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Tuesday, September 25, 2012
కొన్ని వీడియోలు - 12వ వార్షికోత్సవ సంచిక కంప్యూటర్ ఎరా అక్టోబర్ 2012
Operational Features of the Rajiv Gandhi Equity Savings Scheme
Finance Minister approves the Operational Features of the Rajiv Gandhi Equity Savings Scheme
The Union Finance Minister Shri P. Chidambaram approved a new tax saving scheme called "Rajiv Gandhi Equity Saving Scheme"(RGESS),exclusively for the first time retail investors in Securities Market. This Scheme would give tax benefits to new investors who invest up to Rs. 50,000 and whose annual income is below Rs. 10 lakh.
The Scheme not only encourages the flow of savings and improves the depth of domestic capital markets, but also aims to promote an 'equity culture' in India. This is also expected to widen the retail investor base in the Indian securities markets.
Salient features of the Scheme are as under:
a. Scheme is open to new retail investors, identified on the basis of their PAN numbers. This includes those who have opened the Demat Account but have not made any transaction in equity and /or in derivatives till the date of notification of this Scheme and all those account holders other than the first account holder who wish to open a fresh account.
b. Those investors whose annual taxable income is ≤ Rs. 10 lakhs are eligible under the Scheme.
c. The maximum Investment permissible under the Scheme is Rs. 50,000 and the investor would get a 50% deduction of the amount invested from the taxable income for that year.
d. Under the Scheme, those stocks listed under the BSE 100 or CNX 100, or those of public sector undertakings which are Navratnas, Maharatnas and Miniratnas would be eligible. Follow-on Public Offers (FPOs) of the above companies would also be eligible under the Scheme. IPOs of PSUs, which are getting listed in the relevant financial year and whose annual turnover is not less than Rs. 4000 Crore for each of the immediate past three years, would also be eligible.
e. In addition, considering the requests from various stakeholders, Exchange Traded Funds (ETFs) and Mutual Funds (MFs) that have RGESS eligible securities as their underlying and are listed and traded in the stock exchanges and settled through a depository mechanism have also been brought under RGESS.
f. To benefit the small investors, the investments are allowed to be made in instalments in the year in which tax claims are made.
g. The total lock-in period for investments under the Scheme would be three years including an initial blanket lock-in period of one year, commencing from the date of last purchase of securities under RGESS.
h. After the first year, investors would be allowed to trade in the securities in furtherance of the goal of promoting an equity culture and as a provision to protect them from adverse market movements or stock specific risks as well as to give them avenues to realize profits.
i. Investors would, however, be required to maintain their level of investment during these two years at the amount for which they have claimed income tax benefit or at the value of the portfolio before initiating a sale transaction, whichever is less, for at least 270 days in a year. The calculation of 270 days includes those days pursuant to the day on which the market value of the residual shares /units has automatically touched the stipulated value after the date of debit.
j. The general principle under which trading is allowed is that whatever is the value of stocks / units sold by the investor from the RGESS portfolio, RGESS compliant securities of at least the same value are credited back into the account subsequently. However, the investor is allowed to take benefits of the appreciation of his RGESS portfolio, provided its value, as on the previous day of trading, remains above the investment for which they have claimed income tax benefit.
k. For the purpose of valuation of shares, the closing price as on the previous day of the date of trading will be considered so that new investors are certain about their debits and credits into the account.
l. In case the investor fails to meet the conditions stipulated, the tax benefit will be withdrawn.
Like all financial products which have reached out substantially to the retail investors (post office savings, life insurance policies etc) through tax benefits, this tax break for direct investment in equity is expected to substantially encourage the retail participation in securities market as well as to enhance their participation in the growth of Indian industry. Entry of more retail investors are expected to further deepen the securities markets as they bring in long-term stable funds, which can counteract the volatility created by the liquidity providers of the market. The Scheme, thus, also furthers the goal of financial stability and promotes financial inclusion. Since Exchange Traded Funds and Mutual Funds have also been brought under the Scheme, the Scheme should provide encouragement and re-assurance to the first time investors.
The broad provisions of the Scheme and the income tax benefits under it have already been incorporated as a new Section - 80CCG - of the Income Tax Act, 1961, as amended by the Finance Act, 2012.
Saturday, September 22, 2012
Some more useful tips for civils mains
[Some of these suggestions are given by subrahmanyam, osmania university, IRS-IT, 2010 batch]
Some useful tips for civils mains : These are not hard and fast rules, pls feel free to modify them to suit your needs.
1. While preparing for mains, try to cover as many topics as possible. For this keep syllabus with you always, and underline what you have read. You can rely on any material – Delhi notes etc, but don't clutter your preparation with redundant material. Practice answer writing for previous question papers, starting with 2011 and working backwards.
In exam:
2. Attempt as many questions as possible. If you are running out of time, try to answer partially, but attempt maximum as required.
Illustration:
Case 1:You write three Q's perfectly and you may get 35+35+35.
Case 2:You write 3 Q's normally 2 Q's better.
You may get 20+25+25+30+30.
3. Try to limit your answers in such a way that you'll write 1 page(one side of paper) for 10 marks. Generally, this amounts to 100 words. Don't spill one or 2 lines into next page. This will save lot of your time (you can attempt more questions), makes your answers precise and comforts the evaluator (and you score well!). Similarly, you should keep checking that you are able to finish around 60 marks in half an hour. Remaining half an hour is buffer time, which you will any way may be to go through question paper etc.
