Tesco and it’s strategic changes during the ‘ Dave Lewis era’

Tesco is a multinational retailer company which was established in 1919 by Jack Cohen with its headquarters in the United Kingdom, being one of its ‘Big Four’ retailers. Tesco is known for implementing strategies that are effective in developing competitive advantages to acquire customer satisfaction. Tesco faced a major downfall in the year 2014 when it’s market share fell from 28.6% to 28.4% due to the growth of discounters and online retailers.
In the year 2014, Tesco’s chief Philip Clarke quit his job due to profit warning with r-£10m package after failing to halt slumping sales. After which Dave Lewis who led Unilever’s personal care business became the chief executive of Tesco in 2014. Tesco which was in dire need for a change expected Lewis whom they described as “responsible for a number of business turnarounds” to make their company’s strategies effective.
Tesco’s strategy analysis:

Lewis followed what Leahy, the former CEO of Tesco promoted profoundly, which was to put the customer first. This is very much evident in the 2015 strategic report of Tesco which quotes ” The champion of customers”. Lewis believed that small actions sum up to big differences with “every little helps”.

Lewis set top three priorities to get Tesco back on track. Firstly they set a goal to regain their customers focusing on four things – service, range, availability and price.There are three reasons companies should work on regaining it’s customers. Firstly because customers seek their services and have helped them have a stand in the market and not just any name on a cold call list. Secondly because they know the company better and treating them well decreases the marketing cost. Thirdly , with the improvement In technology and customer databases, it is easier to collect information on customer behaviour to the company’s services to build better successful offers and identify the profitable defectors. Tesco with the aim of regaining their customers invested in 4,652 new colleagues to improve services for them, reviewed their ranges across categories, increased the availability of products and made their prices stable, low and affordable by which they were able to attain the response of their consumers.
Secondly the company sort to protect and strengthen its financial stand as since they had a debt with with total leverage of £22bn .A difficult financial position of a company can be threatening to the existence of a company for which few measures have to be taken to recover from the crisis and obtain a state of balance for which the financial position has to evaluated which involves restructuring or making a change in its of its financial strategies. In order to revive from its crisis Tesco strengthened it’s capital spending by reducing their capital expenditure to £1bn, replaced their pension schemes and reviewed their profit portfolio by completing an asset swap with 21 British superstores to gain ownership and to increase the promotion of the stores they own.
Thirdly, Tesco strived to rebuild and improve their trust and transparency for which they set up a new management system to create long term, mutually beneficial partnerships with their consumers and suppliers in order to focus on cost prices. Suppliers help turn the ship around during tough times and companies need the help of their suppliers to have a turnaround in business for which they need to treat their suppliers fairly since the happiness of the supplier is vital to the success of the buyer. Tesco also created a new code of business conduct and to shift their focus on a more ethical and speak up culture .A study by Label Insight found that 94 percent of consumers were likely to be loyal to a brand if it is transparent and about 73 percent said that they would even pay more for a completely transparent product.
In the following year after Tesco had worked on regaining their customers the year seemed to be a transformational year for Tesco with their business on a road to recovery said Alan Stewart, the chief financial officer of Tesco. Tesco went on to adopt strategies for which it advanced it’s turnaround priorities. Tesco chose to regain their competitiveness in the market for which it improved the shopping experience by making easier shopping trips, better availability of goods and stable prices for the consumers which led them to regain their competitiveness with positive volume growths up-to 3.3% and transactions up-to 2.8% in the fourth quarter.

Stabilizing and driving Tesco forward:
Tesco encountered progress in its three priorities which Lewis put forth initially when he became the CEO. To ensure a stable long term horizon, Tesco enhanced six strategic drivers to enhance their competitiveness in the market.

Tesco’s six strategic drivers :

A differentiated brand:
2017-“Food love stories brought to you by Tesco” campaign
2018-Swaps with products that are lower in saturated fat, salt and sugar
2019-One hundred years of great value campaign
Reduce operating costs by £1.5bn:
2017-Generated £455m of cost savings, of which £226m contributes to the £1.5bn target.
2018-Delivered £541m of savings; logistics and distribution, with £104m of savings; and goods not for resale, making savings of £174m.
2019-Delivered in-year cost savings of £532m, with £1.4bn of savings.
Generate £9bn cash from operations:
2017-Generated £495m of retail operating cash
2018-Generated £2,773m of retail operating cash
2019-Generated £2.5bn of retail operating cash.
Maximise the mix to achieve a 3.5% – 4.0% margin
2017-driving growth in areas which deliver sustainable profits – in order to achieve a 3.5% – 4.0% Group operating margin
2018-Group operating margin for this year was 2.9%.
2019-Group operating margin was 3.79%.
Maximise value from property :
2017-Optimisation of freehold and leasehold mix.
2018-£1.4bn of value from property proceeds. 52% increase in freehold property in UK and ROI
2019-£285m of value from our property portfolio across the Group.
Innovation :
2017-Payquik digital wallet
2018-Tesco now app
2019-New brand – Jack, Thailand convenience proposition.
From the above data it is evident that the strategic plans used by Lewis has been effective for Tesco leading to its current strategic position.

Tesco’s business strategy is proven to be fit as it justifiably fits into three of these four categories – consistency, consonance, advantage and feasiblity.
Consistency :
Consistency must be followed between the organizational objectives a d the values of the company. It is impossible to have a successful strategy without consistency among the departments within the company. A business will be consistent only of the internal and external goals are aligned. Under Lewis’ strategical supervision Tesco was stabilizing and driving forward with a consistent business environment. This is evident from the strategical reports of Tesco from the year 2015-2019.
Consonance:
According to Rumelt “The strategy must represent an adaptive response to the external environment and to the critical changes occurring within it”. Lewis also was keen on creating value for his stakeholders (consumers, colleagues, suppliers and shareholders) . With the increase in the value for their stakeholders, Tesco created a 93% customer liking products which were exclusively at Tesco’s, 80% of the employees who were motivated by their purpose, an annual quantum sales of over £1bn and Diluted EPS of 15.4p . Lewis therefore established a compatibility between opinions and actions which led to the success of his strategies.
Competitive Advantage:
The strategy must provide for the creation and/or maintenance of a competitive advantage in the selected area of activity. Creation and maintenance of competitive advantage was created by the strategies created by Tesco. For maintaining this advantage Tesco created six key performance measures which included growing sales, delivering profit, improving operating cash flow, satisfaction of customers, providing power to colleagues and building trusted partnerships. With this simplification in the main performance indicators Tesco achieved the ‘advantage’ with 11.3% group sales, 33.5% operating profit, 9.8% retail operating cash flow and 77.5% of group supplier satisfaction.

Supply chain management :
Dave Lewis followed the supply chain management to make Tesco stable. A shift was made from a push to a pull in the supply chain with customers gaining more power in the marketing channel. Information systems gained more power and eliminated unnecessary inventory and he focused equally on both core and non core activities and increased its outsourcing. An effective supply chain management supply chain management with flexible organisations helps respond to customers faster ensuring profitability which is what Tesco under Lewis followed.


When Lewis became the CEO “There was no credible chairman or non-executives and colleagues were about to be prosecuted” said Clive Black. Now “The retailer’s departing boss did not solve all its problems. But the stable operation he leaves behind was in turmoil in 2014”.
In the year 2014 when Lewis joined Tesco as its CEO, an article by the guardian was written titled “We know Dave Lewis can sell soaps. Can he really run Tesco? “. The answer to that is a definite yes since he stabilised the company from its series of profit warnings and 33% share price drop to the success that Tesco is facing today and has definitely been this ‘Drastic Dave’ who back in Unilever was known for his ruthless approach to job cuts and excellent marketing strategies. He has followed this legacy even in Tesco.


