September 2016 - Business and Economy News

• 22nd Issue of Annual issue of India's External Debt has stated that India's External debt is currently US$ 485.6 billion at end of March 2016, increasing by US$ 10.6 billion over previous year.
• Food and Consumer Affairs Ministry issued guidelines to regulate direct selling and multi-level marketing businesses to protect consumers from Ponzi frauds, titled Direct Selling Guidelines 2016 framework following SEBI notifying that it does not have purview to regulate ponzi schemes
• Andhra Pradesh stood first among states in attracting industrial investments in 2015-16.
• Reliance Communications (RCom) and Maxis Communications Berhad (MCB) signed a deal for the merger of wireless business of Aircel Limited with Reliance Communications (RCom). Merged entity will be country’s fourth-largest telecom company in terms of customers and revenue.
• Bombay Stock Exchange (BSE) filed IPO papers with market regulator Securities and Exchange Board of India (SEBI) for its Initial Public Offering (IPO). The move is first of its kind by any stock exchange in India.
• Asian Development Bank (ADB) sanctions $631 million loan for India’s first coastal industrial corridor between Visakhapatnam (Vizag) and Chennai. 
• Cabinet Committee on Economic Affairs (CCEA) approved winding up of Hindustan Diamond Company Private Limited (HDCPL)
• Cabinet Committee on Economic Affairs approved ‘Project SAKSHAM’ as the  New Indirect Tax Network (Systems Integration) of the Central Board of Excise and Customs (CBEC). The total cost of the project would be 2256 crores, to be incurred over 7 years.
• Central Board of Direct Taxes collected Rs. 65,250 crores as part of the Income Disclosure Scheme 2016.
•  Goods & Services Tax (GST) Council decided to exempt businesses with annual turnover below 20 lakh out of GST net.
• Government approved drought assistance of Rs. 1269 crore for Maharashtra.
• formation of Goods and Services Tax (GST) Council and Creation of the GST Council Secretariat in New Delhi approved by Government
• As a part of budget reforms, Government approves merger of Railway budget with General budget and removal Plan and non-plan expenditure bifurcation in the union budget.
• Government approved simplification of Foreign Direct Investment (FDI) Policy 2016. Some prominent changes are:
• FDI beyond 49% has been permitted through government approval route, in cases giving access to modern technology for the country or for other reasons.
• Entities undertaking single brand retail trading have been relieved from local sourcing norms up to 3 years that were put earlier. Entities in single brand retail trading of products having ‘state-of-art and ‘cutting edge technology have been relieved from local sourcing norms up to 5 years.
• Government approved to raise 31300 crores in FY 2016-17 to boost infrastructure spending.
• Government notified constitution of Six Member Monetary Policy Committee (MPC) with
• Government raised salary cap of beneficiaries to Rs.21,000 per month from Rs.15,000, to be eligible for Employees State Insurance (ESI).
• Department of Commerce amends Merchandise Exports from India Scheme (MEIS) to give further  fillip to exports.
• New products introduced under the ambit of MEIS to take the total coverage to 7103 item.
• HDFC Bank named India’s most valuable brand by the BrandZ Top 50 list released by WPP Group.

Tat Tvam Asi

Whatsapp message shared with me in a group on 18/11/2016

Succint explanation for how Spirituality transcends Religiousity

கடவுளை
காண்பது
எப்படி???

ஓஷோவிடம்
ஒரு Super
Question,,,,,

காண்பது என்பது இங்கே தவறு.

கடவுள் ஏதோவொரு ஆசாமி என்பதைப் போன்று பதிப்பினை இது ஏற்படுத்துகின்றது. அவரை பார்க்க என்றொரு கருத்தை இது தருகின்றது

இதைப் போலத்தான் கடவுள் எனும் வார்த்தையும் இதுவும் கூட ஒரு நபரை குறிப்பதைப் போலத்தான் பயன்படுத்தப்படுகின்றது.

கடவுள் கிடையாது. இறைமை தான் உள்ளது. கடவுள் என்பவர் நபர் அல்ல அது சக்தி. எல்லையற்ற சமுத்திர அளவு சக்தி.

கடவுள் தன்னைத்தானே அனைத்து வடிகால்களாகவும் வெளிக்காட்டிக் கொள்ளும், எல்லைகளே இல்லாத முடிவற்ற பிரக்ஞை.