4. Give simple examples or your observations, to enrich your answers.
Eg: broadcasting of gram sabha meeting in cable tv.[good governance]
How e-seva made bill payment etc. easy .
'irctc' railway booking etc.
How RTI helped in transparency, fairness etc.
5. For optional, always apply subject concepts to general questions asked.
Write to the point. To understand what is asked in question, to get the tone of question, spend 1 minute.
6. Communication is complete only if it is understood by receiver. Hence use simple language to present your powerful ideas and analysis. Quality of analysis is important. Hi sounding words, flowery language doesn't help. Structure your points well so that – 1. There is logical flow; 2. Important and relevant points come first in the answer.
7. Choose 1-2 answers you can answer very well and start your exam paper with them.
8. Answer by touching all aspects asked in question.
Eg. Q) Evolution and relevance of parliamentary standing committees/ Election Commission/Judicial review?
[leisure reading- http://www.parliamentofindia.nic.in/ls/intro/p21.htm]
You have to touch on both evolution(history) and relevance(current impact).
Q)Is culture influenced by cinema, or cinema influenced by culture?
If you want to argue both ways, cover both aspects 50-50%.
9. In essay/long questions, try to include diverse points.
Eg. Q) Is india becoming global power?
You should not limit to political(democratic) leadership but include economic, cultural, strategic(military), socio etc. (No clue aa? Just think of contents in GS syllabus)
Q)Agriculture improvement? Dont limit your self to production and green revolution but think about complete supply chain. [Inputs – fertilizers(+subsidies), seeds, credit(bank loans) ; Production – sustainable agriculture, organic farming, high yield varieties; using outputs: transport to markets, market availablility(+Minimum Support Price), storage facilities etc.], import/export policy etc.
But this may be very time consuming, so try to do it quickly. Again, if question is small you can limit yourself.
10. For optional like telugu literature paper-II, try to read as much from original text as possible. This way you can answer a question asked from any angle and you can quote lines directly from book. This will save lot of time while revising.
Srujan Nakidi, IRS-CCE
Friday, September 21, 2012
www.medguideindia.com- a very useful source for all consumers
This website is the first of it's kind and is an easily accessible source of information on various drugs available in India including their prices. The service being provided is absolutely free of charge to all it's consumers.
Objective:
Medguide.India was launched in 2007 to serve the consumers for an easy access to accurate information on wide range of medicinal formulations and their prices at the click of mouse.
It has been a trusted source of information pertaining to:
1. Drugs being manufactured and/or marketed in India.
2. Directory of pharmaceutical organizations in the country.
3. Composition of brands and comparative prices of various brands of same composition
Benefits:
There are several thousand drugs manufacturers in the Indian Pharmaceutical Industry, who introduce new or modified products in the market at a rapid rate.
Our website:
1 Organizes and disseminates all this data to all it's consumers free of charge.
2. Acts as a ready source of updated information for the medical professionals who find it tough
to keep updated on all advances and developments in the drug industry.
3. Comparative prices of various brands of a particular composition helps the consumers in getting a quality medicine at a cheaper rate.
Target Users:
This website has been designed keeping in mind that a non computer savvy end user has an easy access to information on generic drugs amongst plethora of brands.
The website has been planned in a way so that it serves as a reliable source of information to all concerned viz medical professionals, pharmacists, medical institutions, manufacturers in addition to consumers.
Global Mission:
Our website aims to assist the Indian Pharmaceutical Industry to develop their identity in the global market, especially the South-Asian. It also helps the industry to diversify from selling bulk formulations to branded medicines. By marketing the drugs under the Indian Brand Names into foreign market, the industry will reap full benefit of its comparative cost advantage.
Additional Features:
The website has been updated to meet the increasing demands of the society about various issues pertaining to medical services:
DRUGS:
1 Indications and contraindication of drugs;
2.List of banned drugs as notified by government of India;
3. Import of drugs for personal use
4. Recently Launched brands
5. List of essential drugs as per notification of government of India notification(2003).
6. Classified group
IMMUNISATION:
a. National immunization schedule;
b. Additional immunization after consultation with a doctor;
c. Immunization under special circumstances;
d. List of vaccines available in the Indian market:
Health Insurance:
1. Types of health insurance offered
2. Names of companies with their respective plans
3. Precautions to be taken while opting for a health insurance plan
4. What is third party administration.
5. How to make a hassle free claim.
6. ROAD MAP –How to approach various Disputes Redressal Courts, once the claim in rejected.
7. Judgments by various courts which might be useful for approaching various courts
Objective:
Medguide.India was launched in 2007 to serve the consumers for an easy access to accurate information on wide range of medicinal formulations and their prices at the click of mouse.
It has been a trusted source of information pertaining to:
1. Drugs being manufactured and/or marketed in India.
2. Directory of pharmaceutical organizations in the country.
3. Composition of brands and comparative prices of various brands of same composition
Benefits:
There are several thousand drugs manufacturers in the Indian Pharmaceutical Industry, who introduce new or modified products in the market at a rapid rate.
Our website:
1 Organizes and disseminates all this data to all it's consumers free of charge.
2. Acts as a ready source of updated information for the medical professionals who find it tough
to keep updated on all advances and developments in the drug industry.