Open Letter To Real Heroes.

    
        Dear Doctors, while everyone trying to save themself first, you are out there and saving lives. Aren’t you scared!? I mean you have families too, you have to take public transport as well and you have to interact with people most of are really sick! And that’s why I take a moment to say Thank You…. Thank you for doing such a good hobby identifying cases at early stage. People must be scared! People must be paranoid! Because they haven’t seen such crisis in their entire life! And even you haven’t seen either. And yet you are out there day and night facing the crisis. And that’s what makes you our Heroes..!

        Dear Cleaners, Thank you for keeping our hospital extra sanitized. You keep our broads clean, you keep our buses, our trains, our bridges with spit stains. Your work kills 99% germs and yet your work is 99% invisible and that’s what makes you our Heroes..!

        Dear Air India, Thank You for going to Wuhan not only once but twice to bring back 600+ Indians. Thank You because nobody in the crew denied this duty. They took the necessary precautions and brought back our people.
        Dear Airforce, Thank You for bringing back 76 Indians and 36 Foreigners from Wuhan. Thank you for liter saving lives of 38 Indians from Iran and even more countries like Maldieves, Saudi Arabia and Italy. You have proved that you value every single life and that’s what makes you our Heroes..!
       Dear Airports Thank You for starting the thermal screening since January. When everybody busy forwarding jokes thank you for taking it seriously. India is one of the major countries which took our this early measures to more that 2.5 lakh+ people getting screened at the airport every single day. I can’t even imagine how difficult it must be to maintain all those records of all those different people to make sure that they are not sick. And it’s very very difficult job and you are doing it. And that’s what makes you our Heroes..!
        Dear Police, the whole world is facing a crisis but you are out there doing your job and mantaining law and order. You will wear masks and go out there knowing all those risks trying to keep us safe! This applies to all the defence forces as well. And that’s what makes you our Heroes..!
        And lastly Dear Indians, all those who don’t have the liberty to work from home. The people who deliver newspaper, the people who sit in the markets, the people who delivers medicine, bankers, motormen, bus drivers, ambulance drivers. Everyone who literally serve the country. I want to Thank You from the bottom of my heart because of you India is still moving and when we get out of this crisis then it will be because of ONE REASON! It will be because of you.
        There are so many people keeping us safe, please don’t over burden them with your carelessness. We can’t really pay them back for what they are doing now but least we can do is follow the values. Avoid traveling if it is not emergency. That’s a way of acknowledging their efforts and that’s a way of saying Thank You. It’s important to say this right now because we take these people for granted but at the time of crisis we actually understand that we are because they are! These people are our real heroes and because they guys go to work its made huge difference….
                               ThankYou

Management of Currency Printing in India

For a common person, money simply means currency and coins. This is so because in India, the payment system, which includes credit cards and electronic cash, still revolves mainly around currency and coins, especially for retail transactions.

Currency Basics

Coins –

Coins in India are presently being issued in denominations of one rupee, two rupees, five rupees and ten rupees. Coins in the denomination of 1 Paise, 2 Paise, 3 Paise, 5 Paise, 10 Paise, 20 Paise and 25 Paise have been withdrawn from circulation with effect from June 30, 2011 and are, therefore, no more legal tender.

Currency –

Banknotes in India are currently being issued in the denomination of Rs 10, Rs 20, Rs 50, Rs 100, Rs 200, Rs 500 and Rs 2000. These notes are called banknotes as they are issued by the Reserve Bank of India (Reserve Bank). The printing of notes in the denominations of Rs 2 and Rs 5 has been discontinued as these denominations have been coinised.  Government of India wide their Notification no. 2652 dated November 8, 2016 have withdrawn the Legal Tender status of Rs 500 and Rs 1,000 denominations of banknotes of the Mahatma Gandhi Series issued by the Reserve Bank of India till November 8, 2016. Currency paper is composed of cotton and cotton rag.

The highest denomination note ever printed by the Reserve Bank of India was the ₹ 10000 note in 1938 and again in 1954. These notes were demonetized in 1946 and again in 1978.

What is the role of the Reserve Bank of India in currency management ?

The Reserve Bank derives its role in currency management from the Reserve Bank of India Act, 1934. The Reserve Bank manages currency in India. The Government, on the advice of the Reserve Bank, decides on various denominations of banknotes to be issued. The Reserve Bank also co-ordinates with the Government in the designing of banknotes, including the security features. The Reserve Bank estimates the quantity of banknotes that are likely to be needed denomination-wise and accordingly, places indent with the various printing presses. The aim of the Reserve Bank is to provide good quality notes to members of public. Towards this aim, the banknotes received back from circulation are examined and those fit for circulation are reissued and the others (soiled and mutilated) are destroyed so as to maintain the quality of banknotes in circulation.

Generally, the central bank of a country manages the currency of economy. In India RBI manages it with the advice of Government of India. The Reserve Bank derived its role in currency management on the basis of the Reserve Bank of India Act, 1934. Currency management essentially relates to issue of notes and coins and retrieval of unfit notes from circulation. This work is performed through 18 issue offices of the Reserve Bank and a wide network of 4195 currency chests, 488 repositories and 3562 small coin depots managed by banks and Government treasuries.  

RBI has authorized selected branches of banks called Currency chests, to facilitate the distribution of notes and rupee coins. The currency chest branches are expected to distribute notes and rupee coins to other bank branches in their area of operation. Department of Currency Management (DCM) receives notes from four currency note printing presses. Two of the currency note printing presses are owned by the Government of India and two are owned by the Reserve Bank, through its wholly owned subsidiary, the Bharatiya Reserve Bank Note Mudran Ltd. (BRBNML).   

The government owned presses are at Nasik and Dewas. The other two presses are at Mysore and Salboni. Coins are minted in four mints owned by the Government of India. The mints are located at Mumbai, Hyderabad, Calcutta and Noida. As per the minimum storage method RBI can issue any amount of currency which is more than at least 200 crore gold and foreign currency. In this at-least 115 crore will be in the form of gold. The Reserve Bank decides the volume and value of banknotes to be printed each year. The quantum of banknotes that needs to be printed, broadly depends on the requirement for meeting the demand for banknotes due to inflation, GDP growth, replacement of soiled banknotes and reserve stock requirements by using statistical models/techniques.   

Notes and coins of all the denominations are issued by RBI except for the Rupee one coin because the Government of India derives authority to issue Rupee coins from the Coinage Act. As such the rupee coins issued by Government constitute the liabilities of the Government. The Government of India decides the quantity of coins to be minted on the basis of indents received from the Reserve Bank. RBI can print as much money as they want after considering the above mentioned facts. In fact, countries do resort to printing money, or what is known as Quantitative Easing, a term that became popular just after the recession. But, that measure is only for extreme situations, and is also considered dangerous because printing money causes inflation in an economy, too much printing of money will cause hyperinflation also.   

