Review of the Economy 2010-11 – H I G H L I G H T S

  • Economy expected to grow at 8.6 per cent in 2010-11 and 9.0 % in 2011-12

 

o   Agriculture expected to grow at 5.4% in 2010-11 and 3.0% in 2011-12.

 

o   Industry expected to grow at 8.1% in 2010-11 and 9.2% in 2011-12.

 

o   Services expected to grow at 9.6% in 2010-11 and 10.3% in 2011-12.

 

  • Slow recovery in global economic and financial situation.

 

  • Rising domestic savings and investment chief engines of growth

 

o   Investment rate expected to be 37.0% in 2010-11 and 37.5% in 2011-12.

 

o   Domestic savings rate expected to be over 34% in 2010-11 and 34.7% in 2011-12.

 

  • Current Account deficit estimated at 3.0% of GDP in 2010-11 and 2.8% of GDP in 2011-12

 

o   Merchandise trade deficit projected to be $ 132.0 billion or 7.7% of the GDP in 2010-11 and $151.5 billion or 7.7% of GDP in 2011-12.

 

o   Invisibles trade surplus projected to be $ 81.3 billion or 4.8% of the GDP in 2010-11 and $95.7 billion or 4.8% in 2011-12.

 

  • Capital Flows can be readily absorbed by financing needs of the high growth of the Indian Economy.

 

o    Against the level of $47.8 billion in 2009-10, the capital inflows projected to be $ 64.6 billion for 2010-11 and $76.0 billion for 2011-12.

 

o   Against accretion to reserves of $13.4 billion in 2009-10, projected to be $12.1 billion in 2010-11 and $20.2 billion in 2011-12.

 

  • Inflation rate projected at 7.0 % by March 2011

 

o   The declining trend in food prices particularly that of the vegetables will result in lower food inflation.

 

o   Manufactured goods inflation has remained low. Considerable care from the policy side has however to be taken to ensure that the manufactured goods inflation remains below 5 per cent in 2011/12.

 

 

  • Monetary Policy to complete the process of exit and operate with bias toward tightening.

 

o   Liquidity conditions are taut enough for monetary policy signals to be appropriately transmitted to the financial sector.

 

o   Monetary and fiscal policies have to be appropriately tight to protect the economy from inflation.

 

o   Monetary policy has an important role to play even in situations where inflation is triggered by supply constraints.

 

  • Current year fiscal adjustment may not be a problem, the challenge is of adhering to the Finance Commission’s targets with credible expenditure management.

                  

o   Total Central revenues registering an increase of 62.9 per cent in (April –Dec) 2010-11 over the corresponding period last year.

 

o   Capital Expenditure registered a sharp increase of 64.6 per cent (April –Dec) in 2010-11.

 

o   Fiscal deficit outcome for 2010-11 could be marginally better than the budget estimates.

 

o   The consolidated fiscal deficit is likely to be 7.5 to 8 per cent of GDP for 2010-11. 

 

o   There is considerable urgency in the implementation of goods and services tax (GST).

 

o   Budgeted level of Fiscal Deficit and Revenue Deficit still beyond comfort zone.

 

 

  • To sustain a growth rate of 9.0 per cent, steps required are:

 

o   Containing inflation by focusing both on monetary and fiscal policies and supply side management.

 

o   The pace of infrastructure creation has to be stepped up with renewed focus on the power sector.

 

o   Continue efforts to contain Current Account Deficit (CAD) at 2-2.5 per cent of GDP and in parallel encourage flow of external investments into the country.

 

o   Greater attention to agriculture including on seed development, management of water and soil fertility and improving delivery system.

 

http://pmindia.nic.in/EAC%20report%20Highlights%202010-11_feb.pdf

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reddy2007.blogspot.com First blog post 19.2.2007

wealth: information is wealth.

First Ever Khadi Stamp on Mahatma Gandhi Released by India Post

India Post on the occassion of INDIPEX 2011 is bringing out a special stamp on Gandhi Ji to commemorate the event. The stamp will be unique as it will be printed on "Khadi", the handspun cotton material that Gandhi Ji held as the symbol of self determination and self reliance.
 
The Presentation Pack
The Khadi Stamp will be available during the exhibition at the venue, as a Presentation Pack which will also include aminiature sheet. The Presentation Pack is priced at Rs. 250 only (US$5 for International Buyers) and a maximum of 10 stamps can be ordered by a single person. Orders for this special stamps can be placed by writing directly to Mr A.S. Kala or pre-ordering them online. Outstation orders will be sent by Speedpost for which necessary charges will apply.
 
The deliveries would start from 12th February 2011. 
 
