Try it now:
 

 
ADDENDUM : How to deal with anxiety ?
[-]
"Worrying is carrying tomorrow's load with today's strength- carrying two days at once. It is moving into tomorrow ahead of time. Worrying doesn't empty tomorrow of its sorrow, it empties today of its strength." - Corrie ten Boom

"Man is not worried by real problems so much as by his imagined anxieties about real problems" - Epictetus

"Okay, so, flying," I started, taking a deep breath and focusing on the thing I loved most in the world. "Flying is … great. It feels great when you're doing it. It's fun. Pure freedom. There's nothing better." Dylan smiled, a slow, easy smile that seemed to light up his whole face. "So the first thing we're going to do," I told him, "is push you off the roof." - James Patterson, Fang

Live Traffic Feed [-]
 

 


  http://stackoverflow.com/questions/2606683/intro-bar-like-stack-overflow topbar

Special links

 

Untitled Document

 

Odisha's Department of Agriculture and Farmers" Empowerment signs MoU the Bill & Melinda Gates Foundation.


Thesynergyonline Economics Bureau

NEW DELHI, APRIL  21 :
The Department of Agriculture and Farmers" Empowerment (DOA&FE), Government of Oclisha,, and the Bill & Melinda Gates Foundation on Friday signed a memorandum of u Understanding (MoU) to further the objectives of improving the lives of smallholder farmers and promoting inclusive agricultural transformation in Odisha. In the presence of Chief Minister Naveen Patnak. Tthe agreement was signed by Mr Hari Ballav Mishra, Director of Agriculture and Food Production, Government of Odisha and Dr Nick Austin. Director of Agricultural Development at the Bill & Melinda Gates Foundation.
The MoU will formalize a partnership between the State Government and the Foundation to accelerate the State’s agriculture programme and improve the lives of smallholder farmers in Odisha.

The MoU will allow the Government and the Foundation to partner on agriculture projects, including a project to improve data management, analysis and use within the Department of Agriculture.


Other activities may include expansion of biofortified crops in Odisha, generating evidence on policy issues pertaining to farmers' income, land, women in agriculture, and crop diversification and developing joint programmes on soil diagnostics and agronomic inputs targeting.

The first project to be initiated under the MoU will build a data management system that supports the Department of Agriculture in using data to make evidence-based policies. The project will combine data from Government sources into a single platform to help the Department monitor and improve its work. It will support the creation of a Technical Support Unit (TSU) within the Government to develop the system and train users. The project will be governed by a Advisory Committee chaired by the Principal Secretary of the Department of Agriculture & Farmers" Empowerment, and will leverage the knowledge of local and global experts in data and agriculture.

“Your body is a temple, but only if you treat it as one.”  ~Astrid Alauda

Indian nutraceuticals industry to touch
US$ 8.5 billion by 2022: study

Thesynergyonline Economics Bureau



NEW DELHI, APRIL 18 :“Mainstream medicine would be way different if they focused on prevention even half as much as they focused on intervention"

Indian nutraceuticals market is expected to cross from a value of US$ 2.8 billion in 2015 to a value of US$ 8.5 billion by 2022, according to the joint study brought out by ASSOCHAM and RNCOS.

 

In 2015 India accounted for a share of around 2 per cent of the global market. By 2022 the share is anticipated to increase to a value of approximately 3 per cent owing to India,s large population base, increasing urban belt and awareness, according to a study on 'Indian Nutraceuticals, Herbals, and Functional Foods Industry', jointly conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and RNCOS.

 

 


Spring flew swiftly by, and summer came

Sharp rise in ACs, power back up
devices this summer: ASSOCHAM

Thesynergyonlinne Economics Bureau


NEW DELHI, APRIL 15 :
"Summer was here again. Summer, summer, summer. I loved and hated summers. Summers had a logic all their own and they always brought something out in me. Summer was supposed to be about freedom and youth and no school and possibilities and adventure and exploration. Summer was a book of hope. That's why I loved and hated summers. Because they made me want to believe."
- Benjamin Alire Sáenz, Aristotle and Dante Discover the Secrets of the Universe


Onset of early summer with sudden rise of temperature in most parts of India has given a big boost to Air conditioner (ACs), inverters, generators and air coolers with demand estimated to be going up between 35-45 per cent this season as compared to last year, an ASSOCHAM survey has indicated.

In all the major cities, the demand for AC has seen a sharp pick up in the last three weeks with the trend growing up by the day, as heat and dust goes up, particularly in northern, western and eastern parts of the country. According to the market survey based on feedback from the retailers and distribution chain, the ACs market is expected to increase by 40-45% this year. The apprehensions of deficient rains because of possible El Nino would add to the demand for the electric gadgets including the power back up devices like generators and inverters, reveals the ASSOCHAM latest paper.

Seizing the opportunity, the consumer finance companies are offering tempting offers claiming zero interest options, adding to the demand surge, the survey noted.

  • April

    "TO what purpose, April, do you return again? Beauty is not enough. You can no longer quiet me with the redness Of little leaves opening stickily. I know what I know. The sun is hot on my neck as I observe The spikes of the crocus. The smell of the earth is good. It is apparent that there is no death. But what does that signify? Not only under ground are the brains of men Eaten by maggots. Life in itself Is nothing, An empty cup, a flight of uncarpeted stairs. It is not enough that yearly, down this hill, April Comes like an idiot, babbling and strewing flowers." - Edna St. Vincent Millay

  • Summer

    "Summer is only the unfulfilled promise of spring, a charlatan in place of the warm balmy nights I dream of in April. It's a sad season of life without growth…It has no day." - F. Scott Fitzgerald

  • "Autumn"

    "To Autumn Season of mists and mellow fruitfulness! Close bosom-friend of the maturing sun; Conspiring with him how to load and bless With fruit the vines that round the thatch-eaves run; To bend with apples the moss'd cottage trees, And fill all fruit with ripeness to the core." - John Keats, The Complete Poems" - Timothy Findley, The Wars

  • "The seasons bring to life the living lyre"

    "Summer The seasons between spring and autumn, comprising in the Northern Hemisphere the warmest months of the year: June, July and August. The period of finest development, perfection, or beauty previous to any decline; the summer of life." - Cecelia Ahern, The Year I Met You

  • "The summer in you calms the winter in me." ? Saiber, The Summer in You

    ""I sing of brooks, of blossoms, birds, and bowers: Of April, May, of June, and July flowers. I sing of Maypoles, Hock-carts, wassails, wakes, Of bridegrooms, brides, and of their bridal cakes." - Robert Herrick

 

 


In bigger markets and well off areas, the demand for split air conditioners is witnessing a sharp rise , though the base remains low. "As the window space is an issue in growing cities, the split ACs are preferred. Besides, the segment has caught the imagination of the better off and upper middle class people, though the price differential between the window and split is upward of 30 per cent", ASSOCHAM Secretary General Mr D S Rawat remarked.


The survey noted that the customer is lot more conscious about energy saving devices thanks to high cost of electricity. The awareness about the star ratings for the electric devices is on the rise , which is a good sign, said Mr. Rawat.


With the increase in demand for electricity and peak hour shortages still seen in several states like UP, Punjab, Haryana, Rajasthan, Tamil Nadu, Karnataka, among others, the demand for the power back up devices like invertors and generators is expected to rise by 20-25 per cent this summer over the same period last year. Such devices are in more in demand in tier-II and tier-III cities.


Though air coolers are giving way to air conditioners, the product design for the former has really seen quite an improvement. Some of the high end air coolers are coming in compact design and shape. However, the key lies in their difference in pricing and power consumption as compared to ACs.
While people sweat it out, the business opportunities in the ongoing summer are there for asking, the ASSOCHAM survey said.


AC maintenance companies reported a 100 per cent jump in demand over the past week alone while residents grappled with stifling conditions in homes and offices, reveals the survey.

