to do that fast.
The company's last CEO hunt in 2014 was a major challenge. Sikka, the eventual choice who was plucked from a top job at SAP, was the first chief appointed from outside the group of founders. His brief was to turn around a faltering business.
Three sources familiar with internal discussions three years ago said they expected an even tougher challenge now.
"It was extremely hard to find an external candidate last time, and the spat is going to make the job even more difficult now," said one of the sources.
"I think there is very little chance there will be an external candidate."
The new boss will be taking on a company in better shape than it was in 2014: Sikka has led efforts to diversify Infosys away from basic IT outsourcing services into more lucrative new areas, like cloud, automation and artificial intelligence.
Infosys' share price surged 22 percent between Aug. 1, 2014, when Sikka took office and Thursday, outperforming the broader Nifty IT index, which gained 6.3 percent in the period.
But his successor will also join during one of the most turbulent patches ever for the $150 billion Indian IT services sector. The industry is facing squeezed margins, Brexit question marks over European businesses, and uncertainty in the United States, thanks to visa policy changes.
Infosys' chairman, R Seshasayee, told reporters the company would not look for a major change in culture or strategy and was confident it could still attract talent.
"There may be some people who get excited by these kinds of challenging situations," said a senior Infosys source. "But anyone who is comfortable and doing well will think long and hard before taking this job."
The company has not publicly identified potential successors, though the interim chief executive Pravin Rao, CFO Ranganath D Mavinakere, deputy COO Ravi Kumar S and Mohit Joshi, the head of banking, financial and insurance services, are among the top internal candidates, according to the company source.
More information and source : https://www.techgig.com/tech-news/This-is-Infosys-biggest-problem-now-122384
Major Outage Shuts Down Office 365 in U.S. & EuropeAs reported on microsoft status website - https://portal.office.com/servicestatus
Title: Couldn't sign in to OneDrive
User Impact: Users may have been intermittently unable to sign in to OneDrive.
Current status: We're analyzing system logs to determine the next troubleshooting steps.
Current status: We're deploying a fix to restore service. Users should begin to experience service restoration as the fix is rolled out.
Current status: We've deployed a fix for the underlying issue, but there is some residual impact. We're working to isolate the cause and determine our next troubleshooting steps.
Current status: We've determined that the previously resolved issue had some residual impact to the service configuration for OneDrive. We're performing an analysis of the affected systems to determine what further steps are needed for full recovery.
Current status: We're restarting the affected systems to resolve the configuration issue that caused impact to the service.
Current status: We've restarted the affected systems and we're monitoring the service to confirm that impact has been remediated.
Current status: The affected systems are undergoing recovery and we're continuing to monitor service health until impact is completely remediated.
Final status: We've monitored the infrastructure and have confirmed that restarting the affected systems remediated impact.
More info: In some cases, after signing in to OneDrive, users were unable to access their content. As the issue was intermittent in nature, users may have been able to reload the page or make another attempt successfully.
Start time: Tuesday, March 21, 2017, at 5:15 PM UTC
End time: Wednesday, March 22, 2017, at 9:50 AM UTC
Source where i got the information about microsoft incident - http://www.thewhir.com/web-hosting-news/major-outage-shuts-down-office-365-in-u-s-europe
After US passing new bill on H1-B in Jan 2017 - Indian IT companies need to stop using H-1B visas: Narayana MurthyA legislation was introduced earlier this week in the US House of Representatives which among other things calls for more than doubling the minimum salary of H-1B visa holders to USD 130,000, making it difficult for firms to use the programme to replace American employees with foreign workers, including from India.
The proposed overhaul of popular H-1B visa regime by US President Donald Trump has raised concerns among the Indian IT firms.
Also, the recent introduction of a US bill (Lofgren Bill) that proposes doubling of the minimum wages of H-1B visa holders to USD 130,000 from USD 60,000 has made the industry worried.
Result on this bill - Any changes in the visa regime may result in higher operational costs and shortage of skilled workers for the USD 110 billion Indian outsourcing industry.
Statement by India's top US staffing company,
Infosys co-founder N R Narayana Murthy on 2 February urged Indian software companies to stop sending people on H1-B visas and focus on local hiring in the United States amid rising concerns over President Donald Trump administration's proposals to restrict inflow of foreign workers.
Stating that by and large Indian mindset is always to take the "soft option", Murthy -- one of the pioneers of India's IT outsourcing industry -- said becoming multi-cultural is not easy and is a "very, very hard option".
"They (Indian software companies) must recruit American residents in the US, Canadians in Canada, British people in Britain etc. That's the only way, we can become a true multi-national company and in order to do that, we should stop using H1-B visas and sending a large number of Indians to those countries to deliver services," Murthy said.
Tech Mahindra Reaction,
Vineet Nayyar, Vice-Chairman of Tech Mahindra told CNBC News 18 that, "If the reform goes through, the resultant increase in employee wages will be a cost worry for the IT industry, but Tech Mahindra doesn't see it as a disaster to be overly concerned."
Times Now Reaction,
Times Now quoted Economist Meghnad Desai as saying, "It is India's interests that Trump should be liberal with H1B visas. India exports labour and it is in India's interests that other people welcome India's labour. As the Bill has not been passed, it is too early to look at economic effects of the move. Obviously, there will be protests from importers of labour like Google."
More detailed Information : https://in.finance.yahoo.com/news/indian-companies-stop-using-h-101855085.html
Facebook reported net income of $10.2 billion in 2016, up 177 per centLos Angeles, Feb 2 (IANS) Facebook reported net income of $10.2 billion in 2016, up 177 per cent from the previous year's total of $3.7 billion.
The online social media giant headed by Mark Zuckerberg, whose businesses include its signature social networking service and apps such as Messenger, Instagram and WhatsApp, said its revenues rose by 54.2 per cent to $27.6 billion, compared with $17.9 billion in 2015, Efe news reported.
In the fourth quarter of 2016, Facebook's net income rose 128 percent to $3.6 billion and revenue climbed 51 percent to $8.8 billion.
Advertising sales, Facebook's main revenue generator, accounted for $26.9 billion of the Menlo Park, California-based company's total revenue in 2016.
Facebook also said it earned $12.4 billion in income from operations last year, nearly double the total from 2015 ($6.2 billion), and that its number of daily active users rose to an average of 1.23 billion, up 18 per cent from the previous year.
The company said its diluted earnings per share totaled $3.49, compared with $1.29 in 2015.
More information - https://in.news.yahoo.com/facebooks-net-income-soars-177-2016-022804020.html