December

RNI No.MPBIL01854

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ith the Kisan Vikas Patra (KVP) reintroduced to investors after a hiatus, this small savings scheme has made a comeback with relatively 'easier' norms for investing. It also retains much of its older 'charm'. But should you put in your money in it? Well, maybe not.

The PPF and NSC might still be better choices as they offer a better deal, especially on a post-tax basis for those in the higher tax brackets. Of course, for the unbanked and those without PAN numbers, it makes sense to channelize savings into the KVP. Those in the 10 per cent tax slab too can consider putting a small portion in it. The only major difference in the new KVP is that the investment matures in 100 months (i.e. eight years and four months) instead of the eight years and seven months in its previous avatar. The new KVP can be

purchased in denominations of Rs.1,000, Rs.,000, Rs.10,000 and Rs.50,000. You can invest as much as you wish in the instrument, as there are no limits to the amounts that you can park in it. The doubling of the investment in 100 months means that the annual interest rate is around 8.7 per cent. The amount can be pulled out after a minimum lock-in of two years and six months, in case of emergencies.

There is no requirement of a PAN card to invest in the KVP. But the 'know your customer' (KYC) norms do apply. You can show any of the specified photo IDs for identification and address purposes. When normal KYC norms apply (such as while opening FDs with banks), investments of over Rs.50,000 require production of a PAN number and when more than Rs.10 lakh is parked,

the source of funds needs to be specified. It is still not clear if these norms apply in the case of investing in KVP. You can invest in cash or by cheque and will be given certificates equivalent to the amounts that you have parked.

Investments can be made in the name of a minor child as well. The names in the KVP certificates are transferable and so if you want to gift or make over these to someone, you are allowed to do so. Maturity proceeds are also paid in cash or by a cheque. You can also avail of loans against KVP certificates.

Investors have better small saving options compared to the KVP. For one, the instrument does not carry benefits of 80C tax deduction, which options such as NSC and PPF enjoy.

Also, on a post-tax basis, KVP's effective interest rate works out to

New Delhi: India's economic growth probably slowed to around 5 percent in the three months to September, slipping from 5.7 percent in the previous quarter, two senior finance ministry sources said, putting pressure on the central bank to cut interest rates. The sources said Finance Minister Arun Jaitley would argue forcefully for Reserve Bank of India (RBI) Governor Raghuram Rajan to lower interest rates. Six months after Prime Minister Narendra Modi swept to power with a promise that "better days are coming", growth of 5 percent would be a serious slip back from the previous quarter and falls far short of the 8 percent that Asia's third-largest economy needs to create enough jobs for its growing workforce.

Indian finance ministers often "jawbone" the RBI on interest rates, but Jaitley's calls have become unusually insistent of late. Aides say he will make the case for cuts forcefully when he meets Rajan."When Rajan meets the finance minister ahead of the policy review, he would be urged to cut the interest rates," one senior finance ministry

official with direct knowledge of the matter told media .

"A rate cut is the only hope for industry facing poor domestic and external demand," the official said.

The hawkish former IMF chief economist has made it his mission to introduce inflation targeting to India, a country long plagued by doubledigit price rises that hurt the more than 700 million people who live on $2 a day or less.

So while factors such as weak international oil prices and flagging export demand have prompted Asia's top two economies, China and Japan, to take aggressive action to ease monetary policy, Rajan has held out.

Policy makers in New Delhi say the RBI should follow suit, ratcheting up the pressure on a central bank that enjoys policy autonomy but lacks the kind of independence enjoyed by central banks in the West.

"Rajan would have to really work hard to convince the Finance Minister why he will not cut interest rates this time," said another finance ministry official who is responsible for tax policy.

After two years of sub-5 percent growth, India's $2 trillion economy is

struggling to break consistently above that level, which means tax take for the year to end March is now set to miss budget by as much as 900 billion rupees ($15 billion), the second official estimated.

Jaitley has so far vowed to uphold a fiscal deficit target of 4.1 percent of GDP, but his aides caution that any further cuts in spending that the government has to make to hit it could further sap growth.

"Expenditure cuts are certain, and that means a further slowdown in the e c o n o m y, " t h e o ff i c i a l s a i d .

Independent economists caution, however, that cuts in interest rates may not be the best medicine for India, which is in desperate need of structural reforms to make it easier to do business.

"A rate cut will have a sentiment boost impact for consumers but then that sentiment boost won't last long as the supply side is constrained," said Indranil Pan, chief economist at Kotak Mahindra Bank."The fall in inflation is not a structural correction but a cyclical correction because oil, commodity prices are not in our hands and they can turn anytime."

only 6.1 per cent for those in the 30 per cent tax slab and 6.9 per cent for those in the 20 per cent category. PPF interest on the other hand, is tax–free while only the previous year's interest on NSC is taxed.

The PPF, a 15-year product, offers 8.7 per cent interest. But it is allowed for deduction under Section 80C for tax purposes and interest and maturity proceeds are fully tax free. It is thus suitable for investors in all tax brackets. The 10-year NSC offers an interest rate of 8.8 per cent, which is marginally higher than what the KVP

Patience, persistence and perspiration make an unbeatable combination for success. - Nepoleon hill.

offers. So, the effective interest rate on a post-tax basis works out higher than the KVP, more so if benefits of tax deduction under Section 80C are considered. Certainly, the interest rates and absence of tax benefits don't offer any compelling reasons to invest in the KVP. Of course, for those without bank accounts and without a PAN number, this may be a viable option to channelize savings. Those seeking anonymity and seeking to avoid the 'pain' of tax deductions at source (TDS) may also wish to park sums in the KVP.

Ahmedabad: Confederation of Real Estate Developers Associations' of India (CREDAI), the apex body of housing and habitat providers with over 9,000 members spread across 23 states and 151 city chapters, has announced that it is all set to embark upon a series of significant initiatives to reiterate its commitment to the development of housing and habitat in India in a modern, futuristic way. The pledge for a 'Swachh Bharat' by the time of 150th birth anniversary of Mahatma Gandhi in 2019 has touched a chord with Real Estate Developers Associations fraternity. While its members have been silently engaged in experimenting with alternative models for garbage reduction and waste management, the success of 'CREDAI Kochi Clean City Movement' and the 'Magarpatta City' and 'Nanded City' initiatives has given fillip to the voluntary effort by developers in reducing garbage in some of the urban areas. The apex body's members have deliberated such initiatives at Annual 'CREDAI Conclave 2014' in New Delhi concluded last month , which has become the most effective platform for policy discourse on housing and shelter, bringing the political leadership, experts and industry together.

This year, 'CREDAI Conclave' will specially take two concrete steps this year: • The first is a “Clean India Pledge” by all the delegates at the Conclave 2014. With this pledge, CREDAI would become the first among the associations of industry to adopt 'Swachh Bharat mission' as an organizational Endeavour.

• The second is the institution of a campaign for “zero garbage in the housing complexes” being developed by our members.

“We believe that we are in the enterprise of providing housing to the nation because a house is everyone's dream of a better, healthier and more secure life.

Our members are coming forth to voluntarily adopt zero garbage principle in all their developments which would be formally announced at Delhi Conclave leading to reduction of garbage by at least 10,00,000 (TEN LAKH M.T) tonne per annum in the very first year in important urban clusters all over India” informed Mr. Jaxay Shah, National Vice president of CREDAI. CREDAI has also reiterated its commitment to Skill Development also since Real estate sector is the largest employer after agriculture. To give its commitment a new meaning,

CREDAI for the first time among Industry Associations, has pledged to provide vocational and technical training to labour on-site through a special initiative named “KUSHAL”.

Kushal is ventured by CREDAI jointly with NSDC to increase the skilled manpower for construction industry and reduce the existing gap between the demand and supply of skilled manpower. “Kushal” model envisages that the expenses of on-site material and infrastructure are borne by developers and the rest is funded by NSDC. ”Under “Kushal”, 138 centers have been opened by 75 developers with about 60 expert trainers. This is proposed to be extended to other places. CREDAI Maharashtra has taken up an on the job site training programme under the aegis of this programme” Said Mr. Getamber Anand, President Elect, CREDAI. CREDAI, in its bid for advocacy through learning, organizes a national Conclave at Delhi every year since its inception in 1999. More than 1000 housing and habitat entrepreneurs from all over the Country are expected to attend the “CREDAI Conclave 2014” this year at Hotel Taj Palace, New Delhi. Prime Minister, Shri Narendra Modi also addressed the Delegates of CREDAI Conclave 2014 through an Audio Visual Link and

provide CREDAI with a sense of direction on their endeavor of “Clean India- Skilled India- Strong India”.

