NEW DELHI, June 15: Mobile commerce firm Paytm will invest Rs 150 crore in 2014 as it expands operations and reach buoyed by the growth in smartphone penetration in India.
Paytm, which started by offering mobile recharge and utility bill payments, will invest the amount in recruiting fresh talent, acquisitions, marketing and brand building.
“We will invest Rs 150 crore in expansion. The amount will be sourced through internal accruals and will be invested in this calendar year,” Paytm Founder and CEO Vijay Shekhar Sharma told PTI.
Sharma added that the firm has so far this year hired 100 people and plans to hire 300 more.
“We set a target of hiring 200 engineers, 200 sales people and a 100 engineers to meet growing demand. Of this, 100 have joined us,” he said.
Besides, freshers, the firm will also hire for middle and senior level, he added.
Paytm already has set a target of reaching a user base of 15 million by the end of this year.
“Another important investment that we are making is on marketing and brand building. Our associations like that with Pepsi for the IPL 2014, have helped increase awareness among the people about Paytm and we look forward to more such initiatives,” Sharma said.
Paytm tied up with Pepsi for a marketing campaign, which coincided with the IPL season during which it gave shopping vouchers worth up to Rs 2 lakh to lucky shoppers along with upto 200 per cent cashback on mobile recharges making it one of the biggest promo online.
“We spent about Rs 100 crore from our kitty on this campaign and looking at it now I think it was money well spent,” he added.
On acquisitions, Sharma said the company is looking at opportunities that would help increase its service offerings.
It has also introduced the Paytm cash wallet, which is a mobile prepaid payment option allowing users to add cash from their bank account or credit card.
Since it began operations, Paytm has about 8 million orders a month, while its mobile wallet is used by around six million users to pay for various services.
According to industry body IAMAI, the number of mobile Internet users is expected to touch 185 million by June 2014, accounting for about 76 per cent of the Internet user base in the country.
It also said digital commerce market stood at Rs 47,349 crore by the end of 2012 and at the end of December 2013, it grew to Rs 62,967 crore.
As per a Boston Consulting Group report, at present, about 45 per cent of online consumers in India use only their mobile devices to access the Internet and this is expected to rise to 60 per cent over the next three years. (PTI)
Paytm to invest Rs 150 cr on expansion, bullish on m-commerce
Indian kids being bullied online; parents don’t feel so:Report
NEW DELHI, June 15: With easy access to Internet and smart gadgets, a growing number of children in the country today are falling prey to cyberbullying, security software firm Symantec today said.
However, more disturbing is the fact that a majority of the parents don’t feel their child is being bullied online.
According to a report by Norton (a Symantec brand), 52 per cent of the children surveyed in India said they were victims of cybercrime and/or had online negative situation. About 18 per cent said they had been bullied online.
However, 84 per cent of the parents surveyed in the country said they did not feel that their child was being bullied online, The Norton Report: Family Edition said.
Cyberbullying refers to people using electronic communication like emailing, social networking and texting to harm others.
Interestingly, 34 per cent of children surveyed in India admitted to creating negative online experience for others.
Negative online experience refers to experience someone posting private/intimate content without permission, being approached online in an unwanted sexual way, online stalking or harassment, receiving SMS text messages from unknown people asking to click on an embedded link or receiving adult content.
“Going online is a daily affair for many of us — not just adults but children too as they tackle schoolwork and indulge in playtime on the Internet. With social media and the online world continuing to infiltrate our lives and that of children, cyberbullying remains a very real online danger due to the damaging effect on people’s mental health,” Ritesh Chopra, Country Manager (India) for Norton by Symantec told PTI.
Also, with more and more people using their mobile devices, there is more direct impact.
“Unlike offline forms of communication, these chats and messages are being digitally stored and can be forwarded to someone other than the original recipient, edited to distort the communication, and be published to different places,” he said.
Once the communication is “out there,” the person has lost control of it, Chopra added.
About 54 per cent of the girls surveyed said they were victims of cybercrime or a negative online situation.
