February 18 to February 22, 2013    
Economy Newsletter

Union Budget 2013-14: FM’s Math worked; will the Economy follow suit?

As promised, the Finance Minister has confined the fiscal deficit to 5.2 per cent in FY13 and as expected, this arithmetic achievement is in line with his topmost agenda of averting a country rating downgrade. This transient appeasement of rating agencies, however, is the result of substantial Plan expenditure cuts across ministries in the last few months, a by-product of which is slower GDP growth in H2 FY13. No wonder, the Q3 FY13 GDP growth figure just released stands at a dismal 4.5%. While many of our expectations were met (read our pre-Budget note), one can’t help feel that the Budget has missed out on several counts. For one, it failed to address the problem of the Current Account Deficit, which admittedly was a bigger worry for the FM compared to fiscal deficit. Secondly, the FM’s steps to encourage financial savings left a lot to be desired. In times of falling savings rate, the need was a substantial increase to Section 80C. This would have also made gold relatively unattractive. Instead, he’s only offered an additional interest deduction up to Rs1 lac for those first-time home loan takers up to Rs25 lacs, besides Rs2,000 tax credit to income brackets up to Rs5 lacs. Not much was done for equity investments either. Rather than simplifying the Rajiv Gandhi Equity Savings Scheme (RGESS) for the debutante retail investor community, he’s merely increased the investment amount and time under the said scheme. Sure, Securities Transaction Tax was reduced but was accompanied by introduction of Commodity Transaction Tax.

Further, the FM’s blind eye to expenditure cuts has justifiably not gone well with the market. The FM projects total expenditure to rise by 16.4% yoy in FY14 (compared to 9.7% in FY13) which means he’s banking on higher tax revenues and asset sales to achieve the fiscal deficit of 4.8%. Through this ambitious stance, obviously the result of political pressure from his government ahead of the forthcoming general elections, he’s only risked a slippage in the said fiscal deficit target. A more credible strategy would have been to keep non-Plan expenditure under check. It is also interesting to note that the non-Plan expenditure is most likely to balloon on account of under-reported subsidies. The target of a 10.3% yoy fall in subsidies looks far-fetched in a pre-election year. The assumed drop in petroleum subsidy depends on wishful eventualities – crude oil price levels remain unchanged, INR doesn’t depreciate and gradual diesel prices deregulation continues. Despite the imminent implementation of the food security bill, the government has budgeted for a mere Rs100bn increase in food subsidy. Furthermore, rise in diesel will inflate food costs, procurement will be higher in the election year and minimum support prices can go up as well. Assumption on flat fertiliser subsidy also looks unrealistic and prone to slippage especially in the event of good monsoons...Read More 

Highlights of the Union Budget 2013-14

Finance Minister P Chidambaram is presenting the Union Budget 2013-14 in the Lok Sabha.

  1. The Union Budget for 2013-14 aims at higher growth rate leading to inclusive and sustainable development as ‘mool mantra’.
  2. Finance Minister makes three promises: to women, youth and the poor.
  3. Nirbhaya Fund to empower women and to keep them safe and secure.
  4. Proposal to set up India’s first Women’s Bank as a public sector bank.
  5. Rs. 1,000 crore for skill development of ten lakh youth to enhance their employability and productivity.
  6. Direct Benefit Transfer (DBT) Scheme to be rolled out throughout the country during the term of UPA Government.
  7. Fiscal Deficit for 2013-14 is pegged at 4.8% of GDP. The Revenue Deficit will be 3.3% for the same period.
  8. Plan Expenditure placed at Rs. 5,55,322 crore. It is 33.3% of the total expenditure while Non Plan Expenditure is estimated at Rs. 11,09,975 crore. The plan expenditure in 2013-14 will be 29.4% more than the RE of the current year i.e. 2012-13.
  9. Substantial rise in allocation to the social sector. Allocation for Rural Development Ministry raised by 46% to Rs. 80,194 crore.
  10. The target for farm credit for 2013-14 has been set at Rs. 7,00,000 crore against Rs. 5,75,000 crore during the current year.
  11. Rs. 10,000 crore earmarked for National Food Security towards the incremental cost.
  12. Education gets Rs. 65,867 crore, an increase of 17% over RE for 2012-13.
  13. ICDS gets Rs. 17,700 crore. This is 11.7% more than the current year.
  14. Drinking water and sanitation will receive Rs. 15,260 crore. Rs. 1,400 crore is being provided for setting up water purification plants to cover arsenic and fluoride affected rural areas.
  15. Health and Family Welfare Ministry has been allotted Rs. 37,330 crore. National Health Mission will get Rs. 21,239 crore which represents 24.3% over the RE.
  16. The Jawaharlal Nehru National Urban Renewal Mission (JNNURM) will receive Rs. 14,873 crore as against RE of Rs. 7,383 crore in the current year.
  17. Defence has been allocated Rs. 2,03,672 crore.
  18. Rs. 3,511 crore have been earmarked to Minority Affairs Ministry, 60% higher than RE for 2012-13.
  19. The Government will encourage Infrastructure Debt Fund (IDF) and allow some institutions to raise tax free bonds upto Rs. 50,000 crore which is 100% more than the current year.
  20. India Infrastructure Finance Corporation (IIFC), in partnership with ADB will help infrastructure companies to access bond market to tap long term funds.
  21. Income limit under Rajiv Gandhi Equity Savings Scheme (RGESS) will be raised from Rs. 10 lakh to Rs. 12 lakh.
  22. First home loan from a bank or housing finance corporation upto Rs. 25 lakh entitled to additional deduction of interest upto Rs. 1 lakh.
  23. Proposal to launch Inflation Indexed Bonds or Inflation Indexed National Security Certificates to protect savings from inflation.
  24. On oil and gas exploration policy, the Budget proposes to move from the present profit sharing mechanism to revenue sharing. Natural gas pricing policy will be reviewed.
  25. On coal, the Budget proposes adoption of a policy of pooled pricing.
  26. Benefits or preferences enjoyed by MSME to continue upto three years after they grow out of this category.
  27. Refinancing capacity of SIDBI raised to Rs. 10,000 crore.
  28. Technology Upgradation Fund Scheme (TUFS) for textile to continue in 12th Plan with an investment target of Rs. 1,51,000 crore.
  29. Rs. 14,000 crore will be provided to public sector banks for capital infusion in 2013-14.
  30. A grant of Rs. 100 crore each has been made to 4 institutions of excellence including Aligarh Muslim University, Banaras Hindu University, Tata Institute of Social Sciences, Guwahati and Indian National Trust for Art and Cultural Heritage (INTACH).
  31. New taxes to yield Rs. 18,000 crore.
  32. A surcharge of 10% on persons (other than companies) whose taxable income exceeds Rs.1 crore have been levied.
  33. Tobacco products, SUVs and Mobile Phones to cost more.
  34. Relief of Rs. 2000 for the tax payers in the first bracket of 2 to 5 lakhs.
  35. ‘Voluntary Compliance Encouragement Scheme’ launched for recovering service tax dues.
  36. Rs. 9,000 crore earmarked as the first installment of balance of CST compensations to different States/UTs...Read More

The brief summary of Union Budget 2013-14

Union budget: Fiscal Deficit, Current Account Deficit and Inflation

Union budget outlines key challenges for the economy

Basel III - Banks to be infused with Rs.14,000 Crore capital

What are the major allocations in Union Budget?

Chidambaram's budget speech

Madam Speaker,

I rise to present the Budget for the year 2013-14.

I recall my last tenure as Finance Minister and acknowledge with gratitude the splendid support that I received from all sections of the House as well as the people of India. Today, more than ever, I seek the same support as we navigate the Indian economy through a crisis that has enveloped the whole world and spared none.

I intend to keep my speech simple, straight forward and reasonably short.


I shall begin by setting the context. Global economic growth slowed from 3.9 percent in 2011 to 3.2 percent in 2012. India is part of the global economy: our exports and imports amount to 43 percent of GDP and two-way external sector transactions have risen to 108 percent of GDP. We are not unaffected by what happens in the rest of the world and our economy too has slowed after 2010-11. In the current year, the CSO has estimated growth at 5 percent while the RBI has estimated growth at 5.5 percent. Whatever may be the final estimate, it will be below India’s potential growth rate of 8 percent. Getting back to that growth rate is the challenge that faces the country.

Let me say, however, there is no reason for gloom or pessimism. Even now, of the large countries of the world, only China and Indonesia are growing faster than India in 2012-13. And in 2013-14, if we grow at the rate projected by many forecasters, only China will grow faster than India. Between 2004 and 2008, and again in 2009-10 and 2010-11, the growth rate was over 8 percent and, in fact, crossed 9 percent in four of those six years. The average for the 11th Plan period, entirely under the UPA Government, was 8 percent, the highest ever in any Plan period. Achieving high growth, therefore, is not a novelty or beyond our capacity. We have done it before and we can do it again.

I acknowledge that the Indian economy is challenged, but I am absolutely confident that, with your cooperation, we will get out of the trough and get on to the high growth path. I shall now outline our plans and priorities.

Our goal is ‘higher growth leading to inclusive and sustainable development’. That is the mool mantra...Read Entire Speech

FIIs to participate in currency derivative segment: FM

FM says growth should be sustainable

No change in the normal rates of Excise Duty and Service Tax

Union budget: Industrial Corridors, Leh-Kargil Transmission Line, Ports and National Waterways

"What we will become depends on us":  FM quotes Tiruvalluvar and Vivekananda

Union Budget: What’s in for aam janata

Finance Minister P Chidambaram unveiled the Union Budget 2013-14 in Parliament today. While the 1 hour and 45 minute speech highlighting the expenditures and revenues was a massive task, we cut through the business jargon to help you understand in simple terms what the Budget has for you.

Income slabs remain same

Income tax slabs have been left untouched this year in view of the objective of widening tax base and increasing tax compliance. The income tax slabs remain the same as FY12-13. The same tax slab rates for taxpayers this year, implies zero savings as far as the basic payment of income tax is concerned.

The prices of commodities have been rising constantly but there has been no rise in the income tax slab. Real tax payers are the salaried class and the middle class people. An increase in the tax slab would have at least mitigated their hardships and benefitted them.

However, tax relief of Rs. 2,000 tax credit has been given to individuals with income between Rs. 2 lakh to Rs. 5 lakh. About 1.8 crore tax payers are expected to benefit to the value of Rs. 3,600 crore because of this announcement. However, the amount of Rs. 2,000 tax credit is almost negligible considering the very high inflation.

On the other hand, a surcharge of 10% has been imposed on the super-rich with annual incomes of Rs. 1 crore or more per annum. The surcharge will cover individuals, HUFs, firms and all entities with similar tax status and would be valid for FY13-14 only. Surcharge of 10% on super-rich is not going to affect large numbers as only 42,800 persons in the whole country admitted to a taxable income of exceeding Rs. 1 crore per year. However, it will add substantial amount to the government revenues.

Education Cess & Tax free bonds

Education cess for all tax payers would continue at 3%. But tax-free infrastructure bonds of Rs. 50,000 crore would be allowed to be disbursed in 2013-14.

Tax-free bonds are secured, redeemable, non-convertible debentures issued by government entities to individuals and institutional investors to mobilize funds needed for projects in the infrastructure development sector. The Budget announced the intention to introduce inflation-indexed bonds or certificates. The details of these financial instruments will be announced later...Read More

Union budget: Oil and Gas, Power, Micro,

Small and Medium Enterprises and Textiles

Union budget: National Livestock Mission, Food Security, Investment, Infrastructure and Industry

Union budget: Tax

Union budget: Foreign Trade, Financial Sector, Environment and Other Proposals

Union budget: Rural Development

Union budget: Drinking Water

Union budget: SC, ST, Minorities, Disabled Persons Women and Children

FY13 Q3 GDP grows at decade low of 4.5%

The Central Statistics Office (CSO), Ministry of Statistics and Programme Implementation has released the estimates of Gross Domestic Product (GDP) for the third quarter (October-December) Q3 of 2012-13, both at constant (2004-05) and current prices, alongwith the corresponding quarterly estimates of Expenditure components of the GDP. The details of the estimates are presented below.