A galaxy of dignitaries attended includes Shri M. Venkaiah Naidu, Union Minister of Urban Development, Housing and Urban Poverty Alleviation, Parliament Affairs, Shri P. Ashok Gajapathi Raju, Union Minister for Civil Aviation, Shri Prakash Javadekar, Union Minister for Environment and Forests, Shri Piyush Goyal, Union Minister for Power, Coal and New & Renewable Energy , Shri Rajiv Pratap Rudy, Union Minister for Skill Development, Shri Ram Kripal Yadav, Union Minister of Drinking Water and Sanitation and Shri Arun Jaitley, Union Minister for Finance At the Conclave, CREDAI also unveiled other initiatives on Skill Development including setting up a Greenfield institution for Skill Development in Real Estate Sector. The Conclave would also be deliberating the alternative models of implementing the smart cities concept so that the opportunities of involving private sector developers are appreciated and Public Private Partnerships become conceivable. CREDAI fraternity is enthused that the Government has adopted 'Housing for All by 2022' as an explicit policy objective. This clears

Aarti Sanghi announced as First chairperson he 11thchapter of FICCI Ladies Confederation of Asia-Pacific Organisation was launched at Chambers of Commerce and Industry Indore on December 10, 2014, (CACCI) Women Entrepreneurs marking the presence of FLO in the Council (CWEC); SAARC Chamber heart of India in the State of Madhya Women Entrepreneurs Council Pradesh. The National President of (SCWEC); International Women’s FICCI Ladies Organisation Neeta Entrepreneurial Challenge (IWEC); Boochra graced the launch of the INDIA-SWEDEN Partnership Chapter. The esteemed guests at the Exchange Programme for Women Launch were – Sally Holkar, CEO & Entrepreneurs; GIWC (Women wing Founder of Women Weave Charitable of GOPIO); Women Corporate Trust; Uma Shashi Sharma, Former Directors (WCD); National and State Mayor of Indore and Dr. Divya Gupta, Commissions for Women; UNDP; renowned physician from Indore. UN Women; UNESCAP; Hans Seidel The programme was very well Foundation apart from Corporate attended, with everal dynamic women Sectors & Government of India. entrepreneurs and professionals from She also added, “When it comes to Indore and neighbouring cities competitive entrepreneurship, participating in it. Past Presidents of women in Indore have grabbed a FLO, Abha Dalmia & Shubhra Gupta, significant foothold in various Vice President Vinita Bimbhet, industries. FLO endeavors to Executive Director Dr. Manju Kalra promote women entrepreneurs and Prakash and Governing Body professionals and assist women Members, Ujjwala Singhania, Meera entrepreneurs to grow them Goyal, Seema Kothari, Sandhya professionally in Indore and the Sethi, Tanya Chabria also attended the launch of a FLO this Chapter will same. The National President Neeta help bring existing entrepreneurs, Boochra, while welcoming the potentials entrepreneurs and other distinguished guests and the members professionals under the FLO of the new Chapter, gave a very umbrella”. effective presentation about FICCI Indore Chapter will work towards Ladies Organisation and the work promoting entrepreneurship and being done by the organization in the professional excellence in women, as field of Women Empowerment. The also undertake various activities o rg a n i s a t i o n p r o v i d e s a m p l e pertaining to women empowerment opportunity to network & expand at three levels- grassroots, middle & their businesses. FLO is focusing on senior, through various capacity Skill Development initiatives for building, skill up gradation, policy creating opportunities for skill advocacy , industry round tables and e n h a n c e m e n t a n d e c o n o m i c thought leadership amongst other empowerment of women. Study with activities. The Chapter will also aim at UNESCAP on “Creating an Enabling enhancing the capabilities of women E n v i r o n m e n t f o r Wo m e n ’ s through appropriate awareness, Entrepreneurship in India”. A Ready t r a i n i n g a n d d e v e l o p m e n t Reckoner on "Laws Effecting Women programmes that enables women to in India" will be release on 16th Dec. contribute towards India’s socio 2014 during Interstate Meet at Jaipur. economic growth by fulfilling their An MOU has been signed for Women individual potential.

Entrepreneurs Park with The Ms Aarti Sanghi was announced as the Te l a n g a n a S t a t e I n d u s t r i a l first Chairperson of Indore Chapter. In Infrastructure Corporation (TSIIC), her acceptance speech, Ms Sanghi with an earmarked 50 acres of land. said “I am thankful to FLO for FLO is conducting Entrepreneurship giving me this opportunity. I hope I skill Development programs at grass am able to meet all the demands this root level to make rural women more position calls. I am looking forward employable and absorbable in to working with all of you and markets. contribute my best. With all your FLO has its great association with support, it won't be impossible”.

the path for our members to come forward and contribute their entrepreneurial skills and financial resources towards the mitigation of housing shortage, estimated at 18.78 million units, as well as to spur GDP growth through the backward and forward linkages of housing to about 250 other industries. The Conclave would deliberate the enabling policy measures for maximizing private efforts to ensure housing for all. These measures include long pending recommendations by the Committees appointed by the Government such as the followinga. Single Window Clearance for all projects b. T r e a t m e n t o f H o u s i n g a s infrastructure c. Facilitating flow of Funds for housing d. Harmonization of building byelaws and standardization e. Skill Development f. Efficient delivery of municipal services through public private partnerships The deliberations on the above initiatives of the fraternity of housing and real estate developers would be taken up after the Conclave to prepare a blueprint for action in the coming year by constituents of CREDAI at the National, State and City levels.

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e are blessed with the youngest population in the world. Every year, about five million students graduate from over 30,000 universities, colleges, industrial training institutes (ITI) and other educational institutions. Of these, about 1.5 million are from the nation's engineering colleges. A 2013 Ministry of Labour report, ' Yo u t h E m p l o y m e n t — Unemployment Scenario 20122013', found that one in three graduates remains unemployed even a year after graduation — in urban India, the ratio is one in four.

A big part of the problem is lack of appropriate skills. Several studies, including ones by leading consulting firms such as EY for the Federation of Indian Chambers of Commerce and Industry and by McKinsey for Nasscom, have found that only 25 per cent of college graduates are considered employable. There is a gap between college education and employability that needs to be bridged. Addressing the skill gap will require a few solutions. There are a number of skill development initiatives that both central and state governments have in place; however, by themselves, they may not produce the required results immediately.

Companies in India will have to invest much, much more in job training and development than is the current practice, in terms of a higher order of skill development that equips workers with the means and capacity to improve their job skills in pace with technological changes.

Vocational training seems an obvious option. There are over 11,000

vocational training institutions in India, of which over 2,100 are government-run ITIs, and the rest are privately run. In August this year, the labour ministry announced that it would overhaul the near-obsolete ITI system, and add another 1,500. In total, these have the capacity to train two million students a year. The courses will be designed to cater to industry needs, and open up new employment opportunities.

However, the benefits will become visible only in the next few years.

Prime Minister Narendra Modi's 'Make in India' initiative can also be the basis of the roadmap for skill development. Given the vast number of engineers India produces every year, a robust and fast-growing manufacturing industry could help absorb the large number of college students who graduate every year. As part of this, re-engineering the ITIs could go a long way to creating machine operators, mechanics and similar jobs that Indian companies need. Here again, the results will become tangible over the long term.

It is widely accepted that India's manufacturing industry could be much more developed and larger. But for a robust manufacturing sector, we should have the support of our abundant natural resources. That implies encouraging mining and exploration in ways and with a sense of urgency that we as a nation have not yet shown. A strong mining industry will go a long way to creating hundreds and thousands of new jobs, and not only for the recent graduates. To have the youngest population in the world is an advantage that is likely to stay with us for many years. Skilling this young population into becoming a productive workforce that will drive the engine of our economic development is imperative. Only then will the benefits of our demographic dividend materialize

If today were the last day of your life, would you want to do what you are about to do today? - Steve job

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eading Insulation Company “Insul-Well India”, got ISO 9001:2008 Quality Management Certification. This certification is conferred to Shri Sourabh Barjatiya of India Insul-Well recently. The company received the certificate from Shri Bijay Sharma Marketing Manger, Shark Certification. On this occasion Mr. Barjatiya expressed that due to adopting the standards of QMS the quality and efficiency of unit got dynamic changes. The Company Established in the year 1988, “Insul-Well India”, is a timehonored firm offering excellent Insulation Services, Hot Insulation, Cold Insulation, Acoustic Insulation, Ducting Insulation & Thermal Insulation and wide gamut of thermal Insulation Material, Insulation Material & Scaffolding Framework.

Indore: Product Certification has its own value and it will play an important role to realize concept of Make in India of the Prime minister.

There is lead position of product certification in MSME under national manufacturing competitiveness programme. This view has been expressed by Mukesh Tayal of Indian Standard Bureau at a seminar organized jointly by Association of industries MP and MSME development institute at Indore.

Bangalore: Indian rice exporters will be worst hit by a general ban on imports of rice imposed by Iran recently. The Iranian ban will further drag depressed prices of basmati rice in the domestic market.

Iran has barred rice from other countries as its local crop is reported to be good this year and is set to arrive in the market there.