Also, 58 per cent girls said they were bullied online during school year compared to 28 per cent boys who said they were bullied in school year.
The study, commissioned annually by Symantec, surveyed 13,022 adults (aged 18 to 64) from 24 countries this year. This includes Australia, Brazil, Canada, China, India, Italy, Japan, the UAE, the UK and the US. (PTI)
I/C Commerce Lecturers adjustment being delayed
Sir,
Sixty six (66) PG Masters/Teachers were placed as I/C Lecturers in the discipline of Commerce vide J&K State Government order No: 410-Edu of 2013 dated: 30.03.2013. However, the Directors School Education Kashmir/Jammu informed the Government that out of 66 PG Masters who were elevated as I/C Lecturers only Forty Seven (47) joined/reported in the concerned Directorate. The 19 vacant posts resulted due to non-joining of incumbents, were required to be filled up by placing the next PG Masters/Teachers as per the updated seniority list and roaster points in pursuance of SRO-294 read with SRO-144.
Therefore, in continuation of the Government order No: 410-Edu of 2013 dated 30-03-2013 and on the basis of seniority/eligibility the twenty one (21) PG Masters/Teachers were placed as I/C Lecturers in the discipline of Commerce vide Government order No: 66-Edu of 2014 dated: 16-01-2014 with the directions that the lecturers so placed shall report to the concerned Directorate of respective Divisions for their further posting/adjustment within the period of 21 days from the date of issuance of this order.
Unfortunately, after the lapse of such a long period of months together no further postings/ adjustments of the placed I/C lecturers have been made so far by the concerned elite at the helm of affairs for the reasons unknown. Resultantly, the poor students having Commerce subject or intend to opt for Commerce stream are suffering badly in the Government Higher Schools mostly in rural areas, out of total 31 are screaming silently with out commerce subject. What could be the position of J&K States as a whole one may imagine easily. The Education Department says that due to the shortage of Commerce teaching staff the Commerce stream could not be introduced in the left over schools.
But on the contrary, it is shocking enough to note that the unnecessary delays, on one pretext or another, are committed by the Government when the time comes to fill up the vacancies. The long delays in the instant case raise one’s eye brows. It is a glaring example of the Government’s non-serious and un-caring attitude towards the sacred education sector. The elevated I/C Commerce lecturers as well as innocent students are left to suffer due to no fault of theirs. The pathetic attitude of the ruling class has to be shunned forthwith.
Yours etc…
Swatantra Dev Kotwal
(Advocate) Udhampur
Problem of senior citizens
Sir,
Senior citizens are repository of knowledge. A society which does not honour and give due regards to its Senior Citizens is not a civilized society.
The retired employees or pensioners of today were active employees of yesterday and similarly, the active employees of today shall become Pensioners of tomorrow.According to a survey, India will hav e about 200 million personnel 60 plus by 2030 and roughly 326 million 60 plus by 2050, i,e app. 21 % of Indian Population. The biggest problem of the aged India is the Social Vaccum, which is created due to generation gap and also the changing values amonst the young which gives birth to mental Isolation and sometimes depression for the senior citizens. Nuclear families replacing Joint Family systems is another handicap for the old people to survive in a congenial atmosphere.
There is a great disparity between old people living in Villages and peole living in cities, between pensioners and non pensioners. Those who depend on their children or relatives for their survival are sometimes the worst victims of humiliation and nutritional deficiencies. It is because of this generation gap and also of the changing values amongst the young that they face difficulty in interacting with their own kith and kin,which at times gives birth to mental Isolation or depression. They feel worthless in the very world they have created themselves.But once an emplyee retires from service,he is deprived of his genuine rights and is considered by few a burden on govt exchequere.
To avoid this the Govt is requested to target certain measures such as;
Access to healthcarewithout discrimination of age, caste, Gender with spl instructions in Distt Hospitals for elderly people.
Facilities of better Old Age Homes for needy and Single Senior Citizens.Presently there are about 3000 Old Age homes in the country and according to the New Act, each District needs to be provided with a good Old Age Home with latest facilities.