3. Comparative prices of various brands of a particular composition helps the consumers in getting a quality medicine at a cheaper rate.
Target Users:
This website has been designed keeping in mind that a non computer savvy end user has an easy access to information on generic drugs amongst plethora of brands.
The website has been planned in a way so that it serves as a reliable source of information to all concerned viz medical professionals, pharmacists, medical institutions, manufacturers in addition to consumers.
Global Mission:
Our website aims to assist the Indian Pharmaceutical Industry to develop their identity in the global market, especially the South-Asian. It also helps the industry to diversify from selling bulk formulations to branded medicines. By marketing the drugs under the Indian Brand Names into foreign market, the industry will reap full benefit of its comparative cost advantage.
Additional Features:
The website has been updated to meet the increasing demands of the society about various issues pertaining to medical services:
DRUGS:
1 Indications and contraindication of drugs;
2.List of banned drugs as notified by government of India;
3. Import of drugs for personal use
4. Recently Launched brands
5. List of essential drugs as per notification of government of India notification(2003).
6. Classified group
IMMUNISATION:
a. National immunization schedule;
b. Additional immunization after consultation with a doctor;
c. Immunization under special circumstances;
d. List of vaccines available in the Indian market:
Health Insurance:
1. Types of health insurance offered
2. Names of companies with their respective plans
3. Precautions to be taken while opting for a health insurance plan
4. What is third party administration.
5. How to make a hassle free claim.
6. ROAD MAP –How to approach various Disputes Redressal Courts, once the claim in rejected.
7. Judgments by various courts which might be useful for approaching various courts
Ministry of Information & Broadcasting You Tube Channe
Dear all,
The Ministry of Information & Broadcasting launches its You Tube Channel. The channel contains News as they fall, short films/documentaries made by students of Film and Television Institute of India, Pune, different flagship programmes of Government of India, Video Coverage of Group of Ministers etc etc.
I am the in charge of the newly made Social Media Cell of the ministry. Your comments / suggestions are invited for the improvement of the channel.
Have a look at the channel
Thanks & Regards
Nanda Kishore Reddy, IIS
Wednesday, September 19, 2012
Wish you a very very happy Ganesha Chaturthi
Dear All,
@(. = .)@
() ,jj, ()
( )( /. )( )
G-get
A-always
N-new
E-energy
S-spirit &
H-happiness.
May Lord Ganesha bring you good luck and prosperity!...
Wish you a very very happy Ganesha Chaturthi.....
@(. = .)@
() ,jj, ()
( )( /. )( )
G-get
A-always
N-new
E-energy
S-spirit &
H-happiness.
May Lord Ganesha bring you good luck and prosperity!...
Wish you a very very happy Ganesha Chaturthi.....
Tuesday, September 18, 2012
Some tips to overcome CSAT Language problems
Friends,
In the recent past we have seen a Letter from Civil Service aspirants to Media on possible discrimination in Prelims( you can see that from http://www.itcsa.blogspot.in/2012/08/letter-from-civil-service-aspirants-to.html ). The problem is not only with civil services exam, but with other exams conducted by UPSC, SSC, and defense services exams as well.
1. Try to finish maths, logical reasoning and decision making questions(which don't have -ve mark) first. You have to quickly go through paper and find where they are. Don't commit mistake while filling the right answer in answer sheet.
2. The passages seem to be too technical(scientific/finance terms) or philosophical(thought streams). Hence read at least one passage of scientific, financial, or philosophical per week from The Hindu or Yojana. This will be useful for your essay or GS.
3. [Important- While writing exam] There are so many small passages with technical terms, and for each passage only 2-3 questions are asked. The questions are not direct that you can pick a work or a sentence and answer. They ask for gist or thought flow to test your grasping power. The strategy to be followed is:
a. Don't waste time in reading and re-reading the passage. You may end up not even attempting many questions.
b. Quickly read questions first, without reading four options. Then go back to passage and read it only for once. Now read the question again and tick the answer. Believe in your self. Jump back to passage only if you think that is needed. But remember, don't do this too many times.
4. Attempt as many questions as possible, because no one can be 100% sure about answers. If you have attempted 50% of the paper, there are more chances that you will fail. But if you attempt 80-90% your chances of clearing will increase.
5. Attempt a question even if your are less than 50% sure. You decide when to attempt, and believe in yourself.
6. Try to join some institute where reading comprehension is taught and improve your vocabulary. keep a dictionary always with you and refer to it whenever you come across new word.
From MR. NAKIDI SRUJAN KUMAR IRS( Customs & Excise)
In the recent past we have seen a Letter from Civil Service aspirants to Media on possible discrimination in Prelims( you can see that from http://www.itcsa.blogspot.in/2012/08/letter-from-civil-service-aspirants-to.html ). The problem is not only with civil services exam, but with other exams conducted by UPSC, SSC, and defense services exams as well.
With simple maths questions and very few decision making questions, CSAT has practically become test of reading comprehension.
Here are some tips to overcome this before UPSC takes some steps to address this:
Here are some tips to overcome this before UPSC takes some steps to address this:
1. Try to finish maths, logical reasoning and decision making questions(which don't have -ve mark) first. You have to quickly go through paper and find where they are. Don't commit mistake while filling the right answer in answer sheet.