Teheran has imported over 1.25 million tonnes (mt) of rice this year during April-July against 1.45 mt in the same period a year ago. Iran has bought over 2.5 million tones of basmati rice from India in the last two years.

“We feel the ban is temporary, but it will hit the exporters. Prices will also come under pressure,” said MP Jindal, President of All India Rice Exporters Association. Jindal, who is the Chairman of Best Foods International, a major exporter to Iran,

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he proliferation of mobile technology continues at a rapid pace, as revealed by the latest report on mobility by Ericsson. By the year 2020, 90 % of the world's population over six years old is predicted to have a mobile phone of which 6.1 billion will have a Smart phone subscription.

Fastest growth for new mobile subscriptions was found in India and China, with 18 million and 12 million net additions, respectively, in Q3 2014 and this two countries will lead mobile revolution 2020.

Rima Qureshi, Senior Vice President, Chief Strategy Officer and Head of M&A, Ericsson, says: The falling cost of handsets, coupled with improved usability and increasing network coverage, are factors that are making mobile technology a global phenomenon that will soon be available to the vast majority of the world's population, regardless of age or location. The Ericsson Mobility Report shows that in 2020 the world will be connected like never before.

Smartphone constituted 65-70 % of all phones sold in the third quarter of 2014, compared with 55 percent in the same quarter for 2013. Despite this increased rate of sales, which will see the addition of an estimated 800 million new Smartphone subscriptions by the end of 2014, there seems to be plenty of room for growth in the sector.

Smartphone currently account for just 37 percent of all mobile phone subscriptions, which means that many users have yet to make the switch to the more feature-rich, internetfriendly option. According to the

said officials of the industry body are meeting the Commerce Secretary on Friday to take up the issue at government-level with Iran.

According to Agricultural and Processed Food Products Exports Development Authority (Apeda), basmati exports to Iran during AprilJuly were valued at Rs. 1,732 crore against Rs. 1,810 crore a year ago. AK Gupta, Advisor to Apeda, said, “though the ban seems temporary, it may lead to loss of our market, which we may or may not regain”.

Gupta said the exports to Iran were lower by about three lakh tones in the current fiscal so far. Overall, the basmati exports this fiscal may end lower by 5-7 per cent at around 3.5 million tones, Gupta added.

The consensus among the Indian exporters is that Iran may re-open their markets by end-January or early February. Currently, the basmati paddy is ruling at around Rs.2, 960 a quintal, far lower than the Rs.5,360 it fetched during the same time a year ago, in the markets of Punjab and Haryana. The market seems to have factored in the Iranian ban as the rumors have been floating around over past three weeks, an exporter said. Basmati prices are down by about 30 per cent over last year, also New Delhi: The growth rate of eight influenced by a higher crop in India. of core industries rose to four-month high of 6.3 per cent in October on the back of better output in coal, refinery products and electricity, a positive news. Factory activity also expanded at its fastest pace in nearly two years in November as burgeoning order books led manufacturers to accelerate output, a business survey showed on first day of this month. The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, rose to 53.3 in November from 51.6 in report, the number of Smartphone October, its highest since February 2013, and the thirteenth consecutive subscriptions will rise from 2.7 billion month of expansion in activity. today to 6.1 billion in 2020.Video The Indian economy had grownat a continues to dominate mobile better- than-expected rate of 5.3 per networks: in 4G-dominatednetworks cent in July-September quarter on it currently constitutes 45-55 percent account of improved performance of of mobile traffic, driven largely by mining, power and certain services increased usage of video streaming sectors. The gross domestic growth in and improvements in the mobile video the second quarter was better than 5.2 experience. Video is increasingly per cent of the same period last fiscal appearing as part of other online but was slower than 5.7 per cent rate applications such as news and adverts, achieved in April-June quarter of and on social media platforms. At the current fiscal. same time, growth in video streaming There were expectations that is being driven by access to over-the- September quarter growth would fall top (OTT) services and content, such to 5-5.1 per cent range. The economic growth in first half (April-September) as those provided by YouTube. of this fiscal was 5.5 per cent as Devices used to watch video are also evolving. Many have larger screens, compared to 4.9 per cent in the same enabling higher picture quality for period in 2013-14. A Reuters poll had expected manufacturing activity to streamed video, which results in video lose some steam and predicted the being consumed on all types of devices and in higher quantities, both at home and on the move.

In future, mobile video traffic will increase tenfold by 2020, ultimately constituting around 55 percent of all mobile data traffic in 2020.5G is expected to be commercially deployed in 2020, and the technology is predicted to have a faster uptake than 4G LTE, just as 4G had a faster uptake than 3G. The difference here is that, in addition to new radio technologies, 5G will also encompass evolved versions of existing radio M u m b a i : S o f t w a r e s e r v i c e s access (such as 3G and 4G), cloud, company Tech Mahindra Ltd said it and core technologies to cater for the would buy Virginia-based network thousands of new ways that mobile services operator Lightbridge technology will be used. 5G growth Communications Corp for $240 will be driven to a large extent by new million to boost its presence in the use cases, especially in machine-type United States. The acquisition, expected to close by the fourth communications.

index would fall to 51.2.The eight core industries -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- had shrunk by 0.1 per cent in October last year. The growth rate was 1.9 per cent in September this year.

The core sector contributes 38 per cent in the overall industrial production, a parameter that RBI takes into account while framing its m o n e t a r y p o l i c y .

The industry has been demanding a rate cut to push the economic growth, which has slowed to 5.3 per cent in September quarter from 5.7 per cent in the three months to June 2014.Production in coal, refinery products and electricity registered a growth of 16.2 per cent, 4.2 per cent and 13.2 per cent, respectively in October, as per the data released by the Commerce and Industry Ministry.

Growth in coal and refinery products had declined by 3.5 per cent and 5 per cent, respectively in October 2013 while growth in power generation was only 1.3 per cent. Expansion in crude oil and steel production was 1 per cent and 2.3 per cent respectively in October.

The growth in the two sectors was slower than the previous month.

During April-October, the eight sectors grew by 4.3 per cent as against 4.2 per cent in the same period last year.

New Delhi: Indian factory activity expanded at its fastest pace in nearly two years in November as burgeoning order books led manufacturers to accelerate output, a business survey showed here.

The HSBC Manufacturing Purchasing Managers' Index (PMI), compiled by Markit, rose to 53.3 in November from 51.6 in October, its highest since February 2013, and the thirteenth consecutive month of expansion in activity. An industrial poll had expected manufacturing activity to lose some steam and predicted the index would fall to 51.2New orders were supported by strong domestic demand for consumer goods while foreign orders remained robust. The sub-index soared to a 21-month high of 56.2 from October's 53.0.The expansion in output encouraged manufacturers to add more jobs. The survey also showed companies passed on additional input costs to consumers at a faster pace, which could revive inflationary pressures after several months of slowing."The pick-up in output prices could partly be signaling some revival in pricing power among businesses," said Pranjul Bhansari, chief India e c o n o m i s t a t H S B C .

Economic growth slowed to 5.3 per cent in the three months to September, from 5.7 per cent in the previous quarter, but the Reserve Bank of India is expected to stand pat on interest rates when it meets on Tuesday despite pressure from the government to lower borrowing costs. The RBI's key lending rate is expected to remain unchanged at 8.0 percent until at least April

quarter, will add 20-30 new clients to Tech Mahindra, Chief Executive Officer C.P. Guaraní said on a call. He also said all of Lightbridge's 5,700 e m p l o y e e s w o u l d j o i n Te c h Mahindra, taking the company's total headcount to about 100,000. "We expect network services to be a major

growth engine for our organization," Executive Vice Chairman Vineet Nayyar said in a statement. As of now, the telecommunications business accounts for around 45 per cent of the company's revenue.

Tech Mahindra did not say how much its revenue will be boosted by the deal.

Choose yopur customer choose your future - Seth Godin

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hen you meet her, you couldn’t imagine that she is the driving force of “D’Force” one of the most successful event organizations of Central India. Usually such organizations are men dominant and women are rarely seen to manage such organizations with phenomenal success. But Sonal Jetha breaks this rule by running D’Force successfully.

Destiny behind D’Force Born and brought at Nagpur Sonal very keen to do something new in the field of advertising and to fulfill her dream she completed her education in advertising and mass communication.

Destiny was also very generous to her and it provide a lifetime opportunity to Sonal by knotting her nuptial knot with Deepak Jetha who just started his career in the field of Advertising at a small level at Indore which is also known as cultural and business capital of Madhya Pradesh .