At constant (2004-05) prices

Quarterly GDP at factor cost at constant (2004-05) prices for Q3 of 2012-13 is estimated at Rs. 14,11,594 crore, as against Rs. 13,51,252 crore in Q3 of 2011-12, showing a growth rate of 4.5 per cent over the corresponding quarter of previous year. Quarterly estimates and growth rates of 2011-12 have undergone revision on account of revision in annual estimates of 2010-11 and 2011-12. The revision in annual estimate of 2010-11 is mainly on account of using ASI data for 2010-11 and the new series of IIP for 2011-12 in the manufacturing sector. These changes have also resulted in changes in estimates of ‘trade, hotels and restaurants’ sector. The economic activities which registered significant growth in Q3 of 2012-13 over Q3 of 2011-12 are, ‘financing, insurance, real estate and business services’ at 7.9 per cent, ‘construction’ at 5.8 percent, ‘community, social & personal services’ at 5.4 per cent, ‘trade, hotels, transport and communication’ at 5.1 per cent and ‘electricity, gas & water supply’ at 4.5 per cent. The growth rate in ‘agriculture, forestry & fishing’, ‘mining and quarrying’ and ‘manufacturing’ is estimated at 1.1 per cent, (-) 1.4 per cent and 2.5 per cent, respectively in this period...Read More

Budget Reactions

Union Budget 2013-14 is a balanced one with no major surprises: Max Life Insurance

Given the current fiscal and economic constraints the Finance Minister was facing this Union Budget 2013-14 is a balanced one with no major surprises. The fiscal deficit of 5.2% of GDP in the current financial year is in line with his promise and market expectations. The Finance Minister has also announced his intent to further reduce fiscal deficit to 4.8% by Financial Year 2014 which indicates the government’s commitment towards greater fiscal discipline. With respect to financial inclusion and increasing insurance penetration the Union Budget has disappointed the life insurance industry with no measures taken to incentivise long-term savings and protection. The budget has not provided a separate limit for tax exemption for life insurance and pension or increased the exemption limits under section 80C. Life Insurance plays a critical role in providing long-term funds for infrastructure development by channelising domestic savings and could have helped in funding Rs.1 trillion planned to be invested in infrastructure during the 12th 5 year plan. However, the Finance Minister''s assurance that Insurance Amendment, and PFRDA Bills will be presented in this session, and the proposal to set up Standing Council of experts for reforms in Financial sector to compete internationally, shows his commitment towards the financial services sector. The budget proposal to allow Insurance and Pension companies to directly trade in debt segment is a welcome move. This will allow institutional participation in the exchange traded bond market...Read More

Budget has balanced near term priorities and long term growth drivers: ICICI Bank

The budget has balanced near term priorities and long term growth drivers. The progress in fiscal consolidation is indeed welcome. At the same time, the budget has articulated various measures to facilitate and boost investment in the country, such as the investment allowance deduction and ensuring fuel supply for thermal power plants. Measures for further expanding and deepening financial markets and facilitating foreign participation have also been announced. The budget is one part of overall economic policymaking and the budget presented today is a certainly a step forward in the series of initiatives announced by the government in recent months...Read More

Budget 2013 is about stability, positivity: HCL Infosystems

"Budget 2013 is about stability, positivity and I believe is a better budget then last year. This budget has stressed on some vital areas such as youth, education and skill development. Infusion of funds in the education sector without change in education cess, certainly is a step towards the nation's development. Furthermore, employment and productivity were well addressed too, as government plans to promote youth skill development for jobs; exemption of service tax will continue to encourage human development. There was not much spotlight on IT and technology as such but, it’s good to see the serious intent of the government to pass a GST law. Moreover, the government’s move to modernise and develop infrastructure will be much appreciated by the industry. "

Click here to read all......Budget Reactions 2013-14

Indian economy likely to grow between 6.1% to 6.7%: Economic Survey

Indian economy is likely to grow between 6.1% to 6.7% in 2013-14 as the downturn is more or less over and the economy is looking up. Following the slowdown induced by the global financial crisis in 2008-09, the Indian economy responded strongly to fiscal and monetary stimulus and achieved a growth rate of 8.6 per cent and 9.3 per cent respectively in 2009-10 and 2010-11, but due to a combination of both external and domestic factors, the economy decelerated growing at 6.2% and an estimated 5% in 2011-12 and 2012-13 respectively. The Economic Survey 2012-13, presented by the Finance Minister P. Chidambaram in the Lok Sabha predicts that the global economy is also likely to recover in 2013 and various government measures will help in improving the Indian economy’s outlook for 2013-14. While India’s recent slowdown is partly rooted in external causes, domestic causes are also important.

The slowdown in the rate of growth of services in 2011-12 at 8.2%, and particularly in 2012-13 to 6.6 percent from the double-digit growth of the previous six years, contributed significantly to slowdown in the overall growth of the economy, while some slowdown could also be attributed to the lower growth in agriculture and industrial activities. But despite the slowdown, the services sector has shown more resilience to worsening external conditions than agriculture and industry. For improved agricultural growth, the survey underlines the need for stable and consistent policies where markets play an appropriate role, private investment in infrastructure is stepped up, food price, food stock management and food distribution improves, and a predictable trade policy is adopted for agriculture. FDI in retail allowed by the government can pave the way for investment in new technology and marketing of agricultural produce in India. Fast agricultural growth remains vital for jobs, incomes and food security.

The survey points out that the priority for the Government will be to fight high inflation by reducing the fiscal impetus to demand as well as by focusing on incentivizing food production through measures other than price supports. But unlike the previous year, when food inflation was mainly driven by higher protein food prices, this year the pressure has been coming mainly from cereals. On the Balance of Payments and External Position, the survey highlights that with net exports declining, India’s balance of payments has come under pressure. Moreover, in the current fiscal, foreign exchange reserves have fluctuated between US$ 286 billion and US$ 295.6 billion, while the rupee remained volatile in the range of Rs 53.02 to Rs 54.78 per US dollar during October 2012 to January 2013...Read More

Economic Survey 2012-13

Highlights of Economic Survey 2012-13

Economic Survey 2012-13: Seizing the Demographic Dividend

Railway Budget 2013-14…Read Pawan Kumar Bansal’s full speech

Speech of Pawan Kumar Bansal introducing the Railway Budget, 2013-14 26th February 2013

Madam Speaker, I rise to present before this august House the Revised Estimates for 2012-13 and a statement of estimated receipts and expenditure for 2013-14. I do so with mixed feelings crossing my mind. While I have a feeling of a colossus today, it is only ephemeral and is instantaneously overtaken by a sense of humility. Democracy gives wings to the wingless, cautioning us all the while, that howsoever high or wide our flight may be, we must remain connected to the ground. For giving me this opportunity, I am grateful to the Hon’ble Prime Minister Dr. Manmohan Singh and the UPA Chairperson, Sonia Gandhi and pay my homage to the sacred memory of Sh. Rajiv Gandhi who introduced me to the portals of this highest Temple of Indian democracy.

Madam Speaker, as I proceed, my thought goes to a particularly severe cold spell during the recent winter, when it was snowing heavily in Kashmir valley, and suspension of road and air services had brought life to a grinding halt. Photographs in Newspapers showing a train covered with snow emerging from a similar white background, carrying passengers travelling over the recently commissioned Qazigund -Baramulla section instilled in me a sense of immense pride.

I recall here the inspirational words of Christine Weatherly:

"When you travel on the railway,

And the line goes up a hill,

Just listen to the engine

As it pulls you with a will.

Though it goes very slowly

It sings this little song

'I think I can, I think I can,'

And so it goes along."

That is the strength of this organization, supported by determination, commitment and dedication to duty demonstrated by each member of the 14 lakh strong Rail Parivar...Read More

Read All about Railway Budget 2013-14

Highlights of Railway Budget 2013-14

Railways minister Pawan Kumar Bansal on Tuesday steered clear from hiking passenger fares in his maiden rail budget, hike in tatkal reservation scheme. Bansal presented the rail budget for 2013-14 in the Lok Sabha, informing the House that losses of Indian Railways is mounting. Stressing on financial sustainability of the Indian Railways, Bansal said the loss amounted to Rs. 225 hundred crores. "The growth of Indian Railways is inextricably linked with the growth of the country," Bansal said in his budget speech in the Lok Sabha, the lower house of parliament. "It must remain financially sustainable. Resources generated must be ploughed back." The minister said railways remained the single most important catalyst in India's growth story and was a vital organisation integrating the nation from Baramulla in the north to Kanyamumari in the south. Bansal expressed grief over the loss lives due to the recent stampede at the Allahabad station and said a concrete safety plan would ensure that travel on Indian Railways is hassel free.

Here are the Highlights of the Rail Budget 2013-14:

  1. 67 new Express trains to be introduced
  2. 26 new passenger services, 8 DEMU services and 5 MEMU services to be introduced
  3. Run of 57 trains to be extended
  4. Frequency of 24 trains to be increased
  5. First AC EMU rake to be introduced on Mumbai suburban network in 2013-14
  6. 72 additional services to be introduced in Mumbai and 18 in Kolkata
  7. Rake length increased from 9 cars to 12 cars for 80 services in Kolkata and 30 services in Chennai
  8. 500 km new lines, 750 km doubling, 450 km gauge conversion targeted in 2013-14
  9. First ever rail link to connect Arunachal Pradesh
  10. Some Railway related activities to come under MGNREGA
  11. For the first time 347 ongoing projects identified as priority projects with the committed funding
  12. Highest ever plan outlay of Rs. 63,363 crore
  13. Loan of Rs. 3000 crore repaid fully.
  14. A new fund-Debt Service Fund set up to meet committed liabilities.
  15. Freight loading of 1047 MT, 40 MT more than 2012-13
  16. Passenger growth 5.2% in 2013-14
  17. Gross Traffic Receipts – Rs. 1,43,742 crore i.e. an increase of 18,062 crore over RE, 2012-13...Read More

London's Precarious Brilliance, Cyber-Attacks And The Real Wealth Of Nations

Source: Economist

Mayhem in the mid cap

Mayhem in the mid-cap continued on Wednesday as stocks of many companies tanked to phenomenon lows. The rumour mill is red hot with the talk of heavy sale of pledged shares as promoters of some mid-cap companies go bankrupt; this is the rationale being projected by media reports and experts behind the unexplained sell off in that category. But the market regulator SEBI wants to put the assertion to a test and has launched a probe into the mystery of the mid-cap when a similar carnage happened on Monday and intensified on Tuesday when CNX Nifty index fell over 100 points during the intra-day trade for the first time since May 2012. Over a dozen mid-cap shares fell on Monday and Tuesday even as stocks such as Core Education and Technologies fell as much as 61%. UK Sinha, Chairman of the market regulator SEBI has promised to revamp insider trading regulations shortly. "Like we revisited the takeover code, similarly the insider trading regulations will be revisited. The committee is being appointed shortly and I hope that within a year the reforms will take place." Sinha was quoted as saying by reports. Market experts are too pointing fingers at an insider trading angle. To arrest the volatility in the market BSE capped the lower circuit limit of 12 scrips which were badly hit in Tuesday’s sell off. Aanjaneya Lifecare, Bhagwati Banquets & Hotels, Gemini Communications, Sudar Industries are the stocks which are allowed a maximum movement of 10%. While companies such as D B Realty, 7seas Technologies, Bhoruka Aluminium, Broadcast Initiatives, Vardhman Polytex and W H Brady & Co Ltd would be allowed an up/down movement of 5% in day. And the circuit limit of Jolly Plastic Industries is capped at 2%.  Some of the stocks that were the biggest losers in the intra-day trade at BSE were: Core Projects(-42.3%), Onelife Capital(-20%), PG Electroplast(-19.9%), Plethico(-19.9%), Rushil Decor(-19.9%), Gravita India(-19.97%), Frontline Bsns(-19.95%), JINDALCOTEX(-19.95%), SYNCOM HEAL(-19.58%), Nath Pulp(-16.9%), Hindustan Tin(-15.54%). Core projects fell a staggering 42% today after witnessing a free fall of 61% on 25 February. The stock is currently trading at Rs.57.55 down by Rs.54.95 at 1450hrs on BSE in the day’s trade. The stock touched a high of Rs. 117.75 and a low of Rs.56.30. Total traded quantity at the counter stood at 73.4 lakh...Read More

Economy Probe: January 2013

» GDP growth, as per advance estimates, is estimated at 5% in FY13 compared to 6.2% in FY12 (first revised estimates). The growth rate for H1 FY13 is 5.4%.

» During 1 Jan-13 Feb 2013, cumulative rainfall received for India is 17% below normal.

» Food grains (rice & wheat) stocks held by FCI and state agencies were 66.19 million tonne as on February 1, 2013.

» IIP growth declined 0.6% during December 2012 compared to 2.7% in December 2011.

» During Apr-Dec 2012-13, IIP growth was 0.7% compared to 3.7% in Apr-Dec 2011-12.

» Eight core infrastructure industries registered growth of 2.6% in December 2012 compared to 4.9% in December 2011.

» Broad money (M3) for FY13 (up to January 25, 2013) increased 10.1% compared to 10.5% during the corresponding period of the last year. The Y-o-Y growth as on January 25, 2013 was 12.7% against 14.8% in the previous year.

» Cumulative growth of exports & imports, in US dollar terms, during April 2012-January 2013 fell 4.9% and 0.01%, respectively.

» Foreign currency assets stood at $262.5bn in end January 2013 against $259.2bn in end January 2012.

» Rupee appreciated against US dollar, Pound sterling and Japanese yen and depreciated against Euro in the month of January 2013 over December 2012.

» WPI inflation for all commodities for the month of January 2013 declined to 6.62% from 7.18% in the previous month.

» Gross tax revenue increased 15% to Rs. 6.81 trillion in Apr-Dec 2012 compared to the corresponding period in the previous year.

» Tax revenue (net to Centre) rose 15.2% to Rs. 4.84 trillion during Apr-Dec 2012.

» As a proportion of budget estimate, fiscal deficit during Apr-Dec 2012 was 78.8% and revenue deficit was 85.1%.