Printing money reduces the value of your currency. Inflation reduces the value of domestic securities making international investors leave the economy. Thus central bank cannot print any amount of money and distribute among poor to make them rich. If the overall supply of goods and services is not commensurate to the money supply increased, price of products will rise by the amount of extra currency printed. If that money is used for financing imports, the domestic currency will depreciate in the foreign exchange market. During slowdown, banks do resort to infusing fresh currency, but such techniques in normal will adversely affect the economy. Since currency in today’s world is not backed by the gold, its effect will be more drastic on the economy. Thus, there is no such thing as a free meal and printing money doesn’t have any effect on increasing real output / real income.    

HUMAN RIGHTS JURISPRUDENCE ‘THE INDIAN CONCEPT’

INTRODUCTION

A right is not a claim or demand but something which is not wrong. Natural Rights Theory as propounded by John Locke calls rights as pre-political which were available to man in his state of nature. These three human rights of life, liberty and estate were ensured to individuals by virtue of the ethical code of mutuality and moral order. The effort to safeguard, protect and promote basic Human Rights continues in every generation in every civilization. New rights arise from the roots of the old. Today we have broadened the field of Human Rights thought and action to new areas and population. The development of Human Rights and then recognition and protection is done with the support of Jurisprudence.

WHAT ARE HUMAN RIGHTS?

“The core of human rights discourse is that it is a right to which only human beings are entitled, which gives meaning to the essence of humanity, and without which humanity necessarily loses those special attributes that make it human”. Ajomo had earlier defined human rights in similar terms inter alia: “human rights are inherent in man; they arise from the very nature of man as a social animal. They are those rights which all human beings enjoy by virtue of their humanity”.

According to Joel Feinberg, “Human Rights as moral rights held equally by all human beings, unconditionally and unalterably” For Feinberg Human Rights are moral claims based on primary human needs.[1]

 Human rights are those liberties, immunities and assistance by which, through accepted contemporary values, all human beings should be able to demand the rights in the society which they live.

Human Rights are inherent rights which are made for protection, safeguard and development of humans all over the world and these rights cannot be waived off on someone’s will or whim. As said by some American Attorney, “If you remove them from any human being, he will become less than human. They are part of the very nature of a human being, and attach to all human beings everywhere in all societies, just as much as do his arms and legs.”

Human Rights are also defined as moral rights which every human being ought to have every time and everywhere which contrasts a being as moral and rational than the other. In other words, idea of human rights familiarize with morality and rationality but can be said as limitation or challenge to this definition, are new born, infants, juvenile, lunatics. These humans have rights but they lack sense of morality and rationality.

WHAT IS JURISPRUDENCE?

Jurisprudence originated from the Latin word ‘Juris-prudentia’, whereby ‘juris’ means law and ‘prudentia’ means skill or knowledge. Therefore, jurisprudence is skill or knowledge of law and its application. It covers the whole body of legal principles in the world. It deals with those relations of human and society which are regulated by law. It is a normative evaluation of basic legal values and ideas which impart validity and recognition to legal system.

 It is conceptional analysis between law and socio-political society, which provides significance to the legal system. Rapid changes in this progressive society has given birth to new issues and dynamic law, has lead to evolution of jurisprudence. In other words, evolution of society brings changes in the law to tackle the problems through pragmatic approach has given rise to functional jurisprudence i.e. law and justice.

Professor Gray defined, “Jurisprudence more or less in the same manner. He opined that jurisprudence is the science of law, the statement and systematic arrangement of the rules followed by the courts and the principles involved in these rules.”

HUMAN RIGHTS JURISPRUDENCE

Human rights are described as inalienable, fundamental, God-given etc. the basic purpose is that these rights are not created by constitution and other codes or any supreme authority but they have to declare and preserve those rights. This can be also said as human rights can exist as shared norms or human moralities which are supported and protected by strong reasons or as legal rights of a person.

Incidentally, human right generate from the realistic insight of ancient and medieval humanism. In the classical literature of
Prehistoric Greece from 5th century B.C. we come across a striking expression of the belief in the power exercised by the gods on human community which was based on law. According to the Ancient Greece writers, the god establishes a law which stand above the duties and prohibitions imposed by the rules of the community.

In Roman law there was dissimilarity between national law (jus civile) and the common law to all nations (Jus gentium). ‘Jus natural’ was the law of nature which is fixed and unchallengeable, higher to all human laws derived from the dictates of right reason.

In middle ages, a number of Acts were enacted to show the superiority of Human Rights. The principle of the Habeas Corpus Acts latent in the 39th clause of Magna Carta was acknowledged already in 1188 by Alfonso IX. Charters of liberty are steps towards the realization and implementation of Human Rights. Magna Carta of 1215, Petition of Rights of 1628; Habeas corpus Act of 1679, Bill of Rights of 1689 are some of such steps taken in England.

THE INDIAN CONTEXT

According to D.D. Basu, “Human Rights as those minimal rights which every individual must have against the State or other public authority by virtue of his being a member of the human family, irrespective of any other consideration”[2]

Development of jurisprudence and legal theory in India owes as much to ancient hindu legal thinkers as it owes to western jurists and legal philosophers. The ancient Indian legal thinkers expounded their own indigenous legal system which was based on sound principles of reasoning and human wellbeing and excelled in many respects from other legal systems of the world. Commenting on ancient Indian jurisprudence, Mayne observed:

“Indian law has the oldest pedigree of any known system of jurisprudence, and even now it shows no sign of decrepitude. At this day it governs races of men, extending from Kashmir to Capecomorin, who agree in nothing else except their submission to it.”

ANCIENT HUMAN RIGHTS JURIPRUDENCE

The positive law embodies certain values which holds universal validity, like Dharma (righteousness), Artha (wealth), Kama (desires), Moksha (salvation) were expounded by ancient Indian philosophers and thinkers years ago with a view to establish a cordial social order by striking a balance between inner and outer, spiritual and material aspect of life.

“Dharmasastras” and the “Arthasastras” and other legal treatises of the history have revealed an incredible system, which regulates the duties of Kings, judges, subjects and judicial as well as legal procedures. The ancient concept of Dharma enabled citizens to inculcate sense of discipline in conducting themselves in society. The message is “Dharma” as the absolute value, which fastens kings and citizens, men and women.

Human rights achieve meaning only when there is an independent judiciary to enforce rights. The administration of justice always remained separate from the executive; it is as a rule independent in structure and spirit. It was the Hindu judicial system that first realized and acknowledged the significance of the separation of the judiciary from the executive and gave this fundamental principle a realistic shape and form. The case of Anathapindika v. Jeta descript in the monastic rules of vinaya pitaka,’ is an unblemished demonstration of this principle. According to it, a Prince and a private citizen submitted their cases before court of law and the court decided against the Prince. The Prince accepted the decision as a matter of course and as binding on him. The evolution of the principle of separation of the judiciary from the executive was largely the result of the Hindu conception of law as binding on the sovereign.

As Nagendra Singh remarks, “The individual in ancient India existed as a citizen of the State and in that capacity he had both rights and obligations. These rights and duties have largely been expressed in terms of duties (Dharma) – duties to oneself, to one’s family, to other fellowmen, to the society and the world at large. The basis of ancient human rights jurisprudence was Dharma – the ideal of ancient Indian legal theory was the establishment of socio-legal order free from traces of conflicts, exploitations and miseries. Such a law of “Dharma” was a model for the universal legal order.”[3]

MODERN HUMAN RIGHTS JURIPRUDENCE

With the progress of Indian Society, Constitution of India came into force on 26th January 1950 with 395 Articles and 8 Schedules which is one of the most elaborate fundamental laws ever adopted. The Preamble to the Constitution declares India to be a Sovereign, Socialist, Secular and Democratic Republic. The term ‘democratic’ signifies that the Government gets its authority from the spirit of the people. It gives a feeling that they all are equal “irrespective of the  race, religion, language, sex and culture.” The Preamble to the Constitution pledges justice, social, economic and political, liberty of thought, expression, belief, faith and worship, equality of status and of opportunity and fraternity assuring the dignity of the individual and the unity and integrity of the nation to ail its citizens. With this evolution citizens are also expected to be self restrained and self disciplined and also conscious about their rights and duties.

