A Progressive Budget for Future Kerala
Mr. K. M. Mani Minister for Finance Govt. of Kerala 1
Pepper Award 2012
Startup Village
BrandKerala
July 2011
The New Face of KFC
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BrandKerala
July 2011
Vol 2
Editor’s Note
No.03
April 2012
Pages 56+2
Complexity and Velocity of Change While observing the present political scenario of Kerala…one thing is sure, we will realize how these politicians along with few leaders of religious oragnisations can easily land up us in the middle of no mans land. They simply turn the pleasant situation to a totally confused state. Initial months of the new Kerala government’s administrative ability shows, how efficiently Mr. Oommen Chandy, our Chief Minister turned every adverse situation in our state to an investment friendly atmosphere. Overall feeling from the trade and industry is very positive and common mass also expected many more tricks from the magic wand of Mr. Chandy. He comfortably lead from the front for an easy victory at Piravom bye election, a very progressive budget for a brighter and better Kerala by Mr. K.M. Mani, Finance Minister, lot of new entrepreneurial start up in different sectors, transparent governances and mass public contact programme across the state proves Mr. Oommen Chandy will lead our state to a new horizon. But, within days everything gone upside down. Now many political observers raised their eye brows about the future of the current UDF government in Kerala. According to recent World Economic Forum reports, Mr. Klaus Schwab, the WEF Founder and Executive Chairman, says, “Across every sector of society, decisionmakers are struggling with the complexity and velocity of change in an increasingly interdependent world. The context for decision-making has evolved, and in many cases has been altered in revolutionary ways. In the decade ahead, our lives will be more intensely shaped by transformative forces, including economic, environmental, geopolitical, societal and technological seismic shifts. The signals are already apparent with the rebalancing of the global economy, the presence of over seven billion people and the societal and environmental challenges linked to both. The resulting complexity threatens to overwhelm countries, companies, cultures and communities. Mr. Schwab notes that “We need to explore and develop new conceptual models which address global challenges”. This is the global situation with respect to 50 most risk factors, which affects our present day world, but when we cross examine the points in the report, we will surprise, WEF prepared this report after evaluating present political and social situation of Kerala. Many points are very similar to present day Kerala. Chief Minister alone working hard, no body to support him, nobody is willingness to take the responsibility, the single handed trying to row the boat. How long and how far? That is the biggest question of today. Only ray of hope is couple of able Ministers and a team of efficient bureaucrats headed by new Chief Secretary of Kerala Mr, K. Jayakumar is ready to take up any challenges. Hope the coming days will find out answer for the present crisis and move forward Kerala, with a slogan. Move forward, With Caution!!! Ravisankar K.V. Editor 3
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Content 08
20 Stark does it again at Pepper 2012
Campaign to woo business, trade tycoons
Automobile
brand
Mini Avatar of Xylo
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New Tyre from Michelin
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Maruti sets up Diesel Engine Plant
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More India-Specific Products from Whirlpool
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Carmakers in a Race to Hike Prices
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Banking
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Bharosa Gold Loan from HDFC
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Federal Bank adds 100 more branches
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SBT ATM at Airport
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IDBI Mutual launches Dynamic Bond Fund
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SBT Records Good Growth
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New IOB branch@ Kilikollur
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Pankaj Enclave -Quality on Time BrandKerala
April 2012
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tECHNOLOGY Samsung to Boost Sale of Tablets
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Budget to Enhance Infopark
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iSave to Save Women
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face to face
Builders 4
A Wonderful Metabolism in Kerala on the Anvil
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The New Face of KFC
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Managing Editor: Ravisankar K.V. Executive Editor: Rajani A. Copy Editor: Liza Shajan Associate Editor: Gopalakrishnan Pallath Assistant Editor: Shilo K.Dev Sub Editor: Chandni Mathur Photo Editor: Hari P.S. Chief Layout Artist: Vijayagopalan G. Production Executive: Vishnu C.P.
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Co-ordinator - Online Edition: Sreeram Sethunath
Outlook Brighter for Next Fiscals
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Kerala Budget 2012 - 13
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Emphasis on Traditional Industries
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Greenfield Vizhinjam Seaport
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Happy Days for Alappuzha
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Mumbai: Satyanath.K.V Mob: +91-9833677962
Josco @ Thodupuzha
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Bengaluru: Damodaran.K. Nayar Mob: +91-9035616040
New Panchakarma Ward
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Pondicherry: Ramasubramanian Mob: +91-98949 77161
Santhigiri Fest
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Startup Village
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Milk and Milk by CAMPCO
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Coir Museum@ Alappuzha
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Emmanuval Silks @Kottayam
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Satmetrix launched new software
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Cover Story A Progressive Budget for Kerala
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Prominence for Industrial Infrastructure
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1,000 Crore for Roads and Bridges
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here and now Marching Towards Super Economic Power‌
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Mr. Pranab Mukherjee, Union Finance Minister with Top Officials of MoF before proceeding to present Union Budget at Parliament
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he Economic Survey 2011-12, presented by Mr. Pranab Mukherjee, Union Finance Minister, however predicts 7.6% GDP growth in 2012-13 and 8.6% in 2013-14. With agriculture and services continuing to perform well, the slowdown can be attributed almost entirely too weakening industrial growth. The services sector continues to be a star performer as its share in GDP has climbed from 58% in 2010-11 to 59% in 2011-12 with a growth rate of 9.4%. Similarly, agriculture and allied sectors are estimated to achieve a growth rate of 2.5% in 2011-12 with foodgrains production likely to cross 250.42 million tonnes owing to increase in the production of rice in some States. The industrial sector has performed poorly, retreating to a 27% share of the GDP. Overall growth during April-December 2011 reached 3.6% compared to 8.3% in the corresponding
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period of the previous year. The Survey points out that inflation as measured by the wholesale price index (WPI) was high during most of the current fiscal year, though by year end there has been a clear slowdown in price rise. Food inflation, in particular, has come down significantly, with most of the remaining WPI inflation being driven by non-food manufacturing products. The growth rate of investment in the economy is estimated to have registered a significant decline during the current year. The year witnessed a sharp increase in interest rates that resulted in higher costs of borrowings; and other rising costs affecting profitability and, thereby, internal accruals that could be used to finance investment. But despite the low growth figure of 6.9%, India remains one of the fastest growing economies of the world as all major countries including the fast growing emerg-
ing economies are seeing a significant slowdown. The Economic Survey expects the growth rate of real GDP to pick up to 7.6% in 2012-13 and faster beyond that. The main reason for a gradual recovery is the decline in overall investment rate. Gross capital formation during the third quarter of 2011-12 as a ratio of GDP was at 30%, down from 32% one year ago. Preliminary calculations suggest that the growth rate of GDP in 2013-14 will be 8.6%. These projections are based on assumptions regarding factors like normal monsoons, reasonably stable international prices, particularly oil prices, and global growth somewhere between where it now stands and 0.5% higher. The Economic Survey suggests that the progressive deregulation of interest rates on savings accounts will help raise financial savings and improve transmission of monetary policy. Other key areas include the deepening of domestic financial markets, especially corporate bond market and attracting longer-term inflows from abroad. During the first half of 2011-12, India’s export growth was a high 40.5%, but has been decelerating since. Imports have growth rapidly, by 30.4% during 2011-12 (April-December). Similarly, country’s Balance
of Payments has widened to $ 32.8 billion in the first half of 2011-12, compared to $29.6 billion during the corresponding period of 2010-11. The foreign exchange reserves increased from US $ 279 billion at end March 2010 to US $ 305 billion at end March 2011. Reserves varied from an all-time peak of US$ 322.2 billion at end August, 2011 and a low of US $ 292.8 billion at endJanuary, 2012. The Survey recognizes that sustainable development and climate change are becoming central areas of global concern and India too is equally concerned and engaged constructively in global negotiations. Climate change challenges ahead are large and India is doing more than its fair share in reducing its energy-intensity of growth. India is now much more closely integrated with the world economy as its share of trade to GDP of goods and services has tripled 1990-2010. At the same time, the extent of financial integration, measured by flows of capital as a share of GDP, has also increased dramatically and the role of India in the world economy has commensurately expanded, along with the other major members of emerging markets.
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erala is all set to kick-start a massive campaign to position itself as one of the most favourite business destinations in India and become a global hub of economic activity, with the goal of achieving an all-inclusive, rapid and sustainable growth. Mr. Oommen Chandy, Chief Minister of Kerala and Mr. P.K. Kunhalikutty, Industries Minister along with other ministers and senior officials, will meet top business leaders and overseas diplomats in New Delhi on April 20, signalling the launch of a six-month-long build-up to one of the biggest investment branding exercises the state has ever undertaken. ‘Emerging Kerala’ – a three-day global connect opportunity for business leaders, investors and policymakers which offers a platform for two-way discussions and bilateral trade – will be organised in the commercial hub of Kochi in September. In the run-up to this mega event, the state government has lined up a series of interactive sessions, domestic and international road- shows, business meets and conclaves to showcase the state’s investment potential and businessfriendly policies. On Friday, April 20, 2012, Mr. Oommen Chandy, Mr. P.K.Kunhalikutty and senior state officials will meet the Ambassadors and High Commissioners of over 30 countries as well as representatives of multilateral and bilateral agencies for discussions. Besides several Union Ministers, Mr. T.K.A.Nair, Advisor to the Prime Minister, and Mr.
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K M Chandrasekhar, former Cabinet Secretary and Vice Chairman of the Kerala State planning Board, will interact with the diplomats. This will be followed by a meeting with the leading industrialists and business leaders in the evening. As an investment destination, Kerala has plenty to offer. It ranks among the best in India in nearly all social and economic indicators. The state has the highest literacy rate in India, a human resource development index on par with that of developed nations, and the highest density of science and technology personnel. Highly skilled manpower, top-class infrastructure and excellent domestic and international transport connectivity add to the advantage. There is no dearth of investment opportunities either, with a series of mega infrastructure projects in the pipeline, including a High Speed Rail Corridor connecting north and south Kerala, Kochi Metro Rail, Thiruvananthapuram Mono Rail and Kannur international airport. Emerging Kerala is being organised in partnership with the Confederation of Indian Industry (CII) and the National Association of Software & Services Companies (NASSCOM). The Kerala State Industrial Development Corporation (KSIDC) is the nodal agency for the summit. “The goal of this branding exercise is to catalyse growth through enabling policies and to facilitate an environment for investment. We need to highlight the fact that Kerala is a very lucrative, investor-friendly destina-
News
tion,” said Mr. Alkesh Sharma, MD, KSIDC. Emerging Kerala is intended as a biennial event and this year the emphasis will be on a review of the Kerala’s hugely successful social model to see if it can be adapted to achieve sustainable economic growth. Top on the priority list for the government is easing regulatory procedures for investors. The state’s Single Window Clearance system for speeding up approval of industrial projects is going online and growth-inhibiting legislations getting amended. The government has now constituted a state-level committee, headed by the Chief Secretary, to look into each new project and approve special facilitation, incentives and concessions. For large and medium scale projects, the State Board is expected to issue clearance within 45 days, speeding up the process considerably. Over two dozen sectors will be showcased at the Emerging Kerala summit, and among the core ones are IT and IT enabled services, tourism and medical tourism, food and agro processing, ports, shipbuilding and logistics, education and infrastructure development. In keeping with the premise of sustainable economic growth, there is considerable focus on environmentfriendly industries and enterprises such as green energy and water technologies. Various state departments, public sector units and
agencies have drafted project profiles for presenting to potential investors. The government is also keen to highlight its pro-active forward-looking policies on Industry and Commerce; Information and Communication Technology (ICT); Tourism; and Labour. But Emerging Kerala is expected to be much more than a display window for the state’s multiple attractions. “Our goal is to facilitate two-way trade. We want to create a platform for corporates, financiers and business leaders to discuss, debate, deliberate and decide on the path of development that is relevant for economic growth and social development of Kerala. We will try to create an enabling environment for them to do business in Kerala and at the same time want our investors to explore opportunities overseas and become global players. This bilateralism is vital for sustainable economic growth,” Mr. Alkesh Sharma added.