2. The passages seem to be too technical(scientific/finance terms) or philosophical(thought streams). Hence read at least one passage of scientific, financial, or philosophical per week from The Hindu or Yojana. This will be useful for your essay or GS.
3. [Important- While writing exam] There are so many small passages with technical terms, and for each passage only 2-3 questions are asked. The questions are not direct that you can pick a work or a sentence and answer. They ask for gist or thought flow to test your grasping power. The strategy to be followed is:
a. Don't waste time in reading and re-reading the passage. You may end up not even attempting many questions.
b. Quickly read questions first, without reading four options. Then go back to passage and read it only for once. Now read the question again and tick the answer. Believe in your self. Jump back to passage only if you think that is needed. But remember, don't do this too many times.
4. Attempt as many questions as possible, because no one can be 100% sure about answers. If you have attempted 50% of the paper, there are more chances that you will fail. But if you attempt 80-90% your chances of clearing will increase.
5. Attempt a question even if your are less than 50% sure. You decide when to attempt, and believe in yourself.
6. Try to join some institute where reading comprehension is taught and improve your vocabulary. keep a dictionary always with you and refer to it whenever you come across new word.
From MR. NAKIDI SRUJAN KUMAR IRS( Customs & Excise)
About the Author : He is from 2011 batch IRS and belongs to Nirmal, Adilabad, Andhra Pradesh. He has got 293 rank in civil services exam 2010. Now with NABARD. Worked as Design Engineer in Texas Instruments India Pvt Ltd. for 3.4 years. MTech microelectronics from IIT Bombay, BTech Electronics and Communication from JBIT, Hyderabad.
Saturday, September 15, 2012
India’s Most Powerful Bureaucrats, 2012
THE final BoI List of India's Most Powerful Bureaucrats, 2012, is here. And this is the fourth year in running, www.babusofindia.com has come out with the list of 5 most powerful Indian bureaucrats. This time, the selection is based on opinion of about 100 people including politicians, bureaucrats and civil society activists who understand the nuances of corridors of power: who goes up and who is lagging behind. The power list incidentally includes a seasoned diplomat, a state chief secretary and even a joint secretary for the first time.
And ladies and gentlemen, the most powerful Indian bureaucrat in 2012 is none other than…
Pulok Chatterji, principal secretary to PM and the only bureaucrat in India who does not need an appointment to drive down to 10 Janpath, the official residence of UPA chairperson Sonia Gandhi.
In August 2009, BoI surprised many of its readers when it ranked Chatterji above TKA Nair even when Chatterji was then located in Washington DC serving as India's executive director to World Bank. We wrote: "…but his one phone call carries more power than many important files doing round the power corridors of Delhi." After all, he has been attached to the Gandhi family from the time he was the district magistrate of Rae Bareli in early 1980s when Indira Gandhi represented the constituency. Later, he had served as private secretary to Sonia Gandhi when she was the leader of the Opposition during the NDA regime.
His high connection is further supplemented by his massive administrative skills. He along with cabinet secretary and his IAS batch-mate Ajit K Seth (you can call both as Pulokaseth) have picked up right secretary for each department. But the real contribution of Chatterji as principal secretary to PM has been his ability to co-ordinate with ministries and cripple "policy paralysis" wherever possible. When most bureaucrats were shying away from initiating any pro-industry policies, Chatterji has become a key driver in pushing big-ticket infrastructure projects and getting the "India story" still on track.
But, there are challengers all around him. The so-called Coalgate scam has dragged PMO into controversy. Top Indian auditor CAG has given an astronomical figure as "loss to the exchequer" because of allocation of coal blocks to private companies without an auction. The government has argued that it has just followed the policy of earlier regimes. But it remains to be seen whether Chatterji succeeds in keeping the PMO at the "arm's length"? Chatterji's bigger challenge, however, is to make the government's social agenda digestible for the Congress party which will face the crucial general elections in May 2014.
And if sources are to be believed, Chatterji is quietly mentoring Rahul Gandhi by giving him "real-life" lessons from inside the government.
4 Other Powerful Bureaucrats
Menon as 2nd Most Powerful
National Security Adviser Shiv Shankar Menon's mother tongue is Malayalam but he speaks Chinese as fluently as someone from north of the McMohan Line. He speaks German too. But his ability to speak multiple languages does not qualify him to be powerful. BoI has chosen this ultra-low profile diplomat to be India's second most powerful bureaucrat because he has remained at the core of India's security and diplomacy at least for the last six years.
Read
Changing faces of national security
Mr Investigator, 3rd Most Powerful
Mr Investigator is faceless and plural; could be from CBI, CVC, ED or I-T. He is taking more and more responsibilities, and in that process he has invariably entered a hitherto "no go" area of probing powerful politicians.
Read
Heading CBI, ED…
Usmani as 4th Most Powerful
He is the chief secretary of India's most populated state, Uttar Pradesh. But how can a bureaucrat located at 500 km away from power-centre become powerful? It is because this Lucknow-based bureaucrat and 1978 batch senior-most IAS officer, can speed up his state's agenda by using his personal equations with those who matter in Delhi.
Read
Usmani's equations
Mr Indispensable, 5th most powerful
The appointment rules were relaxed by Prime Minister Manmohan Singh to accommodate BVR Subrahmanyam, a 1987 batch Chhattisgarh cadre IAS, as a joint secretary in PMO. What makes BVR Mr Indispensable?