The Indian Constitution in its Chapter Third envisaged seven fundamental rights with several Directive Principles for the establishment of a welfare polity in India. The 44th Amendment reduced them to six and accepted right to property as a mere legal (not fundamental) right of the citizen.

Similarly, several directives have been accepted as fundamental in the governance of the country. The rights to information, primary education and pollution free environment have come on the periphery of fundamental rights. As democracy matures in India, the judiciary is increasingly insisting on the development of human rights jurisprudence and the legal implementation of social legislation for the attainment of human rights in India.

Protection of Human Rights Act, 1993 there are certain legislations which directly or indirectly protect the Human Rights and Fundamental Freedoms of mankind in multidimensional approach. All these are in accordance with the mandate of Human Rights instruments as well as in accordance with the Constitutional provisions.

The Indian Constitution is a document rich in human rights jurisprudence. This is an elaborate charter on human rights ever framed by any State in the world. Part 3 of the Indian Constitution may be characterized as the ‘Magna Carta’ of India. The Judiciary in India plays a significant role in protecting human rights. The Indian Courts have now become the courts of the poor and the struggling masses and left open their portals to the poor, the ignorant, the illiterates, the downtrodden, the have-nots, the handicapped and the half-hungry, half-naked countrymen.

CONCLUSION

The concept of Human Rights Jurisprudence in India is prevalent from the ancient time and continues. There are certain legislations, which directly or indirectly protect the Human Rights and Fundamental Freedoms of humankind in multidimensional approach. All these are in accordance with the consent of Human Rights instruments as well as in accordance with the Constitutional Provisions.


[1] Joel Feinberg, “Social Philosophy”, 1973, Prentice Hall, N.J p. 85

[2] D.D Basu, “Human Rights in Constitutional Law”, 1994, Prentice Hall, Delhi, p. 5

[3] S.N. Dhyani, Fundamentals of Jurisprudence: The Indian Approach (Allahabad: Central Law Agency, 1992) Pg.79.

ENVIRONMENT IMPACT ASSESSMENT (EIA)

Definition of Environment Impact Assessment:

The International Association for Impact Assessment describes an environmental impact assessment as “a mechanism to determine, forecast, evaluate and mitigate the biophysical, cultural and other related effects of development initiatives prior to the adoption of major decisions and commitments”.

“A systematic process of identifying future consequences of a current or proposed action.” The process is- Transparency, Certainty, Participation, Practicability, Electricity, Cost effectiveness, Credibility, Accountability.

The Finnish International Development Agency (FINNIDA)[1], have defined Environment Impact Assessment in the most innovative way in following ways:

1. The Environment Impact Assessment may be defined as a planning tool which is used, together with the project feasibility study to ensure that, the project plan is the optimal economic. Environmental plan, i.e. the plan is environmentally as well as economically sound and thus represents the best approach to planning for development projects in order that continuing economic development will be sustainable. The essential message of the famed UN Brundtland Report of 1987 is that, the only sustainable development is economic-cum-environmental development;

2. The Environment Impact Assessment is not intended to disrupt nor to impede economic development, a project plan which is economic cum-environmental will have a higher benefit/cost ratio than a plan which is not responsive to environmental needs, especially when long term as well as short term effects are considered;

3. The role of Environment Impact Assessment is not just to identify and describe environmental hazards which a proposed project will likely cause if no EPM (Environmental Protection Measures) are included in the project. Rather, the Environment Impact Assessment should specify the necessary EPM and ensure that these EPM are included in the overall project plan as delineated by feasibility study.

Need for Environment Impact Assessment:

Every anthropogenic activity has some impact on the environment, but these activities cannot be stopped, because human beings cannot survive, without taking up these activities for his food, security and other needs. Environment Impact Assessment (EIA) is one such tool available with the planners to achieve the concerned goal.

Principle 17 of Rio Declaration, 1992 also requires the states to follow EIA. It states as follows:

“Environmental Impact Assessment, as a national instruments shall be undertaken for proposed activities that are likely to have a significant adverse impact on the environment, and are subject to a decision of a competent national authority.”[2]

The objective of Environment Impact Assessment (EIA) is to foresee the potential environmental problems that would arise out of a development address them in the projects planning and design stage.

The objectives of EIA described by Council of European Economic Committee are as follows:

“The effects of the project on the environment must be measured in order to take into account issues related to the security of human health, to contribute to the quality of life through an improved environment, to safeguard the diversity of species and to preserve the reproductive potential of the ecosystem as a basic resource of life. According to the EIA, the safest environmental strategy is to avoid negative consequences rather than seek to mitigate them subsequently.”[3]

By using Environment Impact Assessment (EIA) both environmental and economic benefits can be achieved, such as reduced cost and time of project implementation and design, clean-up costs and impacts of laws and regulations.

Origin of Environment Impact Assessment:

The technique of EIA finds its origin from the “precautionary principle” which requires refusal of consent or approval of the developmental activity by the competent authority, if such project poses threat of serious or irreversible environmental damage. To determine the serious or irreversible nature of the environmental effects on the developmental activity, EIA is necessary. The precautionary principle’ mandates that the EIA should be made obligatory for developmental activities which are likely to have significant adverse effect on the environment. In case, EIA reveals that the developmental activity poses threat of serious or irreversible environmental damage, the competent authority must withhold the consent for approval or permission to such activity.

The ‘precautionary principle’ mandates that EIA should be carried not only at the time of commencement of the developmental project development during the operation of the project. EIA involves continuing assessment and evaluation of the environmental effects on the developmental projects as the project is in operation and is not confined to pre-project evaluation of possible environmental effects.

India and Environment Impact Assessment:

EIA, in India started in 1976–77 as the Planning Commission asked the Science and Technology Ministry of the period to examine the projects in the river valley from an environmental point of view. This was subsequently extended to cover those projects which required approval of the Public Investment Board (PIB), but as these were only administrative decisions and lacks statutory backing the Government decided to give it statutory backing under Environment (Protection) Act, 1980. Thereafter, a notification in this regard was issued on 27th January 1994 under the Environment (Protection) Act, 1986 which was subsequently amended on 4th May 1994, 10th April 1997, 27th January 2000 and September 14, 2006 making environment impact assessment (EIA) mandatory for 30 activities. Some practices allowed under the Coastal Regulation Notification Zone 1991 also entail clearance.

Further, Government notifies, from time to time, certain areas in the country as ecologically sensitive and developmental activities to be taken up, these areas are regulated as per the provisions of these notifications. Such as include Coastal Regulation Zone, Doon valley, Murud-Janjira, Dahanud, Namaligarh, Taj trapezium and Aravalli ranges in Gurgaon (Haryana) and Alwar (Rajasthan) districts. Activities to be conducted in forest areas are administered by Forest (Conservation) Act and Wild Life Protection Act.