www.tourismindia.travel www.brandkerala.biz www.keralatourismmagazine.com 9
BrandKerala
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Cover Story
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he State Budget for 2012-13 presented to the Assembly has sought to even out enhanced spending through a matching tax mop-up effort. The following are the major proposals of the Budget for 2012-13 presented to the Assembly by Mr. K. M. Mani, Finance Minister for Kerala. Additional resource mobilisation of Rs 1,512.05 crore is being undertaken mainly through migration of VAT slab rates from 4-12.5 per cent to 5 to 13.5 per cent. The revenue accruing through this exercise alone is Rs 1,000 crore. The effective revenue deficit (after providing for grants for creation of capital assets) is estimated to be Rs 210.76 crore. Capital expenditure being committed is estimated to be Rs 6,354.88 crore against the revised Budget estimates of Rs 4,929.15 crore. The carryover deficits were Rs 605.22 crore at the beginning of the year and Rs 361.24 crore towards the end. Total exemptions announced amount to Rs 321.40 crore in the Budget estimates for 2012-13. After setting this off against the additional revenue mobilisation, the year is estimated to leave a deficit of Rs 289.25 crore. The Finance Minister announced VAT exemptions with respect to some essential items, including pulses and edible oil. VAT on several provisions slashed to 1%. He proceeded to reduce the rates on these items from the prevailing 4 per cent to 1 per cent to rationalise them with applicable rates for rice. The other major tax revenue mop-up exercise was with respect to road tax, in which the Finance Minister announced a major change in the base of assessing tax. Tax will now be levied based on the purchase value of the vehicle across Mr. K. M. Mani Finance Minister
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graded slabs, again in line with the regime in neighbouring States. Currently, the tax is arrived at based on a combined base of the respective cubic capacity and purchase value of the vehicle. The new method of assessment of the road tax is expected to fetch an additional Rs 115 crore to the exchequer. Road tax on private vehicles hiked. Normal VAT rates to go up by 1%. The finance Minister announced waiver of the social security cess of one per cent applicable on the VAT rate. Cigarettes and similar class of products except beedi would now invite VAT of 15 per cent from existing rate 12.5 per cent. Pan masala and other tobacco-based products – 22.5 per cent from 20 per cent. These are expected to generate additional Rs 76 crore in revenue. Plastic carry bags – 20 per cent from 12.5 per cent. Full exemption announced for cloth bags. Social security cess on IMFL is being raised from 6 per cent to 10 per cent. This is expected to generate an additional Rs 90 crore in revenue. Land tax raised to Rs. 2 a cent. Social security cess on IMFL rose to 10%. Honey, hives and apiary implements exempted from tax. No tax on intra ocular lens, heart valve and cardiac stent. Tax on powdered tamarind seeds goes. Ayurvedic products classified as cosmetics to cost less. Tax on chips, ginger-coffee mixture in air-tight containers slashed. Tax on packaged coconut water reduced to 5 %. Tax on e-toilets, cradles lowered to 5 % Other highlights includes Allocations for major infra projects, Rice and coconut bio parks, Ayurveda University at Kottackal , Airports in Idukki and Wayanad, Air strips in every district, Company for sea-plane service, Knowledge city at Thodupuzha, Technical University in the capital and Prisoners’ benevolent fund.
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r. K.M. Mani, Finance Minister for Kerala allocated Rs.100 crore in 2012-13 Budget for the development of basic infrastructure and land acquisition for various projects that would come in through on making Emerging Kerala, a grand success. Mr. Mani said in his Budget speech that Emerging Kerala meet would be related to establishing trade and commercial zones in the three cities of Thiruvananthapuram, Kochi, and Kozhikode. The steps to identify suitable land had already been taken and such plots would be notified as commercial zones under which all activities related to industry and commerce would be permitted. The Rs.100 crore allocated for this purpose would be made available to Kinfra over and above its customary Budget allocation. Commercial zones would also be set up at district headquarters and municipalities. Rs.20 crore was allocated for establishing a special purpose vehicle that would set up industrial manufacturing zones under the national manufacturing policy. These zones would be concentrated on the Kochi-Coimbatore industrial corridor. An electronics manufacturing hub would be set up at Ambanellore. He also allocated Rs.50 crore for setting up a petrochemical industrial zone that would promote large number of small-scale industries. The allocation had been made in the context of the mega plan of Bharat
Petroleum Corporation Ltd’s to increase the production capacity of the Kochi Refineries and set up other petrochemical-related units in Kochi at a total cost of Rs.18,000 crore. The State government had already announced tax sops for BPCL. With a view to cash in on the natural gas distribution in cities Rs.12 crore allocated for the proposed supplementary gas infrastructure project under the auspices of Kerala GAIL Gas Ltd, a joint venture of the Gas Authority of India Ltd. and the Kerala State Industrial Development Corporation. Rs.12 crore allocated for setting up a company to operate seaplane services that have been proposed in the light of the traffic bottlenecks and for reducing travel time. The other proposals for the industrial sector are Industrial park in Brahmapuram on the land owned by the Kochi Corporation; Edu-Health City on the 240 acres of land owned by Inkel in Malappuram, Botanical garden in Thonakcal for which the Kerala State Industrial Development Corporation has already acquired 36 acres; multi-storey industrial estates at Kochuveli, Manjeri and Kottaikkal for which the Finance Minister earmarked Rs.20 crore. The setting up of a Seaport Airport Area Development Authority proposed to provide connectivity between seaports and airports. The NedumbasseryVallarpadom, Karipur-Beypore, Mattannur-Azheekal and Vizhinjam-Shanghumughom belt would come under the authority. 11
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Mr. G. Vijayaraghavan, Member, State Planning Board The budget is positive. There is going to be a definite impact on the agriculture sector and the decision to give value addition to rice and coconut. The move for Dignity of labour will go up once the Bio-rice and Bio-coconut parks come up. Emphasis has been given to higher education and visible changes can be seen in the next two to three years. The challenge is going to be how to implement – a strong team in a mission mode is needed for it. Mr. V.K. Mathews, Chairman, CII State Council It is a meaningful and purposeful budget. The service sector corridor needs accessibility. Road transport has become virtually impossible in the State and hence the allocation made for the metro and high speed rail corridor in the budget is welcome. These modes of transport need to be promoted. Construction is a key sector and sadly the State and the Union government had not given priority. Mr. E.M. Najeeb, President, Confederation of Tourism Industry Kerala The budget is wellplanned in addressing the requirements of the infrastructure and tourism sectors. The allocations had gone up by 70 per cent for the tourism sector and another Rs 150 crore in indirect allocations. The proposals for air strips at district headquarters and introducing seaplane services perfectly jell with the needs of the booming tourism sector. The 8 to 10 percent taxation mooted by the industry has not all been considered by the Finance Minister. Mice tourism has not got the needed push. The taxation regime announced in the Bud12
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get did not go well with the intent of purpose manifested elsewhere in the document. Mr. K.N. Harilal, former member, State Planning Board The budget is silent on several core areas like stability of prices and insurance. Agriculture has become an uncertain venture. Higher education has got the priority and the proposed changes are welcome. Mr. C.P. John, Member, State Planning Board The budget will bring in fundamental changes in the State. Skill development has been given priority. Keeping in line with the UDF policy, the budget has duly balanced development and care. The welfare measures announced for various sections, including the Rs.40 crore earmarked for the differently abled are truly innovative. The Kochi Metro Rail and the Mono Rail projects are set to become a reality like other projects. Mr. K.P. Kannan, Professor, Centre for Development Studies (CDS) The government can avoid borrowing by tightening the tax regime. The potential had not been tapped so far. Only two-thirds of the sales tax was being collected now. Optimum collection would help to garner between Rs.7,000 crore and Rs.10,000 crore. Regarding the proposals for the higher education sector, rather than going for new universities, the thrust should be on strengthening the existing ones. The budget had not mentioned about the implications of the Food Security Act and also the proposal for FDI in the retail sector.
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he government has sanctioned Rs.1,000 crore for the Public Works Department to take up works of road and construction of bridges. The funds have been made available for the Rs.701-crore projects announced in the last budget and for the Rs.291.33crore road development project being implemented with the financial assistance of NABARD. Mr. V.K. Ebrahim Kunju, Minister for Public Works said 13 bridges and 29 buildings have been included in the works. Rs.169.28 crore had also been made available for the land acquisition for the development of roads across the State. Taliparamba-Koorg road for Rs.49 crore, Varkala Ring Road for Rs.12.15 crore, Kottayam Ring Road for Rs.20.25 crore, Moidu bridge for Rs.19 crore and Wellington Island-Kannakadavu road for Rs.60.40 crore are the main works to be taken up. The government was giving priority for the overall de-
velopment of Manjeri in Malappuram district. A sum of Rs.31.8 crore had been provided for the Manjeri bypass and the Manjeri Outer Ring road, the Minister added. In Ernakulam, a sum of Rs.18.70 crore had been given for the land acquisition to convert the Seaport-Airport road into four-lane. For the proposed ring road in Pala, a sum of Rs.27.30 crore had been made available for acquiring land. The other works that had got the administrative nod include the Podikund-Kannothumchal of Rs.15 crore, Kozhikode Puthiyapalam of Rs.18.95 crore and Rs.38 crore for the land acquisition for the Manarcaud-Ettumanoor road under the Kottayam bypass project. Rs.31 crore had provided for the construction of Thadikadavu bridge across Periyar and Rs.49.5 crore for the bridge at Thakootusheriyil near Aroor. Of the funds sanctioned, Rs.69.25 crore had been earmarked for buildings especially for the construction of school buildings.
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Niyathi
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inance Minister (FM) K.M. Mani, presented UDF Government’s second budget for 2012-13 on 19th March, 2012. UDF’s first budget for 2011-12 was presented on 8th July 2011. Presenting the first budget, FM said ‘People desire for a comprehensive change’. ‘State failed in many areas such as employment, investment, promotion of productive sector, developing infrastructure and value addition for indigenous products where we could have gained comparative advantage’. Every government when assume power, explain and review past government’s weaknesses and failures and then offer promises through budget knowing very well that majority of promises will remain as dreams when they demit office. On 18th May 2011, when FM, Mani assumed office, treasury had a cash balance of Rs.1964 crore as against arrear payments of Rs.5000 crore and published a white paper on State’s Finance. While FM presented second budget for 2012-13, he could manage revenue and fiscal deficit under control. Budget discussions always corner around resource raising, debt liability, fiscal deficit and revenue deficit. State’s debt liability is estimated at Rs.89,000 crore by 2011-12 end and internal debt at Rs.56,000 crore. A state is debt stressed, when its total financial liability is more than double its total financial assets. If one looks it as a criteria, Kerala’s total liability is 2½ times the total assets. Hence, we understand that, Kerala is moving towards a ‘debt trap’. Government of India’s 13th Finance Commission suggested to bring down Kerala’s fiscal deficit to 3 percent of GSDP and to eliminitate revenue deficit by 2014-15. In the budget 2011-12, out of the estimated borrowings of Rs.19,633 crores, FM had to
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Kerala and Economy
repay Rs.15,400 for repayment of principal and interest. Hence net borrowed amount for development purposes was only Rs.4,233 crore. Kerala spend 21% of State’s revenue receipts for interest payment alone. How can a state like Kerala can redefine its development strategy and priorities development needs under such a situation is not addressed even in the 2012-13 budget. Budget 2012-13 estimate a revenue receipt of Rs.48120 crore and revenue expenses of Rs.51605 crore and a revenue deficit of Rs.3485 crore as against a rev-
enue deficit of Rs.5658 crore during 2011-12. FM target an additional revenue mobilisation of Rs.1512 crore for 2012-13. Hence the over all deficit for 2012-13 is estimated at Rs.289 crores as against a revised estimate of Rs.605 crore during 2011-12. States 12th FYP target 9.5% annual growth rate. State’s aims is to integrate states economy with global economy and to develop Kerala to a ‘Highway Economy’ giving priority to socially and economically backward people. All inclusive growth and development with care is defined as the priority in the 12th FYP. High growth in the service and productive sectors is the development strategy for the 12th plan. Accordingly a seven pronged strategy is suggested for the 12th plan which include quality improvement in all sectors, basic infrastructure, development of skill development, self entrepreneur development, adoption of new modern technology, increase in capital investment and public private participation. To implement the seven pronged strategy, 2012-13 plan envisage an investment of Rs.14,010 crore which shows 16% increase over 2011-12. Agriculture, hill area and OBC and minority community development are given priority. An overall 9.5% average annual growth rate is
envisaged during the 12th plan and even expect a two digit growth rate if conditions improve. The Annual budget 2012-13 has to be viewed mainly from two angles. They are (i) budget has to satisfy the election promises of UDF in 2011. (ii) 2012-13 is the first year budget of the State’s 12th Five Year Plan. Budget has done justice to both. Election promises are being materialised in two budgets. State’s 12th Five Year Plan (2012-17) is approved for Rs.1,05,000 crore and annual plan outlay for 2012-13 is at Rs.14,010 crore. Can Kerala raise sufficient resource for a ‘big plan’ as envisaged. UDF’s development approach is growth with care. It envisages two fold approach namely; ensure food and social security and development of infrastructure. State has already started to distribute 25 Kg rice to BPL family at Rs.1 per Kg. since September 2011. When the National Food Security Bill become an Act and a reality, burden of Kerala will come down. However, continuous fall in rice production is a stable threat and challenge to Kerala. One has therefore to evaluate the rice production programmes envisaged during the 12th plan, particularly the ‘Rice Biopark’. Social security is a welfare measure as well as a social justice, particularly for aged, disabled and disease hit. FM enchanced the rate of monthly pension of all categories now under pension net from Rs.300 to Rs.400 and declared a monthly pension of Rs.400 to small and marginal farmers holding land below two hectares. Infrastructure, promote growth and employment directly and indirectly and create a multiplier effect in the economy raising growth rate. We need physical infrastructure like road, bridge, airport, bus stands, water ways, rails, harbours, electricity and transport. Even under growing fiscal deficit, FM does prioritise infrastructure development and development between sectors and even within sectors. For instance, we should first decide whether we should go for ‘high speed express road’ or widen the NH roads to four lane on a priority basis. Kerala’s total southnorth length by road is nearly 600 Kms. Government therefore have to think and rethink whether we need four international airports for every 150 Kms. in a small state. According to official data, Kannur Airport need nearly 3000 hectare land. Do we have land for a fourth airport when Kerala’s density of population is almost three times the national average. Land is a major problem as well as a constraint for development activities in Kerala. We are 15
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not able to procure land even for widening NH roads as Government of India norms. We have good navigable south-north west-coast canal which are not properly maintained and utilised for traffic. World Bank aided KSTP road works started during the 10th plan still remain partially unfinished. Therefore, we do not receive the 2nd phase World Bank aid for road works. Similarly Japan aided water supply project started during the 10th Plan for 43 lakh people remain incomplete but original cost has been revised from Rs.1687 crores to Rs.2587 crores during the 11th plan remaining still incomplete. Infrastructure development projects, as mentioned above, shows that we lack efficiency in project management and fund management. But, the 2012-13 budget has not formulated an action plan to speed up project implementation and fund management. Similarly infrastructure projects have not been prioritised based on fund availability, land availability and people needs. Starting women and children hospital in eight districts and Medical Colleges in all districts are the two major health programmes envisaged in the 2012-13 budget. In health a new development approach, based on people’s needs and fund availability have been suggested in the 2012-13 budget. Quality and efficiency of services provided through all health institutions have to be improved, standardised and made cost effective, if the government’s aim is to provide health care for all. Therefore health personnel, drugs, labs, bed, medical equipments, electricity, toilets, water etc. have to be distributed in all hospitals and it must be managed efficiently to satisfy patient’s needs. In such a situation only medical treatment cost come down. Health institutions starting from Primary Health Centres to Medical Colleges need efficient management and attempts have to start from the 2012-13 budget as envisaged and, it must sustain. Education from primary level to university level need total revamp to improve its quality during the 12th 16
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plan. Efforts have to start from the 2012-13 budget, through appropriate measures and proper action plan. An amount of Rs.200 crore is set apart to improve the level of education in schools to world level. When 12th plan and in 2017, our education sector may achieve a new face in terms of quality as well as quantity. Budget propose to convert all class rooms to smart class rooms during the 12th plan and in the 2012-13 budget in each government school one class room will be converted in to ‘Smart classroom’. In the higher education sector six major schemes are envisaged in the 2012-13 budget namely, global education meet, academic city, knowledge city, technical university, state award for universities, and centres of excellence. In our existing educational systems, is it possible to impleasant these programmes and achieve the desired growth and quality as envisaged. What we need is a ‘pupil - teacher centric’ quality and intelligence promoting education policy. Kerala has succeeded in devolving development functions and plan funds to Local self Government Institutions. State transfer almost 25 percent of annual plan outlay to LSGIS since 1996-97. Accordingly over the last 15 years LSGIS in Kerala have received over Rs.20000 crores as plan grant. However LSGIs could not formulate an integrated District Plan as envisaged. Similarly state could not integrate state plan with LSGIs plan and formulate an integrated state plan during 9th, 10th and 11th plans. Sometimes it is a major drawback of the State plan process. FM has set apart Rs.3228 crore as plan grant to LSGIS. But in the States’ budget for 2012-13, FM have not initiated steps to formulate an integrated district plan and State plan. Such an exercise would have enabled to solve major development issues of the state. Sustainable growth of the economy, particularly in the commodity producing sectors rest with the decentralised plan. FM start, a new face to budget to speed up growth beginning from 2012-13, first year of the 12th Five Year Plan. We hope, FM will attain the goal.