Initially she was associated her husband to run Deepak advertising agency founded by her husband and looked after back office and accounts related work. When Deepak

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rom just restaurant discovery and menus, Zomato has now become a vast global community driven by social interactions. This is an exciting point in our journey, as we accelerate our way across the globe, and build a product that will continue to redefine the way people dine. This online restaurant search and discovery service from India that has gone on to achieve global success recently announced that it has closed a fresh round of funding of USD 60 million at a post-money valuation of USD ~660 million.These funds will be used to accelerate Zomato's global expansion and new product development. This round of funding is being led jointly

by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital. This takes Zomato's total funding to over USD 113 million. Zomato has earlier raised USD 53 million from Info Edge (India) Limited and Sequoia Capital over multiple rounds of funding.

Co-founded by Deepinder Goyal and Pankaj Chaddah bac in 2008 as FoodieBay, the company rebranded to Zomato and has come a long way now.

At this point, Zomato provides up-todate detailed information, menus and photos for over 300,000 restaurants across the 18 countries. Zomato has already acquired companies in New Zealand, Czech Republic, Slovakia and Poland to increase its presence quickly. The company takes a contentfocused approach to restaurant search, believing that menus, pictures and maps are as important as reviews when it comes to a customer deciding where to eat. Apart from the site,

advertising agency grows tremendously and clients ask them to arrange corporate events to promote their products, she decided to establish an event organizing body.

It was year of 2004 and Destiny once again holds her hand and took her to Famous Kumbh mela at holy city Ujjain where they have organized a cultural event in association with Naidunia.

Success of this Mahakumbh Sanskrtik Mahotsava not only gives her confidence but also shows a way to start her own event organizing company.

With the help of her husband and father in law she laid down foundation stone of D’Force and started corporate events for big companies and organizations of repute. She especially mentioned some events like Credai property fair, hot air balloon ride in Ocean park, premium and ready possession fairs which established D’Force as a reliable and most successful event organiser of central India. When she was asked to define her work and its challenges she

Zomato has big mobile push and for which it has well designed applications. Zomato's mobile focus is also accompanied by the recently launched Zomato for Business application – an app built exclusively to help restaurant owners engage and attract more customers to their business.

Some quick facts about Zomato's scale: • Zomato employs over 900 people across 100+ cities in 18 countries.

• Available on web and mobile, Zomato provides detailed restaurant information such as menus, contact details, pictures, geocoded maps, and user reviews, for ~300,000 restaurants.

• Zomato sees over 30 million visits across its web and mobile platforms every month. More than half of Zomato's traffic is seen on its mobile apps.

• Zomato claims a 300% growth in revenue compared to last year.

• Zomato has acquired 4 companies in the recent past. Over the next year, Zomato plans to expand to 14 more countries across Europe, Southeast Asia, Australia, and the Americas.

• Zomato recently rebranded Sanjeev Bikhchandani, Founder of Info Edge, said, “Our first investment in Zomato was made almost 4 years ago, and the team has shown phenomenal progress since then to build the Zomato that we know and use. The company is growing very fast, and we are proud to back them up to further grow the business – both inside and outside of India.”

told very confidently that it is a field where you have to work round the clock and always keep yourself ready to face any untoward incident. But such incidents not only test your capability but also give you a new way for future.

Secrete of Success For her success she gives entire credits to hard work of her team and her husband Deepak and humbly mentioned special contribution of her father in law who is now 78 year old and working actively. Her husband Deepak Jetha is also very cooperative, even her children are very understanding. That is why after completing her job she has dedicated her entire time to look after her family.

She is hardly seen in any social function or party as her entire world is rounding around only her office and home , and she is very satisfied that she has manage herself well between these two priorities.

Concrete determination She recalls such an event which had to be organized at 9.30 AM at Bhopal. It was a grand organization in which

celebrities of each and every field expected to present and it had to be inaugurated by one of the VVIP of the country.

For this event they installed a huge dome at the venue. Every preparation was done with due care but she never thought that in the month of November –December mother nature can test their patient. In the previous night she was sitting calmly and planning for next day programme suddenly wind storm and heavy rain made unthinkable havoc and roof of dome destroyed completely.

In such situation one can sit by holding head with bare hands and curse the nature. But Sonal calmly affirmed herself that this event must be started at stipulated time and she started preparation for that. She hired more than two dozen tailors of the city and cloth merchants of the city were requested to provide them cloth for roof of dome. Cloth was purchased in the night and herculean work started just before midnight. Ultimately she was succeeding to complete entire work and event was started well in

time. This episode boost her confidence and she learn one thing if you are determined to do something no one can stop you to do so. After that she never looked behind and succeeding and D’Force has earned a repute in the field of event organization.

Message for aspiring women entrepreneurs Sonal already proved that this field is not a legacy of men; women can also organize big events successfully. She is welcoming aspirants young girls and advises them to keep their vision very clear. In her opinion event organizing is a live programme where you will not get second chance to rectify your mistakes.

You have to be very conscious and alert. In this field time management is very crucial. You have to made preparations well in advance and event should be started at stipulate time and also conclude at given time.

Though you are having a good team, but check all the preparations yourself to avoid any mistake because there is no roll back in this field. - Ashok Joshi

Ryan Blair (born July 14, 1977) is an American entrepreneur and author.

He is the co-founder and chief executive officer of ViSalus Sciences, a subsidiary of the publicly traded company Blyth, Inc. In 2011 he wrote a book titled Nothing to Lose, Everything to Gain: How I Went from Gang Member to Multimillionaire Entrepreneur which reached The New York Times Best Seller list in its category.[1][4][5][6][7] Media outlets have characterized Blair's transition from gang member to entrepreneur as an inspirational story.

Ernst & Young named Blair as Entrepreneur of the Year in 2012.

Gang member to entrepreneur Blair was raised in Southern California. As an adolescent, Blair suffered from Attention Deficit Disorder and struggled with his father's violent behavior and addiction to methamphetamines. He

dropped out of high school in the 9th grade, left home, and became a gang member in his home-town of Los Angeles. He lived in a tool shed for a year and was arrested 10 times by the time he was sixteen, facing a four-year jail sentence for his last arrest. When he was 18, Blair's mother began dating a successful real-estate entrepreneur who became Blair's mentor and gave him his first job. At 21, after serving as Logix Development Corp's vice president, he founded his first company.

Best seller writer & editor of Forbes Magzine In 2005 Blair became the CEO of the multi-level marketing company ViSalus Sciences. In 2008, ViSalus was in debt and facing bankruptcy.

That year the company was acquired

by Blyth Inc., with Blair remaining as CEO. Within 16 months the company went from $6 million in debt to $150

million in revenue. As of 2012, ViSalus was valued at $600 million.

Before ViSalus, Blair started six companies, including a computer support firm named 24/7 Tech when he was 19. Blair has written an autobiography, Nothing to Lose, Everything to Gain: How I Went from Gang Member to Multimillionaire Entrepreneur, which was released in 2011. The book was ranked 3rd in The New York Times Best Seller list for August 2011 and was a number one New York Times Hardcover Business Book bestseller in September of that year. Blair is a contributing editor for Forbes Magazine.

Operating since January 2010, Maharajas' Express is the newest luxury train of Indian Railways and easily one of the most expensive in Asia. For eight days, this pan India train takes guests on a ride across the best and the most prominent destinations of the country—the Taj Mahal,the Khajuraho temples, wildlife environs of Ranthambore, Fatehpur Sikri and the holy bathing ghats of Varanasi. The cheapest rate per person per day is a whopping US$ 800 for a deluxe cabin. The next two slabs are US$ 900 and US$ 1,400, and the presidential suite comes for US$ 2,500. This train is solely owned by Indian Railway Catering and Tourism Corporation (IRCTC). The tour is being promoted as 'luxury travel like no other' and not without reason.

Maharajas' Express will have 88 passengers (a normal III AC coach packs in 72) living in suites fit for a prince. All food and drinks are complimentary. The train comprises

24 carriages, which include accommodation, dining, bar, lounge, generator and store cars. Each guest carriage has been designed to recreate the opulence of maharaja-style living.

Elegantly decorated, the interiors of the cabin exude the finesse of exquisite workmanship. Sylvan parquets, intricate carvings and palette of soft hues characterise the interiors of the train. All cabins have individual temperature control, LCD television sets, DVD players, direct dial telephones, internet, even live television and electronic safe-deposit box. Carriages are fitted with

panoramic windows to offer the vista of rolling landscape as train travels through some of the most fascinating landscapes and countryside of India.

The train also has an observation lounge called the 'Rajah Club' with a private bar. Besides these cars, the train also has two elegantly appointed dining cars that offer an array of sumptuous cuisines to guests.

The bar of the train serves an eclectic mix of wines from across the world in a serene and relaxing ambience. A highend boutique in the train houses some perfect memorabilia to cherish this royal sojourn for a lifetime.

Working hard and working smart sometimes can be two different things. - Byran Dorgan

GLAMSCAN

New South Wales. Hughes, 25, died last week after being hit by a ball during a match in Sydney. His death stunned Australia and the funeral was broadcast live to millions of people on national television and on big screens in major cities.Around 5,000 people attended the service in Hughes's home town of Macksville, New South Wales. The service was also shown at the Sydney Cricket Ground, where Hughes suffered the injury during a s t a t e m a t c h o n Tu e s d a y, 2 5 November. He died two days later.