[1] Guidelines for Impact Association in Development Assistance, Finnish International FINNIDA’s Draft, 1989.

[2] https://www.iaia.org/wiki-details.php?ID=4

[3] “EEC Directive dated 27 June 1985, 85/337/EEC of 27 June 1985 OJL 175/40, 5 July 1985.”

POVERTY ‘s POV :INDIA

WE ARE LIVING IN A DEVOLOPING COUNTRY , INDIA , HAVING ALL THE SHADES OF LOSSES AND GAINS DESCRIBING OUR ECONOMIC STATUS OF THE COUNTRY . WHENEVER WE TALK OF POVERTY , THE FIRST CHARACTER CAME IN TO OUR MIND IS A ‘POOR’. BUT , IS POOR ANOTHER WORD FOR POVERTY ? , ARE THESE WORDS SIMMILAR TO EACH OTHER ? . THE ANSWERE IS A BIG NO ! , THESE TWO TERMS ARE DIFFRENT ALTOGETHER. POOR ARE THOSE WHO HAVE LITTLE OR NO POSSESIONS OR MONEY TAKEN AS A GROUP , WHEREAS , THE POVERTY IS THE QUALITY OR STATE OF BEING POOR OR INDIGENT WANT OR SCARCITY OF MEANS OF SUBSISTENCE INDIGENCE NEED . IN SHORT , POOR IS THE PERSON AND THE POVERTY IS THE STATE OF THAT PERSON .

DO YOU THINK ‘POVERTY’ IS LIMMITED TO THE POOR PEOPLE ? OR IS IT MORE THAN THAT ? . THIS TIME THE ANSWERE IS YES ! , IT IS MORE THAN THAT , IT IS MUCH WIDER TERM THAN WHAT YOU ARE THINKING NOW . THE IDENTIFICATION OF THE POVERTY IS DONE BY SOME ELEMENTS ,MALNUTRITION , HIGH LEVEL OF INFANT , MATERNAL MORTALITY , THE INCIDENCE OF DISEASES LIKE CHOLERA , TYPHOID AND MALARIA .FIRST , LETS TALK ABOUT PUBLIC HEALTH , THE SECTOR WHICH IS NOT GIVEN MUCH IMPORTANCE , BUT , THIS SECTOR IS HIGHLY PROMINENT . THE EVIDENCE OF THIS IS SEEN BY US IN ‘COVID-19’ , HOW OUR HEALTH INFRASTRUCTURE IS AND EARLIER , NO INVESTMENTS WERE MADE IN THIS SECTOR , NOW FUNDS ARE ALLOCATED FOR THE INVESTMENT IN THIS SECTOR AND IT IS BOOSTED WITH HUGE INVESTMENTS . THEN , WHY NOT TO DO EVERYTHING 0N TIME ? WHY DO WE NEED TO WAIT FOR OBSTACLE ?.

IN 1923 , POVERTY WAS ONE OF THE GREATEST BARS TO SANITARY IMPROVEMENT . BAD SANITARY CONDITIONS DUE TO WHICH POVERTY AND SICKNESS REACT UPON EACH OTHER AND TEND TO DIMINISH THE VITAL POWER OF THE PEOPLE AND THEIR CAPACITY FOR IMPROVEMENT. PHYSICAL WEAKNESS OF WORKING UNDER AGE MOTHERS , THE INADEQUATE NOURISHMENT OF INFANTS , INSANITORY AND OVERCROWDED SURROUNDINGS ADDING MORE THIS ELEMENT . THE SOLUTION TO THIS IS TO SPREAD GREATER PUBLIC AWARENESS . THERE IS A NEED TO INCREASE AWARE THE PUBLIC ABOUT POVERTY AND SANITATION . ACTIVE SUPPORT CAN BE GATHERED FROM THE INDUSTRIALISTS AND OTHER LEADING EMPLOYERS . BUT , ABOVE ALL , THE FACT BEHIND THE SUFFERING OF POVERTY BY INDIA IS NOT THE BAD SANITARY CONDITIONS BUT THE WORST ECONOMIC CONDITIONS .

IDEOLOGY IS ALSO A CONTRIBUTIONG FACTOR TO THE POVERTY , AS , IN INDIA , PEOPLE ARE MORE CURVED TOWARDS THEIR CULTURES AND ARE EMOTIONALLY ATTACHED TO IT . DUE TO WHICH THEY END UP LOOSING THE PRACTICALITY , DOING THINGS WHICH IS DIMNISHING CHANCE OF INDIA BECOMING A DEVOLOPED COUNTRY . IT IS ALSO ARGUED THAT POVERTY IN INDIA IS PRETTY MUCH DISTINCT FROM WEST . RELIGIOUS CUSTOMS ARE BECOMING THE BARRIER. IT IS JUST THAT WE NEED TO WOVEN PRAGMATISM IN OURSELVES TO MINIMISE POVERTY IN OUR COUNTRY .

OVER GROWING OF POPULATION IS ANOTHER CONTRIBUTING FACTOR TO THE POVERTY INCREASE , HERE COMES THE CHANGE IN THE MEANING OF THIS WIDER TERM . IT IS DESCRIBED BY THE VULNERABILITY OF INDIA DUE TO NATURAL SHOCKS FOR EXAMPLE FAMINES AND PANDEMICS ETC. IN 1903 INDIA FACED THE PROBLEM OF HEALTH AND NUTRITION , AS WE ARE AWARE HOW THESE TWO TERMS ARE CLOSELY BOUND TO THE ECONOMIC ORGANISATION OF THE SOCIETY . NUTRITION IS SUCH A SIGNIFICANT FACTOR , A FOUNDATION FOR HUMAN DEVOLOPMENT , ONLY AN ADEQUATE NUTRITION CAN DO . ERADICATION OF POVERTY WILL ONLY SOLVE THE PROBLEM OF NUTRITION MAKING EVERYTHING FALL IN ITS PLACE.

OVERPOPULATION HAS ALSO LED TO UNEMPLOYMENT IN THE COUNTRY , THERE IS LOSS OF JOBS IN THE COMPANIES , THIS IS LOSS OF JOBS IS ALSO A KIND OF POVERTY , WHICH , THE STATES IN INDIA ARE FACING SPECIALLY KERELA . IN KERELA , THE LITERACY RATE IS THE HIGHEST AMONG ALL THE STATES BUT THE UNEMPLOYMENT HIGHEST ON THE SCALE HAVE YOU EVER WONDER WHY ? BECAUSE THE LITERACY RATE IS THIS MUCH HIGH THAT THE JOBS AVAIBLE DOESN’T SUIT THE QUALIFICATIONS OF THE PEOPLE , THEIR CAPABILITY IS THIS MUCH HIGHER THAT THEY REFUSE TO DO BECAUSE THE JOB IS NOT RIGHT ACCORDING TO THEIR EDUCATION . HOW IT IS CONNECTED TO THE POVERTY ? THE ANSWERE IS HIDDEN IN THIS SET OF WORDS , THE UNEMPLOYMENT IS THE INPUT AND POVERTY IS THE OUTPUT OF THE UNEMPLOYMENT .

POVERTY CAN ONLY BE ERADICATED BY FOCUSING MAINLY ON THE SOCIO – ECONOMIC ASPECTS OF THE COUNTRY.

Why is 9 to 5 the norm?