Cover Story
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he traditional industrial sector appears to have overemphasis on industrial infrastructure development programme in the State’s budget for 2012-13. Finance Minister has allocated around Rs.300 crore for the cashew, coir, handloom, and khadi sectors. Of this Rs.100 crore allocated for coir development and Rs.65 crore for the cashew sector. The budget allocation for handloom works out to Rs.67 crore, mainly for modernisation of looms, export promotion, procurement of raw materials for weavers, revival and strengthening of handloom cooperatives, and creation of handloom villages. The textiles sector would get a special package of Rs.60 crore, part of which would go for modernisation of Edarikkode Textile Mills. Rs.12 crore has allocated for the Khadi sector, mainly for setting up1,500 units, upgrading 2,000 charkas and setting up village industries parks in land owned by the Khadi and Village Industries Board.
The Rs.65 crore available for the cashew sector would be utilised for setting up a raw cashew bank, modernisation of cashew factories owned by the Kerala State Cashew Development Corporation and branding of Kerala cashew with an eye on tapping its export potential.
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he proposed Vizhinjam International Deepwater Multipurpose Seaport is an ambitious project taken up by Government of Kerala. The project is proposed to follow Landlord Port Model, where dredging, reclamation and basic infrastructure like construction of break-water and quay will be done by Vizhinjam International Seaport Ltd which is fully owned by Govt of Kerala. Port Operation will be on PPP model. Terminal superstructure will be built by private operator who will also operate and maintain it for 30 years. The Port will be at Vizhinjam, near Thiruvananthapuram in Kerala, India with a quay length of 2000 meters in three phases. It will be designed to cater primarily for container transshipments besides multipurpose and break bulk cargo. The Government of Kerala as part of its various programs for development of the state has identified to develop Vizhinjam International deep water Multipurpose Seaport. It has formed a separate company, viz. Vizhinjam International Seaport Limited (VISL) as a special purpose government company that would act as implementing agency for development of the Greenfield port at Vizhinjam in Thiruvananthapuram district, Kerala. Advantages of Vizhinjam are Availability of 20m contour within one nautical mile from the coast, Minimal littoral drift along the coast, hardly any maintenance dredging required, Links to national/regional road, rail network, Flexibility in design and expansion being a Greenfield project and Proximity to International shipping route. The port development is proposed to follow the landlord port model. VISL is also expected to monitor Land Acquisition, road/rail infrastructure, water and power supply required for the construction and operations of the port on behalf of Government of Kerala. The port terminal will be developed under PPP model wherein the construction and operation of the
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port terminal would be on Build, Operate and Transfer (BOT) basis. The port development along with the external infrastructure work is envisaged to be carried out in phases with the cumulative cost estimated to be around Rs. 6595 crore. The construction of basic civil infrastructure viz. dredging, land reclamation, construction of breakwaters and quay wall, as also land acquisition, road/rail connectivity and other external infrastructure required in phase 1 and the cost for the same is estimated to be Rs. 3040 crore. The said project cost is proposed to be funded through Rs. 1130 cr as equity from Government of Kerala and balance amount is proposed to be raised as debt through loans from banks/ institutions and through bonds. Advantages of the selected site are required water depths available close to the shore, Shoreline changes due to port development would be minimal, Very minimal Rehabilitation and Resettlement issues, Positive awareness towards project development and No diversion of rivers. The National Highways (NH-47-in use for years) and NH-47 Bypass are in close proximity (Bypass at 3 km & NH at 10 km) and national rail network is less than 12 km from the proposed port site. On one side NH-47 connects Thiruvananthapuram to Salem via Coimbatore and to Kanyakumari on the other side. At Kanyakumari, NH-47 would connect to the proposed North-South (N-S) corridor (between Kashmir and Kanyakumari) being implemented under National Highway Development Project (NHDP) of National Highway Authority of India (NHAI). New alignment connecting Thiruvananthapuram to Kanyakumari is also proposed by NHAI. 120 Hectares of land has to be acquired for the port project including Road connectivity, truck terminal, back up area and rail connectivity. This will be taken up at a war footing and completed within the targeted timeline of FY 2011-12. The State government will give permission to com-
mence work on the International Container Transhipment Terminal (ICTT) at Vizhinjam only after all the mandatory clearances are received. The ICTT was yet to get the environmental clearance although Welspun had been granted security clearance by the Union government. The Cabinet was yet to decide on whether to accept the bid of Welspun or to undertake negotiation as it had demanded a grant of Rs.489 crore for 16 years. A sub-committee, comprising secretaries of Port, Finance, and Law and Managing Director of Vizhinjam International Seaport Limited (VISL), a fully owned company of the State government, would go into the issue and bring it to the Empowered Committee headed by the Chief Secretary. The pre-monsoon and post-monsoon studies as part of environmental clearance were on. The government was planning to invite the EPC (engineering procurement & construction) tenders by June-July. 19 19
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tark Communications, TCC Chennai and Breakthrough advertising agencies bagged most of the categories in pepper Creative award, the annual creative competition jointly held by The Advertising Club Cochin and the Pepper Creative Awards Trust. The winners received their award from Mr. A.P. Anilkumar, Minister for Tourism, Govt of Kerala in a glittering award function held at Le Meridien Hotel, Kochi. Stark Communications selected as Agency of the Year award and Malayala Manorama won the Advertiser of the Year award. Last year also Stark won the same award.
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In 2011 Karnataka Tourism and Classic Polo shared the Advertiser of the Year award. Stark won its gold awards in the Photography, Corporate Brochure and Design-Logo categories. The silver awards were won in the Media Press Campaign, Media TVC, Illustration Campaign, Illustration Single, Copywriting Campaign and TV Single categories. The bronze awards won were in the Art Direction Campaign, Design-Logo, Direct Mailer Single, CollateralPoster Campaign, Press Single Colour, Press Campaign Unpublished and Press Campaign Colour categories. The finalist mentions the agency received were for its work in
the Media Outdoor, Outdoor Hoarding Campaign, TV Single and Press Campaign Colour categories.. The winners were selected by a special jury comprising of well known faces from the advertising industry like Mr. Agnello Dias (Founder, Taproot India), Ms. Priti Nair (Founder- Curry Nation), Mr. Prathap Suthan (CEO, iYogi and Founder, The Advisory) and Mr. Raj Nair (ECD – Contract Advertising). The winners were selected from 1020 entries from 96 agencies for 104 competition categories. Stark communication won 23 awards including 3 gold, six silver and 10 bronze while TCC Chennai won 7 awards and Breakthrough won 8 awards in various categories. Mr. Sudeepkumar, president, Advertising Club Cochin, welcomed the gathering and Mr. T Vinaykumar, secretary, Pepper Creative Awards Trust proposed the vote of thanks. Mr. Sudeep Kumar said that “Pepper is currently one of the most respected creative competitions in the Indian advertising industry. Our endeavour is to make it a globally benchmarked premium event every year. We hope the legend of Pepper and the creative spirit of
the present will jell well to create a niche for Cochin in the global creative space,” Mr. Oommen Kurian, Mr. U S Kutty, Mr. R Madhava Menon , Mr. P K Natesh, Mr. V Rajeev Menon, Mr. K Venugopal, Mr. Sandeep Nayar, Mr. Lakshman Varma, Mr. Raju Menon, Mr. G Sreenath, Mr. Reghu Ramachandran and Ms. Chitra Prakash along with office bearers attended the function.
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he allocation of Rs.165 crore for the Kuttanad package, aimed at the overall development of the region and its people, is one of the highlights of the Budget as far as Alappuzha district is concerned. The setting up of a Rice Biopark in Kuttanad is being welcomed by all quarters. The park, which will procure paddy and related products by forming clusters of small farmers in the area, is expected to further boost agricultural related activities in the region. The district, home to traditional industries, got a glimmer of hope as the Budget allocated Rs.100 crore for the overall development of the coir sector. The amount was allotted to set up basic infrastructure facilities, increase
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production by harnessing the modern technology and to reduce production costs. The Budget has also earmarked Rs.17 crore for Ambalappuzha IT Park. Rs. 5 crore allotted for two-lane Alappuzha by-pass and the development of Kayamkulam harbour. A new dental college in Alappuzha is a cheerful addition on the education front. Rs. 1 crore for applied science college of IHRD and an NRI-Public sector Medical college on Public-Private Partnership (PPP) model at Haripad. More funds were allotted to the Japan International Cooperation Agency aided drinking water project in Cherthala, besides the desalination projects for Kuttanad and a Rs. 15 crore for a drinking water project benefitting Harippad and 10 nearby panchayats.
News
Actors Mr. Suresh Gopi and Ms. Kavya Madhavan inaugurating the Josco Jewellers showroom at Thodupuzha. Mr. Tony Jose, MD and CEO, Josco Group Mr. Babu M. Philip and Mr. Dany Thomas, Executive Director, and Mr. T. J. Joseph, Municipal Chairman, Thodupuzha are also seen.