» Sensex closed at 19,015 points compared to 17,445 points on 27 February 2012—a growth of almost 9%...Read More

Women are an underserved market for mobile financial services: study

A study released today by the GSMA mWomen Programme and Visa Inc. entitled, Unlocking the Potential: Women and Mobile Financial Services in Emerging Markets, shows that women in developing countries represent a significant underserved market and commercial opportunity for mobile financial service providers. The study, focused on women in Indonesia, Kenya, Pakistan,Papua New Guinea and Tanzania, was undertaken to gain additional insight into how financial institutions and mobile network operators can better support the complex financial lives of women at the base of the pyramid. Around the world more than 2 billion people, the majority of whom are women, lack access to basic financial services. The study, led by Bankable Frontier Associates, found that women often also face an additional burden of having primary responsibility for managing the household finances. These resource-poor women must overcome numerous challenges in managing their finances: incomes are low, irregular and unpredictable, and formal financial tools hard to access...Read More

How do your student loans affect your mortgage?

By the end of 2012, the average student loan debt was $27,000. That's 5% higher than it was in 2010 – certainly not good news for people trying to finance their educations right now! In fact, most people will take several years to pay off all of that debt. But is it also bad news for people trying to qualify for a mortgage? Specifically, will your student loan debt stand between you and your dream home? It doesn't have to! If you've read the mortgage advice from the real estate experts at Realtypin.com, you know that lenders will evaluate all of your debts (like your student loans, car payments, credit card bills, etc.) before they approve your mortgage application. So, if you have a ton of student loan debt hanging over your head, it may take a little extra planning ahead of time to get your mortgage application approved, but it doesn't have to be impossible.

Here's what you need to do:

Make your payments consistently

As frustrating as it may be to write that check every month, it's the best thing you can do! First, by making your student loan payments every month, you're showing a mortgage lender that you're responsible. In fact, it can even give your credit score a boost! If you miss even one payment, a lender could have reason to believe that you'll miss mortgage payments – and deny your application! As an added benefit, every time you mail off another check, you're paying down your debt. That means you'll have less and less debt that will count towards your debt-to-income ratio when you apply for a mortgage – which increases your odds of getting approved...Read More

Walnut consumption lowers risk of type-2 diabetes in women : reports

Recent research published online by the Journal of Nutrition, found an inverse relationship between walnut consumption and risk of type 2 diabetes in two large prospective cohorts of U.S. women: the Nurses’ Health Study (NHS) and NHS II. The researchers from the Harvard School of Public Health followed 58,063 women (52–77 years) in NHS (1998–2008) and 79,893 women (35–52 years) in NHS II (1999–2009) without diabetes, cardiovascular disease, or cancer at baseline. They found two or more servings (1 serving= 28 grams) of walnuts per week to be associated with a 21% and 15% lower risk of incident type 2 diabetes before and after adjusting for body mass index (BMI) respectively. Diabetes is estimated to affect 12.6 million women in the United States and 366 million people worldwide, and the numbers are expected to rise to approximately 552 million globally by 2030. Diet and lifestyle modifications are key components in fighting this epidemic, and recent evidence suggests that the type of fat rather than total fat intake plays an important role in the development of type 2 diabetes. Specifically, a higher level of polyunsaturated fatty acids (PUFAs), found significantly in walnuts, has been associated with a reduced risk of type 2 diabetes. Compared with other nuts, which typically contain a high amount of monounsaturated fats, walnuts are unique because they are rich in PUFAs which may favorably influence insulin resistance and risk of type 2 diabetes. Walnuts are different among nuts specifically in that they are uniquely comprised primarily of PUFAs and are the only nut with a significant amount of alpha-linolenic acid – the plant-based omega-3 fatty acid (2.5 grams of ALA per 1 ounce/ 28 gram serving)...Read More

Government committed to fight Inflation, says Finance Minister

The Union Finance Minister P Chidambaram has said that looming large over our efforts to stimulate growth is inflation. Presenting the General Budget 2013-14 in Lok Sabha today, Chidambaram said that some inflation is imported.  Supply demand mismatch, for example in oilseeds and pulses, also pushes up inflation, he said. Aggregate demand is another cause of inflation. The battle against inflation must be fought on all fronts, he asserted. Chidambaram said, in the past few months Government’s efforts have brought down headline WPI inflation to about 7.0% and core inflation to about 4.2%. He further stated that food inflation is worrying and the Government shall take all possible steps to augment the supply side to meet the growing demand for food items.

Several measures announced to strengthen Capital markets

Terming the Indian markets as amongst the best regulated the Finance Minister announced several measures to strengthen the capital market regulator SEBI on the eve of its Silver Jubilee. The DepositoryParticipants authorized by SEBI will now register different classes of portfolio investors subject to compliance with KYC guidelines doing away with different procedures and avenues for many categories. SEBI will simplify the procedure for the Foreign Portfolio Investors and prescribe uniform registration and other norms by converging the different KYC norms. In order to remove the ambiguity between FDI and FII in accordance with international practices, an investor with a stake of 10% or less will be treated as FII whereas the one with more than 10% stake will be treated as FDI.  The FIIs will also be permitted to participate in exchange tradedCurrency Derivatives segments to the extent of their Indian rupee exposure in India. FIIs will also be permitted to use their investments in Corporate Bonds and Government Securities as collateral to meet their margin requirements. Angel investors provide both experience and capital to new ventures.SEBI will prescribe requirements for angel investor pools by whichthey can be recognized as category I venture funds. With the objective of developing the debt market, stock exchanges will be allowed to introduce a debt segment on the exchange wherein banks and primary dealers will be trading members alongwith insurance companies, provident funds and pension funds.  The list of eligible securities in which Pension Funds and Provident Funds may invest will be enlarged to include exchange traded funds, debt mutual funds and asset backed securities.

Inclusive and Growth-Oriented Budget: Adi Godrej, President, CII

CII has welcomed the Budget 2013-14 as a growth-oriented Budget that would kickstart the next cycle of investment. Coming in the backdrop of challenging global and domestic macro-economic conditions, the Budget makes laudable efforts to optimise growth drivers while addressing inclusive and sustained development. CII is happy that many of its suggestions have found mention in the Budget. "The Budget meets most of our concerns regarding fiscal consolidation, investment incentives, and inclusive growth. These are in alignment with CII’s submissions in its pre-Budget Memorandum to the Finance Ministry," said Adi Godrej, President, CII. Fiscal deficit has been maintained below the target at 5.2% for 2012-13 and at 4.8% for 2013-14. Godrej added, "Budget 2013-14 promises to adhere to the fiscal deficit roadmap as laid out by the Finance Minister last year. This will boost growth, curtail inflation and help in ratings. Emphasis on agriculture, technology and innovation and science and technology is very welcome as it adds to future growth prospects." CII particularly welcomes the stress placed on inclusive growth and development. Plan expenditure has been raised by almost 30%, and inflationary pressures due to supply side measures are sought to be dampened. This would encourage further monetary steps to lower interest rates which would spark investments. The expenditure on education and healthcare has been increased substantially, while skill development has received a big boost. This is in line with CII’s emphasis on enhancing human talent capacities...Read More

The next cut: Issuances improves; more underlying assets in sight?

Issuances of PPMLD improved in January 2013

The January 2013 month witnessed 31 issuances with the average maturity of 2.6 years v/s. 18 issuances in Dec 2012 with average maturity of 3.1 years. The number of issuances in January 2012 was 14 with the average maturity of 2.6 years. The market witnessed the issuance primarily by Edelweiss Capital Limited (ECL), Reliance Capital limited (RCL), Citicorp, Macquarie, and India Infoline Finance Limited (IIFL). CARE Research finds that ~291 PP-MLDs term sheets have been issued in the market during January 2012 to January 2013. In January 2013, ECL leads the issuance with 9 term sheets, followed by Citicorp with 8, RCL with 7, IIFL with 4 and Macquarie with 3 term sheets. Theoreticaly in a volatile market investment sentiment turns cautious and investors seek downside protection with respect to thier stock investment. PPMLDs by definition are the investment instruments which protect the downside risk as at least the prinicpal amount is guaranteed by this issuers while there is participation available on market movement. The principal protection is offered by entities with good credit quality with ratings in A/AA/AAA categories. CARE Research is of the opinion that there is a need to educate the investors on the potential of these instruments in a volatile as well as a bearish market as they provide an in built ‘stop loss’ in uncertain market environments.

At the time of lacklustre performance by equities, the investment sentiment in such structured products (PPMLD) turns cautious. Even with short term rallies, the demands for these structured products do not pick up as investors doubt the sustainability of rallies. "Lack of sustained performance by equity markets has led to lack of conviction by HNIs in equity market linked products. Lack of participation in alternative underlying assets such as Gold and minimum investment limit in PMS of 25 lacs has contributed to the lacklustre demand of these structures" says Mr. Arjun Reddy, Product & Advisory at Ambit Private Wealth, Ambit Holding. Given the current uncertain economic/market scenario, investors are opting for the more simpler/time tested investment avenues, indicating weak investment confidence for innovative asset classes/products. Nevertheless, the higher risk adjusted returns on PPMLDs have been a feature of attraction amongst investors. "In volatile markets, this category of products has provided very good risk adjusted returns to clients and this performance has led to increase in investor confidence." Says Mr. Vivek Sharma, Head - Structured Products & Investment Advisory at Edelweiss Global Wealth Management Limited...Read More

Multi-pronged approach to help increase insurance penetration

The Government will follow a multi pronged approach to increase penetration of insurance-both life and general- in the country.Chidambaram said a number of proposals finalized in consultation with IRDA are being implemented. Insurance companies will now be allowed to open branches in tier II cities and below without prior approval of the IRDA. The banks will be permitted to act as insurance brokers so that full network of banks will be utilized to increase penetration.The banking correspondents will be allowed to sell micro-insurance products. TheKYC of Banks will be sufficient for purchase of insurance policies.He added that LIC and atleast one other public sector general insurance company will have an office in towns with a population of 10,000 or more by 31st March, 2014. The Rashtirya Swastha Bima Yojana which covers 34 million families below poverty line is proposed to be extended to cover other categories such as rickshaw, auto rickshaw and taxi drivers, sanitation workers, rag pickers, and mine workers.   The Rural Housing Fund set up through National Housing bank which refinances lending for rural housing will be provided Rs 6000 crore as against Rs 4000 crore provided last year. In view of the shortage of houses it is proposed to start a fund for housing in urban areas. The National Housing Bank will be asked to set up the fund and Rs. 2000 will be provided for it in 2013-14. Championing the idea of an integrated social security package for the unorganized sector he said an integrated and comprehensive package including life cover,cum disability, health cover, maternity assistance and pension benefits will immensely help the poorest and most vulnerable sections of the society. The present schemes such as AABY,JSBY, RSBY,JSY, IGMSY are run by different Ministries and it is proposed to converge them and evolve comprehensive social security package.

Government takes measures to Rationalise expenditure

The Union Finance Minister P Chidambaram called the policy decisions of the Central Government to correct some prices and review of certain tax policies as "a dose of bitter medicine". Presenting the General Budget 2013-14 in Lok Sabha today, Chidambaram said, faced with a huge fiscal deficit, the Government had no choice but to rationalize expenditure. He said that the Government took some policy decisions that had been deferred for too long and undertook a review of certain tax policies. The Finance Minister stated that in the Budget for 2012-13, the estimate of Plan Expenditure was too ambitious and the estimate of non-Plan Expenditure was too conservative. He said that the Government retrieved some economic space and used that economic space to advance Government’s socio economic objectives.

Economic Survey acknowledges benefits of market diversification

The Economic Survey presented by the Finance Minister, P. Chidambaram in the Parliament today expressed satisfaction over the strategy of market diversification There has been significant market diversification in India’s trade. Region wise, India’s exports to Europe and America have declined to 18.7% and 19.5% respectively in 2012-13 from 25.9% and 24.7% in 2000-01. On the other hand Export to Asia and Africa rose to 50.4% and 9.6% respectively from 37.4% and 5.3% respectively during the same period. There was a noticeable rise in the share of West Asia –GCC (Gulf Cooperation Council) countries from 14.9% in 2011-12 to 17.7% in 2012-13 (April- November) said the Survey. However, the Survey noted that "in terms of product diversification a lot more is needs to be done." The Survey also noted the impact of exchange rate changes on export growth. It said that while Export growth in dollar terms was negative at - 4.9 in 2012-13 (April-January), it was positive in rupee terms at 9.1%. Though, here too, there was a deceleration from the 28.3% in 2011-12 (full year).

The trade deficit of US$167.2bn for 2012-13 (April-January) was 7.9% higher than the US$154.9bn during the same period in 2011-12. The survey attributes this to moderate export growth and high import growth, particularly in petroleum, oil and lubricants (POL) products. Demand contraction due to global economic conditions impacted India and export suffered.  After touching the high point of 56.5% growth in July 2011, India’s export growth started decorating with a sudden fall to single digits in November 2011 and then to negative territory in March 2012. Monthly export growth rates in 2012-13 (April- December) were negative except in April 2012. The survey notes the marginal revival to positive territory i.e. growth of export at 0.8% in January 2013. The Survey said that the India’s exports to EU and China have been more negative during the recent slowdown then in 2009-10, while the performance to USA has been better for most of the sectors except gems and jewellery.

