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The production of eight core industries rose by 9.4 per cent in July against a 7.6 per cent decline in the year-ago month, official data released on Tuesday showed. The production of coal, natural gas, refinery products, fertilizers, steel, cement and electricity industries increased in July 2021 over the corresponding period of last year, according to the Department for Promotion of Industry and Internal Trade data. Crude oil production, however, dropped by 3.2 per cent. Core sectors had recorded a 7.6 per cent decline in output in July 2020 due to the impact of COVID-19-related restrictions. The infrastructure sectors had expanded by 9.3 per cent in June 2021. For April-July 2021-22, the sectors grew by 21.2 per cent compared to the corresponding period of last financial year.
By Sunil K. Parameswaran Securities may be negotiable or non-negotiable. Equity shares are negotiable. Some debt securities such as Treasury Bills and Treasury Bonds are negotiable. Others like fixed deposits are not. For instance, let us say that you have an FD for Rs 2,00,000 with ICICI Bank and owe me that much. You cannot sign on the FD receipt and say transferred to someone else. You will have to close the FD, receive the proceeds in your savings account, and then do an online transfer or issue a cheque. This is because an ordinary FD receipt is non-negotiable. Certain large denomination FD receipts are negotiable in the money markets. These are called Negotiable Certificates of Deposit or NCDs. Securities registered or bearer Securities may be registered or bearer. In the case of the former, there is a record of the number of units held by a holder and the identity of the holder. Each time there is a transaction the register is updated. In the case of bearer securities, however, there is no record of ownership. It is like possessing a currency note. If you drop a Rs 500 note on the floor, there is no way that you can prove that it belongs to you. Eurobonds, which are bonds issued in a country, in a currency other than its national currency, are usually bearer. Securities have an associated settlement cycle. This refers to the length of time taken for the buyer to receive the securities, and the seller to receive the funds, after the date of the transaction. Indian equity markets have a T+2 settlement cycle. Which means, if a party in Bengaluru sells shares to a party in Mumbai on a Monday, the former will receive the cash on Wednesday and the latter will receive the securities on Wednesday as well, assuming there are no intervening market holidays. Settlement cycle The settlement cycle may vary from market to market and in the same market from product to product. For instance, T-bills may have a T+1 settlement cycle, while T-bonds may have a T+3 settlement cycle. Certain markets are so small that there is T+0 settlement T+N settlement is referred to as Rolling Settlement irrespective of the value of N. The terms Buy side is used primarily to refer to institutional participants such as mutual funds, pension funds, hedge funds, and insurance companies. Sell side is used for the brokers and dealers who facilitate trades in the market. The implication is that the former are seeking to buy the services of the exchange, while the latter are selling the services of the exchange. Note, buy side and sell side have nothing to do with the buying and selling of securities. That is, a buy side trader may sell securities, while a sell side trader may buy securities. A party who is acquiring a security is said to be taking a long position, whereas if a party borrows and sells a security, and consequently has a commitment to buy in the future, he or she is said to have a short position. The writer is CEO, Tarheel Consultancy Services
A team of Arctic researchers from Denmark say they accidentally discovered what they believe is the worlds northernmost island located off Greenlands coast. The scientists from the University of Copenhagen initially thought they had arrived at Oodaaq, an island discovered by a Danish survey team in 1978, to collect samples during an expedition that was conducted in July. They instead wound up on an undiscovered island further north. We were convinced that the island we were standing on was Oodaaq, which until then was registered as the worlds northernmost island, said expedition leader Morten Rasch of the universitys department of geosciences and natural resource management. But when I posted photos of the island and its coordinates on social media, a number of American island hunters went crazy and said that it couldnt be true, he said in a statement on Friday. Island hunters are known as adventurers whose hobby it is to search for unknown islands. The yet-to-be-named island is 780 meters (about 850 yards) north of Oodaaq, an island off Cape Morris Jesup, the northernmost point of Greenland and one of the most northerly points of land on Earth. The tiny island, apparently discovered as a result of shifting pack ice, is about 30 by 60 meters (about 100 by 200 feet) in size and rises to about three to four meters (10 to 13 feet) above sea level, the university said. The research team reportedly doesnt consider the discovery to be a result of climate change and has allegedly proposed naming the island Qeqertaq Avannarleq, which means – the northernmost island – in Greenlandic. The island consists primarily of small mounds of silt and gravel, according to Rasch. He said it may be the result of a major storm that, with the help of the sea, gradually pushed material from the seabed together until an island formed. The island isnt expected to exist a long time, Danish researchers believe. No one knows how long it will remain. In principle, it could disappear as soon as a powerful new storm hits, Rasch said.