Read
PM on BVR
And ladies and gentlemen, the most powerful Indian bureaucrat in 2012 is none other than…
Pulok Chatterji, principal secretary to PM and the only bureaucrat in India who does not need an appointment to drive down to 10 Janpath, the official residence of UPA chairperson Sonia Gandhi.
In August 2009, BoI surprised many of its readers when it ranked Chatterji above TKA Nair even when Chatterji was then located in Washington DC serving as India's executive director to World Bank. We wrote: "…but his one phone call carries more power than many important files doing round the power corridors of Delhi." After all, he has been attached to the Gandhi family from the time he was the district magistrate of Rae Bareli in early 1980s when Indira Gandhi represented the constituency. Later, he had served as private secretary to Sonia Gandhi when she was the leader of the Opposition during the NDA regime.
His high connection is further supplemented by his massive administrative skills. He along with cabinet secretary and his IAS batch-mate Ajit K Seth (you can call both as Pulokaseth) have picked up right secretary for each department. But the real contribution of Chatterji as principal secretary to PM has been his ability to co-ordinate with ministries and cripple "policy paralysis" wherever possible. When most bureaucrats were shying away from initiating any pro-industry policies, Chatterji has become a key driver in pushing big-ticket infrastructure projects and getting the "India story" still on track.
But, there are challengers all around him. The so-called Coalgate scam has dragged PMO into controversy. Top Indian auditor CAG has given an astronomical figure as "loss to the exchequer" because of allocation of coal blocks to private companies without an auction. The government has argued that it has just followed the policy of earlier regimes. But it remains to be seen whether Chatterji succeeds in keeping the PMO at the "arm's length"? Chatterji's bigger challenge, however, is to make the government's social agenda digestible for the Congress party which will face the crucial general elections in May 2014.
And if sources are to be believed, Chatterji is quietly mentoring Rahul Gandhi by giving him "real-life" lessons from inside the government.
4 Other Powerful Bureaucrats
Menon as 2nd Most Powerful
National Security Adviser Shiv Shankar Menon's mother tongue is Malayalam but he speaks Chinese as fluently as someone from north of the McMohan Line. He speaks German too. But his ability to speak multiple languages does not qualify him to be powerful. BoI has chosen this ultra-low profile diplomat to be India's second most powerful bureaucrat because he has remained at the core of India's security and diplomacy at least for the last six years.
Read
Changing faces of national security
Mr Investigator, 3rd Most Powerful
Mr Investigator is faceless and plural; could be from CBI, CVC, ED or I-T. He is taking more and more responsibilities, and in that process he has invariably entered a hitherto "no go" area of probing powerful politicians.
Read
Heading CBI, ED…
Usmani as 4th Most Powerful
He is the chief secretary of India's most populated state, Uttar Pradesh. But how can a bureaucrat located at 500 km away from power-centre become powerful? It is because this Lucknow-based bureaucrat and 1978 batch senior-most IAS officer, can speed up his state's agenda by using his personal equations with those who matter in Delhi.
Read
Usmani's equations
Mr Indispensable, 5th most powerful
The appointment rules were relaxed by Prime Minister Manmohan Singh to accommodate BVR Subrahmanyam, a 1987 batch Chhattisgarh cadre IAS, as a joint secretary in PMO. What makes BVR Mr Indispensable?
Read
PM on BVR
Young IAS R Sudhan raises fund from his batch-mates for a cause in a NE district
A YOUNG Manipur-Tripura cadre IAS officer R Sudhan has begun to collect Rs 500 from each of his 89 batch-mates. This officer of 2006 batch, currently serving as deputy commissioner in Manipur's Ukhrul district, has adopted this unique fund-raising method…
to help his district's women volunteers to work towards food security.
According to local media, Sudhan who originally hails from Tamil Nadu, announced his plans while addressing Women Bread Winners' Union (WBWU) in the town's community hall recently. Significantly, this organization was also formed in 2006 by about 100 women farmers of Ukhrul, a hill district of Manipur dominated by Nagas, mainly to achieve food security.
The women volunteers save some amount of rice every month from each family, keep those in the common granary only to be used during the days of massive food scarcity.
The question is not just of a meager contribution of Rs 500. Sudhan's efforts to connect his batch-mates posted across the country for the cause may help other officers understand about a non-descript hilly district of North-East India, its people and problems. Only last month, about 40,000 North-Easterners had to flee Bangalore in three days after hate SMSes and MMSes were spread by a few miscreants. In many cases, lack of understanding about the people and places of the North-East is largely responsible for non-integration of NE people with rest of Indians even after 65 years of India's independence.
Sudhan was an engineer before getting into IAS
to help his district's women volunteers to work towards food security.
According to local media, Sudhan who originally hails from Tamil Nadu, announced his plans while addressing Women Bread Winners' Union (WBWU) in the town's community hall recently. Significantly, this organization was also formed in 2006 by about 100 women farmers of Ukhrul, a hill district of Manipur dominated by Nagas, mainly to achieve food security.
The women volunteers save some amount of rice every month from each family, keep those in the common granary only to be used during the days of massive food scarcity.