"Each meeting occurs at the precise moment for which it was meant. Usually, when it will have the greatest impact on our lives." - Nadia Scrieva, Fathoms of Forgiveness

 


 

43rd AGM of SCOPE held

Thesynergyonline Economics Bureau

Mr Ved Prakash, Chairman, SCOPE and CMD, MMTC and Dr U D Choubey, Director General, SCOPE addressing the Governing Council Members.
 

NEW DELHI, DECEMBER 29 : The 43rd Annual General Meeting of the Governing Council of SCOPE (the apex body of PSEs) was held on Wednesday (December 28, 2016.

Mr. Ved Prakash, Chairman, SCOPE & CMD, MMTC and Dr. U.D. Choubey, Director General, SCOPE addressed the Governing Council Members. Large many representatives of PSUs were  present on the occasion.

 

 Mr. Ved Prakash, Chairman, SCOPE in his address informed  that SCOPE has transformed its role to become more proactive to enable the PSEs to compete in today’s highly dynamic global environment. 

He thanked Chief Executives of member PSEs for the support extended to SCOPE all these years for the sustained performance and growth of Public Sector Enterprises (PSEs) in India. 

css demo

"The payment of legitimate taxes should be considered as part of the process", says Aurn Jaitley

FM : There is a need for move towards
a mindset of voluntary compliance

Payment of due tax is a responsibility of every citizen; Coordination between the Central and the State administration is important for smooth transition of GST regime so that the taxpayer of the country does not suffer.

00ff33 66ccff ffff99 00ffcc

 

Thesynergyonline Economics Bureau


Legimate taxes

The Finance Minister also reminded the officers that India's economy is undergoing major changes and that shall continue to challenge them to be capable officers at every stage of their career. The Finance Minster stressed on the 'Culture of Correctness' and 'Fairness' that every officer should follow in their work as Revenue Officers. He also wished NACEN well in the construction of the new Training Campus and Academy in Palasamudram, Hindupur, Andhra Pradesh. He concluded his address by motivating the officer trainees to train well and become officers who can lead this country into economic glory.
Untitled Document 

NEW DELHI, DECEMBER 26 : The Union Finance Minister Mr Arun Jaitley said that there is an urgent need for change in mindset and India has to move towards a mindset of voluntary compliance. He said that the payment of legitimate taxes should be considered as part of the process and nobody should think that tax evasion is acceptable.

 

The Finance Minister further said that the payment of due tax is a responsibility of every citizen. The Finance Minister was delivering the inaugural address after inaugurating the Professional Training Course of 68th Batch of IRS (C&CE) Officer Trainees at National Academy of Customs, Excise and Narcotics (NACEN) in Faridabad (Haryana) on Monday.

 

Addressing the young IRS Officers, the Finance Minister inspired them to be hardworking and efficient while ensuring integrity and credibility in their careers. The Finance Minister expressed his faith in the probationers to be able to carry-out the onerous task of smooth rolling-out and administering the new indirect tax administration system i.e. Goods and Services Tax (GST). Mr Jaitley impressed the gathering the importance of coordination between the Central and the State administrations in smooth transition from the old to the new Indirect Tax regime so that the taxpayer of the country does not suffer.

The Finance Minister also reminded the officers that the economy of the country is undergoing major changes and that shall continue to challenge them to be capable officers at every stage of their career. The Finance Minster stressed on the 'Culture of Correctness' and 'Fairness' that every officer should follow in their work as Revenue Officers. He also wished NACEN well in the construction of the new Training Campus and Academy in Palasamudram, Hindupur, Andhra Pradesh. He concluded his address by motivating the officer trainees to train well and become officers who can lead this country into economic glory.
 

The Finance Minister also reminded the officers that the economy of the country is undergoing major changes and that shall continue to challenge them to be capable officers at every stage of their career. The Finance Minster stressed on the 'Culture of Correctness' and 'Fairness' that every officer should follow in their work as Revenue Officers. He also wished NACEN well in the construction of the new Training Campus and Academy in Palasamudram, Hindupur, Andhra Pradesh. He concluded his address by motivating the officer trainees to train well and become officers who can lead this country into economic glory.


Along with the Union Minister of Finance,Mr Arun Jaitley, Chairman of Central Board of Excise and Customs(CBEC), Mr. Najib Shah, Members of the Central Board of Excise and Customs – Mrs Vanaja Sarna, Mr Ram Tirth and Mr S Ramesh also were present on the occasion with their presence. The function was also attended by senior district authorities including the Municipal Commissioner of Faridabad, Ms. Sonal Goel.

 


Earlier, the event commenced with traditional lighting of the lamp and presentation of a sapling to the Union Finance Minister.

 

In his welcome address, the Director General of NACEN, Mr P.K. Dash spoke about the history of NACEN and introduced the 68th Batch to the gathering. The strength of 68th Batch of IRS(C&CE) is 186 officer trainees, consisting of 32 female officers and 154 male officers, including 5 Bhutanese Officers. The average age of the batch is 28, with the youngest probationer being 23 years old. The batch consists of 50 per cent engineers, 16 per cent Doctors, 11 per cent MBAs, 3 per cent Law graduates, 2.2 per cent PhD awardees, 11 per cent Masters and 4.9 per cent Bachelors degree holders. The Director General also thanked the Finance Minister for backing NACEN's efforts to develop a new state-of-the-art world class academy at Palasamudram, Andhra Pradesh.

 

The Chairman, CBEC, Mr. Najib Shah in his address talked about the content and process of training that the IRS (C&CE) probationers undergo while at NACEN. He also stressed on the importance of the IRS(C&CE) Officers in guarding the economic frontiers of the country as well as facilitating the trade for which CBEC has taken lot of initiatives in the recent past.

 

"Humanity is not without answers or solutions regarding how to liberate itself from scenarios that invariably end with mass exterminations. Tools such as compassion, trust, empathy, love, and ethical discernment are already in our possession. The next sensible step would be to use them."
― Aberjhani, Splendid Literarium: A Treasury of Stories, Aphorisms, Poems, and Essays

css demo

Click here to expand : FICCI CSR Summit and Awards 2016

 

Conference on "Strengthening CSR Ecosystem
in India for Sustainable Impact" held

 

Thesynergyonline Economics Bureau

Strengthening CSR Ecosystem in India for Sustainable Impact'
"The first step towards creating an enabling environment is to include key external stakeholders such as governments, incubators and public institutions experts. The FICCI CSR Summit and Awards is one such platform to engage, discuss and share experiences."
As for Korean companies in India, it has been challenging to localize their initiatives and bring efficiency which is a common problem faced by MNCs. Right now there are 500 Korean companies in India but soon the number will touch 1000 because of the booming Indian industry. Despite success stories of Hyundai, LG, Samsung in CSR space, there is a huge prospect for refining the model."
Padma Bhushan Mrs Rajashree Birla, said, "CSR is increasingly becoming a business strategy and it can reap accelerated results and success when CSR vision is parallel with the business vision."
"The first step towards creating an enabling environment is to include key external stakeholders such as governments, incubators and public institutions experts. The FICCI CSR Summit and Awards is one such platform to engage, discuss and share experiences."
 


Women empowerment

The 6th Korea-India CSR Forum was one of the highlights of the conference. Alluding to the six years of association of Korean Embassy in India with FICCI, Mr. Hyun Cho, Ambassador of the Republic of Korea in India, said, "What can justify the constant efforts to create this dialogue is the underlining belief that if we work hard on issues, discuss the content, we can improve anything including our CSR initiatives. Even in Korea, CSR is evolving to cover more and more business ethics and human rights".
Untitled Document

 NEW DELHI, DECEMBER 24 :
The FICCI CSR Summit 2016 concluded which was organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) on the theme'Strengthening CSR Ecosystem in India for Sustainable Impact'.