Govt and Corporate sector should utilize their experiencein implementing various schemes and projects,a concept of part time employment needs to be introduced.
Facilities in public transport, railways and air services need to be enhanced.
The physical security check of the elderly people living all alone,needs to be verified and checked frequently by the Police authorities. Implementation of Maintenance and Wefare of Parents and Senior Citizens Act 2007
Yours etc….
S.C. Rekhi
Jammu
Meaningful Budget Scrap trivial programmes
Shivaji Sarkar
The nation is looking towards mid-July, when the Union Budget is to be presented in a fresh package. It eagerly awaits the new product. Undeniably, it will be the Narendra Modi Government for achieving the miracle of revival within the limited available resources, burden of carrying out populist impractical programmes and reallocating finances at a time when it would not be in a position to increase taxes.
The country needs $5 trillion investments during 2014-20. It is a large sum, which the Government cannot raise through normal resource mobilization. The Government cannot expect all of it to come from foreign direct investment (FDI). It has to spend itself a lot for creating the infrastructure, putting the books in order for departments such as Railways and other public sector undertakings.
It has to contend with Rs 77,000 crore less realization on revenues indicated in the UPA’s interim budget of Rs 17,63,214 crore. The UPA cut allocation on education, health, water supply, sanitation, food security, renewable energy, women and child welfare, social security, rural and urban development. Even the actual Plan expenditure in 2013-14 was slashed to Rs 4.75 lakh crore from the allocated Rs 5.55 lakh crore by cutting infra expenses. The revenue generation projected by the previous Finance Minister P Chidambaram would be almost 17.4 per cent less.
Additionally, it also has to infuse Rs 11009 crore capital in public sector banks hit by NPAs of Rs 2.44 lakh crore. Further, it also has to look to pay the Government employees more by 2016, when the Seventh pay panel report is expected.
Indeed, the Modi Government has to function on razor’s edge. Chidambaram has limited the leeway. Converting “scam to skill” India, as the Prime Minister said in his maiden speech in the Lok Sabha, is an arduous task.
The Government has to look for increased support to agriculture, may be in terms of direct subsidies to the farmers, boost manufacturing, increase industrial production, check prices, create jobs and eliminate corruption, provide houses to all, spend on skill development, clean Ganga and create a new urban India – the promises made in the BJP manifesto as well as the presidential address.
It is an agenda for revival but everyone would look at Modi and his Finance Minister Arun Jaitley to accomplish this feat. All of it requires resources. But these have been frittered away by the UPA Government on unproductive populist measures such as MNREGA and the Food Security Bill. The two programmes are symptomatic of the failure of the previous Government on providing jobs to the people and inability to curb whopping food prices. The two programmes cost the Government Rs 1.58 lakh crore a year as per budgetary statements. The plan panel points to ghost beneficiaries in each of these programmes.
Another biggest scam had been the unique identity card called UID or Aadhar. The UID, a baby of the Planning Commission, has been termed as a “corporate scam”, a term used by writer and activist Arundhati Roy. She says it funnels billions into the IT sector hit by the US and European recession. Nandan Nilakeni had been shoving an illegal Aadhar card in the name of empowering the poor.
The cost benefit analysis done by National Institute of Public Finance and Policy at the behest of the Planning Commission found that it has costs beyond the actual programme, almost at every level of governance. The bio-metric tools have to be replaced every three years. It notes that a series of anomalies have been reported by various State-level audits in eight States. The Government itself has allocated Rs 14232 crore for UID in 2013-14 and every year there is an incremental increase without any benefit to the people.
The Modi Government has rightly sounded that it wants to scrap this white ant – that nibbles into every programme without a tangible result, according to the NIPFP. On the face of it, scrapping the programme, which so far has covered 57 crore people but has not issued card to most of them, would save at least Rs 25,000 crore a year.