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ew showroom of Josco Jewellers at Thodupuzha has jointly inaugurated by cine actors Mr. Suresh Gopi and Ms. Kavya Madhavan
recently. Mr. Tony Jose , MD, Josco Group, Mr. Babu M. Philip and Mr. Dany Thomas, Executive Directors; and Mr.T.J. Joseph, Municipal Chairman, Thodupuzha are also present at the function.
he newly built pay-ward at the Panchakarma hospital at Poojappura was inaugurated by Mr. Adoor Prakash, Minister for Health. The Minis-
ter said the government had initiated steps to address the service-related problems of Ayurveda doctors and staffs. He added that infrastructure problems also be tackled. The new pay-ward has been built by the Union Government’s support of Rs.10 crores. The State had also received financial aid of Rs.12 crores from the Centre for setting up a Panchakarma hospital at Alappuzha. The inauguration of the general ward at the hospital was carried out by Mr. Sivakumar, Minister for Transport and Devaswom. He said the government would give all necessary support to transform the hospital into a nationally recognised centre for Panchakarma treatment.
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Face to Face
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erala Finance Corporation was formed under the State Financial Corporation Act, 1951 which was established as the Travancore Cochin Financial Corporation on 01.12.1953. Consequent to the reorganization of states on linguistic basis in November 1956, Kerala State was formed and the Travancore Cochin Financial Corporation was renamed as Kerala Financial Corporation. Now KFC has 16 Branch Offices with its Head Quarters at Thiruvananthapuram and Zonal Offices at Kozhikode, Ernakulam and Thiruvananthapuram. The Corporation is the first PSU in Kerala and first SFC in India to initiate Corporate Social Responsibility activity. As part of its Corporate Social Responsibility, KFC has set up KFC-CARE (Centre for Assistance and Rehabilitation) to rehabilitate and serve the marginalized sections of the community. It was only a few years back that Kerala Finance Corporation had huge accumulated losses, and was grappling with the problem of huge non-performing assets. But that was the past; now the Corporation has emerged as a financial supermarket giving the customers a wide range of products and services. Today the Corporation is one of the best State Financial Corporations in the country with a competent tech savvy team of professionals at the core of its services. Aiming to bring a sharper focus on the requirements of its customers and to provide them with the highest levels of service, KFC now means more than just term loans. The Corporation also provides working capital, finance and short term finance apart from schemes focused at the weaker sections of the society. Modernisation schemes for SSIs, Special schemes for Resorts, Hospitals, Media, TV Serial Production etc are some of the innovative schemes introduced to suit changing customer requirements. KFC has also set up KFC Consultancy Division with a view to render excellent consultancy services to the clients as a total solution provider. KFC has also made a small beginning to nurture and develop a new managerial cadre that can dream, envision and create a new future by starting the KFC Training Division.
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They also offer training programmes which are at par, with the programmes offered by any institutions of advanced learning in India. Fresh infusion of capital by Government of Kerala has enabled KFC to reduce its NPAs (Non performing assets) to below 2%. The corporation today has a portfolio size of around Rs. 1250 crores. The recent update to the new face of Kerala Finance Corporation is its new MD and Chairman, Mr. Yogesh Gupta IPS who took the reins of the organization in his hands just five months ago. A gentleman who can best be described with the phrase ‘simple to core’ has his actions speaking louder than his words. Originally hailing from Bombay, Mr. Gupta has spent major part of his schooling years at Jaipur. His profession landed him at Kerala and has then since become his second home. An IPS officer of ‘93 batch, Kerala Cadre, he has had a service period of over 18 years. During the span of his almost two decades as an IPS officer, he has handled various important posts and done so with ample enthusiasm and success. A man, who can extensively speak on the majors and minors of Kerala Finance Corporation, has helped in a prominent role, to resurface the organization from its earlier depths. Though Mr. Gupta has joined just months back, his prominence in the change is largely appreciated. Why did you join IPS? There is not any particular incident that I can recall that pushed me towards this career choice but I remember that this is what I always wanted. In today’s time, the youngsters and kids get influenced by the super cops created by the movies and want to lead that kind of lifestyle but in our times it was not so. We were more realistic because we did not have these super cop images overpowering our choices. But, yes, this is what I always wanted to be. You are in KFC on deputation. How do you like the change from the uniformed service? I do not think of it as that. It’s not about liking or disliking, it is part of your job and you have to do your job sincerely. That is what matters. In my 18 years of service, I have mostly been outside police job, handling intelligence, been the excise commissioner, worked in CBI, so this is in continuity too.
KFC was believed to be in a sorry state some time ago. How has it sprung back? Yes this is true. Till six months ago KFC had no funds. The state government came to our aid and restructured things in a major way and then we came out with the SLR Bond issue which was a success and our recoveries have gone up by Rs.100 crores. We are again coming up with another Bond issue in May this year. That is the only way to make up and now things are fine. Kerala Finance Corporation has initiated corporate social responsibility. What are its recent achievements? KFC believes that contributing value back to the society is our responsibility. All companies are expected to do that. This is our care program, but I cannot say it is very active. Keeping in stride with the said objective, we are speculating with a number of initiatives which are likely to make changes to the outside world. We have low interest rates with a margin of just 2% profit, then for women entrepreneurs we give further 1% concession in our interest rates. But unfortunately, we are not able to do as much as we would like to because as is known, KFC had suffered some serious losses and now although we have resurfaced with the help of the state government and our bonds scheme, there is still a lot that needs to be done to completely recur the company’s profile. So, as much as the organization would like to step up its KFC – Care program, we first need to sort out the issues within the organization to start helping others at a larger level. The schemes that we are planning would have to wait for some more time to come on the floor, till then we can only do as much as we are doing. What is your personal take on corporations stepping into social service? Yes, I think corporations which are capable must take upon the responsibility of social service on their shoulders. Things should be planned and funded well following prudent majors. But, it is also a fact that charity begins at home. You yourself must be self sufficient first to look into the needs of others. Otherwise, your venture cannot be successful and last a long term. In a government organization, the very fact that you are managing your funds well and give a dividend to the government is a big social responsibility in itself. As it is, in a government corporation what ever you earn ultimately goes to the government and is used for the benefit of the society. KFC’s first SLR bond issue in November last year was an unexpected success. What are your expectations with the upcoming issue? 25
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The first SLR Bonds were a huge success and we have similar expectations from the second bonds too. In the current year KFC is likely to earn an after tax profit of Rs. 40 crores up from Rs.36 crores of last year. No body had expected that after 6 years Kerala would come up with such a bond and get it subscribed. The fact remains that unless we garner funds on a low cost we cannot extend funds to our clients. The improved credibility of the KFC management ensured that the bond issue was not only fully subscribed but rather oversubscribed enabling the corporation to exercise its option to retain an additional Rs.100 crore. This was achieved despite adverse market conditions and when most of the other bond issue by other public sector undertakings in other parts of India had failed. Now we have come up with a new scheme to finance the entertainment sector, movies and tele-serials. This was one area nobody was financing. Which states are you relying more upon for most investments? Mostly the investors were from outside Kerala for the previous bond issue. The investors for the second set of SLR Bonds are again expected from outside Kerala because one state alone cannot generate that kind of fund. Last time, there was Canara Bank, Dena Bank, Dhanalaxmi Bank, Bhilai Steel Plant, Rourkela Steel Plant, Gujarat State Fertilizers Ltd., Lovelock Lewis, Fergusons. It was a wide response. It helped a lot. Have you installed any significant changes in the organization since you stepped in five months ago? As I said, one has to focus on the core business, which is financing. For doing that, you need to have resources. You cannot lend unless you have resources. When I came to KFC, my main problem was the fund crunch faced by the organization. There was no fund and we had to pay many loans. So we first managed some short term funds from the banks and then we came up with the bonds to improve our recovery. Since we have improved our recovery it has added to our funds. Then we have made our appraisal system and valuation more scientific. If the people to whom we are lending the money have the capacity to make an enterprise and return the money, naturally, the organization gets benefited. We have also managed to reduce our NPA from 20% to 2% now. Net NP was already brought down, now we want to reduce the Gross NP as well. More than that, I have introduced formal guidelines for our appraisal system with checklists and credit rating. Now, if someone is a good client to us, we even give them an incentive of loan at 1% lesser interest rate. What is Kerala State Entrepreneur Development mission of which KFC is a nodal agency? 26
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This is a novel idea that the state government has announced with KFC as the nodal agency. It is a dream project of Mr. K. M. Mani, Minister for Finance of Kerala Government. The scheme is likely to bring about a paradigm shift in the attitude of people towards entrepreneurship. The scheme aims to create 10,000 enterprises, 50,000 entrepreneurs and 1, 00,000 direct jobs and around 5 lakh indirect job opportunities. The scheme is already functional. We are also providing training to the selected prospective entrepreneurs. No other state of the country has such scheme. This is an ambitious and multi dimensional scheme. What do you think is the edge that KFC offers to its investors to keep above the other commercial banks? KFC is a win-win organization. With the loan schemes we have issued for the general public, the public definitely gets profited by them with the low interest rate of 13.5% per annum which is 3% lower than the other commercial banks, which is remarkable and KFC also gets to win under such schemes. Our corporation has been able to increase profitability even after keeping low interest rates. This clearly shows improvement in the quality of loans, timely repayment of interest and principal by borrowers and economy of expenditure enabling the corporation to earn profits despite a very thin margin of 2% over cost of funds. You must be awfully busy. How supportive is your family? No, I am not awfully busy, like everyone else’s job, it is my job, and I get enough time to spend with my family. So, they are also okay with it. What is your favourite leisure activity? I particularly enjoy playing cricket with my children or what ever other activity they are indulged in. Being with family is leisure in itself for me. The corporation has introduced objective and delay avoiding criteria for appraisal and sanctions of loans by introducing financial analysis tables and credit rating continuum which has caught the attention of top financial institutions in the country. Further more, to ensure transparency, avoid malpractices and to ensure better price for the mortgaged properties in case of default by the borrowers, e-tenders and e-sale auction has been recently introduced, wherein the people can participate in sale from anywhere in the world and funds can also be transferred through electronic payment gateway. The role and responsibility shouldered by Mr. Yogesh Gupta in the re-emerging of the Kerala Finance Corporation is noteworthy. KFC can now rightly take pride in claiming No.1 position among all the State Financial Corporations in the country.
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he Santhigiri Fest 2012 has begun in the first week of April at Santhigiri Ashram, Thiruvananathapuram. The two-monthlong festival is organised in connection with the ‘Navaoli Jyothir dinam,’ which
falls on May 6. The information and publicity office of the ‘Santhigiri Fest 2012’ has been opened at Pothencode at Thiruvananthapuram. The information office was inaugurated by Swami Vandanaroopan Jnana Thapaswi, who is in charge of the Ashram’s operations department. Mr. K. Thankappan Nair, Vice-President Sudharmmini, Manikkal Panchayat President, Mr. Balamurali, Welfare Stand-
ing Committee Chairman and Mr. Kirandas, INTUC Mandalam Committee President were attended the function. Exhibitions focusing on entertainment and education, amusement park and stalls on higher education will be part of the exhibition. More than 50 information centres will be opened by central and state government bodies, NGOs and other agencies. Photography and painting exhibitions, rainwater harvesting projects and organic farming methods etc will also be exhibited. Another attraction would be the typical Kerala model village with thatched house, courtyard, well, cultivated land, bullock cart, village radio, reading room etc.
Startup Village
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• Infosys Co-founder Kris Gopalakrishnan unveils Startup Wall to inspire next generation entrepreneurs • Green initiative Entrepreneurs Garden to nurture trees along with 1000 startups
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r. Kris Gopalakrishnan, who cofounded Infosys as a start up years back to trigger an IT revolution in the country, hailed India’s first telecom incubator Startup Village as a major turning point in the development sector of Kerala. Mr. Kris, who is also the chief mentor of Startup Village, was speaking after inaugurating India’s first incubator on public-private partnership mode, at Kinfra Hi-Tech Park near Cochin. He unveiled the Startup Village wall that recalled his early days as a startup and sent an inspiring call to the next generation of entrepreneurs to take their turn now. By planting the sapling of a banyan tree, he also launched the green initiative called Entrepreneurs Garden which aims to nurture more than 1000 number of trees in the hi-tech park that will groom 1000 startup firms over the next 10 years.