 

The conference provided a platform to exchange ideas about strengthening CSR ecosystem in India for sustainable impact.

 


In the inaugural session, Padma Bhushan Mrs Rajashree Birla, said, "CSR is increasingly becoming a business strategy and it can reap accelerated results and success when CSR vision is parallel with the business vision."


Dr A. Didar Singh, Secretary General, FICCI said, "The first step towards creating an enabling
environment is to include key external stakeholders such as governments, incubators and public
institutions experts. The FICCI CSR Summit and Awards is one such platform to engage, discuss and share experiences."


The 6th Korea-India CSR Forum was one of the highlights of the conference. Alluding to the six years of association of Korean Embassy in India with FICCI, Mr. Hyun Cho, Ambassador of the Republic of Korea in India, said, "What can justify the constant efforts to create this dialogue is the underlining belief that if we work hard on issues, discuss the content, we can improve anything including our CSR initiatives. Even in Korea, CSR is evolving to cover more and more business ethics and human rights".

 

Mr. Hyun Cho added, "As for Korean companies in India, it has been challenging to localize their initiatives and bring efficiency which is a common problem faced by MNCs. Right now there are 500 Korean companies in India but soon the number will touch 1000 because of the booming Indian industry. Despite success stories of Hyundai, LG, Samsung in CSR space, there is a huge prospect for refining the model."

 

The forum delved deep into the strategies adopted by Korean companies in India with a round of
discussion with CSR heads of exclusive Korean companies and professor of Korean studies. India Korea relations has made great strides in recent years and has become truly multidimensional, spurred by a significant convergence of interests, mutual goodwill and high level exchanges.

 

During the conference exclusive discussions on various aspects of CSR such as on sustainable skill, inclusive development of people with disabilities, women entrepreneurship and sustainable wash solutions, were organized.

jQuery Animate a Div Height According to Content

Every time you click the above button some content will be added to box and the height of the box is adjusted through animation.

Citations

 


Women's contribution growing significantly in India's economic development

"Beti Bachao Beti Padhao, One Stop Centre, Kaushal Vikas, Mahila Kosh and other such schemes aimed at empowering women are being implemented across states," says Ms Krishna Raj. 00ff33 66ccff ffff99 00ffcc

 

Women's contribution growing significantly
in India's economic development

Thesynergyonline Economics Bureau

Women empowerment

Highlighting the role of trade and industry in promoting women empowerment, Ms Raj said, "More and more women need to be encouraged to take benefit of all such government schemes, industry bodies have a significant responsibility of promoting awareness as part of their corporate social responsibility (CSR) initiatives."
Untitled Document

 
NEW DELHI, DECEMBER 23 : The Centre is working towards getting various women-centric schemes and policies implemented at various levels across states in India, Union Minister of State for Women and Child Development, Ms Krishna Raj said at an ASSOCHAM event held in New Delhi.

"We are getting various policies for women empowerment implemented across states to further boost their contribution in India's economic development," said Ms Raj while inaugurating an ASSOCHAM summit on 'Enterprising Women: Rise up the ladder.'

"Beti Bachao Beti Padhao, One Stop Centre, Kaushal Vikas, Mahila Kosh and other such schemes aimed at empowering women are being implemented across states," she said.

"There is a need to promote awareness about various schemes floated by the government for women empowerment, more so in rural centres," she added.

The Union Minister said that through such schemes, women are not only getting trained but are also setting up their own businesses and are promoting employment at various levels.

Highlighting the role of trade and industry in promoting women empowerment, Ms Raj said, "More and more women need to be encouraged to take benefit of all such government schemes, industry bodies have a significant responsibility of promoting awareness as part of their corporate social responsibility (CSR) initiatives."

"It is not just at the urban centres, but women are significantly contributing towards growth and development of almost every sector today," further said the Union Minister.

She also said that women need to become fearless and raise their voices against the wrongdoings.

In her address at the ASSOCHAM conference, Aam Aadmi Party MLA, Ms Alka Lamba stressed upon the need for women to shed all inhibitions about the society's view about them but instead work towards becoming independent without getting bogged down by negativity.

"Women have been facing challenges in every sphere of life as such they should not wait for society and people to change their mindset but instead remain positive and work towards reaching their goal," said Ms Lamba.

Urgent need to promote innovative and environment-friendly urban transportation suitable for India : Mandaviya



Thesynergyonline Economics Bureau


Crude rise

He said people should ride bicycles to promote a more sustainable and friendly form of urban mobility thereby linking it to positive values such as social equity, environment friendly and healthy mode of transport.
Untitled Document

  
NEW DELHI, DECEMBER 23 : There is a pressing need to promote research and innovation for devising a sustainable urban road transport model that is suitable for India, Union Minister of State for Road Transport, Highways & Shipping, Mr Mansukh L Mandaviya said at an ASSOCHAM event held in New Delhi.

"We have so many new and renewable sources of energy like solar, wind, bio-fuel, electric and hybrid vehicles, automation and other such technologies, all of this is important, but we should come up with our own model based on traditional and indigenous ways and means as that would be more apt," said the Union Minister while inaugurating an ASSOCHAM conference on 'Sustainable Urban Transport.'

"It is not necessary that a model which has been successful in a particular country will also prove to be fruitful for India, we need to devise our own model to tackle traffic related problems at urban centres," he added.

He said people should ride bicycles to promote a more sustainable and friendly form of urban mobility thereby linking it to positive values such as social equity, environment friendly and healthy mode of transport.

"More and more people should begin to embrace the bicycle as an alternative for stimulating a more sustainable urban mobility," said Mr Mandaviya.
 

Mr Mandaviya also talked about further promoting inland water transport.

 

 
SCOPE seminar.

Interest cut to be far cry as dollar,
crude rise: ASSOCHAM Paper

Thesynergyonline Economics Bureau

Crude rise

Commenting on the situation, ASSOCHAM President Mr Sunil Kanoria said, "we are slowing moving away from a highly beneficial position of low crude oil prices and a stable and strong rupee which made the landed cost of energy quite cheap. This has helped the government finances as also benefited the consumers. Now, we are getting into the reverse position where crude oil is firming up and rupee is becoming weaker. Thus, it would be a double whammy of increased import bill in dollar terms and on top of it, higher landed cost on account of weaker rupee .
Untitled Document

 

NEW DELHI, DECEMBER 18 : The prospects for cut in the policy interest rates by the Reserve Bank of India (RBI) may be adversely affected by continuous pressure on rupee against dollar, firming of the US interest rates along with the hardening of the crude oil prices, an ASSOCHAM Paper on the unfolding Macro Picture noted.



"It is true that there is an ample liquidity in the banking system following demonetization and lowering of inflation both at the WPI and CPI levels, but then this cannot be taken as a normal situation. Once the scrapped Rs 500 and Rs 1000 notes are replaced and fresh currency is injected back into the system fully, the ball game would change. Besides, there are certain commodities like sugar and wheat which are witnessing firming of prices," the Paper pointed out.

It said, the biggest risks are emanating from the unfolding global scenario marking sharp strengthening of the US dollar , raking in international money back into the American economy. Most of the Emerging Markets have witnessed huge outflows, exerting pressure on their currencies. "While India may get consolation from the fact that we are less affected, the fact is we are amongst the largest crude oil importers in the world and net importing country. So, the dollar strengthening has a direct and immediate impact on the country's overall balance of payment position and would lead to inflation in the medium term".

Commenting on the situation, ASSOCHAM President Mr Sunil Kanoria said, "we are slowing moving away from a highly beneficial position of low crude oil prices and a stable and strong rupee which made the landed cost of energy quite cheap. This has helped the government finances as also benefited the consumers. Now, we are getting into the reverse position where crude oil is firming up and rupee is becoming weaker. Thus, it would be a double whammy of increased import bill in dollar terms and on top of it, higher landed cost on account of weaker rupee ".