Further, it can also look at leasing out Air India, which has been draining public finances to at least Rs 5000 crore a year, for keeping it flying and if debt burden and cost to fleecing bureaucrats are included it would almost be double. Leasing it out would save outgo and may even fetch a good lease fee every year. With increased competition, Air India has little chance to survive otherwise.
The NDA Government has also to scrap programmes such as the four-year degree as introduced by Delhi University. It is a drain on resources of both the Government and individual citizens, given as that the worldwide trend now is to clearly reduce the term of education. More a child spends for education more is a burden on the society. The HRD Ministry has to tailor out compact short-term high utility programmes. The longer terms spent in the universities do not equip the children better. Mere setting up new universities, IITs and IIMs is not the solution.
There are many Government organizations, which have outlived their lives. At the same time there are many which require a little push to make these useful tools. The State police force and bureaucracy has lost their credibility. The Government needs to take steps to reform policing in real terms. It should become a friend from an organized gang of criminals. It does not require much funding. It needs new administrative approach.
The programmes such as housing have become expensive with speculative private funding. It would not require much Government funding but it would require honest Government intervention.
Food prices have not yet moderated. The Government has rightly taken the first step to stop food grain exports by the Food Corporation of India (FCI). It should have to be turned into a market intervention agency to keep prices in check. The commodity exchange market operators did not allow the UPA Government to do that. Thus, the FCI has to be entrusted a new role.
The country hopes to become a super power, but the last dispensation has created a situation that makes survival difficult. The Budget has to deliver a lot for rebuilding the country.INFA
Personal Accountability
Dr Bharat Jhunjhunwala
The law and order situation in Uttar Pradesh is fast deteriorating. Heinous acts such as hanging rape victims have become commonplace. The question is whether the Chief Minister is responsible for the failure of the police to prevent such acts. I remember Late Lal Bahadur Shastri having resigned as Minister of Railways taking personal responsibility for a rail accident. The underlying principle is that the way an organization works carries the stamp of the philosophy of head of that institution. The junior officials imbibe the attitude of-, and follow the path shown by the head. A rail accident will occur only when the Minister of Railways puts security on the backburner and focuses more on making profits or punctuality.
The principle of personal accountability of the head of an organization was upheld recently by the Supreme Court. The Court refused to quash a FIR lodged by an Indian Company against Mr. Lee Hun Ki, CEO of Korean major Samsung Electronics. The Indian Company has supplied some material to the Dubai branch of Samsung. Thereafter a fraud was discovered at the Dubai office of Samsung and some officials were sent to jail by Dubai courts. Yet, payment to the Indian Company was not made and the Indian supplier filed a case of cheating against Mr. Ki in Ghaziabad. The Ghaziabad court asked Mr. Ki to be present in person as required under Indian law. Samsung, however, applied to the High Court to quash the FIR. The High Court turned down the request and asked Mr. Ki to appear before the Ghaziabad court. In the result Mr. Ki, the richest man of Korea, was required to appear before the Ghaziabad court. It is another matter that Mr Ki has not yet appeared before the Ghaziabad court.
Similar treatment was meted out by the Apex Court to Subrata Roy of Sahara. Sahara had collected about Rs 25k crores from people for a housing project. The offer was through convertible debentures. Our share market regulator SEBI held that this was illegal since Sahara had not taken permission before issuing such debentures. The Supreme Court directed Sahara to refund the money and, Sahara failing to do so, CEO Subrata Roy was sent to jail.
There appear to exist an international consensus that CEOs must be held responsible for the doings of their Companies. This approach led to Mr. Kenneth Lay, CEO of the multi-billion dollar oil major Enron being sent to jail a few years ago. The Company was involved in large scale trading in oil. There CEO subjected the staff to intense pressure to earn profits. At the same time he was lax in transparency and accounting diligence. This led to young and aggressive executives entering into risky trades and making huge losses. These losses, however, were not disclosed to the auditors, staff, authorities and the shareholders. Ultimately, the Company sank under its burden of debt and was declared bankrupt. Mr. Lay was jailed for not taking proactive steps to disclose the losses in due time. Profs O. C. Ferrell and Linda Ferrell of University of New Mexico wrote: “There appears to be agreement among public policy decision makers, the judicial system, and other stakeholders that CEOs are responsible and accountable for decisions or their complacency related to the ethical and legal performance of the corporation.”