The question is not just of a meager contribution of Rs 500. Sudhan's efforts to connect his batch-mates posted across the country for the cause may help other officers understand about a non-descript hilly district of North-East India, its people and problems. Only last month, about 40,000 North-Easterners had to flee Bangalore in three days after hate SMSes and MMSes were spread by a few miscreants. In many cases, lack of understanding about the people and places of the North-East is largely responsible for non-integration of NE people with rest of Indians even after 65 years of India's independence.
Sudhan was an engineer before getting into IAS
History of IRS (Excise,Customs & Service Tax)
Excise is an English word borrowed from Middle Dutch "excijs",and it means to take out a part from something e.g. to excise or scoop out a part of apple with a knife. The excise tax was so called because it was introduced in England/Great Britain/U.K. long back during the time of the Kings and meant taking a part out of.It was introduced in India by the British as separate laws for different commodities manufactured or produced for e.g. motor spirit,cigarettelighters,cotton cloth and later salt, and thus established a whole system for its collection. Finally all theseacts were consolidated as one act i.e. The Central Excise & Salt Act ,1944 and received the assent of the then Viceroy of India on the 24th of February,1944.The purpose was to collect the indirect tax i.e. central excise from manufacturers/producers of goods in India.
Prior to Excise, the first recorded history of poppy cultivation in India in the 15th Century refers Cambay and Malwa as the places where it was grown. During the Mughal Empire, poppy was extensively grown and it was an important article of trade with China and other Eastern countries. During the latter part of the 16th Century, opium was brought under a State monopoly. However, during the twilight years of the Mughal Empire, the State lost its hold and control over the production and sale of opium was appropriated by a ring of merchants in Patna. In 1757, the monopoly of the cultivation of poppy passed into the hands of the East India Company who had by that time assumed the responsibility for collection of revenue in Bengal and Bihar. In 1873, the then Governor General, Lord Warren Hastings brought the entire opium trade under the control of the Government.The administration of the Narcotics Laws, namely, the Opium Act of 1857 & 1878 and the Dangerous Drugs Act 1930 were vested with the Provincial Government. The amalgamation of these Agencies laid the foundation of the Opium Department in November, 1950 which is presently known as Central Bureau of Narcotics (CBN). The headquarters of Central Bureau of Narcotics was shifted from Shimla to Gwalior in 1960. All the three enactments mentioned above were repealed by the Narcotics Drugs & Psychotropic Substances Act, 1985 (NDPS Act, 1985).
The money collected through these measures was used to run the administration including central,state and district administration, to bring about infrastructural development and various other amenities,facilities and necessities for development of the country and the people of India.
The British also started levying import/export duties at the time of import or export of goods to/from India at the sea ports as a custom duty for the very same purpose and also to meet the cost of various wars what they were continuously waging.The officers in charge were responsible for collecting and safeguarding customs duties and for controlling the flow of goods including animals, transports, personal effects and hazardous items in and out of a country. Therefore, they introduced the Sea Customs Act,1878 which later became the Indian Customs Act,1962.
The Central Board of Revenue was the apex body charged with the administration of taxes came into existence as a result of the Central Board of Revenue Act, 1924. Initially this Board was in charge of both direct and indirect taxes. However, when the administration of taxes becomes too unwieldy for one Board to handle, the Board was split up into two, namely the Central Board of Direct Taxes and Central Board of Excise and Customs with effect from 1.1.1964. This bifurcation was brought about by constitution of the two Boards u/s 3 of the Central Boards of Revenue Act, 1963. Since then Central Board of Excise and Customs is the national agency responsible for administering customs and excise in India.
Till 1969, there was physical control system wherein each clearance from the factory was done under the supervision of the Central Excise Officers. Introduction of Self-Removal procedure was a watershed in the excise procedures.In 1994, the gate pass system gave way to the invoice-based system, and all clearances are now affected on manufacturer's own invoice. Another major change was brought about in 1996, when the Self-Assessment system was introduced.
Service tax was imposed for the first time in India in July 1994. The service tax is applicable all over India however due to the national interest and for the betterment of the people of Jammu and Kashmir it is waved off. Service tax is also a form of indirect tax that is applicable to the services that are taxable in nature.In past few years more than 100 services have been brought under its net.
Thus, the collection from all these taxes has contributed the Government's kitty throughout the ages which has funded India's growth and development in all spheres,as the government needs a good and stable financial resource to manage a whole nation. Without it, the services offered to all citizens could not be effectively managed. The government uses this revenue to support public healthcare, social security, national defence, free elementary education, public housing, and many other social services.
Now we are moving ahead towards Goods and Services Tax (GST) which is one of the proposed tax reforms that center round evolving an efficient and harmonized consumption tax system in the country. Presently, there are parallel systems of indirect taxation at the central and state levels In the Union Budget for the year 2006-2007, Finance Minister proposed that India should move towards national level Goods and Services Tax that should be shared between the Centre and the States. He proposed to set April 1, 2010 as the date for introducing GST. World over, goods and services attract the same rate of tax. That is the foundation of a GST. The first step towards introducing GST is to progressively converge the service tax rate and the CENVAT rate.