 

According to the ASSOCHAM Paper while weaker rupee is good news for the Indian exporters,
they would face greater competition from the peers like China, Vietnam, the Philippines
and Bangladesh. "The Chinese currency is melting against dollar , helping its exporters
in the process. Thanks to weakening of the Renminbi, Japan has overtaken China as the largest
holder of the US treasuries".

 


Among the domestic challenges, the play-out of the demonetization remains to be seen in terms of impact on the Gross Domestic Product while uncertainty over implementation of the Goods and Services Tax (GST) has increased.

"Thus, however much we in the industry might like to see lowering of interest rates, the macro picture may be make it a difficult proposition", the Paper noted.

 

"How hurtful it can be to deny one's true self and live a life of lies just to appease others."
― June Ahern

Need to inspire commitment in our workforce:
Pranab Mukherjee, President of India

To know much and taste nothing-of what use is that?”  ― Bonaventure

 

Thesynergyonline Economics Bureau

Spirituality

"Spirituality is important for any individual. At times, it is confused with religion but spirituality carries a deeper meaning in its strong connect in our daily lives, including our workplace. Being spiritual is being devoted, including devotion to one's work. Working harder for the growth of the nation is an act of devotion in itself. "
Untitled Document

 

NEW DELHI, DECEMBER 16 : A workforce that is motivated and content, work with devotion and passion, strives for achievement and betterment, indicates the power of a spiritual and honest mind, said President Mr Pranab Mukherjee at an ASSOCHAM event held in New Delhi on Friday.


Spirituality means embodying kindness, compassion and selflessness. If these values flourish in our offices and factories, they would become happy and productive workplaces, the President said while inaugurating an ASSOCHAM World Confluence of Humanity, Power & Spirituality Programme here at New Delhi.

Their effect will transmit to the wider community. At the organisational level, companies have to look at how they are upholding their values. How congruous are their actions with regard to what they espouse as their values? How ethical are their actions and how fair are their practices? What behaviours in their employees are they rewarding ? Are these behaviours consistent with their values? Is there trust within the organisation and is the organisation trusted by the outside world for its integrity?", said President of India.

India is a nation with a large young population. The youth is our greatest strength and our beacon of hope for a brighter future. We have to ensure that our rich civilization values are instilled in them. If business leaders and other stakeholders come together, we can actualize the potential of our bright young minds. As we strive for higher levels of socio-economic development, we need to ensure that we remain connected to our values, said Mr. Mukherjee.

In today's world which is becoming more and more insular, it is imperative that we use spirituality to guide us in our thoughts, deeds and actions. Spirituality shows us how to treat others. All religions profess values for reformation of the human being. The Gita says and I quote: "Perform all work carefully, guided by compassion", said President of India.

.
 

Organisations have to ensure that their culture-the way they do things promotes a spirit of inclusion and collaboration. Working towards self-actualization has to be a way of life for the employees. An organisation that believes in and works towards spirituality at workplace will ensure that its people have every opportunity to self-explore, seek a higher purpose and behave with others with kindness and selflessness.


Spirituality is important for any individual. At times, it is confused with religion but spirituality carries a deeper meaning in its strong connect in our daily lives, including our workplace. Being spiritual is being devoted, including devotion to one's work. Working harder for the growth of the nation is an act of devotion in itself.

Human life is full of challenges and contradictions. On the one hand, we are continuously racing against time running towards fulfilling our life ambitions. Amidst work pressure and the anxiety to prove ourselves, we are also driven by the desire to look for peace of mind and achieve inner satisfaction. There diverse threads are not very difficult to integrate but to comprehend them, we have to delve deeper to understand the true meaning of life. This platform, to my mind, should help us to clarify come of our doubts and concerns.

 

Spirituality forms the support base of the moral and social principles which has made mankind civilized. We belong to a country and a civilization that has always attached great importance to spiritual thought. It is one of the many gifts India has given to the world. From ancient times to modern age, India has been a guiding light among nations when it comes to spiritual leadership.

"Consequences need not be the obstacles that I dread, but the direction that I need." - Craig D. Lounsbrough
 
 

Demonetisation a short term challenge :
Dr Arvind Subramanian, CEA

Thesynergyonline Economics Bureau

"Dr Subramanian said one of the challenges for the Indian economy in the short term is to manage the demonetisation fall-out "How do we manage demonetisation in the next few weeks and months", he said, adding however, that this would be a short term phenomenon.
On the hike in US interest rates, the CEA in the Finance Ministry said "This was anticipated and expected. My own view is that on this the Indian economy is very well cushioned to absorb the impact of this. The RBI policy also took account of this in a very sensible way. There may be some short term things. This is not something we need to worry about".
Listing the global challenges to be dealt with by the Indian economy, Dr. Subramanian said while the strengthening of US dollar would be of less concern, the main headwind can be felt in the form of weakening of Chinese currency and those of other competing economies.
As for the rising crude oil prices, he said there would be some ups and down. "If it persists there would be some implications but I don't think oil prices are going to surge to a level which is difficult to handle for India".

SCOPE

On the demand from the ASSOCHAM for lower rates in the goods and services tax (GST) Dr. Subramanian said the lower and simple taxes are always preferable but there was a strong case for inclusion of real estate and electricity into the GST value chain. He echoed the views express by ASSOCHAM president Mr. Sunil Kanoria and several others senior members of its managing committee who shared their perspective about state of Indian economy particularly after the demonetisation of high value currency notes.
Untitled Document



NEW DELHI, DECEMBER 15 :
Asserting that the Indian economy is "very stable" at macro level, the Chief Economic Advisor Dr Arvind Subramanian today said, managing demonetisation is a short term challenge for the next few weeks and months.

 

Addressing the ASSOCHAM Interactive session in New Delhi, Dr. Subramanian said one of the challenges for the Indian economy in the short term is to manage the demonetisation fall-out "How do we manage demonetisation in the next few weeks and months", he said, adding however, that this would be a short term phenomenon.

 

Referring to some important global developments like the latest hike in the US Federal Reserve rates and firming up of crude oil prices, he said the Indian economy is well- cushioned to cope up with these events.

 

On the hike in US interest rates, the CEA in the Finance Ministry said "This was anticipated and expected. My own view is that on this the Indian economy is very well cushioned to absorb the impact of this. The RBI policy also took account of this in a very sensible way. There may be some short term things. This is not something we need to worry about".



Asked about the outflows from the emerging markets, he said after the US elections there were already big fund flows from the emerging markets. "But given that India is in bright spot, the impact on us would be much smaller", said Dr. Subramanian.

 

As for the rising crude oil prices, he said there would be some ups and down. "If it persists there would be some implications but I don't think oil prices are going to surge to a level which is difficult to handle for India".



On the demand from the ASSOCHAM for lower rates in the goods and services tax (GST) Dr. Subramanian said the lower and simple taxes are always preferable but there was a strong case for inclusion of real estate and electricity into the GST value chain. He echoed the views express by ASSOCHAM president Mr. Sunil Kanoria and several others senior members of its managing committee who shared their perspective about state of Indian economy particularly after the demonetisation of high value currency notes.

Listing the global challenges to be dealt with by the Indian economy, Dr. Subramanian said while the strengthening of US dollar would be of less concern, the main headwind can be felt in the form of weakening of Chinese currency and those of other competing economies.

Listing the global challenges to be dealt with by the Indian economy, Dr. Subramanian said while the strengthening of US dollar would be of less concern, the main headwind can be felt in the form of weakening of Chinese currency and those of other competing economies.

 

He said it is not only the Chinese currency but also from Vietnam, Philippines and Bangladesh which would become more competitive. This could affect India's competiveness in the export markets. He said if the Indian economy has to grow by 8 per cent, then exports must expand by 15 per cent.

 

But key factor to watch, in the unfolding global scenario, would be whether the developed countries would be able to 'handle' more exports especially that of services from developing countries like India.