ஒரு படைப்பாளி,, என குறிக்கவல்ல தனியொரு நபர் கிடையாது கடவுள்.கடவுள் தான் படைப்பு. படைக்கும் திறன் வாழ்க்கை.

நான் எனும் அடையாளம் கரைந்து காணாமல் போய் விட்டால், முடிவற்ற, எல்லையற்ற, படைப்பாற்றல் மிக்கதொரு வாழ்க்கை விசை நமக்குள் அனுபவமாகின்றது. அதுவே கடவுள்.

நான்,, என்னும் திமிரின்சாவில் ஒருவன் கொள்ளும் அனுபவமே சாமியின் தரிசனமாகும்.

அதனுள் நீங்கள் இருப்பீர்கள். நீங்கள் தான் அது. பிரபஞ்சம். அனைத்தும் உங்களுக்குள்.இந்த அனுபவம் தான் "கடவுள் தரிசனம் "

கடவுளைப் பற்றிய என்ன காட்சியை நீங்கள் காண முடியும்?கடவுளுடன் ஒருவன் தனக்குள்ளேயே கலந்தாக வேண்டும்.

ஒரு நீர்த்துளி சமுத்திரத்தைப் பற்றி என்ன தரிசனத்தை பார்க்க முடியும்? ஆனால் அது தன் அடையாளத்தை இழந்து விட்டு சமுத்திரமாய் ஆகி விட முடியும்.

அதற்கும் சமுத்திரத்திற்கும் இடையே நிரப்ப முடியாத நீண்ட இடைவெளி இருக்கும். ஆனால் அது தனது அடையாளம் முழுவதையும் விட்டு விட்டு சமுத்திரத்தில் கரைந்து விட்டால், அதுவேதான் சமுத்திரம்.

கடவுளைத் தேடுகின்றீர்களா? கடவுளாய் எப்படி மாறுவது என்பதற்கான வழியை தேடுங்கள்.

இத் தேடுதலுக்கான பாதையும், சமுத்திரத்திலே கலக்க ஒரு நீர்த்துளி மேற்கொள்ளும் பாதையும் ஒன்றுதான்.

ஓஷோ
தியானத்தின் பாதை,,

Valli Nayakane- Shanmukapriya.

A less popular Harikesanallur Muthiah Bhagavathar's Composition "Valli Nayakane" in the Raga "Shanmukapriya" broadcasted in AIR.


Valli nayagane_Shanmukapriya.mp3


Another famous composition in Raga Shanmukhapriya by T.K.Bala sung by Trichur brothers. No words to describe the beauty in the Bhavam brought by these precocious people.

August,2016 - Business and Economy News

• RBI estimates India’s growth rate to be 7.6% for FY 2016-17 in its annual report for the FY 2015-16.
• After Assam, Bihar ratified the Constitution 122^nd Amendment Bill for the introduction of GST in the country.
• Cabinet approved foreign Investment through automatic route in NBFC-s entity which are regulated by any financial sector regulators. Those not regulated will have to get the approval of FIPB approval.
• Centre notified Inflation target of 4% until 2021 with an tolerance band of +/- 2% i.e. 6% or 2%. If CPI is out of this range for 3 consecutive years, it will constitute a monetary policy failure.
• Hindustan Copper Limited launched India’s first Nickel producing facility at Ghatshila, Jharkhand
• Centre imposes a penalty of USD 380 Million(Rs. 2500 Crore) Reliance industries limited for failing to achieve the target production at KG D6 fields.
• India’s economic growth rate in first quarter of 2015-16 is 7.1%.
• Jharkhand became first state to implement Public Fund Management System (PFMS), which aims tracking fund disbursement on real time basis from government to various levels.
•  Sports channel Ten Sports  sold by Zee Entertainment Enterprise (ZEEL) to Sony Pictures Networks for $385-million (about Rs 2,579 crore)
• Parliament passed Enforcement of Security Interest and Recovery of Debts Laws Amendment Bill 2016. It amends Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002, Recovery of Debts due to Banks and Financial Institutions Act (RDDBFI), 1993, Depositories Act, 1996, Indian Stamp Act, 1899. It allows District Magistrate (DM) to take possession of the collateral of the defaulter within 30 days of default.
• Reliance Cement Company Private Limited accquired by Birla Corporation Limitedfor 4800 crore rupees
• RBI launched http://sachet.rbi.org.in/ which facilitates  people to know about entities allowed to collect deposits.
• Securities and Exchange Board of India (SEBI) told Supreme Court that Ponzi schemes are not under its ambit  and the respective State Governments are law enforcement agencies to curb Ponzi Schemes in response to SC’s question that what government and SEBI  were doing to curb the menace of ponzi schemes. 
• Goldman Sachs has predicted Indian economy to grow at 7.9% in 2016-17.
• Syndicate Bank, launched fund transfer based on ‘Aadhaar Number through NUUP(National Unified USSD Platform)’, using an ordinary mobile phone without internet connection.