The tragedy at Uttarakhand last year is yet another case where such accountability of the politicians, officials of the government and CEOs of hydropower companies must be sought-but has not be done yet. The Tehri Hydro Development Corporation has built a huge reservoir. Huge evaporation took place from this reservoir in the hot month of June. This vapour condensed at Kedarnath and came down in form of a cloudburst. The mountains in the area had been weakened by repeated explosions undertaken for road construction and for making tunnels for hydropower projects on the Mandakini River. As a result the topsoil on the fragile hills was loosened. Previously the rainwater would seep into the hills taking cue from the roots of the trees. After getting loosened, the soil could not withstand the heavy downpour and started sliding into the river. It uprooted the threes and carried them into the river. The problem was compounded by muck disposal by the hydropower companies on the riverbanks. They did not make strong walls to prevent the muck from flowing into the river. The muck was set loose. The river started to carry the soil loosened from the hills, the tree flowing in with the soil and the muck deposited by hydropower companies but it faced an obstruction in form of barrages built by the Phata-Byung and Singoli-Bhatwari hydropower projects. The river would have carried these sediments to the plains had there been no obstruction. But the barrages prevented her from performing this natural function. Remember the entire Gangetic plain from Haridwar to Ganga Sagar has been made by such carrying of sediments by the Ganga and her tributaries. The muck got accumulated behind these barrages leading to the river cutting the hills on the side and forming a new path. The river flowed in a zigzag manner in the new path and scoured the villages located on her banks leading to thousand losing their homes. Entire villages like Chandrapuri were swept away. Ten thousand people lost their lives because the politicians like Atal Bihari Vajpayee pushed the construction of Tehri Dam without requiring a proper environmental assessment to be made; courts were led by the public consensus in favour of increased generation of electricity at any cost; and officials looking the other way when local people had pointed out these impending dangers during Public Hearings for granting of environment clearance to these projects. The CEOs of hydropower companies too did not care to follow even the limited directions to dispose the muck properly.
The underlying issue is that of philosophy of the head of an institution. Single minded focus on political expediency on part of politicians; keeping the Ministers happy on part of officials; and profits by CEOs of the hydropower companies has led to various problems like rail accidents, Uttarakhand disaster and rape victims being hanged in UP with impunity. These problems are all logical outcomes of the philosophy of the head. Lal Bahadur Shastri, Lee Hun Ki or Atal Bihari Vajpayee were not personally involved in the rail accidents, non-payment of dues to a supplier and the increased evaporation from Tehri Reservoir. Yet the philosophy they espoused led to these happenings. It is correct, therefore, for the Chief Minister to be held responsible for the rape and hanging of women in UP.
(The author was formerly Professor of Economics at IIM Bengaluru)
horoscope
Monday June 16-2014
Aries : You will be very logical and rational today, as creativity is put on the back-burner. The situation at your workplace will be full of challenges, but you will take them head-on. Later, all the stress will be mitigated by the soothing touch of your loved ones, says Ganesha.
Taurus : This day, you can’t afford to take chances with your health, says Ganesha. If there is the least sign or symptom of illness, go consult a doctor straight away. As you are going to be unusually prone to injuries and infections, it is advisable that you stay at home. Over exertion is bound to weaken you and affect your physical condition. If physical work is unavoidable, stick to light and effortless things.
Gemini : An occurrence from the past will become a cause of worry for you today. You will also be concerned owing to the deteriorating health of the elders in your family. You will encounter medical expenses. The later half of the day should see your worries abate somewhat, says Ganesha.
Cancer : The mundane will bring contentment to you today, and you will rather spend the day doing routine stuff. It looks set to be an ordinary day, but then you can always find thrill even in routine activities. Work will keep you on your toes through the day, but then as the day drags ahead, you may feel a tab bored. Ganesha hopes that by evening you will get a hint that tomorrow is going to be more interesting.