Dr. Subramanian also pointed out several key economic reforms undertaken by Indian economy in the recent past. This included passage of GST Constitutional Amendment Bill which he described as the "mother of all achievements".

 

The other reforms included the passage of the bankruptcy law allowing easy exit, Adhaar bill making the direct benefit transfer schemes functional and institutionalizing of the monetary policy committee in the Reserve Bank of India (RBI).

 

SCOPE to hold International Conference of SE Asian Countries on Occupational Safety &Health

Mrs M. Sathiyavathy, IAS, Secretary, Ministry of Labour & Employment while inaugurating the workshop complimented SCOPE for organizing Workshop on OS&H. The product was successfully added to your Shopping Cart


Thesynergyonline Economics Bureau

 
 
 

SCOPE

Chairman, SCOPE Mr. Ved Prakash stressed on creating a safety culture in the organization(s) as new issues are emerging because of technological and social changes. Dr. U.D. Choubey, Director General, SCOPE while agreeing to form a Steering Committee of select PSEs in SCOPE, said that SCOPE proposes to organize a Two Day International Conference on OSH with the support of ILO & Ministry of Labour & Employment and WHO where South Asian countries will participate. The programme was attended by a large number of OSH professionals in public sector enterprises.
Untitled Document


NEW DELHI, DECEMBER 14 : Standing Conference of Public Enterprises (SCOPE) organized the 6th National Workshop on "Excellence in Occupational Safety & Health at Workplace" in collaboration with Ministry of Labour & Employment and International Labour Organization (ILO).

 

Mrs M. Sathiyavathy, IAS, Secretary, Ministry of Labour & Employment while inaugurating the workshop complimented SCOPE for organizing Workshop on OS&H.

 

She emphasized the need for creating a centralized body drawn from select PSEs to address the issues of safety and health of workers in major industrial clusters. It will also provide a centralized data on all aspects of labour.

 

She also advised that PSEs as principle employer should take up issues of health and safety of contract labour.



Chairman, SCOPE Mr. Ved Prakash stressed on creating a safety culture in the organization(s) as new issues are emerging because of technological and social changes. Dr. U.D. Choubey, Director General, SCOPE while agreeing to form a Steering Committee of select PSEs in SCOPE, said that SCOPE proposes to organize a Two Day International Conference on OSH with the support of ILO & Ministry of Labour & Employment and WHO where South Asian countries will participate. The programme was attended by a large number of OSH professionals in public sector enterprises.


 

There is no exercise better

India and Indonesia provide bulwark against
radicalism and intolerance, says President

Thesynergyonline News Bureau

 


Lease period

The President said Indonesia is the largest economy in ASEAN and India's number one trade partner in the region. Our bilateral trade was about US$16 billion last year. We can try to realise the actual potential of our trade by diversifying our trade basket. India would value Indonesia's active support for strengthening India-ASEAN relations during 2017 when we will be celebrating 15 years of Summit level interaction.

NEW DELHI, DECEMBER 13 : The President of India, Shri Pranab Mukherjee yesterday (December 12, 2016) received His Excellency Mr. Joko Widodo, the President of the Republic of Indonesia and Madame Iriana Widodo at Rashtrapati Bhavan. He also hosted a banquet in their honour.

 

Welcoming the President of Indonesia to India, the President said India and Indonesia have has age-old bilateral ties. The two countries share a common experience of struggle for freedom from colonial rule.

 

The President said India welcomes Indonesia’s emergence as a vibrant democracy. India attaches high importance to Indonesia’s success as a pluralistic democracy with an open society based on the shared values of syncretism, tolerance and respect for diversity.

 

The President said we see India and Indonesia as two countries providing a bulwark against radicalism and intolerance. India values its cooperation with Indonesia to address these common security concerns and transnational threats. Our proximity as close maritime neighbours indicates that this is a key area where we must work together as partners to achieve for strategic stability and security in the Indo-Pacific and safety and security of sea lanes.

The President said Indonesia is the largest economy in ASEAN and India’s number one trade partner in the region. Our bilateral trade was about US$16 billion last year. We can try to realise the actual potential of our trade by diversifying our trade basket. India would value Indonesia’s active support for strengthening India-ASEAN relations during 2017 when we will be celebrating 15 years of Summit level interaction.

 

Subsequently, in his banquet speech, President Pranab Mukherjee said Indonesia and India helped to write the closing chapters of colonialism and started the Non-Aligned Movement. India looks forward to work with Indonesia to achieve the full potential of economic co-operation, maritime and air links and in increasing reciprocal investments. India would be happy to contribute to Indonesia’s 'maritime fulcrum vision' of Indonesia Nusantara and, thereby, also to the security of the Indo-Pacific region. In the multilateral and global context of facing the common challenges of the 21st Century, India and Indonesia, together, are factors of stability for the world.

Odisha Govt taking expeditious steps to extend lease
validity of more mines: Prafulla Kumar Mallik

Thesynergyonline Economics Bureau

 

' India consumption story' accounts for close to 60 per cent of the country's Gross Domestic Product (GDP) at current prices and 55 per cent at constant prices (base 2011-12.
Poor per capita steel consumption

Highlighting the poor per capita steel consumption in rural sector, Mr Mallik said there is a need to thrust upon infrastructure and automobile sectors that are amid largest consumers of steel. "Rise in demand from these sectors will help in augmentation of steel production which will help in capacity utilisation of existing facilities and bring down cost of production," he said.

In terms of numbers, the PFCE, at current prices, was estimated at Rs 21.78 lakh crore in Q2 of 2016-17 with a growth of 12.4 per cent over the similar period last year.
 



Lease period

The validity of lease period has already been extended in case of 82 mining leases including 55 iron ore producing leases as per the amended provisions of Section 8A (5) and 8A (6) of Mines and Minerals (Development and Regulation) (MMDR) Act, 1957," said Mr Mallik while inaugurating an ASSOCHAM India Steel Summit.

NEW DELHI, DECEMBER 09 :
The Government of Odisha is taking expeditious steps for extension of more cases of mines for extension of lease validity as per legal provisions, said Mr Prafulla Kumar Mallik, Minister of State for Steel and Mines, Labour and ESI (Employees' State Insurance) at an ASSOCHAM event held in Bhubaneswar on Friday

.

 

"The validity of lease period has already been extended in case of 82 mining leases including 55 iron ore producing leases as per the amended provisions of Section 8A (5) and 8A (6) of Mines and Minerals (Development and Regulation) (MMDR) Act, 1957," said Mr Mallik while inaugurating an ASSOCHAM India Steel Summit.

 

He said that coking coal reserves available in India have high ash content and are thus not fully suitable for making iron. "Efforts should be made to use indigenous wash coal to bring down cost of production, research and development (R&D) support without compromising with quality."

 

The Minister also said that focus should be made to maximise use of iron ore fines by enriching iron concentration through ore beneficiation and utilisation of iron ore in form of pellets which will not only bring down cost of steel but also promote a friendly environment.

 

He added that issues pertaining to logistics and infrastructure support must be addressed through mechanisation of mining and railway network in mines' area. "This will help in handling bulk quantity of iron ore raw materials and hence reduce transportation costs."

 

Highlighting the poor per capita steel consumption in rural sector, Mr Mallik said there is a need to thrust upon infrastructure and automobile sectors that are amid largest consumers of steel.

 

"Rise in demand from these sectors will help in augmentation of steel production which will help in capacity utilisation of existing facilities and bring down cost of production," he said.

 

The Minister also said that efforts should be made to encourage small and medium scale steel manufacturing in India. "Manufacture of household items like utensils and furniture in villages would lead to reduction in prices and lead to greater acceptability."

 

He said that there is a need to bolster rural infrastructure to encourage village level entrepreneurs to take up such businesses by providing them easy credit through microfinance schemes.