There are a lot of things that we take for granted in our day-to-day lives. Like maybe you were supposed to be right now even for those of you who are students or business owners, freelancers or part timers, there is no doubt that you in some way work around or are influenced by the 40 hour work week people arrive at work at 9:00 AM. Go home at 5:00 PM Monday to Friday and this is pretty much the standard arrangement among state vast array of professions and equally vast array of countries and companies that why what is going on here. Industry, technology and culture have all drastically changed since this arbitrary figure was introduced. Yet it has stood the test of time. So is 40 hours really the optimal work week? How is this filled out, and are there alternatives that are based more in economics rather than tradition?

The 40 hour work week has not been around forever, so before we start to explore alternatives, it’s important to understand how we got here. Our working lives are mostly determined by the value that we add the concept of having a set job with a contract in a set of expectations is a surprisingly modern concept. Of course, ultimately started from need to literally put food on the table. The days of Hunter gatherers and eventually developed into farming. Most societies that have existed from the Egyptians to Renaissance era Europe. People were primarily farmers. The working hours on a farm are very fluid. There are days and even entire seasons where pretty much nothing needs to be done. Then of course there are times of massive activity around harvesting and planting. But the take away from this is that a 40 hour work week would just not function in this type of environment, and that’s not to say that farmers need to put in more hours, although they definitely do, but it’s more so that clocking in at 9:00 AM and then clocking out at 5:00 PM just wasn’t going to work when animals need to be fed at 5:00 AM and rounding up cattle can take weeks at a time. The other key point is that there is a pretty serious point of diminishing returns on farming man hours, so long as a farmer gets done at what needs to be done, they aren’t going to get much more output from putting in any extra hours. You can’t harvest more week then what is growing in your field and even a 100-hour work week is not going to make a cow grow any faster.

This all started to change of course during the Industrial Revolution all of a sudden workers were moving into industrial settings on mass and into roles where they got out what they put in someone in a glass blowing factory could produce more jars in 12 hours than they could in six hours and a coal miner could dig more coal if they work six days a week rather than five days. So, the pressure was getting more people to work more hours to make more. Output industry at this time was still very labour intensive. The ultimate limitation on output was actually how many hours they could get people to work. This continued on for some time, but slowly and steadily technology did improve. All the while there was tension between the factory owners that control the land and capital and the workers that controlled the labour in the factors of production. If any of these factors went missing, production would stop. Things like labour strikes were kind of bad for everyone, but they were essential in pushing the agenda of workers with limited individual negotiating power. One of the big things that they do in the go she ate Ng was working hours working 14 hour days was great for outlook, but less great for workers sanity and safety, especially when you consider that they were working pretty much around the Clock and in amongst steam powered cast iron meat grinders by the late 1800s US Congress and individual states were starting to pass laws that mandated a maximum 8 hour workday, which sounded great, but of course factory owners lobbied hard against this. They argued that if something took 12 hours of constant work to manufacture, then it would no longer be possible to make.

In the US, and they would be ought to take their business overseas. Sound familiar. This led to most of these laws being built with so many allowances and loopholes it was pretty much business as usual. It’s actually going really make much progress for the next few decades, and it was only turned around by the decision of an unlikely champion of the working man. Henry Ford rolled out the 8-hour working day across all of these factories in 1914, much to the shock of his competition is workers and the government. This is also coming along with a sweeping pay rise to $5 per day, which at the time was pretty significant. The idea behind this was that even workers had more money in their pockets. And more hours in their day they would have more ability to go out and consume up. Until this point, economics was primarily determined by how much could be produced. The bottleneck of society was its industrial potential, but with the rise of heavy industry and production lines, these had shifted to consumption, making all the Ford model Tees in the world was useless. If nobody would buy them and you hours also had some much more tangible benefits for the company, it made them the place to work. Think of it in the modern world working at Google or Goldman Sachs is anecdotally seen as professional Nirvana. In the 1920s that was forward, they were on the cutting edge and they treated it and pay their employees. Well. This meant that they could attract the most experienced technicians, which in the age of production lines were starting to come up more and more important, the profits of the company soon jump from around $30,000,000. A year, two $60,000,000, to get it. This is, of course, due to a variety of factors. Big one was their new pool of experienced and motivated workers. Now, so far all looks like working hours have adapted to the needs of the day. Farm workers worked around farm. Judy’s early industrialists worked around. Early industry and modern industry just worked around modern industry. Office workers are kind of just followed suit so how is it decided that this is how we work? A 40 hour work week has a simple elegance to it. It divides working days neatly into three with eight hours to work. 8 hours of recreation, and 8 hours to sleep and it still has two days off a week for people to go out and be good little consumers. Outside of this the 40 hour work week has kind of mandated the 40 hour work week. If a company is engaged in any type of business to business, relationship is going to need to be able to accommodate deliveries or sales orders. At the time they are processed, which will be between 9:00 and 5:00, but it is easy to tell that this isn’t always the best arrangement, but those of you who work in a normal office environment think on how much of the day is actually spent on task. The figures vary wildly. Study to study an industry to industry, but most research notes that modern office workers only spend about 45% of their working hours on their primary task. The rest is made up of things like lunch and coffee breaks, meetings, distractions, and the infamous task of trying to look busy. Obviously, some of these in celery duties. But in many ways, office workers are a lot more like farmworkers number. How many hours in account? And putting up the office, they’re only going to be able to produce one quarterly report per company per quarter and times between those reports. They might not have anything to do at all. There are exceptions, of course. Things like sales, ad rolls with billable hours can benefit from more time in the office, but that’s not most workers. Most workers have a task they do, and so long as that task is done, they have justified their existence. Now this all causes the first major. The plight of the seasonal worker takes that corporate account again. They will be expected to come into the office 40 hours a week, but for a lot of that time there won’t be much for them to do at all between major reporting dates, there will be a lull in their responsibilities in the same way that farmers had a lull in their responsibilities between planting and harvesting. Of course, as we saw earlier, the farmers would just pull back on their hours during these levels, but accounts can’t really do that if they’re not there from 9 to 5, bosses possible start asking questions during major recording periods. Corporate accountants will be tasked with putting together major reports for investors. Regulatory bodies, or even just the companies I management and those tasks could very easily consume more than 40 hours a week. We refinery is happy to work 70 hour weeks during harvest because they can go back to work in 20 hours a week. Once they’ve done, an accountant might be less thrilled about that arrangement because they will only ever be able to go back to the standard 40 hour week despite overworking the poor accountant. It’s actually very bad for morale. Humans are very outcome driven animals.

Most research notes that people don’t actually mind putting in long hours, which even outcome like presenting or finishing a harvest because they can’t deal a sense of pride. Accomplishment in their work once it’s done, what they do hate is what some time spent doing very little interspersed with peaks of massive stressful expectations.

people’s behaviour deteriorating

The statement linking technology negatively with free thinking plays on recent human experience over the past century. Surely there has been no time in history where the lived lives of people have changed more dramatically. A quick reflection on a typical day reveals how technology has revolutionized the world. Most people commute to work in an automobile that runs on an internal combustion engine. During the workday, chances are high that the employee will interact with a computer that processes information on silicon bridges that are .09 microns wide. Upon leaving home, family members will be reached through wireless networks that utilize satellites orbiting the earth. Each of these common occurrences could have been inconceivable at the turn of the 19th century.

The statement attempts to bridge these dramatic changes to a reduction in the ability for humans to think for themselves. The assumption is that an increased reliance on technology negates the need for people to think creatively to solve previous quandaries. Looking back at the introduction, one could argue that without a car, computer, or mobile phone, the hypothetical worker would need to find alternate methods of transport, information processing and communication. Technology short circuits this thinking by making the problems obsolete.