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Terming the establishment of Startup Village as a milestone, he said many were yet to take note of the transformation happening in Kerala. ``Many refused to change their perception about the State even after Kerala made a successful model through its Technopark in Thiruvanthapuram. What a startup venture requires is a very conducive atmosphere that will improve confidence and drive in new ideas,’’ he said. ``Education, innovation and entrepreneurship will create a favourable situation. Nobody has a ready formula to success. But there are plenty of successful models before us to emulate. These are very significant as they became successful when many others failed. We should be able create such successful models that will inspire hopes. That is the goal of this Startup Village ,’’ Mr. Kris said. Lacking of funding is another hassle on the way of entrepreneurship. This incubator has a solution on this count, he said, affirming that it would mark a beginning of
a transformation in Kerala. Mr. P H Kurian IAS, Kerala IT Secretary assured full support by the State Government to the project and said no bureaucratic hassles will trouble the startups. Affirming that Kerala has a favourable atmosphere to make fast strides, he said the momentum will further pick up if the circumstances are made better. Mr. Alkesh Kumar Sharma IAS, Secretary- Industries, Kerala and MD, KSIDC pointed out that no man-days were lost due to any reasons in the last one year in the State. However, many have not realized this factor and the Government is planning the global investors meet, Emerging Kerala, in September to highlight these changes in the investment sector. Dr Ramachandran Thekkedath, Vice-Chancellor of Cochin University of Science and Technology (CUSAT), leading NRI entrepreneur Dr Ravi Pillai, Dr B K Shukla from the Department of Science and Technology (DST), Government of India, Mr. John Paul, President, TIE Kerala chapter and Mr. Sanjay Vijaykumar, the chairman of the Governing Board of Startup Village spoke on the occasion. Mr. Ramanadan, MD, KINFRA, Mr. K Sudhakaran, General Manager, KINFRA leading entrepreneurs Freeman Maray, Mr. Nandakumar and Ms. Annie were among those to attend the function. The guests also planted saplings at the Entrepreneurs Garden coming up at the one-acre land where fruit orchids, evergreen trees and banyan trees will grow to give a green cover to Startup Village.
Startup Village is being set up jointly by up by the National Science and Technology Entrepreneurship Development Board (NSTEDB) under the DST Government of India, and the Kerala Government-run Technopark, in collaboration with MobME Wireless. Startup Village is being projected by both the DST, Govt of India and the State Government as the largest national attempt to scale up innovation in the country through incubators in collaboration with the private sector, tap huge potentials unfolding in the telecom sector and transform students as successful job-creators instead of job-seekers. India’s telecom and information technology industry is supporting this bold initiative in different capacities. Former NASSCOM chief Shri. Kiran Karnik; Cellular Operator Association Director General Rajan Mathews,
UrbanTouch.com CEO Shri. Abhishek Goyal; former Yahoo India R& D CEO Shri. Sharad Sharma; Dell India MD Shri. Ganesh Lakshminarayan; Shri. KK Natarajan, CEO of Mindtree; and Shri. Arun Kumar, Global Board Member of KPMG, Dr. Ravi Pillai, the biggest employer of Indians in the Middle East; and major local IT entrepreneurs like Shri. Nandakumar of SunTec are among those joining the project as mentors and investors. To be equipped with full 4G network, telecom labs, innovation zones, legal and intellectual property services, fully furnished offices spaces and video conference rooms, Startup Village will give a host of perks from three-year service tax holiday to funding opportunities for tech startups to build, break and innovate to start the search for a billion dollar campus startup from India 29
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Builders
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the projects on schedule and never compromise the qualhe Pankaj Builders, in its quest to bring ity of their projects which speaks of their earnest vision in out the best in every aspect of living expebeing the brand you can trust. rience, strives in bringing to you unique A team of engineers and technical experts, with villas that are a class apart. Conceptualizabundance of creativity and years of experience in the ing your dream house is only the beginnational as well as the international market, who focus ning, when Pankaj Builders present you your completed their time and energy to design and conhome; it will be your dream come true and struct a home offers optimum space utility, more. while upholding aesthetic appeal is superior The builder’s ongoing project, the Pankaj in quality, environment friendly. The Pankaj Enclave, is a new age housing community Builders team is known for their renowned that is all about healthy living. With this work, and use only the finest materials and most prestigious projects of Pankaj Builders’ artisans to create dream homes. Their attenyou can create an exclusive and elite world tion to detail is what makes stand out from of your own, and soak in the serenity of a the crowd, ensuring superlative projects. blissful ambience of peace and luxury, at You will get a world class home from Pankaj prices starting from Rs. 47 lakhs onwards. Builders. These exclusive villas come with the finest Mr. K.K. Pankajakshan Thiruvananthapuram, the capital city of embellishments of big open spaces, clean Chairman Kerala is growing as one of the most attractive destinaenvironment and lush green views spread across a sprawling 4 acres of greenery. Planned in keeping with the most tion to live in. Of course, owning your own holiday home in ‘God’s own country’ is a great investment idea as well, exacting international standards, its design comprises of as prices of the real estate is only going to spiral upwards. luxurious living spaces within a Vaastu compliant master An investment with the Pankaj Builders will be a proud plan. The Pankaj Enclave is located and designed to cater possession of every owner of the Pankaj Builder villas your need from watching a movie with friends, spending with international standards of quality, and is sure to an evening out, relaxing at home, to even something as grant you excellent returns on your asset. mundane as grocery shopping. At The Pankaj Enclave, Contact: everything you need will be right around the corner. Tel: +91 - 471- 2322500, 4010029 The real estate had already a bad reputation in delayMob: +91 8547476693 ing projects and escalating prices. But with Pankaj BuildE-mail: sales@pankajbuilders.com ers, you need not have to ever worry, because they deliver www.pankajbuilders.com their promises promptly. They are dedicated to complete
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News
he Central Arecanut and Cocoa Marketing and Processing Cooperative Ltd. (CAMPCO) is gearing up to release its “Milk and Milk” white chocolate to the market in July. It would be the 24th cocoa-based product manufactured by CAMPCO at its chocolate factory in Puttur in Dakshina Kannada. It will have natural ingredients and no artificially added colour or essence. It will be available in natural vanilla flavour. Milk solids and cocoa butter would be the main ingredients. The 35g bar would cost Rs. 20. It would be the premium chocolate. CAMPCO released “Rich Milk”, another premium chocolate, to the Karnataka market a month ago.The main ingredients are cocoa solids, cocoa butter, and milk solid. The 40g bar of “rich milk” is Rs. 20. Cocoa solids meant powder derived from dry cocoa beans. Cocoa butter is fat extracted from dry cocoa beans. Cocoa butter melted at body temperature when a chocolate was eaten. It will be released to the nationwide market shortly.
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he Coir Board will set up an international museum on coir at Alappuzha. The museum will be helpful to tourists, students and researchers from within the country and outside. With a view to developing fresh markets, the board will participate in international trade exhibitions in new regions. Efforts will be taken to popularise the husk processing machinery developed by the board.
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he renovated showroom of retail textile chain Emmanuval Silks in Kottayam has inaugurated by Mr. Allu Arjun, Telugu film actor recently. Ample parking space, availability
of fashion designers for assistance in selecting clothes, internet availability, coffee shop and special areas for VIPs are some of the highlights of the renovated showroom. 31
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Banking
H
DFC Bank has launched a new gold loan scheme aimed at the rural customer. The scheme, called ‘Bharosa Gold Loan,’ will ensure right valuation and safety of the gold. Mr. Biju Pillai, senior executive vice-president of the bank has said the product will offer 140 per cent of the gold’s valuation. The bank is planning to take the scheme to 1,300 branches in over 950 locations across the country in the next six months. With the proposed expansion in semiurban and rural regions, the credit needs of about fivelakh underprivileged customers in 10,000 villages could be met. The scheme envisages three-layered sealing of the jewellery. A valuation certificate with itemised description and weight, countersigned by the customer, will be utilised to ensure transparency. The bank will provide adequate communication so that the customers do not
miss the maturity date and risk the sale of gold. With the entry of organised sector into gold loan, the market for the segment is set for strong growth. Indian households have privately held gold stocks of 18,000 tonnes. Over 60 per cent of the gold comes from smaller towns. Mr. Dhiraj Relli, branch banking head, South-2 said with a network of over 130 branches in Kerala, and many among them being in the rural or semi-urban centres, the State offered good scope for the gold loan portfolio to grow. The rate of interest for the gold loan would vary from 11.5 per cent to over 14 per cent.
T
he Federal Bank spread out its network by adding 100 branches to its network on a single day on March 10 across the country. With this, the total number of branches has gone up to 938 branches. In Kerala, the bank opened 26 new branches to take the total number of branches to 518 in the State. Mr. P.C. John, Executive Director said the bank is planning to increase the number of branches in the country to 1,000 by the end of June this year. Federal Bank has been opening three new branches on an average every month in Ernakulam Zone. Mr. T. Oommen Benjamin, General Manager said in the last few months, it has opened 17 branches and another six branches were opened in the zone on March 10. The six
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new branches, opened in the Kottayam and Thodupuzha regions, were at Bharananganam, Kurichi, Manimala, Kottaramattom (Pala), Mangattukavala (Thodupuzha), and Vannappuram. The bank has identified Ernakulam Zone as a growth potential region. Federal Bank currently has a business size of almost Rs.80, 000 crore. Federal Bank has registered quarterly profits of Rs.202 crore as on December 31, 2011.
Banking
Mr. P. Nandakumaran, Managing Director, State Bank of Travancore, inaugurating the bank’s ATM at the domestic terminal of the Thiruvananthapuram airport. Mr. P.K. Mohandas, Branch Manager, Shanghumughom; Mr.G. Chandramouli, Director, Airport Authority of India, Thiruvananthapuram; and Mr. V. Kannan Kutty, General Manager, SBT, are also seen
S
tate Bank of Travancore’s (SBT) ATM at the domestic terminal of the Thiruvananthapuram airport has inaugurated by Mr.P. Nandakumaran, Managing Director, State Bank of Travancore. Mr. P.K.
I
DBI Mutual Fund has announced the launch of IDBI Dynamic Bond Fund, a diversified, actively-managed and open-ended debt scheme. The fund will invest in government securities, treasury bills, bonds of public sector undertakings and corporate bonds. Mr. B. Sarath Sarma, Executive Director, IDBI Asset Management, said the objective of the scheme was to generate income while maintaining liquidity and asset quality through active management of a portfolio comprising debt and money market instruments. The fund would track Crisil composite bond fund index. When interest rate cycle peaks, the fund would benefit from higher coupon on long-term securities. In the case of downward interest rate movements, the fund would benefit from capital gains. Mr. Sarma added the active management of funds had the potential to enhance risk-adjusted returns, making it an all-season fund and planning to introduce more equity products in the coming months.
Mohandas, Branch Manager, Shanghumughom; Mr. G. Chandramouli, Director, Airport Authority of India, Thiruvananthapuram; and Mr. V. Kannan Kutty, General Manager, SBT, were also present at the ceremony.
S
tate Bank of Travancore has registered a growth of 27.21 per cent (Rs.3, 146 crore) up to February this year. Of this, Rs.442 crore (14 per cent of growth) was on account of the increase in interest rate for non-resident external (NRE) term deposits. The bank recorded a good growth in remittances.
T
he new Kilikollur branch of the Indian Overseas Bank was opened at Kallumthazham recently. Ms. Indira Padmini, Chief Regional Manager and other officers of the bank were present at the inaugural function. 33
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Column
TNeecwhsn o l o g y
Here and Now
N. Nandakumar Kartha
W
e had a strong civilization in the past based on harmonious living standards. It starts with Self realization. Swami Chinmayananda, who was a company executive turned ‘vedanta’ orator emphasized to a huge gathering of company executives in the annual General meeting of the Bombay Industries association in 1980; “The manager should first learn to
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control himself. Without self control, how can he control others?” India is supposed to be marching towards global super economic power. Media are doing their very best to ensure that the message is imbibed in the minds of the common man. I am a person, hopefully millions like me, must be feeling that India can be a super power only when all Indians are prospering better than people elsewhere.
