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en-gb 2018-07-18T10:21:40+05:30 en-gb 2018-07-18T10:22:34+05:30 en-gb 2018-07-18T10:27:38+05:30 - Dozens of people have been lynched in similar circumstances -- some on suspicion of stealing children, others because they were believed to be killing cows.
- As per available information, the FSL director will send a certificate of assurance, sticking to its examination of the sample and that it belonged to the eight-year-old nomad girl.
- A poll conducted shows that people feel that India can't afford disruptions and adjournments of the House and the prime minister's presence could help it function better.
en-gb 2018-07-18T10:15:02+05:30 Lynch mobs are an Indian problem, not Whatsapp'sDozens of people have been lynched in similar circumstances -- some on suspicion of stealing children, others because they were believed to be killing cows. In Focus: PNB, UltraTech, RCom among stocks to track today âHere is a list of top stocks that are likely to be in focus in today's trading session Check out the stocks that have rallied over 5% In the Nifty50 index, 34 stocks were trading in the green, while 16 stocks were trading in the red. Sensex at 44,000 by June 2019? Take your bet Stocks have a problem of plenty. The cues are so many and jostling for attention. So, where does Indian market go from here? Weak emerging markets, rising rates, higher oil prices, an election year and relatively rich mid-cap valuations are a big overhang. But an improving growth cycle, strong macro stability and local appetite for equities give some cushion. In which case, investors would do well to be on top of things and take an informed call. Morgan Stanley's India Equity Strategy Alpha Almanac lends a hand. Will not supply advance information about witnesses: Prosecution to tell Court As per available information, the FSL director will send a certificate of assurance, sticking to its examination of the sample and that it belonged to the eight-year-old nomad girl. Why lateral entry should be top on Modi's mind This column has argued for decades for the lateral entry of outside experts into top administrative positions to usher in world-class expertise, independence and a different worldview.At last, the Narendra Modi government has invited applications for appointments to 10 joint secretary-level posts from âoutstanding individualsâ, including from the private sector, with expertise in the areas of revenue, financial services, economic affairs, agriculture, cooperation and farmersâ welfare, road transport and highways, shipping, environment, forests and climate change, new and renewable energy, civil aviation, and commerce. These posts will, hopefully, be reserved for lateral entry in years to come, thwarting Indian Administrative Serviceâs (IAS) attempts to sabotage outsiders.Please AdjustBut why only 10 posts for lateral entry? Why not 100, or even 500, including state administrations? India needs a worldclass administration. It does not need an administration monopolised by a handful of people who fared well in a Union Public Service Commission (UPSC) exam decades ago, and have expected automatic promotion on the basis of that exam ever since.In theory, promotions in the bureaucracy do not depend on seniority alone; merit should count too. But a bureaucrat told me smugly in my youth, âMerit is a matter of opinion, but seniority is amatter of fact.â Anybody in the private sector pressing such a viewpoint would be sacked, but this particular official almost became Cabinet secretary.Lateral entry of experts into the administration is routine in well-governed countries across the globe, including the US, Britain, Belgium, Germany, Australia and New Zealand. India is an exception.Has this exception made India better administered than the other countries? Donât make me laugh.The Indian bureaucracy may believe it is the catâs whiskers, but its actual performance has been pathetic. The public believes that the civil service is neither civil nor delivers service.Lateral entry in India is not unknown. Economic posts, in particular, have often been occupied by outsiders, including Manmohan Singh, Montek Ahluwalia, Vijay Kelkar, Bimal Jalan, Shankar Acharya, Rakesh Mohan, Arvind Virmani, Arvind Panagariya and Arvind Subramanian.Many played an absolutely key role in creating and implementing the economic reforms from 1991 onward, which have now made India the fastestgrowing economy in the world.Yet, the bureaucratic reaction to this success was so adverse that the government decided to âcadre-iseâ economic posts to ensure that members of the Indian Economic Service got to the top. Has this produced even one outcome that stands out? Alas, no.Many disgruntled bureaucrats will try to sabotage Modiâs lateral entry reform unobtrusively. One ex-bureaucrat, Sudeep Singh Dhillon, has come into the open in a recent Mint column (âLateral Entry Can Crush the Steel Frame of Indiaâ, goo.gl/9Gn5Lj). He cites global experts as saying that getting into the IAS is as difficult as getting into Harvard. This proves, he thinks, that IAS chaps are the brightest, and best qualified to rule.True, getting into the IAS proves you are very bright. But so does getting into St Stephenâs College, any IIT or IIM, or Infosys or Hindustan Unilever. But does entry into any of these institutions guarantee you seniority for life, or protection against being overtaken by lateral entrants? Of course not.Learn to GovernDhillon thinks âonly a generalist with rich experience in public administration can visualise, see through, and articulate macro perspectives. Besides, she has sufficient experience of working at the village, district and state level. She understands how policies are implemented and the shortcomings of various policies.âDoubtless, grassroots experience can be a huge advantage, especially in district-level administration. But it can also be a huge disadvantage, since minute expertise on existing local conditions can blind you to the vast universe of possibilities demonstrated across the globe.Inderjit Singh, a former World Bank economist, once described his interactions with Chinese and Indian officials.