However, this reliance on technology does not necessarily preclude the creativity that marks the human species. The prior examples reveal that technology allows for convenience. The car, computer and phone all release additional time for people to live more efficiently. This efficiency does not preclude the need for humans to think for themselves. In fact, technology frees humanity to not only tackle new problems, but may itself create new issues that did not exist without technology. For example, the proliferation of automobiles has introduced a need for fuel conservation on a global scale. With increasing energy demands from emerging markets, global warming becomes a concern inconceivable to the horse-and-buggy generation. Likewise dependence on oil has created nation-states that are not dependent on taxation, allowing ruling parties to oppress minority groups such as women. Solutions to these complex problems require the unfettered imaginations of maverick scientists and politicians.

In contrast to the statement, we can even see how technology frees the human imagination. Consider how the digital revolution and the advent of the internet has allowed for an unprecedented exchange of ideas. WebMD, a popular internet portal for medical information, permits patients to self research symptoms for a more informed doctor visit. This exercise opens pathways of thinking that were previously closed off to the medical layman. With increased interdisciplinary interactions, inspiration can arrive from the most surprising corners. Jeffrey Sachs, one of the architects of the UN Millenium Development Goals, based his ideas on emergency care triage techniques. The unlikely marriage of economics and medicine has healed tense, hyperinflation environments from South America to Eastern Europe.

New Banking entity will create jobs in India

On April 1, 2014, the Election Commission (EC) gave approval to the Reserve Bank of India (RBI) to proceed with licensing a third set of private banks. The last time that RBI licensed new banks was between 2003 and 2004 when it decided to let Kotak Mahindra Bank and Yes Bank into the market. It is hoped that the current licensing will help India’s central bank to expand the reach of the Rs 84 trillion banking industry. Last week, the RBI granted bank licenses to Bandhan Financial Services and Infrastructure Development Finance Company (IDFC). There are over 20 companies in the race for new banking licenses and it is said that 1,500 to 5,000 jobs are likely to be created in the next two years for each new banking license awarded by the RBI.  

Some of the areas where extensive hiring is likely to take place are retail banking, credit, technology, operations, branch banking, risk and treasury. And since India is focusing on financial inclusion, jobs are expected to open up in smaller centers. There will be a huge demand for people who have worked in tier 2 and 3 cities and rural areas as they will be able to understand the issues pertinent to financial inclusion. Currently, less than 30 percent of the Indian population has access to bank accounts. So, there is a lot to be done in the banking and financial sectors in India. The rural markets are untapped and by expanding and venturing into these markets, the banking and financial sectors will be able to witness growth and profitability.  

At IDFC alone, there have been key appointments, including that of the group head of new initiatives and the COO – Ajay Mahajan, former banker and financial services entrepreneur has been appointed the group head of new initiatives and Avtar Monga, veteran banker, has been named the COO. These new licenses will give rise to a number of backend jobs too, including those in processing and outsourcing. Every time a new entity is formed, jobs will be created not only in the entity but in other organizations linked to this entity. And this is exactly what is happening with the licensing of new banks.   

It is hoped that with the establishment of new banking entities, the unemployment rate in India will reduce. Reports claim that in the next two years, a number of people working in banks will be retiring and this will increase the demand for employees at various levels. India will witness a sharp increase in employment in the coming years and the growth and profitability of the banking and financial sectors are imminent. In any developing country, there is a huge scope for the growth of various industries. And this is what the RBI is planning to achieve by providing licenses to new banks. With an influx of new banks comes competition and this leads to greater productivity. So, by providing licenses to new banks, India will not only see a rise in the employment rate but it will also see a stark increase in the service quality.  

Anywhere between 1,500 and 5,000 jobs are likely to be created over 1-2 years for each new banking licence awarded by the Reserve Bank of India (RBI), estimates by leading head hunters, including Korn/Ferry International, Egon Zehnder, Heidrick & Struggles, EMA Partners, Russell Reynolds Associates and Randstad India, suggest. The RBI granted bank licences to micro lender Bandhan Financial Services and Infrastructure Development Finance Company (IDFC).

Based on a set of 1,938 companies spread across all sectors, the study said the value of sales in FY19 was Rs 69 lakh crore thus covering the entire corporate sector. It includes all listed public sector entities but the SME segment may find less representation in this sample.

As per the study, the aggregate headcount or employment increased at a CAGR of 3.3% over a four-year period from 2014-15 to 2018-19 compared with a CAGR of 7.5% in gross domestic product (GDP) during this period. In terms of growth in employment on an annual basis, it was 2.5% in 2015-16 and 4.1% in 2016-17. “Therefore, there is a case that supports the argument that employment growth has not been commensurate with GDP growth with a difference of 4.2% in CAGR during this period,” the study showed.

It showed that around half the companies had witnessed a decline in growth in employment over this time period while 35% of them had witnessed growth of 11.5% on the aggregate each with an above average CAGR of 3.3%.

Core worries


The ratings agency highlighted that core industries have witnessed “virtually negative growth in headcount”, with crude oil just about maintaining the employment level. These industries have been impacted by the slowdown in GDP growth as well as the challenges on the NPA side for banks.

A similar picture is witnessed for the heavy investment industries where growth has tended to be negative for power and capital goods and just 0.4% for infra. Among manufacturing industries, healthcare and automobiles registered a healthy growth of 4.8% in employment whereas the financial sector’s performance was the impressive with banks, NBFCs and insurance witnessing impressive growth

In the non-financial sector segment, the IT and retail industries registered near or above average growth while telecom, hospitality and realty witnessed negative growth. The telecom industry has been through upheavals which have led to several mergers that have impacted headcount. In case of realty, the decline in growth in business impacted job prospects, it said.

“The CAGR in employment and growth in physical production for industries in the manufacturing sector are not well related,” CARE Ratings concluded, adding that growth in employment has trailed growth in GDP indicating that the two have not moved in commensurate terms, and that service sector has performed better than manufacturing with financial sector industries doing better in terms of higher recruitment.

Shoumik, the trending Library man on twitter

Vaishali Singh

After sharing a tweet containing the library image, a man started getting proposals. Twitter user @Shoumik_ shared images of a room stacked with books, saying: “For those who didn’t know……I live in a library.” And the picture got viral.

While one of the images showed a study desk surrounded by shelves similar to the ones in a library, the other showed a cosy corner with a rocking chair. In another tweet, the user also disclosed that this is just 75 per cent of his total collection which is around 8000 books.

Since being shared online, the post has created quite a buzz on social media with many requesting if they could become Shoumik’s roommate. One user even offered her hand for marriage. Soon after he posted this tweet, book lovers went gaga over the man’s vast collection of books. At the time of writing this story, the tweet had over 8k likes and was flooded with comments. Several netizens expressed their amazement, while many others envied his collection. Some users even said they wanted to be the man’s roomie. That’s not all. The man even received marriage proposals because of his collection of books.

iPhone 11, samsung phones, one plus and more: discounts on Amazon freedom sale

Vaishali Singh

Amazon India has announced that it will be hosting a new, “Freedom Sale”. This sale is already underway and will go on till 11:59 pm on August 11, 2020. Under the sale, Amazon is offering deals across smartphones, consumer electronics, fashion, beauty, large appliances, and TVs.