Some Phone numbers that could come handy during Rainy season

• Power failure - 1912

• Tree fall/ Water stagnation - 1913

• Sewage overflow - 45674567

• Fire-101

• Forest department - 22200335

• Blue cross - 917602526

Reproduced from "Downtown" edition of "The Hindu" dated 26.08.2016

Balaji Darshan

I was very excited looking forward to have the darshan of Balaji Sir, who made it to the event in White shirt and Vetti arousing pride in me. ( I said to myself “Thamizhan da”. It was after that he said the reason behind his costume for the day. :P)

To tell about the lecture, it was an eye-opening talk by Balaji Sir at IIT-M. It is not the first time that I negate the fairness of our educational system, which is supposed to develop wise humans out of children. In fact, most of us would heresy our educational system. But when someone pinpoints the flaws and with comes up brilliant solutions to cleanse the dirt, it inspires us. Needless to say, Balaji sir inspired us on 13th August 2016 at Central Lecture Theatre of IIT-M.

I would quote some of the bright ideas that were emitted out of his wisdom that day.

· “62,290”

This is the number of Student suicides that happen every year in India.

My thought: Education is one among the instruments that Homo sapiens use for evolution. But the way we conceive and boil tender minds is reflected in the obscenity of the fact. This fact simply tells that all the while we have taught children that to fail is to get humiliated losing our worth.

· More suicides happen in the age group “15-29” than any other age group.

· The nation’s youth population is 35 Crore. This is more the combined youth population of the nations USA+ Russia+ China+Japan.

· Failure of proper nurturing of this power would boomerang. The uncared youth might have to resort to wrong ways to subsist and he is a threat to the society.

My thought : The fact is already evident from what we see across nation where the youths of nation resort to harsh ways to get their demands fulfilled – Kashmir backlash, Bus day celebrations in our own Chennai etc… We should be reminded of the fact It is our non-inclusive system that stands as the epicenter for the problem. Until the cause is cured, the effects out of the cause will rise again and again.

· Quoting “Daniel Pink” from his book “ The whole new thing”, he said Indians are now at conceptual age, where creation, metacognition and innovation plays a sound role. We fail to teach children how to implement theory in practice.

Know more about this @ http://empathyed.org/index.php?o...

https://en.wikipedia.org/wiki/A_...

· He quoted Yogi berra’s statement :

“ In theory there is no difference between theory and practice; in practice there is. “

· Indians created more startups than anyone else in silicon valley.

· 1/3 rd of the silicon valley startups are of Indians.

During the interaction session with audience, he shared his thoughts on startups which are as follows :

· Donot quit too soon.

· Anything good would see excess demand. It is up to you to distinguish yourself.

· Don’t hesitate to start up when you are a student. As a student your mistakes will be tolerated.

· If you want to start, do it right now.

· Marks are absolutely trivial to judge someone’s caliber.

· It is completely unfair to let a 15 year old to put under pressure and make him choose a avenue that he should pursue after his 10th grade. At the best, he can have a hypothesis.

Even after the formal interaction session, he was so polite that he addressed informal questions asked to him with absolute humility. Something we all should observe, when knowledge combines with humility, nothing can be more beautiful than that state. After the session, I had the fortune to meet his father Viswanathan along with Balaji sir’s son. He is no different - Humility personified, so kind in words.

The following Kural, one of my most favourite flashed in my mind.

மகன்தந்தைக்குஆற்றும்உதவிஇவன்தந்தை என்நோற்றான்கொல்எனும்சொல்.

Important Business News between 20th July, 2016 and 31st July 2016

·         Airtel to acquire the 4G spectrum of Aircel in 8 Telecom circles including Tamil nadu, Odisha

·         Delhi high  court restrained workers union of 5 associate banks of SBI from going strike.

·         Nirma Ltd to buy Lafarge India’s Cement assets in a deal worth $1.4 Billion.