Over 64.36 crore COVID-19 vaccine doses have been provided to states and union territories so far through the Centres free of cost channel and the direct state procurement category, the health ministry said on Tuesday. Further, 14,94,040 doses will be supplied to states and union territories (UTs), it said. The ministry said that 5,42,30,546 COVID-19 vaccine doses – balance and unutilised – are still available with states and UTs. The central government is committed to accelerating the pace and expanding the scope of COVID-19 vaccination throughout the country, it said. The inoculation drive has been ramped up through availability of more vaccines, advance visibility of vaccine availability to states and UTs for enabling better planning by them and streamlining the vaccine supply chain, the ministry said. It said that as part of the nationwide vaccination drive, the government has been supporting states and UTs by providing them COVID-19 vaccines free of cost. Under the universalisation of the COVID-19 vaccination drive, the central government procures and supplies free of cost 75 per cent of the vaccines being produced by vaccine manufacturers in the country to states and UTs.
By Amit Cowshish, Presently, the armed forces are structured around fourteen commands. This number would go down, most probably to five, once the existing commands metamorphose into integrated theatre commands. The race for the top posts has always been tough; with the reduction in the number of available posts and the impending adoption of the Deep selection implies picking up of a suitable officer -not necessarily the senior-most- from a panel of suitable candidates for the identified posts. It is no secret that a miniscule number of the officers of a particular batch reach the three-star rank due to pyramidical structure of the armed forces. Of these, not even one per cent can expect to be accommodated in the posts for which the selection method is proposed to be changed from what can best be described as seniority-cum-merit to merit-cum-seniority. Unsurprisingly, the opinions are divided on the desirability of the proposed deep selection method -it is not unknown at this stage how deep the selectors may go- with more analysts questioning the wisdom of tweaking the present system than those who are in its favour. The opponents of the move argue that even in the present system merit plays an important role in selection of officers for promotion, especially at the higher levels where the pyramid starts peaking sharply. Since the present system has, by and large, stood the test of time, it is indeed unclear what has prompted the government to consider tweaking of the existing selection method and what additional yardsticks can be adopted to measure comparative merits of three-star officers and identify the most meritorious ones for promotion as commanders-in-chief and service chiefs. It is axiomatic that there is not much in terms of professional capability, or potential, that distinguishes one officer from the other at the three-star level, where one takes an average of 35 years to reach after being assessed meritorious enough to be elevated by the promotion boards at several levels. Surely, the government is aware of it. This begs the question as to what basic shortcoming in the present system is sought to be rectified by changing the selection process. One possible explanation is that even if all three-star officers are equally professionally capable, in terms of their experience some officers are more endowed than the rest and, therefore, better suited for the posts in question. It is. Therefore, necessary to discover such officers for taking up the top operational assignments. There is some merit in this view, though it also reflects poorly on the training and career development systems followed by the services. It is no brainer that the deep selection method would result in greater jostling among the three-star officers to acquire the requisite experience. This, in turn, would imply shorter tenures for the officers in staff and command posts, or in other assignments which are considered important for gaining the requisite experience. Of course, this presumes that the government will be able to specify the nature of experience required for promotion and provide equal opportunity to all three-star officers to acquire that experience. This task seems daunting, if not impossible. Consequently, the proposed system will put paid to the rightful aspirations of the officers who are in line for promotion to the coveted posts but not considered meritorious enough to be selected. The superseded officers generally accept their fate gracefully but their feeling of hurt, even humiliation, cannot be assuaged by sweet talk or by proclaiming that while their merit is undeniable, someone junior to them has been found by the selectors to be more meritorious on account of the richness of the latter At any rate, if experience is to be the determining factor in selection, the deep selection method should be christened While the adverse impact of the deep selection method on the affected military officers can thus be mitigated to some extent, the impact it may have on the armed forces as an institution will remain a matter of concern. It is not known as to who will select the officers for the top posts -whether it will be the armed forces themselves or a board that includes civilians and the defence minister. Whatever be the composition of the selection board, the selection process cannot be completely insulated from political influence as appointment of the selected officers will have to be ultimately endorsed by the Appointments Committee of the Cabinet (ACC), composed of the prime minister, who is also its chairman, and the minister of home affairs. The opponents of the move also fear that the officers selected through the deep selection method will be beholden to the selectors, including the political establishment, and that it could affect their professional conduct. The advocates of the proposed change, however, do not agree. For them, this