During the sale period, customers will be extended a number of aggressive offers, including a bank offer under which they will get 10 per cent instant discount up to Rs 1,500 while making purchases using SBI Credit cards on a minimum purchase of Rs 5,000. There will also be other offers, including no-cost EMIs on Credit cards, Debit cards, Bajaj Finserv, and Amazon Pay Later.

Amazon has announced that mobiles from some of the top brands will be available with up to 40 per cent discount. There will also be exchange offers up to Rs 13,500 and no-cost EMI starting Rs 1,665 per month.

The most interesting of these offers will be on recently launched devices like the Samsung Galaxy M31s, OnePlus Nord, and the Redmi Note 9. Apart from this, there will discounts on other phones too, with up to INR 4,000 off on OnePlus smartphone s and up to Rs 5,000 off on Xiaomi devices. For example, the OnePlus 7T will be available at a discounted price of Rs 35,999 during the sale. The OnePlus 7T Pro on the other hand is available at Rs. 43,999. The Xiaomi Redmi K20 Pro is also benefitting from the sale with the phone selling for a discounted price of Rs 22,999.

Amazon has also revealed that flagship Samsung smartphones will get up to Rs 25,000 off, while there will also be additional exchange offers up to Rs 4,000. During the sale, the iPhone 11, and iPhone 8 Plus will also be available at discounted prices.

Accessories including headphones will be at up to 70 per cent off, while cameras will be available at a starting price of Rs 2,416 per month. Amazon is also promising up to 30% off on laptops during the sale. For those looking to buy a new smart TV during the sale, Amazon is offering up to 60% off on Smart TVs.

Non Personal data faces pushback from US giants

Vaishali Singh

Government’s plan to regulate “non-personal” data has jolted US tech giants Amazon, Facebook, and Google, and a group representing them is preparing to push back against the proposals, according to sources and a letter seen by Reuters. A government-appointed panel in July recommended setting up a regulator for information that is anonymised or devoid of personal details but critical for companies to build their businesses.

The panel proposed a mechanism for firms to share data with other entities – even competitors – saying this would spur the digital ecosystem. The report, if adopted by the government, will form the basis of a new law to regulate such data.

But the US-India Business Council (USIBC), part of the US Chamber of Commerce, calls imposed data sharing “anathema” to promoting competition and says this undermines investments made by companies to process and collect such information, according to a draft letter for the government.

“USIBC and the US Chamber of Commerce are categorically opposed to mandates that require the sharing of proprietary data,” says the USIBC’s previously unreported letter, which is likely to be completed and submitted in coming weeks to India’s information-technology ministry.

“It will also be tantamount to confiscation of investors’ assets and undermine intellectual property protections.”

A USIBC spokeswoman had no comment on the draft letter. The US Chamber of Commerce didn’t respond to Reuters queries.

The head of the panel, Kris Gopalakrishnan, a founder of technology giant Infosys, said the group will work with the government to review input from the industry.

Ministry of Electronics and Information Technology, Amazon, Facebook, and Alphabet’s Google  did not respond to requests for comment. The report is open for public comments until September 13.

Industry welcomes Defence Ministry’s move to stop import of 101 defence items in phased manner

Indian industry has welcomed the defence ministry’s move to stop import of 101 defence items in a phased manner. Defence Minister Rajnath Singh yesterday announced to put 101 items on import embargo to boost indigenisation of defence production.

Confederation of Indian Industry (CII) director general Chandrajit Bannerjee welcomed the curbs and the announcement that 52,000 crore rupees will be earmarked for procurement from domestic manufacturers. He said, defence minister’s announcement for negative import list of defence systems and platforms marks the launch of a ‘new glide path’ for AtmaNirbhar Bharat.

FICCI has described it a great leap forward for Atmanirbhar Bharat program in defence production. FICCI’s defence committee head SP Shukla said earmarking of 52,000 crore rupees for domestic capital procurement fulfils a request by the industry chamber to provide long-term visibility on defence procurement plans. Chairman and managing director of Bharat Forge Baba Kalyani said the announcement is a strategic step that will propel the Atmanirbhar Bharat narrative and bolster Indian defence equipment manufacturing industry.

He said the growth of the domestic industry especially the MSME sector, will lead to self-reliance, reduced expenditure on imports, saving of foreign currency, creating job opportunities, revival of consumption and ultimately getting us closer to the common goal of 5 trillion economy.

PM launches Rs 1 lakh cr agriculture infrastructure fund; Also releases 6th installment of PM-Kisan scheme

Prime Minister Narendra Modi has launched one lakh crore rupees agriculture infrastructure fund to give a leg up to post-harvest management and marketing of agricultural produce. Speaking on the occasion, Mr Modi said the scheme will provide better warehousing and cold storage facilities for farmers. He said new jobs will be created as food processing and post-harvest facilities are set up in rural areas.
 
Prime Minister said, the scheme will enable startups to scale up their operations and India to build a global presence in organic and fortified food. The fund was launched with 1,128 crore rupees of new loans disbursed to more than 2,200 cooperative societies. During the event, the Prime Minister also transferred 17,100 crore rupees to more than 8.5 crore farmers under the PM-Kisan direct income assistance scheme.
 
Under the infrastructure scheme banks and financial institutions will provide one lakh crore in loans to cooperative societies, farmer producer companies, self-help groups, entrepreneurs, startups and infrastructure providers. The objective is to provide medium to long-term debt financing for setting up of post-harvest infrastructure and community assets for marketing of farm produce.

PM Modi to inaugurate submarine Optical Fibre Cable connecting Chennai, Port Blair today

Prime Minister Narendra Modi will today inaugurate and dedicate to the nation submarine Optical Fibre Cable (OFC) connecting Chennai and Port Blair through video conferencing. The foundation stone for the project was laid by Mr Modi on 30th December 2018 at Port Blair. The submarine cable will also connect Port Blair to Swaraj Dweep, Little Andaman, Car Nicobar, Kamorta, Great Nicobar, Long Island, and Rangat. This connectivity will enable delivery of faster and more reliable mobile and landline telecom services to Andaman and Nicobar Islands.
 
Enhanced telecom and Broadband connectivity will boost tourism and employment generation in the Islands and also give an impetus to the economy and raise standards of living. Better connectivity will facilitate delivery of e-Governance services like telemedicine and tele-education. Small enterprises will benefit from opportunities in e-commerce, educational institutions will utilize enhanced availability of bandwidth for learning and knowledge sharing.
 
Once inaugurated, the submarine Optical Fibre Cable link will deliver bandwidth of 2×200 Gigabits per second, Gbps between Chennai and Port Blair, and 2×100 Gbps between Port Blair and the other islands. Provision of reliable, robust, and high-speed telecom and Broadband facilities in these Islands will be a landmark achievement from the viewpoint of consumers, as well as for strategic and governance reasons. 4G mobile services, which were constrained due to limited backhaul bandwidth provided via satellite will also see a major improvement. Business Process Outsourcing services and other medium and large enterprises will also reap the benefits of better connectivity.
 
The project is funded by the Government of India through the Universal Service Obligation Fund (USOF) under the Department of Telecommunications in  Ministry of Communications. Bharat Sanchar Nigam Limited (BSNL) executed this project while Telecommunications Consultants India Limited (TCIL) is the Technical Consultants. About 2,300 Kilometers of Submarine Optical Fibre Cable has been laid at a cost of about 1 thousand 2 hundred 24 Crore rupees and the project has been completed in time.