During the 80-minute service, Clarke said: "Phillip's spirit, which is now part of our game forever, will act as a custodian of the sport we all love."We must listen to it. We must cherish it.

We must learn from it. We must dig in and get through to tea. And we must play on.

"So rest in peace my little brother. I will see you out in the middle."

Around 1,000 people attended the funeral at Macksville High School, which Hughes attended, as thousands more watched on screens in the baking heat outside.Joining the parents of Hughes, Greg and Virginia, and his siblings, Jason and Megan, were Clarke and Sean Abbott, the bowler whose delivery caused the

fatal injury to Hughes.Former Australia internationals Shane Warne, Glenn McGrath, Ricky Ponting, Adam Gilchrist, Steve Waugh and Justin Langer were also among the mourners.They were joined by Australian Prime Minister Tony Abbott and cricketing legends from around the world, including former New Zealand all-rounder Sir Richard Hadlee and West Indies batsman Brian Lara.

Cricket Australia chief executive James Sutherland told mourners: "I imagine Phillip has already taken guard up there and is currently flaying his trademark cut shot behind point."Cricket's heart has been pierced with pain, but it will never stop beating. Phillip Hughes... forever unconquered on 63."Jason and Megan Hughes also read letters to their brother."I couldn't have asked for a better little brother," said Jason.

"From a very young age, you were destined to be our rock star."I miss you, I'm so proud of you and thank you again for all the memories. I'll love you now and forever."

Megan added: "I want to thank you for being the most amazing brother I could ask for. You have certainly changed the way I look at and

appreciate life. I will certainly take every opportunity that comes by."

Hughes was in line for a possible recall to the Australia Test side for the forthcoming series against India which was rescheduled following his death. The left-handed batsman, who also played for English counties Hampshire, Middlesex and orcestershire, had already played 26 Tests for his country, after making his Test debut at the age of 20 against South Africa in 2009.The number 63 the runs he had scored when he was fatally injured - has become inextricably linked with Hughes, as has the social media campaign that urged people to remember the batsman by placing cricket bats outside homes, workplaces and at sports grounds.

Macksville, with a population of just 2,500, lies on Australia's east coast in the state of New South Wales.Father Michael Alcock told mourners: "We gather to celebrate his 26 years of life.

That is what we are doing here this

afternoon."To those both near and far whom his life has touched, we pray that today we will feel some consolation as we celebrate his life."Among those to send their condolence messages was West Indies great Sir Viv Richards, who tweeted: "My heart goes out to the family, friends & the people of Macksville honouring their favourite son Phillip today. Viv." The service opened with the song Forever Young and closed with Elton John's Don't Let the Sun Go Down on Me.The local community also took part in a public procession that followed the hearse at the conclusion of the service. Following the ceremony, Prime Minister Abbott wrote on Twitter: "A sad, poignant, beautiful service to celebrate the life of Phillip Hughes today in Macksville," adding the hashtag 'RIP Phillip Hughes'.Former Australia batsman Damien Martyn tweeted: "Such a beautiful service. Forever remembered and never forgotten..."

Mumbai: The Godrej Group, whose brand ambassador was Aamir Khan, is now moving to the next level of its 'master branding' exercise without the celebrity. However the 117-year-old Mumbai-based Group is keeping its annual ad spends intact. Shireesh Joshi, Head – Strategic Marketing, Godrej Group said, “We needed Aamir Khan to get our group campaign.

Our investments are not going up in advertising and are being maintained at last year's levels of Rs. 25 crore.

However we are buying more airtime with our new set of eight commercials.”“Today, we would rather invest behind the digital medium than on events like IPL,” added Joshi. Godrej's groceries venture Nature's Basket and appliances are in the e-retail format through their respective sites; and there are plans for entering the marketplace model through Snapdeal and Flipkart for selling its FMCG products.

“There is big opportunity in e-

commerce and we already have a sales force for it as it reduces the cost of doing business.

In the FMCG business, e-commerce sites are modern trade outlets and we would like to work with all the ecommerce players through a marketplace model and are also working on a payment gateway for the businesses,” said Sunil Kataria, Chief Operating Officer, Sales and Marketing, Godrej Consumer Products.

Godrej's other businesses such as real

estate and security systems are already engaged directly with consumers through their respective ecommerce operations. Currently 25 per cent of Godrej Properties, its real estate business, and 7 per cent of its security business comes from ecommerce operations.

Mumbai: Batsmen Virender Sehwag, 36, and Gautam Gambhir, 32, and swing bowler Zaheer Khan, 36, were also left out, along with spinner Harbhajan Singh, 34.All five played in India's victorious campaign at the 2011 World Cup, where Yuvraj was named Man of the Tournament.Uncapped trio Sanju Samson, 20, Manish Pandey, 25, and Kuldeep Yadav, 19, are all included in the 30-man squad.

Yuvraj recovered from being diagnosed with cancer in 2012 to play in India's campaign at this year's World T20, but he has not featured in recent India squads in the 50-over format.The 2015 World Cup takes place in Australia and New Zealand from 14 February to 29 March.

India Squad: MS Dhoni, Shikhar Dhawan, Rohit Sharma, Ajinkya Rahane, Robin Uthappa, Virat Kohli, Suresh Raina, Ambati Rayudu, Kedar Jadhav, Manoj Ti w a r y, M a n i s h P a n d e y, Wriddhiman Saha, Sanju Samson, R Ashwin, Parvez Rasool, Karn Sharma, Amit Mishra, Ravindra Jadeja, Axar Patel, Ishant Sharma, Bhuvneshwar Kumar, Mohammed Shami, Umesh Yadav, Varun Aaron, Dhawal Kulkarni, Stuart Binny, Mohit Sharma, Ashoke Dinda, Kuldeep Yadav and Murali Vijay.

& jkgqy QMuhl “The best way to predict your future is to create it” - Peter F. Drucker

New Delhi: With only four months left for the financial year to end, the government is rushing to complete at least part of its disinvestment plan for 2014-15. Finance ministry officials are confident that Coal India, ONGC, SAIL, and NHPCwill hit the market by the end of January.

Though a final date for Coal Indiaand ONGChad not been decided — since the department of disinvestment was watching market conditions — one of the two could hit the market within next two weeks, sources told Business Standard. They, however, admitted there was no clarity yet on stake sales in Concor, REC, PFC, HAL and RINL, some of which might be shelved. Based on the share prices of the companies at close on bourses on Tuesday, sale of a 10 per cent stake in Coal India will fetch about Rs 21,968.3 crore, five per cent in ONGC Rs 16,503.5 crore, 11 per cent in NHPC Rs 2,699.4 crore and five per cent in SAILRs 1,739.8 crore. The combined proceeds from these four public-sector behemoths would be around Rs 42,911 crore, compared with the Budget target of raising Rs

New Delhi: The stiff hike in central excise duty on petrol and diesel (nearly 60 per cent in the case of branded petrol and 20 per cent in the case of branded diesel) smacks of the ad hocism that characterises policymaking in petroleum. The move, which is expected to rake in Rs. 4,000 crore, is linked to government fears about overshooting the fiscal deficit target, which crossed the 90 per cent mark four months to go. What better sitting ducks than petrol and diesel? The present tax hike curbs the space for oil marketing companies to reduce prices in line with global trends. By interfering with marketbased price determination, successive governments have gone back on their avowed commitment to oil decontrol.

A road map for a globally aligned price for petro products, broadly laid down by three committees since 2006, involves a reduced reliance by the government on petroleum as a source of revenue. Central and State taxes on petroleum raked in Rs.3 lakh crore in 2013-14. The only saving grace is the application of specific rather than ad valorem duties; the latter would have resulted in windfall gains along with the rise in prices, more than the additional Rs. 60,000 crore that the Centre and States picked up in 201314 over the previous year. It is time to put an end to such fiscal laziness as well as policy surprises; a formulabased change in levies, based on world prices, may work better.

Political opportunism has derailed the reform process in the case of kerosene and LPG. Subsidies on kerosene and

36,925 crore from stake sale in staterun firms during 2014-15.

However, in a written reply in the Rajya Sabha on Tuesday, Minister of State for Finance Jayant Sinha said the expected realisation from ONGC was Rs 11,477 crore, Coal India Rs 15,740 crore and NHPC Rs 1,976 crore.

These lower expectations could be on account of the discounts the government might offer to attract more participation from retail and institutional investors.

Sinha added the government had approved revival of seven sick central PSUs — HMT Machine Tools, Tyre Corporation, Tungabhadra Steel Products, HMT Bearings, Richardson & Cruddas, Central Inland Water Transport Corp and Hooghly Docks & Port Engineers Ltd — through the disinvestment or joint venture route.