Sri. Narayana Murthy, co-founder of Infosys made his observation on the same lines during an interview in NDTV. We have already heard the sad plight of super power America. The president is talking about giving employment opportunity to Americans. Therefore, what do they mean by Super economic power? Anyway, having said, let us make it! Not in the American way, of course! If few Indians can reach the top of the table among the richest persons in world with in less than 25 years, each one us can make it! When a determined nation wants to march forward and achieve progress in the shortest possible time, it must channelize all its available human and material resources towards achieving its set goals. Efficient and effective management of the available resources is necessary to achieve the cherished goal in the shortest possible time. Targets have to be set, plans have to be drafted and resources directed and controlled to achieve the targets. In the process, all individuals in the nation are involved, as they are the most valuable of all resources available. Thus, whether is aware of it or not, each individual’s effort impacts the national well being and progress. Indeed, a nation’s success lies largely in the active support of its people. I am a person, who strongly believes in the principle. ‘The God who has given mouth to its children has sufficiently created food for all’. The problem lies with the individual perception of one’s self. Creating awareness among the common man about their role in nation’s cherished goal, is itself a great employment opportunity for thousands of people. Similarly there is opportunity galore for everyone in India, if they sincerely look in all direction. It is worth reading Philip B. Crosby’s book, ‘Completeness’ 10 times. It is all about quality management concepts beautifully explained. Further more you get authentic information on the happenings in business and industries in the developed countries. From the last chapter of the book, I quote ‘An amazing amount of progress can be accomplished by anyone who does not insist on credit. That statement has probably been made in every generation since Eden, but it is true. What some do not realize is that such behavior becomes known rapidly, mainly because no one else
engages in it. As a Centurion, you have two options: one is to depend on the “kindness of strangers” for promotion and success, a chancy strategy at best; other is to arrange for them yourself by just overshadowing the competition. That does not require kissing the boss in any place, but it does require a plan. Progress has to be anticipated, laid out, and followed with dedication. And if we find we are in a place where they are not sensitive enough to appreciate us, then it is time to move along. During the first ten years of a career it is acceptable to work for three or four companies. After that, ten years is the minimum and one might stay for ever if the atmosphere is correct’. Some time back I read a news blog in Silicon India. “India fast losing BPO jobs to Philippines” Do you have a Business continuity plan? Did you ever give thought about where you will be after 25 years? Better late than never; before all is lost! The savior you can depend upon is an effective and efficient quality management system that focuses on value addition… as Philippines did it, SMARTLY, with their value additions, “Better caliber of English and mess that exists in India!”– What a shame that India could not challenge with better value addition to regain the lost ground in BPO. Instead Indians are going to Philippines and setting up units there to survive from the threat of business loss. Should the employees are to be blamed for the mess in India? Where do the messes that exist in India come from? The answer is quite obvious. The problems can only come from few sources: management, employees, suppliers, local residents, customers, the government, competitors, and traces here and there of something else, like laws of physics. Is that so dif35
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April 2012
ficult for the management to understand or anticipate eventualities from these sources? Why no prevention was taken to take on the competitors from other countries? So that India’s goodwill is intact. Most of the business houses take things for granted. The complacency nature of Indians, inadequate long term planning, inadequacy of purpose, impatience, are some of the distinct causes evidenced in Indian business. Does India lack in information, skill, and knowledge and communication ability for continual improvement and business continuity? I have seen my grandmother and mother-in- law calculating the time by just looking at the sun. Once to test my mother’s-inlaw ability, I asked her the time while we were standing outside the house. Pat come the reply12.20. I looked at watch; it was indeed 12.20. I asked her how she learned the trick. She said every villager knows this trick which has come out of practice. They calculate based on the size of shadow. As a person born and brought up in city life, it still remains as a mystery to me. The story I mentioned above is only to give a small indication that India has a rich heritage of science, mathematics, philosophy, literature, crafts, technology and management systems that provide INFORMATION to research and develop products and services that can take our country to the top. Nevertheless, India has succumbed to the threat from other fast developing countries. Once I went with my brother to his friend’s house, employed in Malaysia, who is on a holiday to his home town. I was surprised to hear about his company’s product; they develop and sell textile designs and color combination to textile industries around the world, catering to the taste of new generation youths in the next decade. They do research on the variability of youth perception 10years from now: A practice unfortunately Indian industry has forgotten or ignorant about. Indian Government, Banks, Business & Industry, Technical and Management education system in India 36
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has still not learned to give emphasis on Quality Management System that focus on zero defect and completeness, in spite of the fact that Gita, Vedas, and Upanishads are originated in India more than 5000 years ago, which are nothing but quality management and its practical systemic approach to prevention from any eventualities. Industries require a positive culture change for their survival. It is a simple logic which you should realize that if the employees, suppliers, and customers cannot find success from you, they find other sources. That is what has happened to BOPs. Job hoping from industry to industry by employees is also on account of management’s inability to show success for their employees. There is nothing official about it; sentiments, friendship, nor can height of influence be any to help you, if you fail on the ‘showing success perspective’. Philip B Crosby, an eminent American quality management consultant, believes implementation of an effective and efficient quality management system shall remain incomplete without the purpose of completeness! The purpose of completeness is to avoid problems and guarantee success. For that matter he defines three principles for completeness: Cause employees to be successful Cause suppliers to be successful Cause customers to be successful. See, how beautifully he has put up his argument. Why don’t we try to be more considerate to others, instead of a climate of retribution? If we could help others not to have any problems, we could be in better shape ourselves. Instead of needing a whip and a chair for communication, or having to walk the halls in pairs, we could face the world armed only with a smile and an offered helping hand. They might cooperate with us instead of playing hide –and-seek. We could even help them learn to respect each other. N.Nandakumar Kartha is renowned management consultant, trainer, tutor, Quality systems auditor. e-mail: n.nandakumarkartha@gmail.com
News
S
atmetrix, a net promoter software company, launched a piece of customer experience management software in India at a function at Thiruvananthapuram. Satmetrix was one of the leading providers of cloud-based customer experience software for companies worldwide. Satmetrix is headquartered in San Mateo, California, with offices in Thiruvananthapuram and Bangalore for its Indian operations. The software NPS Go! is to provide the fastest path to net promoter software values for companies of all size. The net promoter software is a management tool that is used to measure customer satisfaction and customer-
centric performances of a company through metrics such as the NPS values. Mr. Richard Owen, President and Chief Executive Officer of Satmetrix, told presspersons that clients would be supported from the Satmetrix offices in Thiruvananthapuram and Bangalore. These centres had been already delivering support for the Indian operations of Satmetrix’s global customers, such as Buhler and Dell. The new software was such that the core elements of the programme would work well in all the international markets for start-ups or global giants. Currently, the company was targeting mid-level companies in the country, including prospective buyers from Kerala. 37
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TNeecwhsn o l o g y Column
Dr. Jose Jacob
T
he Kerala Self Entrepreneurial Development Program launched on 2nd February is anticipated to be a major stride aligned with the burgeoning issue of educated unemployment in the state. The scheme proposed to generate about a lakh direct job opportunities and indirect job for another five lakh youths. It envisions to establish 10,000 joint venture entrepreneurial units each consisting of group of five youths. Under the design about 50,000 candidates intended to be imparted professional industrial training as has been suggested in the budget proposal. Kerala is endowed with factors essential for fast industrialization including large array of educated youth, abundant quantity of raw materials of varying type, fascinating amount of capital and surging market for consumer products. Despite, on many reasons, though in fact irrelevant, the state has not been moving forward to solve the problem of educated unemployment. Consequently, the adolescent of the state are forced to migrate to other states and countries in search of livelihood. It seems a necessity, and duty of the authorities to arrange for opening up of opportunities for those who are compelled to migrate to militate against varying cultures and strange environments. Besides, the benefit of spread effects and linkages of the economic activities and employment of the human capital employed elsewhere is mopped by the respective economics. If the state is successful enough to make use of the human resources with its possibility for growth, of course would be towering. History does not offer any successful models that enable full employment through economic activity in the public sector alone. Instead encouragement of youngsters 38
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to utilize their entrepreneurial abilities and initiatives in economic activity enables them to win new world of innovation and growth. It is testified by the experience of all the developed countries. It appears that there are no examples that are free to be followed to development through centralized system. Even if the size of the educated unemployed registered in the employment exchanges in Kerala alone is taken into account it had gone up to 43.29 lakh in 2009-10 from 38.57 lakh in 2005-06. Besides about 4.5 lakh new entrants join to the army of unemployed every year after completing their education. The employment opportunity created on an average in a year in the state in the public sector is about 25000. Therefore there is no logic in relying upon solution for unemployment problem through opportunities available in public sector alone. The share of industrial production in the state in 200910 had fallen to 21.71 percent of SDP from 25.06 percent in 2005-06. As far as the share of production of state’s agricultural sector is concerned it had plunged to 12.1 percent of the SDP from 15.2 percent in the corresponding period. It displays that the employment opportunities available in the productive sectors of the economy though low, has still been steadily falling. It is in these circumstances that a number of projects
with a view to augment employment opportunities and to boost up the growth of industrial and economic sector making use of the creative power of unemployed youth of the state included in the Budget for 2011-12 have to be viewed. Among the programs declared in the Budget Self Entrepreneurial Development Program stands hefty. About 61 percent of the SDP of the state of Kerala is generated from service sector. However, the backward and forward linkages and multiplier effect of the economic activity in service sector is relatively low. It may be one of the reasons for the economist in the Finance Minister assigned substantial emphasis for projects that have bearing on vitalizing the productive sectors of the economy making use of the initiatives of the unemployed youths in the state especially through self entrepreneurial development projects. The prime scheme viz., self entrepreneurial development scheme visualizes partaking of Public, Private and Panchayaths (PPPP). The ventures under the scheme are planned on the basis of resource availability, market and other factors of regional potentialities. The entrepreneurs under the scheme are selected in a transparent manner with the help of Local Self Governing Institutions (LSGIs). The selected youths are given advanced training in project preparation, financial management, inventory management, product management, marketing and other relevant
aspects for the successful conduct of business project. Entrepreneurial training to the selected youth under the scheme is imparted through NABARD, National Skill Development Corporation and Entrepreneurial Development Institute of India. The six week training passed on to the educated youth will facilitate them to be successful entrepreneurs. The trained youth can set up individual ventures or joint ventures. They will be given all guidance and interest free loan up to 20 lakh and one percentage managerial subsidy. The project also envisages hand-holding facility during the initial years of activity. Under the scheme individual projects by technocrats will be given interest free loan up to 10 lakh and for joint ventures of up to five aspirants, the loan amount will go up to 20 lakh. The scheme stands distinct in many respects including technical support, management training, marketing support, awareness training on the availability of the raw materials, machinery, its upkeep, financial resources etc. It aims at the healthy existence and growth of industrial units started under the scheme. The Self Entrepreneurial Development Project is envisioned to make use of the demands for ancillary products from the mega projects including Vallarpadam Container Terminal, Vizhinjam Transhipment Project, Smart City, Metro Rail Projects in major cities of the state, Thiruvananthapuram - Kasargode speed corridor, Coimbatore- Cochin Industrial Corridor, Monorail Projects etc., too. In addition to this the chain of small and medium scale industrial units initiated under the projects can cater the needs of large scale industrial units in an around the state. It can also provide service net working system to big industrial units. The project plans to be instrumental for regional balance in development through more emphasis for industrially and economically backward areas taking into account of raw material availability and marketing of its products. The dream projects that plans to spend 3,500 crores in five years sets apart a specific share to women entrepreneurs. It is highly heartening to observe that the reaction received from the youth in the state to the projects is intriguing. The number of applicants for the first batch of training was around 15000. Out of that, 3900 was picked for the training that commenced in February 2012 in 14 district centers of Kerala. ( Dr. Jose Jacob is the Director of National Savings, Thiruvananthapuram ) 39
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By K.S. Sasthry E-mail: sastri_astro@yahoo.in, Mob: 9446382329
Aries
Evils are likely to predominate; there may be some official displeasure, obstacles in work, worried mind and various fears. Mounting expenses may force you to be more circumspect. At the end of the month work condition will improve with profit also increasing substantially .This month is not satisfactory for real estate matter postponed important discussion for the present. Those in service are likely to be victimized on the false charges. professional may receive new offers for job, avoid argumentation with your sincere or colleagues to escape an unwanted seen. Businessmen may get good news from your progeny, for women family tension may rise to make domestic life quite disappointing. The house will have new guest. Auspicious Dates: April 21, 22, 25, 26, May 4,5, 6, 7, 11, 12, 13, 14
Taurus
This month give mixed result. Temporary relief from certain ailments. Varies enjoyment at the end of month. Some jealous people may tries to trouble you. May attend some social and religious function. For students competitive examination result would be favorable. You will come forward to help the needy ones. May fall in lose of comfort and weakness of body and mind. Minor quarrel in family life may worry you during the first half of the month. Expenditure may tend to increase to unexpected levels. Speculation should avoided. Real estate dealing may go normal and satisfactory. This is not likely to prove a satisfactory period for employees. Business men and professional find this month satisfactory. Auspicious Dates: April 18,19,20,21,25, 26 29, 30 May 5,6, 7, 8
Gemini
This is a favorable month. successful undertakings, take care of your family and friends, may participate in pilgrimage tour. Even tough you will be hard pressed for money, you will have your regulator money supply unchecked. Family atmosphere will be peaceful. Physical comfort will grow. Financial position will be satisfactory throughout the month. You may also get release from certain commitment. Both gain and lose are anticipated in speculation. Real property business may not be entirely satisfactory. 40
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April 2012
There may be some possibilities for litigations, increased activities may manifest professionals and businessman. For women domestic harmony exist. Auspicious Dates: April 18,19,20,21,27,28 May 1,2,7,8,9,10
Cancer
This month give mixed result. Gain of object, pleasure fro children, trouble caused by relatives and friends. Separation from family. You may easily recover your due money, your enemies will be defeated by one by one however your one wrong decision may convert your profit to lose. Your ambition in real property are not likely to be fulfilled, income and profit from property may be affected by the obstacles. This is an ordinary month fore serviceman with a happy union of tour program. Professionals and businessman may get from relief from certain past problems. And get advancement in carrier For women nothing series need to be feared in domestic life but relatives outside the family may proves some what trouble sum. Auspicious Dates: April 21,22,23,24,29,30,May 3,4,10,11,12,13
Leo
This month give mixed result. Gainful enterprises enjoyment of good conveyances, virtuous life and article of enjoyment, travel for business expansion, good relation with Bose. Happy news about kids affection to spouse are the good results. Stomach and rectal complaints may erase. You should be beware of emotional involvement. A family dispute can create unpleasant situation. You should use your managerial skill in financial field to overcome financial hardship. There will be a distinct, turn for a better profession and business. Quarrel and misunderstanding are likely in domestic circle. Those in service have good time. Professional and businessman may not get relief in this month. Auspicious Dates: April 25,26,27,28 May2,3,5,6,11,12,13,14
Virgo
This month is inauspicious, some kind of ailment and injuries you are likely to encounter minor quarrel with domestic life, your project will be held up under the last moment. Some activities of children may
cause you worry. You can brighten your future by your efforts. Enemies become stronger. Do not give any loans to anyone., else you may lose your money forever. Building construction will come to a stand still position. It is not advice to go to speculation deals. This month is satisfactory for real estate matters. Professional and businessman are likely to be busy with profitable turn over. For women it is not good period for romance.
for acquisition of property. Litigation may end in favorable orders, unemployed person is likely to enter service. Servicers will have a close rapport with the high officials. Businessman will travel with family members to distant places. Lovers and beloved will have a sweet month.