apprehension is misplaced because, as they argue, the service officers do not come in much contact with the politicians and the institutional ethos brooks no political interference. This stand is disingenuous. For one thing, it is not correct that there is not much interaction between the top military brass and the politicians, and for another, political influence is not necessarily exerted through direct interaction. Empirically too, personal prejudices and biases of the selectors do play a role in such situations. The deep selection system would undoubtedly leave a window open for hobnobbing between the aspirants for the top jobs and the politicians -directly or through the bureaucracy- to secure elevation to the coveted posts, and for those who succeed in this endeavour, to return the favour by kowtowing to political nudging in operational matters. This may not become a regular phenomenon, but the possibility cannot be ruled out. It cannot do any good to the armed forces as an institution. Even for the government, the advantage of adopting the deep selection method remain nebulous, at best. As they say, don (The author is former Financial Advisor (Acquisition), Ministry of Defence. Views expressed are personal and do not reflect the official position or policy of Financial Express Online.)
By Srinath Srinivasan Indian entrepreneurs have a strong case today to make social platforms for their fellow citizens. The growing fervour of data nationalism, the vacuum left by the banned Chinese social media channels and the ever growing need of the ordinary Indian to voice his\/her opinion at national and international levels have resulted in the birth of a number of social media apps. While the Indian apps make a strong alternative to the American and Chinese ones, they also are facing a unique problem of understanding the Indian sentiments and a responsibility of working along with Indian policy makers. They can create platforms that can first understand the users better before moderating them, The firm has invested in Koo, which promises to project the voice of the Indians globally. Users in local languages mostly talk about their day-to-day interests and lifestyle. Twitter, by far, does not have this kind of discourse, The question however is whether Indian platforms can have reduced noise, gaslighting and raucousness on their posts unlike Twitter and Facebook? It appears, Indian entrepreneurs are trying out some ways to do it. Pepul, which promises to be the most secure and user-friendly alternative to the Instagram and Facebook story format, is testing out user verification for all and has laid out its own rules of moderation. Then, we introduce something called The platform takes a photograph of the user at the time of signing up, which in actual use does not appear on the users public profile. The ID is their only way to login to the app. In addition, the system recalibrates itself and checks the content real-time for authenticity and abuse, Bharatam, which promises to be the Facebook alternative from Noida, wants to avoid all the controversies that Facebook has been through during its growth. Our teams and systems who will moderate content and address grievances will be based in India and not outside. We will not share or sell user data to anyone for any purpose, While the platforms are optimistic about keeping up the founding philosophy and principles alive, the real test begins when they scale. While the government is calling the platforms to have a conversation on making regulations, the idea of self-regulation by these platforms limits the efforts. There has been no defined self regulatory standard that has been tested and proven to reduce the chaos. The teams that keep up community standards on Facebook, Twitter, et al, sit remotely in the USA, enforcing their standards in other regions of the world. There is no clear preventive approach yet to solve identity based issues on these platforms. The systems today rely on constant user feedback on what is good and appeals to their standards. The biggest challenge and opportunity for both the Indian government and the Indian social platforms are one and the same
The Modi governments Gatishakti scheme, worth Rs 100 lakh crore will provide a framework for the National Infrastructure Pipeline programme as well as make Indian products more competitive by reducing logistic costs and improving supply chains, Union Minister Nitin Gadkari said on Thursday. While addressing the AMCHAMs 29th AGM, the minister said that the government is soon going to launch the national master plan of Gatishakti scheme, which was announced by PM Narendra Modi during his speech on Independence Day. The initiative, according to a PTI report, is set to be launched this month. According to the Road Transport and Highways Minister, development of infrastructure will play a crucial role in the nations aim to become an economy of USD 5 trillion. The supply chain infrastructure of India is getting momentum. Through NIP, the government is investing USD 1.4 trillion in infra development, Gadkari said. The Union Minister also said that through National Highways Authority of India (NHAI), his ministry is planning to raise USD 15 billion through the highways monetisation in the next five years. Considering that there is huge economic potential in India and also there is viability available for pension and insurance funds in Indian road infrastructure, the minister said that they can offer good returns, (and) huge potential of projects that are economically viable. According to Gadkari, India is allowing 100% FDI in the road sector, and for joint ventures, there is a huge opportunity. He also noted that the country is ready to welcome investments in solar energy as well as green hydrogen. The minister claimed to be working for a more sustainable transport system such as ropeways and hyperloops. India is seeking the utilization of innovative technology and materials in construction of roads, and is open to adopting guidelines for use of new materials as well as technology, Gadkari added.