Collect Your Copy at the Venue!
The Presentation Pack will be available at the venue, but its better to book your copy in advance. The order can be placed online and the Pack collected at the venue by making a direct payment. Simply fill the Pre-Order Form below and choose this as the Mode of Delivery. Carry the copy of the Confirmation Mail that you receive along with the full payment of the amount Rs 250/- only for eachPresentation Pack you order, and collect your Pack.
 
Get it Delivered by Post!
INTERNATIONAL DELIVERY
The Presentation Pack for the overseas buyers is priced at US$5 only. The Pack will be delivered via registered post at an additional fixed cost of US$2 only. The payment of US$7 for each Presentation Pack has to be made by electronic transfer to the India Post (Bank & Remittance Details). Please mail a copy of the payment-confirmation to us at wpe2011@indiapost.gov.in for the records.
 
DELIVERY WITHIN INDIA
The Presentation Pack can be delivered via Speedpost at an additional fixed cost of Rs.25 only. Simply fill the Pre-Order Formbelow and choose this as the Mode of Delivery. Send a copy of the Confirmation Mail that you receive along with a Demand Draft of the amount Rs 275/- for each Presentation Pack you order, made in favour of World Philatelic Exhibition/Indipex-2011 to the following address:
 
Mr. A.S. Kala
INDIPEX 2011 Secretariat
Room 523 B, Dak Bhawan
Sansad Marg, New Delhi-110001
 
 
The President of India Shrimati Pratibha Devisingh Patil inaugurated the World Philatelic Exhibition – INDIPEX 2011 by issuing a special limited edition “Khadi” Stamp here today. In her inaugural address, the President said that Stamps tell the story of their own evolution, as well as of important occurrences and personalities in the lives of nations, since they are a significant mode of commemorating, celebrating and promoting national heritage and events. Underlining the importance and role of stamps, the President said, “Stamps are usually printed on paper. For the first time in history, a special Khadi Stamp is being issued which is on Mahatma Gandhi, the Apostle of non-Violence.” She further said that letters by post have seen a decline. We should not lose the art of letter writing. While technological advancements may have provided many faster modes of communication, the intimacy of the letter and the legend of the stamp cannot be matched.
 
Earlier speaking on the occasion the Union Minister for communications and Information Technology Shri Kapil Sibal said that India Post is also celebrating the centenary of the World’s official airmail flight. On 18th February 1911, a French Pilot, Henri Pequet flew a small Sommer biplane carrying 6,500 letters from Allahabad to Naini. The Journey was brief and lasted just thirteen minutes. To commemorate the occasion a set of stamps on aero philately is being issued at Allahabad today. The historic flight is also being re-enacted, courtesy Indian Air Force, he added. Referring to “My Stamp”, the exciting offer at INDIPEX 2011, he said this customized and personalized stamp is being introduced by India Post for the first time. One can have photographs of oneself on a stamp sheet which can be used to send out greetings or preserved as a unique philatelic memento. 
 
The Minister said that to commemorate INDIPEX 2011,India Post has brought out two sets of stamps in 2010,one on Heritage post Offices and one on old pre independence era stamps of India States. A set of six stamps on six legendry actresses of Indian Cinema will also be issued during this exhibition. 
 
Secretary Department of Post Smt. Radhika Doraiswamy and other senior officers of the Department were also present. 
 
Later Minister of State for C&IT Shri Gurudas Kamat presented gold plated ingot with various stamps embossed on it to the President. The other MoS Shri Sachin Pilot presented the first sheet of “My Stamp” to the President. 
 
The aim of the exhibition is to promote philately and provide a forum for interaction between philatelic stakeholder’s viz. collectors, dealers, stamp designers and printers and postal administrations. The exhibition will showcase some of the best collection of stamps, stationary and philatelic literature from all over the world in different categories. There are 595 collectors from 70 countries who will be participating in the exhibition apart from 28 philatelic dealers and 31 postal administrations. 
 
Among the rare stamps on display is the most expensive Indian stamp, the “Inverted Head Four Annas” issued in 1854. 
 
INDIPEX 2011 has been organized by India Post at Pragati Maidan, New Delhi from 12th to 18th February, 2011 after a gap of thirteen years. It is being organized in collaboration with the Philatelic Congress of India under the auspices of the Federation Internationale de Philatelie and the Federation of Inter-Asian Philately. This is the sixth time that such an exhibition is being held in India. India first held such an exhibition in 1954 and the last one in 1997. 