Leo : Decisions taken in haste will prove to be harmful. You need to carefully weigh the pros and cons of every decision that you take today, considering all the possible alternative thoroughly. You need to be extremely industrious on the work-front as well. You will feel very energetic and raring to go. However, you will run out of energy at the end of the day, says Ganesha.
Virgo : You will find your banal day-to-day routine work to be very irritating today, says Ganesha. Avoid the tendency to exaggerate things out of proportion. You will not, however, let anything impact on your enthusiasm to work. You will do something novel to win the appreciation of people.
Libra : Ganesha says governmental work will be beneficial today. Those of you who are officials in the government will be having a positive and good day ahead. Your family members will show their support for you and this is something that you will need from them. Children will progress in life. This is a good time to take important decisions.
Scorpio : It’s business time and shock your competitors with the launch of the new product. However, stars are not aligned in a favourable way, which indicates that you may come across some hurdles. Take your time, sort out the troubles and go ahead with your launch with much fanfare and celebrations
Sagittarius : You have the knack of cut those troubles into small slices and gobble it up. You are the one who would not run away from problems, but face it. Good news from far away land may please you and make your day!
Capricorn : For you everything is fair in love and war, and you utilise every possible means to achieve your targets. You have a strong sixth sense and it will direct you while making the right decisions, feels Ganesha. You are a soft hearted person and it makes you sad to see others in sadness and trouble. Instinctively, you will help those in need.
Aquarius : The cupid may strike you today. You don’t want make a wrong first impression, so wear something nice and be presentable all the time. Professionally, the day will be favourable for you to make some important decisions. Overall, you are in a happy mood and you will spread the joy around, feels Ganesha.
Pisces : You will delay taking important decisions in the office or regarding business. You will take you time to come to a conclusion and put in all the required thought and this will grant you clarity on all the issues at hand. While this will be great for you, Ganesha advises you not to make hasty decisions regarding your personal life.
Indo-China convergences Entering positive phase
Prof Arvind Kumar
The brief visit of Chinese Foreign Minister Wang Yi as a Special Envoy of President Xi Jinping to India has symbolically sent a message to the rest of the world that India and China might work together in leading the world affairs. The centre of gravity is being shifted from West to East and in that shift both India and China will have a significant role to play in the international system.
The visit of Wang Yi has generated a good amount of debate among members of both the academic and strategic community. Some have argued that it was an ice-breaking move on part of Beijing and it obviously wanted to establish contacts with the new Government as soon as possible. Others have doubted China’s rhetoric on India and it has been suggested that Beijing has to be consistent in its rhetoric and action as far as New Delhi is concerned. The skeptics have indicated that it is not a time for India to celebrate unless and until the most vexing issue of the border row is addressed.
India’s foreign policy in the new regime largely is going to be predicated on its evolving contours of commercial and economic interests and a proactive economic diplomacy will overcome the larger predicament of political differences. The economic interdependence, which is the key in this globalized world, will keep all the bilateral differences and animosities away. It is certain that no nation can afford to jeopardise the economic opportunities that will mostly come from closer engagement between India and China.
There will certainly be a paradigm shift in the approaches of both the countries while handling the sensitive issues such as China’s incursions across the Line of Actual Control. On the one hand, there is an acknowledgement on part of the policy community in India that China is emerging as an expansionist power but on the other hand there seems to be a dominant view that China cannot afford to be insensitive on many counts.
Further, there is a growing realization in Beijing that India can contribute significantly in a number of areas including countering terrorism. Foreign Minister Wang’s assertion that both the nations are “natural partners” reflects the larger change in the mindset and also willingness to create a positive atmosphere in the bilateral relationship. China’s top leadership has also conveyed a positive determination to improve the bilateral understanding in a remarkable manner. It was reflected in the message from the Chinese President, which had all the praise for Prime Minister Narendra Modi and stated: “under your leadership, India will achieve greater development and progress.” Undoubtedly, China seems to be all set to work with decisive leaders and strong governments like India has in the current situation.