âIndians believe they already know everything.They want the World Bank to hand over money without asking questions. The Chinese, however, see the Bank as a source of global knowledge.They are acutely aware that their own experience is a limitation, and that they must learn from the rest of the world.â That sums up why the Dhillons of India have been left far behind by their Chinese counterparts.Dhillon says âlateral entries have been made in the past by previous ruling establishments. They havenât been successful experiments. The whole experience of inducting private sector âmanagersâ has been far from satisfactory when it came to âmanagingâ the public sector. To be specific, examples include Air India, Indian Airlines, Vayudoot, etc.âThis leaves one gasping with astonishment. Did public sector white elephants fare any better under IAS CEOs?The success of lateral economist entrants listed in this column speaks for itself. Homi Bhabha, M S Swaminathan, VKrishnamurthy, Sam Pitroda, Raghuram Rajan and other lateral entrants performed far better than their IAS predecessors.Arvind Subramanian said on leaving the government that India must aim to get the worldâs best to improve the administration. It must not rely on a handful that passed a UPSC exam decades ago. Ten posts for lateral entry is a good start, but must be expanded to hundreds. In Focus: PNB, UltraTech, RCom among stocks to track today NEW DELHI: The domestic stock market is likely to see a positive start on Wednesday, tracking firm global cues and Nifty futures on the Singapore Stock Exchange (SGX). Here is a list of top stocks that are likely to be in focus in today's trading session:UltraTech Cement, RCom: Reliance Communications, UltraTech Cement, Mindtree and Bandhan Bank will report their quarterly numbers during the day. Mastek, JK Tyre, NIIT Tech, JM Financial and Mahindra CIE Automotive will be other companies to announce there first quarter numbers during the day.Idea Cellular: The Department of Telecommunications (DoT) has rejected Vodafone India and Idea Cellularâs requests to recalculate their dues, saying its numbers are fine and that Indiaâs second- and third-ranked telcos should pay up to get a final seal of approval on their merger at the earliest.Punjab National Bank: The PSU bank, which has been staring at a default on interest payments, has received conditional approval from the Reserve Bank of India to pay interest on its perpetual bonds that are due next week, said two senior officials aware about the development.HDFC: The initial public offering of HDFC Mutual Fund will hit the market on July 25. The price band for the issue has been fixed at Rs 1,095-1,100 per share Through the IPO, HDFC, the housing finance major , is selling 4.08 per cent of its stake in the fund house. PSU bank stocks: The government has approved capital infusion of Rs 11,336 crore in five public sector banks, including scam-hit Punjab National Bank, Corporation Bank and Andhra Bank, to help them meet regulatory capital requirements. IDBI Bank: IDBI Bank would seek its majority shareholder Government of Indiaâs (GoI) go-ahead to facilitate state-run insurer Life Insurance Corporation of Indiaâs (LIC) purchase of a majority stake in the bank as it begins a new journey with a new focus and management strategy under a former SBI executive.Zee Entertainment: The company on Tuesday said its profit after tax (PAT) rose 31.4 per cent to Rs 326.40 crore for quarter ended June 30. The media company had reported Rs 2,484 crore profit in corresponding quarter last year. Operating revenue for the quarter rose 15 per cent to Rs 1,772 crore compared with Rs 1,540.30 crore in the year-ago quarter.PNC Infratech: The company has signed concession agreement with NHAI for implementation of project of Four Laning of Challakere to Hariyur section of NH 150 A, in the state of Karnataka on Hybrid Annuity Mode.Crisil: The rating agency reported a 14.7 per cent rise in post-tax net for the June quarter at Rs 77.13 crore. The unit of global ratings major Standard & Poor's had reported a net profit of Rs 67.25 crore in the year-ago period.Jet Airways: The aviation company has placed an additional order for 75 jets of Boeing "737 MAX 8" aircraft during the 2018 Farnborough International Airshow. Coal India: Nomura has upgraded the ratings of Coal India to buy with a target price of Rs 318 citing a 3-4 per cent rise in fuel supply agreement realisation and a 15 per cent rise in e-auction realisation. Medium-term prospects of a 6-7 per cent year-on-year offtake, relatively stable blended realisation and a check on cash cost of production suggest a reasonable investment case in Coal India, said the brokerage. ICICI Lombard General Insurance: Private sector nonlife insurer ICICI Lombard General Insurance posted a 35per cent increase in net profit to Rs 289 crore in the first quarter of the financial year ended June 30, 2018, due to lower expense ratio and an improvement in risk selection. During the same quarter last year, the company had reported a profit of Rs 214 crore. Rallis India: The company has reported net profit of Rs.54.58 crore for the June quarter compared with Rs.45.25 crore in the same quarter last year.Textile stocks: The government has doubled import duty on over 50 textile products â" like jackets, suits and carpets â" to 20per cent, a move that is aimed at promoting domestic manufacturing. The Central Board of indirect Taxes and Custom (CBIC) on Monday notified list of textile products on which duties have been hiked to 20per cent. Sugar stocks: The Union Cabinet will on Wednesday consider a proposal to increase the minimum price that sugar mills are required to pay to cane growers by Rs 20 to Rs 275 per quintal for the next marketing year starting October, according to sources.IPO WATCH TCNS Clothing IPO to kick off todayTCNS Clothing, the owner of Aurelia, W and Wishful brands, will kick off its Rs 1,125-crore initial share sale on Wednesday. The issue of 15,714,038 shares will be offered in the Rs 714-716 price band. Bids could be made for a minimum lot of 20 shares and in its multiples thereafter.
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Wednesday, July 18, 2018
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