The market valuation of Tata Consultancy Services has breached the Rs 14 lakh crore mark, becoming the second company after Reliance Industries Limited to achieve this milestone. Shares of Tata Consultancy Services (TCS) jumped 2.30 per cent to close at Rs 3,786.55 on the BSE on Tuesday. During the day, it climbed 2.74 per cent to its 52-week high of Rs 3,802.95. With the gain in the share price, the market capitalisation (m-cap) of Tata Consultancy Services, the second most valuable firm after Reliance Industries Limited, rose to Rs 14,00,664.30 crore at the close of trade. The market valuation of Tata Consultancy Services had on August 17 raced past the Rs 13 lakh crore mark. The IT major had in January this year breached the Rs 12 lakh crore market valuation mark. Reliance Industries Limited is the countrys most valuable firm with a market valuation of Rs 14,32,270.38 crore. So far this year, Tata Consultancy Services shares have gained nearly 32 per cent.
TS EAMCET Result 2021 Announced: The results were announced by Telangana Education Minister P. Sabitha Indra Reddy. Students who took taken the engineering, agriculture medical entrance exam can check the result by visiting the official website. Private portals such as Manabadi will also host the TS EAMCET Result 2021. JNTUH has also released Candidates who secure the required cut-off marks for TS EAMCET 2021 will be eligible for counselling and admission. How to check Candidates logging in to the official website will see the TS EAMCET 2021 Results link. Upon clicking on it, they will be redirected to a page where they will need to fill in their registration number, qualifying exam hall ticket number, and birth date. Once the relevant fields are filled, the students will have to submit the form. They will then be redirected to the TS EAMCET Result 2021 page, from where they can download the score card for future reference. TS EAMCET Exam 2021:71 per cent. The engineering exam was conducted in six sessions over three days. The three-hour TS EAMCET Exam 2021 included 160 questions in total, comprising 80 questions in mathematics, and 40 questions each in physics and chemistry. TS EAMCET Exam 2021 Qualifying Marks: Only those candidates scoring a minimum of 25 25 per cent would be eligible for ranking. However, candidates belonging to the SC\/ST categories have no minimum qualifying marks although their admission would be limited as per reserved seats.
With a shortage of coal reported in several power plants amid rising electricity demand, power traded in the Indian Energy Exchange (IEX) touched an all-time high monthly volume of 9,538 million units (MU) in August. The volume traded in the month was about 74% higher than August last year, the IEX said in a statement. The highest electricity trading in IEX was done in the day-ahead market segment, scheduling 6,649 MU in the month, at an average rate of Rs 5.06 This is comparable with the 4,484 MU traded through the day-ahead market in August 2020, at an average tariff of Rs 2.43 As FE recently reported, the price of power in the spot market touched an all-time high level of Rs 20\/unit on August 29, a day after power supply shortage across the country was as high as 77.7 MU. The supply shortage on the same day in 2020 was 2.3 MU, and a paucity of 18.9 MU shortage was recorded on a corresponding day in 2019. While the Rs 20\/unit was discovered for one 15-minute time block on August 29, the average rate of power for the day at IEX was Rs 8.33 The daily average spot power prices ranged between Rs 1.9\/unit to Rs 3.8\/unit in the first week of August, while in the second half of the month, it remained mostly above Rs 5\/unit as coal supply issues became more prominent. Even supply from hydropower stations was less than expected, increasing demand from the spot market. There were 43 market participants at IEX during the month, including discoms from West Bengal, Bihar, Haryana, Telangana, Karnataka, Uttar Pradesh, Maharashtra, Punjab, Assam and Tamil Nadu.