Wang’s visit has also epitomized the importance, which China has attached to India. It should be emphasized here that such a visit has been preceded by the forthcoming US-India-Japan trilateral meet scheduled in July 2014. The high-level interaction on pertinent important themes has reiterated the keenness from both sides for constructive engagement.
New Delhi is keen to narrow the vast trade deficit of $31 billion with China. The mechanism needs to be explored especially in bridging the yawning trade gap. Both the countries have set the goal of realizing $100 billion bilateral trade by 2015, which seems to be highly ambitious. How the augmentation of the current figure of $ 65 billion will take place remains a big question.
China’s growing challenges warrant them to deepen counter-terrorism cooperation with India. It will be in mutual interest and hence both Beijing and New Delhi have committed to work together on this issue of gravest danger. Such bilateral cooperation in counter terrorism area will certainly boost trust and confidence. The future of strategic partnership between India and China very much depends upon the cooperation in the field of intelligence sharing under the parameters of the counter-terrorism efforts.
Importantly, China and India, both being victims of terrorism, share common interests and to a larger extent confront common challenges in counter-terrorism. The two sides have been cooperating on a number of areas relating to the terrorism-related issues, including policy exchange and joint exercises. However, this is not enough. They need to intensify the larger framework of cooperation with a focus on technology sharing.
In particular, it was highlighted by Wang that the boundary issue will remain a complex one and both would require to have a strong will and resolve mainly to find a solution acceptable to each other. However, the lack of a solution to this vexing problem should not impede the progress in other areas of convergences. Both the nations need to continue with dialogue and manage differences.
The Border Defence Cooperation Agreement signed in 2013 was an indication of the seriousness and willingness to chart out the solution. Such an agreement will help increase direct engagement and mutual trust between the Chinese and Indian border troops. It will be in the interest of both the nations especially in maintaining peace and tranquility.
From India’s perspective, there is no doubt in saying that political consensus exists in building and maintaining close ties with China. The views become divided when Beijing does not keep up with the expectations. The Chinese incursions across the Line of Actual Control have been the major area of concerns.
There is, however, need for both India and China to work together in the emerging international system. If the two cooperate, then, both can really drive the larger agenda for the global community. Bilateral cooperation in a number of areas in International forums, including G20, IMF and the World Bank, in the context of the financial crisis was perceived as an important change in the approach. The future of India-China relations will be mostly dependent on their behavioural patterns and guided by mutual economic and commercial interests. Undoubtedly, both the nations together have a huge responsibility to provide the alternate mechanism to the international financial institutions, which can address to the needs of the developing countries.
The emerging new phase of India-China relations seems to be in the interests of the international community. It will usher into a new era full of positive contours and assume the responsibilities of leading world affairs. INFA
Deliberate withholding funds
Instance after instance can be cited in respect of Government’s decision to put off transfer of funds provided under various Centrally sponsored schemes and project to prop destination. Nobody knows the exact reason for this unexpected and irregular practice of the State Government. Funds are meant to float the projects and projects are conceptualized to raise standard of living of people in rural as well as urban areas. The instance under consideration is Pradhan Mantri Gram Sadak Yojana (PMGSY) under which Union Ministry of Rural Development has sanctioned grant-in-aid of Rs 180.86 crore for the current financial year. This is a national programme of immense importance because India in reality lives in villages. The project was devised to development and extensive connectivity in rural India so that brisk movement of men and material was possible. Consequently, the ambit of the project or Yojna was extended to the J&K State also as is the usual practice with all Centrally sponsored projects, The Union Ministry of Rural Department sanctioned and transferred 180.86 crore rupees to the State Finance Department with explicit advice that the amount had to be transferred to the Jammu and Kashmir State Rural Roads Development Agency (JKSRRDA) within three days from the date of receipt of the funds. However, the State Finance Department instead of strictly following the instructions of the Union Government failed to transfer the funds for more that 45 days. Exasperated with this attitude of the Finance Department, the Joint Secretary of the Union Ministry of Rural Development had no choice but to write to the Chief Secretary to get the funds transferred to proper quarters. Despite intervention of the Union Government, the Finance Department has almost very reluctantly released only 55 per cent of the allocated funds to the recipients. The reason for piecemeal release is a mystery.