Highlights of overall performance of CPSEs in 2011-12

Economic Survey 2012-13: Focus on curbing imports of Gold

The Economic Survey 2012-13 presented by the Union Finance Minister, P. Chidambaram in the Lok Sabha today has stated that as the room to increase exports in short run is limited, the main focus has to be on curbing imports, mainly by making oil prices more market determine and curbing imports of gold to contain current account deficit. At the same time, the Survey says, further measures to ease the inflow of remittances and steps to diversify software exports could help reduce financing needs. Greater emphasis on FDI including opening of sectors further can help increase quantum of safe-financing. Foreign Institutional Investors (FIIs) flows need to be targeted towards long-term rupee instruments so as to minimize the reversal of capital during risk-off phases. Finally, the Survey observes, external commercial borrowing needs to be monitored carefully so that entities without access to foreign exchange revenues do not leave significant exposures unhedged. The Survey observes that widening trade deficit and Current Account Deficit (CAD) crossing 4% of GDP in 2011-12 and the first half of 2012-13 have been matters of concern. The Survey further says that in recent years, net invisible balance reduced the need for financing while capital inflows were sufficient to finance the CAD. The Survey notes that in the current fiscal the growth in invisible is insufficient to narrow the growing trade deficit besides the CAD financed by volatile capitals flows has led to financial fragility and is reflected in rupee exchange rate volatility.

Difference between FII and FDI: FM clears the ambiguity

Finance Minister P Chidambaram on Thursday said the country will now follow global practices to differentiate between foreign institutional investors (FIIs) and foreign direct investment (FDI) based on their holdings in firm. In the Budget 2013-14, Mr Chidambaram said that foreign investors with less than 10% stake in a particular stock will be considered as FII, and more than 10% stake as FDI. "To remove the ambiguity that prevails on what is FDI and what is FII, I propose to follow the international practice and lay down a broad principle that, where an investor has a stake of 10% or less in a company, it will be treated as FII and, where an investor has a stake of more than 10%, it will be treated as FDI," Mr Chidambaram said in his Budget speech. A committee will be constituted to examine the application of the principle (on classification) and to work out the details expeditiously, the finance minister added. As a result of the new classification, Indian companies will be required to make changes in their foreign shareholding structures. Of the 5,500 firms listed in India, 586 have FDI holdings and 1,317 FII holdings, including those that have holdings from both FDI entities and FIIs. FDI refers to an investment made by a company or entity based in one country, into a company or entity based in another country. The investing company may make its overseas investment in a number of ways - either by setting up a subsidiary or associate company in the foreign country, by acquiring shares of an overseas company, or through a merger or joint venture. An example of FDI would be an American company taking a majority stake in a company in India. The term FIIs refer to outside companies investing in the financial markets of India. International institutional investors must register with the Securities and Exchange Board of India to participate in the market. One of the major market regulations pertaining to FIIs involves placing limits on FII ownership in Indian companies.

Govt. unveils Crop Development Schemes for promoting productivity of field crops

India and Canada to strengthen cooperation in tourism sector

Maxime Bernier, Minister of Tourism, Canada called on Union Tourism Minister K Chiranjeevi here. Both sides resolved to strengthen cooperation in tourism sector. It was also decided that both the countries will identify areas for working together and explore new opportunities in tourism sector especially in the field of human resource development, exchange of tour operators, investment in the tourism sector and exchange of information related to tourism sector. The possibility of signing an agreement/MoU between India and Canada was also discussed. It was also agreed that Tour Operators and Travel Agents of both the countries will interact with each other in order to promote two way tourism between India and Canada. The possibilities of promoting more package tours in either of the countries could also be explored by the travel trade of two countries. Both sides also explored the possibilities of promoting joint venture investment in the field of hotel industry and tourism infrastructural sector. Now that Hotels and Tourism sector has been opened for Foreign direct investment up to 100% on automatic routes, Canadian investment in tourism infrastructure in India could be one of the major areas of cooperation...Read More

1.52 lakh Vacancies in railways to be filled up this year: PK Bansal

The Minister of Railways Pawan Kumar Bansal has announced that the Ministry of Railways will make concerted efforts to fill up approximately 1.52 lakh vacancies this year. While presenting Railways Budget for 2013-14 in Parliament today, he said that it is a measure of popularity of Railways as an employer that a staggering 2.2 crore applications were received. For the first time, Railways recruitment examinations were held at more than 60 cities across the country. In the process, a backlog of about 47,000 vacancies earmarked for weaker sections and physically challenged is likely to get cleared.

Railway Budget 2013-14: 67 new express and 26 passenger trains

Indian Railway announces several measures to prevent and control fire

Indian Railway introduces Educational Tourist Train ‘Azadi Express’

Railway to introduce Next Gen E-Ticketing System

The Minister of Railways Pawan Kumar Bansal has announced that the Ministry of Railways will make concerted efforts to fill up approximately 1.52 lakh vacancies this year. While presenting Railways Budget for 2013-14 in Parliament today, he said that it is a measure of popularity of Railways as an employer that a staggering 2.2 crore applications were received. For the first time, Railways recruitment examinations were held at more than 60 cities across the country. In the process, a backlog of about 47,000 vacancies earmarked for weaker sections and physically challenged is likely to get cleared.

Railways facilitates differently-Abled Passenger

Railway introduced ‘Anubhuti’ Coaches with latest modern facilities

The Minister of Railways Pawan Kumar Bansal has said that with increasing popularity of Shatabdi and Rajdhani trains, there is also a demand for higher travel comfort. Presenting the Railway Budget for 2013-14 in Parliament he said, responding to this need, the Indian Railways will introduce one such coach in select trains which will provide an excellent ambience and latest modern facilities and services. He said, such coaches will be named ‘Anubhuti’ and will have commensurate fare structure.

Indian Railways and BHEL sign MOU for Coaches Manufacturing facility

In the presence of the Minister of Railways Pawan Kumar Bansal and the Minister for Heavy Industries & Public Enterprises Praful a Memorandum of Understanding (MoU) was signed here today between Indian Railways and Bharat Heavy Electricals Ltd (BHEL) for setting up of Greenfield MEMU coaches manufacturing facility by BHEL at Bhilwara in Rajasthan. The signatories to the MOU were Kul Bhushan, Member Electrical Railway Board, and B. P. Rao, CMD, BHEL. Main Line Electric Multiple Unit Trains, popularly known as MEMU trains were first introduced in Indian Railways in the Year 1994-95, as a mode of rapid transit system, to cater to non-suburban passengers, residing in small towns and villages surrounding urban and industrial centres. MEMU trains have higher passenger carrying capacity and higher average speed as compared to conventional loco hauled passenger trains due to faster acceleration and braking characteristics. These rakes are now being manufactured with toilet facilities to take care of passenger needs. MEMU trains increase the line capacity utilisation, and therefore are more suitable for running on high traffic density routes.

These MEMU trains have gained rapid popularity over the years. Currently, there are about 160 MEMU services running. There are demands coming from all over the country for running more and more MEMU trains. The demand for these coaches will further increase as Indian Railways have plans to Electrify approximately 15000 route kilometre during the next 10 years, in addition to the existing 22000 route kilometre of electrified track. There was a shortfall in acquisition of 800 MEMU coaches during XIth Plan Period due to capacity constraints at Rail Coach Factory, Kapurthala, where these MEMU coaches are produced. Overall it is expected that the requirement of MEMU coaches will grow to nearly 9000 coaches during the next 10 year period. Setting up of factory for conventional MEMU coaches will go a long way in meeting this demand...Read More

Anand Sinha to continue as RBI Deputy Governor till January 2014

The government has extended the term of RBI Deputy Governor Anand Sinha, who played a major role in formulation of guidelines for new bank licences by 11 months. Anand Sinha will continue as Deputy Governor, Reserve Bank of India (RBI) till January 18, 2014, when he completes the tenure of three years from the date on which he assumed office, according to the central bank press release issued on Tuesday.Sinha was first appointed as the RBI Deputy Governor in January 2011 for a period up to February 28, 2013. He will continue to look after various departments which include banking operations, non-banking supervision and urban banks department as well as departments of risk monitoring, information technology, expenditure and budgetary control, legal and premises.   Sinha’s central banking career has spanned over 34 years. He has been involved with formulation of several major regulatory and supervisory policies for commercial banks. He has also been on several internal committees. He has handled, among others, foreign exchange, deposit insurance and regional office work during his career.

SBI increases fixed deposit rates by 0.25%

State Bank of India (SBI) on Wednesday announced increase in interest rate on fixed deposits by 0.25% on select maturities. The new rates would be effective from March 1, SBI said in a statement. The interest rate on 1-2 years fixed deposit increased to 8.75% from 8.5%. Similarly, term deposit 2-3 years, 3-5 years and 5-10 years would also earn higher interest rate of 8.75%. However, the interest rate has not been increased for deposits less than 1 year. Recently, SBI cut lending rate by 0.05%, soon after the Reserve Bank cut its key policy rates. SBI's base rate, or the minimum rate of lending, reduced to 9.7% from 9.75% effective February 4.

SBI sanctions Rs. 26.5bn loan to RINL for capex needs

Agricultural credit target kept at Rs. 7 lakh crores

In the budget for 2013-14 presented by the Finance Minister Sh. P. Chidambaram in Lok Sabha today, the agricultural credit target has been increased to Rs. 7 lakh crores from the earlier Rs. 5.75 lakh crores. The short-term crop loan scheme (Interest Subvention Scheme) has been extended to the crop loans borrowed from private sector scheduled commercial banks in respect of loans given in the service area of the branch concerned. Earlier the scheme was applicable to loans extended by the Public Sector Banks, Regional Rural Banks (RRBs) and Co-operative Banks. Under this Interest Subvention Scheme, a farmer will be able to get loans at 4 per cent per annum if he repays the short-term crop loan on time.

Govt promoting organic farming through NPOF, NHM and RKVY

The Government of India is promoting organic farming in various parts of the country including Bihar through various schemes like National Project on Organic Farming (NPOF), National Horticulture Mission (NHM) and Rashtriya Krishi Vikas Yojna (RKVY).  It is already supporting financial assistance under National Horticulture Mission (NHM) for setting up of vermi-compost units @ 50% of the cost subject to a maximum of Rs. 30,000/- per beneficiary. Funds are also provided @ 50% of the cost subject to maximum of Rs. 10,000/- per hectare for a maximum area of 4 hectare per beneficiary for adoption of organic farming. Similar norms of assistance are applicable for assistance given under Rashtriya Krishi Vikas Yojna (RKVY). Under NPOF scheme, financial assistance is provided for setting up of organic inputs production units as credit linked back-ended subsidy to the tune of 33% restricted to Rs. 60.00 lakh for setting up of Fruit/Vegetable market Waste / Agro-waste compost units and 25% restricted to Rs 40.00 lakh for setting up of Bio-fertilisers production units / Bio-pesticides production units. Beside this, a farmers’ group centric low-cost certification system, ‘‘Participatory Guarantee System (PGS-India)’’ an alternative of 3rd party certification system has been launched during 2011-12 to increase the area under organic farming.

Crop Development Schemes boost foodgrain production

Infrastructure is the game changer for India: Kamal Nath

The Hon’ble Union Minister for Urban Development Kamal Nath, inaugurated the annual KPMG-Infrastructure Awards ceremony, held at The Oberoi Hotel in New Delhi, in the presence of several eminent practitioners. For the fifth year running, Infrastructure Today, India’s premier magazine for nation builders, in association with KPMG in India, has held this prestigious award ceremony to celebrate excellence across the infrastructure sector.  India’s premier infrastructure award ceremony witnessed 12 private and public sector organizations such as Tata Power IL&FS Transportation Networks (India) Limited (ITNL), GMR Infrastructure Limited, Yamuna Expressway, receive accolades under different categories.  Kamal Nath was joined on stage by the awards organizer Arvind Mahajan (Partner and Head of Global Infrastructure and Energy and Natural Resources, KPMG in India) and James Stewart (Chairman-Global Infrastructure, KPMG in United Kingdom) to present trophies to PPP projects in Transport, Urban Infrastructure, Power, Enabling Central and State Agencies, and Financiers. While addressing the gathering Kamal Nath, an enthusiastic advocate of the PPP model, expressed his support towards the central and state governments’ escalating adoption of the public-private partnership (PPP) model for infrastructure projects, and emphasized the need for more partnerships.  Kamal Nath, in his address, congratulated the winners and expressed content at the recent progress made by the industry. "Infrastructure plays a vital role in facilitating economic growth.  When we invest in our infrastructure, whether our roads, communications networks or energy supply, we reap rewards, spawn new industries and create new jobs.

What’s in the budget for Investment and Infrastructure?