Auspicious Dates: April 27,28,29,30 May 4,5,7,8,13,14,18,19
This month is not such favorable. Loss of health and prestige. Financial worries and fruitless travel are the effects of adverse influence of the planet. Recover the money given to loan. In the working places you may get appreciation from the sincere. May have fight with someone without any cause. Be careful while dealing with strangers, as they may tries to exploit you emotionally. You can discharge your duties efficiently. Professional may concentrate in new assignments and get good profit. Business man must avoid laziness. You may get new business assignment. Women may participate in social and family functions which may trill the entire gathering.
Libra
This month is auspicious. Success over rivals, and gainful enterprises. Success in court cases. Construction works gather momentum, some secret ailment can trouble you, family atmosphere will be quit quadrille, unmarried get married. Keep a check on your anger. Be careful about what you eat and drink. It is advisable to avoid arguments with spouse. Get success in all financial dealings and you will be able to settlement one of your old commitments. Real property business will be satisfactory. Servicers have good period. In office you will have a strict and rigid attitude. Businessman is likely to have good progress. Auspicious Dates: April 19,20,21,22,29,30May 1,2,5,6,9,10
Scorpio
Even though this month is in auspicious some good thing will also been experienced. Success over enemies, realization of lended money, gain from distant travel. Loss of health and fear from thief ,displeasure from superiors and unhappy moods, You may avail to loan for the education of the children. You may have good new contacts, love and friendship may keep you in good cheer. You will feel financial hardship in this period. Even regular income may affected Unexpected travel and health problem may arise. Not good for speculation and real property matters. Those in service may find restless and transferred to distant place. Business and profession are likely to face setback. Auspicious Dates: April 21,22,23,24 May 1,2,3,4,8,9,11,12
Sagittarius
This month have mixed result. Auspicious celebration in the family, article of enjoyment and all round prosperity are indicated. Along with minor ailments and tendency towards extra vagent expenditure are denoted. Difference opinions may erase between the spouses. You will feel quite energetic despite advice circumstances, the month is favorable for money dealings, transaction etc. chance
Auspicious Dates: April 20,21,22,23 May 3,4,5,6,10,11,12
Capricorn
Auspicious Dates: April 19,20,26,27,28 May 5,6,7,8,11,12
Aquarius
This month may give satisfactory result. Relief from disease and obligations. Gainful enterprises and general property may expected Gain much political influence. Wrong invest may trap your money. There may be difference in opinion with your father. Property related dispute can be settled favorably unmarried get married, There is a change of exchange of vehicles. Avoid speculation ,good month for real property business ,this is not a satisfactory month for serviceman. Love affairs and romance will play a prominent and fruitful path for women. Auspicious Dates: April 21,22,27,28,29,30, May 7,8,9,10,13,14
Pisces
This month is favorable .Gain through travel, family property, increase of wealth, a chance of meeting with an intimate friend, good news about you r getting some award is likely, may go out for family to enjoyment. Dispute regarding property right may go to court. Change in domestic condition make you emotionally strong, you may take some important family decision. New offers or contract may be received to professional. Good month for speculation, Servicers will find this month extremely satisfactory. Businessman is likely to have a profitable month. Auspicious Dates: April 19,20,25,26 May 1,2,3,4,10,11,12 41
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April 2012
Award
K
erala Kalakendram has celebrated International Women’s day by honouring eminent women personalities in India by presenting Shreeratna awards. Kerala Kalakendram, affiliated to Kerala Sangeeta Nataka Akademi, Government of Kerala, presented Shreeratna Awards 2012 to Her Highness Aswathy Thirunal Gouri
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Lakshmi Bayi, Princess of Travancore, Ms. Justice M. Fathima Beevi, Former Governer of Tamil Nadu, Ms. Diya Garware Ibanez, Managing Director, Garware Bestretch Ltd. Pune, Dr. T.N. Seema MP, State President, All India Democratic Women’s Association, Ms. Suma Varma, Regional Director, Reserve Bank of India, Thiruvananthapuram and Adv.Bindu Krishna, Kerala Pradesh Mahila Congress. The awards have given away by Mr. Vakkom B. Purushothaman, the Governor of Mizoram. The function held at Mascot hotel was presided over by Mr. G. Karthikeyan. Mr. P. K. Kunhalikkutty, Minister for Industries and IT delivered the key note address and Mr. M. Vijayakumar, former Speaker, Kerala Legislative Assembly felicitated the function. Welcome address expressed by Mr. Ananda Kumar, General Secretary Kerala Kalakendram and Ms. Geethanjali Pillai proposed vote of thanks.
Brand
T
yre-maker Michelin launched Michelin Energy XM2, a tyre dedicated to improving fuel saving, mileage and safety. Designed specifically for compact and mid-sized passenger cars, Michelin Energy XM2 will target the mass market. It uses less fuel,
thanks to an 8 per cent reduction in rolling resistance, lasts up to 15 per cent longer (fewer tyre replacements), and stops 1.7 m shorter. The new Michelin Energy XM2 will be available in sizes ranging from 12 inches to 15 inches at prices ranging from Rs.2,475 up to Rs.6,075.
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Te c h n o l o g y
R
s. 42 crore allocated for Infopark, Kochi, in the State Budget will give a big push to its second phase expansion. The allocation has boosted its chances of raising the targeted fund for the current
S
amsung Electronics is targeting to double sales of tablets in India in the current year. The company clocked sales of three lakh units in 2011 and sees a challenge in growing the tablets penetration dramatically. The market for tablets was set to grow significantly as also the demand for smart phones in which Samsung was a leading player. Samsung, which reportedly registered Rs.20,000crore turnover in 2011, is, therefore, working on innovative upcoming technologies such as AllShare that will take support of the cloud, if essential, keeping customers’ requirements in mind. The prices of smart phones would come down as the economies of scale progressed. Samsung Home Appliances, on its part, is targeting to double its market share in the smart TV segment. This segment is small, with a mere 3 per cent penetration in the country in 2011 and this is expected to grow 5 per cent in the current year. The average gap between the prices of traditional CRTs and flat panels was coming down significantly and the company was keen on addressing customers’ concerns such as electricity fluctuations and need for louder audio systems in designing its products.
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financial year. The allocation is an increase of 47.36 per cent compared to the budgetary assistance of Rs. 28.50 crore provided during the last year. The Infopark’s extension in Koratty and Ambalapuzha will also benefit from Rs. 17 crore allocated with Kozhikode IT Park being the other beneficiary. Infopark will invest about Rs. 250 crore during next financial for its second phase of expansion and that of
Te c h n o l o g y
its spokes in Cherthala, Ambalapuzha and Koratty. Construction work was already underway on the second phase proposed on 160-odd acres in Puthencruz and Kunnathunadu villages and the first IT building with an estimate built-up space of 5 lakh sq.ft is likely to be ready by December next year. By 2020, the second phase will generate 80,000 jobs. Infopark is exploring the scope for getting more land for expanding its built-up space in Koratty IT Park from the existing 55,000 sq.ft. The park will go for Special Economic Zone status if more land is available or else it will opt for two-lakh sq.ft-IT building capable of generating 2,000 jobs as a non-SEZ facility.
A
s part of its CSR activity, UST Global, leading IT Services Company in association with Kanthari, a project of the Trivandrum based International Institute for Social Entrepreneurs (IISE), has launched iSave, a free mobile application on the Android platform for women. iSave will enable women to pre-programme key contacts for an automatic SMS in case of an emergency. Mr. Alexander Varghese, Country Head, UST Global said, “It’s a small contribution from our side for the women of Trivandrum on the International Women’s Day. The Android App can be programmed to alert up to five different numbers, which can be relatives or even the police. In an emergency, the person needs to press one button. The application also has the capacity to track their movement through GPS even if the mobile is switched off. This feature can be very useful in a worst case scenario like kidnapping.” Trivandrum Global City of Innovation (TGCi) is a venture of Kanthari International and as the event fell on International Women’s Day, CII and TGCi announced a series of initiatives to empower and cultivate women within the region to become forces of positive social change. Mr. C Padmakumar, Chairman, CII Trivandrum Zone said, “CII believes that Trivandrum can be a Global City of Innovation only if it becomes a city which attracts women because it is safe, has a great quality of life, and is a place where women can work, relax and fulfil their promise and potential. The iSave app is one such initiative in support of female empowerment.” Mr. Alexei Levene, Director, IISE said, “UST Global is one of our Technology partners and we are closely working with them to launch several innovative products. Our Technology partners collaborate around technology in support of the TGCi vision. The app can be downloaded via tgci.in”. 45
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April 2012
Automobile
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ahindra is amidst an ambitious project in offering the Indian customer with a small MUV. The company has modified the Xylo platform to offer it in a smaller avatar. Mahindra India is planning to introduce a smaller and lighter version of Xylo, the Mini Xylo Hatch. This vehicle is a 5-seater and marks the entry of Mahindra & Mahindra into the segment of 4-meter cars. The Xylo Mini is expected to come with a 1498 cc 3-cylinder CRDI engine. It is a compact SUV, which is similar to Mahindra Xylo in features and specifications. The main advantage of the car is its low price in comparison to other hatchbacks and sedans. While the wheelbase remains the same, the rear overhang has been chopped. In profile the smaller wheels and tyres are evident and that has resulted in the wheel wells looking a tad empty. The car is expected to be equipped with 15 inch alloy wheels just like the standard Mahindra Xylo. The engine has been made available with 5-speed manual gearbox. The front-end design and interiors are like the current Xylo. It is a B+Segment diesel fueled car. In addition, the car comes with independent and multilink coil springs. The mini Xylo is expected to come with a downsized version of the 1.5-litre Dci engine which
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the company can source from Renault. The boot though will be in tune with other small cars. The availability of Driver’s Airbag and Passenger airbag in the car is the most important safety measure which expected in the Mini Xylo. Engine Immobilizer will be an additional feature which will protect the car from the unwelcomed guests. The ABS will ensure the prevention of wheel lock in case of abrupt braking and keeps the car steer able. Other safety features are front axels with anti roll bars on the suspension, Front headrest, 3 rear headrest, and Powerful fog lamps for clear vision in any weather condition. The car will also be fitted with seat belt warning system with adjustable seat belts in front. Mahindra Mini Xylo might come added with Body Color Bumpers, Tachometer, Trip Meter, Rear Seat Belts, A/C without climate control feature, Power windows, Central Locking, Remote Fuel Filler, Rear Wiper, Manual Driver Seat Adjustment, Optional Music System, Rear A/C Vent and much more. Stylish features like door pads with leather interiors, chromed inner door handles, sporty cockpit, Leather wrapped Gear, drive selection and parking brake levers, wood print panels, multimeter, dual tone leather upholstery will also expected and will be equipped with number of accessories like speaker, USB Connector, etc. The high powered engine of Mahindra Xylo Mini is expected to deliver a mileage of 10 more kmpl in the city and 15 more kmpl on the highways. Expected launch is by the middle of 2012 with an expected price of Rs 4-6 lakh.
Automobile
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ndia’s largest carmaker Maruti Suzuki India Ltd would invest Rs.1,700 crore to set up a new diesel engine plant at its Gurgaon complex that would become operational by mid-2013. And also will invest Rs.900 crore at its upcoming research and development centre at Rohtak in Haryana. The operations of new plant would begin by mid-2013 with an initial capacity of 1.5 lakh units per annum. In the first phase the company will invest Rs.950 crore and after that they will double the capacity to 3-lakh units per year by 2014. Rs.900 crore would be spent on adding various facilities, including testing for emission and safety. This would be over and above the Rs.1,500 crore earlier announced to set up the test track. Significantly,
Maruti Suzuki has seen decline in its petrol car sales, while waiting period on its diesel cars is increasing due to growing demand. MSIL is expecting its diesel car sales to increase by 1.5-lakh units in 2012-13, while in the current fiscal; it would sell around 2.4-lakh units. The company is expecting an overall growth including both petrol and diesel cars of about 10 per cent in the next fiscal. MSIL, at present, sources its diesel engines from Suzuki Powertrain India Ltd and Fiat India. To meet the growing demand for its diesel cars, SPIL is ramping up its diesel engine capacity from 2.4-lakh units to 3-lakh units annually, while MSIL has already started getting increased supply of one-lakh diesel engines per year from Fiat from January this year.