·         British Oil and Gas explorer Cairn Energy has sought a compensation $5.6 Billion for breach of UK-India Investment treaty at an International arbitration panel for IT department making a retrospective tax demand. If the Arbitration panel fails to order in favour of Cairn Energy Ltd., it has said it should be compensated for the loss of value of shares amounting to $ 5.587 Billion.

(http://www.theweek.in/news/biz-tech/cairn-energy-seeks-usd-5-6-bn-compensation-from-india.html)

·         BSE has introduced online bidding platform for Sovereign Gold bonds after receiving approval from RBI

·         Reliance Jio to offer free Local and ISD voice calls along with 4G Voice and data services.

·         Cabinet Committee on Economic affairs has approved 15% stake sale in National Buildings Construction Corporation Ltd(NBCC) which is expected to yield Rs.1706 Crore.

·         India Ratings Ltd has projected a Loan CAGR of 9% during the period FY16-19 due to limited capital availability.

·         The Income declaration scheme due dates have been staggered that:

o   25% of the payments shall be paid before 30.11.2016

o   Another 25% of the payments shall be paid before 31.03.2017

o   remaining shall be paid before 30.09.2017

·         SIT on black money has recommended Supreme court that

o   Cash payments in excess of Rs. 300,000/- be banned

o   Possession of cash in excess of Rs. 15,00,000/- be banned.

·         Union road transport minister Nitin Gadkari has offered US electric car manufacturer Tesla land near Major Indian ports to have India as its manufacturing hub in Asia.

·         Unified Payment Interface to become operational this month- Raghuram Rajan.

(Know more about API@ http://www.thehindu.com/business/Economy/unified-payments-interface/article8470746.ece)

·         Changes to Benami Transactions (Prohibition) act,2015 gets cabinet nod. The proposed changes include confiscation of Benami property other than those declared under Income disclosure scheme

·         Income tax department to issue 7 Lakh letters to Individuals seeking details of high value transactions made during the last 8 years without PAN information

·         Amendment to Contract Labour (Regulation and Abolition) Central rules, 1971 to raise the minimum wages to Rs.10,000 stalled after facing objection from various interest groups.

·         A workers union has moved to Delhi high court against Food Corporation of India’s move of hiring contract laborers. Earlier labour ministry issued a notification for hiring contract labourers for FCI going against the recommendation of its own advisory council. Various notifications since 1985 have prohibited hiring of contract labourers for FCI. The recent notification denotified all the prohibitions instituted hitherto.

·         Essar group has decided to sell 73% of its stake in Essar oil to reduce its corporate debt which has heaped to the tune of Rs.100,000 Crore.

·         Labour ministry’s decision to invest in ETF  the funds of EPF is too early in the current market scenario : Finance and Investment Panel of EPF

·         Sanjiv Puri appointed as the new COO for ITC

·         RBI has imposed Rs. 27 Crore penalty on 13 banks including HDFC, Bank of Baroda, PNB for violation of KYC norms and Anti-money laundering norms.  It has also warned 8 other banks including Kotak Mahindra, Axis bank, ICICI, SBI.Federal bank, OBI.

·         Centre approves Foreign stock exchanges, depositories, banking companies and commodity derivative exchanges to own upto 15% in Indian stock exchanges.

·         India’s GDP growth for FY 16-17 may rise up to 7.9% : CRISIL

·         The Union cabinet has approved to remove the additional levy of 1% by manufacturing states and 100%  compensation of revenue loss to the states for 5 years.

·         R.Sheshayee steps  down as Ashok Leyland Non-executive vice chairman ending his four decades of affiliation with Ashok Leyland.

·         Centre to issue demand notice worth Rs. 12,400 Crore to 6 telecom companies including Airtel, Idea, Vodafone after CAG’s report indicting underreporting of revenues by the telecom companies.

·         SEBI to ease listing norms by doing away with the clause that imposes a cap of 25% on the shareholding by a individual together with the Person acting in concert in an entity.

·         India looking for options to counter trade sanction that US is trying to impose on India to the tune of $ 452 million on the ground of violation WTO order in poultry import ban case.

·         Centre infuses Rs. 22,915 Crore  of capital to the Public sector banks as part of  its programme “Indradhanush” launched last year.

·         Employee’s compensation act,1923 to be amended with new  provisions such as:

o   Penalty in the range of Rs. 50,000-Rs.100,000 in case of failure to report by employer about accident in the premises of employer.

o   No appeal against labour commission order by the employer in case of compensation upto Rs.10,000/-