The President, Smt. Pratibha Devisingh Patil launching the postal stamp on Khadi at the inauguration of the INDIPEX-2011, World Philatelic Exhibition, in New Delhi on February 12, 2011. The Union Minister for Human Resource Development and Communications and Information Technology, Shri Kapil Sibal, the Minister of State for Communications and Information Technology, Shri Sachin Pilot and the Minister of State for Home Affairs, Shri Gurdas Kamat are also seen

Very Good Article on–Working Late! By Narayan Murthy, Infosys

Very Good Article on–Working Late!

Email from the boss


Mail sent by Narayan Murthy to all Infosys staff:
 

It's half past 8 in the office but the lights are still on… 
PCs still running, coffee machines still buzzing… 
And who's at work? Most of them??? Take a closer look… 

All or most specimens are ?? 
Something male species of the human race… 

Look closer… again all or most of them are bachelors… 

And why are they sitting late? Working hard? No way!!! 
Any guesses??? 
Let's ask one of them… 
Here's what he says… 'What's there 2 do after going home…Here we get to surf, AC, phone, food, coffee that is why I am working late…Importantly no bossssssss!!!!!!!!!!!' 

This is the scene in most research centers and software companies and other off-shore offices. 

Bachelors 'Passing-Time' during late hours in the office just bcoz they say they've nothing else to do… 
Now what r the consequences… 

'Working' (for the record only) late hours soon becomes part of the institute or company culture. 

With bosses more than eager to provide support to those 'working' late in the form of taxi vouchers, food vouchers and of course good feedback, (oh, he's a hard worker… goes home only to change..!!). 
They aren't helping things too… 

To hell with bosses who don't understand the difference between 'sitting' late and 'working' late!!! 

Very soon, the boss start expecting all employees to put in extra working hours. 

So, My dear Bachelors let me tell you, life changes when u get married and start having a family… office is no longer a priority, family is… and 
That's when the problem starts… b'coz u start having commitments at home too. 

For your boss, the earlier 'hardworking' guy suddenly seems to become a 'early leaver' even if u leave an hour after regular time… after doing the same amount of work. 

People leaving on time after doing their tasks for the day are labelled as work-shirkers… 

Girls who thankfully always (its changing nowadays… though) leave on time are labelled as 'not up to it'. All the while, the bachelors pat their own backs and carry on 'working' not realizing that they r spoiling the work culture at their own place and never realize that they would have to regret at one point of time. 

So what's the moral of the story?? 
* Very clear, LEAVE ON TIME!!! 
* Never put in extra time ' unless really needed ' 
* Don't stay back unnecessarily and spoil your company work culture which will in turn cause inconvenience to you and your colleagues. 

There are hundred other things to do in the evening.. 

Learn music… 

Learn a foreign language… 

Try a sport… TT, cricket……… 

Importantly,get a girl friend or boy friend, take him/her around town… 

* And for heaven's sake, net cafe rates have dropped to an all-time low (plus, no fire-walls) and try cooking for a change. 

Take a tip from the Smirnoff ad: *'Life's calling, where are you??'* 

Please pass on this message to all those colleagues and please do it before leaving time, don't stay back till midnight to forward this!!! 

IT'S A TYPICAL INDIAN MENTALITY THAT WORKING FOR LONG HOURS MEANS VERY HARD WORKING & 100% COMMITMENT ETC. 

PEOPLE WHO REGULARLY SIT LATE IN THE OFFICE DON'T KNOW TO MANAGE THEIR TIME. SIMPLE ! 

Regards, 
NARAYAN MURTHY.

National Knowledge Network Launched web site launched, NKN to Propel India in to a Knowledge Society

National Knowledge Network (NKN) is a revolutionary step towards creating aknowledge society without boundaries.
It will provide unprecedented benefits to theknowledge community and mankind at large. The purpose of such a knowledge network goes to the very core of the country’s quest for building quality institutions with requisite research facilities and creates a pool of highly trained professionals. The NKN is a state-of-the-art Pan-India network. It will facilitate the development of India's information infrastructure, stimulate research, and create next generation applications and services. NKN is designed to provide high availability, Quality of Service, security and reliability
 
National Knowledge Network (NKN) project is aimed at establishing a strong and robust internal Indian network which will be capable of providing secure and reliable connectivity. bring together all the stakeholders from science, technology, higher education, healthcare, agriculture and governance to a common platform.    
 
Using NKN, all vibrant institutions with vision and passion will be able to transcend space and time limitations in accessing information and knowledge and derive the associated benefits for themselves and for the society. Establishing NKN is a significant step towards ushering in a knowledge revolution in the country with connectivity to 1500+ institutions. NKN is intended to connect all the knowledge and research institutions in the country using high bandwidth / low latency network.
 