 

Mr Mallik said that training should be imparted to rural populace to work in steel sector, besides a R&D initiative should be undertaken to provide machinery in these areas at affordable costs.

 

"There is a need to ensure availability of raw material at a competitive price to realise the advantage of Indian steel sector," said Mr D.S. Rawat, secretary general, ASSOCHAM.

 

"Logistic costs remain the concern for transporting raw material and finished products, accordingly there is a need to develop required logistics support for transportation at a reduced cost," said Mr Rawat.

 

Less cash economy to help India leapfrog to levels of developed world in doing business: ASSOCHAM


Thesynergyonline Economics Bureau

 

Incentives

"A slew of incentives announced by Finance Minister Mr Arun Jaitley on digital payments at the essential services and public utilities, coupled with a simultaneous policy level push being devised by a high level committee of Chief Ministers and top policy makers and bankers would take India straight into the next level of digital economy.

NEW DELHI, DECEMBER 09 :
Prime Minister Mr Narendra Modi's bold drive to take the economy into a 'less cash' mode through a multi-pronged strategy would not only check the menace of black money and corruption but would also lead to a large part of the informal economy into the organised sector , said ASSOCHAM President Mr Sunil Kanoria.

"A slew of incentives announced by Finance Minister Mr Arun Jaitley on digital payments at the essential services and public utilities, coupled with a simultaneous policy level push being devised by a high level committee of Chief Ministers and top policy makers and bankers would take India straight into the next level of digital economy.

 

Such a leap-frogging would be unprecedented anywhere in the world and would place the Indian economy at par with some of the developed nations in terms of smooth commercial transactions," the ASSOCHAM President said in a statement.

 

He said once a large part of the transactions are captured into the banking system and dependence on hard cash is reduced, the problem of black money and corruption would be tackled by the systemic changes. "The digital transactions through banking, para-banking and non-banking channels leave a trail that would be the biggest hurdle for those unscrupulous sections in public life and bureaucracy which resort to rent-seeking that ultimately falls on common citizens, particularly the poor", Mr Kanoria said.

 

He said the ASSOCHAM would work with the government, banks, RBI and the state governments in promoting the digital economy through a series of measures. "We would reach out to our members, particularly in the MSME segments to shift towards digital formats of businesses", Mr Kanoria said.

 

The ASSOCHAM president urged the public sector banks to upgrade and launch more and more user-friendly applications which can be cost effective. Besides, all the government payments to the private sector can be mandatorily done through digital channels. "This would itself clean up the system", he said.

 

Mr Kanoria said the short-term difficulties of cash disbursals would lead to long term gains which would be many times over. The sectors which may be feeling the impact would gain in the long run as they would shift to a transparent way of doing business. "The sectors such as real estate would see a paradigm shift and a lot more transparency would be brought in. However, as urged by the ASSOCHAM earlier, there is a greater need for reducing the stamp duty on the property transactions; which would ultimately result in tax buoyancy".

 

As for the impact on the GDP, the fiscal 2017-18 would witness the gains, aided by the implementation of the Goods and Services Tax. Mr Kanoria also urged the state governments and all political parties to come on board and help clear the last hurdle in the GST implementation.

 

To alleviate the short-term impact on the GDP from the demonetisation, the ASSOCHAM has impressed upon the government to bring in reforms in taxation and boost public spending on physical and social infrastructure so that consumption demand gets a leg-up. Corporate tax should be reduced to 25 per cent while the exemption for personal income tax should be raised to Rs five lakh. The coming Budget could be a catalyst in this regard, Mr Kanoria said.

"Defer implementation of Stainless Steel Products Quality Control Order 2016 for another 12 months " - Sidewalk Prophets
As per Stainless Steel Products Quality Control Order (QCO) 2016 notified by Steel ministry on June 10, 2016 which makes Stainless Steel producers and importers to register their products with BIS , till date only One international & Four domestic manufacturers ( including 2 Jindal Steel Plants ) have received BIS Certification . Rest of the industry has to wait for months for the BIS certification due to cumbersome process
The current scenario of non registration has resulted in no availability of BIS standard stainless Steel currently in market which can be checked on grounds and hence the businesses will be paralyzed for few months in absence of the materials
Extend the implementation of Quality Control order as current shortage of raw materials can bring down various downstream industries to halt .Most of the industries are concentrated in Maharashtra, Gujarat and Chennai

“Honest winter, snow clad and with the frosted beard, I can welcome not uncordially; but that long deferment of the calendar's promise, that weeping loom of March and April, that bitter blast outraging the honor of May - how often has it robbed me of heart and hope. - George Robert Gissing
(English writer 1857-1903  )

Mumbai-based steel body urges deferment of stainless
Steel Products (Quality Control) Order , 2016

The order makes it mandatory for stainless steel producers and importers to register their products with BIS
 
 

 

Thesynergyonline Economics Bureau

MUMBAI, DECEMBER 05 : Mumbai based Metal And Stainless Steel Merchant's Association (MASSMA), apex body of stainless steel producers, importers and stockist in a letter to Union Steel Minister Chaudhary Birender Singh has urged to defer implementation of Stainless Steel Products Quality Control Order 2016 for another 12 months as most of the Stainless Steel producers and importers are still to get Bureau of Indian Standards (BIS) registration certificate.

 

"As per Stainless Steel Products Quality Control Order (QCO) 2016 notified by Steel ministry on June 10, 2016 which makes Stainless Steel producers and importers to register their products with BIS , till date only One international & Four domestic manufacturers ( including 2 Jindal Steel Plants ) have received BIS Certification . Rest of the industry has to wait for months for the BIS certification due to cumbersome process ." said Mr Manoj Kunango ,Chairman, Excise and Customs ,Metal & Stainless Steel Merchants Association (MASSMA) .

 

" The current scenario of non registration has resulted in no availability of BIS standard stainless Steel currently in market which can be checked on grounds and hence the businesses will be paralyzed for few months in absence of the materials. It looks shortage of raw material is going to create panic of unimaginable chaos and panic. MASSMA demands scraping of the Stainless Steel Quality control order and go by the international standards equivalent to Indian standards." Said Mr Jitendra Shah, President, MASSMA .

 

"MASSMA has urged the Minister to extend the implementation of Quality Control order as current shortage of raw materials can bring down various downstream industries to halt .Most of the industries are concentrated in Maharashtra, Gujarat and Chennai. More over taking benefit of current situation Jindal Stainless, the largest manufacturer having BIS registration has increased rates of popular grades like 304 by Rs 16 per kg and in 316 Rs 21 per kg which is approximately 11-13 per cent of the price and hard to imagine the situation further once order is in action ."he added.

SCOPE for mandatory orientation
programme for PSE board members

(We need) to raise that awareness on the corporate level that its (fitness) is cheaper than a trip to the hospital. – Patrick Hitchins


Thesynergyonline Economics Bureau

 


 

Good corporate governance

"It's about being proper and prosper."
 
NEW DELHI, DECEMBER 04 :
“That's what education should be," I said, "the art of orientation. Educators should devise the simplest and most effective methods of turning minds around. It shouldn't be the art of implanting sight in the organ, but should proceed on the understanding that the organ already has the capacity, but is improperly aligned and isn't facing the right way." -: Plato


 And so Speaking in the valedictory session of the two-day  Programme on Corporate Governance,  organized by (Standing Conference of Public Enterprises (SCOPE), Mrs Seema Bahuguna, Secretary, Department of Public Enterprises (DPE) complimented SCOPE for undertaking very important programme on Corporate Governance outsourced from internationally known experts on Corporate Governance.

Mrs. Bahuguna mentioned that community  relations is an important aspect of governance, and therefore, public sector enterprises should undertake such responsibility in letter and spirit.