The goods and service tax (GST) is proposed to be a comprehensive indirect tax levy on manufacture, sale and consumption of goods as well as services at a national level. Integration of goods and services taxation would give India a world class tax system and improve tax collections. It would end the long standing distortions of differential treatments of manufacturing and service sector. The introduction of goods and services tax will lead to the abolition of taxes such as octroi, Central sales tax, State level sales tax, entry tax, stamp duty, telecom license fees, turnover tax, tax on consumption or sale of electricity, taxes on transportation of goods and services, and eliminate the cascading effects of multiple layers of taxation. GST will facilitate seamless credit across the entire supply chain and across all states under a common tax base.
National Academy of Customs Excise & Narcotics (NACEN) is the premier training institute of Government of India. It is under the administrative control of the Central Board of Excise & Customs (CBEC), Department of Revenue, Ministry of Finance, Government of India.
NACEN is headed by a Director General, who is assisted by Additional Director Generals, Additional Directors, Deputy Directors and Assistant Directors. Director General, NACEN is a very senior civil servant of India, belonging to the India Revenue Service who is of the rank of Additional Secretary to Government of India.
History of IRS (Income Tax)
Administration of income tax in India had begun as early as 1860. In the initial years, provincial governments administered this tax. The organizational history of the Income Tax Department starts from the year 1922, when the IncomeTax Act, 1922, gave specific nomenclature to various Income Tax authorities for the first time. In 1924, the Central Board of Revenue Act constituted a Central Board of Revenue -- the statutory body with functional responsibilities for the administration of the Income-Tax Act. Commissioners of Income Tax were appointed for each province and Assistant Commissioners and Income Tax Officers were placed under their control. Officers from the ICS manned top posts and the lower echelons were filled through promotions from the ranks. The Income Tax Service was established in 1944, which subsequently came to be known as Indian Revenue Service (Income Tax).
The first batch of Income Tax Officers (Class-II) was directly recruited in the year 1944 through the 1943 examination conducted by the Federal Service Commission for IA&AS and Allied Services.
The recruitment of Income Tax Officers (Class-I) started in 1945 with the recruitment of 18 officers through the IA&AS and Allied Services Examination of 1944. The service was then known as Income Tax Officers (Class-I) Service.
After the Union Public Service Commission was constituted, the recruitment was done through the combined Civil Services Examination. In 1953, the Service was recognized as an independent Central Service and was named Indian Revenue Service (Income Tax).
In the initial years, the officers were recruited in four different ways: -
- Officers directly recruited as I.T.O.Class-II) through the 1943 examination who got promoted to Class-I and were given weightage depending upon the evaluation by their Commissioners
- Officers directly recruited to Class-I through the 1944 examination
- Officers directly recruited as I.T.O.Class-II) through the 1943 examination and later selected to Class-I. Weightage was given to them also and their seniority vis-a-vis direct recruits was adjusted
- Officers promoted to Class-I grade from the lower ranks
In 1957, some Income Tax Officers (Class-I) were also recruited on an ad-hoc basis by a competitive examination from amongst officers of armed forces and the Income Tax Officers, (Class-II).
With the passage of time, only two sources of entry to Indian Revenue Service remained- officers directly recruited through Civil Services Examination conducted by UPSC and officers promoted from Income Tax Officers (Class-II) grade.
Induction training at the Academy is now imparted only to the directly recruited IRS officers. Other officers, including the ITOs, attend in-service courses at the Regional Training Institutes.
Friday, September 14, 2012
watch a movie “Inside Job” on global recession
Inside Job is a 2010 documentary film about the late-2000s financial crisis directed by Charles H. Ferguson. The film is described by Ferguson as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption." In five parts, the film explores how changes in the policy environment and banking practices helped create the financial crisis.
Inside Job was well received by film critics who praised its pacing, research, and exposition of complex material. The film was screened at the 2010 Cannes Film Festival in May and won the 2010 Academy Award for Best Documentary Feature.
Has CRR outlived its utility?
Every commercial bank in India has to maintain a certain percentage (presently 4.75 per cent) of its Net Demand and Time Liabilities (NBTL) as CRR (Cash Reserve Ratio) with the RBI. This is mandated by the RBI which is the banking regulator in the country.
CRR is a time-tested policy instrument of the RBI on which no interest is paid by the regulator.
Now, the Chief of SBI, the leading commercial bank in India has opined that some reasonable return, read interest, be paid by RBI. The immediate response of the Apex bank's Deputy Director is not just outright refusal but not in good taste, too. Instead of yielding to at least examine the issue threadbare, he has rebuked the chief of SBI.
As a policy instrument, the CRR is used to serve two objectives - to ensure solvency of banks and manage monetary policy. With just 4.75 per cent of NDTL, there is no way solvency of banks is guaranteed viewed especially in the context of financial crisis. Further, CRR is not used in all countries of the world and is therefore nothing sacrosanct about it. It is now realised that the supervisory oversight of the Regulator is more important to avert disasters such as bank failures.
The second argument for use of CRR is to manage the monetary policy which is the basic responsibility of the Central Bank. In mature economies, major role of the regulator is only to manage inflation; in developing economies, it is meeting dual objectives of growth and restricting inflation. By adjusting the rate of CRR, the intention is to either enhance or curb liquidity. Of course, this is one of the policy instruments. The RBI could also use Open Market Operations (OMO) to adjust liquidity in the market. However, it is easier for the RBI to infuse liquidity in the system; at times, it may not be easy to curb it if banks show reluctance to buy Government paper.