Globally, frontier research and innovation are shifting towards multidisciplinary and collaborative paradigm and require substantial communication and computational power. In India, NKN with its multi-gigabit capability aims to connect all universities, research institutions, libraries, laboratories, healthcare and agricultural institutions across the country to address such paradigm shift. The leading mission oriented agencies in the fields of nuclear, space and defence research are also part of NKN. By facilitating the flow of information and knowledge, the network addresses the critical issue of access and create a new paradigm of collaboration to enrich the research efforts in the country. The network design is based on a proactive approach that takes into account the future requirements and new possibilities that this infrastructure may unfold, both in terms of usage and perceived benefits. This will bring about a knowledge revolution that will be instrumental in transforming society and promoting inclusive growth.
 
Background
The idea of setting up the NKN was deliberated & finalised at the office of Principal Scientific Advisor (PSA) to the Government of India (GoI) and the National Knowledge Commission (NKC) after a collaborative engagement with the key stakeholders including experts, potential users, telecom service providers, educational and research institutions. The discussions resulted in a consensus for an optimal approach to be adopted for setting up such a network, to provide a unified backbone for all the sectors.
Government of India has constituted a High Level Committee (HLC) for establishment of NKN, under the Chairmanship of the PSA to GoI. National Informatics Centre has been designated as implementing agency for NKN. The vision of NKN has been translated into an action plan by the Technical Advisory Committee (TAC) set up by the HLC.
 
NKN was approved in March 2010 by the Cabinet with an outlay of Rs 5990 Crores. As a forerunner of NKN Initial phase has been successfully executed by National Informatics Centre (NIC).
Highlights
 
The architecture of NKN has been designed for reliability, availability & scalability. The network consists of an ultra-high speed core, starting with multiple 2.5/10 G and progressively moving towards 40/100 Gigabits per Second (Gbps). The core is complimented with a distribution layer covering all districts at appropriate speeds.
 
The participating institutions at the edge would seamlessly connect to NKN at gigabit speed. The NKN shall be a critical information infrastructure for India to evolve as a knowledge society. NKN is a significant step which will enable scientists, researchers and students from across the country to work together for advancing human development in critical and emerging areas.
 
– Establishing a high-speed backbone connectivity which will enable knowledge and information sharing.
– Enabling collaborative research, development and Innovation
– Facilitating advanced distance education in specialized fields such as engineering, science, medicine etc.
– Facilitating an ultra high speed backbone for e-Governance
– Facilitating integration of different sectoral networks in the field of research, education, health, commerce and governance.
 
Connectivity
The backbone of the network starts from 2.5 Gbps and progressively moves onto 10 Gbps connectivity between 7 Supercore (fully meshed) locations pan India. The network is further spread out through 26 Core locations with multiple of 2.5/10 Gbps partially meshed connectivity with Supercore locations. The distribution layer connects entire country to the core of the network using multiple links at speeds of 2.5/10 Gbps. The end users are being connected upto a speed of 1 Gbps.
 
The network architecture and governance structure allows users with options to connect to the distribution layer as well.NKN enables creation of Virtual Private Networks (VPN) as well for special interest groups.
 
NKN provides international connectivity to its users for global collaborative research. Presently, NKN is connected to Trans Eurasia Information Network (TEIN3). Similar connectivity to GLORIAD network is in the pipeline.
 
Applications
 
Countrywide Virtual Classroom
The NKN is a platform for delivering effective distance education where teachers and students can interact in real time. This is especially significant in a country like India where access to education is limited by factors such as geography, lack of infrastructure facilities etc. The network enables co-sharing of information such as classroom lectures, presentations and handouts among different institutions.
 
Collaborative Research
The NKN enables collaboration among researchers from different entities like GLORIAD, TEIN3, GARUDA, CERN etc. NKN also enables sharing of scientific databases and remote access to advanced research facilities.
 
Virtual Library 
The Virtual Library involving sharing of journals, books and research papers across different institutions, is a natural application for NKN.
 
Sharing of Computing Resources
High-performance computing is critical for national security, industrial productivity, and advances in science and engineering. The network enables a large number of institutions to access high-performance computing to conduct advanced research in areas such as weather monitoring, earthquake engineering and other computationally intensive fields.
 
Grid Computing
The NKN has the capability to handle high bandwidth with low latency and provision to overlay grid computing. Some of the grid based applications are climate change/global warming, science projects like Large Hadron Collider (LHC) and ITER. The NKN can be the platform to realize many such innovative applications. The Garuda Grid has enhanced its power and stability by migrating to NKN.
Network Technology Test-bed
NKN provides test-bed for testing and validation of services before they are made available to the production network. NKN also provides an opportunity to test new hardware & software, vendor interoperability etc.
 