If economic & corporate performances improve, banks would gain: S&P

Indian banks’ asset quality and earnings should remain stressed through fiscal 2014. The pace of deterioration will decline as economic and corporate sector performance bottom out, according to the Standard & Poor’s, "India Banking Outlook 2013: More pain but relief might be on the way" report. The credit cycle is at a turning point, and the banking sector performance is likely to start improving starting in fiscal 2015. For the next 12 months or so, the country’s banking sector is likely to bear the effects of slow economic growth and the sluggish pace of fiscal reforms. However, troubles for India’s banking system are close to bottoming out. And we project that the situation is likely to get better in the financial year ending March 31, 2015, the report added. The country’s NPAs (gross loans) stood at 2.9% in March 2012 and are expected to soar significantly to 3.9% in March 2013. In March 2014, NPAs are expected to rise to 4.4% and after that improve, Geeta Chugh, Director & Analytical Manager, Financial Institutions Ratings, Emerging Asia, S&P, said. Ms Chugh was speaking at Standard & Poor's media teleconference today. Reduced economic activity, high inflation, and elevated interest rates have been the bugbears of Indian banks for the past couple of years. During this period, corporate performance suffered and banks' nonperforming assets soared and earnings were hit. The economy and corporate sector performance will gradually improve, given the government’s reform initiatives, which could spur growth. The benefits are expected to flow in the banking sector with a lag. Indian economy is expected to recover in the next couple of years after a dismal performance in the fiscal year ending March 31, 2013. S&P projects growth of about 5.5% for fiscal 2013, 6.4% in fiscal 2014, and 7.2% in fiscal 2015...Read More

Home loan… additional deduction announced in Union Budget

Presenting the Union Budget in Parliament today, the Finance Minister P Chidambaram expressed the hope that the India would achieve high economic growth despite slowdown in the global economic growth. The Finance Minister P. Chidambaram proposed that a person taking a loan for his first home from a bank or a housing finance corporation upto Rs.25 lakhduring the period 1 April 2013 to 31 March 2014 will be entitled to an additional deduction of interest of Rs.1 lakh. The Finance Bill 2013-14 proposes additional tax benefit to the first–home buyer who takes a loan for an amount not exceeding Rs. 25 lakh. The Finance Minister hoped that this will promote home-ownership and give a fillip to a number of industries like steel, cement, brick, wood, glass etc besides jobs to thousands of construction workers. This deduction will be over and above the deduction of Rs. 1.5 lakh allowed for self- occupied properties under Section 24 of the Income Tax Act. If the limit is notexhausted, the balance may be claimed in AY2015-16.

India faces shortage of fresh supply of houses?

Auction of 800 Mhz Spectrum to commence on March 11: DoT

Auction of 1800, 900 & 800 MHz spectrum was scheduled to begin on March 11, 2013. The last date for receipt of applications was 25.2.2013. At the time of close on the last date for receipt of applications i.e., 25.2.2013, one applicant, namely, SSTL registered for the auction of 800 MHz spectrum and no applicants registered for the auction of 1800 & 900 MHz spectrum. 1800 & 900 MHz bands were to be auctioned simultaneously starting from March 11, 2013 and the 800 MHz band auction was to commence 2 days after the conclusion of the auction of 1800 & 900 MHz spectrum. In the light of these developments, the auction of 800 MHz spectrum will commence on 11.3.2013 itself. Next steps in respect of the 1800 and 900 MHz spectrum will be decided shortly after placing the developments and issues arising there from before the EGOM on auction of spectrum. A third auction (after the 1st auction in November, 2012 and the second auction due to commence on March 11, 2013) was already announced by the DOT on 20.2.2013 consequent to the SC directions dated 15.2.2013. This third auction was to cover only the 1800 MHz band to comply with the SC directive to put the entire spectrum surrendered (which was entirely either in the 1800 or 800 MHz bands) by holders of quashed licenses to auction immediately. This would, in any case, have necessitated auction in 20 of the 22 circles wherein the quantum of spectrum put to auction was less than what the SC had directed on 15.2.2013 after the issue of the NIA for the March, 2013 auction. In Delhi and Mumbai circles, the quantum of spectrum put to auction in March, 2013 was already in accordance with the latest orders of the SC dated 15.2.2013. This was also the case in respect of spectrum in the 800 MHz band both in the November, 2012 auction and again in the March, 2013 auction...Read More

TRAI releases consultation issues Paper on ‘Review of Tariff for National Roaming’

TRAI issues directions to all MSOs and their linked LCOs

Growing economy creates good middle-class jobs: Obama

Unless Congress takes action, over the next few weeks our economy will be hit with harmful automatic cuts that threaten hundreds of thousands of middle class jobs. These cuts will slash vital services for children, seniors, people with mental illness and health care for our troops and military families.  President Obama strongly believes we need to replace these arbitrary cuts with balanced deficit reduction, VA to talk about what these cuts which are known as the sequester will mean for middle class families. While the full damage of these cuts will spread to nearly every corner of our economy over the next few months, some workers will receive layoff or furlough notices within days. Many of the 5,000 companies and small businesses from across the country that supply Newport News Shipbuilding with parts and equipment will be impacted, which will affect the firm's productivity. And down the road at the Norfolk Naval Station, the threat of these cuts has already forced the Navy to cancel the deployment and delay the repair of certain aircraft carriers, and postpone building on additional vessels. If the cuts are implemented, about 90,000 Virginians who work for the Department of Defense will be forced to take unpaid leave from their jobs, creating a ripple effect on thousands of other jobs, businesses, and services throughout the Commonwealth – and not just in the defense industry...Read More

Ben S. Bernanke speech on Semiannual Monetary Policy

Moody's Investors Service says that the gross financing needs for Emerging Asia sovereigns are overwhelmingly met through local-currency denominated debt issuance, imparting stability to government finances. Gross financing needs are set to edge down to 13.8% of the group's GDP in 2013, from 14.5% in 2012. In dollar terms, the figure is US$660bn, up slightly from the estimation for 2012, Moody's says in a new report, titled: Emerging Asia 2013 Government Financing Needs: Predominance of Local Currency Funding Imparts Stability. The special comment presents data on the 2013 gross financing needs and sources of a select group of 10 sovereigns which span South and Southeast Asia plus Mongolia. The report additionally discusses the fiscal trajectories and rating trends of members of group over the past decade. During this year, the 10 sovereigns will continue to fund themselves overwhelmingly from their domestic markets, using foreign currency debt for just 5% of their total gross financing needs, according to the report. This relatively low dependence on foreign-currency denominated external financing imparts stability to government finances. The exception is India, which the report estimates will direct close to 30% of its financing needs to funding its savings and reserve funds, thereby skewing the figures in the "other" category. Some 60% of the group's requirements will stem from debt amortization and 30% from central government deficits, with the balance going to "other" financing that ranges from reserve funds, as with India, to emergency measures, as with Thailand. The report notes that virtually all emerging Asian sovereigns reduced their fiscal deficits in the years preceding the global financial crisis. But since then, group members have diverged in their fiscal consolidation efforts, with some, mostly Southeast Asian governments, successfully reducing their finances and others, mainly South Asian governments, failing in this area. At the same time, for the group as a whole, debt/GDP ratios have generally improved, some because of fiscal consolidation, and others largely because of high nominal growth. Credit trends have not been uniform across the region and rating drivers have varied. Most members of the group -- despite the divergence in their individual credit profiles -- have maintained their creditworthiness, but there is some variation.

Emerging Asia gross financing needs local currency funding imparts stability: Moody's

After a lacklustre November and December, Canadian entrepreneurs are feeling more optimistic in early 2013, according to the Canadian Federation of Independent Business (CFIB). The Business Barometer index continued January's upward trend by rising another half a point to 66.2 in February. "For the first time in awhile, small business owners are reporting index numbers that indicate the economy is growing nearer its potential," said Ted Mallett, CFIB's chief economist and vice-president. "The January and February results suggest Canadians are seeing modest, but widespread economic growth." Small business owners in Alberta (71.0) remain the most optimistic in Canada, although Saskatchewan (69.8) and Newfoundland and Labrador (67.0) are not far behind. Ontario (65.3), Nova Scotia (65.3), British Columbia (64.9), Quebec (64.6), Manitoba (63.4), and New Brunswick (62.2) are all slightly below the national average. Prince Edward Island (54.1) saw a noticeable decline in business confidence. "Despite talk of a 'bitumen bubble', small business confidence is strong in Alberta, and getting stronger across most of Canada," added Mallett. "That view is buttressed by positive expectations for full-time job growth." Full-time hiring plans are far better than seasonal norms, with 26% of businesses expecting to hire additional staff in the next few months, and only six per cent planning to cut back. Measured on a scale of 0 and 100, an index level above 50 means owners expecting their businesses' performance to be stronger in the next year outnumber those expecting weaker performance. According to past results, index levels normally range between 65 and 70 when the economy is growing at its potential. The February 2013 findings are based on 974 responses, collected from a stratified random sample of CFIB members, to a controlled-access web survey. Findings are statistically accurate to +/- 3.2% 19 times in 20.

JLR launches Jaguar XJ Ultimate priced up to Rs 18.8mn

Tata Motors-owned Jaguar Land Rover reportedly launched luxury sedan Jaguar XJ Ultimate, priced up to Rs.18.8mn (ex-showroom, Mumbai). According to reports, the XJ Ultimate is available with Jaguar’s existing 5.0 litre V8 supercharged petrol engine and 3.0 litre V6 turbocharged diesel engine, all driving the rear wheels via an eight-speed transmission, the Company said in a statement. While the 5.0 litre V8 option will cost Rs 18.8mn (ex-Showroom Delhi), the 3.0 litre diesel variant is priced at Rs 17.8mn, reports stated. "Based exclusively on the long-wheelbase XJ, the interior changes applied to the Ultimate focus on the rear accommodation, extending the car’s limousine remit to provide a fully-appointed luxury business class experience for the most discerning of global customers," the Company said.

Nissan launches new era for NISMO its exclusive global performance road car

Nissan Motor kicked off a new era for Nismo, confirming it as Nissan's exclusive global performance road car and motorsport brand and officially opening the new Nismo global headquarters and development center in Yokohama, Japan. Nismo is already well-known to motorsports and performance car enthusiasts in Japan and to millions of global gaming enthusiasts. Now, Nismo is poised for accelerated global impact, enhancing Nissan's reputation for innovation and excitement with a new line-up of sporty Nissan road cars. In a special ceremony today, Nissan CEO Carlos Ghosn declared the new headquarters open and explained how Nismo will play an even more prominent role for the company's performance car and motorsport activities. The first new Nissan road car to get the Nismo treatment, the Juke Nismo, is already on sale in Europe and Japan and launches in the U.S. in the second quarter of this year. A new version of the 370Z Nismo for European markets is the next Nismo road car, which made its world debut earlier this month and builds on the platform of Nissan's most popular and accessible sports car. Nissan is promising a rapid pace of introduction of even more Nismo models, at least one model every year during the Nissan Power88 period, encompassing the breadth of the Nissan road car range. This will include the flagship of Nissan's performance and technology, the GT-R.  Nismo's new charter will also impact Nissan's future motorsport activities, where it is expected to boldly enhance Nissan's reputation for excitement and innovation. Nismo is taking on global responsibility for managing Nissan's motorsport program which includes top level competition in every region of the world.

Nissan reveals expanding Global Motorsport Program for 2013

Toyota Kirloskar announces inauguration of Gasoline Engine & Transmission Plant

Delta Air Lines provides a superior sleep experience in the skies

Delta Air Lines is transforming the sleep experience in the air by offering Westin Heavenly In-Flight bedding, designed and manufactured exclusively for Delta, in all of its BusinessElite cabins throughout the world. The new Westin Heavenly In-Flight bedding product will be available on all BusinessElite International flights, as well as BusinessElite flights between New York’s John F. Kennedy International Airport and Los Angeles, San Francisco and Seattle and between Atlanta and Honolulu, beginning in June 2013. BusinessElite customers will receive a Westin Heavenly sleeping pillow and a comforter with extra luxurious loft. Passengers on flights over 12 hours also will receive a lumbar pillow.

In addition to the new Westin Heavenly In-Flight bedding, Delta is making investments in several other products and services to revamp the in-flight sleep experience. These include a white noise channel on Delta Radio, and new BusinessElite amenity kits featuring Tumi and Malin+Goetz products. Delta is also enhancing the sleep experience by expanding full flat-bed seating. Delta is introducing full flat-bed seats in the BusinessElite cabin of all transcontinental flights operating between New York and Los Angeles, San Francisco and Seattle beginning in March 2013. All of Delta's Boeing 757 and 767 aircraft serving these transcontinental markets will offer the flatbed seats over the next 24 months. Delta's decision to install full flat-bed seats on its transcontinental flights complements the airline's current investment in full flat-bed seats on its entire international widebody fleet of more than 140 aircraft. By the end of 2013, 70 percent of all Delta aircraft will have flat beds and, in early 2014, Delta’s entire widebody fleet is scheduled to be complete. As a direct result of customer feedback, flight attendants are also modifying their in-flight service to better foster sleep. BusinessElite flights now offer an "Express Meal" that features lighter fare and a one-step delivery process on all international flights departing after 9 p.m. and flights between JFK and London’s Heathrow Airport. Delta will be designing a similar express meal menu for BusinessElite flights that are less than 10 hours long, as well as transcontinental flights...Read More

Boeing delivers first 777 built at increased rate

Boeing has delivered the first 777 built at the increased production rate of 8.3 per month, or 100 airplanes per year. The airplane, a 777 Freighter, was delivered to Korean Air. In the past 32 months, the 777 program has increased its production rate twice. The rate went from five to seven per month in 2011, and now to the all-time high of 8.3 per month. 1,072 777s have been delivered through the end of January and a total of 1,431 have been ordered from 66 customers around the globe.