Commercial banks feel that CRR constrains them. Presently the equation is like this: out of ` 100 deposit, SLR (Statutory Liquidity Ratio) takes away ` 22.5, CRR another ` 4.75 and banks have to set aside ` 40 towards priority sector. This leaves just around ` 43 for commercial and profitable lending.
Priority sector lending is mandated by the Government, too. In any case, banks' longer-term interests are also intertwined with financial inclusion and inclusive growth of the economy. Nor can banks have any quarrel with SLR. Presently banks together have around 28 per cent of their NDTL in Government paper. Sluggish growth of the economy has meant there are fewer buyers and higher risks in lending.
On a rough reckoning, ` 3.25 lakh crore is locked up in CRR. As far as banks are concerned this is what the RBI has impounded without paying a penny as interest. In a way, this is also a NPA (Non Performing Asset) even when NPAs in real world are on the rise. Even a 1 per cent interest payment by RBI would give out ` 3,250 crore to the banking system; this would improve the profits of banks by 4.5 per cent! At a time when several banks are struggling to shore up their bottom line, this would be a real boost.
The other option for RBI is to use repo and reverse repo rate instead. But experience shows that interest rate adjustment is only indicative of what the RBI wants. It will impact profits of only those banks which use the RBI's window for repo. On the other hand, CRR hike or reduction has immediate effect, for it immediately impounds or releases liquidity in the system.
CRR is a quantitative measure and is not efficient. With more stringent Basel norms coming sooner or later, efficacy of CRR is bound to be questioned. However, presently the RBI's comfort is in keeping intact CRR. In that case, it would be only proper that a via media needs to be found. Probably answer lies in both lowering CRR gradually and similarly start paying interest and increasing the same to around 3 to 3.5 per cent in a phased manner. This way, the RBI will not be overburdened and at the same time banks will be getting higher amounts for commercial lending.
http://www.navhindtimes.in/business/has-crr-outlived-its-utility
Thursday, September 13, 2012
Vanitha guide videos links for various subjects.
Dear All,
Vanitha guide videos links for various subjects..
IT Jobs, Interview skills, Project works guidance
POLICE Sub Inspector & Constable Written Test guidance
INTER Maths 1A, 1B, 2A, 2B (New syllabus Andhra Pradesh) guidance
APPSC Polytechnic Lecturers guidance
Career guidance & how to choose couses?
JEE - Guidance - Percentails details, JEE Admission Process, JEE preparation Tips
and for more videos visit our you tube channel..
http://www.youtube.com/user/vanithaguide/featured
if anybody need the details.. pl forward links
Wednesday, September 12, 2012
[Diplomacy] National Security: Naresh Chandra Task Force recommendations
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SC/ST RESERVATION MAY BE IMPLEMENTED FROM 1995
Promotion quota, if passed, to be implemented from 1995
NEW DELHI: The Centre proposes to implement reservation in promotion for SCs and STs in government jobs with retrospective effect from June, 1995, according to the bill introduced in Rajya Sabha during the monsoon session.
"It is also necessary to give retrospective effect to the proposed clause (4A) of Article 16 with effect from the date of coming into force of that clause as originally introduced, that is, from the 17th day of June, 1995," the bill states.
This means that the measure will come into effect from 1995 when the Constitution was amended for the purpose of providing reservation in promotions for SCs/STs.
The passage of the Constitution amendment bill has been delayed at least till the Winter session. But following opposition by Samajwadi Party and Shiv Sena and disruptions caused by NDA over coalgate issue, it could not be taken up for consideration and passage.
SCs and STs have been provided reservation in promotions since 1955. This was discontinued following the judgement in the case of Indra Sawhney wherein it was held that it is beyond the mandate of Article 16(4) of the Constitution.
Subsequently, the Constitution was amended by the Constitution (77th Amendment) Act, 1995 and a new clause (4A) was inserted in Article 16 to enable the government to provide reservation in promotion.
Later, clause (4A) was modified by the Constitution (85th Amendment) Act, 2001 to provide consequential seniority to SC and ST candidates promoted by giving reservation.
NEW DELHI: The Centre proposes to implement reservation in promotion for SCs and STs in government jobs with retrospective effect from June, 1995, according to the bill introduced in Rajya Sabha during the monsoon session.
"It is also necessary to give retrospective effect to the proposed clause (4A) of Article 16 with effect from the date of coming into force of that clause as originally introduced, that is, from the 17th day of June, 1995," the bill states.
This means that the measure will come into effect from 1995 when the Constitution was amended for the purpose of providing reservation in promotions for SCs/STs.
The passage of the Constitution amendment bill has been delayed at least till the Winter session. But following opposition by Samajwadi Party and Shiv Sena and disruptions caused by NDA over coalgate issue, it could not be taken up for consideration and passage.
SCs and STs have been provided reservation in promotions since 1955. This was discontinued following the judgement in the case of Indra Sawhney wherein it was held that it is beyond the mandate of Article 16(4) of the Constitution.
Subsequently, the Constitution was amended by the Constitution (77th Amendment) Act, 1995 and a new clause (4A) was inserted in Article 16 to enable the government to provide reservation in promotion.
Later, clause (4A) was modified by the Constitution (85th Amendment) Act, 2001 to provide consequential seniority to SC and ST candidates promoted by giving reservation.
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