There is every apprehension that the sum might have been transferred to some other head which is disallowed and would mean infringement of rules. The Finance Department is not forthcoming with any explanation for deferring the payment or making only part payment. We have said that this is a new culture that has developed with the State administrative structure. More often than not, the State Departments, when receiving any new project along with funds and guidelines begin to make their own interpretations of the guidelines as suits them.
We have often said that a culture of slackness has overtaken the State administration and inertia of sorts has seeped in. Not completing any Central project within stipulated time frame is one problem but more than those not releasing funds in time is much worse a practice totally unacceptable. Hundreds of labourers, contractors, suppliers, and auxiliary staff are deployed on these projects but no release of funds is a cruel move to starve those who are building the nation. If the labourers who work in the day and expect wages to be paid to them at the end of the day’s work do not get their wages, it is cruelty and tyranny. It is to force his family go to bed without dinner. The very purpose of the scheme stands defeated. Obviously, the Union Ministry of Rural Development has taken very serious note of slackness on the part of the State Department. If it stops funding or release of instalments for the reason that the state fails to implement the scheme, it will be justified. But the ultimate loss is of the people of the State.
As transfer of funds of Centrally sponsored schemes to other heads is disallowed and as invariably the State Government fails to keep the time schedule for completion of projects, we had suggested that a committee be constituted of State and Central representatives from Finance, Planning and General Administration Departments to discuss the reasons why the State fails to implement Central schemes in toto and what should be the remedial measures to pull it out of the mess. Stopping the grants by way of punitive punishment is not the right way of overcoming the hurdle. The findings of the committee could become a model for all other departments which are required from time to time to implement Centrally sponsored schemes of development.
India likely to have over 500 mn data users by 2018 fiscal
NEW DELHI, June 15: Driven by falling handset prices and rise in smartphone penetration, data subscribers in India are likely to grow an average 25 per cent every year to reach 519 million by 2018 fiscal, a report by Morgan Stanley said.
In its report on India’s telecom sector, Morgan Stanley said it believes Internet users will rise to 330 million in 2016 financial year, driven by falling handset costs, higher smartphone penetration, faster bandwidth and higher Internet content or online services.
“By FY2018, we expect data subscribers to grow at a 25 per cent CAGR (compound average growth rate), from 210 million to 519 million and see a 35 per cent CAGR in data usage to750 MB per subscriber, near the Asian average,” the report said.
The report said over the last two years, smartphone prices in the country have come down from USD 200 to USD 50.
As per telecom regulator Trai’s data, total Internet subscribers in the country at the end of September 2013 stood at 210 million.
Of those, 188 million (90 per cent users) access it on mobile devices. Of the rest, 7 million were narrowband subscribers (with speed less than 256kpbs) and 15 million were broadband subscribers (with speed of over 256kbps).
“Data is the next growth leg. We expect data contribution to more than double to 23 per cent of overall revenues (as against 10 per cent currently) in the next two years,” the report said.
The report said data growth will be driven by operator strategy of lower average revenue per mega byte (ARMB) for higher MB pack and operators having a strong data ecosystem, including strengthening spectrum portfolio.
“A 3G, 2GB pack in January 2013 cost Rs 750 or 38 paisa ARMB. Today a 2GB pack costs Rs 450 or 23-paisa ARMB,” the report said.
Morgan Stanley said voice and data rates are the lowest for Indian operators as compared to Asian counterparts and the difference between voice rate per minute and data rate per MB is not significant.
“Thus, the risk of data cannibalising voice is very low. Our case study on over the top (OTT) applications like WhatsApp and Skype indicates exponential rise in data volumes despite compression,” it added. (PTI)