Additionally, late on Tuesday evening, Finance Minister Arun Jaitley met Finance Secretary Rajiv Mehrishi, and Disinvestment Secretary Aradhana Johri, to take stock of the disinvestment plan for the year. Some sources who were part of the deliberations said the sale of stake

LPG were expected to be phased out in three to five years after 2002, but we are nowhere near that. Falling global prices have led the Centre to announce a reduction of about Rs. 113 in the price of an LPG cylinder, while failing to pare the full subsidy amount of about Rs. 400 a cylinder. The reasons are not far to seek: LPG is largely used by the well-heeled, and with elections in Delhi around the corner, this constituency cannot be displeased. Under-recoveries on diesel, at about Rs. 62,000 crore in 2013-14, have mercifully disappeared. This has happened on account of falling oil prices and calibrated increases in diesel prices since January 2013 to negate years of populism. Petrol prices were freed in June 2010. But the opportunity to use subdued world prices to cut LPG subsidies, at about Rs. 46,000 crore last year, should not be missed.

Loading more taxes and duties on petrol rather than diesel is not a good idea. This has encouraged private diesel consumption. Cars and SUVs account for 27 per cent of total diesel use. Diesel use for agriculture purposes, in tractors and pumpsets, accounts for another 13 per cent.

While correcting this anomaly, the Centre should encourage a shift to solar pumps and electric cars, in keeping with developments the world over. Market determined pricing and the pursuit of energy efficient practices are two sides of the same coin. If only policymakers could see things that way.

in Coal India could take place in tranches, as the company's shares were undervalued at present.

The proceeds from the big four stake sales could have been Rs 46,302 crore, if the sales had taken place in mid-July. While a bull run inspired by the Narendra Modi government continues in the broader market, delays in PSU stake sales have given investors time to offload these shares which has eroded their valuations.

“The government plans to sell stakes in Coal India, ONGC, SAIL, and NHPC by January-end,” said a senior finance ministry official who did not wish to be named. The person added road shows for Coal India and ONGC were near completion, and one of the two could hit the market by the middle of December. A decision on the remaining smaller stake sales would be taken after that. “ PFCand RECdisinvestments are yet to receive clearance from the Cabinet.

As for the initial public offerings, HAL seems unlikely this year, while the draft red-herring prospectus for RINL has been sent to the market regulator,” the official said. The

person added the government might not have enough time to complete the regulatory work to take RINL public this financial year.

The combined proceeds from sale of five per cent each in Concor, PFC, REC and MOIL could be about Rs 5,210 crore at current stock prices, while the government expects about Rs 5,500 crore from 10 per cent stake sales in HAL and RINL. This might not seem much but Finance Minister Arun Jaitley has set a tight fiscal deficit target of 4.1 per cent of gross domestic product and every rupee counts. The tax authorities have to raise Rs 6.54 lakh crore in the second half of 2014-15 — 28 per cent more than what they did in the period from October 2013 to March 2014 — to meet the full-year target of Rs 9.77 lakh crore. In spite of an expected reduction in fuel subsidies due to low international crude oil prices, Budget makers expect a tax revenue shortfall again in 2014-15, and as reported earlier, might be forced to cut spending by Rs 35,000-40,000 crore if revenues do not materialise from disinvestment, spectrum sales and

special PSU dividends. Apart from stake sale in PSUs, the Centre also plans to raise at least Rs 15,000 crore from sale of its residual stake in Hindustan Zinc Ltd (HZL) and Balco, and Rs 6,500 crore from part-sale of the stake it holds in Axis Bank, ITC, and Larsen and Toubro, through Specified Undertaking of UTI (Suuti).

Sources told Business Standard that the valuer, RBSA Valuation Advisors, had sought another month to arrive at a value for the Centre's stake in HZL and Balco. They said merchant bankers could be appointed to take stake sale ahead only after the valuation exercise was complete.

Given that the entire process — from appointing merchant bankers to road shows and the issue hitting the market — could take at least four months, officials conceded HZL-Balco residual stake sale might not happen this financial year. “There also is a petition in the Supreme Court that will weigh on sale of any residual stake,” a second official told Business Standard, referring to the public interest suit filed earlier this year challenging the stake sale.

Information technology offers powerful tools to help you gain and make the best use of knowledge. Some of the systems can be complex to set up and time-consuming to maintain. You need to choose systems that fit with your business and that will improve it without becoming a burden. You may find it useful to consult an IT specialist.

Types of information technology · Databases organise information so it can be easily accessed, managed and updated. For instance, you might have a database of customers containing their contact information, their orders and preferences. · A data warehouse is a central storage area you might use if you have a variety of business systems, or a range of

information in different digital formats.

Many businesses now use digital asset management to store, manage and retrieve information, and this can be particularly helpful if you sell online. It is, however, a complex area technically and in task management, and you may wish to seek specialist advice from an IT consultant. · Data mining is a process in which all the data you collect is sorted to determine patterns. For instance, it can tell you which products are most popular and whether one type of customer is likely to buy a particular item. · Reporting and querying tools let you create reports interpreting data in a particular way. How many of your sales

have been handled by one particular employee, for instance? · Business intelligence portals are websites that bring together all sorts of potentially useful information, such as legal issues or details of new research. · The Internet and search engines these can be a powerful source of knowledge, although be certain to check the credibility of your information source. Internet newsgroups can be specific sources of business information, but check the authors' other postings before deciding how to view their opinions and claimed facts. · An intranet is a secure internal network for the sole use of your business.

New Delhi: LIC has launched a single premium money-back policy, Jeevan Shagun. It is a traditional savings plan that brings a share of profits of the company to policyholders along with a life insurance cover. Unlike usual single premium policies, this plan offers a higher risk cover, with the sum assured being 10 times the premium. The policyholder is free to decide on the amount he needs at maturity (minimum at Rs. 60,000) with no upper limit. The premium is decided based on the sum needed at maturity and the policyholder's age.

The policy period is 12 years.

Individuals of age up to 45 years can invest in the policy. Launched on September 1, this plan is open for investment for a period of 90 days.

On death of the insured within the first five years, the nominee will get only the basic sum assured (i.e. 10 times the premium paid). But if the death occurs after the completion of five years, the nominee will get the sum assured plus loyalty additions, if any.

If the policyholder survives the period, he will receive the promised maturity amount. At the end of the 10th year, he will get 15 per cent of the maturity amount.

Then, at the end of the 11th year, he will get 20 per cent of the maturity amount. Finally, at the end of the 12th year, as the policy draws to a close, he will get the balance 65 per cent of the

maturity sum assured with loyalty additions if any.

If death occurs after one installment of the maturity amount is taken by the policyholder, the nominee will still be eligible to get the basic sum assured plus loyalty additions.

The policy allows mid-way surrender.

However, if you surrender the policy

per Rs.1, 000 of the sum he wants to receive on maturity. Say he wants to receive a sum of Rs.1 lakh on maturity; he will have to pay a premium of Rs. 52,125. With this, he will get a cover for Rs.5, 21,250. So on a death claim, the nominee will get Rs.5, 21,250. When the maturity proceeds one asks for totals Rs1 lakh, he will getRs.15, 000 at the end of the 10th year, Rs.20,000 at the end of the 11th year and the balance R s.65,000 at the end of the 12th year.

This works out to a return of 6.14 per cent. However, if loyalty additions are included, the returns may work to about 7-7.5 per cent. This is based on the assumption that LIC will declare a loyalty addition of Rs.110 per Rs.1, 000 of sum assured, which is the amount LIC, declared for one of its money-back plans last year, according to agents. The return of 7-7.5 per cent is not bad given that maturity proceeds from Jeevan Shagun are taxfree (as the policyholder gets a risk cover for 10 times the premium in the plan). Bank fixed deposits now give a return of about 8.75-9 per cent on a ten-year investment, but the post-tax returns could be lower as interest is fully taxable at your slab rate.

However, if saving for a goal is your purpose, it is best not to combine insurance and investment. You can invest in a combination of equity and debt instruments for the same.

after the first premium itself, you will get back only 75 per cent of the premium paid. On surrenders after the first year, you will get 90 per cent of the premium paid. The plan also offers a loan facility from the end of the first year. A person of 30 years of age will have to pay a premium of Rs.521.25

People know you for what you’ve done not for what you plan to do

uccessful investing involves making choices that meet your unique needs today and your financial goals for the future. Your personal circumstances will affect your decisions every step of the way.

Whether you are saving for a home, retirement, or your child's education, you want a plan that will help your money grow. Here are six investing principles to follow: 1. Know yourself We all have different investing goals and different time frames for achieving them. Some are short-term, like saving for a vacation or a car, while others are long-term, like retirement. In addition, every investor has a different comfort level with investment risk.

While risk sounds like something to avoid, there can be an upside - greater risk may offer the opportunity for greater rewards over the long term.