Air Arabia begins year with new passenger traffic record

8 million people in UK have no savings: Scottish Widows report

Almost 15 million people across the UK (31% of the adult population) are not currently making any efforts to save for the future, while eight million people (17%) have no savings to their name at all, according to Scottish Widows’ seventh annual Savings and Investment Report. Although 63% of Britons are managing to put something away, nearly a third (32%) have a total pot of less than £1000, which is less than the UK average combined monthly mortgage and council tax costs (£1009). In addition, almost one in five of those who expect their financial priorities to change are seriously concerned about job security for the coming year. These statistics paint a bleak picture of people’s ability to cope with financial shocks that could hit now or in the future.

Families shoulder the burden

A quarter (25%) of respondents with families have loaned ‘a substantial amount’ to their children, often to simply help them meet daily living expenses. Support is also provided for higher education and property purchases, with an average loan of almost £15,000 – an 11% increase from the amount reported last year. Interestingly, when asked what they’d rather give their children money for, parents opted for helping them get on to the housing ladder (63%) over university fees (21%).   This level of support is having a stark impact on parents’ finances with a quarter (24%) cutting back on their savings and almost one in ten (8%) stopping saving altogether. However, it isn’t just parents funding their children; whole families are pulling together to support each other. The report shows that grandparents are helping their grandchildren; children are lending money to their parents, and siblings are also supporting each other...Read More

Rajat Gupta ordered to pay $6.2 million to Goldman

Federal judge Jed Rakoff on Monday ordered former Goldman Sachs Group Inc director Rajat Gupta to repay $6.22 million to help bank cover its legal expenses related to his criminal insider trading case, according to media report. Goldman had sought to recover $6.91 million from Mr Gupta, and Rakoff said the bank had proved it was entitled to 90% of what it requested. A senior US businessman convicted for white collar cheating, Mr Gupta was told to reimburse the bank’s legal fees by federal judge in New York, the report added. Gupta is appealing his June 15, 2012 conviction and two-year prison term for leaking boardroom secrets to Raj Rajaratnam, the hedge fund manager at the center of a multi-year U.S. government crackdown on insider trading. Gupta is a former global managing director of the consulting firm McKinsey & Co, and is the highest corporate executive convicted in the probe.

Facebook buys Microsoft ad technology platform: reports

Facebook Inc has reportedly said that it agreed to buy advertising technology from Microsoft Corp that measures the effectiveness of ads on its website. Under the transaction, Facebook will purchase the Atlas Advertiser Suite, an ad management and measurement platform that Microsoft took on with its $6.3 bn acquisition of digital ad agency aQuantive in 2007. Microsoft wrote off $6.2 billion of the aQuantive deal's value last year, says report. There are reports that Facebook has introduced a number of tools and partnerships to prove to marketers that advertising on its social network delivers enough bang for the buck.

Worldwide public cloud services market to total $131bn: Gartner

The public cloud services market is forecast to grow 18.5% in 2013 to total $131bn worldwide, up from $111bn in 2012, according to Gartner, Inc. Infrastructure as a service (IaaS), including cloud compute, storage and print services, continued as the fastest-growing segment of the market, growing 42.4% in 2012 to $6.1bn and expected to grow 47.3% in 2013 to $9bn. Cloud advertising continues to be the largest segment of the cloud services market, comprising 48% of the total market in 2012. Gartner predicts that from 2013 through 2016, $677bn will be spent on cloud services worldwide, $310bn of which will be spent on cloud advertising. "The continued growth of the cloud services market will result from the adoption of cloud services for production systems and workloads, in addition to the development and testing scenarios that have led as the most prominent use case for public cloud services to date," said Ed Anderson, research director at Gartner. "Evidence of this growth is found in the increasing demand for cloud services from end-user organizations, met by an increased supply of cloud services from suppliers." Although there is wide variation between cloud services market subsegments, strong demand is anticipated for all types of cloud services offerings. The cloud business process services segment (BPaaS) is the second-largest market segment after cloud advertising, comprising 28% of the total market in 2012, followed by cloud application services (software as a service [SaaS]) at 14.7%, cloud system infrastructure services (IaaS) at 5.5%, cloud management and security services at 2.8%, and cloud application infrastructure services (platform as a service [PaaS]) at 1%...Read More

Huawei showcases HUAWEI MediaQ M310 at Mobile World Congress

Huawei, a leading global information and communications technology (ICT) solutions provider, showcased the HUAWEI MediaQ M310 at the Mobile World Congress (MWC) 2013. Ideal for families to stay connected, the media cube connects content from smartphones, tablets and TVs, bringing the living room into a smarter era. A small unobtrusive cube, measuring only 14mm slim, the MediaQ M310 has hefty hardware capabilities encompassing multi-screen interactions, media management, video calls and gaming. Powered by a quad core ARM9 processor, the MediaQ enables wireless projection through an HDMI in-connection, and together with a TV screen and an external camera, it provides exceptional video call quality for connecting with family and friends around the world. Its existing 32 GB memory can be further supplemented with Micro SD cards. "In this era of digital evolution for the home, the HUAWEI MediaQ provides an enriched, integrated entertainment experience without the expense of overhauling the technology you already own and love," said Yang Zhirong, President, Huawei Home Devices. "With unsurpassed versatility, the MediaQ acts as a set-top-box, a smart TV and a portal that enables all content to be accessed on any device." The HUAWEI MediaQ’s powerful consolidation function automatically sorts and organizes files from PCs, mobile hard disk drives and other storage devices. The HUAWEI MediaQ is pre-installed with games including Ducati Bike and Breaker’s Revenge II that can be played using tablets or game consoles. Additional accessories include a universal learning remote that controls the MediaQ, Set Top Box (STB), TV, and other digital devices, software converting smartphones into the MediaQ mouse and keyboard controllers, and a type-Y power cord to connect jump drives and mobile hard disk drives. MediaQ M310 was first displayed at the 2013 Consumer Electronics Show (CES) in Las Vegas in January. Price and availability will be announced soon.

East Asian onshore markets to see most AUM growth: Fitch

Fitch Ratings expects growth in asset under management (AUM) to be higher in the years to come in emerging Asia (China, Indonesia, Malaysia and Thailand) than in mature markets such as Singapore, Hong Kong, Taiwan and Korea. The Asian region has a large and growing middle class population with a low penetration of managed products at 5% of total financial assets on average compared with 15% in western countries. During the past few years, growth has been higher in Indonesia, Malaysia and Thailand and in the institutional segment compared with Singapore, Hong Kong, Taiwan and Korea. Unlike other countries in emerging Asia, China has suffered from its equity focus in a five-year bear market and an under-developed debt market until recently. Nevertheless, Fitch believes that a stabilisation/rise in equity markets and recent regulatory initiatives to expand Chinese capital markets will allow the gap to be closed in the next few years. Historically, foreign funds have been distributed in Singapore, Hong Kong, Korea and Taiwan, notably through private banks, wealth managers or financial advisors. As hubs, Hong Kong and Singapore account for USD2trn of offshore funds' assets under management (AUM), largely consisting of European UCITS funds whose number has grown to reach around 6,000 funds in 2012. China and Korea dominate the USD1trn domestic onshore market in East Asia but emerging Asia already accounts for 15% of the region's onshore AUM and continues to grow fast. East Asia is also characterised by a large but concentrated institutional market, consisting of large pension, provident or sovereign wealth funds, often regarded as sophisticated by international asset managers. These institutional investors have built diversified portfolios, with total assets of about USD2.5trn. While Asian authorities have started to discuss a regional passport for funds, similar to UCITS in Europe, the most promising development resides in renminbi-denominated funds, managed out of Taiwan, Singapore or Hong Kong.

China home prices rise for third month: reports

American Homes 4 Rent plans IPO: reports

Ericsson: Mobile World Congress brings networked society to life

This year's keynote was all about Bringing the Networked Society to Life and Ericsson President and CEO, Hans Vestberg showed examples of innovation, and business models that are already coming to life in the Networked Society. In the related content, you can see the main highlights from the keynote in which Vestberg looks out into the future, summarizes the strategic choices that must be made by Ericsson customers, and what Ericsson can provide for them once choices are made.  The keynote also featured the world premiere of the 'Aviciixyou' track which Ericsson and Avicii and Universal Music Sweden have been working on together for the past 40-some days. The worldwide crowd sourced collaboration featuring 4199 artists across 140 countries. This project shows the possibility of what can happen when industries are transformed by networking, collaboration and new technologies. Available material includes an edited package.

Kai Po Che : Five Points Won
IIFL Rating:

As for the story, it reminds you of Nagesh Kukonoor’s ‘Iqbaal’, Farhan Akhtar’s Dil Chahtaa Hai and Zoya’s Zingadi Na Mile Dobara for different reasons. But unlike the Akhtar products, Kai Po Che goes way beyond unfolding the glossy, highbrow intricacies of camaraderie between three friends to convey the reality of life and work in India – how political undercurrents cause religious unrests that trigger social upheavals which in turn shape individual trials and triumphs.

Kapoor is largely helped by Sushant Singh Rajput (who plays the impulsive and lion-hearted Ishaan, the principal protagonist) who breathes life, almost all of it, into the plot. He’s the latest hope in cinemascope and should bag quite a few awards for the sensational debut. Closer to Ranbir Kapoor than Ranveer Singh in every department, he seems perfectly poised for a fruitful career in Bollywood.

The other two, Raj Kumar Yadav (cautious and calculated Govind) and Amit Sadh (rustic, susceptible Omi) provide good support though at times, Sadh looks lost and Raj Kumar goes overboard. For an accomplished actor and a regular face in offbeat movies (and even big banner products like Talaash), Raj Kumar runs the risk of getting stereotyped in sober roles. Hope he gets a break he deserves someday soon. Amrita Puri capitalizes on the fabulous part she played in the Sonam Kapoor disaster ‘Aisha’ that was followed by a long lull of "prakriti ka sparsh" laden endorsements.

For a film based on Bhagat’s novel, Kai Po Che can’t escape melodrama and simplistic twists but Kapoor dexterously builds on the given foundation to create an enduring slice of fiction. He does his best to space out Bhagat’s content-heavy theme that accommodates cricket coaching, earthquakes, riots, elections, love tuitions, Navraatri-brand carnal escapades and pregnancy tests. If certain parts like the Kendriya Vidyalaya sports presentation appear abrupt, one can’t really blame Kapoor.

Despite the fact that Bhagat’s amateurish take (on most things) is tailor-made for the Bollywood cause, Kapoor adds credibility to the story by refraining from garish romanticism. Even the note of collective accomplishment at the end of the film is admirably matter of fact, conveyed through a running cricket commentary. Any other director would have been tempted to set emotions in loose motion. Five points for the director and Rajput, and also a few points for ‘someone’ who paved the way for such potent cinematic possibilities. 

Zilla Ghaziabad: Sab Barbaad!
IIFL Rating:

Before you venture out to suffer this one, there’s a fruitful option at hand. You can watch both parts of Dabangg and Wasseypur over and over again. The ordeal could leave you physically exhausted but you’ll still adore Salman’s charisma and Anurag Kashyap’s inventive drama. More important, you’ll escape the unparalleled mental torture that Zilla Ghaziabad has in store.

But if you are in an outrageous mood to prove the world wrong, this film will provide you with some comic relief. Few pointers:

Relish Vivek Oberoi in a whole, new majboori-mein-militant Gandhian avatar…

Enjoy Arshad Warsi’s desperate attempt to play Salman Khan…

Revel in the peculiar Gujarati-cum-bihari intonation of a jaded Paresh Rawal…

See Munnabhai and his circuit in conflicting camps, for the first time on screen…

Savor a glamorous version of Phoolan Devi, courtesy Divya Dutta…

There could be many more…Go find out for yourself! Courage calls for initiative, fair enough.