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Automobile
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lmost all major carmakers have started increasing prices of their vehicles that is manufacturing luxury sedans and sports utility vehicles following Budget announcement of hiking excise duty. Hyundai and Toyota announced a hike first while others like Maruti Suzuki, Tata Motors, General Motors, Honda, Ford and Mahindra & Mahindra were going through the Budget proposals before finalising the hike. Likewise, luxury carmakers such as BMW and Mercedes and will also likely to announce price increase soon. The range of price hike in Hyundai’s cars would be between Rs.5,000 for entry-level hatchback Eon and Rs.80,000 for SUV Santa Fe, while in the case of Toyota, it would be from Rs.9,500 for Liva to Rs.80,000 for SUV Fortuner. The hike in prices of imported luxury cars and SUVs could be in lakhs due to step increase in customs duty. Mercedes Benz India would hike its product prices by up to Rs.3 lakh. Premium car maker Volvo Auto India had increased the prices of its entire range of models by up to Rs.1.30
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lakh. The prices for Volvo S60, S80, XC60 and XC90 have been increased after the budget was announced for 2012-13. The prices have been increased by less than 3 per cent for all the models. The minimum price increase is Rs.1 lakh, while the maximum is Rs.1.30 lakh. The sedan S60 is now available for Rs.25 lakh, while the S80 is offered at Rs.28 lakh. Similarly the SUV XC60 will now be available at Rs.35.25 lakh. Skoda Auto India said it has raised the prices between 2.2 per cent and 5.1 per cent across all its products due to hike in excise duty. As per the revised prices, its hatchback Fabia will start at Rs.4.60 lakh, while the sedan Rapid will now be available at a starting price of Rs.6.90 lakh. Premium sedan Laura will now start at Rs.12.90 lakh and SUV Yeti will be available at a starting price of Rs.13.90 lakh. The flagship sedan Superb will also see a price rise and will retail at a starting price of Rs.19.60 lakh. Following increase in excise and import duties in the Union Budget 2012-13, two carmakers — Honda and Audi —announced hike in the prices of their products across models. While Honda cars will see its prices go up
by Rs.4,000-94,000, Audi has hiked prices of its imported cars by 1314 per cent and those locally produced by 3.4-3.7 per cent. Stating that the new prices would be effective from March 17, Honda Siel Cars India said the new prices of its entry level compact car Brio would be hiked between Rs.4,000 and Rs.10,000, while the prices of premium compact car Jazz would go up by Rs.14,97215,000. Similarly, sedan City would become dearer by Rs.5,00010,500, while Civic sedan prices would go up by Rs.36,600-45,800. Japan carmaker’s luxury sedan Accord would now be costlier by Rs.67,500-93,975 depending on the variant. For fully-built unit (FBU) models such as Audi A7 Sportback, Audi A8 L and Audi RS5, customs duty has increased from 60 per cent to 75 per cent. As a result, prices for these models have increased in the range of 13-14 per cent. The Audi A7 Sportback is priced at Rs.66-lakh onwards, while Audi RS5 now begins at Rs.85.95-lakh. Similarly, in view of the excise duty increase from 22 per cent to 27 per cent, models such as Audi A4, Audi A6 and Audi Q5 have incurred a price increase in the range of 3.4-3.7 per cent. The Audi A4 is now priced at Rs.30.60-lakh. The reason why companies are taking time in hiking car prices is due to the confusion over categorisation of cars for imposing duties. Duty on large cars has been hiked from 22 per cent to 24 per cent; and in the case of cars that attract a mixed rate of duty of 22 per cent plus Rs.15, 000 per vehicle; an ad valorem rate of 27 per cent will be imposed. Similarly, customs duty on completely-built large cars and SUVs of value exceeding $40,000 has also been hiked from 60 per cent to 75 per cent. Further, the car manufacturers want to factor in the impact of the hike in customs duty on the ‘flat-rolled’ steel from 5 per cent to 7 per cent before hiking prices. 49
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April 2012
Award
Mr. A.P. Anilkumar, Minister for Tourism, Govt. of Kerala receiving the National Tourism Award for Best Website from Smt. Prathiba Singh Patil, President of India at New Delhi. Mr. Subhodh Kant Sahai, Union Minister for Tourism, Mr. Sulthan Ahammed, Union Minister of State for Tourism and Mr. T.K. Manoj Kumar IAS, Secretary Tourism, Kerala are also seen
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erala Tourism Department and Five private sector Hotels & Resorts from the state stand out at National Tourism Award 2011-12 dais and conveyed their strong presence in the tourism industry of Kerala. Kerala Tourism won the award for Best IT related performance for its website www.keralatourism.org. Ms. Pratibha Devisingh Patil, Presi足dent of India gave away the
National Tour足ism Awards at New Delhi to The Gateway, Cochin ( Best Five Star Hotels in India) , Vivanta by Taj Kumarakom (Best Four Star Hotel) , Malabar House, Fort Kochi (Best Heritage Hotel- Classic), Le Meridien International Convention Centre Cochin (Best Convention Center ) and Somatheeram Ayurveda Hospital & Yoga Centre, Chowara, Trivandrum (Best wellness centre in India).
Mr. Mohammed Ali, Chairman, M Far Hotels Cochin and Mr. Rajesh Madan, General Manager, Le Meridien Cochin receiving the award from The President for Best Convention Centre ( Hotel based) in India 50
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April 2012
L
e Meridien Cochin Resort & Convention Centre is located at the heart of one of India’s most naturally beautiful cities. Le Meridien Cochin Resort & Convention Centre is a five-star hotel with 223 rooms and suites that are fashionably luxurious. The hotel features an array of dining options, venues for live entertainment,
an Ayurvedic spa, a three-tiered outdoor swimming pool, a whirlpool, and a fitness club. The Conference Centre has 12 conference halls, including a variety of indoor and outdoor meeting spaces. Nestled amidst 25 acres of verdant expanse, comprising coconut groves and backwater river waters, this 5 Star resort maintains 72 state-of-the-art suites.
Tradition, Culture, History, Ayurveda, Yoga, Beach and Nature; offers breathtakingly beautiful landscape. The resort offers Ayurveda, yoga and meditation in a peaceful and captivating setting. The resort was established in a tropical garden. The accommodation was built in the traditional style of southern India, and most of the bungalows afford Dr. Polly Mathew, CMD and Mrs. Tressa Polly, Director of Somatheeram Ayurveda Hospital & Yoga a lovely view of the sea. Centre receiving the award from The President The state government has omatheeram, the world’s first Ayurvedic resort, is awarded the Somatheeram Ayurvedic Health Resort the located at Chowara Beach on a hillock 9 km south of commendation of “Best Ayurvedic Centre” several times the famous Kovalam Beach, Trivandrum, Kerala with over for the quality of its service. This makes it the only resort to 15 acres of greenery all around. Somatheeram Ayurveda have received this approbation more than once. Resort is unique in every aspect. A complete resort with
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Mr. Suman Dutta Sharma, General Manager, Gateway Hotel Cochin receiving the award from The President for Best Five Star Hotel in India
he Gateway Hotel is located on the waterfront, overlooking the famous backwaters of Cochin. Cochin being a busy commercial centre, the hotel is perfectly suited to host meetings and receptions. All the 108 rooms including 12 suites of The Gateway Hotel Cochin offer distinctive elegance and comfort and stunning view of the sea, harbour, backwaters of Cochin and of the sunset. Guest Amenities are provided in all rooms .The hotel offers Multicuisine Restaurant, 24 hour fitness center, Travel desk, Car and boat rental, Safe deposit lockers, Foreign exchange, Medical Assistance, Babysitting, Laundry service, Conferences and much more. Part of the Taj Group of Hotels, the Gateway Hotels & Resorts are full service upscale hotels and resorts in the South Asia region. 51
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April 2012
Explore the garden retreat where guests have been very successful at doing absolutely nothing. Now there’s a nice new buzz all over. In the renewed heritage rooms, charming cottages and luxury villas. In the nouvelle restaurant, the refurbished bar, and the spa where you’ll go. The Chef remains as eager to wow you with specially designed meals. Feel the Mr. Sibi Mathew, General Manager, Vivanta by Taj, Kumarakom receiving the award from The Presi- Vivanta by Taj vibe as you dent for Best Four Star Hotel in India find little surprises delighting you all the way during ivanta by Taj - Kumarakom has a 140 year old story to your stay, where fun lovers come again and again for tell. The natural beauty of the area inspired English a fun retreat. This idyllic retreat allows you to lead a Missionary Henry Baker, to build a charming colonial still life, or if you prefer to go from nature to advenbungalow in the late 19th century. Often called ‘The ture, from culture to cuisine, and from rejuvenation to Little Jewel of Kumarakom’ still maintains the beauty of religion. its rustic surroundings on the banks of Vembanad Lake.
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away; the Vembanad Lake just an hours drive. Designed to the last detail and furnished with select antiques and art, the Malabar House seamlessly combines tradition & contemporary design. The feel is small, cozy & personal, a heaven amidst this vibrant yet historical harbour city. The Malabar House has won countMrs. Txuku Iriarte, Director and Mr. Mervin Issac , General Manager, The Malabar House Fort Cochin less awards, including a receiving the award from The President for Best Heritage Classic Hotel in India national tourism prize - the only Indian hotel to he Malabar House is situated in the heart of historihave been awarded the Green Globe 21 certificate for cal Fort Cochin, opposite St. Francis Church and sustainable tourism. Malabar House is a small luxury 3 minutes walk to the Chinese fishing nets. It is ideally hotel with an interior that manages to seamlessly blend located for sightseeing, shopping and backwater cruises. the traditional Kerala style and contemporary design. Jew town with its vast curio and antique market is 3 km
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April 2012
News
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Mr. DD Singh, Zonal Manager, LIC, South Zone
Mr. Thiagarajan Krishnaraj, VP, Congnizant Technology Solutions
ognizant, the fastest growing IT company, has entered into a tie up with LIC, the Market Leader in Life Insurance, and launched a unique customized portal for Cognizant employees. LIC has a portal for all its customers through the customers can register their policies and track dates of premium payments, maturity payments etc. This is a general portal for all LIC customers having a valid email id and mobile number. A customized portal only for the use of cognizant, beneficial to both the employer and employees has now been launched. Cognizant employees will first register in the general customer portal and obtain a valid user id. They will then visit the customized portal created for cognizant and register all those policies which need to be included for claiming income tax rebate. Cognizant would then make use of the same portal to validate the submissions made by checking and confirming the correctness of employee ID and PAN. Every month LIC would share with cognizant, before the payroll process, the premium paid details of all the policies registered by Cognizant employees. Cognizant would use the electronic data furnished by LIC for giving credit for IT rebate without the need to wait for submission of hard copy proofs of premium payments. Obtaining and verifying proofs of LIC premium payment from all Cognizant employees was often a laborious and time consuming exercise. Mr. D. D. Singh, Zonal Manger, LIC South zone said, �By introducing this idea of electronic data gathering, Cognizant has dispensed with the laborious task in one masterful stroke, while also cutting down the processing time both for itself and for its employees�. Mr. Thiagarajan Krishnaraj, Vice President (Global Finance), Cognizant Technology Solutions India Pvt. Ltd said with the advent of this e-initiative, Cognizant has dispensed with the cut off date for all LIC premium payments, as the data can be electronically supplied at any time, even up to the last day of the financial year. Cognizant has made very significant contribution towards a green environment by saving a lot of time and manpower and also earn carbon credits for saving paper, since it has a huge base of LIC policy holders. 53
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April 2012
Brand
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hirlpool of India has planned to invest Rs.100 crore on innovation to bring more India-specific products across various categories. The company has also launched a new range of refrigerators, air-conditioners and microwaves with innovative features, targeting the leadership position by 2015. Whirlpool of India, a subsidiary of U.S.-based Whirlpool Corporation, has also introduced its new 160 products across six categories such as refrigerators, washing machines, air-conditioners, microwave, water purifiers and built-in kitchen appliances priced between Rs.10,000 and Rs.1 lakh. The company has chalked out an ambitious Rs.100 crore marketing plan. The Whirlpool’s current market share in the home appliances market, estimated at around Rs.35,000 crore, is around 18 per cent and is likely to go up to 25 per cent by the end of 2012.
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O w n e d , E d i t e d , P r i n t e d a n d P u b l i s h e d b y R a v i s a n k a r K . V . P r i n t e d a t A r s h a O f f s e t G r a p h i x , Shreehari, T.C.9/2519-1, Janvilla Lane, Vellayambalam, Sasthamangalam, Thiruvananthapuram - 695 010 and Published from TC 9/1785, P-99, Anandam, Pullekonam Lane, Sasthamangalam P.O., Thiruvananthapuram-695010, Kerala, India Editor: Ravisankar K.V.
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BrandKerala
July 2011
RNI Reg. No. KERENG 2010/36920
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BrandKerala
July 2011
Vol. 02
No. 03
April 2012
Licence of Post KL/TV(S)/374/2011-2013