Dr. U.D. Choubey, Director General, SCOPE emphasized the need of  mandatory orientation programme of Directors specially Independent Directors on the boards of PSEs. For that, SCOPE shall extend this module of two days programme in India to three days programme outside India for which SCOPE shall contact policy planning institutes and best known universities in the world.  Given to SCOPE, such programme would definitely give better performance of board members on best practices in corporate governance, Dr. Choubey added.

' India consumption story' accounts for close to 60 per cent of the country's Gross Domestic Product (GDP) at current prices and 55 per cent at constant prices (base 2011-12.
HIGHLIGHTS

With 86 % of cash out of circulation India consumption

the Private Final Consumption Expenditure

In terms of numbers, the PFCE, at current prices, was estimated at Rs 21.78 lakh crore in Q2 of 2016-17 with a growth of 12.4 per cent over the similar period last year.

'Jack up Govt expenditure to make up for loss
in private consumption due to demonetisation'

"With 86 per cent of the cash out of circulation and replenishment facing difficulties, the PFCE in the third quarter is expected to see a sizeable reduction to the extent of at least 35-40 per cent and slightly lower in the fourth quarter. Surely, when an important component accounting for 60 per cent of the GDP takes a hit to this extent, the overall impact is bound to be significant."
"As against Rs 5.15 lakh crore in the second quarter of the current fiscal, the government expenditure , at market prices, should be jacked up to Rs 7 lakh crore for each of the third and fourth quarter, even if some fiscal imbalances take place for the sake of growth."
 

 

 


Thesynergyonline Economics Bureau

 

NEW DELHI, DECEMBER 04 :
As the private consumption would be taking a significant hit on account of cash crunch in the economy at least in the next two quarters, the government should make all efforts to at least partly limit the impact of demonetization on the GDP by sharply jacking up its own expenditure during the fiscal 2016-17, the ASSOCHAM has said.

 


Measured in terms of expenditure, the Private Final Consumption Expenditure (PFCE) or popularly known as the ' India consumption story' accounts for close to 60 per cent of the country's Gross Domestic Product (GDP) at current prices and 55 per cent at constant prices (base 2011-12).

 

In terms of numbers, the PFCE, at current prices, was estimated at Rs 21.78 lakh crore in Q2 of 2016-17 with a growth of 12.4 per cent over the similar period last year. At constant prices, it was estimated at Rs 16.26 lakh crore for the July-September quarter of the current fiscal with the growth of 7.6 per cent.

Private Final Consumption Expenditure

"With 86 per cent of the cash out of circulation and replenishment facing difficulties, the PFCE in the third quarter is expected to see a sizeable reduction to the extent of at least 35-40 per cent and slightly lower in the fourth quarter. Surely, when an important component accounting for 60 per cent of the GDP takes a hit to this extent, the overall impact is bound to be significant."

Govt expenditure

"As against Rs 5.15 lakh crore in the second quarter of the current fiscal, the government expenditure , at market prices, should be jacked up to Rs 7 lakh crore for each of the third and fourth quarter, even if some fiscal imbalances take place for the sake of growth," ASSOCHAM said. "


 


Different ministries which have been earmarked the annual budget, should exceed their expenditure aggressively in case the damage control has to be effected from the demonetisation in the short to medium term. The government expenditure itself accounts for a good part of the GDP to the extent of 14 per cent.



The chamber said focus should be on sectors like roads and highways, ports, railways, telecom infrastructure, irrigation, flood control and rural uplift programmes. "Somehow, the government should devise ways to ensure that the construction of the projects do not suffer on account of shortages of cash".

14th Program on Corporate Governance
Dr Madhukar Gupta, IAS, Additional Secretary, Department of Public Enterprises inaugurated the programme
Organized by SCOPE under the aegis of DPE
Dr U D Choubey, Director General, SCOPE also addressed the inaugural session

 

"Don't step on your enemy's toe if your boots is not made of steel." - Paul Bamikole
 

 

 

SCOPE foresees large employment
opportunity in steel sector

Thesynergyonline Economics Bureau

 

NEW DELHI, NOVEMBER 30 : "Steel weighs more than wind."
― George R.R. Martin, A Dance with Dragons

This speaks volumes about prevalence of steel since ancient times.
And so on the occasion of release of Special Issue of Kaleidoscope on Steel Sector (a journal of SCOPE),Mr P.K. Singh, Chairman, Steel Authority of India Ltd (SAIL) expressed his optimism for large many employment opportunity in Steel Sector for young engineering and management graduates because of expansion plan.

Dr. U.D. Choubey, Director General, SCOPE expressed his opinion that India has unique distinction for large consumption of steel in all the sectors such as infrastructure, construction, transporting, manufacturing, plant and machinery and packaging.

 

 

FM asks captains of industry to make increased
private investment especially in infrastructure

Holds his Fourth Pre-Budget Consultative Meeting for the Union Budget 2017-18 with the representatives of Indian Trade and Industry Associations/Groups in Delhi
The Union Finance Minister Mr Arun Jaitley said that the present Government has given greater thrust on fiscal federalism and improving business environment through reforms in policies and regulation among others.
 

Thesynergyonline Economics Bureau

 

NEW DELHI, NOVEMBER 26 :
The Union Finance Minister Mr Arun Jaitley said that in the First Half of the Current Financial Year 2016-17, the Indian economy has achieved robust growth rate despite volatility and uncertainty in global economy.

He said that this was made possible by a slew of policy measures undertaken by the present Government including enhanced public investment, kick starting stalled projects, improving the status of financial inclusion significantly among others.

The Finance Minister Mr Jaitley was making the Opening Remarks during his Fourth Pre-Budget Consultative Meeting with the representatives of Indian Trade and Industry Associtions/Groups here today.

The Union Finance Minister Mr Arun Jaitley asked the representatives of Business and Trade Sector to increase the private sector spending especially in infrastructure sector. He said that the Government has taken many steps to improve governance by bringing in transparency and efficiency through systematic changes.

Mr Jaitley said that the present Government has given greater thrust on fiscal federalism and improving business environment through reforms in policies and regulation among others. Shri Jaitley said that strong macro and micro economic indicators including fiscal fundamentals and follow of fiscal discipline present sound prospects for the Indian economy in future as well.

Various suggestions were received during the Consultative Meeting.

Various suggestions were received during the aforesaid Consultative Meeting. Major recommendations include h reduction in Corporate Tax and withdrawal of tax incentives which will result in higher collections due to better compliance and will make India an attractive investment destination. Other suggestions include complete elimination or a major reduction in Minimum Alternate Tax (MAT) and higher public investment in infrastructure and social sector. Other suggestions include higher investment in irrigation and rural infrastructure sector as this will increase the spending capacity of the rural people which in turn will create demand for various items and increased economic activity. Other suggestions included focus on skill development by focussing more resources on training of trainers' Programmes. Other suggestions include tax concession to both individual tax payer and Corporate Sector. Minimum exemption limit in case of Personal Income Tax be raised to Rs.5 lakh. After demonetisation, since banks will have lot of funds, therefore, interest rate be reduced for manufacturing and other sectors especially for micro, small and medium enterprises.

Other suggestions include that States levy heavy taxes on industry especially manufacturing sector mainly in higher energy/power charges which make them uncompetitive. Another suggestion was made to make instrument of cheque more stronger especially after demonetisation by blocking the amount of cheque in the drawer's account and making amendments in Sec 138 of Negotiable Instruments Act for heavy penalty in case of bouncing of cheques. Other suggestions include measures be taken to revive private sector investment especially in infrastructure sector. Suggestion was made to give infrastructure status to Broadcasting Sector. Another suggestion was to give incentives to promote women entrepreneurs.

Along with the Finance Minister Shri Jaitley, the Pre-Budget Consultative Meeting with the representatives of Indian Industry and Trade Groups was also attended among others by Shri Ashok Lavasa, Finance Secretary, Shri Shaktikanta Das, Secretary, DEA, Dr. Hasmukh Adhia, Revenue Secretary, Ms. Anjuly Chib Duggal, Secretary, Financial Services, Ms Rita A Teotia, Secretary, Department of Commerce, Shri Ramesh Abhishek, Secretary, DIPP and Dr. Arvind Subramanian, Chief Economic Adviser (CEA).