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Amit R. Sheth, Managing Director, aurionPro Solutions
Replying to Yash Ved of IIFL, Amit R. Sheth says, "We are seeing traction in new emerging markets like Kenya, Nigeria, Cambodia, Vietnam and Myanmar."...More

Manju Sharma, Director – Operations, Jaypee Hotels
Replying to Yash Ved of IIFL, Manju Sharma says, "We are planning to add around 650 rooms to our new property (upscale business hotel) yet to be launched in Noida very soon."...More

Raymond Bickson, MD & CEO, Indian Hotels Company Limited
Yash Ved of IIFL gives you highlights from a media interaction where Raymond Bickson says "We are planning 13 new hotels and 1521 rooms in 2013-14."...More

Mr. BM Bhorania, Executive Director of Finance, GSFC Ltd.
In an interaction with Anil Mascarenhas and Manu Kaushik of IIFL, Mr. BM Bhorania says, "The capex for Dahej plant will be huge; it would be too early to quantify the same. Yet, I would estimate it would be in the range of Rs.80bn for the four units put together."...More

Vaidya Nathan, CEO and Founder, Classle Knowledge Private Ltd
Replying to Anil Mascarenhas of IIFL, Vaidya Nathan says, "Classle would do for Education and Learning what Google did to organize information and Facebook did for relationships and communication."...More

Yogesh Tiwari, Vice President – Sales & Marketing, Blackberrys
Replying to Anil Mascarenhas of IIFL, Yogesh Tiwari says, "Today, all norms in dressing up are being challenged and the consumer is constantly pushing the envelope – therefore formal wear is getting more dressed up and fun elements are creeping into plain staid formalwear."...More 

Dr. Sreeni Tripuraneni, Chairman & CEO, 4G Identity Solutions
Replying to Yash Ved of IIFL, Dr. Sreeni Tripuraneni said "4Gid has an order book of more than 2bn to be executed in next 12 months."...More

H.A. Mishra, Chairman & MD, Foodesign Hospitality Systems
Replying to Yash Ved of IIFL, HA Mishra says, "FHS has embarked on an aggressive growth trajectory and will soon be launching some of the most advanced and innovative services in the area of F&B Cost Management."...More

Sajjan Bhajanka, Chairman, Century Plyboards (I) Ltd
Replying to Yash Ved of IIFL, Sajjan Bhajanka says "We are eyeing Rs20bn revenue target for FY13."...More

Mr. Pirojsha Godrej, Managing Director & CEO, Godrej Properties
Yash Ved of IIFL provides you the media reaction where Mr. Pirojsha Godrej says "We continue to build strong development pipeline in high growth markets and added two projects with 3.69 million sq. ft. of saleable area in Q2 FY2013."...More

Mr. Alok Sanghi, Director, Sanghi Industries Ltd.
Replying to Anil Mascarenhas of IIFL, Alok Sanghi says, "We reported a net profit of Rs.181.8mn for the first quarter ended September 30, 2012 as against a net loss of Rs.373.5mn in Q1 of previous fiscal. The infrastructure spending will increase, leading to demand growth and stable prices for the cement sector."...More

S Ganesh, CEO, D&B Analytics and Decision Services Limited
Replying to Anil Mascarenhas of IIFL, S Ganesh says, "We convert raw data and information into insights and actionable intelligence. Currently there are some opportunities emerging in verticals like telecom, healthcare, and retail as these industries are also very data intensive and use similar principles to expand their customer base and profitability."...More

NV Subramanian, Co-founder, Sharedcab.com
Replying to Anil Mascarenhas of IIFL, NV Subramanian says, "We aggregate demand for regular daily point to point travel from end consumers and pool them into an AC shared taxi. We're targeting a revenue of Rs.150mn in the 1st year."...More

Dhruv M. Sawhney, Chairman and Managing Director, Triveni Turbines Ltd
Yash Ved of IIFL gives you the highlights of the conference call conducted by Triveni Turbines Ltd after its latest quarterly results where Dhruv M. Sawhney says "Our domestic market order intake continues to improve in Q3 and Q4."...More

Sonya Hooja, Co-founder & Director, Imarticus Learning
Replying to Anil Mascarenhas of IIFL, Sonya Hooja says, "The business model of Imarticus learning is based on two pillars – first one being students and candidates who are looking to begin their career in IB."...More

Suresh Rao, Faculty and Senior Admissions Officer, Imarticus
Replying to Anil Mascarenhas of IIFL, Suresh Rao says, "One of my drivers is to inspire the youth and give them the extra edge through teaching, mentoring & help them succeed."...More

Gaurav Vora, Director, Dynaflex Private Ltd
Speaking with Yash Ved of IIFL, Gaurav Vora says "We are planning to invest US$5mn and will be raising the amount via debt and internal accruals."...More

Vikas Oberoi, Chairman & Managing Director, Oberoi Realty Limited
Yash Ved of IIFL gives you the highlights of the conference call conducted by Oberoi Realty Ltd. after its latest quarterly results where Vikas Oberoi says, "Going forward, we expect residential market to do well. There have been few changes in FSI norms. The new regime will benefit developers."...More

Vineet Nayar, Vice Chairman and CEO, HCL Technologies Ltd
Yash Ved of IIFL provides you the media interaction where Vineet Nayar says "We see significant opportunity because of contract renewal in America and Europe."...More

Rostow Ravanan, Co-founder and Chief Financial Officer, Mindtree
Speaking with Yash Ved of IIFL, Rostow Ravanan says "We have lowered revenue growth guidance to below 11% for the current financial year, from 11%-14% sales outlook."...More

Arun Balakrishnan, CEO, BerkshireInsurance.com India
Speaking with Anil Mascarenhas and Yash Ved of IIFL, Arun Balakrishnan says "Little knowledge can be dangerous and unfortunately what insurance buyers are doing is that they are comparing just the premium."...More

The myth of affordable energy: Ed Dolan
"The US economy is still 15 percent less energy efficient than the average for high-income OECD countries, giving it plenty of room to improve. Switzerland is almost twice as energy-efficient as the US, and the UK is 68 percent more efficient,"...More

Dr Som Majumdar, Director, International Business, KadenBoriss Lawyers
Dr Som Majumdar tells Dolly Mirchandani of IIFL that, "Unless sold, service does not come up to the fore. Again, unless service is given to the satisfaction of customers, ‘sell’ may not be effected next time."...More

RK Jain, Group President - (Corporate Finance and Strategies) Uflex Ltd
In an interaction with Anil Mascarenhas of IIFL, RK Jain says, "Uflex is the only integrated unit of its kind in the world with flexible packaging at its core and focused on innovation."...More

RC Baid, Chairman & Chief Mentor, Siddhi Vinayak Logistics Ltd
Replying to Anil Mascarenhas of IIFL, RC Baid says, "Implementation of GST will give more teeth to the road transport industry and will give it a new platform to further develop logistics concepts."...More

Mr. Rajesh Aggarwal, Managing Director, Insecticides India Ltd
Replying to Anil Mascarenhas of IIFL, Rajesh Aggarwal says, "Statistically organic farming is giving below average results and also the quality for crop suffers. We would invest about Rs1bn in the next 2-3 years and as far as funding plan is concerned we are open and have not zeroed on any one."...More

Shyam Sunder B K, Chief Designer, Industrial Design – Tata Elxsi, India
Replying to Anil Mascarenhas of IIFL, Shyam Sunder says, "Consumers have evolved from simply buying things off the shelf to studying the physical attributes or attractiveness of the container vis-à-vis understanding how a particular product can add value to their purchase."...More

Dr. Ganesh Natarajan, Vice Chairman and CEO, Zensar Technologies
Speaking with Yash Ved of IIFL, Dr. Ganesh Natarajan says "The Company is looking for acquisitions in Europe with a deal size of approximately USUS$20-25mn."...More

Sanjay Monga, Country Manager – India, Asian Panaria
Replying to Yash Ved of IIFL, Sanjay Monga says "Bellissimo plans to invest Rs. 1bn over the next 3-5 years in manufacturing as well as setting up a nation-wide distribution network for luxury tiles."...More

Suman Bose, Managing Director & CEO, Siemens Industry Software
Replying to Anil Mascarenhas of IIFL, Suman Bose says, "The ‘Curiosity’ landing on Mars was one of the toughest engineering challenges ever attempted, and we are proud to be associated with this project."...More

Mr. Devendra Shah, Chairman & Managing Director, Parag Milk Foods
In an exclusive interaction with Hemant P. Maradia of IIFL, Mr. Devendra Shah says: "We hold 1% market share in dairy products but we have a higher market share in value-added milk products."...More

Rajiv Sawhney, CEO & MD, Mahindra Holidays & Resorts India Ltd
Speaking with Yash Ved of IIFL, Rajiv Sawhney says "The growing leisure travel market is seeing newer demands and trends, more discerning consumers insisting on quality, value and differentiated experiences."...More

Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd
Replying to Yash Ved of IIFL, Dhaval Ajmera says "We are planning to invest Rs10bn in the real estate and power sectors in the next five years even as it is looking at exciting, some of its non- core assets including cement business and a land parcel in Bahrain."...More

Saleem Mohammed, PhD, CEO and Co-founder, XCODE Life Sciences
Replying to Anil Mascarenhas of IIFL, Saleem Mohammed says, "Understanding how your personal genetic code influences and affects your health and well being is critical for better health."...More

H.E. Elizabeth Thabethe, Deputy Minister for Trade and Commerce, Republic of South Africa
Speaking with Yash Ved of IIFL, H.E. Elizabeth Thabethe says, "Our primary motive behind India visit is to observe and understand Indian practices in enterprise development, SME support and industrial expansion."...More

Mr. Pratip Chaudhuri, Chairman, State Bank of India
Yash Ved of IIFL brings you SBI’s latest media interaction, where Mr. Chaudhuri said "The objective of the lending rate cut is to improve demand for assets which in our view could have a positive cascading effect on related industries."...More

Harshil Mehta, Chief Executive Officer, Aadhar Housing Finance
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Harshil Mehta says, "On a quarter-on-quarter basis, our loan book has been growing at the rate of 15% to 30%."...More

Mr. Pankaj Seth, Managing Director, Orbit Exports Ltd.
Speaking with Yash Ved of IIFL, Mr. Pankaj Seth says, "Our plans include expanding into the fabrics business. We are also planning to acquire brands overseas."...More

Prashant Saha, Managing Director, CIMGLOBAL
Replying to Anil Mascarenhas of IIFL, Prashant Saha says, "CIMGLOBAL realizes that India is certainly short of quality convention/expo venues, resulting in its failure in attracting large conventions and expo businesses to India."...More

Prasad Shejale, Co-founder & CEO (India), Logicserve Group
Replying to Anil Mascarenhas of IIFL, Prasad Shejale says, "Our USP lies in our strong technology background along with success stories in the UK and European market."...More

N. Chandramouli, CEO, Comniscient Group
Replying to Anil Mascarenhas of IIFL, N. Chandramouli says, "Mahatma Gandhi summarized this Brand tenet succinctly in his statement "Be the change you want to see." In communication terms this can be restated as "Be as you want to be seen."...More

Mr. Mushtaq Ahmad, Chairman & CEO of Jammu & Kashmir Bank
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Mushtaq Ahmad says, "The Bank targets a credit growth of over 25% and deposit growth of over 17-18% for FY13."...More

VA George, President & CEO, Thejo Engineering
Replying to Yash Ved of IIFL, V. A. George says "The domestic market has shown commendable growth with many projects coming up in mining, steel, power and ports sector."...More

Ninad Karpe, MD & CEO, Aptech Ltd
Ninad Kapre replies to Anil Mascarenhas of IIFL and says, "Every testing requirement is an opportunity. However, reach, infrastructure, connectivity and computer literacy can be some challenges."...More

Sajjan Jindal, Chairman and Managing Director, JSW Steel
Yash Ved of IIFL gives you highlights from a media interaction where SAJJAN JINDAL says "The merger completes the integration and aims to capture full value of the combination."...More

Mr. Beas Dev Ralhan, Chief Executive Officer, Next Education
Speaking exclusively to Hemant P. Maradia of IIFL, Mr. Beas Dev Ralhan says, "The company did Rs. 1bn in revenues last year and will do close to Rs. 2bn this year."...More

Deepinder Goyal, Founder & CEO, Zomato
Replying to Anil Mascarenhas of IIFL, Deepinder Goyal says, "Over 4 million Zomato users come to the website every month to search places for dining out, home delivery, catching up or nightlife."...More

Anand Nichani, Director, Polyflex
Replying to Anil Mascarenhas of IIFL, Anand Nichani says, "According to recent studies branded mattress market is approx USUS$200mn out of which luxury is about 2-3 %. We have a mattress for every possible sleeping need."...More

Antony Jacob, CEO, Apollo Munich Health Insurance Company Limited
Replying to Yash Ved of IIFL, Antony Jacob says "The Indian health insurance market is one of the fastest growing portfolios among the non-life insurance category, but still is significantly under-penetrated in comparison with other countries."...More

Mr. Prashanth Prakash, Partner, Accel Partners
In an exclusive interview with Hemant P. Maradia of IIFL, Mr. Prashanth Prakash says, "We continue to believe that there are great opportunities in a broad range of Internet led technologies businesses from Online Media to Saas."...More

Mr. Mahesh R. Shetty, CMD, MT Educare Ltd.
Speaking with Hemant P. Maradia of IIFL, Mr. Shetty says, "Spend on the Education sector is increasing. Almost a third of the income of middle-class families is going into Education."...More

Mr. Rajesh R. Gandhi, Managing Director, Vadilal Industries Ltd.
Replying to Anil Mascarenhas of IIFL, Rajesh Gandhi says, "With the unorganized market covering a large chunk (60%) of the Indian ice cream market and already crowded organized sector, all the big and small brands have to provide myriad choices to consumers."...More