Finding a balance between risk and reward that you're comfortable with and that's appropriate for your investment time frame - is an important first step to successful investing.

To better understand yourself as an investor, consider your: risk tolerance, investment knowledge, investment objectives, gross annual income, approximate net worth and investment time horizons.

2. Get an early start Taking advantage of the effects of "compounding" is one of the best ways to make your money work for you. Compounding is money multiplying itself by earning a return on the return.

What is "asset allocation"?

The mix of investments within your portfolio is also known as your portfolio's asset allocation. A diversified portfolio typically holds a combination of savings, income and growth investments

Jaipur: The reformist government that many Indians and free-market flag-bearers had hoped would emerge after this year's election isn't in New Delhi - at least not yet. It's a dusty day's drive to the southwest.

Rajasthan, derided as a povertystricken laggard, has taken the lead on structural reforms that, their backers argue, could also help Asia's No.3 economy as a whole to attract business and employ a fast-growing workforce.

Chief Minister Vasundhara Raje has shaken up labour, land and welfare policies with such verve Prime Minister Narendra Modi, a party ally, has even poached her chief of staff and put him in charge of the central finance ministry.

In her most controversial achievement since winning a second term a year ago Raje, 61, enacted reforms to a law hated by industry that made it almost impossible to lay off workers.

Raje, descended from royalty that once ruled the "Land of Kings", told Reuters her goal is to "create a habitat for employment" - not to destroy jobs."We have no intention of hurting anyone," she said in capital Jaipur.

"We have to open up every single employment opportunity."

Rajasthan and the rest of India face other obstacles besides a freer labour market: woeful infrastructure, red tape and corruption. India slipped to 142nd in the World Bank's latest 'ease

of doing business' rankings.

Daikin, a Japanese maker of air conditioners that is the largest outside investor in Rajasthan, welcomes Raje's resolve on reforms. But it has yet to decide whether to build a second plant in the state."If India has to become a global force in manufacturing, all these issues need to be looked into," said Kanwal Jeet Jawa, Managing Director at Daikin India.

Raje describes her approach as "a lot of common sense with some economics". She also frankly admits she is starting from scratch.

Rajasthan, a byword for rural poverty, has barely attracted any foreign investment since her first five-year term ended in 2008.

In constitutional terms, though, Raje could act as a catalyst for far-reaching change. By activating a rarely-used clause that allows state law to supersede central law as long as it wins presidential approval, Raje has broken the impasse in two crucial areas where New Delhi shares responsibility with India's states labour and land law.

In July, she pushed amendments to the Industrial Disputes Act of 1947 through the state legislature allowing firms in Rajasthan to lay off up to 300 workers without government permission, up from 100 before.

President Pranab Mukherjee has just given his assent. Raje has wielded her four-fifths majority to tackle another chronic obstacle to investment in India - land acquisition.

A bill to expedite land purchases for public purposes was passed in September and awaits the president's signature.

The bills are key planks of a raft of initiatives, ranging from skills development to streamlining welfare, that aim to triple economic growth to 12 percent and create 1.5 million jobs in Rajasthan. India's largest state by area is the size of Germany and its 69 million populations is as big as Thailand's.

S

3. Invest regularly It's generally much easier to come up with a smaller amount to invest on a monthly or weekly basis than to make a large, lump-sum contribution. A regular investment plan allows you to choose when and how often you make contributions - ensuring you make investing a priority.

With a Regular Investment Plan, money will be automatically withdrawn from your account and invested in a range of CIBC investment solutions. You can invest with pre-authorized contributions of as little as Rs.2500 a month.

Investing smaller amounts in mutual funds over time can mean lower average costs than if you make infrequent purchases.For example, your money will buy more units of a mutual fund when prices are low; and fewer units when prices are high.

Provided the fund gains in value over the long term, you'll profit from your purchases during short-term price declines.

4. Build a diversified portfolio Spreading your assets across a wide range of investments is an effective

way to reduce risk and increase potential returns over the long term.

Holding a mixture of different types of investments will help cushion your portfolio from downturns, as the value of some investments may go up while the value of others may go down.

5. Monitor your portfolio You should examine your investment portfolio with a CIBC advisor, or on your own, at least once a year to ensure that it continues to meet your needs. Market conditions, life events (marriage, children and retirement) and changing goals are cues to review your portfolio.

6. Align your investments with your time horizons The type of investments you choose will depend on whether you're saving for long-term or short-term goals. For your long-term goals, you may want to consider long-term, growthoriented investments. Your short-term goals call for investments that are more conservative, and more accessible. For example, if you're investing to save for a down payment on a home, you'll want quick and easy access to your funds.

N

Two per cent of the world's 211,275 wealthiest people have a second house in India, while around 30 per cent have at least one residence outside of their primary country of business.

India is 10th on the list of preferred destinations for a second residence the US, UK and Switzerlandare the top three.

"These countries are considered safe havens for the world's wealthiest.

Nonetheless, the importance of some of the world's key markets outside of these regions - such as China, Hong Kong, Singapore and India - shows that the shift of wealth creation towards Asia is not only on its way but is attracting more foreigners, who hope to benefit from the strong growth potential the region continues to offer," the report said.

It added there were about 5,000 nonresident Indians on the global list, the majority of them settled in Europe or North America. Indian-born ultrarich individualsare one of the two biggest segments - the other being Chinese born - of the world's expatriate population in this category.

While government regulations and lack of transparency in some of the region's largest economies have acted as a barrier to growth, the report noted promising policy and political changes, such as the election of Narendra Modias prime minister in India, had resulted in growing confidence for the region's prospects.

ow we can proud on our wealth and can say that Indian are also rich person of the world. With $1.01 trillion in assets, 8,595 Indianstogether have taken the country to the sixth position in a global ranking of wealthy people.

Indiahas the third-largest population of ultra- richindividuals in Asia, after J a p a n a n d C h i n a .

The Wealth-X and UBS World Ultra Wealth Report 2014, published earlier this week, showed that the number of ultra high-net worth individuals those with net asset value of more than $30 million - increased over the previous year at 9.5 per cent in India, far ahead of the global rate of six per cent. Also, India has more ultra-rich people than Switzerland, Canada, France, Hong Kong, Singaporeand Saudi Arabia. Countries ahead of India are the US, Germany, the UK, J a p a n a n d C h i n a .

The total wealth of India's ultra-rich grew 8.3 per cent over the previous year, faster than the global rate of seven per cent. The assets of the same set of people in the countries that rank above India grew at a much slower rate, except in Germany, where assets grew 10 per cent.

On average, the very rich own 2.7 properties and hold over eight per cent of their assets in real estate. Women tend to own more, with an average real estate holding worth $20 million, compared with $14 million for men.

If you believe business is built on relationships,make building them your business�

There is nothing like making money in the end of the year and Christmas provides the perfect opportunity for this. Various activities take place during Christmas, thereby, providing the right chance to increase savings.

Starting with a business during Christmas can prove to be very fruitful as there are different small business ideas for Christmas from which choices can be made .Some of the profitable business ideas for Christmas include the following: Craft Decorations: Christmas is the time for decorations, from Christmas trees to lights, balls and more become the most saleable items during Christmas. Crafting is a hobby for many people around the world, and it is during Christmas, the hobby can be transformed into a full-time business. The various craft items can be sold during the time of Christmas, which guarantee high profits.

Food Items Food forms another important salable item during Christmas.

There are many who do not prefer to engage in cooking during the time of Christmas, consequently, making food item related business to earn huge profits. Some of the most demanding food items during Christmas are cakes, chocolates, alcoholic beverages Gift Wrapping: Christmas is the time of presents and wrapping presents is mostly detested by many. This makes the business of wrapping presents during Christmas very rewarding.

Wrapping presents does not include much time or effort; payment can be made either through per item or through per hour Photography: For all those photographers waiting to capture some classic moments, can take up the business of photography during Christmas.

Photography is one of the most popular things of Christmas. Those who have an eye for photography can engage in clicking the shutter.

Event management From offices to parties, schools, houses, streets, all look alike during Christmas. During Christmas event planners play an important part as they take care of various services like stage organizing, dancing, event hosting, coverage through videos and many more. In this way, event management during Christmas has become one of the most important business ideas for Christmas like beers and wines, brownies and more, the list is endless. People are always ready to spend for these. However, before venturing for this lucrative business idea for Christmas, approval from the health department is a must

New Delhi: State-owned banks are seeking a fee for crediting the cooking gas subsidyin the accounts of beneficiaries as the government gears up for a nationwide launch of cash transfers. he banks argue since the scale of credits is unforeseen, they will have to bear an unknown cost of servicing these accounts. Some banks are seeking a two per cent commission on credit for the Rs 568 subsidy a cylinder.

The finance ministry, however, says once the cooking gas subsidy starts flowing into accounts, banks will have enough floating capital to meet their costs.