National Knowledge Network (NKN) is a significant step towards ushering a knowledge revolution in the country and poses a challenge to the ways we think and work. Technology is enabler but efforts beyond that are required to inform, educate and empower people of the country. This was stated by Shri Kapil Sibal, Union Minister for Communication and Information Technology (C&IT) at the launching of Logo and Website of the NKN here today. He said we need to work even harder to reap the benefits of this kind of network and put it to the use of the children and people in the remote parts of India. 
 
Speaking from Chicago through video conferencing, Shri Sam Pitroda, Advisor to the Prime Minister on Public Information Infrastructure and Innovations appreciated and thanked the entire team for making the NKN possible in a very short period. He emphasised the need to take fibre based connectivity to all the 2,50,000 panchayats and all the municipalities in the country. 
 
Later speaking on the occasion, Shri Sachin Pilot MoS for C&IT said in this era of Information Communication Technology (ICT) influencing every life NKN will enable Indians to reach new heights. The Government’s endeavour is that with best IT infrastructure India must keep an edge over the world to be the super power in the field of Information Technology. This NKN will equip young Indians to face the global challenges in the times to come. 
 
Dr. R. Chidambaram, Principal Scientific Adviser to the Government of India and Chairperson of the NKN High Level Committee made an interactive presentation demonstrating how the NKN will connect various stakeholders. Representatives from IIT Indore, IIT Hyderabad, IIT Guwahati, IIT Madras, Indian Institute of Science, Bangalore, CSIR , Ministry of Earth Sciences and BARC participated in the live interaction . 
 
Speaking on the occasion, the Secretary, Shri S.K. Sharma, Department of Information Technology said that the NKN will transform the knowledge landscape of the country. 
 
National Knowledge Network (NKN) envisages connecting all higher centres of learning and research by bringing together all stakeholders from science, technology, higher education, healthcare, agriculture and governance to a common platform. Initially, the decision to set up NKN was announced in 2008-09 with an allocation of Rs.100 crore to the Department of Information Technology, Ministry of Communications and IT. Hon’ble President of India, Smt. Pratibha Devisingh Patil inaugurated the NKN on 9th April, 2009. Since then this vision has translated into a concrete implementation plan with approval form Cabinet in March, 2010. An outlay of Rs. 5,990 Crore has been approved for this project and it shall be implemented by NIC over a period of next two years and operated for over next 10 years. 
 
The implementation of NKN is currently underway and aims to accomplish connectivity to approximately 550+ institutions across the country by March, 2011. 
 
In Phase-I, the Service Providers are connecting the NKN Points of Presence (PoPs) with 2.5Gigabits bandwidth links. The bandwidth of these PoP’s shall be enhanced from 2.5G to 10G in the next year. So far, 76 links for the creation of the backbone for NKN project have been established. Also, connectivity with 200 edge links for various institutions has been accomplished. 

 

The Union Minister for Human Resource Development and Communications and Information Technology, Shri Kapil Sibal launching the website & logo of National Knowledge Network, in New Delhi on February 05, 2011. The Minister of State for Communications and Information Technology, Shri Sachin Pilot is also seen.

Balayya at his Best (YouTube): watch & laugh

India’s per capita income has grown up to Rs. 46,492 from Rs. 40,605 in 2009-10

According to the government announcement, India's per capita income has grown up to Rs. 46,492 from Rs. 40,605 in 2009-10. As per the revised data the per capita income rose about 14.5 per cent.

Output of the six core infrastructure industries grew by a healthy 6.6 per cent in December, 2010, an indicator that the Indian economy is on a firm wicket. The  data released by the Industry Ministry today revealed that the six core sectors — crude oil, petroleum refinery products, coal, electricity, cement and finished steel —  expanded by 6.2 per cent in December, 2009. The 6.6 per cent growth charted in December, 2010, is significantly higher than the 3 per cent expansion recorded in the previous month  and it is all set to lift the index of industrial production or IIP numbers for December. Industrial output, as measured by the IIP, had sunk to an 18-month low of 2.7 per cent in November, 2010. These core industries account for 26.68 per cent of the country's total industrial output. Petroleum refinery output grew by 8.3 per cent, while production of coal registered 3 per cent growth in December, 2010.

However, growth in cement production slowed to 2.2 per cent in December, 2010, compared to 11 per cent expansion in December, 2009. Finished steel production grew by 11.2 per cent in December, 2010, from 9.6 per cent in the comparable period a year ago.