Mr. Gaurav Modwel, CEO, Wadhawan Holdings Pvt. Ltd.
In an exclusive interview with Hemant P. Maradia of IIFL, Mr. Gaurav Modwel says, "We are expecting to turn profitable around the third year of the Sri Lanka Premier League (SLPL)."...More

Ashok Chhajer, Chairman, Arihant Superstructures Ltd.
Replying to Yash Ved of IIFL, Ashok Chhajer says, "We expect the turnover and PAT to increase at a CAGR of 50% and 60%, respectively for the next 6-7 years."...More

Mr. Rahul Bajaj, Chairman, Bajaj Auto Ltd.
Yash Ved of IIFL gives you highlights from CII marketing summit, where Mr. Rahul Bajaj said, "Bajaj Auto has been a value for money brand"...More

Nikhil Kumar, Joint Managing Director, TD Power Systems Limited
"While we remain confident about the longer term prospects for our business, near-term visibility remains uncertain," said Nikhil Kumar during conference call...More

Austin Coutinho, Author, The Games
Replying to Anil Mascarenhas of IIFL, Austin Coutinho says, "In cricket there is a lot of commitment from all concerned - administrators, players, coaches etc. Sponsors are ready to put in money because of the commitment. Other sports are far behind in this aspect."...More

Mohit Modi, Director - Equity Research, CRISIL Limited
Replying to Anil Mascarenhas of IIFL, Mohit Modi says, "Retail investors should look at three things before investing in stocks – fundamentals of the company, valuation levels and their risk appetite. Investments in equity markets depend on one’s risk appetite."...More

Chanda Kochhar, Managing Director and CEO, ICICI Bank
Recognized as one of the most powerful women in the world, the 50-year-old banker, wife and mother-of-two weighs in on whether women really can "have it all" and explains why she leaves her womanhood at the office door...More

David Gerald, Founder, President & CEO, Securities Investors Association (Singapore)
In an exclusive interaction with Dolly Mirchandani of IIFL, David Gerald stresses, "Investor associations—like ours—play an important role in educating investors. But you cannot be the only organisation working for investor improvement; there has to be corporations, stock exchange and regulators who should also educate investors at a national level."...More

Hari Prakash Pandey, VP-Finance, Housing Development & Infrastructure Limited
"We are expecting better demand for the residential segment over the next three to six months despite slack macro economic conditions." said Hari Prakash Pandey...More

Read More Leader Speak...

Industry Newsletters

Agriculture Newsletter - February 18 to February 22, 2013

Automobile Newsletter - February 18 to February 22, 2013

Aviation Newsletter - February 18 to February 22, 2013

Banking Newsletter - February 18 to February 22, 2013

Consumer Goods Newsletter - February 18 to February 22, 2013

Economy Round Up - February 11 to February 15, 2013

FLAME Newsletter - February 27, 2013

Hotel & Tourism Newsletter February 18 to February 22, 2013

Infrastructure Newsletter - February 18 to February 22, 2013

Insurance Newsletter - February 18 to February 22, 2013

IT Newsletter - February 18 to February 22, 2013

Merger & Acquisition Round Up - February 18 to February 22, 2013

Metal & Mining Newsletter - February 18 to February 22, 2013

Mutual Fund Newsletter - February 18 to February 22, 2013

Oil & Gas Round Up - February 18 to February 22, 2013

Pharmaceuticals Newsletter - February 18 to February 22, 2013

Retail Newsletter - February 18 to February 22, 2013

Real Estate Round Up - February 18 to February 22, 2013

Telecom Newsletter - February 18 to February 22, 2013    


What is securities transaction tax
STT is levied on every purchase or sale of securities that are listed on the Indian stock exchanges. This would include shares, derivatives or equity-oriented mutual funds units...More

Are you at risk of computer injury?
"Motion is the lotion for our joints. Movement and activity circulate joint fluid and promotes cartilage health and bone strength. Too much sitting with poor posture for more than four hours daily can indeed lead to degenerative joint process which affects knees, hips and spine, "says Dr Rajeev K Sharma, Senior Consultant Orthopedic & Joint Replacement Surgeon at Indraprastha Apollo Hospital, New Delhi...More

How to convert e-gold into physical
Here are some steps involved in converting e-gold into physical...More

Difference between stocks and bonds
Stocks offer an ownership stake in the company and bonds are similar to loans made to the company...More

Why is it difficult to part with your possession?
The endowment effect says that once you own something you start to place a higher value on it than others would...More

What is Budgeting?
Budgeting is one of the most important skills that you have. Planning and budgeting are crucial when it comes to preserving and growing your wealth...More

What is SX40
The MCX-SX benchmark index—called SX40—is similar to BSE’s Sensex and NSE’s Nifty...More

Tips to avoid online credit card fraud
As the internet trading increases, so does the threat of organized and automated fraud. No longer does the fraudster need to be present or make a phone call to commit a crime...More

Tips to care about your medical insurance policies
Even a descent coverage amount today might look meager in the near future. Medical inflation proves to be high and individuals have to plan for the next 15 years accordingly....More

Important lessons to know when you start the financial life
To get some basic knowledge about how to save and how to invest money, these young guns need to have some basic understanding about these aspects...More

What should I expect from my life insurance agent?
The agent should inform you about the premium you will have to pay for your policy and you need to be informed of the various premium payment terms and options available to you....More

Your Investment Objective and Insurance
Before investing in any insurance plan, it is essential for policyholders to check the nature of plan and if it fulfills their requirements...More

Legends used in bank account statement
A bank account statement offers all transaction details carried out within a defined time period...More

Should you invest in tax free bonds?
The interest earned on tax-free bonds is exempted from taxation. But, the bonds are subject to capital gains tax...More

Mutual fund glossary
Know the terms commonly associated with your mutual funds...More

What to look for in your insurance contract
Personal data provided to the life insurance company forms a very important part for policy servicing and settlement of all claims...More

Concerns about India’s current account deficit
Current account deficit occurs when a country’s total imports are greater than the country’s total exports. This situation makes a country a net debtor to the rest of the world...More

Ethics Wake-up Call: Change Behavior before It’s too late
In the 2013 CFA Institute Global Market Sentiment Survey, 56% of survey respondents said that poor ethics is the main cause of mistrust in the financial industry. Of these, mis-selling by financial advisers tops the list. If you think you’re in that category, be introspective. Ask yourself, "Am I doing the wrong things?" If yes, make a commitment this year to set forth on a path of doing the right things...More

Stock Market Glossary
Know the terms commonly associated with the stock market...More

Understanding General Anti Avoidance
Investment made on or after September 1, 2010 and till March 31, 2016 may attract GAAR provisions until they are compliant...More

What is Nifty BeES?
Nifty BeES, a combination of a share and a mutual fund unit, trades on the capital market segment of NSE...More

Things you must know about making claims
The money from the claim can be received in various ways: In a lump sum, it can be used for clearance of the deceased insured’s debts. Lump sum amounts offer a lot of flexibility...More

Tax Planning: Important that we do our planning timely
Tax planning is not difficult if we take even a wee bit interest in the same. Infact, as I believe it this form of forced savings usually end up saving us from a financial mess, which may happen at the time of our retirement...More

Ten things to know about pension plans
In pension plans, you have to compulsorily buy an annuity plan for 2/3rd of the accumulated corpus...More

Credit score below 700 is dangerous for you
Majority of people troubled with negative credit score are not aware of how to get online credit report. Credit improvement agencies make the whole process simple for you...More

The world needs a pay rise
The survey is significant because when chief executives get worried they start to put off investment choices. They retrench, they make decisions to consolidate rather than expand...More

What is exchange earners’ foreign currency account
An EEFC is an account maintained in foreign currency with a bank dealing in foreign exchange...More

Building a solid health insurance portfolio
If you quit or change your job, you may be left without cover. It is important to get insurance for the entire family, in addition to the cover provided by the employer...More

Are you using a valid cheque book?
Cheque truncation system to provide a more efficient, secure and fast clearing process...More

16 Rules for Investment Success
It is vital that you protect purchasing power. One of the biggest mistakes people make is putting too much money into fixed-income securities...More

Investment covered u/s 80C Income Tax
You must choose the specific investment tool which is in sync with your investment pattern, financial goals and risk appetite...More

Know more about EURIBOR & mortgages
EURIBORs provide the basis for some of the world’s most liquid and active interest rate markets...More

Should you discontinue your ULIP after three policy years?
Most ULIPs especially those from the pre-2010 era—are front-loaded. Only a relatively small amount is available for investment...More

Getting married… Have you heard of a wedding policy?
An average wedding insurance policy covers the threats from fire, theft of jewellery, clothes and other expensive things and even cancellation of wedding due to death and other untoward incident...More

New career trends in 2013: Aspire Human Capital
Last year saw jobs primarily in sectors like healthcare, hospitality and IT/ITES. Apart from these, the other sectors involved in the process of in hiring were non-machinery manufacturing, media and entertainment...More

Know more about car insurance policy & online renewal
Comprehensive policy is optional. However, third-party insurance is mandatory for your car...More

Introduction to Rajiv Gandhi Equity Savings Scheme, 2012
You can invest any amount up to Rs. 50,000 for availing tax benefits in RGESS...More

Money for Nothin’ writing checks for free: Bill Gross
These weren’t Bernanke innovations – nor was the term QE. Many of them had been applied by policy authorities in the late 1930s and ‘40s as well as Japan in recent years...More

Insurance glossary
Know the terms commonly associated with your insurance policies...More

Some little known facts about NPS & NPS Lite
While central and state government employees have to subscribe mandatorily, National Pension System is optional for others. We suggest you understand the benefits of NPS and NPS Lite...More

Tax planning through Muslim Wills
If the marriage between Muslims is registered under the Special Marriage Act, then the provisions of Indian Succession Act would apply and they may make a Will bequeathing their property to any person in any manner and absolutely no restrictions are placed...More

Zero depreciation cover for vehicle insurance
A zero depreciation cover ensures that in case of an accident, you will receive the full claim without any deduction for depreciation on the value of the parts replaced...More

10 commandments on mutual fund investing
A MF NAV is neither too costly nor cheap because a MF unit can’t be costly or cheap. It derives its value from the underlying investment. If the value of the underlying investment goes up, then the NAV will go up and vice versa...More

Damaged or lost? Steps to get a duplicate insurance policy
Read on to know what you need to do to prevent yourself from a financial loss in case you have lost or misplaced insurance policy...More

Health Insurance vs (HospiCase+Surgi+Criticare Plans)
Health insurance is important for the fact that there is been huge cost increase in medical treatments. Health care has increased due to medicine becoming more sophisticated...More

What is mutual fund benchmark & its importance
A scheme’s benchmark is an index that is decided by its fund house to serve as a standard for the scheme’s returns...More

What does your MF account statement include?
A MF account statement offers all transaction details carried out within a defined time period...More

Importance of receiving ITR-V acknowledgement
If you have filed your return online ‘without adding digital signature’, then the process of e-filing is not complete...More

Options to invest in gold
The benefit of long-term capital gains tax is only available after three years in e-gold, unlike gold ETFs and gold fund of funds, where the same is available after one year. Also, like in physical gold, investors are liable to pay wealth tax in case of e-gold...More

Online term plans: Look beyond the price
Online term plans offer you a high cover at minimal cost. Rather than only concentrating on the price, be smart and look beyond the price while choosing your policy!...More

Tax saving instruments: Much more than saving taxes
One must realise that tax saving instruments do much more than only saving taxes. Smart planning with right tax saving instruments adds value to a portfolio. So take a wiser approach and avoid last minute rush for tax saving...More

The fund that protects you from all investment robbers
Never mistake saving for investments otherwise you will be in for a rude shock. You would probably be living in a big delusion because you don’t understand the rules of money...More

Getting acquainted with fixed income ETFs
Fixed income ETFs basically provide regular income, such as interest payments from bonds and dividend payments from stocks...More

Tax planning for your income from house property
The income from a self-occupied property will always be zero or negative—to the extent of interest paid or the specified limit, whichever is lower...More

Micro insurance: Securing the future of low income group
Micro insurance is a kind of a financial service package for poor people that covers their risks by paying a small amount of premium on regular basis...More

Do you know about some unusual insurance policies?
These are unique insurance covers designed for specific individuals and are usually rare...More



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Disclaimer: We take due care in compilation of data, but under no circumstances shall we be legally responsible for the outcome of any action taken on the basis of information given in this newsletter. Investors must make their own investment decisions based on their specific investment objectives and financial position and using such independent advisors as they believe necessary. Indiainfoline takes no legal responsibility for accuracy or completeness of information or advice given. This material is for personal use only. "India Infoline Ltd (IIFL) and India Infoline Securities Ltd (IISL) do not have any positions in any of the scrips recommended and which are currently displayed on the site archives.indiainfoline.com and archives.5paisa.com. IIFL and IISL do not do any deals on their own account (proprietary trading) except for testing and demonstration purposes.IIFL and IISL also has an internal compliance manual in place which restricts the team who analyze and gives information on various companies and investment opportunities, to place orders on scrips only through IISL and only after the said recommendation has been displayed on the above mentioned.