"Discussions are on between the department of expenditure and the department of financial services," said a senior official with knowledge of the talks between the two sections in the finance ministry.

"The department of financial services says banks are incurring a cost, while the department of expenditure is refuting the argument. The advance credit into the accounts is huge and should be enough to cover costs," he added. The government launched a modified cash transfer scheme for 23.3 million households in 54 districts of 11 states on November 15 to curb diversion of subsidised cooking gas.

Bank accounts linked to Aadhaar, a biometric identification system, received over Rs 10 crore in 700,000 transactions in the first four days.

A senior finance ministry official said the expenditure department would not allocate extra money in the current financial year unless the government

raised supplementary demands for grants in the winter session of Parliament. The official said government departments had been told to save money from original Budget allocations in order to meet the fiscal deficit target. A committee headed by Nandan Nilekani, former head of the Aadhaar programme, had recommended a fee of 3.14 per cent to banking correspondents for each cash transfer. The finance ministry had, after much dialogue, agreed to pay a commission to bank agents providing last-mile

connectivity in remote areas, although the fee was lower than Nilekani's recommendation.

Public sector banks, especially the large ones, want a two per cent commission on each credit. They argue transactions by banking correspondents are difficult to track and the commission should be paid to them. "The government expects to save Rs 20,000 crore of the gas subsidy through this project. Can it not give Rs 1,000 crore to banks?" asked an executive with a large public sector bank. He pointed out banks were spending money on opening new

accounts and servicing existing ones.

Another government official said: "The committee made its recommendations based on transactions, but if a commission is paid on each credit, there will be little incentive for banks to make sure beneficiaries have access to banking."

The issue is gridlocked; the last discussions took place a week ago.

An earlier cash transfer scheme by the United Progressive Alliance government had to be stopped after the Supreme Court ruled Aadhaar could not be made a condition for welfare payments. In its new avatar, consumers who do not have Aadhaar numbers will receive cash in their bank accounts, but they must shift to the Aadhaar-based system when they get their identity numbers.

"We have started receiving requests from consumers for linking Aadhaar numbers to bank accounts. The bank has already linked 83 per cent of accounts," said a senior executive with Karnataka Bank, which is linking accounts in Mysore, one of the 54 districts where the cash transfer scheme is rolling.

He said the bank was rushing to clear the backlog since April, when no new requests came in for linking bank accounts.

To ensure a consumer has cash to pay for the first cylinder at the market price, a permanent advance will be paid as soon as he books gas after joining the scheme. Also consumers have three months to switch over to the Aadhaar system, during which they will receive gas cylinders at subsidised prices.

Beijing : An Indian Railways team is in Chinato chalk out plans for conducting feasibility study to build the 1,754 km-long Delhi-Chennai high-speedtrain corridor, world's second largest bullet trainline.

The high-level team of officials from Rail Vikas Nigam Limited led by Satish Agnihotri arrived here and is in talks with China's High Speed Rail Corp to build the Delhi- Chennai corridor for which the communist giant has agreed to conduct the study free of cost during President Xi Jinping's visit to Indiain September. officials here told mddia .

The proposed corridor could be the second largest in the world after China's 2,298 km-long BeijingGuangzhouline which was launched last year. Running at a speed of 300 km per hour, it covers the distance in about eight hours. The Delhi-Chennai high speed line could cost around $32.6 billion, state-run China Daily quoted Chinese officials as saying.

India is currently considering two corridors for high speed trains. While Japan is conducting feasibility study for the Bullet train project in Mumbai-

Kolkata: The Centre will finalise the guidelines of smart cities over the next two-three months. Typically, a smart city refers to one which uses digital technologies to reduce cost and resource consumptions. Often terms like 'intelligent city' or 'digital city' are used. According to Shankar A g g a r w a l , S e c r e t a r y, U r b a n Development Ministry, the guidelines will include determining the commercial aspects of the project that will make it attractive for private investors. “In another two-three months' time, the guidelines of the smart cities will be ready. We need to ensure that the projects are viable for the private investors too,” he told newspersons on the sidelines of a seminar organised by the MCC Chamber of Commerce and Industry here. The initial idea, Aggarwal said, was to include not just cities, but certain townships. As a first, the state

and Union Territory capitals might be upgraded as smart cities. Plans are also afoot to have a tripartite agreement between the State governments, Centre and the private developers.

This apart, State governments need to ensure that faster clearances are obtained for a private investor. If necessary, the State governments and private investors will be given equity stakes to make the smart city project more viable. The Modi Government has proposed to build 100 smart cities that will be identified by the Centre at the suggestion of the State governments.

Plans are also afoot to provide financial assistance to the States in setting up smart cities. According to Agrawal, the Centre will also formalise a new set of guidelines for urban renewal or development over the next two-three months.

Mumbai: India's largest steelmaker Steel Authority of India Ltd (SAIL) plans to invest Rs. 1.50 lakh crore by 2025-26 to increase the production capacity at its five integrated plants from 23.5 million tonnes per annum (mtpa) to 50 mtpa. The Maharatna company, with a turnover of nearly Rs. 50,000 crore, is awaiting the Government's decision regarding its proposal to set up a body, on the lines of Power Finance Corporation (PFC), to help finance SAIL's targets, Chandra Shekhar Verma, Chairman and Managing Director, told media on the sidelines of Global Steel 2014, the Ninth International Conference on Steel and Steel-Making Raw Materials, that concluded here recently. On average, India will have to invest $1 billion to increase steel production capacity by 1 mtpa, 60 per cent of which would go into establishing plant machinery. With India hoping to treble steel production to 300 mt in the next 12 years, the country would need investments to the tune of $200 billion (Rs. 12.40 lakh crore). India currently produces 83 mt of steel. Verma said to finance the increase in production, SAIL had proposed to the Ministry of Steel to set

up a PFC-type entity to fund steel projects. In order to treble production capacity, India will have to import equipment worth $120 billion but this dependence can be reduced if the country sets up manufacturing units for this equipment.“We would also need lots of metallurgical engineers to achieve our targets,” Verma said. He added that India needs to invest Rs. 160 crore on research and development in steel sector under the private-public partnership (PPP) mode and stressed that the country could benefit from the emerging area of synthetic coke to reduce dependence on imports. By 2025-26, India will have to import about 160 mtpa of coke to support its steel industry. He said that that many Indian companies are forced to import iron ore, and scarce coking coal is being diverted to thermal power plants to produce electricity instead of using it in steel production. The requirement of massive investments could be materialised with the coming together of financial institutions and banks to pool in their resources through a PFClike entity. The power sector had got a fillip with the setting up of PFC, a dedicated financial entity.

New Delhi: In a statement to the Rajya Sabha, Health Minister J P Nadda said his ministry had accepted the recommendations of an expert panel. The recommendations include increasing the minimum age to purchase tobacco products, bigger pictorial warnings on product labels and higher fines.

Industry players said the revenues of tobacco companies could take a hit due to the move to ban the sale of loose cigarette sticks, which account

for about 70 per cent of the sales.

“We expect the ban, if implemented, to be a near-term overhang on cigarette stocks...also, as the Union Budget is only three months away and stricter packaging norms will come into play from 2015-16, the waters are further muddied,” said Abneesh Roy, associate director (institutional equities-research), Edelweiss Securities.

Analysts said the actual impact would be clear once the details of the

guidelines and implementation were in place. The draft note by the ministry would require Cabinet approval before implementation. The cigarette sector contributes about Rs 30,000 crore a year in taxes to the government exchequer. Industry players said cigarette companies might come up with innovative ideas to mitigate the impact of the new norms. “If implemented seriously, cigarette players are likely to launch small packs to circumvent the ban,

potentially leading to 'sachetisation' of cigarettes,” said Roy. “The proposed ban on the sale of loose cigaretteswill have a short-term negative impact on cigarette volumes.

We believe implementation will be difficult in India, because seven-eight million outlets will have to be regulated very frequently and the country does not have the infrastructure to do that,” said Amar Ambani, head of research, IIFL.

Ahemdabad corridor, China will do the same for the Delhi-Chennai route which expected to begin by early next year.

Under the agreement, China has agreed to provide training in heavy haul for 100 Indian Railways officials, redevelopment of existing railway stations and establishment and establishment of railway university in India. The training was expected to begin soon.

The two nations have also agreed to cooperate to identify the technical inputs required to increase speed on the existing railway line from Chennai to Mysore via Bangalore.

The Delhi-Chennai route is part of the proposed Diamond Quadrilateral project, which aims to build a highspeed train network between different cities, including Delhi-Mumbai, Mumbai-Chennai, Chennai-Kolkata, Kolkata-Delhi and Mumbai-Kolkata.

Currently, Rajdhani Express train covers the distance between the two cities in 28 hours and as per the plan, the proposed bullet train at 300 km per hour speed will reduce the travelling time to six hours.

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