The representatives of the Indian Trade and Industry Associations/Groups present during the meeting included Dr. Naushad Forbes, President, CII, Shri Sunil Kanoria, President, ASSOCHAM, Mr Harshavardhan Neotia, President, FICCI, Mr B.N.Kalyani, Bharat Forge, Dr. Rajani Aggarwal, Federation of Indian Women Entrepreneurs (FIWE), Mr Vipul Shah, Former Chairman, Gems &Jewellery Export Promotion Council, Mr S.C. Ralhan, President, FIEO, Mr G.M.Rao, Chairman & MD, GMR Infra, Mr Shashi Ruia, Essar Group, Mr Rajan Bharti Mittal, Vice-Chairman, Bharati Enterprises, Mr Mukesh Mohan Gupta, CIMSME, Mr Satish Pai, President, AAI and CMD,NALCO, Mr Harish Ahuja, MD, Shahi Exportys, Mr Harry Dhaul, DG,IPPAI, Mr Ashish Gupta, Consulting CEO, Federation of Associations in Indian Tourism & Hospitality (FAITH), Mr P.K. Shah, Chairman, EEPC India, Mr R.K.Sharma, Secretary General, FIMI, Mr Sunil R Zode, Chairman, ICCAA, Mr Raja M.Shanmugham,Tripur Exporters Association, Mr Om Prakash Mittal, Laghu Udyog Bharti, Mr R.Ganpati,SICCI, Mr Shailendra Chuksey,Cement Manufacturers'Association, Mr Sangam Kurade, President, Federation of Indian Micro and Small & Medium Enterprises (FISME), and Mr Girish Srivastava, Secretary General, IBF among others.

 

 

Indian luxury sector may touch $18.5 bln this year;
need to create own luxury brands: Amitabh Kant

Fall in land prices due to demonetisation will give push to luxury market  

Thesynergyonline Economics Bureau

NEW DELHI, NOVEMBER 26 :
The luxury market in India is likely to touch $18.5 billion (bn) in 2016 as against $14.7 bn last year and will clock a compounded annual growth rate (CAGR) of 25 per cent, chief executive officer (CEO) of NITI Aayog (National Institution for Transforming India), Mr Amitabh Kant said at an ASSOCHAM event held in New Delhi .

“The introduction of GST (goods and services tax) will also provide India a huge competitive advantage to India’s luxury sector,” said Mr Kant while inaugurating an ASSOCHAM Luxury Summit.

 

“My personal view is that sheer social demographics, growth of the economy, rise of the very young population all this will fuel growth and enable growth of a huge luxury market in India,” he said.

 

“We are just at the beginning of the curve and I think this market will grow and blossom in the next two-three decades,” added Mr Kant.

"The idea of luxury, even the word "luxury," was important to Arabella. Luxury meant something that was by definition overpriced, but was so nice, so lovely, in itself that you did not mind, in fact was so lovely that the expensiveness became part of the point, part of the distinction between the people who could not afford a thing and the select few who not only could, but also understood the desirability of paying so much for it. Arabella knew that there were thoughtlessly rich people who could afford everything; she didn't see herself as one of them but instead as one of an elite who both knew what money meant and could afford the things they wanted; and the knowledge of what money meant gave the drama of high prices a special piquancy. She loved expensive things because she knew what their expensiveness meant. She had a complete understanding of the signifiers." - John Lanchester, Capital

"Every luxury must be paid for, and everything is a luxury, starting with being in this world." - Cesare Pavese, Il mestiere di vivere: Diario 1935-1950

"Most of us have no sympathy with the rich idler who spends his life in pleasure without ever doing any work. But even he fulfills a function in the life of the social organism. He sets an example of luxury that awakens in the multitude a consciousness of new needs and gives industry the incentive to fulfill them." - Ludwig von Mises, Liberalism

"The surest way to work up a crusade in favor of some good cause is to promise people they will have a chance of maltreating someone. To be able to destroy with good conscience, to be able to behave badly and call your bad behavior 'righteous indignation' — this is the height of psychological luxury, the most delicious of moral treats." - Aldous Huxley, Crome Yellow

"Contemplation seems to be about the only luxury that costs nothing." - Dodie Smith, I Capture the Castle

"We must powder our wigs; that is why so many poor people have no bread." - Jean-Jacques Rousseau
 

Terming India which is growing at the rate of 7.6 per cent per annum as ‘an oasis of growth in the midst of a very-very barren economic landscape across the world,’ he said, “The challenge for India is really to grow at very high rates of 9-10 per cent per annum for three decades or more, that is the ambition, that is the hunger which India has.”

 

“We have grown at those rates for a relatively short period of 5-6 years, but we need to do this on a sustained basis for a three decade period,” further said Mr Kant.

He said that India’s luxury sector is dogged by various challenges like extremely high rents in tier I cities which has led to very diminishing space.

"For the luxury market to grow, we need to provide space at extremely low cost ….

"For the luxury market to grow, we need to provide space at extremely low cost and I think that fortunately my view is that, with demonetisation land prices will fall over a period of time and that will give a further push to the growth of luxury market," said Mr Kant.

Talking about the need for infrastructure, he said, "We need to create many more good malls to enable good quality infrastructure to come across India."

He said that while the luxury market in India together with high net-worth individuals and spend on lifestyle products will keep growing but one of the key challenges for India is that it has not been able to create its own luxury brands.

"France, Italy they have all made their own remarkable brands and it is important that India creates its own great brands in the luxury market over the years because brands give real values over a period of time," said the NITI Aayog CEO.

"I think the second key challenge if you want the luxury market to grow and expand is very important that we keep expanding the circle of growth and move from tier I to tier II and tier III cities," he added.

Mr Kant quoted the examples of 'success stories' of what automobile giants BMW and Mercedes have done and how they adapted to the Indian market by penetrating in to the tier II and tier III markets.

"Mercedes' biggest sale is in Aurangabad, BMW's biggest sale is in tier II and tier III cities, they have adapted and modified themselves to Indian markets and therefore done extremely well and that's what luxury brands have to do," he said.

He emphasised upon the need to promote love and passion for luxury brands in India. "Luxury market is essentially driven by good brands and therefore, in the long run, while high net-worth individuals will grow, a lot of wealth will get created in India, I think you need to look at this market from not a prospective of two-three years but a long term perspective of two decades market."

He also said that it is necessary to enable many of the unique designers, craftsmen to grow within India. "India also has a very large pool of skilled craftsmen, we are very skilled in producing hand-made luxury products, India has been inspiring the luxury and fashion industry for years and has been a source of inspiration for the rest of the world."

Mr Kant said that India is currently passing through a window of demographic transition which rarely happens. "72 per cent of our population is below the age of 32 and rarely has this happened in the history of the world when you have a very young population, when you pass through this window of demographic transition that the luxury market does not grow."

He also said that India is passing through exactly the same transitions which happened during the period of 1946-64 in Europe and America and the people who were born during that period are all now retiring across the world.

"This to my mind is the most important economic and social trend that is taking place across the world, the population in Europe and America is getting older, they all are retiring while the population in India is getting younger and will keep getting young till 2040 and therefore the luxury market will keep going up," said Mr Kant.

 

 

 

 

 

Best viewed at 800 x 600 resolution with IE 4.0 or higher
© Copyright 2010 : TheSynergyOnline.Com
Head Office : Thesynergyonline.com , Synergy House , 569/3, Chattarpur Hills , New Delhi-110074 (India) Tel : 09810878945 , 91 011 32440558 ; e--mail: editor@thesynergyonline.com , marketing-executive@thesynergyonline.com